Charles Hoskinson , co-founder of Ethereum awho currently runs blockchain research firm IOHK (https://iohk.io/) thinks the cryptocurrency market will strengthen after bitcoin alternatives that lack substance have failed.
Why?
"What's going to occur is a lot of these ventures that don't have strong fundamentals, don't have good tech, or just unrealistic projects, they will eventually run into some major wall they can't quite overcome. They will fracture up and you will see a lot of them are certain to fail."
Projects like ethereum are likely to survive any potential crash because the foundation of the technology is itself valuable.
But what I think gets overlooked is the ability to withstand regulation, which I believe a project like Ethereum can do.
Yes, I know. Regulation is the dirty word in crypto that no one likes to talk about. The whole purpose behind the birth of cryptocurrencies was to avoid regulation. However, I think that type of thinking is naive. It is naive to assume that a whole new industry, worth billions of dollars, won't attract attention in the form of regulations of some kind. If it's not bank-backed regulations like with traditional currencies, some sort of consumer protection would be needed, for example (just think about all the stolen and lost crypto stories you've heard about on what seems like a daily basis).
I don't believe that cryptocurrencies can remain completely unregulated forever. It's a matter of when, not if. Better to prepare for the worst than hope for the best and act as it the best is what is going to happen.
Link: https://www.cnbc.com/2018/01/09/cryptocurrency-market-crash-consolidation-ethereum-co-founder.html
Nice post! I will follow you from now on. +upvote
Congratulations @mmilos01! You received a personal award!
Click here to view your Board
Do not miss the last post from @steemitboard:
Congratulations @mmilos01! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!