Wrong text
forget it
6 years ago in #crypto by scandinavianlife (68)
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Wrong text
forget it
I think being excited for crypto is justifiable if we are talking about established coins, because the technology is superior, and one way or another certain projects will find success.
But, the amount of projects that end up failing will be huge obviously. It is impossible for every crypto to succeed in the long term. We don't even know if steem will be alive in 2020... although I certainly think it will be alive and with a much higher price than today.
You said this
And that is exactly what I think crypto can do. I remember on a family meeting back in december I was trying to explain the concept of crypto, and one person say that "it was impossible to replace the banks"
Just like that... and of course, if you suddenly start thinking about replacing the banks or the complete financial system it sounds impossible, but this is not about changing everything in a couple of days, I see crypto as an alternative, an opportunity for people to not only make transactions but to also earn a living without necessarily participating in the traditional system. With both options coexisting.
Whatever happens next is difficult to say, but crypto should be seen just like that, as a cool and modern alternative, highly risky of course.
You make an excellent point. Especially since in our own communities people around us are exposed to bits and pieces of news every day, we can't allow real measures to establish the technology by government standards scare us. We will have to keep our wits about ourselves concerning personal wallets and security in that aspect. Knowing fact from fiction will be important as ever as things go forward this year.
The market until the current days has been very pleasant to basically any project related to blockchain. Adding "blockchain" in the company name itself could triple it's valuation overnight. The market will soon reach a saturation point where, in order to profit, investor will have to be more picky. Many blockchain based project will fail, only some of the thousands appearing projects will manage to survive and succeed.
Good post.
However disagree: crypto can't fail. Very soon central banks will be holding crypto as well. This tech has come and will prevail.
Blockchain cant fail. Crypto currencies can. Difference between utility tokens and the currency aspect. They can ban it from being a currency. Only let it funxtion as securities/commoditues and means of funding/investing/crowdfundung
Cryptocurrencies as such cannot fail, I'm quite sure the concept will continue growing - but I am concerned of the possibility that the dominant "crypto currencies" of tomorrow may be run by banks, having only a small subset of the features we attribute to a real crypto currency.
I believe most of all the current crypto currencies will "fail into obscurity" - like, still existing, still have a market value higher than zero, but with only a handful of people running some unmaintained "ghost nodes". Quite many crypto currencies are already there.
Some few real crypto currencies will survive and stay relatively strong - in best case they will go mainstream for real, in worst case they will only be used by a small community ... much like PGP never got mainstream.
Totally agree, it is too easy to fall into a dogmatic point of view. We must see cryptocurrencies and blockchain as an early steps of a new market as it was internet and the first companies born from it. Some of them become the huge companies that we see today and others die.
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Buen post amigo debemos tener todo esto claro y siempre presente.Gracias por el apoyo.
Good idea brother @scandinavianl
It is obviously impossible for all the coins to be present here in the next 5 years. I agree, a lot of them will fail. We just have to HODL the ones that don't. :D
Good read my friend! I hate those FUDS really. All they do is just making noise in crypto space. I'm fine with regulations and constructive criticisms but baseless FUD is just so childish for me. I hope people would be more aware and start to accept that we have to move on from "stone age"