Before I get to far into this let me just say I like crypto, a lot. BUT I have major issues with many of them. 99% of them are going to fail and go away. I have read they are not a business, they are a currency so they do not have to be decent at all basically. The rules do not apply and they don't but that doesn't make it right. They don't have to give two shits about their investors. A good example of a currency not giving a fuck about their investors is HEMPCOIN/THC. I have owned it a long time. Well until recently. If you're on twitter you saw when I left them and why. My name is the same there as it is here. I have tried and succeeded in NOT having a twitter account for many many years. THC pissed me off enough to make one.
What pissed me off? Well for starters they didn't produce most of what they said they where going to and more importantly and this applies to any time of busness/currency/whatever.. IF you have investors and you do not deliver you best make with a fucking explanation of why. You might just keep the bulk of your investors. Misspelled words, amateur hour use of words all together and things they look like they made in 5 minutes like their years plan.. I have not wrote them off completely just using them as an example. I'll be watching them to see if they grow the fuck up and be professionals or not. YOU'RE dealing with A LOT of money and professionalism is an ABSOLUTE must!!
Professionalism.. Not to be rude but most of these coins are being made by very young people and their young ways of thinking shit should be. Like everyone getting free money.. NOTHING when it comes to giving people money is free. It has to be paid for somehow.. But many of them have absolutely no moral compass, they do not know the first fucking thing about the importance of communication with their investors.. some are really good, most are fucking garbage at it. If you pay attention and are deep into crypto you know this to be true. We've seen the clear cut scams where these little bastards just take the money and run. Personally I'd love the job of tracking these stains on society down and breaking both their legs right before I shoot them in the fucking head. Hackers and thieves are no better than a child molester in my book. Kill them all and be done with it I say.
Now why in the fuck do we need over 1500 different currencies? We DON'T holy fuck. I understand people are trying to make money and all which I do like. But quite simply in the end there's gonna be a very small number that survive and are useful. I wouldn't in a million years want to have to have to be responsible for having 200 different currencies that I actually need. I mean can you imagine if you had to have and individual coin for everything? What a pain in the ass that would be. The coins that are going to be around when all this insanity blows over will be the ones that are usable across several industries and services. The ones that are trying to be a single use thing.. BYE in time.. There might be one or two that have a single use in the future like a banks personal one to transfer funds or whatever but I've paid cash my whole life for things.. Pretty easy. PAYS FOR EVERYTHING. So single use is useless.
Volatility.. I think anyone paying for anything with bitcoin at this point is not real bright.. Huge fees for starters.. Slow as fuck at times.. And I'm sorry but when I read a thing that a guy bought a home with bitcoin or a car but it had to be insured by cash.. well there's more fucking fees.. But I get that.. If I was running a business I'd require the payment to be insured also. I'm not sorry to say if you pay me $1000 bucks in bitcoin.. I'm still gonna have my $1000 the next day. I'm not having a grand one day and 999.99 tomorrow.. Unacceptable.. Business will never stay in the green if the bank account is dropping. And yeah I get there is an upside to the payment IF bitcoin goes up.. but sorry running a business that is successful cannot have its funds changing every second of every day. So until any crypto, not just bitcoin stabilize in price they're basically useless to me as a form of payment. I see them like I see a stock. They are a commodity more than anything..
Now I do love they are what the crypto world is trying to do. Take the power back. Long overdue. But the road to any of them actually being universally used is a very very long road. Until they are stable they do not work as payment unless the USD amount is guaranteed. Call them what you want they are still valued off the USD so IT IS and for a long time to come the KING. Ask ANYONE who runs a successful business that has given them the life they have if they'd be ok with the USD amount going red.. You're not going to find a single one. I know everything will be paid for digitally eventually. Cash is going to go away which I think is FUCKING STUPID. I like a form of payment I can hold, that can't be hacked, that won't be inaccessible should some disaster happen. I know the odds of that are small but they are ever present and growing in threat. Break your phone and it can be a long dammed time depending on who you're dealing with until you have access back to your funds. That is also a really just horrid thing about crypto. I lose my wallet I go get a new card. Fuck up with crypto the right way and its just gone forever.. Nothing you can do.
So yeah 99% of these are going to fail. And in the end we will only have a few because having 1500+ is just ridiculous. The survivors will be universal. Anything else is just shit.