I cant tell you how happy it makes me to see this chart and I will explain you why in a minute
Even though most people see this forks as an opportunity to make free money, in reality it is printing money out of thin air, its taking the bitcoin brand and splitting it up into this fractional pieces of cryptocurrencies were nothing really changed, nothing really improved on the Bitcoin network because of this and just like that we have another hundred dollar cryptocurrency… that isn’t being used as a currency, we have a crytocurrency that is probably going to be placed in the top 10 next to other cryptocurrencies that have game changing technology, years of adoption…this cryptocurrencies have worked a long time to get their valuation and overnight we now have this cryptocurrency that generated billions of dollars in valuation and… I just don’t see why, what is it about bitcoin gold that can explain that valuation? THIS IS WHAT IS CAUSING PEOPLE TO BELIEVE THAT CRYPTOS ARE IN A BUBBLE RIGHT NOW (not saying they are but to somebody who doesn’t understand blockchain technology they may very easily look that way)
This forks don’t make Bitcoin or any other altcoin look good, so we should all be concerned about this, so please stop this continuous effort to try to make free money and then dumping your BTC and your useless cyptocurrency that no one is ever going to adopt to get back into your altcoins, if you care about the longevity of cryptocurrency you need to realize the role you play in helping build that reputation.
Respectfully, although I don't think chasing forks is a particularly wise investment strategy, it is not the most glaring example of what is causing traditional investment types to call crypto a bubble. My top candidate are the naked ponzi schemes, such as Bitconnect, RegalCoin, Coinereum, etc. Followed closely by the garbage ICOs that never had a prayer of success. Then we have all of the "investors" who believe that ever "technical" analyst that fronts for a pump and dump of a useless alt coin is a financial guru. So chasing fork dividends may be lazy and misguided, but it far from the darkest force taking crypto into the mud.
I agree with you ponzi schemes, ICOs and pump and dump coins are definitely more harmful for the poor "investor" who falls into the trap as far as being the ones who have the greatest potential to make you lose the most amount of money, but these also are also scams that feed more on the ignorance and inocence of the new investors rather than the image of bitcoin and the future of blockchain technology