Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
The survivors?
#1
A while ago I posted that lots of coins and tokens (90%) would disapear.
Well, you should have a look at this.
It is written by a Marius Kramer. I have read many articles from this guy and I believe he has to tell things that make sense.
No reason to panic.

Let’s have a look at the top 10, where 7 out of them will most likely fail. Why? Because they have really bad technology and are only there, because they were one of the first coins that existed.

  1. Bitcoin

  2. Ethereum

  3. Ripple

  4. Bitcoin Cash

  5. EOS

  6. Litecoin

  7. Cardano

  8. Stellar

  9. IOTA

  10. Tron
Let’s have a look at Bitcoin, Ethereum, Bitcoin Cash and Litecoin first.
They all have

  1. Very slow transactions that sometimes even take hours. This is unusable as a digital currency.

  2. Low scalability of only 7 transactions per second (TPS). VISA currently does 10,000 transactions per second on a normal day and can handle 60,000 at peak. This is the minimum number of TPS that a digital currency should be able to handle. Maybe this will be improved with the lightning network, but this isn’t so sure. Bitcoin Cash is a bit better here with a couple of hundred TPS.

  3. Fees, which make it unusable for micro-transactions.

  4. They are very wasteful, because Bitcoin uses as much energy as the country Ireland.

  5. Extremely centralized by 2 mining pools being able to launch a double spend attack with a 90%+ change of success. The only factor currently still protecting Bitcoin is a social one. This is zero security in computer security. 

    In order to attack Bitcoin, it only needs one malicious intern with some skill to take over Bitmain (since Bitmain is already in control of 51% of the hashing power https://twitter.com/cryptoble/st...) for a short amount of time and launch a double spend attack, be through social engineering, blackmail, coercion, hacking. We don't know how many times this has been attempted, probably several times already and it failed due to luck. The only variable protecting Bitcoin right now is a social one. This is zero security in computer security!!

    If that happens, this would probably also crash the market if that happens, because people will notice how vulnerable BTC is. This is only worse in Litecoin and Ethereum.
Now let’s look at EOS and Ripple.
They have high scalability, but only because they use only around 50 nodes for consensus. Ripple even picks those nodes by themselves and have thus complete control over who decides what transactions are valid. This isn’t decentralized at all. EOS lets the community select the nodes at least, but it also still only uses 21 nodes for consensus. This is not good design and very centralized.
Let’s look at Tron.
Tron has a plagiarized whitepaper, for which they even had to apologize. Furthermore, they don’t even have a product yet. Go figure.
Let’s look at the ones that aren’t that bad, Stellar and Cardano.
Stellar is similar to Ripple only that its consensus algorithm is that centralized. Cardano is not a bad platform actually, however, there are platforms that do everything that Cardano does but better.
Let’s look at the 3 platforms that are much better than all of the coins in the top 10. Instead of hours long transactions, fees, high centralization, low scalability and very high energy usage, they have

  1. Instant transactions

  2. Zero fees

  3. Near infinite scalability and decentralization through side-chain/off-chain/horizontal scaling

  4. 1 millionth the energy usage of Bitcoin
Those 3 are IOTA, Skycoin and Elastos and they will probably compete for spot #1. Here a little summary about them

  1. Iota
    Beyond the 4 above mentioned characteristics, Iota offers decentralized storage, Oracles and outsourced cloud computing.

    While Iota is already worth $5B, they are a juggernaut and they will most likely make Bitcoin a run for the money soon. There is a lot of criticism towards Iota because it currently uses a coordinator to verify transaction before there are more nodes on the network, at which point it can be removed.

  2. Skycoin
    Skycoin offers decentralized storage, smart contracts and complete privacy. Finally, it offers the completely decentralized internet, Skywire, which might be bigger than all cryptocurrencies combined. They just launched the testnet for Skywire a week ago.

  3. Elastos
    Is the most comprehensive, efficient and most customizable dapps operating system and runtime environment.
Then you have the smaller, specialized coins that are worth investing in.

  1. Enjin
    ENJ is the best gaming coin At a $100M market cap, ENJ is a gaming coin that already has a network of 20 million players and is being integrated in the game Minecraft

  2. Elixir
    Elixir is a lending platform at only a $15M market cap. Elix has such a small market cap, because they have not done an Ico, though, they are on par with Salt at a $300M market cap in terms of development progress and further than Ethlend, who are sitting at a $80M market cap.

  3. VeChain 
    VeChain is a BaaS (Blockchain-as-a-service) and Dapps platform with outstandingly strong partnerships

  4. BNB
    BNB is the fee token of Binance it’s one of the strongest coins of 2018 already and with Binance’s success will probably make it into the top 10as well
So, there you have 7 excellent coins that are much better than the current coins within the top 10 and that will probably also replace them this year. Happy investing. Smile
What is this thing that builds our dreams, yet slips away from us?

Reply
#2
Interesting, but still speculation. I remember when VHS was not supposed to replace Betacam because the technolgy was poorer. I remember that digital photos was too poor and expensive to replace argentic phtotos. I guess that I could find other examples, but you get the point. What makes one technology win over another is not as easy to explain as « it is a better technology ». It is more of a popularity contest... which is based more on human emotion and often leads to weird things. Just my two cents on this.
Reply
#3
Put Lisk on the list as well.

Regarding Ethereum. It's not slow. It can be if you don't put in a "serious" gas price that in all cases are measured in fractions of a $. I already posted a prediction for Ethereum http://rimbit.dk/thread-914.html. It will become the coin to overtake the current position of Bitcoin. Simply because it's fast, cheap and all serious tokens are on the Ethereum platform.

It's true Cardano has a better technology, but Ethereum has proved it's worth and is the first smart contract platform.
Cardano is the most promising 3 gen. crypto right now.


Reply
#4
(2018-09-11, 11:43 AM)Cell Wrote: Interesting, but still speculation. I remember when VHS was not supposed to replace Betacam because the technolgy was poorer. I remember that digital photos was too poor and expensive to replace argentic phtotos. I guess that I could find other examples, but you get the point. What makes one technology win over another is not as easy to explain as « it is a better technology ». It is more of a popularity contest... which is based more on human emotion and often leads to weird things. Just my two cents on this.

You are correct for the full 100% Cell. Sometimes marketing wins over quality.
What is this thing that builds our dreams, yet slips away from us?

Reply
#5
Eth is taking a serious hit... I am not the best TA expert... but I am watching it seriously for a major buy when I think it reach its lower dip. That could become very lucrative for a long term hodl... what do you think?
Reply
#6
(2018-09-12, 11:43 AM)Cell Wrote: Eth is taking a serious hit... I am not the best TA expert... but I am watching it seriously for a major buy when I think it reach its lower dip. That could become very lucrative for a long term hodl... what do you think?

I even think it would be for short time hodl.
What is this thing that builds our dreams, yet slips away from us?

Reply
#7
I think hold above 30 ETH for two years and then smile and buy a boat and a new house.Big Grin
Cardano is the most promising 3 gen. crypto right now.


Reply
#8
A boat... I would prefer a plane of my own. Wink
Reply
#9
(2018-09-13, 09:39 PM)Cell Wrote: A boat... I would prefer a plane of my own. Wink

You have a plane already!  Tongue
Cardano is the most promising 3 gen. crypto right now.


Reply
#10
Good point about Betamax - better tech but still lost out. Marketing counts for a lot. Everyone has heard of BTC and ETH must be pretty well known by now too. My ETH were held at C-Cex which looks like it means they are lost forever to another cheating scammer Smile
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)