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Topic: Most cryptocurrencies to hit zero? (Read 210 times)

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February 14, 2018, 01:02:08 PM
#25

I think we're in a slightly different type of market, the one that's maturing but also expanding by getting more and more people on-board every day. In traditional markets, the brokerage firms could easily stop offering their customers a specific type of commodity. So can crypto exchanges with coins nowadays, but most of them rarely do so. Look at Bitconnect, the damn thing was knocked down a while ago, but still has some of its market cap and even more surprising, a trading volume. So they will hardly anytime soon go to zero, but probably a lot of them will very soon have marginal significance on the market evaluation.

Bitconnect should be viewed as an example of the level of ignorance still in the cryptocurrency market and a sign of how far we are from a functioning and professional market. The very fact that people cannot or will not take the time to investigate if a coin they're investing in even has anything behind it is the reason that they will ultimately go broke and leave the crypto market. Eventually when we lose all of these such investors we will be left with mostly rational and knowledgeable investors and then currencies such as bitconnect and others with no use can go to the 0 or next to 0 value that they deserve to have.
jr. member
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February 13, 2018, 03:07:15 PM
#24
People calling this FUD and saying it will never happen don't understand the first thing about markets. Have you already forgotten the dot-com bubble?

Pets.com raised $82 million with their IPO, impressive by any standards. They were worth nothing within 9 months.

Webvan stock doubled in a single day back in 1999, earning a peak valuation of $6 billion. Went to zero in 3 years. I bet most you have never even heard of it before.

eToys.com stock went from $20 to $76 in a single day when it went public in 1999! 280% in a day! Impressive even by crypto standards. Zero within 2 years.

For every Amazon or eBay, there are hundreds, if not thousands, of similar examples to the ones above. A large number of coins have already gone to zero or are going that way. More coins will follow suit as time goes on, and that is what is supposed to happen. Shit coins, scam coins, productless coins, ICOs aimed only at making money for the creators, coins that don't need blockchain technology but are just trying to cash in - all of these will, and absolutely should, fall to zero.



I think we're in a slightly different type of market, the one that's maturing but also expanding by getting more and more people on-board every day. In traditional markets, the brokerage firms could easily stop offering their customers a specific type of commodity. So can crypto exchanges with coins nowadays, but most of them rarely do so. Look at Bitconnect, the damn thing was knocked down a while ago, but still has some of its market cap and even more surprising, a trading volume. So they will hardly anytime soon go to zero, but probably a lot of them will very soon have marginal significance on the market evaluation.
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February 13, 2018, 02:52:33 PM
#23
People calling this FUD and saying it will never happen don't understand the first thing about markets. Have you already forgotten the dot-com bubble?

Pets.com raised $82 million with their IPO, impressive by any standards. They were worth nothing within 9 months.

Webvan stock doubled in a single day back in 1999, earning a peak valuation of $6 billion. Went to zero in 3 years. I bet most you have never even heard of it before.

eToys.com stock went from $20 to $76 in a single day when it went public in 1999! 280% in a day! Impressive even by crypto standards. Zero within 2 years.

For every Amazon or eBay, there are hundreds, if not thousands, of similar examples to the ones above. A large number of coins have already gone to zero or are going that way. More coins will follow suit as time goes on, and that is what is supposed to happen. Shit coins, scam coins, productless coins, ICOs aimed only at making money for the creators, coins that don't need blockchain technology but are just trying to cash in - all of these will, and absolutely should, fall to zero.



The idea that everything can and should succeed is really quite flawed. Competition and choice is good but only to an extent, ultimately we will end up with only a few of each 'idea' in cryptocurrency succeeding and if the rest do not succeed then there is no reason for them to have a value above zero.
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February 12, 2018, 02:03:06 PM
#22

There are coins worth to hit the bottom and disappear. The market is overwhelmed by such coins and we do not pay attention to truly promising coins. So the market will grow much faster. This is my opinion.
legendary
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February 12, 2018, 01:23:07 PM
#21
People calling this FUD and saying it will never happen don't understand the first thing about markets. Have you already forgotten the dot-com bubble?

Pets.com raised $82 million with their IPO, impressive by any standards. They were worth nothing within 9 months.

Webvan stock doubled in a single day back in 1999, earning a peak valuation of $6 billion. Went to zero in 3 years. I bet most you have never even heard of it before.

eToys.com stock went from $20 to $76 in a single day when it went public in 1999! 280% in a day! Impressive even by crypto standards. Zero within 2 years.

For every Amazon or eBay, there are hundreds, if not thousands, of similar examples to the ones above. A large number of coins have already gone to zero or are going that way. More coins will follow suit as time goes on, and that is what is supposed to happen. Shit coins, scam coins, productless coins, ICOs aimed only at making money for the creators, coins that don't need blockchain technology but are just trying to cash in - all of these will, and absolutely should, fall to zero.

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February 12, 2018, 11:39:48 AM
#19
We already have tons of shitcoins which are dead, mean zero. Don't we?

I don't think Goldman Sachs have spread any fud, instead, they have spoken out the truth.
New competitors will come day by day with unique ideas and the weakest ideas/coins will be dead, whereas the strong existing coins will survive.

The time of writing this post, Yobit has 6598 coins listed alone and coinmarketcap shows only 1526. This probably means that cmc has listed only the possible best ones.
Those who are in cryptospace for a long time they can confirm how many coins are dead in Yobit so far, including the scams one.
jr. member
Activity: 126
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February 12, 2018, 11:32:04 AM
#18
FUD, that is all it is.

You wont have to worry about it.
If it is from an investment company like Goldman and JPMorgan then it might be because they are seeing a lot of loss in their investors.
People changing their way of how to invest and maybe their annual reports are now getting lower than it was last year.
What can they do?
Yes, scatter a news which is fake but people will believe because they are known. We really have to be careful now with what we read. Think again before making any decision. Is it true or not? Are they just doing this for their own selfish reasons?

I do tend to agree most cryptocurrency projects will in the end be worth 0. It is the same in the sharemarket, most projects get acquired or die. However the cryptocurrencies that are successful will be extremely dominant in the future economy and deliver amazon + results, but like investing in amazon in the VC stage
legendary
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February 12, 2018, 11:29:54 AM
#17
FUD, that is all it is.

You wont have to worry about it.
If it is from an investment company like Goldman and JPMorgan then it might be because they are seeing a lot of loss in their investors.
People changing their way of how to invest and maybe their annual reports are now getting lower than it was last year.
What can they do?
Yes, scatter a news which is fake but people will believe because they are known. We really have to be careful now with what we read. Think again before making any decision. Is it true or not? Are they just doing this for their own selfish reasons?
full member
Activity: 345
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February 12, 2018, 11:25:51 AM
#16

I don't see cryptocurrencies hitting zeros nowadays. They are getting popularised and patronised by cryptocurrencies' users, making them wany to creat an alternative coin for their own. That scenario could be possible if the given cryptocurrency is still i n compitable in the market or even its economy.
member
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February 12, 2018, 11:24:30 AM
#15

there are also news that BTC and other CC will reach new record price this year (BTC 50,000). Everyone has his own perception about BTC and other CC...
jr. member
Activity: 945
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February 12, 2018, 11:20:58 AM
#13
this is not true man, news like this will always make bitcoin and altcoin droping value,and just dont listen about that news
member
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February 12, 2018, 11:19:28 AM
#12
It is partially true.  Not most but many currencies may hit to zero.  My personal experience; after my admission to bitcoin family for around last two months; I am rewarded with about 10 currencies; only one of which is showing some value in dollars; others showing no balance.  May be it is because I being new could not choose  good airdrops or unluckily I got such airdrops which are showing zero balance.  Let us hope that good crypto currencies will overcome out from the current bearish trend. Grin
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February 12, 2018, 11:14:39 AM
#11
Today there are over 1500 cryptos, and new ones come along every day.  I dont believe that 1/10th have long term future, too many are either scams, zombies, jokes, replication or just badly run.  One day te market will realise this and most will indeed fall to nothing.  There *needs* to be a clear out to let the real useful project flourish, allow people to focus on, rather than effort and funds spread so widely.
Now a days most of the crypto currencies are created for the purpose of earning money so we can't expect all those coins to stay in the market forever .To be honest most of the cryptos lose their valuse even after the ICO sale so he is right most of the crypto will het zero in the future.BUt the currencies which hase real potential will stay in the hunt and will replace the fiat system soon.
And most of the people are investing on ICO to make money in short term and they never think them to hold it in long terms that's why the price is falling even if the project is very good when their coin is listed on exchanges.
So we guys no need to worry about those coins will hit zero soon,and we have to only invest on the potential coin if you don't want to worry in future.
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February 12, 2018, 11:07:03 AM
#10
Today there are over 1500 cryptos, and new ones come along every day.  I dont believe that 1/10th have long term future, too many are either scams, zombies, jokes, replication or just badly run.  One day te market will realise this and most will indeed fall to nothing.  There *needs* to be a clear out to let the real useful project flourish, allow people to focus on, rather than effort and funds spread so widely.
legendary
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February 12, 2018, 10:38:39 AM
#9
Goldman Sachs nowadays has only a good name but when giving advice to their customers through daily reports regarding foreign exchange and commodities they are making their customers to lose money because they are giving bad advice. This bank is known for its stance against bitcoin and other cryptos so this statement from this bank means nothing to me and many other bitcoin users. They can do all is in their power to try and to spread FUD against bitcoin and other cryptos but in the end they will not succeed.
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February 12, 2018, 10:33:35 AM
#8
More FUD spreading on internet it is nt true

It is in fact common sense and not FUD. Most will hit zero or as good as zero, once there is no demand for them the price will bottom out. Do not be foolish and anticipate that all cryptos will be a success. Some will, some will not and those that are not a success well head towards zero.
legendary
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February 12, 2018, 10:31:08 AM
#7
They're stating the obvious:
Quote
“Because of the lack of intrinsic value, the currencies that don’t survive will most likely trade to zero.”

In general, I wouldn't give much credibility to Goldman Sachs. Don't forget they had to pay $5bn for their misconduct in the financial crisis.
Banks like that are among the reasons I like Bitcoin. I have no doubt they have an agenda trying to kill the competition, but Bitcoin works fine with or without them.
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February 12, 2018, 08:36:57 AM
#6
Some of the coins already reached to 1 or 2 cents like Car Taxi and hoping they can go further low since the developers are not working properly and just seeing their roadmap to achieve everything.
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