CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.
Note: CEO (is a catch all term I am going to use for anyone in the roll of leadership for a crypto currency coin). It does NOT apply to the creator who made it and stepped away.
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The CEO can manipulate the price by their actions. For example, Alg0rand CEO, who seems to be utterly hated by the community, has been trolling people on Twitter in a fashion that surmounts to market manipulation. A while ago there was a coordinated pump and dump of LTC; fake news websites and fake news on Twitter claimed that Wal-Mart was going to use LTC. Within hours the price pumped 100% and then got dumped. Alg0rand CEO (I have no proof other than what I observed) tweeted "NIKE". Her audience assumed that there was a Nike partnership of sorts. That was not the first time she has trolled her audience and it certainly won't be the last.
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My second point will be Fantom. When one of the developers who was highly regarded by the community left, the price of the coin tanked wiping out entire fortunes which was exasperated by the general market tanking. If the departure of a single important person can tank the price, how can it withstand any other challenges and obstacles in the future?
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The price action of the coin, if it has a CEO, will depend heavily on "partnerships" and whatever else marketing the "CEO" and company promise/plan on. If they don't deliver, good luck.
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The future of the coin will be beholden to the CEO, rather than the fundamentals offered by the coin itself. If the coin does not speak for itself and it needs a CEO, it is going to be catastrophic for investors. Just look at Safem00n. This coin has a CEO and has done nothing but manipulate and gaslight his community of investors, not to mention reports of stealing from the community.
Now contrast coins with a CEO against those without one. They are not exposed to any and all of the FUD that a CEO can have on the "coin". For example, XMR, LTC, BTC, ETH. They are down because the market is down. They will recover, if they have already not recovered, because of the fundamentals that the coin offers and is build upon, which coins with a CEO will either lack or will be overshadowed by the actions or lack there of of the CEO of that coin.
Anyway, I am a day trader and have washed my hands of ANY coin with a CEO. I got burnt by FTM, ALG0, and a few other coins with a CEO. While the coins without one, or the CEO exited humbly and allowed the community to takeover development, for example, have the most positive reception and have resulted in the best returns for me.
Though this is a CMV post and I want my position challenged, if no one can, I hope this can serve as a warning to those newly in Crypto.
Submitted January 18, 2023 at 09:31PM by SquatDeadliftBench https://ift.tt/quT6rMl https://ift.tt/vRVFfPG
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