This is awesome. I knew I followed you for a reason!
So much of what you say is true, but if you don't mind, I'd like to add a few important points to consider:
#1:There's this idea that just a few coins will emerge as mainstream coins, but consider the fact that, upon becoming a user of a product/service that crypto holds, you're also instantly a shareholder and a holder of inherent stored value! This changes everything! That's why regulation is so difficult. How do you regulate something new that is traditionally 3 separate things?
I expect that a majority of the financial activity that we currently understand to be wall street will eventually transition to this rewarding market. It won't be rewarding to them in the long run, since they're not actually users, but they make their profits off of playing middle man professionally, and I expect they'll do that until all of the actual users are also owners by default, which is beyond their control.
#2: While I understand your point on advertisement location being a significant factor, it's important to also realize that these locations have had decades, if not centuries of time to integrate a variety of different social and economic customs. When a cryptocurrency manages to fit that niche, and compete with traditional business, the potential is frankly unknowable at this time.
#3: A youtuber I typically follow, Ivanontech, said this fantastically, and it makes sense to me. This craze has a lot in common with the .com bubble. There's this notion that anything that is crypto is untouchable and amazing! As you stated, there's so much shadiness and fast money scams out there. It's important to learn as much as you can about a cryptocurrency, and in my opion, actually try using a service that they have, before getting involved. Quick gains may come, but you'll be on edge always wondering, just like you said, when will the uninformed speculators bail?
Agree with a lot of this. That's why I try to test out the wallets and services of some of these coins before I dive in too deep.
Ted turned me onto NAV for this very reason. Really interesting research, project plan, and a working wallet that stakes and has consistently given me coin. Even if NAV doesn't pan out in the long term, it gives me confidence that there's something tangible there I can fall back onto. That said, really hoping the NAV team comes through with their fiat-to-NAV mechanism soon. I've been looking for good alternatives to Coinbase for a while due to their high fees.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
EOS concerns me a little bit with something like NAV. Not so much as a direct competitor, but that crypto seems to be innovating so fast, that existing projects could get left in the dust in terms of technology. It may be 5 years from now, projects begin to favor EOS code copies. It's hard to gauge, but this is a recent concern of mine with the project. That said, if they're the first to achieve anon-dapps, I don't see how the price could stay down.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agree, but EOS needs to deliver first. So for now, I'm holding a lot of NAV.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah, it's just a long-term concern of mine. It really shouldn't factor in at the moment. And when we consider the number of scam coins that make it into the top 50, NAV stands a chance of having its day.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My biggest concern with EOS is that there's absolutely no legal guarantee or requirement in any way that the current ERC-20 EOS tokens are going to be converted or redeemable for actualy EOS tokens in the future. If that were a faint legal loophole to allow an ICO to occur, I'd undertand that, but they won't allow US residents to partake! Odd.
I'm excited for the platform in every way, but the purchase agreement makes me view the current ERC-20 EOS token to be essentially worthless.
There's a lot to be gained from tomfoolerly like that, especially if the platform is as revolutionary as it plans to be. The combined potential market manipulation ability of a project of that size with that legal language and off-shore structure, in addition to it's technological potential, could make for game changing market moves at their whim.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Look at NAV's chart right now...what do you make of it?
https://www.tradingview.com/chart/N8XaD0mB/ - looks like it's doing some weird U patterns up and down in a very clear row.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My view when a chart forms a stall bottom but doesn't go any lower, we see this in Ripple's chart too. A long-term buyer, has picked that level and is supporting it. Sometimes could be multiple buyers picking that level. Another factor causing this is BTC soaring, NAV is only traded in BTC, so normally BTC rallying could cause NAV to drop in BTC value, yet if buyers pick a ratio, such as .0008 NAV/BTC to hold the line against the ratio dropping, then NAV rises along with BTC even though the chart is flat. It's a good way to invest in BTC if this is truly what is happening because a person could get all the BTC appreciation and then if NAV has any additional appreciation, they could capture that too. Not guaranteed, just something that can happen with coins.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
any idea when nav are going to launch its software
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well, the issue is, so many hyped projects come online, it is hard for the old hype to compete with the new hype. NEO would be great if no new projects ever launched. But in the next 12 months, about 300+ more projects are going to launch, enticing the speculator dollars elsewhere, and if a system has no users, we see the problem. Speculators get bored, they want the fast money, and "new is better" in crypto, 90% of the time.
I agree about the system users, using a system without necessarily touching the crypto. That's one reason I like EOS a lot. In general, I consider those system use tokens and not currencies, but the system use can make it into a popular currency.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit