Cryptonization Fail ?

[cahbagus555]

Starting from 2016 we have seen all kinds of ICO's and later IEO's related to almost any existing business. People tried to blokchenize aka cryptonize almost everything. Online shops, Banks, Insurance, Medical services, Tourism, Real estate, Social media, Cannabis e.t.c.... e.t.c.... and even prostitution, gays and lgbt.... Some of them used ERC20 tokens and smart contracts and some of them created new altcoins. 99.9% of them failed because all that businesses are already established with fixed rules and managed by specially educated employees aka qualified managers. Nor of that businesses needed so called crypnonization. Also nor of them needed a new payment instruments like bitcoin or any other altcoin. Typical example of that are some banks that tested XRP which was developed especially for them, but finally all of them refused to use it. Someone will say that some online shops, bookmakers and casinos are accepting bitcoins, but the amount of such adopters is critically low. OK, blockchain technologies are used officially in some countries like Georgia, Estonia, and few others for storing some public data and cryptocurrency is officially recognized and taxed, but others are still very suspicious towards blockhain and crypto in general. Despite all this, dozens of new, completely unknown crypto projects, with some crazy ideas are appearing on the market almost daily. (Check "Recently Added" on coinmarketcap) Why am I posting all this? Because any educated economist who will see this situation will ask a simple question: Are all crypto projects listed on coinmarketcap used for speculation purposes only ? That is my question too.

In my opinion, all investments in any form, whether stocks, gold, or crypto including bitcoin are speculations. We know that no one expected bitcoin or ethereum the price would go up because at the beginning it was created, bitcoin had no price and in my opinion because it was speculation that the price of bitcoin could reach $ 20k because there was no underlying behind bitcoin.
This also applies to stocks, when we buy shares, maybe we buy because of good financial performance, but no one is able to predict the financial sustainability will last long or not.

[Kotone]

Yes, unfortunately now almost no one uses cryptocurrency for other purposes, except for speculation. In addition, it is not always possible to use it for other purposes, so we have this result. We need to promote the spread of cryptocurrency. Then people will see it not only as a speculative tool.

No one? I'm using my crypto asset for loan purposes, even paying my bills using my cryptocurrency. How come for speculation purposes only? That's only opinion of others but if its up to someone how can he used his cryptocurrency. Well someone looking on cmc is obviously concern about the price and its status, why not go to project update of that cryptocurrency, check out on github what is the latest trend or maybe they have new feature to try on. It's all about price right? I wonder only few here have real crypto enthusiasm for this tech.

[jcarlo]

Yes, unfortunately now almost no one uses cryptocurrency for other purposes, except for speculation. In addition, it is not always possible to use it for other purposes, so we have this result. We need to promote the spread of cryptocurrency. Then people will see it not only as a speculative tool.

Maybe now, cryptocurrency can be said as a speculation tool but if adoption occurs, I don't think it can be said to be speculation anymore. Investing in new projects is speculation because we do not know the team behind the project and also how they will achieve the roadmap that has been made. But if the product is finished and can be used by many people, I think the investment will produce results

[Bitfling]

It's too early to declare cryptonization to fail because cryptocurrency is still in its infancy. The crypto market value is above $ 200 billion dollars and I think it's too big to say speculation. There may be some speculative coins on the market but there are plenty of coins that are working on the project to produce a good product

[Febo]

Are all crypto projects listed on coinmarketcap used for speculation purposes only ?

Most coins and tokens that are listed on coinmarketcap have little in common. You cant compare them since are made differently and for different purpose. Only thing to speculate is their price. Coins and tokens are there to be used. Well not all but some. Those that cant be used or will not be used have no purpose and are useless and worth zero. The rest have some value and that value is speculative.  

[puertorikosena]

My personal opinion is that most altcoins that are currently traded on exchanges are not needed at all and they will disappear over time. All these projects are completely meaningless and do not cost anything.

[stephanirain]

Starting from 2016 we have seen all kinds of ICO's and later IEO's related to almost any existing business. People tried to blokchenize aka cryptonize almost everything. Online shops, Banks, Insurance, Medical services, Tourism, Real estate, Social media, Cannabis e.t.c.... e.t.c.... and even prostitution, gays and lgbt.... Some of them used ERC20 tokens and smart contracts and some of them created new altcoins. 99.9% of them failed because all that businesses are already established with fixed rules and managed by specially educated employees aka qualified managers. Nor of that businesses needed so called crypnonization. Also nor of them needed a new payment instruments like bitcoin or any other altcoin. Typical example of that are some banks that tested XRP which was developed especially for them, but finally all of them refused to use it. Someone will say that some online shops, bookmakers and casinos are accepting bitcoins, but the amount of such adopters is critically low. OK, blockchain technologies are used officially in some countries like Georgia, Estonia, and few others for storing some public data and cryptocurrency is officially recognized and taxed, but others are still very suspicious towards blockhain and crypto in general. Despite all this, dozens of new, completely unknown crypto projects, with some crazy ideas are appearing on the market almost daily. (Check "Recently Added" on coinmarketcap) Why am I posting all this? Because any educated economist who will see this situation will ask a simple question: Are all crypto projects listed on coinmarketcap used for speculation purposes only ? That is my question too.

Cryptonization is not only about making everything in every industry use cryptocurrencies but to integrate the communtiy to blockchain technology. It is not only about the money, the system itself of the industry can be "updated" using blockchain just like to the nature of new online gambling sites. Decentralization of some specific systems can help increase efficiency. Anonymity of the users can be used for canned transactions that do not require any liability from the law of the country.

[Pinkris128]

Starting from 2016 we have seen all kinds of ICO's and later IEO's related to almost any existing business. People tried to blokchenize aka cryptonize almost everything. Online shops, Banks, Insurance, Medical services, Tourism, Real estate, Social media, Cannabis e.t.c.... e.t.c.... and even prostitution, gays and lgbt.... Some of them used ERC20 tokens and smart contracts and some of them created new altcoins. 99.9% of them failed because all that businesses are already established with fixed rules and managed by specially educated employees aka qualified managers. Nor of that businesses needed so called crypnonization. Also nor of them needed a new payment instruments like bitcoin or any other altcoin. Typical example of that are some banks that tested XRP which was developed especially for them, but finally all of them refused to use it. Someone will say that some online shops, bookmakers and casinos are accepting bitcoins, but the amount of such adopters is critically low. OK, blockchain technologies are used officially in some countries like Georgia, Estonia, and few others for storing some public data and cryptocurrency is officially recognized and taxed, but others are still very suspicious towards blockhain and crypto in general. Despite all this, dozens of new, completely unknown crypto projects, with some crazy ideas are appearing on the market almost daily. (Check "Recently Added" on coinmarketcap) Why am I posting all this? Because any educated economist who will see this situation will ask a simple question: Are all crypto projects listed on coinmarketcap used for speculation purposes only ? That is my question too.

The cryptonization of many establishments like hotels and casinos are the beginning of the age of crypto. There are a lot of cryptos because each of them aims to target a certain nature of business. Though it is also true that  many of them look like the same of the older ones. Many did not succeed because of this. The main challenge of many cryptocurrencies is to be relevant to the society so people will support the use of it.

[Pr0st0Pr0be1]

Let's not lie to ourselves. Today, cryptocurrency is an exclusively speculative tool. Few people are concerned budeschim project as all pursue the goal to quickly cash in. Projects have ceased to produce a quality product and are needed only for what would be profitable to trade on the stock exchange or deceive crazy investors. We have ceased to evolve.

[Nolimitz84]

Yes, unfortunately now almost no one uses cryptocurrency for other purposes, except for speculation. In addition, it is not always possible to use it for other purposes, so we have this result. We need to promote the spread of cryptocurrency. Then people will see it not only as a speculative tool.

The thing is that many powerful and promising projects will live. And speculators as they were before and now they have not gone anywhere. We just have to come to terms with the fact that speculations and speculators have been and are!

[Findingnemo]

Crypto currencies are not failed,to be honest it reached great heights since it was created and the time take for this is reallty nothing compared to previous technology adoption but yes its not used a crypto currencies and mostly used for its speculative nature but this at least makes the crypto market move further and also companies like starbucks said they are going to accept as payment so in the next decade we have more places to spend our cryptos other than exchanges.

Hope for the best,enjoy the benefits.

[xiboothrezi]

Blockchain and cryptocurrency are still new. There are still many who try and seek profits through this hysteria. Some are serious, some are careless, and some are trying to cheat. It all depends on the development team, whether they really read the opportunity, the needs of the community, and find the right ecosystem niche to be developed, the mission of cryptonization will be successful.
There are many fields that have been touched by the blockchain, and many of them have had success, although we must realize that this cannot be used massively yet, well ... this industry is still quite controversial, slow but sure.

[Wysi]

Blockchain and cryptocurrency are still new. There are still many who try and seek profits through this hysteria. Some are serious, some are careless, and some are trying to cheat. It all depends on the development team, whether they really read the opportunity, the needs of the community, and find the right ecosystem niche to be developed, the mission of cryptonization will be successful.
There are many fields that have been touched by the blockchain, and many of them have had success, although we must realize that this cannot be used massively yet, well ... this industry is still quite controversial, slow but sure.

Yes we cannot just blame the whole crypto industry for failure of unrealistic projects without a proper planning as there are currently 3053 crypto coins listen in coinmarketcap it does not mean every project will be successful and most of the countries are trying to adopt blockchain but skeptical about crypto due to it's decentralized nature which will require some more time as crypto industry is yet to be streamlined. We need to support it atleast for the fact that it has provided us so many facility which the centralized institutions lack.

[BitHodler]

We just have to come to terms with the fact that speculations and speculators have been and are!

People don't seem to know what it exactly is that they want.... on one side they want to see this space actually picks up in use, but on the other side also want to see it go up and down the way it has done throughout the years.

It's not possible to have both.... use will only pick up when prices are stable, otherwise what's the point? Speculation will only continue when the prices pump and dump hard, otherwise what's the point of speculation?

I personally am fine with speculation considering the fact that in most cases we don't really need crypto.... it's volatile, not user-friendly, only attracts adoption when prices go up, and so on. Crypto is too hyped up in its current form.

[mickey_miner]

Are all crypto projects listed on coinmarketcap used for speculation purposes only ? That is my question too.

A very small number of people use cryptocurrency for its intended purpose, most people use it only for speculation. So far, this market is not regulated in any way and it is used to make money.

[Brunus]

Many projects are certainly only speculative, and other real scams.
However, if you analyze carefully you can find excellent projects with a good chance of success.
And it is a pity that even valid projects are penalized by general distrust.

[Kiefner]

If altcoin is used only for speculative purposes, it does not mean that it cant be used for something else. After all, everything depends on the people themselves. If you promote the spread of cryptocurrency, it will be used by other people. And not just for speculation.

[tsaroz]

Crypto is an overachiever. In short amount of time crypto currency has risen to Central attention of the world. Recently China announced they would boost up their R&D on blockchain  to counter US dominance in the field. So, it's a win for crypto.
Regarding the coins in CMC, they too are of different kinds, some are purely speculative while some are also pegged to the net profit of a company and many other ways to maintain the price.

[danggoron]

Of course not, this is one strategy to attract the interest of the community so they want to use it. The more people know about it the better it is to form market capacity. This is very beneficial for the long term. The wider adoption, both bitcoin and blockchain will increasingly make people aware of its functionality and effectiveness.

[setialovers]

Of course not, this is one strategy to attract the interest of the community so they want to use it. The more people know about it the better it is to form market capacity. This is very beneficial for the long term. The wider adoption, both bitcoin and blockchain will increasingly make people aware of its functionality and effectiveness.

I agree that crypto should be able to attract the attention of investors. But if there has not been a clear adoption, I think for a long time investor confidence will fade and could result in falling prices. Adoption is one of the important factors for crypto to survive