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Remember when there were zany pumps all of the time, I has thought we may have seen the last of insane P&D alt runs
This is one of the things that intrigues me most about this year. If BTC goes to sleep, will people turn to alts?
The difference between now and 2015/16 when that was at its peak is that alts subsequently had their moment and delivered fuck all with knobs on. Then again that's probably not going to turn anyone off.
Remains to be seen, just as many lost, many made money too.
Did any of the ICO craze produce anything of note? remains to be seen, 99% crap I think, but there will be some projects that perhaps have a chance to go somewhere, nevertheless I agree people will still be all too happy to gamble on ICOS and ALts.
I kind of expect ETH may have another ICO craze,and security tokens on regulated platforms too, so I think we will see another ICO craze, though it will be in a different form, clustered with regulation.. which could be a good thing, and at very least this way people can be conned from their cash in a fully compliant and legal manner
Also, I do wonder how people will feel after further capitulation, sure there will be many burnt fingers, 97% drop a bit too much? how about a further 80% drop? great, cool now that you are rekt, can I interest you in one of these finest artisian custom top shelf ICO's? fully regulated, whitepaper and roadmap apply.
Funny thing is, I firmly believe that it is a goooood thing that there are shitcoins, and shit projects... if you think of all of the subject matters that BTC and crypto can teach people and people can study around, well getting burnt to fuck on a project, a currency a ICO, an investment, is PRICELESS education, and if its a lesson learnt well, its cheap at half the price.
Same thing should be for banks etc, bail out? nope sorry, banks closed now, you lost your money, what? well you should not have put all of your eggs in one basket.. you won't do that again will you? "know your bank" .
Anyway I am ranting
Yeah I can imagine a death spiral for many alts resulting in a huge cull, though new ones will pop up out of the next new ICO craze, and from some of those, should they crack the nut of acquiring users will survive, the others will slowly bleed.
TBH, cryptocurrency related businesses in general and Daps etc all need to start actually leveraging invested cash into real world applications, services and businesses that are not just technically viable, but also that can actually start gaining real world everyday users.... no users, no revenue, no revenue, no profit, no profit no company, no blockchain, no incentive and therefore doom.
So the projects that make it over the coming years IMO are going to have to shine in both providing a wanted and needed service, and at acquiring and keeping new users, so its the projects that can push out the tech AND solve "problem x" AND acquire users AND are well run and can remain in the green , are the ones that will survive... I expect at some point there will be two almost distinct groups, sort of like stocks and penny stocks.
In the meantime, I fully expect full on degenerate trading on exchanges...and for ALTS to be traded like crazy, because up to this point exchanges have been the one cryptocurrency business that have indeed flourished, made money, provided a wanted (needed?) service, and many of them have proven quite proficient at acquiring new customers... funny that. Talking of which there will be exchanges and new exchanges offering "security token ICOs" in a "security token regulated environment" popping up too.
