If you are an ordinary cryptomaniac, you own some Bitcoin, maybe trade Ethereum a little bit, and buy Litecoin once in a while to make a quick buck.
Also, you think that there are a ton of cryptocurrencies listed on exchanges, that are just plain garbage. First of all, there are so many coins that offer the exact same thing: monetary transactions. Bitcoin fans will say this is the gold standard for online transactions. Bitcoin cash fanatics will suggest that that is the real bitcoin and a lot cheaper to use than Bitcoin core. Ethereum people will say that this is the only coin that allows for smart contracts, and it’s the foundation for gazillions of other coins. Then come coins such as Litecoin and some other environmental friendly coins. These all have different bells and whistles, but achieve the same thing: monetary transactions from person A to person B in a faster and more secure way (compared to using a credit card and fiat in general.)
So we are talking about currencies. The same way we talk about USD or Euro. Well…if there is going to be THE coin for online transactions, is there really space for all these different cryptocurrencies? I think not…
At the same time though, there are certain coins that although are called “cryptocurrencies” don’t really act as a currency on a mass scale. The best example that comes to mind is the Rentberry company which will be issuing BERRY tokens used for home rental transactions. Did you notice I said home rental and not just general transactions? That’s right…it’s a platform that allows for people only looking to rent an apartment, pay their monthly rent and pay utility bills.
Some other companies that come to mind, specialize in the grocery shopping industry and food preparation markets. Personally, I like coins that actually solve a daily problem, and aren’t just another vehicle for monetary transfers. I think the world has seen enough crypto coins (in the actual sense of it) and there will be a shake up with a lot of the secondary ones losing tremendous value, and making for great losses for traders.
Be diligent, be careful!
Your friend in business,
Tony
