Cookie Cutter Creations
Introducing another Scam and Over Abundant Coin:
(Insert Name Here) (Whatever marketable identifier here) is a touted decentralized project, but not really as the developer and a handful of his friends called investors hold majority positions and have majority of premined (Preminted)coins. Any trade or transaction can be labeled peer-to-peer crypto currency. Meaning even if your trading crayons or bottle caps it can be construed as currency. Every crypto project has an emphasis on being energy-efficient, but really most blockchains are if they are PoS (Proof of Stake) and not PoW (Proof of Work) where utilizing your PC or server to calculate and find blocks utilizes power and cooling resources. Scalability well that's suspect because either more can be mined or minting is over generous at crazy percentages. The (Insert Coin Name Here) Local Web makes use of Proof-of-Stake minting, via masternodes or majority holder stake wallets supposedly locked and unusable for a period of time earning more coins while also staking, the actual minting of a coin making accumilation x2. Yet, also means that the blockchain has a minimal footprint on the environment, but all blockchains have this attribute and assures that any transaction will be a smooth in future. Most transactions are smooth and minimally fees, unless the block chain is unstable or the developer has tacked on a markup on the fee for him herself. You can usually tell, when you view the transaction fee and its over 30 coins. Most transaction fees are less than a coin.
To really evaluate a crypto project, join their discord and social media, see how transparent they are, see where investments are going, learn if the major investors are friends or are true investors, see if the community is engaged, look at what they do to reward their members. Don't worry about how many listings they have or what the value of the eAsset is, because if its going to become valuable it will be up to the community to bring and place that value on it.
This also applies to defi offerings of tokens. Yet that will be another shoot rant.
The takeaway here is don't fall for the hype or fomo (fear of missing out). This is what the scammer preys on, and our desire to get rich quick. Don't fall for the bullshit, like the pill you take at night and burns the fat, or the pill that helps you gain inches on your little dick. It's all bullshit marketing.