I agree that this is one of the winner take it all markets, but i think the title makes it seem more dire than it is. Wonder other than BTC, ETH which are the players that will survive
ETH will surely survive in some capacity since nearly all “tokenized” assets are built on top of ETH.
However, I don’t think the picture is nearly as rosy for bitcoin. Hopefully this market event (yes, not a correction) will cull some of the less informed to actually learn something, more so that crypto is incredibly risky.
This seems likely for Bitcoin and its derivatives (LiteCoin and any other platforms that don’t plan to move away from Proof of Work or have no real utility).
However, I don’t see any long term risk with ETH or Monero. Hopefully this teaches clueless investors how much hype and not accounting for exposure can hurt...
It was a great ride while it lasted. And financial historians and those who lived through internet bubble 1.0 and 2.0 knew how to play it. Pays to have some grey hair
Just want to let everyone know that dogpile.com is still a thing and you can still "fetch" to your hearts content. They're poised to make a comeback any day now.
Right now Coinmarketcap lists 1500+ cryptocurrencies. This article says many of them will fail in the future, as many have in the past. This is not revelatory.
I would have been interested in Strongin's opinion on which coins will survive, and why; or a timeline of when "most" will have failed.
Dogecoin has a better inflation control mechanism than USD or CHF, so although it's far from being the best cryptocurrency, I believe even it has a longer life expectancy than USD (of course this is not true for all cryptocurrencies, most of them are not interesting at all)
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[ 3.0 ms ] story [ 33.4 ms ] threadHowever, I don’t think the picture is nearly as rosy for bitcoin. Hopefully this market event (yes, not a correction) will cull some of the less informed to actually learn something, more so that crypto is incredibly risky.
However, I don’t see any long term risk with ETH or Monero. Hopefully this teaches clueless investors how much hype and not accounting for exposure can hurt...
1) There are what? over a thousand different coins at the moment (i.e. "most" will probably go to zero).
2) I didn't see a timescale mentioned.
I would have been interested in Strongin's opinion on which coins will survive, and why; or a timeline of when "most" will have failed.