LogFAQs > #966472323

The more I've been reading up on this, the more clear it is that the entire purpose of 95%+ of altcoins is as a pump and dump. And that the Crypto memes/community ecosystem is basically an elaborate mechanism to trick overconfident morons into pump and dump schemes, with concepts like HODL and boasting about huge gains (and literally banning people who talk about their losses) designed to break down rational mental roadblocks to prevent this sort of stuff. And the blockchain itself is basically the centerpoint of the cult - the cult leader in a metaphorical sense. There's a nearly religious belief in the blockchain's revolutionary utility and infallibility.

All that to say this - Crypto (at least outside of Bitcoin itself) is a complex pump and dump scheme that uses cult-like brainwashing and information control techniques on a vulnerable population.