Cryptonization Fail ? | Bitcointalksearch.org

TheGreatPython

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Quote from: puertorikosena on November 03, 2019, 12:16:39 PM

My personal opinion is that most altcoins that are currently traded on exchanges are not needed at all and they will disappear over time. All these projects are completely meaningless and do not cost anything.

This is why I chose to stay with the top exchange because I really see that we have meaningless projects in the market and if you are not careful to be disciplined and stay with very well recognized projects alone, you may end up falling into some of these scam projects.

If we had regulations, I am sure that the 2000+ tokens that we have in the market would not have been possible because the regulators will really filter all the tokens and make sure that they exempt all the projects that looks like it’s a duplicate and also ensure that all the project team and developers are really verified before they can get to announce their project to the public or try to get money from the public just like they do in IPO which we may really find IPO projects free of scam.

Tylev

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I do not agree with your opinion. The kryptonization of our life is just beginning. Cryptocurrency is a completely new type of financial settlements. Of course, while there are a lot of difficulties and abuses. For the three years of the existence of ICO projects, it is still not worthwhile to negatively evaluate all these projects. Many of them are still successfully developing. So far, the dominance of tokens is negatively affected by the price dominance of bitcoin, which prevents them from developing normally in terms of price. To evaluate the tokens that have arisen in the course of the ICO, we need a lot more time.

tambok

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In terms of coinmarketcap (CMC) we are aware that not everything listed there is legit, they are claiming that they are only checking those project who has a real volume and listed in 2-3 different exchanges, but we don't know what is happening behind the back as there's a lot of new projects that has only 1 exchange and very low volume but is listed there, there's a lot of shitcoins there too.

For ICO, we may say, yes it is a failed and not a good way to raised fund as it has been the instant way for scammers to have instant money, so this failed, as there's a lot of people who invested without proper research.

Overall, I don't think that Cryptonization failed, yes, there's a lot of projects failed, but that doesn't mean the crypto is failed, as those projects has no real use case and no development at all.

coinfinger

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Well, that's how we have seen it. A lot of projects that are being released these days are just so that they can use it in making money and after that , the project cease to function. There are some projects you will see on the market today and they will have a really good purpose, but at the end, those running the project will still abandon it to fail. Some of these projects are being run by people that have no experience/skills, they just saw that it's what is trending and they decide to jump on it.

It's the same thing with the real world, there are lots of good projects but it's not all of them are successful at the end. Some end up not being successful at the end, so that's the same thing you're seeing in the cryptocurrency space.

setialovers

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Quote from: danggoron on November 03, 2019, 06:34:48 PM

Of course not, this is one strategy to attract the interest of the community so they want to use it. The more people know about it the better it is to form market capacity. This is very beneficial for the long term. The wider adoption, both bitcoin and blockchain will increasingly make people aware of its functionality and effectiveness.

I agree that crypto should be able to attract the attention of investors. But if there has not been a clear adoption, I think for a long time investor confidence will fade and could result in falling prices. Adoption is one of the important factors for crypto to survive

danggoron

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Of course not, this is one strategy to attract the interest of the community so they want to use it. The more people know about it the better it is to form market capacity. This is very beneficial for the long term. The wider adoption, both bitcoin and blockchain will increasingly make people aware of its functionality and effectiveness.

tsaroz

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DGbet.fun - Crypto Sportsbook

Crypto is an overachiever. In short amount of time crypto currency has risen to Central attention of the world. Recently China announced they would boost up their R&D on blockchain to counter US dominance in the field. So, it's a win for crypto.
Regarding the coins in CMC, they too are of different kinds, some are purely speculative while some are also pegged to the net profit of a company and many other ways to maintain the price.

Kiefner

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If altcoin is used only for speculative purposes, it does not mean that it cant be used for something else. After all, everything depends on the people themselves. If you promote the spread of cryptocurrency, it will be used by other people. And not just for speculation.

Brunus

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Many projects are certainly only speculative, and other real scams.
However, if you analyze carefully you can find excellent projects with a good chance of success.
And it is a pity that even valid projects are penalized by general distrust.

mickey_miner

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Quote from: mosprognoz on October 29, 2019, 08:52:03 PM

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

A very small number of people use cryptocurrency for its intended purpose, most people use it only for speculation. So far, this market is not regulated in any way and it is used to make money.

BitHodler

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Quote from: Nolimitz84 on November 03, 2019, 02:02:53 PM

We just have to come to terms with the fact that speculations and speculators have been and are!

People don't seem to know what it exactly is that they want.... on one side they want to see this space actually picks up in use, but on the other side also want to see it go up and down the way it has done throughout the years.

It's not possible to have both.... use will only pick up when prices are stable, otherwise what's the point? Speculation will only continue when the prices pump and dump hard, otherwise what's the point of speculation?

I personally am fine with speculation considering the fact that in most cases we don't really need crypto.... it's volatile, not user-friendly, only attracts adoption when prices go up, and so on. Crypto is too hyped up in its current form.

Wysi

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Quote from: xiboothrezi on November 03, 2019, 02:38:03 PM

Blockchain and cryptocurrency are still new. There are still many who try and seek profits through this hysteria. Some are serious, some are careless, and some are trying to cheat. It all depends on the development team, whether they really read the opportunity, the needs of the community, and find the right ecosystem niche to be developed, the mission of cryptonization will be successful.

There are many fields that have been touched by the blockchain, and many of them have had success, although we must realize that this cannot be used massively yet, well ... this industry is still quite controversial, slow but sure.

Yes we cannot just blame the whole crypto industry for failure of unrealistic projects without a proper planning as there are currently 3053 crypto coins listen in coinmarketcap it does not mean every project will be successful and most of the countries are trying to adopt blockchain but skeptical about crypto due to it's decentralized nature which will require some more time as crypto industry is yet to be streamlined. We need to support it atleast for the fact that it has provided us so many facility which the centralized institutions lack.

xiboothrezi

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Blockchain and cryptocurrency are still new. There are still many who try and seek profits through this hysteria. Some are serious, some are careless, and some are trying to cheat. It all depends on the development team, whether they really read the opportunity, the needs of the community, and find the right ecosystem niche to be developed, the mission of cryptonization will be successful.

There are many fields that have been touched by the blockchain, and many of them have had success, although we must realize that this cannot be used massively yet, well ... this industry is still quite controversial, slow but sure.

Findingnemo

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Bitcoin = Financial freedom

Crypto currencies are not failed,to be honest it reached great heights since it was created and the time take for this is reallty nothing compared to previous technology adoption but yes its not used a crypto currencies and mostly used for its speculative nature but this at least makes the crypto market move further and also companies like starbucks said they are going to accept as payment so in the next decade we have more places to spend our cryptos other than exchanges.

Hope for the best,enjoy the benefits.

Nolimitz84

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Quote from: fumblingperch on November 02, 2019, 06:04:54 PM

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.

The thing is that many powerful and promising projects will live. And speculators as they were before and now they have not gone anywhere. We just have to come to terms with the fact that speculations and speculators have been and are!

Pr0st0Pr0be1

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Let's not lie to ourselves. Today, cryptocurrency is an exclusively speculative tool. Few people are concerned budeschim project as all pursue the goal to quickly cash in. Projects have ceased to produce a quality product and are needed only for what would be profitable to trade on the stock exchange or deceive crazy investors. We have ceased to evolve.

Pinkris128

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Quote from: mosprognoz on October 29, 2019, 08:52:03 PM

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.

The cryptonization of many establishments like hotels and casinos are the beginning of the age of crypto. There are a lot of cryptos because each of them aims to target a certain nature of business. Though it is also true that many of them look like the same of the older ones. Many did not succeed because of this. The main challenge of many cryptocurrencies is to be relevant to the society so people will support the use of it.

stephanirain

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Quote from: mosprognoz on October 29, 2019, 08:52:03 PM

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.

Cryptonization is not only about making everything in every industry use cryptocurrencies but to integrate the communtiy to blockchain technology. It is not only about the money, the system itself of the industry can be "updated" using blockchain just like to the nature of new online gambling sites. Decentralization of some specific systems can help increase efficiency. Anonymity of the users can be used for canned transactions that do not require any liability from the law of the country.

puertorikosena

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My personal opinion is that most altcoins that are currently traded on exchanges are not needed at all and they will disappear over time. All these projects are completely meaningless and do not cost anything.

Febo

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Quote from: mosprognoz on October 29, 2019, 08:52:03 PM

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

Most coins and tokens that are listed on coinmarketcap have little in common. You cant compare them since are made differently and for different purpose. Only thing to speculate is their price. Coins and tokens are there to be used. Well not all but some. Those that cant be used or will not be used have no purpose and are useless and worth zero. The rest have some value and that value is speculative.

Topic: Cryptonization Fail ? (Read 644 times)