The Good, The Bad and The Ugly

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3 years ago

We all know, the good side of cryptocurrency, we all know the bad side of it, and we all know the ugly side too, somewhat. The good side could be the long “HODL” with patience, resulting in good profits, or making day tradings or scalping, ultimately earning some profits. The bad side could be the loss of investment, doing “HODL”, but the bought token is not “mooning”. The ugly side could be the bad decisions, of not investing on a good token, especially BCH, or not “HODL” it, or it could be some sort of scam!

We all have eventually made some sort of standards, procedures, to survive in the crypto market. The above “Good”, “Bad” and “Ugly”, sides are now well documented and explained in a lot of articles, and we have many experts, to guide us. But as the blockchain and crypto market is evolving, so do the “Good, “Bad”, and “Ugly” sides.

The Evolved Side of Good in Blockchain and Crypto

Non-fungible token (NFT) is something that is amazingly a good side of blockchain. Trading in NFT is something unique, and Bitcoin Cash has provided amazing support regarding it. BCH introduced us to creating good projects NFT, SLP, costing a nickel $0.05! Recently, Bitcoin cash fans have been introduced to a new non-fungible token (NFT) asset market called The market allows individuals to purchase SLP-based NFTs with bitcoin cash (BCH), and the NFTs can be stored for collecting purposes. This is something “Good”, which has evolved and everything looks good but...

The Evolved Side of Bad in Blockchain and Crypto

New investors, and people who’re new to NFT, and some of those who just want a quick Lambo, after investing on NFT, or simply put, those who are greedy, got into the evolved “bad” side. Nowadays it’s as easy to create an NFT, as it is easy to do a sign-up. Scammers are creating awesome websites, attracting YouTubers, ultimately luring people into their “good-to-the-moon”, project, and selling them NFT’s of their project, then dump them pumping it. That’s something known as “Rugpull” and getting “Rekt”.

Few examples;

NFT Art Price Chart

SafeMoon Price Chart

SafeMoon Tweet about have a “Face”-thus (not)“Trustworthy Project”

Someone replied to the above tweet of SafeMoon - Seems Legit

Refinable IDO - A total disaster

Refinable sale price of IDO, which never happened

Refinable Tweeter account deleted this tweet after angered investor’s comments

Failed IDO of Refinable
Refinable Co-founder blames “Bots”

Refinable investors

Team of Refinable

Despite investing in Refinable, Binance has announced to launch its NFT marketplace. Doesn’t seems to get fit.

The Evolved Side of Ugly in Blockchain and Crypto

So, as explained that as people are getting independent and evolved in this market, so do the scammers. The ugly side is not recognizing a good project and not investing in it. So what would be a good and stable project, after all? This price chart could give some idea;

Bitcoin Cash Price Chart of Last 180 Days

Bitcoin Cash (BCH) is evolving, whilst bringing good change and features in society. Its tokens value is strong, and getting stronger day by day. It has been introduced to make SLP tokens, which cost almost nothing. Created a marketplace for NFT.

So why this ugly side evolves, where we have “rugpull” projects, no stability of tokens! Why gamble, when there is a bright project in front?

This is an ugly side, which is something, that people would understand, eventually.


Writer's Note:

This is my first article, would love to hear back.

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3 years ago