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
I agree. Like many stocks and companies.out there, most fail. You will have BTC and ETH but alot of these ERC 20 tokens will vanish.
This is so true, maybe 90% to 95% of those projects will die!
I think that the expected Consensus boost is not happening this year. The market is way different this year. Those who want the price low know they can slam it down regardless.
Wow well I haven't heard of altcoin before anyway
exactly thats right bro
I think that after lightning network most of cryptocurrencies will gone except privacy coins and some utility tokens
Sad if it so
Very true, I just hope many do not get burned in the process and as such get turned off the crypto scene
Totally agree. Even now, half of them are 'dead'.
I'd bet 98% of them don't last 3 years on average. With that said, we should still see quite a few hang around and prosper.
But steem and sbd is here to stay.
I agree, but I think it will take a few years before some of these projects go belly up. A lot of coins have roadmaps that cover several years and it will take a few years for all that funding money to run out before a team is held accountable for a lack of tangible goods produced. On the other hand, every working product started out as an idea until it got the funding and support needed to get it off the ground. Only time will tell
Totally agree. Like the dotcom bubble. People putting money into projects they did not understand, just because of FOMO. History repears itself again and again.
why are you so sure bitcoin is not at risk of being gone in a few years? just because its number 1 now doesn't mean it will stay this way... ask Nokia or AOL how fast the wheels can turn on you...
I wouldn't know that I've mentioned that but Bitcoin definitely got way better chances to survive than most altcoins combined. Whether it'll stay number one is written in the stars.
My view is very simple.
Most cryptocurrencies are tied to projects on blockchains. They are technological ideas that someone had. Anyone who knows Silicon Valley VCs knows the failure rate is 90%....they look to hit on 1 out of 10.
This is not different. Many of these projects are legit yet will still fail. There are many reasons why projects fail, lack of funding, lack of expertise, no market, too early, etc...
So I agree. Many of the alt-coins that are out there will die as the projects they represent prove themselves to be ill conceived or simply failures.
Don't forget, every altcoin is a candidate of being bitcoin!