Bitcoin · Cryptocurrency

What is Future of the Cryptocurrency?

Fuat Balta https://aifounders.carrd.co

Last updated on October 29th, 2019

What is the future of Crypto currencies because there are thousands of of Crypto in the market?

Ben Appleby Founder and CEO of BlocksafeCrypto.com looking to find a Digital Marketeer to join the growing team

October 29th, 2019

Currently where seeing Bitcoin dominance at near all time highs...possible heading to 90%. This means blood on the streets for altcoins.


One thing is for sure in the near to mid-term Bitcoin will continue to lead the pack until we see new money coming in from fresh investements then we may see another alt-coin cycle.


There are lots of good projects out there aiming to solve real-world problems with strong teams and good leaders. Do your research and follow the scalable problem solvers. Ignore the marketing hype. Don't drink and buy.


My new venture BlockSafeCrypto.com is currently offering free support on crypto and blockchain. Get in touch and we'll be happy to offer our expertise!

Mark Marasch CEO Maraschino Services LLC, Program Manager, Entrepreneur

October 29th, 2019

Cryptocurrencies are here to stay. As some others have observed, most of them will probably die off, going to zero value. A few good ones will get adoption and do very well over time. Brand recognition, network size, and useful features like privacy features will play a huge role in which ones are successful.


What purpose do they serve? A decentralized system that has only a preplanned, predictable level of inflation like Bitcoin can do a lot to make central banker-run, centralized systems that inflate at higher and higher rates at government whims obsolete. This only happens when people wake up to what's being done to the fiat currencies they hold or when those currencies get weaponized against offshore holders. Taking it to the extreme, people in countries suffering hyperinflation have used cryptos as black (aka free) market money that allows their businesses to operate and their economy to keep flowing.


Other purposes? Even an open ledger like Bitcoin can serve as a censorship-proof payment system when the money transfer gatekeepers like PayPal decide they don't like your business. With cryptos you can continue to speak truth to power and operate with views that the establishment wishes to crush.


Beyond cryptos, blockchain has countless uses besides money. Provenance systems proving the pedigree of products so that consumers really know where they came from and allowing companies greater control over their supply chain are a great example.


Blockchain enables systems with bulletproof security like Horizen, which allows people to post files to IPFS that can't be taken down and are posted under complete anonymity. Whistleblowers don't have to worry about situations where Assange has been tortured, reveals the keys to his WikiLeaks files, and governments hunt down those who fed him information. So, blockchain is one of the ultimate tools for whistleblowers.


Basically, any situation where you are exposed to risk because of counterparties and middlemen who you may or may not be able to trust can be handled by a system that makes things trustworthy for all involved using immutability and understood open-source algorithms to do the work.


Here's where things could get dicey: If/when quantum computing becomes more practical, we could see a huge shift toward cryptos and blockchains that are designed to be quantum-resistant. Bitcoin's SHA-256 might be cracked and everybody winds up dumping their BTC for whatever they can get, if they still have it. How likely is this? It's hard to know, but Black Swans do happen!


The real answer to the original question? Decentralized cryptos won't be stopped by governments and only the market can decide their proper value. That same market will decide which blockchain use cases make the most sense and will be used in the long-term.


Paul Garcia marketing exec & business advisor

October 29th, 2019

As of July 2019 there are around 2300 crypto currencies with only about $350B in value, over 80% of which belonging to the top 10 brands. That's minuscule volume for currency. Most will fail and disappear due to lack of interest. A couple might get big enough for regulators to finally decide to regulate them more closely. And that's about all we can say for the future of this psuedo-monetary form. People have long traded in weird things, beads, fish, jewels, furs, chickens, favors, it doesn't really matter. Crypto isn't unique in that aspect, but it has a relatively low overhead and doesn't spoil. Your guess is as good as anyone else's what the future is. Like other industries, the easier it becomes to get started (barrier to entry), the more people will try it. Few will survive, most will fail, and that's the way it is. It might be a fad, or it might be durable. The question is really, what problem does cryptocurrency solve?