I have always been the kind of blogger to discuss good projects, positive news, and occasionally educational pieces. Although, I rarely write on projects that I dislike or simply disapprove of for various reasons. Therefore, I want to touch on the top 4 most hyped projects on the crypto space that I believe are horrible projects for one reason or another. This is more for fun, but take it as you will!
This is no way means that you can not make money off of these projects, but you might not want to support them after reading this. Remember that every time you purchase one of these projects or trade it, you are essentially supporting the economy behind it. You are supporting the use-case and the utlitity behind the project. So, be careful where you put your money.
Nothing should be considered investment or financial advice. Enjoy the ride.
Top 4 Worst Projects
Slamming right into this, let’s look at our line up for the worst hyped projects on the crypto market.
- First up is the notorious Bitcoin Satoshi’s Vision (BSV)
- Second to bat is the insanely hyped Tron project (TRX)
- Whose on third? That is none other than Steallar (XLM)
- Rounding out the team of misfits in fourth place is Bitcoin Cash (BCH)
This is our line up today folks. We are going to go through each project one at a time and break apart why exactly I have considered these projects to be the worst hyped projects on the crypto market. Again, these are my personal opinions so you can competently agree, ignore, or forward them to your boss. The choice is yours to do with the information as you please.
Whatever you do with the information, don’t give it to John McAfee because these will become his new favorite projects to shill, seriously.
Bad Things About Bitcoin Satoshi’s Vision
Without a doubt Bitcoin Satoshi’s Vision is the worst project on the market in my opinion. Here are a few reasons why:
- BSV adds no value to the market scene because it is an almost identical copy of Bitcoin Core with little future development
- It is lead by a psychopath named Craig Wright that has tried to crash the market several times
- Hosted as a pump and dump scheme with clear examples in the charts
- It exhibits strong ride or die mentality with its users and followers exhibiting hostility in the crypto community to other projects
- This hostility also makes the entire eco-system look juvenile and dramatic causing investors to dismiss crypto
- The project has a minuscule hashrate of around .5% – 1.5% of Bitcoin Cores over all hash rate meaning it could easily be compromised.
- Most of it’s hashrate comes from few exchanges and mining companies meaning it is not decentralized at all
These are just some basic points to hit on. The main point is overwhelmingly the leader behind the BSV currency which I still believes owes someone billions of stolen crypto. There is absolutely no reason for why the authorities should not have already arrested Craig Wright except for ignorance, and I am predicting that before the next halving that man will be in jail and this project will be non-existent.
Investing in a project like this would be pretty much like going to the casino and throwing all your money not on black or red but on number 7 alone. Good luck is all I have to say.
Bad Things About Tron
TRON is a project that used to have a pretty decent standing in the market until last year. Over the last year there has been several developments that made this project look like a complete joke. Here are a few reasons why this project is bad in my opinion:
- Tron is another carbon copy of Ethereum that tried to jump on board with the buzzword of “Third Generation Currency” but has had little impact on technology development
- TRX is also led by a man-child, Justin Sun, who thinks if he screams loud enough, people will listen and like his project. There have been countless circumstances of this guy that yell suspicious like creating announcements of announcements, potentially being arrested in China to being “sick”, canceling a lunch on Warren Buffet because he was not allowed to leave his country, and many more things that just happen month after month. It is never ending with this dude. I do not have time to list everything that this joker does
- Purchased BitTorrent and then practically has done nothing else with it to progress the market. It was more a marketing scheme which went successfully no where afterward
- Again purchased Steemit and now is trying to merge it with Tron while taking over the chain effectively. Might piss everyone off along the way? But this is yet to be fully concluded. Either way, not looking good for the Steem community. Conform or die seems to be the theme
Tron Fails as a Crypto
Tron had potential, HAD. Now it honestly is just another stupid project that is trying to purchase it’s way to the top instead of actually bringing VALUE to the eco-system. No one needs TRON, and ultimately no one will use it when there are so many better options available on the market. All the while you have real projects like Ethereum, Cardano, and even EOS building an eco-system of sustainability around their main projects. Clear differences in what these projects value versus what Tron values.
Bad Things About Stellar
Next on the chopping block is the lesser known project Stellar. First on the list not to require or deem itself worthy of public shaming, but there are a few things to consider.
Instead of a running list for this project, we are going to approach this one more reasonably without running at it with the ax swinging.
Jeb and Stellar
This project first off, is not a bad project. It has a decent business model behind it, but it’s purpose is the reason it has made it onto my list today. You see, stepping back to 2013 and 2014, there was a man named Jeb McCaleb.
This fella is a piece of work. Brilliant as he might be, Jeb actually helped start and was one of the founders of Ripple, XRP, which is the top third cryptocurrency.
Well as the project (XRP) progressed, Jeb got unreasonable with his cohorts even so much as bringing his girlfriend into board meetings and into the office to start bossing other people around. Long story short, Jeb staged a moment in a board meeting where he wanted the CEO at the time to leave or he would. To his surprise, everyone at the table had the other guy’s back. No one asked Jeb to leave, but he did. Thrown out of his own company in a sorts.
Storming out and taking a break from the world to go surf the waves for several months, Jeb returned to the crypto world and created none other than Stellar. Stellar just so happens to be an almost copy of XRP with the same exact purpose as XRP. The only real difference is in philosophy. Instead of a token sale, Jeb and the Stellar team decided to airdrop all of their tokens similar to launching a free IPO. With some funding from people at Silicon valley, his new project soon took to the charts.
Although as we have seen over the years, Jeb loses sight on his projects. Even before XRP, Jeb was involved in the infamous Mt. Gox scandal. If you know about Mt. Gox, then you probably already don’t trust this guy.
For the main reasons that the person behind this project is highly unstable, has a short attention span, and the project really brings nothing new to the market or adds any value, I deem Stellar a bad project. I hope that all makes sense. You might still make some money on the project, but you might as well invest in a crypto index fund at that point and just ride the waves with Jeb. Because that is all this project will be doing.
Bad Things About Bitcoin Cash
Last on the chopping block is the runner up scam to BSV, Bitcoin Cash.
Ironically, most of the points I made about BSV also apply to Bitcoin Cash except for a few things. Bitcoin Cash has a more reasonable following, a stronger hashpower, and has occasionally made some decent developments. In addition, BCH is not the worst project, but here is why I think it is still a bad project.
BCH is merely a transformation of Bitcoin Core even now, and that really is not needed in the market. We already have Litecoin which is the silver to Bitcoin’s gold, so we really do not need BCH for anything. In addition, the leadership behind the BCH project is not very stable consider the massive fallout with the BSV project in 2019. BCH is led by the proclaimed “Bitcoin Jesus” Roger Ver. From Roger there have been some questionable marketing tactics. For instance, the team behind BCH ended up purchasing Bitcoin.com. Not a bad marketing idea to promote their product, except that their project is not Bitcoin.
But they want to say their project is Bitcoin, which is a lie.
Bitcoin Cash Scam
Their project is a fork of the original Bitcoin core blockchain, and therefore it already misleads people. On top of this, Roger Ver took the deception to the next level by prying on new crypto investors. On the Bitcoin website, new investors were prompted to purchase Bitcoin if they wanted to. Upon doing so, the investors were lead into a trap and faced with two purchasing options.
- Buy Bitcoin
- Buy Bitcoin Core
Clearly, the investors were looking to purchase Bitcoin, but thanks to the deception, these investors ended up purchasing Bitcoin Cash instead which ruined their experience in the crypto market right away. Clearly, the reason BCH is here is for the lack of trust, lack of value added, and lack of purpose down the line.
List of Bad Crypto Projects
Here is my list of the top worst crypto projects. You might agree with it or fully disagree with it, that is up to you! Invest wisely though and at a minimum take some of the facts into consideration before putting your money in any of these projects.