Topic: Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years - page 4. (Read 4170 times)
September 08, 2019, 12:47:59 AM
I think Altar Coins will definitely go to a relaxed level. Those who are investing or doing it here will definitely plan it. The main value of the Altar coin will go up at that time.
September 07, 2019, 11:29:40 PM
if we talk about the next 5 years. I don't think it's 99%, but all crypto including bitcoin. the reason is when bitcoin has reached the total supply, people will think crypto is no longer profitable.
September 07, 2019, 10:09:34 PM
Thats true. Just check end of CMC. Graveyard of dead projects
They might be dead on first look, however, some of them have a community of loyal followers. As it happens, I reckon some of them might have a stronger community than some ICO projects.
September 07, 2019, 06:01:06 PM
Some of the thing he said is practically true but saying about 99% will cease to exist sounds too much for me to believe. Yes, there are many useless coins in this space and taking a good look at the crypto market it is evident more and more going down the drain while those whose developers are hungry for change are coming up in rank. I think in years to come, we will have just few altcoins in addition to BTC, which are truly useful and the crypto space itself will be filled with competition, thus keeping all project team at edge. It's time to focus on only valuable altcoins so as to partake in what the future holds.
September 07, 2019, 05:02:12 PM
For me I won't give them 5 years, most would die in the next Bitcoin bull run, I am predicting we are going to see BTC at more than 80% market dominance. I for one pity some people that have failed to read between the lines more of these VCs now realize the future in bleak for these projects and are pulling their money out at he very earliest time.
September 07, 2019, 04:52:11 PM
Peter Brandt has made an outstanding effort in terms of prediction and trading which was the reason why I somehow comply with his statement but I only 50% of altcoin will be forgotten in 5years because almost 45% of altcoin we have in the market are actually offering the same features, doing copying and editing of what old project have already done.
September 07, 2019, 02:13:38 PM
To some extent, I think Peter is actually Very correct, check coinmarketcap and see the list of coins and tokens we have there, most are shitcoins without any use case. Most of these developers are after their own pocket without any valuable contributions to this crypto space. I personally even think 5 years is a long time, in the next 2-3 years, most of these coins will have fade out
September 07, 2019, 01:10:34 PM
agree with the general sentiment , disagree in details
99% is overly optimistic - shitcoins were are and will be , unfortunately
the thing is that the vast majority of them are either useless or a rip off off an earlier coin
there are maybe 50 altcoins in total that have a fresh and unique idea behind them , the rest have to go
bitcoin is increasing its dominance , yet another sign that no altcoins are offering anything to dethrone bitcoin and there won't appear any that would
99% is overly optimistic - shitcoins were are and will be , unfortunately
the thing is that the vast majority of them are either useless or a rip off off an earlier coin
there are maybe 50 altcoins in total that have a fresh and unique idea behind them , the rest have to go
bitcoin is increasing its dominance , yet another sign that no altcoins are offering anything to dethrone bitcoin and there won't appear any that would
September 07, 2019, 01:01:03 PM
It's a good thing there are people like Brandt who are speaking their minds and shedding light on the current altcoin scenario, rather than being the ones promoting below par projects for a cut. While I agree with most of his words, it comes a shocker that this list includes big names like Ripple which has established itself over the last couple of years.
September 07, 2019, 01:00:51 PM
Peter Brandt as actually gotten this wrong, it is true that some altcoins are shitty and will not even exist anymore before the five years time he's saying, but more it can not be upto 99% of the altcoins. Coins like Ethereum, Dash and Doge will keep existing for a very long time.
The problem in here is, there are a hundred of projects created daily. If we are counting it, approximately around 36.500 projects created yearly. That means he's mathematically not wrong about it because 100 projects can be considered as 1% of our total altcoins right now.
Yup. We might have already forgotten 50% of created altcoins as they are dead already. And it's no wonder in 5 years time with the emergence of new technology and coins, most of the current coins would be obsolete, go out of any exchanges or cease to operate. Some coins would have hype but zero development, people would soon realize about them and as no new investors come in, they'll crash to zero.
September 07, 2019, 12:51:25 PM
Peter Brandt as actually gotten this wrong, it is true that some altcoins are shitty and will not even exist anymore before the five years time he's saying, but more it can not be upto 99% of the altcoins. Coins like Ethereum, Dash and Doge will keep existing for a very long time.
The problem in here is, there are a hundred of projects created daily. If we are counting it, approximately around 36.500 projects created yearly. That means he's mathematically not wrong about it because 100 projects can be considered as 1% of our total altcoins right now.
September 07, 2019, 12:42:33 PM
Peter Brandt as actually gotten this wrong, it is true that some altcoins are shitty and will not even exist anymore before the five years time he's saying, but more it can not be upto 99% of the altcoins. Coins like Ethereum, Dash and Doge will keep existing for a very long time.
September 07, 2019, 10:54:46 AM
I reckon he might be partly correct, however, there are altcoins that are supported by small but loyal communities and excellent developers that refuse to be forgotten.
I am an Aeon bagholder and I have already accepted its fate that it will never be as big as bitcoin or its big brother, Monero. Will I stop supporting it? No and I am not the only holder giving it support as a hobby.
Peter Brandt thinks everything is about making holders rich. He lost the essence of community and opensource development in the cryptospace.
https://www.criptomonedaseico.com/wp-content/uploads/2019/05/Bitcoin-BTC-Is-Reportedly-On-Its-Way-To-A-Parabolic.jpg
The altcoin market continues to bleed out, setting one fresh low after the next. It’s caused the overall crypto market sentiment to reach extreme fear and despair, with many worrying that the altcoins they hold may never again return to their previous all-time high prices.
However, career trader Peter Brandt says that the fate of the altcoin market is much worse than never again setting new highs. The professional trader claims that in five years, 99% of all crypto assets will be a distant memory.
According to Peter Brandt – in response to a tweet suggesting that Litecoin, Ethereum, and Ripple were going to continue to set new lows and that crypto traders should focus on Bitcoin as their main asset of choice as the one with the most “lasting value” – as much as 99% of all crypto assets will be forgotten in five years time.
Investors in Litecoin, Ethereum, and Ripple were particularly defensive, but later Brandt clarified that “LTC and ETH have far more going for them” than the rest of altcoins, which he refers to as a “junk pile.”
However, Brandt may not be wrong about his statement. Earlier this year, crypto analytics firm DataLight shared a visual representation of the top ten cryptocurrencies by market cap and how it has evolved since 2013.
Before even clicking play, the only recognizable cryptocurrency on the list aside from Bitcoin itself is Litecoin. Not even Ripple was released at this point.
The list includes the likes of Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin, and Aphrodite Coin. If you are scratching your head, wondering what these altcoins are, then it may not be unfathomable that the current crypto market top ten might all be forgotten in the matter of another five years, just as Brandt says.
Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/
I am an Aeon bagholder and I have already accepted its fate that it will never be as big as bitcoin or its big brother, Monero. Will I stop supporting it? No and I am not the only holder giving it support as a hobby.
Peter Brandt thinks everything is about making holders rich. He lost the essence of community and opensource development in the cryptospace.
https://www.criptomonedaseico.com/wp-content/uploads/2019/05/Bitcoin-BTC-Is-Reportedly-On-Its-Way-To-A-Parabolic.jpg
The altcoin market continues to bleed out, setting one fresh low after the next. It’s caused the overall crypto market sentiment to reach extreme fear and despair, with many worrying that the altcoins they hold may never again return to their previous all-time high prices.
However, career trader Peter Brandt says that the fate of the altcoin market is much worse than never again setting new highs. The professional trader claims that in five years, 99% of all crypto assets will be a distant memory.
According to Peter Brandt – in response to a tweet suggesting that Litecoin, Ethereum, and Ripple were going to continue to set new lows and that crypto traders should focus on Bitcoin as their main asset of choice as the one with the most “lasting value” – as much as 99% of all crypto assets will be forgotten in five years time.
Investors in Litecoin, Ethereum, and Ripple were particularly defensive, but later Brandt clarified that “LTC and ETH have far more going for them” than the rest of altcoins, which he refers to as a “junk pile.”
However, Brandt may not be wrong about his statement. Earlier this year, crypto analytics firm DataLight shared a visual representation of the top ten cryptocurrencies by market cap and how it has evolved since 2013.
Before even clicking play, the only recognizable cryptocurrency on the list aside from Bitcoin itself is Litecoin. Not even Ripple was released at this point.
The list includes the likes of Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin, and Aphrodite Coin. If you are scratching your head, wondering what these altcoins are, then it may not be unfathomable that the current crypto market top ten might all be forgotten in the matter of another five years, just as Brandt says.
Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/
I don't think that 99% of altcoins will be forgotten. That's nonsense in my opinion to say that. First, people prefer an investment that will give them good return of their money and if there are only few to choose. Second, top ten in the altcoins may not endure the five years but other altcoins will replace them to be in the top ten because people or investors are hungry of new investments to get more returns. Third, there are still many reasons that cryptos and altcoins will hold on until five years and even 10 years more.
September 07, 2019, 05:33:27 AM
Personally I agree with peter ! The same thing that made the previous top coins will happen to the present one and many will be forgotten ! It’s a repeated circle ! We all know that there are so many junks ! Just a few will remain !
September 07, 2019, 05:15:21 AM
I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.
I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.
200 is still too big for me. My range would be anywhere from 25 to 100 (for the five-year span as suggested by you). Because we don't have too many sub-categories among the alts. We have cryptos for various purposes, such as file sharing, smart contracts, complete anonymity.etc. IMO, there may be at the most two dozen categories. IMO, one to four coins from each of these types will survive in the long term.
September 07, 2019, 02:19:56 AM
Thats true. Just check end of CMC. Graveyard of dead projects
September 07, 2019, 02:13:34 AM
Its just weird how crypto space is,coinmarketcap have 2000+ digital currencies listed on its platform but guess what?we have over 5000 coins and tokens in crypto space because some have not make it to coinmarketcap yet and some are still on queue already,what OP is talking about makes sense to me,what will be the use of all these coins and tokens? they can't all be useful for humans on the long run ,i hope people will start doing research on coins and tokens they holding for long term because many projects are not been build to survive for long time
September 07, 2019, 02:02:18 AM
I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.
I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.
Maybe it means that there will not be many altcoins that can last for the long term. If we look at the condition of altcoin on the market, most of the tokens are utility token whose products have not been widely used by people. In addition, many new altcoins are pump and dump tokens
September 07, 2019, 01:18:28 AM
I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.
I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.
September 06, 2019, 12:18:22 PM
I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.
I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.
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