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Author Topic: 99 Percent of Cryptocurrencies are Worth Zero? What the hell?  (Read 1018 times)
Kakmakr
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October 16, 2018, 06:26:46 AM
 #21

The guy is a snake oil salesman.  Roll Eyes If you look at markets and you see a steep increase in the price of a specific commodity, then it is easy to predict a future collapse. He is sitting there, waiting for something that looks like a bubble and then he starts with his predictions, based on the growth of that so-called Bubble.

He was lucky the first time and the so-called Bitcoin bubble was easy to spot, so he just waited for it to spike and then predicted the collapse, based on the correction phase.  Roll Eyes

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October 16, 2018, 06:39:46 AM
 #22

Dr Doom is only talking about advanced economies because he lives in a bubble. When he gets his ass out in the real world he will realise that bitcoin can save countries like venezuela, iran, and many others with decentralised economies

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October 16, 2018, 07:03:06 AM
 #23

Most of the the tokens I’ve encountered was shitcoins and has no value. It’s definitely a scam ico, that was one of the main reasons why im kinda getting tired with cryptocurrency and tired of investing on ICO’s because most of my money and efforts are going to waste.
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October 16, 2018, 09:06:04 AM
 #24

Somehow I believe this kind of thing. Most of the coins are useless and had zero value. Anyhow, if we are unable to handle this situation like buying at the peak but useless and no value at the end, the hilarious thing is that regret is always there to touch our emoticons.
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October 16, 2018, 09:09:44 AM
 #25

For the most part this is true. I look for campaigns where the managers have ran ICO's before. I also look for Projects that already have an open business. This helps. Find a great project with a great community backing it. One that  does not have an unreachable goal. You may make some great money. Really research a project before you invest and make sure to follow on all social medias. Buy the news. Sell the Launch

You set an example that cryptocurrencies are not worth  zero, they definitely are worth something, if you use them properly
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October 16, 2018, 09:14:53 AM
 #26

many friends lost their money if this continues then in future no one will invest in cryptocurrencies .
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October 16, 2018, 10:40:19 AM
 #27

I was tired of reading news from famous people like him, when the price of bitcoin dropped they would say that bitcoin and even cryptocurrency are scams. But when the price goes up they say this is the future, the right technology. It's nonsense from people who don't understand anything.

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October 16, 2018, 11:25:08 AM
 #28

Doom just needs some attention, if you read about his latest stunt, in detail, (available on any popular coin blog), you would see how silly he is. just ignore him, please.

it's hard to ignore him and his post because he is posting a fact on what happened the last time we had a big pump and he has a good theory, but crypto-currency is well and alive we just have to be careful on when and where to invest so we will not be part of those who lose so many funds.
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October 16, 2018, 11:31:12 AM
 #29

I don't like generalizing. The author is not very competent. Therefore I think it is necessary not to take it seriously. Crypto market is getting bigger. You can see it always on coinmarketcap. There is no need like this person.
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October 16, 2018, 11:49:16 AM
 #30

Doom just needs some attention, if you read about his latest stunt, in detail, (available on any popular coin blog), you would see how silly he is. just ignore him, please.
I agree, but not just Dr. Doom theres a lot of people who say bad things about cryptocurrency its funny that most of that people has an investment in it. Some of them might have a bad experience with it thats why they say those things.

I think 99% is too much, yes I agree there are lots of cryptocurrencies that is already dead that is because the project or product is not good or a scam.

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October 16, 2018, 11:56:12 AM
 #31

There are very few liquid cryptocurrencies on the market. Even those that have large daily trading volumes do not have a real demand.


I think you need to create services, not new coins.
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October 16, 2018, 12:20:34 PM
 #32

All more or less knowledgeable about cryptocurrency understand that the crypto economy is unstable and there are many whales that are monipulating. But still, many people trade on crypto exchanges. Because even on a bubble you can earn.

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October 16, 2018, 12:24:36 PM
 #33

All more or less knowledgeable about cryptocurrency understand that the crypto economy is unstable and there are many whales that are monipulating. But still, many people trade on crypto exchanges. Because even on a bubble you can earn.

Cryptocurrency is still new compared to other markets that's why it is still unstable and fluctuating which would make it a good opportunity for traders because the fluctuating prices are a huge opportunity to earn.

As we have observe, the market capitalization is huge but if we only take into account the projects that are used for its actual use case then I can say that 99% may be not used for it yet and are just existing for trading purposes.

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October 16, 2018, 12:33:53 PM
 #34

I think that not all cryptocurrencies have no worth and most likely we are just experiencing a bear market where btc has been struggling to move forward and break the resistance. However, this is not over yet as btc may soon recover and may happen to make a bullish run soon which I hope it will be within the year. People should not get disappointed easily for cryptocurrencies will be active soon in the market and I would suggest that investors should further hold their coins. Wait for the right time for it will soon to change the market's history again.

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October 16, 2018, 12:44:02 PM
 #35

it is not like that the market  is down at the movement for that reason the other cryptocurrencies are also had very low value

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October 16, 2018, 12:47:18 PM
 #36

this statement is a little exaggerated but it is not all wrong either. in fact i have been saying the same thing for a long time now and if you really study different cryptocurrencies you will come up with a similar conclusion that a lot of altcoins (majority of them even) are completely worthless and shouldn't even have a value.
and this is one of the main reasons why altcoins are always going down in the long term.

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October 17, 2018, 03:44:26 PM
 #37

The blockchain technology is very useful, it is not limited to coins and money.
There are many uses for blockchain and it can make our life easier by improving services quality and making them more trasparent.

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October 17, 2018, 03:54:45 PM
 #38

In some way he is talking the truth in some way he is talking trash for me. The truth is; yes there are 1000s of shitty coins, actually most of them got great ICO but after that today their coins worth of ZERO. Nowadays there are some projects which will try to avoid all of us from the scam ICO's but i am not sure about them too. But in second hand we have to think positive and we have to try harder to find right Project/ICO/Coin for ourselves.

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October 17, 2018, 04:36:43 PM
 #39

Though I hugely disagree with most of what Roubini is saying, I sort of agree about 99 percent of Cryptocurrencies being useless, though probably 95% would probably be a better number. It's just a combination of scams and legitimate projects that really just doesn't need decentralization and tokenization, that are most likely bound to fail.

I view things differently, largely because of what I learned from Satoshi years ago. He once said:

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But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.

You say that 95% of cryptocurrencies are useless. Why does that really matter, and what does that have to do with market value?

The fundamental value of money -- including Bitcoin -- comes from its network, not its "use cases." People can use seashells as money (and they have). What use do seashells have? They're completely useless, and it doesn't even matter because they're scarce and transferrable. That's the beauty of Metcalfe's Law.

Too many people are stuck in an old world mentality -- they say "money must be physically backed, otherwise it must be backed by usefulness." That's a bunch of nonsense that nobody could possibly prove, and history is awash with examples that prove otherwise. The best money is actually useless because it makes supply more predictable. Carlton Banks made a great point about this once:

This is a good reason why gold and silver are somewhat losing their currency: they finally have a practical/material use in the modern industrial world. Before this era, gold and silver did have small scale use in things like teeth fillings or cutlery sets, but the bullion value was always well recognised (hence the "maid stole the silverware" meme).

Objects used as money without alternative purposes are the best money, it makes the money supply more stable (and hence predictions about the size of the money supply will be more accurate). You never have to worry about someone using Bitcoin to catalyse a chemical reaction, or to wipe their ass with.

If you believe that sound money is decentralized, then you ought to value what the market says -- not personal opinions about what's "backing" cryptocurrencies. The people that say "altcoins are scams, they're going to zero" are employing the same logic that says "Bitcoin is a scam, it's going to zero."

That's why I always smile when I see people get worked up over how "useless" altcoins/tokens are. They remind me so much of Bitcoin skeptics.

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October 17, 2018, 04:49:22 PM
 #40

All more or less knowledgeable about cryptocurrency understand that the crypto economy is unstable and there are many whales that are monipulating. But still, many people trade on crypto exchanges. Because even on a bubble you can earn.
It really is. So what if bitcoin bubble. If you understand its nature and correctly assess the situation, you can make good money on it. In addition, the cryptocurrency in general is very promising and it will continue to develop for a very long time. However, there are some excesses and they are inevitable. Yes, Bitcoin is now used incorrectly, as a result of which it is able to grow rapidly in value and is practically no different from a financial bubble. It must be remembered that investing in it will be quite risky when it has a very high price.
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