12-07-2021, 03:12 PM
(This post was last modified: 12-07-2021, 03:12 PM by crimsonghost747.)
(11-29-2021, 01:56 PM)Kerim Wrote: I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days.
This is exactly what I was about to say.
Crypto is here to stay. It took a massive leap backwards when the price of bitcoin spiked. Long story short: skyrocketing bitcoin prices = skyrocketing transaction costs (when looking at things from the point of view of fiat currencies) since those transaction costs are also paid with bitcoin. A transaction fee of say 0.001 bitcoin was the cheapest thing on the planet when bitcoin was $1. Not so much anymore with bitcoin in the tens of thousands.
But the technology is evolving rapidly, and I have no doubt that in 10-30 years crypto will be a daily thing. Maybe not the main currency we use, but used a lot anyway. Facebook actually tried to go this way a few years ago and introduce their own crypto which would be the default payment method for anything inside facebook.
Most of the shitcoins will obviously disappear since they have no real use, and will never have one. They are speculative investments at best, scams at worst. The real deal will be those coins that will have a functioning ecosystem where that coin is the main currency.