RE: THe Curious Case of Cryptocurrencies - Do They Really Have a Chance to Become The next Big Thing?
I am very new to all this but I have been looking at charts and reading articles almost constantly since December. There are definite trends emerging. I think the main problem is there are so many competing currencies and people are trying to jump on the next bandwagon.
It is a massive gamble.
The only people who made money in the American gold rush were the people who sold the shovels. And the people who provided the "entertainment".
Maybe these are areas where people need to look rather than the currency itself.
Though I know I have dabbled. In a very tiny way. Trying to spread the risk though. Litecoin went up then down, Bitcoin did the same only more extremely, Bitcoin Cash is still a bit volatile but less so.
Amusingly Dogecoin is the one that has given the most return so far! (Oh, and Steem, of course)
Great comments and wise words my dear. The challenge is with all ff the euphoria it is hard to have a factual conversation about things. I am writing asking what is really wrong with fiat currencies and do we really want decentralized currencies. I am not sure people are thinking this through clearly. Yes they have issues but they also have an organization regulating them who you can call when there is a problem.
If you read the lawsuit against Bitconnect where people lost millions the defendants are named by their Internet handles meaning the government does not even know who they are. How is all of that going to work for us? I am a firm believer in blockcahin but I hope that all of the hype, dark cryptos where drug and arms dealers dwell, and scamming does not cause over regulation and the sheen to come off. This is all new tech and none of it is proven right now. No one knows if it will work, work long term or implode as it scales. Btu with the light shined so brightly it will have to get its "big shot" under the bright lights.
I am watching closely because I am about to launch a tech company this year and will utilize blockchain but I have to be careful because if we end up on the wrong side of it, it will cause a drag. The most exciting part for me is redistributing power. I just do not want people's passion to be high jacked.
I am following you. Please keep in touch. All the best to you and keep Steeming.