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RE: The number of Hedge Funds entering the Crypto Space is exploding
hopefully this is the start of institutional money flooding into this space. It will serve to lift prices but also put pressure on developers to deliver and actually design crypto with real life use cases. Too many coins are purely designed for speculation and have no real purpose! This may help to clean things up a bit!
I totally agree with you. Though I am quite idealistic about cryptos and what they should be used for, I think there needs to be a real-life application for them as well. I really like Ripple (XRP) because it has a clearly defined vision. It wants to replace the SWIFT system used by banks with a cheaper and faster alternative. They also want to add alternative I think this is a product with a great future because it is actually supported by government institutions and large banks such as Rabobank, Santandar Bank and even the Federal Reserve stated it may be a useful tool for the banking industry.
However, I also want to see government power diminished and therefore also support and buy EOS which wants to decentralize everything. More power to the people. However, I do not see banks going away in the future, however, I hope that will adopt more market friendly alternatives once cryptos gain a foothold. If centralized governments lose the ability to interfere with banking then banks do not need to follow their rules and regulation and are free to design user-friendly products. However, I can also see that there is more centralization in XRP than in Bitcoin at the moment. It will be interesting to see how things pan out, however, I believe that XRP will become more decentralized in the future. Nevertheless, I can see some limitations on their wallets (requiring a tax ID etc.). Really not a big fan of that.
So true. So many crap coins do nothing. We need an altcoin that works with a video sharing platform. Whoever does that will be rich and destory youtube.