Shitcoins are a race to the bottom -> the bottom being: "Who can comply the most with bureaucrats and bullshit agendas?"
I always thought the parasite class would be making their own competitor to Bitcoin, some kind of WEFCoin - in reality they can just watch while eth, dog, ripple et al trip over themselves trying to be the first to lick the boot, then a winner can simply be selected.
I always figured because coins are open source protocol they would just copy, paste, and slap their name on it. Why enrich some arbitrary company and give them the power to print.
What would you be copy+pasting? They'd want something far more restrictive by design than something like Bitcoin.
A lot of alt coins are copies of Bitcoins open source protocol …but when they make the copy it has zero network effects making themselves the consensus to change it as they please
