Make Crypto Great Again through utilization.
"We could be in the midst of the extinction-level event for “cryptoassets” that many maximalists have predicted. 90%+ of CoinMarketCap list will disappear eventually might as well happen now,”
The above was tweeted by Xapo President Ted Rogers, he then points out to the upside of this crypto meltdown “Meantime, lower BTC price means incredible opportunity to buy more bitcoin.”
It seems as if the 90% extinction of altcoins has already begun in a sense that most of these altcoins have spiraled down to a loss of around 80%-90% since ATH.
Why is this happening if Crypto is such a great tool of financial liberty?
Well, new emerging technologies tend to form excessive hype in the short term, on the other hand in the long haul process of becoming a significant disruptive tech there is a tendency to undervalue the impact and ramifications of a breakthrough like Crypto. The journey of embracing the underlying advantages of the technology consists of a long and tedious road, it starts with a spark of utilization, with the right amount of attention to the factors of traction and the investment of both capital and contributors to the right data points that posses value.
To make crypto great again is to make it useful. It could happen by offering services and goods in exchange for it (even if 'liquidating' them to Fiat) or proposing to use Crypto when paying for freelancers or the random guy from Craigslist, making it appealing for newcomers.
"While most of you are in it for the tech" not everybody is that tech savvy to be amazed by Vitalik's consensus algorithm proposals and the honest ones who are in this space for the capital gains should stop to think how deep could the rabbit hole go without committing to pursue a better alternative economy. Future value doesn't just pop out of the blue, if this is a decentralized movement it is upon us to start utilizing crypto, making it valuable for 'nocoiners' without having to explain potential future value or the beauty of the tech.
So should 90% of altcoins get extinct? hmmm, it's a free market in which value is attained by community strength. It might just be that in order to achieve the required amount of community strength for true utilization, a major 'maximization' of the crypto community towards Bitcoin domination could be the right path forward.
Let us know what you think about making Crypto great again in the comments and be sure to catch us on Twitter @NeverFiat for some more NeverFiat gems ;-)