So 2017 was the year of the overvalued shitcoins. We were all high and invested in projects that promised a lot of things. Almost no one was able to or will ever be able to deliver. I predict 80-90% of coins will be abandoned or die (if not the founders die first from being kidnapped by angry criminal investors like the wife of Bitconnect founder who was kidnapped and most likely killed)
In 2018 people started realising not everything needed to be decentralized and even when projects did go live they either sucked (Ethos) or no one cared (Substratum). Steem is a working blockchain with a lot of incentive to delegate SP..things are being built on top or on the side of Steem but no one gives a fuck. A cool game like @chibera is being made, a real MMORPG 3D game with a steem marketplace inside the game..cool right? Doesn't seem like people think that. Only 400SP has been delegated and 200 of it is from me and a friend.
So basically people arent even willing to invest and bet on the same coin/blockchain they are invested in.
2018 will be the year of the reset. This shitmarket will go to where it deserves to be. You wont to be rich? Sorry guys, it's going to take some more effort than this. You really think this was going to be easy? Or happen in a year?
In 2019, after all the ETF talk is concluded and we have an ETF or not, we will know the real value of this market. Right now I don't think it is worth more than 100-200 billion. It's an absolute mess. Frauds everywhere, lazy developers, crappy projects, childish investors, snowflakes and retards.
Hopefully all morons are selling in this bear market.
The biggest problem I see is the existence of obscure coins that no one even recognizes. Total market cap is not 200B, it's maybe 150B, just forget all the sh-coins.
The second problem is that general population is not particularly bright.
This is not offensive, this is just an observation and developers need to understand this.
Why are the masses not joining Steemit? Because it's complicated!
Ok, open account, wait, now what? Typing is difficult, you have no idea about the ecosystem, rewards are poor (if you have no idea what to do).
The third problem is fundamental: people don't want to do extraordinary things. They don't want to learn what is PoS, hash, markdown... And even if they have the technology, they still avoid using it.
Imagine you have a machine that can take you 1000 km in a single day, so you can experience something extraordinary. Would you use that amazing technology? Well... You probably have it... It's a car!!!
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