Bitcoin
$10,780.99 0.80%
BTC · 46w

99 Percent Of All Cryptocurrencies Will Go To Zero In The Future

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...

Continue on medium.com
Recent news
BTC +0.80% · redbtc.org · 2h

BTCPay-powered GitHub Donations

This flow creates a donation page where GitHub users can make Bitcoin donations and automatically get added to Backers lists on your GitHub repo's readme, docs and homepage.
BTC +0.80% · anchor.fm · 2h

Tales from the Crypt: #196: Cynthia Lummis

Join Marty as he sits down with Cynthia Lummis, the Rebulican Nominee for the U.S. Senate out of Wyoming, to discuss: - Cynthia's platform of fiscal responsibility - Cynthia's experience Wyoming's sta...
BTC +0.80% · bitcoinops.org · 4h

Bitcoin Optech Newsletter #117

This week’s newsletter describes a compiler bug that casts doubt on the safety of secure systems and explains a technique that can be used to more efficiently verify ECDSA signatures in Bitcoin. Also ...