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Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says

20 points by rayuela 9y ago

newyankee 9y ago
I agree that this is one of the winner take it all markets, but i think the title makes it seem more dire than it is. Wonder other than BTC, ETH which are the players that will survive
- arcaster 9y ago
  ETH will surely survive in some capacity since nearly all “tokenized” assets are built on top of ETH. However, I don’t think the picture is nearly as rosy for bitcoin. Hopefully this market event (yes, not a correction) will cull some of the less informed to actually learn something, more so that crypto is incredibly risky.
arcaster 9y ago
This seems likely for Bitcoin and its derivatives (LiteCoin and any other platforms that don’t plan to move away from Proof of Work or have no real utility). However, I don’t see any long term risk with ETH or Monero. Hopefully this teaches clueless investors how much hype and not accounting for exposure can hurt...
throwaway76025 9y ago
Propaganda like this is often useful as a short term contrarian trading signal. This isn’t new news but is inauspiciously timed.
vfulco 9y ago
It was a great ride while it lasted. And financial historians and those who lived through internet bubble 1.0 and 2.0 knew how to play it. Pays to have some grey hair
mythrwy 9y ago
No doubt they are right considering: 1) There are what? over a thousand different coins at the moment (i.e. "most" will probably go to zero). 2) I didn't see a timescale mentioned.
thebigspacefuck 9y ago
Just want to let everyone know that dogpile.com is still a thing and you can still "fetch" to your hearts content. They're poised to make a comeback any day now.
- aje403 9y ago
  Now partnered with Dogecoin. Here we go, Web3.0. Invest now! To the moon!
bfuller 9y ago
All currencies hit zero eventually
SippinLean 9y ago
Right now Coinmarketcap lists 1500+ cryptocurrencies. This article says many of them will fail in the future, as many have in the past. This is not revelatory. I would have been interested in Strongin's opinion on which coins will survive, and why; or a timeline of when "most" will have failed.
xiphias 9y ago
Dogecoin has a better inflation control mechanism than USD or CHF, so although it's far from being the best cryptocurrency, I believe even it has a longer life expectancy than USD (of course this is not true for all cryptocurrencies, most of them are not interesting at all)

20 points by rayuela 9y ago

I agree that this is one of the winner take it all markets, but i think the title makes it seem more dire than it is. Wonder other than BTC, ETH which are the players that will survive

arcaster 9y ago
ETH will surely survive in some capacity since nearly all “tokenized” assets are built on top of ETH. However, I don’t think the picture is nearly as rosy for bitcoin. Hopefully this market event (yes, not a correction) will cull some of the less informed to actually learn something, more so that crypto is incredibly risky.

arcaster 9y ago

This seems likely for Bitcoin and its derivatives (LiteCoin and any other platforms that don’t plan to move away from Proof of Work or have no real utility). However, I don’t see any long term risk with ETH or Monero. Hopefully this teaches clueless investors how much hype and not accounting for exposure can hurt...

throwaway76025 9y ago

Propaganda like this is often useful as a short term contrarian trading signal. This isn’t new news but is inauspiciously timed.

vfulco 9y ago

It was a great ride while it lasted. And financial historians and those who lived through internet bubble 1.0 and 2.0 knew how to play it. Pays to have some grey hair

mythrwy 9y ago

No doubt they are right considering: 1) There are what? over a thousand different coins at the moment (i.e. "most" will probably go to zero). 2) I didn't see a timescale mentioned.

thebigspacefuck 9y ago

Just want to let everyone know that dogpile.com is still a thing and you can still "fetch" to your hearts content. They're poised to make a comeback any day now.

aje403 9y ago
Now partnered with Dogecoin. Here we go, Web3.0. Invest now! To the moon!

bfuller 9y ago

All currencies hit zero eventually

SippinLean 9y ago

Right now Coinmarketcap lists 1500+ cryptocurrencies. This article says many of them will fail in the future, as many have in the past. This is not revelatory. I would have been interested in Strongin's opinion on which coins will survive, and why; or a timeline of when "most" will have failed.

xiphias 9y ago

Dogecoin has a better inflation control mechanism than USD or CHF, so although it's far from being the best cryptocurrency, I believe even it has a longer life expectancy than USD (of course this is not true for all cryptocurrencies, most of them are not interesting at all)