Currency is a contract between holder of the currency and issuer of the currency. Legitimacy of the currency is directly dependent on legitimacy & status of the issuer.
Unless this legitimacy & status concerns are addressed, cryptocurrencies has no meaning.
Block chain is a technology just like printing. But no one is launching new paper currency although there are plenty of printing machines. On the other hand, anyone and almost everyone with understanding of block chain technology is launching cryptocurrency. This is the important flaw of current cryptocurrencies.
A very long and informative read
Sounds awfully like pyramid scheme. The name is funny enough. If somebody is naming their coin legit, probably it isn’t. After checking the site I am doubting whether your post is a troll.
The explanation video is nothing but fud with promises of return. 20 million coins sounds awfully similar to bitcoin number of coins. May be it is simple fork of bitcoin.
I hope the post is non serious.
An simple hack to verify the legitimate ICO.
Scroll down to distribution section and check if aggregate token allocation of team, founders, developers, foundation, advisors is >10%
If yes, simply leave it. For instance:
The team is benefited by 2 ways. Fraction of token allocation and the fund proceeds of ICO is also allocated to the team.
The whole goal for tokenisation is to create a decentralised ecosystem and keeping a large fraction of tokens simply makes it centralised.
I did a quick scroll through the thread and found out that no one has posted about the web browser ETH (ethereum) wallet called MetaMask which works with Chrome and Firefox. I found out about MetaMask today and it cements my belief that Ethereum is the most developed cryptocurrency today. Check out the Crypto Kitty game to see how it interacts with MetaMask:
There is a cryptocurrency called QTUM (Quantum) that is more advanced than ETH but its price action is not that of a popular coin.
An even more promising cryptocurrency called ADA (protocol is called Cardona) is out there and it is claiming to be bitcoin 3.0 with ethereum as bitcoin 2.0!
I’m not very aware of QTUM’s advantages except that it more advanced than ETH and further along in development than ADA. ADA has been designed to allow high level apps and games to interact securely with its blockchain and I’m not sure if QTUM allows these features!
ADA’s price action is that of a bitcoin clone today because it has so far only released a blockchain and wallet. Its computation layer which allows smart contracts is yet to be developed and the blockchain is currently centralized. ADA claims to be the first provably secure proof of stake based cryptocurrency and uses academic/scientific peer review to review its protocols. Proof stake does not require the amount of computation power that proof of work (mining) that bitcoin and similar proof of work based currencies require.
I eventually see myself buying ADA or a more advanced coin from my bank account and earning ADA in Steam games by helping or trading with other players.
Some links about Cardano/ADA:
Beginner’s guide to Cardano:
Cardano Documentation:
First video introducing Cardano:
Blockchain Academy in Kerala, India:
http://www.iiitmk.ac.in/kba/
I think that it’s far too early to see how cryptocurrencies would affect daily lives but it is not too early to start studying cryptocurrency potential especially when it comes to smart contracts.
Hi guys
Now I notice that there is no more talk of cryptos at coffee breaks and lunch tables in office 
Rgds
Crypto currencies are having their dot-com moment. It’s a good thing. I expect blockchain/smart contracts to survive and make it big in about a decade the same way e-commerce did post dotcom.
I’m investing in ADA and QTUM.
The problem with QTUM is that the developers don’t have the expertise to develop development tools so third parties are stepping in to provide tools such as qweb3 which is QTUM’s version of ETH’s web3 javascript library which is used to speed up Dapp development.
ETH is most likely to grow as a platform in the short term but there are already cases where the platform doesn’t have the bandwidth to accommodate everyday use which is where ADA claims to provide a solution. Some people say NEO is the future but current prices make it too expensive to produce a live dapp for the average programmer.
We can’t compare it to dotcom moment.
Internet bubble peaked 20 trillion before bursting. Crypto market is below half trillion. Long way to go.
The internet bubble was mostly concentrated to the United States whereas crypto coins are decentralised globally.
Institutional investors first pumped the dotcom bubble then retail. In cryptos, retail investor entered first and then institutional investors are diversifying the fractions of their portfolio.
The bubble is going to be much bigger than 20 trillion.
Remember, And if you are still playing this game of musical chairs do keep one eye on the door. You never know when the gatekeeper might sound out the fire alarm (Basant Maheshwari).
bitcoin is rising again for last few days, but looks like people have lost interest now.
BTC got pumped to USD 10,000/BTC a short while ago and then dropped. It looks like a pump since not all cryptocurrencies that were linked to btc’s price rises were rising in tandem with btc. ETH and QTUM had risen but ADA did not.
The coins and tokens with the lambo/moon followers may have risen with this last pump but the less popular currencies did not rise.
Wrote this few days back. Hope you might like it.
Telegram ICO Destined to Break Records with $850 Million Raised in Pre-Sale:
https://oracletimes.com/telegram-ico-destined-to-break-records-with-850-million-raised-in-pre-sale/
Disc: haven’t bought / sold any Cypto.
@Sowmay - Gold has no intrinsic value but it has acceptance worldwide and it takes tangible effort to mine. So the key difference is “acceptance”. Gold has gone through centuries of human evolution and it is now perhaps in our genetic code to see value in Gold via natural selection.
The amount of deposits of Gold available on the planet weren’t determined by a human-being like is the case for cryptos and that adds more to its perceived value.
Other metals like Silver, Bronze or Platinum are valued based on their availability and acceptance and there are only handful of precious metals and no new precious metals are going to be discovered for we live on a finite planet. Problem with cryptos is anyone can set one up and every single one of them is lacking when it comes to “acceptance”.
Now coming to Diamond, I am sure you know how the diamond cartel works. If not, I suggest you go through this article - Have you ever tried to sell a Diamond
So the skepticism that equity investors Buffet/Bakshi et al. have towards cryptos is not misplaced, it is coming from decades of experience seeings fads and ponzi schemes come and go.
Now coming to the problem of acceptance for cryptos, I think they will find acceptance if they are backed by a major govt. or bank. That’s the unfortunate irony of it but that’s what it will take to get wider acceptance. I am quite hopeful for blockchain technology though.
