Cryptonization Fail ?

[mosprognoz]

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.

Could you please give us a list of that institutions ?

[1714905492]

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[o48o]

Most of these ico projects were not even needed, they were solutions to problems that don't exist. Or even if they were some good ideas, people didn't have a plan to pull them off. Blockchain is not a magic bullet that somehow makes everything better, with some projects normal database just does the job faster and blockchain is not needed. I am pretty convinced that huge amount of these icos were gluing useless tokens on top of their project just because it was the only way for them to get the funding and they had to give something back. And there were times when crypto investors would have funded anything in the hopes of quick 2x flip returns.

[Perfect35]

There are certain ideas that cannot be executed on blockchain. Which is why their capability of being adopted as real projects, with working products might not be that easy. This is why some projects with no real and correlating usecase, will continue to sway to and fro, with so much dwindling.

[leowonderful]

Yep, a ton of coins just used the word 'blockchain' as a buzzword to make people invest in whatever token they had, while many of them really didn't benefit much from using the blockchain in the first place or even operated less efficiently compared to centralized solutions in many cases. Unfortunately, that's still the case for some newer coins and it's likely that will be the case for a long time, but generalizing all projects on CMC as only for speculation is also inappropriate, though the majority of projects are. Most of these unoriginal projects end up fizzling out early and never take off, while some projects that end up genuinely solving a problem or creating a new service do take off.

[Wysi]

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.

Yes the main agenda of starting up a project is to help people in their daily life like altcoins have provided so many wonderful projects in the past like lightening speed money transfer, chat applications, real estate platform, etc you name it we have a project with those domain in order to simplify our live but in last one year the market have been ruined due to entry of bunch of scammers who used it for their own benefits wherein some of them ran away with investor's money while some of them dumped their own project. Now the investors and community are well aware of all these things and only genuine projects will survive which is a good thing for us.

[Aabcde]

Yes indeed, a lot of coins or tokens whose function is unclear. Their number exceeds the coins that have useful ideas, real use cases. Another story when we say speculation. Because basically speculation someone came because of further development of the coin, yes we can call fundamental information. Where this can provide benefits for someone, especially traders. So basically we can distinguish speculation and real use case itself. Speculation is used by traders based on the development of the coin technology. While the main function or use of a coin is to send money without intermediaries, fast and cheap, such as XLM, LTC and many others.

[swivel1983@gmail.com]

Basically it is. Everyone uses cryptocurrency for speculation, because so far few people trust it. For other purposes, it is used only by a few. Therefore, our task is to present crypto to people in the best light, and not just as a speculative tool.

[blckhawk]

For me though, it's just that we're still not in the era ready for conversion to blockchain technology, or it's because the projects aim to convert something not needing conversion just as what you've said, and that's the main reason why we feel all of these are just speculative to invest in. Altcoin market is now too crowded, we just need a company that would initiate a revolutionary idea running on cryptography and blockchain, an idea that could run in a decentralized system, the power to the people, and would replace existing traditional system, which we can't predict when will happen, but surely will.

[Pearls Before Swine]

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

No. Not all, at least not from start. Just too many.

Far too many in my opinion, but I do agree that at least the top 50 to 75 aren't scams or doomed to failure.  Everything below that is questionable.

Op, you are absolutely correct about these ico projects trying to impose blockchain tech onto areas where it isn't suitable, and I've seen some crazy ideas since I've been watching.  It's ridiculous to me that these projects keep trying to do what amounts to the same thing over and over...and they keep getting investors! 

The coins I mentioned on coinmarketcap might survive, but tokens are another story.  I would venture that the overwhelming majority are going to be worth zero, and it won't even take years for this to happen like it will with some of the worst altcoins.  It might take no more than months after launching for most of these crap tokens.  It's a fitting fate, too.

[dimonstration]

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.

We're in the time that those solved problems thru fiat are applied in blockchain that does not need by many so it did not get attention to new investors it's just like copying a existing project in a way it will be included in an exchange which is the only difference. Before around year 2017 projects atleast have a glimpse of uses, somehow you'll be amazed on teams how they come up to that idea but now after many project appears it's make no sense to support since there's no difference and progress.

[CjMapope]

haha good question man, the short answer is... yes, yes they are  
everyone wanted to get in on this blockchain craze, and thats cool, but really most projects dont even NEED it, its just a hype thing
there was a study that showed all a company had to do was add "blockchain" to their name and its stock would rise 200-400%, so one can imagine the effect of that

[NathanJB]

It may be sad to accept it but it did fail, but for a single round only. It did not kill the cryptonization or tokenization project. It failed not because the world's cryptonization or tokenization project is bad in itself but because it is not yet the perfect time. The world might not be ready for it yet. But it does not mean that this initiative will stop and will be forgotten. It just had to make the steps smaller and the processes gradual. Little by little, this world will still be tokenized.

[ecnalubma]

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

This is the real challenge, crypto projects should not depend on speculations rather they must show to the community their purpose and fulfill their promises. They must prove that all criticism's are wrong by showing their product, I think its about time to show off the results because it seems that most investors are not happy with the shape of ICO industry right now which is full of negativity and uncertainty.

[perfect999]

You are right, virtually all projects that are on coinmarketcap are for speculation purpose only, but exception of the top coins, if you look at the top 10 coins like bitcoin, ripple, Ethereum, people are really making use of these products for transaction purpose on a daily basis, so they have other real working product that is helping other than just speculation alone, and that is why I keep advising many people that, they should focus more on investing and developing these project that have real working product, because all the other coin that  are used for speculation are just there for making money alone. I don’t blame them anyway, people are even more interested in the money they can get out of cryptocurrency market other than the technology of the project itself.

[hatshepsut93]

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

Worse, they are used for pump-and-dump schemes. You can see ICO tokens from 1-2 years ago still being traded on exchanges and having some price action, despite clear lack of results and development progress. All they do is employ bots and shills to create some buzz on social media, and some fake news and announcements, all in order to lure noobs to buy their tokens again. So, no only ICO's scam the initial investors, they all scam everyone who trades their tokens on exchanges later.

[Bananington]

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.

Honestly this is the same question that keeps ringing in my head "whether crypto projects are mainly for speculation purpose" . Everyone is concerned about price movement and not about the development progress most times. Well, bitcoin is exempted, most altcoins do not really serve any purpose other than speculations. I'm looking forward to seeing a day when most of these altcoins will actually be adopted or applied in the sectors they claim to be relevant in.

[biddicoin]

crypto is on early development stage, if there are many failed projects i think it's normal

there are many projects created just for stealing money from investor, that's why many project alive in cryptocurrency. but it doesnt mean that crypto is failed

the good news is there are many serious project in cryptocurrency which can make good development. i think those good one which can make crypto well-known in this world

[desticy]

The fact is that cryptocurrency has two sides, one technological and the other economic.

The technological side is projects and their direct benefit to the world, their direct use, their direct implementation.
In this environment, constantly something happens, the project is developing, their blockchains continue their work and development.

But there is another side to the economy, associated exclusively with coins and money.
This side is purely speculative and nothing can be done about it so far, due to the fact that cryptocurrencies have high volatility, which means they are subject to speculation.

[Immakillya]

This is a long way to go. This will take a lot of patience to happen. Tokenization of everything seems helpful but it needs to be studied before it implements. This is my honest opinion. I don't really don't see that people are valuing the uses of these tokens. They don't care at all. They only see cryptocurrency as a form of investment. That's why people immediately selling right after exchange listing because they've gained enough.

[fumblingperch]

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.