Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years - page 5.

didzi

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Quote from: robelneo on September 06, 2019, 12:28:28 PM

That's probably going to happen after seeing Bitcoin dominance going bigger and bigger, these coins cannot keep up with the adoption that is going on right now, investors always have a change of mind and they are quick to trade coins that they think will have no value in the long term, everything is long term.

maybe this will be happend, but in my predictions not 99% alts will be forgotten mate
just 80% will gone and have no value in the next five years

Vishnu.Reang

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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.

robelneo

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That's probably going to happen after seeing Bitcoin dominance going bigger and bigger, these coins cannot keep up with the adoption that is going on right now, investors always have a change of mind and they are quick to trade coins that they think will have no value in the long term, everything is long term.

tsaroz

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Exactly true. There are more than ten thousand coins tradeable at the moment. 1% of it makes up 100. And even I would not be able to name 100 different coins. With the rate of new coins not decreasing, people will forget most of it and the most of new ones in a decade time.
Only a few of this decade would effectively survive till the next one.

digitalblock

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I think this is just another piece of information. If altcoins disappear from the market then the crypto community will lose a huge number of participants. Since many of them continue to believe in the idea of altcoins. I can't let XRP or LTC disappear. On the basis of these coins built many banking standards.

Mpamaegbu

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Once a man, twice a child!

Quote from: Khaos77 on September 04, 2019, 12:56:00 AM

FYI:
ZEIT will be the Last Coin Standing. Wink

That's an unsolicited plug for Zeit. But then I checked your signature and volla! You're wearing the ZEIT logo. So, I ain't surprised really. However, looking at the Peter Brandt picture and seeing his face reinforced my belief not to trust old people when it comes to cryptocurrency. They actually know next to nothing. Did he say 99%? Gosh!

bbc.reporter

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Quote from: Red-Apple on September 05, 2019, 05:44:30 AM

Quote from: bbc.reporter on September 04, 2019, 11:47:22 PM

@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

have you ever checked some of the projects?
go on github and just go through the source code of different altcoins, even the most popular ones among the top 10. you will see that 90% of them have "copied" bitcoin exactly and have created their own coin. some have the decency that directly forking the project and giving credit to the original but most try to hide it!

The most popular of those cryptocoins which is litecoin. No development, copied from bitcoin, however, supported by a large community, supported by some opensource developers and has held top 10 longer than most altcoins.

There are smaller coins similar to Aeon that might appear forgotten, however, it has a loyal community of contributors and hobbyists that might let it live longer than Peter Brandt's 5 years. I would consider this a success.

aioc

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Quote from: bbc.reporter on September 04, 2019, 12:34:55 AM

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.[/i]

Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/

Those coins mention are already gone because developers cannot keep up and coins that cannot keep up will be gone for good but this is not new to all of us, every day we have seen coins come and go and some of them are already forgotten after launched not more than a year, the competition is very stiff that they have a hard to keep up with the pace.

eternalgloom

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Quote from: key4co.in on September 05, 2019, 02:17:10 PM

There is some sense in what Peter is postulating but I think 99% stated there is an exaggeration. Some few projects are doing really well and in 5 years time, if there are no general severe setbacks in crypto, they will still exist. I was expecting to see projects like EOS, XRP, XLM and a few others as exception but the reverse is the case.

Of course it's an exaggeration, I'm 100% sure that articles like these are written to get as many clicks as possible.
Everything is just a hyperbole statement these days.

Heck there will be quite a few projects from the CMC top 100 that will probable make it.

kravas86

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The main altcoins can't disappear. Because all the main altcoins are supported by institutional investors and this situation is absolutely unprofitable for these investors. The company Ripple develops software many banks on the basis of their own cryptocurrency. Ethereum plans to open a new blockchain platform. I doubt that such smart people can make mistakes in their activities. They certainly know better than we do in this industry.

key4co.in

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There is some sense in what Peter is postulating but I think 99% stated there is an exaggeration. Some few projects are doing really well and in 5 years time, if there are no general severe setbacks in crypto, they will still exist. I was expecting to see projects like EOS, XRP, XLM and a few others as exception but the reverse is the case.

SquallLeonhart

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There is nothing but truth in everything that is being said by him, most altcoins might eventually fade out every soon, and I think this bull run for altcoins that we have been expecting may not come. Right now, seems older and newer investors are even paying attention to new projects than the old ones because they believe that some of these old ones have expired and they have nothing new to offer.

The moment an altcoin has reached an ath and has been dumped, it will take grace for them to be revived again. I still don’t even see the usefulness of some of those altcoins, the only thing we use crypto for right now is to have it as an asset and also to use it for payment which bitcoin has already covered those areas.

jthor

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Quote from: Red-Apple on September 05, 2019, 05:44:30 AM

Quote from: bbc.reporter on September 04, 2019, 11:47:22 PM

@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

have you ever checked some of the projects?
go on github and just go through the source code of different altcoins, even the most popular ones among the top 10. you will see that 90% of them have "copied" bitcoin exactly and have created their own coin. some have the decency that directly forking the project and giving credit to the original but most try to hide it!

For the month, the most important thing in Altcoins is that they continue to increase their liquidity in the cryptocurrency market.

Red-Apple

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Quote from: bbc.reporter on September 04, 2019, 11:47:22 PM

@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

have you ever checked some of the projects?
go on github and just go through the source code of different altcoins, even the most popular ones among the top 10. you will see that 90% of them have "copied" bitcoin exactly and have created their own coin. some have the decency that directly forking the project and giving credit to the original but most try to hide it!

akirasendo17

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That is not true when you say 99% that only like small amount, if ripple for example
satoshi and a lot more are already being use maybe like 70% more likely or even low
there are lots of projects that already in mass adaptation for crypto and they are jumping
and creating their own so maybe its not like that maybe 20% thats for sure because if 1 company
will create their own crypto what other crypto lost will be replace by new one imagine having
every company has their own crosschain with each other thats a huge number

Crypt0BHunter

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Of course, it's more like true. I've some insight when reading this post that the profit from altcoins in BTC will be decreasing avalanche-like.

rosezionjohn

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There are currently over 2,000 altcoins listed on CMC and let's just say there are 1,000 (or less) more that are still unlisted. For example the total doubles or even triples in five years, then that's around 90 surviving altcoins. I think his 99% estimate is too high.

Quote

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.”

In short, XRP is one of the many altcoins he refers to as a "junk pile" Nice! Cheesy

Ozero

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We all know that there are now more than two thousand altcoins. They appear massively and massively disappear, and this is absolutely normal, since everyone is allowed to the process of their creation, and of course, a significant part of them are useless. However, despite this, their number will still be large, because their application is very multifaceted. This is especially true for tokens. Therefore, there will still be many different tokens.

BITDV

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I agree with term that most altcoin will be be gone. And all of them are coin without development and business strategy. Coin/token should have a business to develop, solve problem using blockchain technology and not coin/token to earn money from peoples. I believe that coin/token that hat real use case such as ripple, ethereum, steem can survive for long time.

bbc.reporter

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@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

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