THE FUTURE OF CRYPTO
As the members of STEEM community I believe most of us have fate in the future of crypto market.
But since the flood of new coins we have seen in the past few months we have to be careful with blindly investing in any new coin that comes to market. Because the market is overflooded with them and we can not reasonable assume that the market will welcome any new coin that has little or nothing in a way of improvement to offer.
I have read the multiple forecast that up to 90% of the coins will fail. And I am inclined to belive these report but then again I sincerely believe that the other coins that will survive have the potential to make any investor rich and world full of new opportunities
In a recent years with increased governments interferences in banks and small business during the financial crises a need arose for a free market where people can do business and raise money free, fast and without intermediators.
Here we can draw a parallel with the boom of internet companies in the 90s. There was a need to connect the world and the need to share all the knowledge faster and easier and so the abundance of new companies was created bad that led to many companies for market to support being created. And so the companies that were the best and had the most capital bought the others with good ideas and forced the remaining with mediocre idea to bankrupt. All that led to few companies to rise and control the markets.
But the exact same scenario with crypts is unlikely because the whole idea is based on decentralisation and that is why the coins with something to offer will survive and the market will facilitate others that will not offer any innovation crash.
THE LIST OF FEW CRIPTOS I THINK HAVE THE BIGGEST POTENTIAL IN THE FUTURE
IOTA- offers a fast transactions with almost fees
RIPPLE - although it made a deal with banks that will ease the transactions and although that is exactly what I am opposed to pragmatically looking a lot of people still prefer some kind of regulations
STELLAR- works in similar way to ripple-works with IBM biggest producer of ATM machines
ETHERIUM-revolutionised the way of raising money
NEO-similar to ETH but Chinas go to platform
BITCOIN- already too big to fail
BTC CASH- improved version of BTCs shortcomings and its promotional name
And of course STEEM and other blogging and social networking websites based on block chain database.-because they offer a huge potential of sharing the ideas and a live community.
If you belive in other Crypto-currencies please share your thoughts in comments below.
Nice post. Not a bad list at all! While early contenders like those listed above will have an immediate advantage, I also think that once this concept takes hold, next-gen blockchain will be the real winners. The awareness is still so small, that these newcomers that seem unheard of to us, will offer so much more in innovation, speed, security and ease of use... Stay tuned!
do you know of any such a newcomer that has, in your opinion, a great potential for the future
@janci, so far AION, Neblio, and Wanchain are appealing. Current sleeping giants could be Nexus and Bancor, of the top of my head. But like I said, there is a huge opportunity to improve on existing blockchain and additional companies may arise to fill these needs. The difficulty today is sorting through the ICO's to find some truth in the future...
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STOP'I have read the multiple forecast that up to 90% of the coins will fail. And I am inclined to belive these report but then again I sincerely believe that the other coins that will survive have the potential to make any investor rich and world full of new opportunities'
People forget that coins/tokens represent startups to a certain extent. And it's said that 90% of startups fail. Well, I would say the statisctics is probably closer to 99%. In this case though, it's a bit different cause these tokens that are out there now, they are not pegged to the company, they are not equity tokens. So if the company ceases to exist but people will continue to use the token for a certain cause, then it will survive. E.g. Useless Token or Doge - they were jokes at first but as people are trading them, they became kind of established coins.
I agree with you but for a token to still have some after the company ceases it has to have a lot of capital invested in it already and also not I doubt that market can support thousands of coins that do not offer any improvement to other major coins. Anyway a lot of ICOs can compare to start-ups whereas BTC for example hardly can.