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All generalizations are stupid. These days there are a lot of predictions that call crypto a huge scam, or they predict that Bitcoin will go to zero, or that Ether will become redundant. In a recent interview with CNBC, the famous scammer Jordan Belfort said: " Everything is so stupid." This thing is about to evaporate like a mirage. "
Jordan is a convicted criminal for his fraudulent manipulation programs stocks dating back to Dotcom's time nearly 20 years ago. So you have to give him credit for identifying opportunities to deceive the public. But his opinion hardly adds anything new.
We all know that there are cryptographic scams. This is why it is so important to remember that the whole threat of regulation is not bad. It has the advantage of cleaning up things so that crypto-users and daily investors are not driven by pumping and landfill schemes.
But what is Jordan's current level of knowledge about the uses and technological benefits of blockchains and cryptocurrency? I do not have much suspicion. I know people who spend 12 hours a day on the subject. In the absence of a real understanding, generalizations come in handy.
Even serious and well-informed cryptic followers get carried away if, and when, they begin to believe some of the absurd visions exhibited in the average whitepaper of the ICO.
Just look at the so-called murderers of Ethereum. EOS and many others start out as Dapp on the Ethereum platform as they build their own mainnet. Before the launch, there was a lot of hype about how EOS Mainnet would change the game permanently. Since then the story has changed due to the numerous network problems that followed.
EOS is currently trading close to $ 6.50, comfortably above the $ 4.50 minimum of August, but well below the April high of $ 22.00. This is not a condemnation of EOS or their Mainnet. Just like the Internet, the development of the encrypted world takes a lot of time and money.
We must remember that EOS is well funded as one of the 10 best ICOs of the last year and actually have something to show for their time and money. So seriously dealing with EOS is an intelligent move.
Here Is The Point
C & # 39; is a provocative article with the title: Cryptocurrencies Need to Die for the Market to Live of the people of hackernoon.com. The author, Anthony Xie, points to a study by investinblockchain.com in which only 36 of the 100 largest coins and tokens actually have a working product. Xie suggests that the cryptographic market is too robust and that the trade in all 200 cryptosides is closely related.
For investors, Xie's observation is perfect. Why should all cryptosides trade this way? After all, when we remove the complex technology, we take care of the area of assessment of both the motivation for their business plan (white paper) and the likelihood that any business with limited management experience or perhaps without success is successful.
We have mentioned on several occasions the risk capital investment model which assumes that only around 5% of their investment projects produce positive results. It usually takes 3-5 years to show these offers. Those who do, however, compensate for a multitude of sins with the other 95%.
ICOs are certainly no longer advantaged in most cases than venture capital projects. If we take the first 10 cryptocurrencies, those who have five years of construction made over Bitcoin, Ethereum, Ripple, Litecoin and Stellar: very few.
That said, why should all cryptographic prices be exchanged in such a close correlation? The answer is because the investment world is still applying generalizations to decisions. Overall, this will change over time and this will serve the largest, most developed projects.
Featured image courtesy of Shutterstock.
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