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RE: How to properly evaluate a cryptocurrency before pouring all your life savings into it

in #cryptocurrency7 years ago

Good points. I always look at the sentimental value.
When I'm choosing my coins, I don't even check how much they're worth. I do the research on team and their solutions.
Great example of good coin like this is Gridcoin - it was built on top of very famous researching software, became a token of appreciation from scientific organizations to volounteers. Is backed up by 7 years of developement and big partners (such as Seti and other prominent researchers).

However there are traps. Another 'cloud-super-computer' coin, comming out soon is called Golem. Generally it seams like a great idea, block-chain based super-computer possible to be rented and used by anyone with credit.
However is there a market for such solutions? To make it short: No.

Really large computing power is already covered for science by Gridcoin. For private pruposes the code can't be distributed by block-chain, mainly due to the confidentiality of operations. It's also cheaper and more secure to keep a dedicated machine in an enterprise business. So golem, even thought it looks all flashy and shinny - by me is not such a great technology.

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You are quite right. For me personally real world practical application and mass adoption is what matters the most. In the end, even if you have got great, flashy technology, it will all be a waste if noone is using it.

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