Has Cryptocurrency's Performance Come to an End?

godcoin (58)in #crypto-news • 5 years ago (edited)

Enter stage right, cryptocurrency!

Over 10 years ago now, Bitcoin made it's appearance and has given us quite a performance. From Bitcoin's example, many other cryptocurrencies have been birthed into existence. This Investopedia article brought up a very interesting yet critical thought about cryptocurrencies. There are a large number of cryptocurrencies on the market, and almost half of them are considered "dead."

As of August 2018, the number of cryptocurrencies on the market lies somewhere above 2,000. This should be a clear signal that the sector is booming, but the numbers are deceptive. A report issued in July of this year found that more than 800 of those are essentially dead, that is worth less than one cent. This comes on the heels of reports of rampant scams and fraud in the initial coin offering (ICO) market, and other signs of trouble for the sector.

The article also goes over some points from both sides of the ring duking it out, those in support of crypto and those considered the skeptics. Clearly, having so may dead currencies on the market is one win for the skeptics. Even though Bitcoin has considerably leveled off compared to the beginning of 2018 and those in favor of crypto will argue that it is becoming more stable, it still holds a lot of volatility. Not only that but since cryptocurrencies are not accepted as a form of everyday payment at the majority of established businesses, it makes a person wonder if cryptocurrency is going to soon be blotted off the map for good.

Exit stage left, cryptocurrency?

Source

These, of course, are all valid concerns, so is cryptocurrency about to keel over? Doubtful, because as technology continues to advance it should be a no-brainer that blockchain technologies will help find ways for faster, more reliable, and safer transactions in the future. The article wrapped up by stating:

As more companies discover uses for crypto and blockchain, and more users accept them as a way to simplify their lives, they will remain a central point of conversation in technology. More interestingly, as it better demonstrates its value in a variety of situations—from banking to buying coffee—the technology will further ingrain itself. Coins may come and go, and many cryptocurrencies are indeed likely to fail, but the sector will continue to forge ahead unabated.

Blockchain technology is and will be the future. Fiat currency will plummet at some point, as many have and continue to point out the signs of a looming global economic crisis. The problem with fiat is once it crashes, you're left with nothing. The barter system will be all you will be able to utilize if people aren't trying to use a weapon to take what you have. The same is true for a majority of cryptocurrencies out there because they are not truly hard-backed by anything worthwhile. This is where GODcoin has your back, literally, since it will be backed by gold and silver! GODcoin allows everyone to invest while the market is still up, and it provides a safe and efficient way for you to not lose out when the rest of the world does. The future is headed for advancements in technology, so if nothing more, at least you will be prepared for that transition if you invest wisely now.

This article was authored by Judith Monte, @belovebelight

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