Jimmy Song: Bitcoin doesn't need marketing, too many experts are pushing for scams.

Encrypted currency developer Jimmy Song said on Twitter that many "marketing experts" who entered the password space eventually became the promoters of fraudulent projects.

Bitcoin

In his view, unlike Bitcoin, “junk coins” or “competitive coins” require the help of those who claim to be experts in cryptocurrency projects to gain some appeal in this area. However, he believes that these experts are finally on the platform for the scam.

“In the near future, the psychological activities that have been proven to prove their existence have distorted them and made them fall incurable.”

1

Although he did not point out the specific currency, we did witness a large number of influential people in the circle, and even celebrities have supported some famous scams.

Throughout the entire currency circle, there are many people coming and going. At the same time, many people enter the market with a firm belief. In the end, it is not a slap in the face or a ruin. It is blunt to say that no matter what kind of currency, the realization of wealth is the ultimate goal. .

Despite this, his views have been opposed. One user said, “Every exchange must have at least one marketer”, which helps promote communication and the popularity of cryptocurrencies.

Others have questioned why, as a bitcoin popular, why can't Song "see the value of marketing and help Bitcoin pass its value to more people."

This is not the first time Song has expressed his views on competitive coins and marketing.

Earlier this month, he listed some of the cryptocurrencies that fell out of favor on Twitter, such as Namecoin, Freicoin, Peercoin, Novacoin, Feathercoin, Mastercoin (now Omni), Maidsafecoin, Factom, Nxt and Bitshares. Song pointed out in a previous article:

“Too many people buy tokens that they don’t understand at all, so they can buy services that they don’t understand at all, and ultimately affect a wave of strangers.”

But he admits that since entering the market, some of the competitive currencies such as Litecoin, Ripple, Dash, Starcoin and Ethereum have performed better.

Song concluded that:

“The lesson here is that garbage coins require a lot of marketing to survive.”

As one of Bitcoin's strongest supporters, Song also said this month that "no one needs you to protect Bitcoin" and adds that it protects itself.

“Or more accurately, the economic status will provide adequate protection for Bitcoin at the right time.”

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Featured | Messari Founder: Recent Frustrations and Hopes in the Industry; Innovations in the Bitcoin Technology Stack

Today's content includes: 1. Founder of Messari: the recent frustration and hope of the industry; 2.Innovation i...

Opinion

One year after the FTX crash, have the once badly affected market makers in the crypto world recovered?

Alameda Research is the core trading company of Sam Bankman-Fried's failed crypto empire, and after the company's col...

Blockchain

How terrible is the IEO? 62% of 87 projects broke, with a maximum loss of 99%

87 IEO projects, raising more than 2 billion, 62% broken "Bitcoin is about to plummet to $5,000." "Cry...

Blockchain

After carrying a huge debt and shutting down TradeBlock, the former crypto empire DCG is now struggling for survival with one arm.

As the liquidity crisis in encryption erupted, the market declined, and the previous blind expansion and investment h...

Bitcoin

Beware! FTX Users Targeted in Hilarious Yet Insidious Withdrawal Scam

Fashionista alert Reports of FTX users falling victim to phishing scam through enticing emails and withdrawals.

Blockchain

FTX Founder SBF The Astonishing Fall of the Former Cryptocurrency King

In the development process of a new technology, there will always be a moment when the hype is so common that it is t...