✴️ ARE WE TOO EARLY IN THE CRYPTOCURRENCY GAME? 🤷🏼‍♂️

in #charlesfuchs2 years ago (edited)

https://s3.us-east-2.amazonaws.com/partiko.io/img/stackin-are-we-too-early-in-the-cryptocurrency-game-v3vc9bee-1537651441436.png

Hey STACKERS!

This question is asked from time to time... “Are we just to early in cryptocurrency and the blockchain game?”

I’ve expressed my opinions about this in the past and I do believe so (most people hated on me for this 😂).

People need to realize that blockchain is here to stay but 99% of the current cryptocurrencies that we see today won’t be around in a few years.

Too many people are drivin’ on speculation and fast money right now with coins that have hardly no use case at all. 👀

The evaluation and market cap of most coins are ridiculous high. They don’t even make any money but is the tech worth billions of dollars?

For example, look at the beloved Ethereum... are they really worth 20+ billion dollars?! Heck no! No real investor will say so, they don’t even make money as a business. 🤔

There are only a few thousands people even using the Dapps on a daily bases and the coin is literally useless and just good for running a money grab ICO’s. Just in a few months, the tech is already outdated and slow as fu*k! 😂

This just reminds me of the 90’s dot com bubble when any website you launched was worth hundreds of millions of dollars but they never made one cent. If you guys been around at that time, you might know what happened to all of them.

“Well Charles, some of them can be the next Amazon or Google?” I highly doubt it, most of them came out after many failed and it took them decades to have mass adoption. 🤦🏼‍♂️

Check out what Gary Vaynerchuk had to say at the chainxchange conference in Las Vegas:

Within 20 minutes, Gary hit the nail right on the head... like him or not, he is totally right.

I’m still a huge believer in Bitcoin and only a few cryptos like Steem + EOS. They are not going anywhere. Many more coins will come and go in a few years... and only a few will survive.

What do you guys think? Are most of these coins already set up for failure while new cryptos later down the road will be the monsters of crypto?

Keep On STACKIN! 💞

~ Charles Fuchs

For those who's interested in following my "Content" and "Daily" Posts... you can just follow me @stackin to get my updates.

Posted using Partiko iOS

whaleshares-whalepower-stackin-charles-fuchs-social-media-entrepreneur-investor-business-owner-marketer-top-ranked-cryptocurrency-crypto-new-whale-boss-popular-leader-upvote-influencer.jpg

Sort:  

I think we’re pretty early and we’re taking on a lot of personal risk at this stage and many of us who are invested are going to get burned but in the grand scheme of things it will be pennies towards a greater good

I agree most of the Crypto’s today won’t be around for very long and we will continue to see projects belly up and consolidate into bigger projects not just in value but in some of the tech they have produced

Bitcoin will always be around since it’s the gateway to crypto and the brand is so strong while I still think ETH has a lot to offer. I also think the valuations are crazy for many of these projects especially when they have no revenue streams

The Crypto’s I like are still BTC and ETH and STEEM perhaps I’m bias on that one since I’m invested so much time and money into it but it’s one of the few functional blockhains for day to day use

I also like NULS simply for the concept of modular blockchain deployment and even though the project may not make it I feel it’s concepts would be valuable I future and absorbed into other crypto projects

Posted using Partiko iOS

Makes sense. I’ve been looking into nuls, I might have to get some so I can stake it and get free tokens lol

Posted using Partiko iOS

I totally agree most coins will rightly so disappear over the next few years and hopefully we be left with some great coins, keep stacking. Cheers mike

Thanks for your honest opinion I totally agree with you most project, even if they have good tech, will have a hard time surviving over time because user adoption is slow and it needs a lot of community work to grow. Thats why I'm also optimistic about Steem we have great people here who are willing to go thru bumps in the market and still develop Steem further. I also think that Steem isn't that in regards to decentralization it will take time but the Steem Ecosystem and usage of Steem&SBD are growing. Steems really lives off its User base and independent developers thats what I like most.

Posted using Partiko Android

The reason I like steem is because they been around for over 2 years and not even one single crypto/blockchain could even come close to starting one out. In other words, even though steem has problems, it’s years ahead 😎

Posted using Partiko iOS

Right on, lets Rock the Steem-Boat!!!

Posted using Partiko Android

🙌🏼🙌🏼🙌🏼

I agree with Fuchs

You better not... you will trolled by all the “moon boys” on social media! 🤣 😂

Posted using Partiko iOS

Ah ah ah I know🤣 I just was joking😁😆😉 Besides we love to create controversy that's fun😘

Let's create some drama haha jk 😋

Ahahah Charles Fuchs is the only King of Cryptodrama!😂😂😂

Dude, that Gary V video was awesome. Watched the whole thing. We gotta get him on Steem!! 💪🏻

Posted using Partiko iOS

Dude knows what he’s talkin about. Wondering why he’s not on steem, he has a huge social media team 🤔😀

Posted using Partiko iOS

Well yeah in a way I do agree with your points and the ETH ex was cool and yeah in time it will be overtaken by if they do not find any solution and in the long many coins will come and go .LOL lets see what time will do those coins ;)

The ETH foundation is great and they will be around but as a token, the days of dominating will come to an end 😬

Posted using Partiko iOS

Well said man. Currently, Bitcoin is the only blockchain that is secure enough to be truly censorship resistant.

That’s a fact, wonder is the super computers that will come out in a few years can break it. Who knows lol

Posted using Partiko iOS

Hey mate, I'm quite new into the whole cryptocurrencies myself and have one of those erc20 wallets with bulk shit coin tokens heck they are useless. I thought I read an article recently that the American private sector will lead on innovation in the crypto world lol see link here https://www.ccn.com/u-s-lawmaker-introduces-3-pro-cryptocurrency-bills-to-congress/

As for the next Amazon or Google we will see what's in the pipeline I know lots of focus around the social media development scene with snapchat users

Did Microsoft purchase github yet?

Posted using Partiko Android

Totally agree, most ICO have already started private round before and or if they do launch it to the public. The future looks bright but the “powers” to be will do what ever they can do to control it 😀

Posted using Partiko iOS

Yeah probably in the future people will be laughing from us all excited for the highest value for bitcoin was 12k lololol because it will me 200k in the future. Lol

Posted using Partiko Android

Then I can buy be a lambo haha

Posted using Partiko iOS

I think a few coins will moon but it's going to be because of pump-and-dump type deals. Or maybe some kind of news that makes something rise up, but I don't think most of the coins we see today will exist in a few years.

It’s a game of patience lol

Posted using Partiko iOS

I trust your belief on Bitcoin and Steem @stackin! I know you've been in this business for a long time now. 😉

Shhh, don’t tell everyone haha

Posted using Partiko iOS

Well, one can never be too early... Choose what you believe in and investigate what has potential and we will be fine!

All of them have potential but that’s about it... lol

Posted using Partiko iOS

mmm, I am not so convinced about that. I have very little faith in about 90 % of the top 100 on CMC... But that's just me

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

I think Ether Classic has the immutability and conservatism of Bitcoin. I like that. All these new coins are just trying to add governance. Like, why?! I don't want someone controlling my money.

Coins mentioned in post:

CoinPrice (USD)📉 24h📈 7d
BTCBitcoin6715.670$-0.27%2.79%
EOSEOS5.978$-1.42%10.61%
ETHEthereum241.052$-1.72%8.35%
STEEMSteem0.859$-0.05%16.85%

They say use it or lose it... I believe you're right. The coins that don't have a valid use case are going to die a long slow death.

Time will say who is the long racer horse, still up to that we have to wait for time counting and some miracles! See you at next February!

Depends where your money is.

Bitcoin and EOS are nowhere near where they were just over a year ago.

Also, while STEEM is back to the same price, the fact we’ve been building our accounts mean that we’re well ahead.

It’s still early, but we’re not too early to benefit.

Posted using Partiko iOS

Awesome, Gary V ist brilliant! Thanks for sharing.

He's totally right, and even if many of us aren't currently working in the space, everyone of us can actually help foster the whole thing:

  • try using DApps, i.e. go through the pain of installing and using Metamask or Scatter, load your account with 5$ worth of crypto and play around
  • try to pay your next coffee or sandwich or cinema visit with BTC, LTC, DASH or whatever
  • provide feedback to the makers or solutions that you've used above
  • and of course: be active on Steem
  • tell your friends about how cool the solutions are (not how much money they can make speculating)

While I also agree that most of the coins will not be worth much at some point (after all, they're startups, and 90% of startups fail), I would kindly disagree with the opinion about ETH. There will be multiple solutions out there, and Ethereum is likely to stick around for a while.

Posted using Partiko Android

99% are definitely set to fail... And when ETH itself fails, they will all flood into the DPoS chains 🤑

Posted using Partiko iOS

Gary makes some amazing points! Its all about building a foundation.

well many joined in the hype and many are not even in this league but those who stood by it will learn and earn a lot :) this is a game changing thing

Hi @stackin!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.222 which ranks you at #219 across all Steem accounts.
Your rank has improved 1 places in the last three days (old rank 220).

In our last Algorithmic Curation Round, consisting of 337 contributions, your post is ranked at #7.

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • Good user engagement!

Feel free to join our @steem-ua Discord server

Most projects will fail and that's why a long/short strategy would make sense. To bad there are no derivatives on cryptocurrencies.

I think gary vee talking about crypto is bullish for the industry, but gary is not a source of authority in the industry. I personally do not like him as much becasue he will take any event that pays.

Coin Marketplace

STEEM 0.19
TRX 0.03
JST 0.028
TRX 0.03
STEEM 0.19
JST 0.028
SBD 3.40