I was talking to a friend who was very skeptical about crypto scene in general and while I do agree that the action especially in the last 2 months has been crazy I kept talking about how I think this something from future. To me this is like how computers and internet would have been like in mid 90s, of course we all know about dotcom bubble. The whole crazy period lasted several years and it was US market primarily that we are talking about but here we are talking about the world market and 24x7 action.
The conversation moved to what crypto is all about, my friend felt it was just a bunch of currencies created for payment or store of value use case which intrinsically is worth NOTHING, but have inflated value because of pure SPECULATION and GREED. I actually think it is not a wrong accussation, there are like 1300 coins out there and a lot of them do fall in that category. I see pump and dump groups working to push the value up of coins with nothing but a high level concept and nothing else.
But I don't think thats true for crypto as a whole, there are lot of solid projects and several which will invent new industries and new ways of collaborating and doing business and will build new economies and will grow even further. But but but, the ride will not be smooth for investors, there will be collapses and rises as well
A couple of examples I used during my conversation were
- Golem Network Token ( $GNT)
Golem decentralizes Cloud computing, cuts cost and improves utilization of computing resources. Its like AirBnb of Computing power to put it in very simple language
"Golem connects computers in a peer-to-peer network, enabling both application owners and individual users (“requestors”) to rent resources of other users’ (“providers”) machines. These resources can be used to complete tasks requiring any amount of computation time and capacity"
The Golem Network is Ethereum-based, so actions within the Golem blockchain are executed as smart contracts. Smart contracts and therefore the networks they support are optimized not with fiat currencies but with cryptocurrency built specifically to execute said smart contracts. Which in this case is GNT
They still have a long way to go, but going by roadmap and the use case they are addressing this is a very good example to cite to folks who are skeptical about crypto currencies having real world impact
You can get more details at their Site: https://golem.network/
GNT can be purchased on bittrex and is close to ATH right now, but seems to be sensible investment
Some other coins like this are FileCoin, SiaCoin for storage and DBC for AI just to name a few with transformative real life applications. The future just got more exciting!