Topic: Cryptocurency: What Is The End Game? (Read 1410 times)

The coins end when there's no supply and demand, only that. For me, coins just like currency but the different thing is another coin will replace the other. Currency, usually never change name but only change value. That's why I never saving my coin for a long time, after getting profit I'll exchange become currency. I always do that because currency is more saver than coins. That's my opinion & have a nice day.

@ dinofelis
True. Where in the real world can a person go to exchange their RubyCoin, PutinCoin, SuperCoin, TittieCoin and all the rest of them? What is the point of them would be the next question but you listed them so aptly in your post


@ NaXxow
Point taken, in majority of cases it seems all about profit or ego (or both), there is nothing or very with regards to emotional attachment from the developers. There are exceptions to the rule, of course.

No one knows the end game, what really matters is, every ICOs or any ups and downs with crypto creates opportunity to some people. More projects means more opportunity to grow and make profit, no emotional attached. For me, I will just enjoy the waves until the end of time.

There is no fundamental difference between bitcoin and alt coins.  They are all of similar principles, and they have all similar behaviour.  The sole difference is that bitcoin was first, and has a huge first mover advantage, which is slowly eroding away, but will not be gone for a while.

The fundamental nature of all of these tokens is this:
1) huge initial seigniorage (if you are amongst the first adopters, including being its dev, you get coins for much, much less value than potentially later)
2) artificial scarcity supposed to induce value increase
3) power games in order to decide about coin creation (and eventual seigniorage), consensus decisions, fees, and most importantly, the power to change the rules of the game later on (devs/miners/whales...)
4) megalomania stories that go with it, like "being the money of the world" / "being the legal system of the world" / "bringing perfect anonymity to payments" / "being the world's decentralized storage" / "being the world's social medium" / "being the world's super computer" .... to create some hype.

As such, they are designed to be speculative assets in a big zero sum greater fool game, where initial seigniorage of coins can be converted into value received from the latest layer of greater fools, inducing "get rich quickly" schemes, hence attracting loads of "greater fools" hoping to get in early enough to not be the last layer of fools paying for the joke.   They are ideal speculative assets for financial institutions, once these will have the legal possibility to play the games too, who will most probably be the professionals reaping in a lot of money from the amateur gamblers (like they do on the stock market, but with much more leverage and much less rules).  Bitcoin is no exception, it even started the game, but the existence of many tokens instead of one makes the game much more interesting for gamblers.

Of course, next to their main function which is "being a speculative asset", some coins DO have some minor real world usage, like bitcoin, that is somewhat used to buy stuff, ethereum that is somewhat used to make gambling applications, and things like monero that can hide payments, but this usage has neglible effect on the market.

The end game will most probably be a spectacular failure, but it is not clear whether this will simply be a crash, or whether this will be a world-wide financial crisis provoked by financial institutions having gambled too much on crypto, like they gambled too much on complex derivatives.

Quote: If you can't explain it simple you can't really understand it

Not sure if I understand it fully and I'm sorry if I'm saying something wrong (I'm a newbie please correct me) but I'll try to give you my point of view based on others opinions mixed with my own.

My guess is that unless a new superior technology to blockchain shows up, this is here to stay. I'll tell you why:

• You can call them coins, or tokens, that you can trade in a free open market. Between other tokens, or fiat currencies (dollar, euro, etc).
• They have value because they are limited supply and no-one can add more (before this was not possible to be transparent in any type of currency, even gold).

Ex: Let's say you have FIFA coins (from the EA game). If they (FIFA) create their own blockchain of "Fifacoin", limit their supply, and make them available in the exchanges... That's it. It will rise and fall depending on the people wanting them or not.

• I'm not sure that the old model of buying stocks will not change as well. If every stock is transformed into blockchain coins, it would be more transparent, easy to use, unregulated (free from politics and governments putting their hand).
• It's also a new and best way for crowdfunding
• I don't think you can be as anonymous with blockchain as you would with paper dollars. That's a minus. But it can also indicate why people will have tens of coins in their portfolio, and different wallets, in different phones perhaps. And with this diversification I think there is nothing left for fiat

P.S.: I do think is important to maintain some kind of paper currency and I never hear people defending that. You should defend that, as much as you love this technology
 

I have a similar mindset to yours. I am not a fan of ICOs.

Keeping that in mind (ahem), in my opinion there has to be something exceptional on offer for me to consider investing in an ICO as there can be exceptions to the rule. All project managers claim to have something "unique" or claim their coin has a "USP" but when you look at the detail it seems they are more or less doppelgangers of each other.

Exactly what input developers and project manager may put in pre and post ICO depends on them as they will have significant options. On one hand the changce to exchange over inflated priced coins for bitcoins and cut and run, or stay and try to develop the project. The temptation for many a few years ago that had fancy logos and catchphrases was the former. There have been several successes with the latter but I am not highly sceptical of ICOs.

if you want my opinion, i say ICOs are all bad, and there is no reason for anyone to even want to invest in them. but not that many people share my view and some even say the developers deserve the money they get for the "development" they are doing!

there is also another view that i also share which is saying if these developers believe in their project and think it is good, then they should invest in it themselves. it can be mining it or even buying it. and then improving the project means a bigger profit for them. and that is a big difference in my opinion.
someone who got paid during ICO to do something in the future.
or someone who is invested and making any money will depend on him doing some actual work.

I am looking in to cryptocurrencies after a several year break. I hoped things had changed but like you I am also tired of the number of announcements of coins being launched.

ETH and ETC are scams! Not invest in any smart contracts 👍

As long as the technology era continues, there is no end for cryptocurrencies. The examples you mentioned are interesting to see how coins could fall apart, but it won't be true to generalize it for bitcoin or ethereum.

Ultimately, only altcoins with good innovation will survive. I'm kind of tired seing ANN thread of altcoins, there are too many altcoins out there, every week there's always new altcoin borns, i don't know what their real purpose of creating this project well i don't mind if that for development of cryptocurrency technology but if it's for making money? I dont think that i would give my money to them. On the other hand there are some altcoins which has proven it's worth, not only for speculation but also can be used as an good alternative besides the bitcoin.

In my opinion People are still rooting for Altcoins  because altcoins seems to follow the same pattern. First they experience an exponential boom as new users buy-in and a miniature speculative bubble is created. Then the inexorable crash follows, the movement of Altcoins are very unpredictable and always fluctuating just like it's predecessor bitcoin, I think they have a world base value and just like bitcoin they can surely profit with Altcoin as well that is why there are people mining and earning for some altcoins

I agree with this 100 percent.  The end game is only further advancement of blockchain technology.  Once fiat currencies are done away, that would be the end game for me.  But we are experiencing an era of unprecedented growth and expansion.  People who never even heard of Ethereum are Googling it.  Researching it.  I think that we are on the precipice here.  And that within my lifetime, the banking system will disappear as we know it.  At least, that's my hope.

The cool thing, is the smart contract and DaPPS coins will grow along with ones like Bitcoin.  Coins like Ethereum, Stratis, Expanse, etc . . . these are TECHNOLOGIES.  Technologies that just happen to be traded as well.  That's what I am most excited about.  To see what the future holds for these coins and many others, and ones that have yet to be created yet.

Yes, I am not foreseeing any possibilities from crypto people to understand the facts of why they need a special coin just for one reason. Many devs are coming into different accounts and writing here about their fake success stories just to lure innocent people to get them into altoin trading/ investing into ICOs.

But there were a serious discussions about do we need altcoins or not and the consensus was similar to we need altcoins. Probably they are working as market movers like attracting new people into crypto world for some reasons.

It is decentralized system, people come with their projects for their own intentions and conscious people protecting themselves and amature people learn that after few experiences.

@ Red-Apple
Very well said. I agree with all you said especially the fact that ICO and pre-mining is not a fair, logical distribution is essential. Can you believe one of the yet to be released coins has raised $4m in an ICO? I am not knocking them at all, I wish them and all associated success but the evolution of altcoins is also evolving new ways of people to generate more and more money from cryptocurrencies when most have little no value in the first place.


@ zend7
I also think that Bitcoin will be around for a long time to come. I think it will hold very high value as time goes by and I agree that all these coins have no real value on their own and only seem good for exchanging in to Bitcoin. I mean, where exactly in the real world and cyber world can you go and spend 0.01 bitcoin? Many places right? Where can anyone go to spend 50Million Paccoin, 50Million PinkDog, 50Million NeoCoin and alike?

End game is always the same for altcoins, after some time they get dumped and disappear many of them. Only a few selected few like Ethereum,Monero ,Zcash and Dash are performing well, yet I believe this coins are not worth my time, except mining them and converting to bitcoin, that is the only thing they are good for. I think these coins too will meet their end after a bit.
There is no end game for bitcoin I firmly believe and hope so all my focus is on bitcoin only. I see altcoins only as a mean to arrive to bitcoin and increase my holdings in bitcoin. I don't really care if they die all at once. I am a bitcoin hardcore fanatic.

anybody who understands bitcoin knows that it is not perfect and there is a lot of room for improvement. but most of the times we just see random features and generally altcoins that are trying too hard instead.

the end game will be some new altcoin that takes lesson from the most successful cryptocurrency: bitcoin.
- be decentralized and aims for it in all its aspect, be it the mining, nodes,...
- no pre mine, no ICO, no weird initial distribution of some amount of cupply. a normal and logical distribution.
- a coin with a logical maximum supply. nothing like a couple of billion, 90 million or 42 coins !!!
- try to be a currency for once. not just something that is listed on poloniex and pumped and dumped till the end of time.
- work more on a more user friendly wallet.

@ IIOII and airsounds
I also have invested in XRP some years ago and have currently made over x10 the amount I paid for them if I sell now. I think Ripple is a potential gold mine. If it fails and my XRP lose value then I can live with it because the invested amount was not massive though I received many tens of thousands of XRP


@Harpua
Quite possible they are trying to innovate and test theories that Bitcoin is not willing to try but it seems the majority are simple launching them to add a feather to their cap along with making money themselves rather than achieve what Bitcoin started, which was real innovation


@YuginKadoya
I see you point but if they have no real FIAT real world based value then what is their point? How many BTC have been traded on coins outside the top 20, top 50 or top 100 listed on coinmarketcap? I see they have little or no point yet people keep churning them out


@Rinder
The pump and dump quick gains is probably one of the biggest factors when people release their own coins but for them to have any real value they have to exchange their pumped and dumpled coind with Bitcoin or several of the most traded ones. These have some value as they are continuously traded upon where as the newbies really have not much going on now or the futre. With that said, I see one end game for the majority of coins listed on coinmarketcap... failure.

Alternative Coins or Altcoins there are many out there that are currently struggling but there are simply a more competitive ways in trading them with bitcoin, The vast majority of altcoins listed on market data platforms are experiencing an increase in price due to the overwhelming performance of top cryptocurrencies such as bitcoin. so when bitcoin maintains stability, most of them become volatile and fluctuate wildly. and Altcoins are divided by hashing algorithms, and that is Altcoins that are using SHA-256, the same hashing algorithm as Bitcoin, Altcoins using scrypt algorithm, and Alt coins using other, innovative hashing algorithms such as X11, X13, X15, or NIST5, and I think the end game here is none! Cryptocurrency would continue and so is your earning towards it, and well there are Altcoins that have come and go.

Though it is definitely not a scam. The fact that people actually it might inflate over the long time doesn't mean that it can't be beneficial. Also just look at ethereum, it also doesn't have a cap to which it can be mined, but no one is calling it a scam, then why would we think that ripple is a scam? To be honest I'm putting money into ripple because I believe it will grow