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RE: A Flipsters Paradise - Navigating the ETH ICO Jungle

in #cryptocurrency7 years ago

I did a post once comparing cypto to chess. ETH was a rook, and small coins were pawns. A rook, no matter how strong, when alone and unsupported, is vulnerable.

This post exposes a vulnerability that we should've seen coming, because we play this game like a game of craps, or poker, trying to just keep a straight face, bluff, and earn a quick buck. We should be playing it like a game of chess, with calculated moves based on the real, long term strength that the better devs have built into the good coins.

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I wholeheartedly agree. I think your analogy fits well. It could be that a few people swinging around a few tens of millions of ETH are actually adding billions to crypto market caps.

I'm still holding ETH, but it seems incredibly fragile at the moment.