by Jon Creasy for Hackernoon
The mainstream media is passionate about headlines where they call the bubble crypto. You can see this everywhere.
I, on the other hand, wrote several articles on why I believe the opposite is true. However, as a mental exercise, I like to think of which tokens would stand if the bubble really burst.
Before diving into my opinion on the subject, let me give you a caveat:
I believe that the so-called "crypto-bubble" is unlike anything we've ever seen, including the internet bubble and the tulip bubble, and when / if it blows up, it will not behave in a legitimate way or the way investors expect. I can not predict the future, but I know that crypto-coins are different. And I'm not alone in that opinion.
All told, my three choices for surviving the "Crypt Crash" are Bitcoin, Decred and Monero. Let's share this individually.
Bitcoin - The "Value Reserve"
Bitcoin has existed for nine years - an eternity when it comes to crypto-coins. He has been to hell and returned several times, including some forks in the not so recent past. Many of the problems involving Bitcoin come from members of the community who wish to satisfy demands of scale, forcing Bitcoin to remain a currency. Without getting technical, it seems to me better if we let Bitcoin remain what it has become: a long-term value reserve. Letting Bitcoin be the store of value that most people are using, this opens the door to yet another survivor of the "crypto crash." This kind of currency would need to have low rates and be quick, which brings us to my next choice.
Decred
Totally decentralized, Decred makes changes in the system by the vote of the whole community. There is no centralized coalition that can "fork" the blockchain whenever you feel like it. The community really makes the decisions, and that makes Decred stand out.
In addition, Dered is implementing the Lightning Network, making it extremely fast and with low rates. In short, this slot for survivors is the "I'd buy a coffee with this token" slot.
I recognize that there are several alternatives to being in this place among the survivors, especially, in my opinion, Litecoin. However, being a fork of Bitcoin, I believe that most people will opt for a day-to-day currency that is different from Bitcoin to be distinguishable. And Decred is not just an option with which you can buy coffee and groceries - it comes with a "savings account" too, through your proof-of-stake system. By saving your Decred coins, you earn a fixed amount of "interest" as you would on a traditional savings account. Except with Decred, you're doing significantly more than you would with a bank.
Monero - "Safe and Anonymous"
The third aspect of financial life, in my opinion, is security. There are transactions that require anonymity for a variety of reasons that are not illegal. Perhaps one government wants to transact with another without the whole world knowing, or maybe a business wants to make a purchase of another business not yet public. Or perhaps more security is needed between the parties because of legal concerns.
Whatever the reason, I believe that at least one token that focuses specifically on anonymity will survive the "Crypto Crash". It will probably be used primarily for transactions and not for storing value or making daily purchases.
3b
It is worth mentioning that Ethereum is not on this list. None of this is to say that Ethereum can not or will not survive a crash in the crypto-coins market. However, I wanted to put only three essential tokens, and ETH failed to be a part of them.
Do not let the possibility of a market crash driving you away from the criptomoedas will give you opportunities that you will not find anywhere else. And for me, it's wort it
The mainstream media is passionate about headlines where they call the bubble crypto. You can see this everywhere.
I, on the other hand, wrote several articles on why I believe the opposite is true. However, as a mental exercise, I like to think of which tokens would stand if the bubble really burst.
Before diving into my opinion on the subject, let me give you a caveat:
I believe that the so-called "crypto-bubble" is unlike anything we've ever seen, including the internet bubble and the tulip bubble, and when / if it blows up, it will not behave in a legitimate way or the way investors expect. I can not predict the future, but I know that crypto-coins are different. And I'm not alone in that opinion.
All told, my three choices for surviving the "Crypt Crash" are Bitcoin, Decred and Monero. Let's share this individually.
Bitcoin - The "Value Reserve"
Bitcoin has existed for nine years - an eternity when it comes to crypto-coins. He has been to hell and returned several times, including some forks in the not so recent past. Many of the problems involving Bitcoin come from members of the community who wish to satisfy demands of scale, forcing Bitcoin to remain a currency. Without getting technical, it seems to me better if we let Bitcoin remain what it has become: a long-term value reserve. Letting Bitcoin be the store of value that most people are using, this opens the door to yet another survivor of the "crypto crash." This kind of currency would need to have low rates and be quick, which brings us to my next choice.
Decred
Totally decentralized, Decred makes changes in the system by the vote of the whole community. There is no centralized coalition that can "fork" the blockchain whenever you feel like it. The community really makes the decisions, and that makes Decred stand out.
In addition, Dered is implementing the Lightning Network, making it extremely fast and with low rates. In short, this slot for survivors is the "I'd buy a coffee with this token" slot.
I recognize that there are several alternatives to being in this place among the survivors, especially, in my opinion, Litecoin. However, being a fork of Bitcoin, I believe that most people will opt for a day-to-day currency that is different from Bitcoin to be distinguishable. And Decred is not just an option with which you can buy coffee and groceries - it comes with a "savings account" too, through your proof-of-stake system. By saving your Decred coins, you earn a fixed amount of "interest" as you would on a traditional savings account. Except with Decred, you're doing significantly more than you would with a bank.
Monero - "Safe and Anonymous"
The third aspect of financial life, in my opinion, is security. There are transactions that require anonymity for a variety of reasons that are not illegal. Perhaps one government wants to transact with another without the whole world knowing, or maybe a business wants to make a purchase of another business not yet public. Or perhaps more security is needed between the parties because of legal concerns.
Whatever the reason, I believe that at least one token that focuses specifically on anonymity will survive the "Crypto Crash". It will probably be used primarily for transactions and not for storing value or making daily purchases.
3b
It is worth mentioning that Ethereum is not on this list. None of this is to say that Ethereum can not or will not survive a crash in the crypto-coins market. However, I wanted to put only three essential tokens, and ETH failed to be a part of them.
Do not let the possibility of a market crash driving you away from the criptomoedas will give you opportunities that you will not find anywhere else. And for me, it's wort it