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I am not going to promote a specific Cryptocurrency Smart Chain right now as I am starting to think something is very much wrong at that specific Cryptocurrency Smart Chain - BINANCE Smart Chain
When Binance Smart Chain first started to rally for investment crypto and the development teams to develop such coins and introduce them to the Binance Smart Chain environment - I do not think they envisaged environmental disaster level amounts of sewage flowing through the Chain.
This is exactly what we are seeing with Binance Smart Chain... And a multitude of copycat Smart Chain devs, which basically turn out to be pump and dump crazy for a very short period of time before... Poof all gone... Where are the devs? You might as well just flush your finances down the pan with many emerging crypto projects.
Shitcoins in my honest opinion are becoming a problem... Should I say ploplem?
Simply so many are flooding the system, hash rates are being abused, and crypto investors are pouring Cryptocurrency such as ETH, BTC, BCH, and so on, into these currencies... Thus a few things are happening.
1. Mass flow of GOOD Cryptocurrency to projects that are dead in a few weeks. Theft in my opinion - you really do have to watch what you are sending hard earned crypto to shitcoin devs - do your research, analyse the white paper.
2. Abuse of a perfectly good platform such as Binance Smart Chain by some pretty damn smart kids, hackers and criminals...
3. Everybody wants to own a Cryptocurrency... Which is great... But I feel if you are serious - team up, create something special, develop a purpose to the coin... Don't rush in and fail... Equally as an investment, you seriously have to look at where that coin will be in 5-years... Flooding the environment with useless coins is going to create distrust in Cryptocurrency.
If I do invest within the Binance environment, I do so currently via Launchpad - this I am guaranteed has been through much more rigorous development, and can clearly read a wealth of information. But Binance Smart Chain... It just does not feel secure and a great place to invest just at the moment. The flood of Shitcoins flowing in are at epic levels... I think it is time much higher standards and limits are set via the Binance environment team - this cannot continue...
It has gotten so bad out there that every other advert is for some new Dogecoin 'killer', Shiba Inu copycats... And I do not even rate Shiba Inu at present... And now much much worse - Shitcoin Charts, Shitcoin Exchanges... Shitcoin everything including 'ShitCoin'... A Cryptocurrency project I shit you not!
Look it is not all doom and gloom, there are some good developments and projects happening, I do feel some of those shitcoins flowing out of countries such as China, will have a place and hold down when China officially dish out the Digital Yuen.
What I look for in a developing project are firstly all the scalability, present and future, the development community, team, investment profile... What the project will eventually bring to the Crypto World, and if there is anything different that the team are doing to benefit Cryptocurrency... Gaming projects are fantastic, but is the project overly hyped? Check the community... For example.
All in all I just hint to you good people looking to jump in via the Binance Smart Chain - be more than just an investor when looking to invest... You need to turn into an Investigator, seriously spend a little time studying the potential investment - this will benefit yourself, your team, and the Binance Smart Chain from within the community - I feel Binance as a whole do need to take a step back and toughen up the criteria - these levels of diarrhoea creeping in cannot be sustained and will eventually crack... Fair warning.
