Topic: Cryptonization Fail ? (Read 572 times)

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.

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.

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

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

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, 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.

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.

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.

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