Pretty sure most cryptocurrencies are overvalued…. Duh.

I have been looking at the crypto market these last few days which led me to the Weiss cryptocurrency report. Anyone that reads my blog knows that im not a fan of a fair number of cryptos. Most of them arent really STEEM competitors but i have a dislike for them due to numerous reasons.
As you can suspect STEEM is listed really high in most of the crypto rankings. (B- on Weiss).
While i agree that STEEM should be high on the list i dont agree with some of the other ratings, but thats not here nor there.

As time goes by, im starting to notice more and more the importance of measuring actual crypto performance in the world.
If you just glance at the Coinmarketcap page and the top tokens in market cap, and check them out, you will realize that most of them have really poor adoption. There are even those used by barely a hundred or so people daily. Dont even need to talk about those with no working product whatsoever.
What about the hundreds of “transaction tokens” or “Privacy coins”? Do we really need Dash, LTC, BCH, BCSV, MONERO, DOGECOIN, DOGECOIN DARK (called VERGE now), BITCOIN GOLD, ZCASH…
I personally dont give a crap if my transactions are private.

I care more about keeping my browser history private then my transactions and account balance.

Vitalik Buterin – 2017.

Some might care, which is fine, but do we need a 100 of these tokens that do essentially the exact same thing? I mean we arent talking here Dapp building platforms where individual blockchain characteristics are hugely important.
I dont care if i can send a private transaction with DASH 13.3 seconds faster then with, i dunno, MONERO. Makes 0 difference to me….
Which begs the question as to why arent we seeing most of these coins falling away into obscurity?

I say Drugs. No other explanation. haha. 😀

Ill see you around.

About the author: lordbutterfly
Im a Steem and Whaleshares blogger that writes about crypto and everyday stuff.

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