The article doesn't talk about it, but there are campaigns organized over days and weeks to talk up a coin. It's not all about minute timescales.
Don't get me wrong, I believe you, but convincing evidence, even anecdotal, would be useful.
Of the big coins, not the hundreds of random ones with "To The Moon" Reddit comments.
In terms of personal experience, I've not seen anything as explicit as this article. And nothing with a giant market cap coin. More like a gray area between pump and dump and a bunch of over enthusiastic marketers.
Like I'll be reading a forum and notice a ton of people hyping up a small market cap coin. Check their post histories and they are generally new or they've only talked about the coin. Eventually find the slack/discord for the coin, people are posting links to forums/threads/mentions of the coin in the discord, and people are organizing shifts to give support. The comments are all purportedly coming from a genuine place (and to an extend they may be) but they were posted as if they were just random people stumbling across this discussion -- not an organized group explicitly trying to spread the good word.
Really, there wasn't much different between that era and the yahoo penny stock boards of the late 90s.
Learning to detect and filter that noise is a crucial skill if you're gonna trade those things.
I came here to say exactly this. Coins are extremely similar in nature to pink sheets. Bitcoinforums et al are the new yahoo finance forums. Full of shills and pumpers, be very VERY wary.
I was doing "research" this weekend for some long tail alts I could ride the pump on next. I couldn't help but note the number of template Diva Wordpress sites out there, all using the exact same template just with different fonts and minor style changes. All have some bullshit "whitepaper" (overused term of the year). Then I thought this can't be that hard to start my own. So, I am. Hopefully I'll pump my own coin within the next few weeks. I've noted a few criteria that I'm sure will attract some gamblers/fools.
On a side note, the eBay market for mining rigs and accessories is stunningly healthy.
Would you be willing to discuss this further? I have some silly ideas.
Technology is still not there yet. There's no scaling solution anywhere in sight.
These valuations are for a product that does not exist.
If scaling miraculously comes then the price might hold, otherwise the transaction fees will grow up to a point that most small investors won't be able to make that 2nd layer entry transaction and will be stuck on the expensive 1st layer.
The price will then crash.
lightning network?
Show me some working software or this is all hand-waving bullshit. That thing's dated 2015, so where's it at?
You're in luck:
https://play.google.com/store/apps/details?id=fr.acinq.eclai...
https://medium.com/@lightning_network/lightning-protocol-1-0...
There are currently 3 implementations by different teams being tested, all compatible with each-other and open-source.
No, it's not production ready, there are still plenty of bugs and missing features but it's close and you can go test it right now on testnet if you want to.
Yeah, well, that sounds like incomplete to me. Will it beat GNU Hurd to market?
Perl 6 shipped so anything's possible.
Elon Musk has plans to land people on Mars. He hasn't landed people on Mars.
If and when it goes live, sure, you've got a point. Until then it's just speculative.
There's no such thing as a free lunch in distributed system design! If IOTA had solved for scalability without sacrificing other attributes, the technology would probably be integrated into other coins very quickly.
Here's[1] a rough estimate of the growth of data on Steem.
[1] https://steemit.com/steem/@crokkon/steem-blockchain-size#@bl...