Many Altcoins Will Simply Be Gone One Day!
Yes I'm convinced that many altcoins will die one day. You might ask why and my answer is simple, because many projects have basically no use case at all while some are not even brought forward anymore due to a lack of developers or other reasons....
It's honestly just crazy to see that some of those projects are valued in the millions without even having delivered a single thing on their roadmap. It's nothing else than pure speculation by some people that keeps those tokens alive.
That being said I sometimes question the investment skills of some people within the cryptosphere. I mean why the hack would you put any money into thin air? Into something that doesn't even exist neither show any progress on github after all?
I personally am therefore only investing into projects that show some progress and are actively engaging with the community about it. What's your approach on selecting the tokens you put your money on?
A Crypto Startup Revolutionizing Steem! |
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Yes I totally agree, security and decentralisation is a joke by most of the alt coins and when they become relevant this will lead to failure. Others will even fail to become relevant. BTC is the only proven blockchain.
This is certainly to happen, only if we have more investors in the coin, that it what can safe it, and before an investor can invest, they have to know the roadmap.
"..... and there is no new thing under the sun." - Ecclesiastes 1:9
One need only look back to the dot-com bust in early 2000. IPO mania! Sky-high valuations! Absurd P-E ratios!
98% of those internet startups just disappeared.
A few (Amazon, Ebay, etc went on to become powerhouses) and corporate interests went on to dominate the internet space.
This is why I think Ripple will be the template for the future.
All of the "dreamers" out there that think cryptos will remain decentralized and outside the system are delusional. Blockchain is the real miracle, not Bitcoin/Litecoin/Dogecoin.....
The reason Amazon does not accept Bitcoin is because they are big enough to make their own and it will dwarf all of the existing cryptocurrencies combined!!!!
Same with Google, Walmart, BOA, JP Morgan, and the list goes on and on.
We are still in early stages of blockchain technology. We are yet have the killer blockchain application except from cryptocurrencies. Many of the projects are interesting and use some of sweet things about the blockchains like distributed, trust, decentralised etc. As the adoption increases we will be more focused on the use cases and stupid ideas will run out of oil to continue in market. Something similar to dotcom bubble.
There will be all these "hot-air" projects for as long as there is people willing to throw their money after them.. This is the wild west, and is's beginning to look more and more like casino gambling...I agree that a lot of the alts will be gone in the future, but it's going to take time, not going to happen while the cryptos are hot... Just think what will happen if the whole crypto market takes a giant dip, and many people loose basically all their money...
As soon as people realize just how risky all these coins are, a lot of them will collapse..
Thanks for sharing! great article!
I agree with this, crypto is similar to the dot com bubble and a lot of altcoins that have no real value and are only on the market due to companies wanting to do an ICO will collapse. The stronger ones will survive though
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But steem and sbd is here to stay.
Very true, I just hope many do not get burned in the process and as such get turned off the crypto scene
I think that after lightning network most of cryptocurrencies will gone except privacy coins and some utility tokens