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RE: 🎇 The McAfee Effect on the World of Crypto 🎇

in #cryptocurrency • 7 years ago

Now he has started that coin of the day thing which is bad for the market if he keep on doing that because it is just not natural. Look at HMQ that was pumped after his tweet and now back to its original position. I mean this is not good for long term and I hope he stops this show.

7 years ago in #cryptocurrency by
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     7 years ago 

    I partially agree. While it is true that the mentioned cryptocurrencies were pumped, I can see some benefits:

    • Better recognition - I haven't heard about any of these till now (frankly, I don't know many cryptocurrencies but on the other hand I know some bizarre ones like dogecoins for example :p).
    • People who already owned them will benefit from the sudden price boost provided they've set their sell threshold + some lucky ones that were able to buy right before the hype.
    • As You've already mentioned - the price returned back to its original position so no harm done, right? I know there may be long-term consequences but I don't think we can blame McAffee with 100% certainty for these, can we?

    To sum up, I can't really see how it is that bad except for the obvious reason why he's making these tweets. Then again, I'm not really a market person and I'd really appreciate if You could elaborate more on this. I'm curious about Your insight because I have a feeling I may be missing something in my reasoning.

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     7 years ago 

    Now you have his another tweet. Shifting from coin of the day to coin of week. That's better.

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     7 years ago (edited)

    Oh, that's nice. I think this may be a golden mean in all of this. I feel kinda sorry for him though, seems like he met with a very negative feedback for his actions.

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       7 years ago 

      It is impossible to make any kind of recommendation at all in the cryptosphere without someone accusing you of performing a "pump and dump" scheme. The new surge in popularity has unfortunately attracted some rather hysterical individuals to the party.

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         7 years ago 

        I'm also thinking about that. He can 'shake' the market momentarily but I hope he will provide updates and not 'dump' the coin afterward.

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           7 years ago 

          What is unnatural about someone giving an opinion to other people? Is anyone under obligation to accept his opinion? Is he responsible for the consequences of their actions should they choose to do so? Do his actions threaten the future of crypto, or is the greater threat not the attitude of an increasing number of people that bad investment decisions are someone else's fault?

          McAfee's actions may lead, at best, to a small surge in price and an even smaller increase in long-term interest. The "pump-n-dump, everyting is a scam" chicken little types are far more of a threat. Stifling regulation will follow these people into the space.

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             7 years ago 

            No you have no obligation to follow him but just look at yesterday event. His twitter account hacked and mess was created

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