Just because more people shit in a corner, the corner doesn't get more of value. ; -)
Hahahah.. thats an awesome metaphor to use..
But in all seriousness, nothing lasts forever my friend.
The greeks never thought their empire would crash.
The mongols never thought they will be reduced to their original territory after they had tasted unlimited gold of the world.
The British never thought they will have to give up their colonies..
Everything that you see now is tethered to USD, which didnt even exist 300 years ago..
Before facebook, we used to think that Orkut was the ultimate social media site and now it is in dust
So i believe cryptos will burst too and will be replaced by something else..
Now the real question is that how long will it take? One year or a thousand years?
I tend to believe that it will stay for another 30 years or so.. (at least), which is long enough for our generation to get the most out of it
Thanks for these special history examples and for your opinion regarding the future.
Best regards.
These are some nice comparisons my friend!
We are living in a very fast living time and I think the changes and developments will be even fast in the future.
The ones who can adjust to this movements will survive in society.
If you look how long something the radio (something completely new) did take to get 1 million users and compare it to the internet or the blockchain, you can see that new technologies become more popular faster and faster.
The blockchain has not really arrived yet and there is already coming the tangle technology by IOTA which perhaps will relieve the blockchain tech? Who knows..
You have to go with the time otherwise you go with time - think about it :-P
Great article and excelent comments by jbn, I only want to share with you some interesting facts to take in account.
The main idea to develop the criptocurrency concept, is to build a new mechanism (in this case throught an asset) for change all our actual economic system, because this is a old system, unsafety, with too much burocracy, corruption and problems.... in fact this topic reborn with the scandal of Madoff in Wall Street, on December 2008, perhaps it's a too ambicious idea, but it's the main idea, If today we have a bubble by several speculator who want buy cheap and sell expensive, this is real, but remember the dot com bubble... nowadays, Internet still alive and the e-commerce market is bigger. In my opinion, this is a temporal situation and will be regularized as soon the use of criptocurrencies could be feasible and practical for ordinary people.
I am agree with you when you said that "Most currencies are not yet in actual use, so it is speculation that these projects will prevail", but inclusive the situation is worst, remeber two things
1.- Not all this criptocurrencies are developed to be used in projects... If you want replace the USD with BTC, this change could take years figthing against the stablisment, against the status quo, but beyond that, fighting against our fear as simple citizen, this movement must be builded based on massive trust in BTC and the transition must be step by step to reduce collateral damages (in my opinion)....
2.- The ICO (Initial Coin Offering) as a fundraising option, today we are living in another bubble, the ICO Bubble, I can understand that today is difficult obtain pre seed capital, seed capital, etc... and perhaps we were unfortunately witness of the dead of great projects, and good ideas because of some bank, venture capital, or entrepreuner guru who cut the funds if not see inmediatly earnings or simple sell the startup, the same speculation mind...buy cheap and sell expensive as soon as possible... but this not justify, a massively movement to the other extreme, and now you can see thousands of people, new investor and experienced, gurus and ludopaths, traders and bankers, all playing the same game, all beting on ICOs without the minimun support...
What's going on??? from one extreme to other, look into Fiverr with "ICO Whitepaper" as subject.... People writing ICO WP from USD 50 based in the number of words???? what's going on??? the ICO KPI is based on kilograms of paper???
Friends, in conclusion, I love technology, I believe in technology as a tool to improve our lives, but certainly some days I don't undestand people.... this bubbles are made by experts, gurus, companies and ordinary people in the last place.... and where is the common sense??
seeya criptofriends....
link to fiver ICO
(https://www.fiverr.com/search/gigs?utf8=%E2%9C%93&locale=en&query=ico&search_in=category&category=5&sub_category=169&afp=115076X1574194X0e2a7b2887ff6fe4092e619539d82e67&utm_campaign=78888&awc=6288_1513279323_b55a7e9845048ff1a7f620468e065465)