I'm hearing rumors this coin would be the last straw for cryptocoins in the event of failure of bitcoin which becomes more likely every day. What does the community think about this statement?
And why is it still so relatively cheap if that was true?
It's more expensive than Bitcoin was, when Bitcoin was the same age. All it takes is time, survival, more users, reward halving; and at this point everything is right on track. Altcoins are beginning to die faster than they're being made, so once the herd thins out for another year or two, there will be only a few quality coins still running. When Unobtanium is 4 years old, people will be more likely to choose it over a new unproven clone coin, and people will stop making so many bad coins because nobody will be interested anymore. When there are only a few coins left, each coin will get a greater percentage of all crypto market capitalization.
Of course, people will still make new altcoins, and some of them will still catch on. Years from now, we will roll our eyes when our teenagers buy a new coin sponsored by billionaire pop singer Honey Boo Boo. We will tell them how we've seen it all, premine is a scam, but they'll say Unobtanium is for rich old farts who don't understand the younger generation. We'll try to teach them the value of a hard-earned Doge, but they'll have to learn the hard way. And maybe they'll make some money staking their Honey Boolberry and prove us wrong.