mosprognoz (OP)
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October 30, 2019, 01:52:03 AM |
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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.
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crazy-pilot
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October 31, 2019, 09:54:13 AM |
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Many projects were created in order to help people, to make some area more successful and convenient to use. However, there are many projects with the goal of earning and nothing more. Cryptonization has just begun, let's see what happens next.
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Text
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October 31, 2019, 10:01:05 AM |
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To answer the question, not all crypto projects listed on coinmarketcap use for speculation purposes only because there are still good and promising projects created especially those belong on Top 10 and even most altcoins are only made to make profit which happened to ERC20 tokens cases. Data on CMC are just only a guide/reference that compile all informations about a token/coin.
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tenakha
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October 31, 2019, 11:30:58 AM |
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Are all crypto projects listed on coinmarketcap used for speculation purposes only ?
For the majority, the answer may be yes, but not for all. Essentially though it is, some are not only used for speculation. Suddenly we already can not expect that crypto will be used everywhere. Just remember when it was used in darkweb, now we have places we can use any cryptocurrencies as payment, and after some time we will develop further, and it will not be used only for speculation.
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NeuroticFish
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October 31, 2019, 11:44:10 AM |
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Are all crypto projects listed on coinmarketcap used for speculation purposes only?
No. Not all, at least not from start. Just too many. There are obviously a lot of projects with no substance, only to get money. This has become a problem and I see no good solution for it. But there are also projects that wanted to get some money to start up: some got the money, some didn't, some used the money well, but most didn't. Some had success, some didn't. Some still have success, some are dead or dying. Actually even the "honest" coins, with no ICO, IEO or whatever have also become subject of speculation, just because it's possible. But isn't this something that also happens on stock markets and Forex?!
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sangjoewara
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October 31, 2019, 11:58:45 AM |
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Many projects were created in order to help people, to make some area more successful and convenient to use. However, there are many projects with the goal of earning and nothing more. Cryptonization has just begun, let's see what happens next.
What hasn't happened is certainly very difficult for us to predict, because we have to wait so we can see what will happen next, because in the past year many have seen that the average project only prioritizes their own income, and this year is also not much different from last year.
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Yaunfitda
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October 31, 2019, 12:01:55 PM |
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Maybe 90% coins listed on coinmarketcap can be describe as for speculation, or simply to create more money. That's why 90% turns out to be scam in the end.
But there could be some coins out there that could really help or at last have real life usage that's why they are still in the marketplace after all. But it could be debatable as to what coin it will be. Just look at ETH now, way below it's ATH but still people thinks that it can still bounce back in the future.
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Chain Clash
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October 31, 2019, 12:11:21 PM |
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There's a bunch of aspects to this: 1. Value is always based on trust - e.g. trust that you can exchange A for B. This is also true for all kinds of coins 2. One can't create new "money" which has value out of nothing. If nobody sees value in it, it won't have value 3. Tokens (at least in theory) are good at building economies. Why? Because through the token the actors in the economy can participate in a value increase of the economy through an increase of the token value
So the issue is that most coins / tokens don't really have an economy behind them. There's hardly anything (useful) that you buy with them that you couldn't buy with anything else, and they don't serve (enough) as an incentive to participate in the economy.
Btw participating in an economy typically includes SPENDING tokens. This is the biggest issue I have with pure HODLing as it does nothing to fuel the respective economy, it's only a means of "not increasing supply".
Tokens haven't failed, though. We'll see a plethora of great use cases in the long run. Unfortunately, only few of the coins currently in existance will be part of that successful future.
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★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆ ★☆ Chain Clash Pre-sale is live! ★☆ ★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆
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DaMut
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October 31, 2019, 12:22:54 PM |
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Because the majority project is a scam, many people view cryptocurrency used for speculation only but the truth is not. They are making a statement based on outer shell of cryptocurrency when scammer and fraudulent projects gather. If they dig deeper, they should know not all of them are purposed for speculation and they should know cryptocurrency created to revolution our technology. Crypto has not failed, it has not even matured yet because of the legalization issue.
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Chain Clash
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October 31, 2019, 12:39:55 PM |
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Because the majority project is a scam, many people view cryptocurrency used for speculation only but the truth is not. They are making a statement based on outer shell of cryptocurrency when scammer and fraudulent projects gather. If they dig deeper, they should know not all of them are purposed for speculation and they should know cryptocurrency created to revolution our technology. Crypto has not failed, it has not even matured yet because of the legalization issue.
I think that many projects weren't actually started as a scam, it's more that they were delusional about the impact they can make with the money from an ICO or so. If you don't have experience managing a company and its funds, 10m$ can be very little, but their promises were typically huge. Also, many projects have "lost" a lot of the raised funds due to the bubble burst and weren't able to get additional financing (which, based on their traction, is understandable).
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★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆ ★☆ Chain Clash Pre-sale is live! ★☆ ★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆★☆
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vanya.pronin.1983
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October 31, 2019, 01:09:04 PM |
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In general, yes, the last two years, were awful for the whole industry. BTC was falling, as well as other altcoins, and during the last 18 months no altcoin has shown a solid growth. Only BTC pumped a little bit, but nothing more.
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Red-Apple
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October 31, 2019, 01:19:44 PM |
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unfortunately all the recent altcoins have been for pure speculation purposes and for years this has been the dominant reason for creation of them. but i wouldn't say all of the altcoins are like that. there are some rare smaller projects that have been created for advancement of the technology and these are the altcoins that had no fund raising, no premine and absolutely no ICO (tokens). they are stand alone blockchains. and unfortunately have small market caps because they aren't pumped like the shitcoins do.
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DaMut
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October 31, 2019, 01:32:10 PM |
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Because the majority project is a scam, many people view cryptocurrency used for speculation only but the truth is not. They are making a statement based on outer shell of cryptocurrency when scammer and fraudulent projects gather. If they dig deeper, they should know not all of them are purposed for speculation and they should know cryptocurrency created to revolution our technology. Crypto has not failed, it has not even matured yet because of the legalization issue.
I think that many projects weren't actually started as a scam, it's more that they were delusional about the impact they can make with the money from an ICO or so. If you don't have experience managing a company and its funds, 10m$ can be very little, but their promises were typically huge. Also, many projects have "lost" a lot of the raised funds due to the bubble burst and weren't able to get additional financing (which, based on their traction, is understandable). No, the majority are. in 2016 until 2017 it was very easy for a scam project to get money because we were in a crazy bull market and everything we have was moving up back then. Yes there were a few projects forced to go scam or close their company because of their incompetence in managing the company but it was only a few of them. Even there was a project using a celebrity to promote their project and spreading fake news about their partnership with Mastercard and Visa. If they were not intended to scam people, why would they spread a lie? it is very easy to scam people because cryptocurrency is not a regulated asset, and many scammers are fine after scamming other people.
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Dart18
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October 31, 2019, 01:35:43 PM |
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No. CMC is like the Biometrics or the attendace checker. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) They just added more information about every coin for people to look into. It is like website where links could be found. More like a reference. You do not have to rely much with them. I use google instead. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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max6575
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Vave.com
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October 31, 2019, 01:37:35 PM |
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developer might works on focusing with uses on customs as moderating returns of tasks with initiation as preparing on expectation as appealing of extensive on running modulation as works might requires with differences on customs as limit on exchange as compilation.
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Pet240
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October 31, 2019, 01:45:32 PM |
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Almost every project that is launched in the cryptosphere hides under he umbrella of block chain technology. Even if there is no correlation between the two, they still find means to justify their claims. Those who are investing should be the ones that will participate with care. Know what you want and go for it.
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AliMan
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October 31, 2019, 01:48:07 PM |
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Are all crypto projects listed on coinmarketcap used for speculation purposes only ?
For the majority, the answer may be yes, but not for all. Essentially though it is, some are not only used for speculation. Suddenly we already can not expect that crypto will be used everywhere. Just remember when it was used in darkweb, now we have places we can use any cryptocurrencies as payment, and after some time we will develop further, and it will not be used only for speculation. Cryptocurrency has its own capacity to grow depending on the demand from people who belongs to it's desired community. How come it was speculated? Coinmarketcap was just a website who handles the monitoring of each and every coin's progress, pertaining to exchanges volume in trading. Furthermore, there's selected countries who have been using crypto as their mode of transactions that's why adoption also increased simultaneously.
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albrots
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October 31, 2019, 04:36:25 PM |
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Most of the many coins that appear today are only for speculation and extorting fresh funds from new investors to enrich themselves. of thousands of new coins, maybe only a few who are serious about developing their projects to benefit the public without speculating first.
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shadowduck
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October 31, 2019, 06:00:53 PM |
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Most of the many coins that appear today are only for speculation and extorting fresh funds from new investors to enrich themselves. of thousands of new coins, maybe only a few who are serious about developing their projects to benefit the public without speculating first.
it’s really true that most projects are not innovative or useful now, but for this, every person has a brain. every project needs to be analyzed, and if everyone will be doing that, the market will become calmer
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Suslived
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October 31, 2019, 06:07:54 PM |
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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.
And like any educated economist would reply, of course not. There are real projects out there that solve real world problem. All you need to do is dig deep through the layer of trash, marketing, and scams to find real projects that have real world impact. Take for example how Ethereum as a decentralised smart contract platform has evolved into a service many institutions now depend on. I'll let you do the research on the rest.
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