A computer was asked to predict which start ups would be successful back in 2009.The results were fascinating.Risk management is the most important thing in trading but what if a computer could predict which crypto or ICO would stand out 10 years from now.
A computer was programmed to pick 50 successful startups from a pool of 50,000. Just recently 9 years later the list the computer chose was revisited. Among the startups were Etsy, Spotify, Evernote and Cloudera. One thing most of those companies had in common was technology and solving a specific need in society. Essentially in Economic terms there was a substantial demand for their supply.
Years ago in Nigeria there were over a 100 banks and the then CBN governor Charles Soludo decided each bank had to meet a certain criteria to survive. There were mergers and acquisitions but in the end 25 banks survived and the economy improved because of it.
The same thing happened in the US in 2008 when the economy crashed. The Amazons and Googles survived.
It got me thinking about cryptocurrencies. There are so many ICOs coming out and I hope people myself included do their due diligence and research. I have faith in Bitcoin, Ethereum,Litecoin,Neo to name a few because they have been tried and tested.Some will stand the test of time and some will be weeded out. Let’s invest wisely.