What's the deal with Crave? Why is everyone buying that and not the amazing Bitbay?
We are in what is very similar to a penny stock market. So people only buy into new coins that they will of course quickly sell. Pump and dump groups will make new coins because its easier to promise features than deliver and i think investors buy in because they want to gamble. I wish that investors wouldnt make it so easy for pump and dump groups to sell new coins. Of course they should be investing in coins with real developement behind them but its not the case. Perhaps if the market matures that will change.
This is exactly what the pegging system is going to (try) to solve. Its way too easy to start a new coin and some investors are not thinking about which coins will survive a year from now. Its sad but its true, the majority of the crypto space doesnt care about tech, only money. However, once we give them tools like these markets etc, the hope is eventually people will realize that coins are much more than speculative assets.