Crytpo investments, let’s take an honest look

First off I could write some sorta crypto puff piece in the hopes of getting a lot of tips and upvotes by reinforcing your beliefs and patting you on the back, this isn’t that kinda article. I don’t care honestly if you like it or not. I decided to put this on steemit more out of a curiosity than anything and I will use any funds to buy some Alt coin lotto tickets. Ok so you are saying who TF is this guy, what does he know. I was involved in Bitcoin back in 2011-12, the funny thing to me today is a lot of the “traders” that have huge followings today and people look to for advice were the big Pump n Dumpers of years past. They would all buy up the supply of some alt coin that nobody was buying then form these like trading “clicks” and would post some bs fake insider info about the coin they bought up and then when all of their followers started buying what little coins were left of the exchanges the price would shoot up, these guys would look like geniuses and then they would dump all of their coins on the sheep. I would try to explain to people what was really going on and unfortunately nobody wants to hear the truth sometimes, they saw the price shoot up and they just think they were too late to the party, they just missed out on big money and they will get the next one. Funny thing is they are no linger in crypto or left twitter etc. but the popular “traders” are still all there with huge followings partially from flaunting wealth they made by fleecing people in the past.

I have always been involved or interested in markets, investing, and generally trying to find the next big thing to invest in and be there first for the big score. I remember being 18 and starting my own Ameritrade stock trading account back in the middle of the Internet tech stock boom of the late 1990’s , I learned some valuable lessons I will never forget. Back then you bought your music on CD’s, the music establishment had a lock on the industry to there was no a la carte you bought a physical CD of the entire album for $20 that was it. Then came along a couple disruptive technologies MP3 audio compression and peer to peer file sharing networks the first of which was Napster. This new technology was not a whole lot different than the Itunes or amazon music of today. Napster was truly ground breaking technology and I knew this new technology would revolutionize the way people buy and listen to music, so I put everything I had saved as a 18yr old kid working for miniumum wage at the time which i think was about $2200 which in that day $20 at the titty clubs got you 3 songs in the champagne room. Officially with CPI inflation data it’s about $3300 today which for an 18 yr old kid is a lot of money.

Napster supposedly had a first mover advantage and I know this analogy doesn't totally transfer to bitcoin and crypto currency the point I'm trying to make is at a very early stage I saw that this new technology MP3/Peer2peer networks would forever change how we buy and consume music. The company went legit and worked with the music industry to offer legal paid downloads. The technology literally changed the industry but you know what, they went bankrupt. I lost everything... Another example is Myspace, it was facebook before there was a facebook, before that it was yahoo Geocities. My point is we all know blockchain technology will have a major impact on the future, is Bitcoin the “One” . Be honest with yourself and ask yourself out of all of the coins today, does bitcoin have the best technology or is the Napster of crypto currency.

Take a look at this chart, one problem I have with ALL crypto from an economics standpoint is yes Bitcoin is capped at 21,000,000 coins so as to cap inflation BUT there’s more and more coins coming online, over 1400 of them so far and they just keep coming. The problem with that from an economics standpoint is yes the individual coins are capped at a certain supply but the more coins that come online are fighting for the same demand from consumers, so there's an ever increasing supply meeting demand. SO FAR because crypto is new there’s still a increasing amount of demand to meet the increasing supply. BUT because these coins are digital and very easy to create there will come a time when supply of new coins floods out demand. Now you have a serious oversupply/inflation issue where these coins will oversupply the market and push prices down. You can see this in action with some of these alt coins where the devs create a bunch of new coins and then dump them on the market, oversuppling it and the price falls through the floor. Anyway I’m sick of typing if you like this let me know and I might write another one on Alt coins that I think might work well in the future and why. PS I didn't spell check this shit i’m just letting it rip.

Ivory