Forbes’ Top 20 ZOMBIECoins List! – Is Your Crypto On This List?

Forbes’ Top 20 ZOMBIECoins List! – Is Your Crypto On This List?

hello everybody my name is Graham mwood and you are watching the political vigilante now with more Bitcoin we took away the PV logo and put away you can support our show with Bitcoin that is an onchain address if you want a lightning address I can put that up in a little bit as well thank [Music] you um for supporting what we do we are taking the political vigilante the you know don’t like both party political system we don’t like the central banks and we’re just still going to talk about that but it’s going to be all more Bitcoin Bitcoin focused when I first started doing this uh talking about Bitcoin about four or five years ago I was talking about Bitcoin and crypto together I hadn’t gotten educated yet on the fact that Bitcoin is the Bitcoin is a commodity Bitcoin is digital gold and the altcoins they like stocks which mean could you make money on them yeah maybe but a lot of them are scams we talked about this a lot when I guest hosted the orange pill podcast you know we just referred to them as shitcoins so now what’s happening which what is interesting institutional money and the media Outlets that surround institutional money are starting to figure this out as well because here is an article in Forbes pretty entrenched in the Fiat central bank money system Forbes is and look what they just came up with 20 zombie tokens valued at a billion what you should know well this is interesting folks so this was in you know Forbes list right so Forbes identifies 20 cryptocurrencies with high valuations but little real word use calling them zombie coins we would call them shitcoins these crypto currencies are mainly used for speculative trading and haven’t been widely adopted for actual payments some people say well Graham how how do you use Bitcoin I mean it’s just kind of an asset it’s a store of value well you need to go to El Salvador or other Bitcoin bubbles throughout the world where there are circular economies and these circular economies are popping up in Costa Rica in Guatemala the Philippines uh you know other parts of Asia and African countries they are popping up everywhere um Forbes report raises concerns about the overvaluation of some cryptocurrencies and the viability of projects without clear practical applications Forbes listed 20 zombie cones calling them good Forno blockchains they are unproven and have little utility other than speculative crypto trading among them are xrp cardano I’m allergic to shitcoins um bch which is Bitcoin cash Litecoin I just got rid of that right before the having I went through a I I had a cold wallet and you know I had a couple of tokens on this cold wallet and one of them was Litecoin and I was like bye I don’t even care what it’s worth and I converted it to bitcoin right before the having just to increase my Bitcoin position because I was like I don’t have a I’m like you know if you don’t have a lot of cash but you have altcoins I’m telling you convert them to bitcoin because even if you’re at a loss now which I think what I paid for the Litecoin I think I was probably at a little bit of a loss but I went eventually I’ll get this back when Bitcoin does the forx so we just talked about this Bitcoin current price today is about $63 64,000 if you take $64,000 so the last having after the last having Bitcoin went on an adex the having before that a 10x the having before that a 20x so let’s say this having that we just had in the next 12 months Bitcoin goes on a 4X not even an 8X let’s go conservative and say it’s a 4 4X 64,000 * 4 is $256,000 so that means take your altcoin convert it to bitcoin and it’ll Forex and I guarantee you probably get your money back right it’s not Financial advice folks but I’m just telling you this is what I did but all these coins that I remember four or five years ago people going oh cardano and xrp and blah blah blah and you all these people pushing these coins you got to understand that now Forbes is saying they don’t have a real world use now Forbes may clearly have an agenda but maybe forbes’ agenda is they just bought a bunch of Bitcoin but it really backs up the things that we talked a lot about when I doing orange pill with Max and Stacy you talk about the shitcoins and their scams and when we go into a bull run like we’re going into now people come in who don’t know much about it and they think Bitcoin and crypto are the same and then they think well I’m gonna buy Bitcoin but oh man it’s 60 some thousand dollar but I can get this other crappy coin for a dollar five dollar so I’ll have more of these coins and these coins will go up in value just like Bitcoin that is wrong you need to understand the fundamentals you need to understand that there’s only ever going to be 21 million Bitcoin ever made and these altcoin coins hundreds of millions Trill I mean like so you really need to understand the fundamentals and I’d say just buy I people now what should I what do you think about this coin at that point I say just buy Bitcoin just buy Bitcoin and hold on to it that’s it so Litecoin ICP Etc xlm STX Cass Theta FTM XMR algo flow I don’t even know what half of these shitcoins are just despite High valuations these token phased questions about real world adaption are they truly alive crypto zombies rising from the grave Forbes comprehensive report highlighted 20 zombie blockchains with the c within the cryptocurrency market including Ripples xrp and ethereum classic despite their High Market valuations these cryptocurrencies demonstrate minimal real world utility and user adoption Forbes didn’t hold back even flagging rle Labs the force behind xrp is a major player in the world of crypto zombies despite xrp’s whopping two billion daily trading volume Forbes argues its main purpose remains speculative lacking real world usefulness Forbes report also reveals a startling fact there are 50 blockchains valued at over 1 billion each including excluding Bitcoin and ethereum out of these at least 20 are labeled functional zombies boasting a combined market value of 116 billion but are true but are they truly alive in any meaningful sense Grim reality checks diving deeper Forbes highlighted ethereum classic tasos and algorand among others despite their huge market caps doubts arise when you look at their earnings for example ethereum classic only generated around $41,000 in fees in 2023 a far cry from its 4.6 billion doll market value pump and dump they are looking to dump these coins man these owners the the people who created these coins have a bunch of them I’m sure on their wallets and they are ready to pump the price up and then sell at the top here’s a good thing to to to test right um is if you’re investigating first of all I wouldn’t buy I wouldn’t buy any altcoins but here’s how you invest it go look at these altcoins and you’ll see they only have one pump they did it once Bitcoin has been going up steadily like that it has pullbacks last month we hit an all-time high of 73,74 64,000 so there’s a that’s a pullback it’s a $10,000 pullback right that’s over that’s like a 13 14% pullback maybe almost yeah that’s like a 15% pullback roughly but it still keeps going up so when you look at these altcoins look at their alltime chart and you’ll literally see it go up once and then down and it’s never recovered it’s never recovered which means it’s pumping up this is why I’m a Bitcoin Maxi I don’t want to see any of you who are new into the space get scammed and they’re going to promise you staking rewards and 5% and all this stuff buy Bitcoin hold it get it off the exchanges put it on a cold wallet and just sit tight you will make your money back and it’ll be a store of value and as Michael sailor said don’t sell it don’t sell it don’t sell it but let us read more from the good people at Forbes um tasos in 2017 now faces a market cap of 1.2 billion with fee earnings of just 177,000 in 2023 all go r once seen as ethereum’s rival tells a similar story fees totaling only 63,000 despite its two billion market cap and a half billion dollar treasury that is insane Etc is ethereum classic all right the term zombie blockchains perfectly describes these projects stumbling forward in the crypto world world with little to show for their existence among them Ripple’s xrp stands out initially positioned as a disruptor but now struggling to break free from its speculative image Forbes analysts analysis highlights a troubling Trend the growing divide between market value and real world use forness in the crypto space it raises important questions about projects like tazos and cardano once hailed as ethereum successors but now facing hurdles and gaining widespread acceptance operation without operating without regulation or strong governance structures poses risks as ethereum Classics post security breach struggles show Forbes warning serves as a reminder of the precarious position these cryptocurrencies find themselves in balancing on the edge of obscurity due to the mismatch between valuation and actual utility so this means it’s the thing we’ve been talking about and this is why and what some people are going to read this who don’t understand they’re going to say yeah Forbes just said all the Bitcoin and everything’s a scam that’s not what that article says it calls out the altcoins because the Bitcoin Network the Bitcoin blockchain network is fine because it can’t be manipulated it can’t be overrun they can’t do it that is why make what why Bitcoin is superior etherum you know if it’s if it’s on Amazon servers the federal government could just call up Amazon and go shut it down Bing done it’s done can support our show with Bitcoin right there file the money connect the dots get the truth what these altcoins are doing is scams remember 25 20 early 2000 the doc bubble and you had just we got a new website and they would pump it up they do some IPO and pump the stock price up when they released it and sell it off and run the website did nothing they had was nothing it was just pump and dump scams that’s what these altcoins are they’re pump and dump scams follow money connect the dots get the truth even when it’s painful to swallow I was like oh these cryptocurrencies when I first got in with it no no it’s okay A lot of people in the Bitcoin space did that we all came in first and bought a bunch of altcoins and thought oh we’re going to buy this coin at 5 cents it’s going to go to 10,000 and I’m going to be a multi-millionaire it’s a scam buy Bitcoin hang out to it and shave your knuckles for justice

Graham goes over Forbes’ Top 20 “zombie coins” list.

Segment recorded on April 29th, 2024.
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