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Author Topic: Is crypto as a financial investment doomed?  (Read 2191 times)
David Latapie
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January 18, 2015, 03:55:49 PM
 #1

I am really concerned with the future of crypto now. Even more than when I wrote cryptofiat (which itself becomes more plausible) or my analysis of Gartner on crypto).
The future of any crypto (except maybe Monero because of its target audience and NXT because of its considerable advance in building an ecosystem and even that, not sure).

Reason: http://www.coindesk.com/ibm-reveals-proof-concept-blockchain-powered-internet-things/

Overstock does not use XCP but clone it. IBM doesn't use XBT or ETH but clone them. That's the power of open-source.

Winners: implementors. Loser: crypto owners
This has nothing to do with bear market or bull market.

Solution: focus on your expertise on cryptos and sell it to employers and customers. Do consulting. Don't rely on your stash. It is probably doomed, whichever coin you have. Remember the dotcom bubble. Use your expertise to work on crypto once the present bubble has stopped deflating.

Financial investment may be doomed, but the expertise investment is only beginning.

Opinions?

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January 18, 2015, 06:34:10 PM
 #2

There's no need for more than one cryptocurrency, and Bitcoin won that race.

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January 18, 2015, 10:13:22 PM
 #3

I am really concerned with the future of crypto now. Even more than when I wrote cryptofiat (which itself becomes more plausible) or my analysis of Gartner on crypto).
The future of any crypto (except maybe Monero because of its target audience and NXT because of its considerable advance in building an ecosystem and even that, not sure).

Reason: http://www.coindesk.com/ibm-reveals-proof-concept-blockchain-powered-internet-things/

Overstock does not use XCP but clone it. IBM doesn't use XBT or ETH but clone them. That's the power of open-source.

Winners: implementors. Loser: crypto owners
This has nothing to do with bear market or bull market.

Solution: focus on your expertise on cryptos and sell it to employers and customers. Do consulting. Don't rely on your stash. It is probably doomed, whichever coin you have. Remember the dotcom bubble. Use your expertise to work on crypto once the present bubble has stopped deflating.

Financial investment may be doomed, but the expertise investment is only beginning.

Opinions?

I HATE the idea of multiple crypto currencies. Makes no sense to me. People do invest their time in it for short term benefits, in the long run alternate cryptos are dud.

However some alt-cryptos are proving to be the 'next' step in evolution of crypto currency instead of being a mere copy of Bitcoin, and recognizing and investing in such projects are always a good idea but full of risks.

And far as investing in a currency is concerned, I answered a similar question here : https://bitcointalk.org/index.php?topic=923906.0

Its a lengthy response so only read if you got time.

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David Latapie
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January 20, 2015, 01:48:48 AM
 #4

And far as investing in a currency is concerned, I answered a similar question here : https://bitcointalk.org/index.php?topic=923906.0

Its a lengthy response so only read if you got time.
tl;dr?

Monero: the first crytocurrency to bring bank secrecy and net neutrality to the blockchain.HyperStake: pushing the limits of staking.
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January 20, 2015, 02:04:24 AM
 #5

I am really concerned with the future of crypto now. Even more than when I wrote cryptofiat (which itself becomes more plausible) or my analysis of Gartner on crypto).
The future of any crypto (except maybe Monero because of its target audience and NXT because of its considerable advance in building an ecosystem and even that, not sure).

Reason: http://www.coindesk.com/ibm-reveals-proof-concept-blockchain-powered-internet-things/

Overstock does not use XCP but clone it. IBM doesn't use XBT or ETH but clone them. That's the power of open-source.

Winners: implementors. Loser: crypto owners
This has nothing to do with bear market or bull market.

Solution: focus on your expertise on cryptos and sell it to employers and customers. Do consulting. Don't rely on your stash. It is probably doomed, whichever coin you have. Remember the dotcom bubble. Use your expertise to work on crypto once the present bubble has stopped deflating.

Financial investment may be doomed, but the expertise investment is only beginning.

Opinions?

I agree with your sentiments
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January 20, 2015, 05:41:06 AM
 #6

And far as investing in a currency is concerned, I answered a similar question here : https://bitcointalk.org/index.php?topic=923906.0

Its a lengthy response so only read if you got time.
tl;dr?

If one doesnt have the time to read, one should get involved in investing money.

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January 20, 2015, 06:25:18 AM
 #7

You think big companies will release it as an open source free technology?
I think the answer to that also answers your main question.

I really couldn't care less about this super revolutionary bitcoin replacement that will change the world forever and advance civilization 20 years if it's controlled by one party.

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January 20, 2015, 01:55:54 PM
 #8

Wait you are telling us, crypto as a whole is failing and that includes bitcoin but on the other hand, tells us to create a completely new crypto to own one. So which one is right?

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January 20, 2015, 02:08:00 PM
 #9

I can't think of a better long-long term investment. What other technology has the foundations to disrupt as much as the blockchain? get real.
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January 20, 2015, 02:37:01 PM
 #10

Is crypto as a financial investment doomed?

I hope so. I want to use Bitcoin as a currency.

An economy based on endless growth is unsustainable.
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January 20, 2015, 02:41:44 PM
 #11

There are some promising crypto projects out there! Some cryptos will come out and be successful. No one knows for sure and some may be doomed to fail. So the crypto world is full of risk.

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January 20, 2015, 02:50:12 PM
 #12

i share your view that cryptocurrencies will be cloned and our current stash may be worthless.
i could imagine that some countries starts issueing their currency as a cryptocurrency (as soon as we/they have figured out a good way to do offchain / offline transactions).

but i think there always will be one global cryptocurrency for things like swift or (generally) money transfers between countries. mining rigs are just cheaper than to carry guarded gold around the world.

i dont think this will be bitcoin though. as a german i heard the complaints about americans reading our swift transfers: i am sure only an anonymous and fungible (which i thinks goes hand-in-hand) currency will win.

i hope for monero... but who knows Wink

EDIT: i forgot paypal... thats another reason why a global cryptocurrency must exist. FUCK THEM!

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January 20, 2015, 02:57:52 PM
 #13

We need to make a difference between cryptocurrencies and investments. A few people are commodities traders, but most investors don't see currencies as investments. Neither do I. BTC would only get better if people using it as an investment were giving it up.

If you're looking for a trading/lending place,
better avoid Poloniex, as it socializes losses.
Learn more about it on this topic.
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January 20, 2015, 03:05:30 PM
 #14

but most investors don't see currencies as investments

That's a contradiction right there.

An economy based on endless growth is unsustainable.
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January 20, 2015, 06:09:05 PM
 #15

We need to make a difference between cryptocurrencies and investments. A few people are commodities traders, but most investors don't see currencies as investments. Neither do I. BTC would only get better if people using it as an investment were giving it up.


Put money in expecting to put more money out than you put in = investment.
So yeah, everything can be a investment, it doesn't need to be Forex or whatnot.
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January 21, 2015, 01:37:24 PM
 #16

And far as investing in a currency is concerned, I answered a similar question here : https://bitcointalk.org/index.php?topic=923906.0

Its a lengthy response so only read if you got time.
tl;dr?

If one doesnt have the time to read, one should get involved in investing moneyf
If one doesn't have the time to write an executive summary of one's post, one should not consider widespread distribution oh one's ideas in a highly-competitive information market

Wait you are telling us, crypto as a whole is failing and that includes bitcoin but on the other hand, tells us to create a completely new crypto to own one. So which one is right?
Not crypto as a whole. The hoarding aspect of crypto.
Gold rush is over. It is time to build California.
Said otherwise: the accumulation time as a whole is over. The future belongs to ecosystems and services. Not owning gold, but making something out of it. When an economy moves from "accumulation phase" to "service phase", this is actually a good news for the economy. It means it is leaving infancy.

That's what I meant by "as a financial investment". But as an economy investment, this is the opportunity of a lifetime.

As an investment both of those coins at this point are worthless, (I like Monero and have friends holding some for me) But its unusable in everyday usage right now and thus useless and only speculative.  If you want to make XMR have any value you need to concentrate building it so others can use it like Bitcoin.
I agree wholeheartedly. That's why we are focusing on developing these tools that are needed so much - Bitcoin had 5 years to make it, we only got one year.

(by the way, if the CLI Monero wallet is too complex for you, you can use mymonero web wallet - everything is done locally, the wallet never have your private keys)

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January 21, 2015, 04:05:09 PM
 #17

if you explain how to clone network effects: yes i think it is doomed.

before that I think we are sitting on one of the most interesting disrupting technology one can imagine.

the only question is if bitcoin can hold its omnipotential state; networking much stronger than any other cryptocurrency out there and therefore not giving any place for altcoins

at this point of time my answer is yes with some reservations (this changed from a strong yes) - there is this wonderful post of Peter R in the altcoin observer, which lead me to this conclusion.

regarding cloning or diluting, value of cryptocurrencies is derived by network effects, not technological advancement. I wish a central institution good luck with creating private money or a cryptocurrency, when it is known that a decentralized consensus can basically do the same and is existent.

afaik your information regarding counterparty/ medici are at best misleading. they will run medici on top of counterparty.

keep up the good work on xmr, if there is place for a second big currency it will be this one Wink.

we are simply in a bear market where everything is put in question.
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January 21, 2015, 04:12:17 PM
 #18

We need to make a difference between cryptocurrencies and investments. A few people are commodities traders, but most investors don't see currencies as investments. Neither do I. BTC would only get better if people using it as an investment were giving it up.


Put money in expecting to put more money out than you put in = investment.
So yeah, everything can be a investment, it doesn't need to be Forex or whatnot.

My point is that many more people invests in stocks rather than currencies.

If you're looking for a trading/lending place,
better avoid Poloniex, as it socializes losses.
Learn more about it on this topic.
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January 21, 2015, 04:25:32 PM
 #19

There's no need for more than one cryptocurrency, and Bitcoin won that race.

The other crypto currencies have shown us that bitcoin could be worthless like the ________(100s, 1000s, Huh?) of alt coins.   
I don't believe that it will be worthless, but it has no reason to be worth anything if something else came along that did the same thing, but had a better infrastructure, which is the only reason btc is better than any other crypto by a landslide.

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January 21, 2015, 04:29:44 PM
 #20

The other crypto currencies have shown us that bitcoin could be worthless like the ________(100s, 1000s, Huh?) of alt coins.

I don't understand why you say this.

Bitcoin was the invention. There was nothing like it before 2009.

Altcoins, on the other hand, are using Bitcoin as a base. So, how is Bitcoin as worthless as all altcoins? If it weren't for Bitcoin, they wouldn't even exist.

An economy based on endless growth is unsustainable.
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