@guyinpv said in Crypto Predictions:
My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know.
I stopped reading after you said your knowledge of crypto was 10 years outdated and when you said doggcoin.