Cryptocurrency tribes and their impact on the ecosystem


Cryptocurrency tribes and their impact on the ecosystem

Over the past few years in kriptonyte there are several factions that “fight” each other on social networking platforms, trying to prove the superiority of their preferred project over the other. Local disputes happen almost every day and is not likely to stop anytime soon, given the amount of money which turn in this industry. In this article we have considered the nature and causes of contradictions, the most striking examples, as well as the impact of disputes on the digital economy.

Clans and cryptocurrencies

In everyday life we are accustomed to consider themselves part of a separate tribe. It plays an important role in shaping our Outlook, behavior, political and social beliefs. Fractionation is very evident in the local sports rivalry. Despite the fact that this behavior is natural for humans, it can also be a cause of serious conflict.

The main side effect of uniting the tribes is the formation of relationships of “us against them”. In kriptonyte additionally contribute huge funds moving in the industry. It is therefore not surprising that the differences gradually increase, especially during the market downturn and growing competition.

Many members of the crypto community talking about domestic high level of “toxicity”. Head Decentraland Tony Sheng wrote in his blog that the statement of personal opinion about a particular blockchain project (positive or negative) usually meet a negative attitude, sarcastic comments, and even personal insults.


Members of cryptoplugin can be identified by their irrational confidence in their beliefs, antagonism toward others and frequent dashes between the factions. This behavior is evident in a bear market, when, for example, supporters of bitcoin condemn the less successful coins and tokens that were on par with “their” coin.

There is another form of expression. The developers themselves often enough to publicly focus on the limitations and mistakes of other projects, trying to convince the community in the inferiority of the competitor. Sometimes, this is done using cost indexes (the rate of capitalization), or of individual leaders, identifying them with the product. Although the reasons for this behavior can be explained, but in practice it does not help a specific virtual currency and cryptologist.

Co-founder of Coinbase Fred Arcam wrote in his Twitter about the existence of the strong tendency of the separation of the tribes. He attributes this to the fact that investors and miners want different ways to increase the rate of existing cryptocurrencies. According to him, the main area of dispute is Reddit. The topics of the platform is also frequently publish contradictory stories to create positive background information about a specific coin or token. Usually in such articles people promote their own cryptocurrency or discrediting another. This is evident in the imbalance of positive and negative messages.

Supporters of Bitcoin Bitcoin vs Cash

Perhaps the most obvious example of the struggle cryptolab is a dispute between the supporters of bitcoin and the bitcoin cache. Hardwork digital gold actually led to the “civil war”, which lasted for more than a year. BTC supporters accuse those who support the BTH fraud and the use of the name Bitcoin. The opposite side accuses the developers of Bitcoin Core in the seizure of power over bitcoin in favor of Blockstream, the company behind the Lightning Network, which employs a variety of optimizers.

Representatives of camp the first cryptocurrency called hardwork Bcash, to prevent attempts of the team Bitcoin Cash to position the coin as a “real bitcoin”. While supporters BTH, mentioning bitcoin, call it Bitcoin Core, insisting on its legitimate right of using the brand.

There are a lot of examples of this struggle. For example, Roger Ver often publishes information indicating the superiority of BTH on military-technical cooperation and adherence to the bitcoin cache of the original ideas of Satoshi Nakamoto.

The representatives of kriptonyte also do not stand aside. Co-founder and head Bitmain Jihan Wu, while trying to remain neutral in this dispute, but sometimes also criticize opponents.

The developers of EOS against Ethereum

After the launch of the EOS token on Reddit started posting a lot of materials, which predicted that the launch of the new platform will put an end to the domination of Ethereum. In the posts cited the comparison with the indication of the technical superiority of a token. Acne Buterin couldn’t stay away and decided to confront the accusers, pointing out the shortcomings of the EOS. After that intervened, Daniel Larimer, becoming to the defense of his new project and in parallel criticizing other startups working on the Ethereum platform.

Further disputes from the scope of comparison of technical features of moved to the level of unfair competition. In the period of the launch of the EOS network, there were many problems and few stops. At this time supporters of the air mocked the inept developers, and when the transaction cost of ETN rose sharply due to a DDoS attack, then it began to blame the team EOS , resulting in a lot of evidence of involvement.

Other examples

Often conflicts arise as a result of hardporno, but sometimes this is due to the competition. For example, the Ethereum community before repeatedly published information about the superiority of the platform over Bitcoin and much more capability. Similar disputes arise between XRP and Stellar, ETC and ETH, and so on.

It is possible to meet the criticism towards the projects with very successful marketing campaigns, such as the XRP, EOS. The people instead of promote the development of their interest in cryptocurrency spend your time and energy on discrediting others.

Implications for kriptonyte

Those involved in such “wars” I believe their behavior is a necessary evil, but in fact only reinforce the division of the crypto community. Such a struggle does not bring real benefits, but only takes energy that you can use to generate innovation for the development of the decentralized economy.

In order for bitcoin began to be used everywhere does not require the collapse of the VTH, and the Ethereum should not be the only platform for its commercial success. The same parallel can coexist various anonymous coins, and those that are designed to service the banking system.

It is obvious that supporters of a particular virtual currency has an economic interest in success. However, the benefit of becoming part of investors and miners other asset balanced future losses. Moreover, the appreciation of the same coin will not necessarily reduce the value of the “competitor”.

At the moment, virtual currencies are at the stage of formation, and different blackany better cope with the solution of certain tasks. Therefore, it is impossible to predict which ones will be more successful in the long term. So it is better to stick to an objective point of view and to properly diversify your portfolio.

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