Why You Might Miss Out on What Bitcoin and ETH Founders Experienced

A lot of people here seem to fit into one of these categories:

  • You’re too caught up to explore newer options that are really needed
  • You’re too focused on finding that perfect 1000x project and just want someone to tell you where to invest instead of doing your own research
  • You’re lost in the dreams your project keeps promising
  • You’re spread too thin across many low-quality coins (Warren Buffet’s strategy doesn’t apply here)

If you’re curious about what Bitcoin and Ethereum founders were doing when they came across those projects, it was none of the above.

They were doing their own research, connecting with developers and learning about the benefits and drawbacks of each project. They realized how valuable mining was – let’s highlight that word.

Remember mining? That’s how serious investors got involved, because they had to actually educate themselves to see whether these projects were worth their time and effort.

Most of the low-quality coins out there are just giving away tokens to venture capitalists, influencers, and exchanges, over-promising everything while failing to deliver anything beyond more tokens on the market.

Did BTC and ETH operate like this when they first started?

Exchanges like Binance haven’t been anyone’s ally either; they have made things worse along with ETH, making it too easy for low-quality coins to spring up.

The market is filled with junk, and promising projects with great ideas rarely get noticed because everyone is chasing quick gains. Most stories about winning with memecoins are just marketing tricks.

The true beneficiaries are the token creators, influencers, and exchanges. If this keeps up, regular investors will be left empty-handed in a few years, particularly those who make poor choices.

Now you might think, but I have a great project!

Chances are, it’s not that great. Without mining, there’s little motivation to learn and build. Developers won’t jump on board if the vision isn’t clear or if the utility isn’t there. Just layering more features won’t cut it.

Incentives are vital for attracting talented people to your project without cost.

You might argue that your project does include mining!

Alright, has the vision they promised two years ago come to life yet? This is crypto, not a slow-moving game. If you have the developers and funds, it shouldn’t be overly tough to build. The only reason things are delayed is likely a lack of developers or a realization that the project wouldn’t succeed, yet they don’t want to lose trust.

Good luck out there. I truly hope crypto can eventually get back on a positive path and move away from all this memecoin chaos.

Most people in this forum fall under this category. I mean, we still see a bunch of NANO bagholders.

I’m here for the tech anyway.

Aldrin said:
I’m here for the tech anyway.

$tech

Aldrin said:
I’m here for the tech anyway.

I came for the profit but I stayed for the tech.

Back then, there weren’t 20,000 other low-quality coins around.

Oran said:
Back then, there weren’t 20,000 other low-quality coins around.

Add a few more zeroes.

I’m not getting my hopes too high.

WEN TOYOTA?

Vine said:
I’m not getting my hopes too high.

WEN TOYOTA?

Once you get your Lambo, you can always downgrade to your Toyota.

I believe the link between mining and effort is a bit off here. Mining as an individual has usually been less profitable than just buying it on the market.

If you want to start a business with affordable electricity and the latest hardware, you could earn money. But usually, people mined because they were already interested in the project; mining wasn’t the main draw.

I can tell you not many people were fans of ETH at the beginning, many saw it as just another low-quality coin like the others that came up. Since crypto began, you had to do your own research. In earlier days, we had coins like world coin, peercoin, namecoin and others. For instance, Bitcoin Cash became popular, but everyone knew the risks. You can’t blame ETH for the rise of low-quality coins; that’s just how its network operates. The best advice in this field is to read, and if you’re looking for a quick profit, follow trends (like ICOs, DeFi, NFTs).
People have been acting as you described since the start. That’s why many shy away from crypto, considering it a scam when they fall for scams. Also, what happens when ETH turns to proof of stake? Is that considered a scam too because it won’t involve mining? Some projects have thrived from the start without mining, but you always need to do your own research.

Maybe we don’t get to mine 1000 Bitcoin and hold them for 10 years, but we still have the opportunity to accumulate Bitcoin over the next 10 years.

Parly said:
Maybe we don’t get to mine 1000 Bitcoin and hold them for 10 years, but we still have the opportunity to accumulate Bitcoin over the next 10 years.

Yeah, being in the market for the long haul is better than trying to time it.

Feeling positive about this.

Got to agree with points 1 and 4.

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Starting out with “None of you will ever get the chance” seems like a strange way to frame an advice post.

Callen said:
Starting out with “None of you will ever get the chance” seems like a strange way to frame an advice post.

Sorry if you were expecting me to say, “Invest in this PumpCumInu, it’ll make you a millionaire tomorrow”?

Do you want the truth or just wishful thinking?

@Dariel
Advice. The best you could offer was, “Good luck out there.”