Insider’s view: How I stopped being afraid of blockchain bubble popping under my hands

Everyone’s  talking about it. There are now more than 1800 cryptocurrencies and the  number is growing. Traded volume of coins worldwide exceeds 4 billion  USD daily. The hype is building up, but the masters, seasoned in the  world of crypto investments, are on their toes. Nothing simply lasts for  ever and the ride we’ve had so far is no exception. At least that’s  what the sceptics say and what I used to think. Up until recently.

Due  to the crowdsale-centred financing model of the vast majority of new  cryptocurrencies, it may be hard to distinguish, where innovation ends  and the proverbial bubble begins. And in the misty mountains of any  business prenatal development stages, during which most of the projects  ask for investment capital through ICOs, the weather changes quickly.

The crypto market numbers have been going through the roof. As Kickstarter on steroids, as Balaji Srinivasan puts it in his article. Needless to say, with all its flaws too. At the same time Gartner Inc  have provided some quality nightmare material for all the  blockchain-futurists out there, positioning blockchain on the Peak of  inflated expectations segment of their Technology life cycle curve (here). Long story short, in the dynamic environment of blockchain solutions, one can only be so sure about what will happen next.

And  even I, a sworn crypto-optimist, have started to watch the growing list  of new-born altcoins with concern. I mean, who wouldn’t, when you can  invest in coins that are meant to be used exclusively by LGBTQ community  or to finance orphans throughout the world. But there is more. For  example, who would say no to investing in the coins bearing names of the  first orange president of the United States Donald J. Trump, Russian  tsar Vladimir Putin or aquiline-nosed UK PM Theresa May?

Must READ:   Financial Globalization is banking on the emerging digital, cashless, blockchain technology

Currently, I find myself involved with the great guys of DutyFoundation  as we are working on the flagship project called DutyCoin and I  couldn’t but take such undesirable acquisitions to the fast-growing  altcoin market personally. After all, these guys, pushing their  crypto-nonsense on the market, are the ones pointing fingers towards the  bubble they helped creating. Somehow, I cannot stop thinking about  little kids playing with matches…But then it hit me. In the end it  doesn’t matter if there is or isn’t a bubble to burst. One way or  another, its end will necessarily sweep away only those who don’t bring  anything new to the table. All those altcoins introducing completely new  blockchain design, completely new algorithms, security as never seen  before, otherwordly encryption…blah blah blah. The future of crypto  market I believe in and that makes me care so little about that infamous  bubble lies in the token-as-a-service blockchain solutions. Those who  don’t strive to innovate will be forgotten. Easy as that. And they are  the people, who should be worried about the bubble popping. Because it’s  their bubble, not mine.

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One Reply to “Insider’s view: How I stopped being afraid of blockchain bubble popping under my hands”

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