Which would be the majority of coins? I remember in 2017 when there was a new coin launching, and the creator/ ringleader/ whatever was discussing how the 20% of the coins would be divvy’d up amongst the creators. This was when crypto hype was in full critical mass, and you could basically launch anything with 10000% ROI. That always rubbed me the wrong way.
Imagine being able to write the equivalent of a book report – Whitepaper- and get wealthier than the CEO of a company that IPOs with a real product and real revenue. One reason why I have a hard time investing in alts, is not because so many are billed as get rich quick schemes for investors- but they actually make their creators rich, and they don’t deserve it- in my opinion.
I can’t shake that buying so many of these coins is just enriching modern day Charlatans.