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RE: Why I Think Cryptocurrencies Are Here To Stay & Will Increase In Value!
Given the the current situation, that's a tough call for any newbie out there, Personally i think some cryptocurrencies will be wiped out. Some don't have that much usability.
I think you are correct. Many in the crypto space will fail to inovate and will fall away. Winners will be chosen by the market. I see one or two currencies and one or two dApp platforms taking the lead. Once there is a proper dApp ecosystem there will be many dApp successes as well.
True there are a lot of new small cryptocurrencies that are going to struggle, Many of them came up but the tougher the market, the incapable ones are going to be weeded out.
100% I think there'll be a lot of coins which go down to zero - if people think a little pullback is a bloodbath, there's much more to come. There's no way they can all succeed. But new coins will come too - and I think Bitcoin will be replaced as the most valuable when Wall St fully engages. It's not a given that all new money will flow into, or through Bitcoin.
Bitcoin still has a chance for a few more years of success. It still has the name recognition of being one of the biggest and most important cryptocurrencies, and it's still the primary currency of the crypto market; Most coins can't be bought with fiat, but nearly every coin can be bought with Bitcoin.
Bitcoin is NOT a good coin by any means. It's volatile, it's slow, and it doesn't serve any purpose outside of being a currency and a means of exchange. Implementation of the lightning network could drastically improve its performance and make it much more useful for the foreseeable future.
That being said, better technologies have emerged, and Bitcoin is way behind in terms of tech and utility. Once more currencies can be purchased using fiat and Bitcoin ceases to be the primary gateway coin for entrance into the crypto market, I expect that it will gradually fade away, probably with Ethereum taking its place as the primary cryptocurrency in the short-term (2018-2019), and some other yet-to-be-created technology taking over the market in the longer term.
Botcoin is dead, long live Bitcoin. Think that says it all ;)
Well said..Ofcourse we are so optimistic but that will certainly happen.
The market is still really early in adoption I think the coins will stay here for some time but I'm more than sure 90% will drop in the future as new ICOs spread like wildfire.
There are intersting times to come and I would really want to have a talk with my past self 1 year from now.