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RE: Blockchain Technology Potential (Series 1) – A Review of a Recent PAYPAL CryptoCurrency Patent Filing and What It Means for the Future of the Technology
I have a question. I believe in blockchain, I also believe in the potential of cryptocurrency. But I'm really confused why there has to be a new coin for everything?
Everyone likes to compare this to investing in the internet back in the 90s. But there's only one internet, yes originally there were three or four people trying develop something similar, but not an internet for everything. Why is there a coin for everything? Will there always be a gadzillion coins? Or will there come a time that one coin will rule them all?
To me it seems that all these coins are a scam and that's what scares so many investors away. Thoughts? Ideas? Opinions?
There does not have to be a coin for everything. Over 80% of today's coins are likely to fail. Even some of the current top coin might not be around in a few years. Many coins are not viable based on their formulation and technology, and many are not viable based on the team executing the plan. But a few diamonds are likely to emerge from this period based on the merit behind the technology itself.