The Alt coins Crazyness
Hi guys ,
Here's the thing I think we all need to understand that there will be very few winners in this crypto currency market check the number of coins and they are over 700 can you imagine that....to be specific 710 but only a couple have over $10 Million market cap , check them out link here !
So far the following coins solve real world problems Bitcoin (most widely used for payments) , Etherium(most widely used for ICOs and smart contracts) , Litecoin(an alternative to bitcoins) , Monera(for anonymous transactions), Zcash(for anonymous transactions with development of a smart contract feature underway) and maybe Ripple for the banks , but these coins are not the largest by market cap but they are the first cryptos to really solve a problem, all the other coins are either in competition with the above or exactly the same....If you share a different opinion the same leave a comment.
You forgot to mention STEEM!
I fully agree that most will go to zero. But how many, and which will survive, who knows? I think the ones you listed, plus maybe dash and a few others are a good guess.
Dash major advantage is the solid marketing strategy especially in States and Europe, also their governance is pretty solid which is what bitcoin in particular lacks but they got a long way to go in terms of scaling.
It's worth looking at though.
@darkqueen
Yes - I think DASH is in with a fighting chance - also NEM and Auger
I'm skeptical that 6% of people are even remotely familiar with cryptos - maybe 0.6%?
http://www.frot.co.nz/design/computing/cryptocurrency-101/
I believe that DASH has a great potential too. Especially once they release DASH Evolution – it will be a game-changer!
hey mate,
thanks for sharing your thoughts.
yeah i think its not an easy market, especially altcoins. Investing in coins solving problems are going to be the best thing in the long run, i think.
Still im considering just let the most money sit in bitcoin and other big coins with potencial, rather than trading or hoping for some altcoins will get a big deal by maybe losing over time.
Greetings Darkwing
Darkwing,
I like your strategy of letting the cash sit in one or two top coins that's a sure way of minimizing risk.
With a small fraction of the portfolio though you could consider some weaker alt coins just for the quick money in them.
Thanks
@darkqueen.
710 different coins out there. Holy crap that's a lot. I know in poloniex I don't know most the coins use but didn't realize there were so many.
Hey Mate.
These are the coins that are in circulation not in development many more will be coming.
@darkqueen
I'm of a similar mind. Unless these alts are doing things I don't understand, I think most of the recent gains are fuelled by speculators who don't comprehend that bitcoin's first mover advantage and network effect are it's big drawcards.
I think it's lots of small speculators, each hoping to see a penny coin go to the moon. Unless I'm missing something, I think we're going to see a lot of burst bubbles, followed by broad criticism of crypto as a concept.
Bubbles will definitely occur look at most ICOs for example developers are building products concepts and sell tokens on the concept, I mean these bubbles are needed all of us at this space of cryptos are the pioneers so we will take the hit and our losses or gains will pave way for more mature adoption of the block chain technology,all said and done one thing is for sure , the wonderful work of collective human wisdom without INTERFERENCE of the governments.
I would add Golem ( computer power ) and similar SIA ( storage ) very very early stage but still they shoot to solve real problems and help us make some coin on the way