3 ms·
in terms of metal we have gold, silver, platinum. In cryptocurrencies we have 1000. If cryptocurrencies persist over this current hype, then its still open whic
by beberlei 9y ago
in terms of metal we have gold, silver, platinum. In cryptocurrencies we have 1000. If cryptocurrencies persist over this current hype, then its still open which of the +1000 ones will be the "gold" and which ones will go to 0.
- saosebastiao 9y agoThe analogy between an ICO and a stock is pretty apt: they're both tradable contracts. One is enforced via math (as well as luck/naivety), while one is enforced via governments and financial institutions. And a huge portion of those 1000+ cryptocurrencies are really just ICO tokens. I think crypto is in a huge bubble, and I think ICOs are dumb and will eventually die off or be killed off, but saying that there are 1000+ cryptocurrencies is pretty misleading. It would be like saying that due to the various stock exchanges we have millions of fiat currencies. It's only true given a particular definition of cryptocurrency. Outside of ICOs, there are probably only a couple dozen cryptocurrencies that are not piggybacking off of some other cryptocurrency's smart contract infrastructure.
- beberlei 9y agoEven if its much lower, because there is the potential for a new entrant that has better "features" so that demand for the previous coins drops, there will always be risk in holding specific coins. Think disagreement between miners, changes to algorithms, forks of blockchains. Gold does not have the same risk. One nitpick: I think the SEC ruled ICOs to be comparable to certificates from what I understood. This is quite different to stocks. I could be wrong.