Topic: Cryptonization Fail ? - page 4. (Read 627 times)

No. Not all, at least not from start. Just too many.
There are obviously a lot of projects with no substance, only to get money. This has become a problem and I see no good solution for it.
But there are also projects that wanted to get some money to start up: some got the money, some didn't, some used the money well, but most didn't. Some had success, some didn't. Some still have success, some are dead or dying.


Actually even the "honest" coins, with no ICO, IEO or whatever have also become subject of speculation, just because it's possible.
But isn't this something that also happens on stock markets and Forex?!

For the majority, the answer may be yes, but not for all. Essentially though it is, some are not only used for speculation. Suddenly we already can not expect that crypto will be used everywhere. Just remember when it was used in darkweb, now we have places we can use any cryptocurrencies as payment, and after some time we will develop further, and it will not be used only for speculation.

To answer the question, not all crypto projects listed on coinmarketcap use for speculation purposes only because there are still good and promising projects created especially those belong on Top 10 and even most altcoins are only made to make profit which happened to ERC20 tokens cases. Data on CMC are just only a guide/reference that compile all informations about a token/coin.

Many projects were created in order to help people, to make some area more successful and convenient to use. However, there are many projects with the goal of earning and nothing more. Cryptonization has just begun, let's see what happens next.

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.