99 Percent Of All Cryptocurrencies Will Go To Zero In The Future
I explain you why the CEO of Ripple is absolutely right on this point.
During his last appearance on Bloomberg, Ripple CEO Brad Garlinghouse reiterated once again his prediction that 99 percent of all cryptocurrencies will probably go to zero in the future.
Here is his full statement:“I have said publicly before that I think 99 percent of all crypto probably goes to zero, but there is that one percent that I think is focused on solving a real problem for real customers and is able to do that at scale.” — Brad Garlinghouse
From my point of view, Brad Garlinghouse is absolutely right and I will explain why in what follows.More Than 4700 Cryptocurrencies Available
It is November 9, 2019. Looking at the reference site CoinMarketCap, I can see that 4782 cryptocurrencies are currently listed with a market capitalization of $240.3 billion. All this with Bitcoin dominating the market by 66.4%.
This rather phenomenal figure is due to the fact that it is very easy for anyone to create their own cryptocurrency, launch it and try to convince a few users to invest money in their adventure.
The other side of the coin regarding the ease of creating a cryptocurrency is that many of them launch themselves as copies of other cryptocurrencies.This is technically true because many of these cryptocurrencies are only forks of Bitcoin or other Altcoins.
This is even more true from a use case perspective behind these new cryptocurrencies. For the most part, they bring nothing more than the cryptocurrencies from which they come.
For their founders, we have the impression that it is simply an opportunity to earn as much money as possible in a minimum of time.Cryptocurrencies That Do Not Solve Real Problems Will Not Survive
The ever-increasing interest in the world of cryptocurrencies allows the latest launches to last for a few months or e...