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Ethereum Gold Another Pump and Dump Coin?

beware ethereum gold

Here we have Ethereum Gold, fresh on the heels of Bitcoin Gold, and you can’t help but wonder was this created solely to take advantage of the buzz around the Bitcoin Gold fork and enable the purveyors of this newest possible shit coin to transfer the optimism that many out there have for Bitcoin Gold over to this Ethereum based gold offering?

I say it’s more than possible.

Listen, you have to be careful with many of these ICO’s because they are using a basic lack of understanding of use cases to create these digital tokens out of thin air and then basically it becomes a way to ride the coattails of excitement and optimism for cryptocurrency and Bitcoin while not offering any real valid and provable use case for the alt coin in question and just basically offer it up to the community at large with unprovable and many times laughable forward looking and outlandish statements as to why this particular coin should be valued.

In the case of Ethereum Gold, we see a site with a suspicious VISA card and insinuations that this somehow plays into the use case.

I’m not out to make up nasty things about anyone’s endeavor, but these various cryptocurrencies need to have a valid use case that separates them from the rest of the pack and offers up a real purpose that no other cryptocurrency is serving in order to be anything other than a shit coin.

Bitcoin is the first real cryptocurrency and aimed at being a form of digital money. Ethereum has the smart contract blockchain that turns it into a worldwide distributed platform. Monero has the anonymity thing, etc.

Too many of these coins are being offered with no discernible USE CASE and without that they are CRAP.

That is the one thing that every cryptocurrency investor needs to ask.

What is that?

Does this coin I am thinking about putting my hard earned into have a real use case that lends it real value, or is it just a pump and dump scheme looking to get a quick turnaround on the backs of less savvy investor types?

If you want to play the pump and dump game and know what you are going in for and are willing and able to assume the risk, then have at it.

Otherwise, STAY AWAY from these dodgy use case tokens.

 

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