War of the Altcoin ICOs - GMB and XVETwo altcoins, both alike in dignity,
In the crypto ‘verse whre we lay our scene,
From supporter FUD to developer accusations,
Where civil blood makes civil hands unclean.
From forth the fatal loins of these two coins
Trusting investors will suffer loss.

(A parody of the introduction to Shakespeare’s Romeo and Juliet)

Why am I bastardizing Shakespeare, you ask? It seemed appropriate given the epic level of tragedy and accusation playing out on BitcoinTalk this past week.

There are two altcoin ICOs happening right now – The Vegan Initiative (XVE) and Gambleocoin (GMB). Both are being hosted on CoinExchange.io and have threads active on BitcoinTalk. The level of arguing, scam accusations, and general FUD surrounding these coins has reached a premenstrual level of bitchiness.

In a nutshell, supporters of GMB have been trash talking XVE and levelling scam accusations at its developer. I’ve seen some of the posts and they have been both baseless and brutal. XVE’s developer and some of that altcoin’s supporters have been likewise posting in the GMB thread, flooding it with long strings of quoted posts and accusations (unproven at the time of this writing) of the GMB developer using alts to trash XVE. As a result, GMB’s developer had to shut down the original ANN thread and start a new self-moderated thread.

Listen up folks. In my opinion, BOTH altcoins have potential and BOTH altcoins carry risk. But does that mean that one is better than the other? No. Altcoin investing – like ANY investment – carries risk. It’s the nature of the beast. As investors we read the available information, weigh the merits of the altcoin based on our own criteria, and make the decision whether or not to invest. Sometimes our instincts are sound and sometimes they aren’t.

This war, for lack of a better term, going on between these two altcoins needs to stop. Threats of tanking the coin’s value and getting the ICO cancelled on the exchange are juvenile. It doesn’t help the altcoin making the threats and the people who end up getting hurt the most are the investors who are ponying up their own hard earned BTC because they believe in the merits of whichever altcoin they are investing in.

So lighten up, Francis. Stop worrying about what a few supporters are doing and focus instead on educating people on the merits and possibilities your altcoin brings to the table.

The crypto ‘verse is a big place and there is room enough for all good altcoins. For the record, I don’t favor one over the other. I’ve been promoting both and I have invested in both ICOs because I see merit in both. Only time will tell if my instincts were sound 🙂

A glooming peace the end of these ICOs bring;
Profit, for sorrow, will not show its head:
Go hence, to have for talk of FUD and scams;
Some shall be pardon’d, and some punished:
For never was a story of more insanity
Than this of XVE and GMB.

(a parody of the end of Shakespeare’s Romeo and Juliet)

EDIT: The dust has settled and both ICOs have been done for over a week now. The Gambleocoin (GMB) has split with the proceeds of his ICO, leaving investors high and dry. The Vegan Initiative (XVE), on the other hand, is alive and kicking. The developer is active on his thread and continuing to develop new features and make improvements.