Topic: Coins aren't stock...or am I missing something? - page 3. (Read 405 times)
You are missing a lot. I think you need to read up on what coins are actually out there. There are some that have no utility but you are plain wrong in stating that the number is 99%. Most people that are investing in altcoins are hoping that the price will rise. No one is doing it for the dividends. Maybe for the staking, but not the dividends.
Why do people continue to act as if an Altcoin is akin to buying stock in a company? The future of blockchain tech is extremely bright and will in all likelihood revolutionize many different industries. However, 99% of the Altcoins have no utility and will never have a utility. Yet, people hype, and buy some of these coins to the point they have a market cap in the hundreds of millions, if not billions.
It's appears to me that people are treating Altcoins like stock? Despite how promising a blockchain's premise is, the Altcoin associate with that specific blockchain, does not give someone ownership or right to dividends. The Altcoin has no intent on utility and has simply been used to raise funds like an IPO.
For example Ripple, 3rd largest crypto with a market cap of $19b. Ripple is a great idea and a perfect example of how Blockhain can revolutionize an industry. Many big name banks around the world have signed up to use Ripple's blockchain, which has clearly helped propel XRP to such a huge market cap. Except Ripple's blockchain doesn't require the banks to use XRP and they can simply use Fiat currencies. Furthermore, the banks have said they have no interests in using XRP. The fact Ripples blockchain can facilitate fiat currency, pretty much renders XRP useless.https://www.bloomberg.com/news/articles/2018-01-25/ripple-wants-xrp-to-be-bitcoin-for-banks-if-only-the-banks-wanted-it
Owning XRP does not mean you own a piece of Ripple and the huge potential of their blockchain. XRP doesn't to mean you will receive a dividend, but people have bought XRP and pushed is valuation to an astronomical value like it is stock in Ripple. I just don't get it.
I don't mean to pick on XRP, but it's value makes it an easy target. Almost every other Altcoin appears to have an even less promising future then XRP when it comes to their utility.
Perhaps I'm missing something though......
It's appears to me that people are treating Altcoins like stock? Despite how promising a blockchain's premise is, the Altcoin associate with that specific blockchain, does not give someone ownership or right to dividends. The Altcoin has no intent on utility and has simply been used to raise funds like an IPO.
For example Ripple, 3rd largest crypto with a market cap of $19b. Ripple is a great idea and a perfect example of how Blockhain can revolutionize an industry. Many big name banks around the world have signed up to use Ripple's blockchain, which has clearly helped propel XRP to such a huge market cap. Except Ripple's blockchain doesn't require the banks to use XRP and they can simply use Fiat currencies. Furthermore, the banks have said they have no interests in using XRP. The fact Ripples blockchain can facilitate fiat currency, pretty much renders XRP useless.https://www.bloomberg.com/news/articles/2018-01-25/ripple-wants-xrp-to-be-bitcoin-for-banks-if-only-the-banks-wanted-it
Owning XRP does not mean you own a piece of Ripple and the huge potential of their blockchain. XRP doesn't to mean you will receive a dividend, but people have bought XRP and pushed is valuation to an astronomical value like it is stock in Ripple. I just don't get it.
I don't mean to pick on XRP, but it's value makes it an easy target. Almost every other Altcoin appears to have an even less promising future then XRP when it comes to their utility.
Perhaps I'm missing something though......
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