What is No-Coiner? | CryptoWallet.com

What is No-Coiner?

No-coiner is a term used to refer to sheer antagonists who maintain a philosophy about cryptocurrencies, blockchain, and digital currencies altogether that see no value in them and consider them doomed for failure. 

Some argue that no-coiners are simply people who missed out on Bitcoin investment in the early days and, as such, express resentment towards the coin and those who have profited hugely from Bitcoin and the crypto market in general. They generally still lack coins altogether and are most vocal against the bitcoin ecosystem during Bitcoin crashes.

No-coiner is also a jovial term for someone that may not necessarily have such stringent opinions on digital currency but have little/no regard for them, thus having no cryptocurrency in their investment portfolio. The term generally sums up retail investors who hold no crypto coins such as Bitcoin and Ethereum in their portfolios.

Is there a problem with Bitcoin?

In short, yes.

The environmental impact of bitcoin mining is the latest in the list of hurdles the coin will have to overcome if it is ever going to be accepted as a form of money worldwide. Analysts say the energy consumption associated with Bitcoin mining can reach levels more than the energy consumption of entire countries, raising environmental concerns.

Another notable issue against Bitcoin being accepted as money is the slow transaction speeds compared with other existing digital payment solutions and the sporadic price movement of the digital asset.

However, the benefits of the coin or the issues it was created to address are not lost on the finance community, besides no-coiners, of course.