Why Investors Need To Worry About Blockchain Bubble

in #naijapidgin6 years ago (edited)

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It has been observed that so many people have now placed their trust on blockchain technology, reason being that, most believe that after all said and done, prices of tokens or coin must increase. That may go a long way to affect the traditional aspect of people's life, even without them knowing. It is normal for one to believe in crypto but we should also have it at the back of our mind that not all projects or idea requires a blockchain.

Bitcoin has successfully introduced decentralization to the world, which has no central point of failure and is not controlled by just one entity. The blockchain network upon which Bitcoin was built holds every information that passes through it, and cannot be changed nor tampered with because it has been recorded officially.

One of the biggest selling points of blockchain lies in the level of transparency it has achieved. For example, all the informations stored on the bitcoin blockchain network ever since it was created is still visible for every one to see. Transparency is what we need in this 3rd class world we find ourselves in. It can be said that public blockchain are striving hard to offer the type of transparency we are looking for, while the private are still lagging behind but might as well, offer a degree of transparency in the future.

Perhaps, most public blockchain projects are now fond of conducting ICO's without digging into their ideas in a professional manner. This has really posed a big problem to the blockchain industry as many now rush into investing in projects without much research on what they are about to invest in. We shouldn't be surprised to hear the death of 90% or more of the ICO's and blockchain projects we see today.

It is evident that ICO's gained popularity as a result of these 2 reasons: they claim to use blockchain in innovative ways, and speculators expect token prices to rise significantly. It is however advisable for all to carry out a proper research before investing in any of these projects because it is still possible that none of these reasons listed above would be achieved at the end.

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True. I think research is the most important word in this article. Too many people trowing money at sparkly looking projects without digging beneath the surface, thinking they are going to the moon cos they've found the next Bitcoin.

Stay smart people.

Yeah, you are absolutely correct, my friend

Most ICO that was raised last year turned out to shams.

Projects like Filecoin which raised millions are nowhere to be found.

This has caused issues for legitimate projects. I just hope we see some form of regulation.

@ogochukwu

Yeah i hope so too

Uncomplicated article. I learned a lot of interesting and cognitive. I'm screwed up with you, I'll be glad to reciprocal subscription))

100% agree.
There are too many ICO’s are out there. And some of them are scams... because they are so smart too, it is hard to know which one is scam...lol
Everyone who want to invest, they need to dig into it first.
What a nice advice.
Following you now. :)

I'm glad you like this #fam. thanks for the follow

Fantastic article @caesar816! You said it all... People have got to do their own research and also learn not to put all their eggs in one basket. Do add the bigwaves tag and you will be glad you did. Cheers!

#Bigwaves.

Yea, thanks for the contribution ma'am, it slipped off my memory. That "not to put all your eggs in one basket" is also very important. Thanks for the tips also, already tagged bigwaves, nigeria as well, because i remember the 2 tags work together, right?

i have always encouraged my friends to take out time and do researches on any crypto before investing... this is a clarion call for reiteration ... thanks for this bro

Yea you welcome Manny

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