'Evil Is Normalized' In Cryptocurrency Due To 'Broken Moral Compass,' Blogger Writes
Portfolio Pulse from Ivan Crnogatić
Anonymous blogger Polynya criticizes the cryptocurrency community for its 'broken moral compass,' highlighting the rise of predatory practices, scams, and the emergence of offensive meme coins. Despite acknowledging some positives in crypto, Polynya is taking an indefinite hiatus from writing about the industry, expressing disappointment in its current state. The critique comes amid a surge in meme coin popularity, driven by social media hype rather than intrinsic value, contributing to the market's volatility and potential for scams.
April 04, 2024 | 3:37 pm
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NEGATIVE IMPACT
Bitcoin, as the inception point of cryptocurrency, is highlighted for its speculative nature and the subsequent evolution into a market filled with scams and unethical practices.
Bitcoin is directly mentioned as the starting point of the cryptocurrency evolution that led to the current criticized state of the market. This negative portrayal could impact investor sentiment and potentially decrease Bitcoin's value in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Dogecoin is mentioned as an early example of a meme coin that has strayed from its original, more positive nature amid the rise of offensive and scam-filled meme coins.
Dogecoin is mentioned in the context of the meme coin supercycle and its deviation from the original, positive nature. This could lead to a negative perception among investors, potentially impacting Dogecoin's value in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70