Oh yay! More experts telling us what crypto is all about. But this article isn't all that bad. In fact, I think it actually hits all the right notes. If you are just getting into blockchain and cryptocurrency, this is one of the few such articles that isn't just a freak out by the powers that be so it's a good intro to the big themes. Here are their predictions. A link to the fill article is below.
1. Bitcoin and Ethereum are here to stay.
Well yeah. Sort of obvious to anyone that hangs around the crypto community. But the FUD flying about is making newbies cautious. And they miss a few of the other big names that are very likely to do well - coins such as Ripple, Neo and Tron to name a few.
2. As yet unknown coins will hit the big time.
This is another obvious one. Crypto is in its cosmic inflation stage of a Big Bang genesis. New projects are popping up all over the place and as use cases and useful solutions start to take hold, some of these alt coins are gong to do very well.
3. Sure, people will get burned.
There's an old saying around the investment community: "Bulls make money, bears make money, pigs get slaughtered". Anywhere money is involved, people get greedy. There is nothing about crypto that saves us from our darker impulses. So, yeah. People will do stupid things and lose a lot of money. A bigger problem is the proliferation of scams and fraud. Even a careful person can get burned from time to time.
4. ICOs will (eventually) give Silicon Valley and Wall Street a run for their money.
The investment bankers and deal brokers hate this one. They make their profits charging huge fees to close investment deals. ICOs left them in the dust and now they are playing catch up. Their favorite approach is to regulate the crap out of crypto to make it harder to use tokens to finance an idea.
5. Regulations will stick.
See number 4. Regulations are a mixed bag. Some regulations are good for the space. Anything that helps prevent fraud and criminality strengthens the ecosystem. But regulations that support the status quo's exerting control and protecting their old business models are already strangling innovation.
6. Speculation will subside as “killer apps” take hold.
I disagree somewhat. I suspect that the extreme volatility in price will subside. But what is the traditional stock market if not a speculator's game? What will happen is that as regulations take hold and the market matures, the risk profile of a particular crypto project will be clearer. This will lead to a more stable market and more confidence in general.
7. Cryptocurrencies will pressure incumbents to improve.
This is the power of crypto taking its place in the techno universe. This is disruption in action. Either get on board or get left behind. New companies are going to sprout up in every market and industry. Cling too tightly to how it's always been done and an existing business will get eaten alive by change.
As promised, here's the link to the original article:
https://dollardestruction.com/2018/04/14/the-future-of-cryptocurrencies/