The billion $ question! :-)
Your post put in few words the many critics I have from the current crypto-space. People are in for daily/weekly returns and not supporting the building of a secured environment. The growth of the technology should be at the centre of each "bid", showing our belief that the service proposed by the coin will grow and solve limitations that we see nowadays. Hold for innovation! Move away greed! :-)
The coins I am believing in are: BTC, LTC, ETH, XMR and ZCASH. They are the old guys of the market and carry the basic features that have made the crypto world famous or infamous for the past few years.
They have strong communities (devs, supporters, miners) and have proven to deliver improvements and new ideas on a regular basis. They are probably not delivering as fast as any other centralised endeavour, but they embrace the idea that the enterprise should not depend on few and that the greater good is reached by consensus.
I have touched to ICO in early 2017 like many. For sure by greed and I remember well my speech back in the days. Most of these ICO did well across the year (NEO, OMG, 0X) and haven't shown much signs of weaknesses. That's why everyone believe they are great investments and more ideas are being crowdfunded that way.
I would only advise to be careful. These ICO are very short term investment for the public. This is the tech bubble that everyone is saying Bitcoin is. I don't know if it will burst in 2018 or 2019, but I am sure money is not safe in this space.
If you're looking to invest in ICO, please do in decentralised project. At least, it will benefit the community and show innovation remains a motivation!
A lot of good points. Although I agree with you about the innovation should outweigh the greed, I also think that a lot of people get drawn in on the hype of making money and while involved start to learn it is more than that which makes the community stronger. Thanks for the input!
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I agree with you and think you hit the nail on the head. It is difficult to not be greedy and think about the quick profit. I think the media as always is miss guiding people and giving them the intention of it being a new sort of investment. I think the only investment maybe for the decentralized coins. It gives you full control of you assets instead of a 3rd party. I feel as though that is what crypto is about. The blockchain technology is the golden nugget that most people do not understand.
Which touches back on your subject of it being an tech bubble and I agree. There are not many uses for a lot of these coins and most will never be traded daily for commodities. Not saying anything bad about any of the coins, I just do not think people do their due diligence and have an misconception about their utility. I am a complete newbie and only know what I have educated myself on, but the speculation behind these coins are phenomenal. We are living in a crazy time, it is very interesting to see a change come to fiat for this first time in about 200 years.
I think that Steemit and the tech behind it will revolutionize social media though. There will be many changes to come in many different fields. Like I said, blockchain is the golden nugget.
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Yes!
Fon’t rush things. We will keep having plenty of opporunities to grow our wealth, especially on robust technologies. Better donit slow and steady than rushing into it and learning through harsh mistakes.
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Exactly. People should do their due diligence first and fore most.
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