A Mysterious World of Alt-Coins
A broad view at the large selection of digital assets available on the market.
Before diving into the actual analysis of the cryptocurrency market and its effects on the global economy we want to introduce readers to how Mr.Rad foresees our future. This will give the reader a sci-fi themed concept where the very world we live in is encapsulated in technology that is engrained in the nature of DNA. By the time we have reached that point in the technological revolution (vis-à-vis the ‘ Industrial revolution’)coins/tokens and digital assets will have become just another convenient standard humans have adapted for a more efficient lifestyle. No , Mr.Rad does not perceive this from a dystopian point of view, but as a advocate for the furtherment of technology to make our lives not only easier but possibly healthier. Now we will not go off into the major changes and benefits that could take place during this unprecedented growth, we hope that you can take this new found perspective and apply it to the general topic around alt-coins. Digital assets will be apart of our everyday lives , it matters which coins/tokens on the market the people hold and how they will be able to use them. So lets dive into this ‘Mysterious world of Alt Coins’.
World of Alts
There are more than 4,000 coins/ tokens on the market. If you discovered 10 new alt coins everyday it would still take over a year to accumulate a list about every single coin and token available, not including what is to be released in the near future. The amount of tokens has become such a controversy that centralized exchanges like Coinbase have began ‘learn to earn’ programs that incentive learning about the protocols they offer on their exchange. Coinbase has paid out as much as a hundred million dollars since they have began this initiative. With over 90 coins and 277 trading pairs just Coinbase alone has more coins than one can learn in a week, imagine including decentralized platforms and the projects yet to be released.
The entirety of the cryptocurrency market cap is so large that it can replace the 8th,9th, and 10th largest countries in terms of nominal gross domestic product (we do not mind entertaining the idea of an entire country in which the citizens only transact using cryptocurrency). Surpassing 2 trillion dollars this year the crypto market is leaving behind generations of legacy financial systems that have impoverished empires leaving them to only be known as relics in history , moments of great human triumph followed by epic debacles enticed by the same entities that upheld the structures nations depended on. Blockchain can fix this, applied correctly distributed ledger technology can be applied in just about any industry and have a profoundly positive impact on business scalability.
The ‘Mysterious World of Alt-Coins’ empowers people to demonstrate there esteem for which ever monetary policy they believe aligns with their everyday life. Escaping the subjection of sovereign monetary policy will allow for those who could not access certain products through the reach of their native currency to now have a greater ambit that can benefit quality of life. China was first to show a genuine negative response to the effects of distributed ledger technologies as the blockchains came to life and quickly engulfed their nation. During the Spring of 2021 more than 70% of the Bitcoin mining took place in China, the communist nation felt the weight of the Bitcoin miners on their power grids in northwest China. All at the same time (although this was not covered in the mainstream media) it can be assumed money was flowing out of the Chinese economy and onto a blockchain they did not have any true reversible control over. In our opinion this prompted communist China to take immediate action as they realized the stipulating effects of a open source coin that belonged to no one sovereignty. Seeing even the large communist nation China did not want to deal with the effects of cryptocurrency on its economy , us as participants and outsiders looking in can assume cryptocurrency returns some form of control to the participators. Enough control that China wanted no part of it and is in response creating their own CBDC that will be pegged to the Yuan. With this digital Yuan China has exclusionary control of their economy, this will have effects on the global economy as this CBDC makes its way around the world and other nations beginning to use it to do business with or within China. China will have inflationary , deflationary , and all out right control over this currency, giving them power to monitor all transactions taking place in their economy. This creates a firewall around this Yuan as China seeks to raise its stake in nominal global domestic product by forcing out contenders, in turn refashion their currency into the reserve policy of the world.
The Unbanked
Knowing the immense power of expressing value for monetary policies outside of your government makes it easier to understand why it is important to know which altcoins are on the market, their utility, and what's worth purchasing and holding. This is not saying that the coin market does not have positive effects on economies, not true, the type of effects it has on economies are not the effects a totalitarian nation state wants to deal with. Slowly replacing the standard exchange of fiat coins/tokens are becoming very attractive as a solution for the 1.7 billion people that are unbanked. These 1.7 billion people (considering they are all on boarded) will have never got to experience their money being leveraged by a bank and only receiving the minimal amount of interest on their holdings. Bank approved loans are fossils that will be neatly packed away in a museum broom closet as community financed loans become a reality through staking coins/tokens. For the thriving freedom based economic practices (freedom based but levied) that take place in nation states like America or France a thriving digital asset market will have substantially worthwhile effects that policy makers will seek to understand so that they are apart of the growing sector.
DeXs & DeFi
Decentralization is the driving force behind a majority of the protocols. Not all protocols are decentralized in terms of miners, validators , token supply distribution , but decentralization still wraps itself around the even the most centralized protocols and exchanges. Market liquidity is spread across the plethora of protocols and exchanges that host the coins/tokens. Technically money that has reached the crypto market does not flow through a set of banks or medians of exchange like legacy financial systems in America , or Europe , compare the centralization of the stock market and its operators to a cryptocurrency exchange (centralized and or decentralized). With the stock market you get a list of securities that are subject to regulatory halts when the security performs positively or negatively too quickly. The crypto market is open 24/7 and there is no one entity that can manipulate the trading that is taking place across the market. Centralized exchanges have the opportunity to restrict trading but more than likely will face legal repercussions. Worst come to worse if that were to happen there is always decentralized exchanges and non custodial exchanges that return control to the participants. This is where no single entity middle mans exchanges it is smart contracts that facilitate the trades.
As we elaborate, there is a yearning it becomes simpler to comprehend how utilizing and owning coins/tokens will have influence in ones life. What we would like is for readers to build their own scale using the newfound knowledge and the theory that digital assets will be another standard convenience adapted for the furtherment of society. Which coins position themselves in such a way you see being useful not to yourself but others around you and how does it relate to what you believe to be right and just. Of course its worth mentioning calculating the unique properties such as token supply and market to compare to one another but project success is not always determined by its market cap or supply. Be diligent in this ever lasting search for the alt coins that will survive this current market and make it to the next decade. With every action there is a reaction, your choices affect others in the market in regards to liquidity by all technicalities.
Hope you enjoyed , this article is apart of the introduction to our newest series to hit our YouTube channel.
Check it out below !
“Survival of the Alt Coins”
Introduction to new YouTube Series “Survival of the Alt-Coins”. “Alt-Coins” can be defined as any coin after the genesis block. The blockchain community is still very sensitive when it comes to applying semantics but we all must be on a similar frequency because we have an understanding of what “Alt-Coins” are. This series will use a community developed process that weighs the coins based on their unique properties, utility, and design. The viewers and community members will take a poll of which of the 3 cryptos they think will have the best week in regards to performance on the weekly chart. Whichever coin has the best performance at the end of the week will be used to be given away to a random user who participated in the voting. To keep things interesting we will also be giving away the token that was most selected to have the highest percentage. Meaning if ADA was chosen to have the highest turnout this week and it happened to be ETH that rose 10% and ADA only 5th we will give away some ETH as well. If the most selected token is the token that gained the most during that week there will be two participants selected instead of one. 3 coins are selected for this curating process. They will be weighed quickly side by side as an introduction to them in the “Survival of the Alt-Coins” series and each token chosen will get a full depth analysis on the “Money Maker Token Talk” !! So if users just want to be introduced to a protocol, see how it scales against others and keep track of its weekly performance “Survival of the Alt-Coins” is great for beginners and experts. Filtering the 3 selected tokens through the “Money Maker Token Talk” will allow those looking for a more intrusive analysis to gain a greater understanding of the Distributed ledger tech behind the crypto. Money Makers is a growing community of traders , investors, developers, artists , business owners, gamers and influencers that all share a similar trait of being a Money Maker. This is the beginning of what is to come for this channel , expect more playlists with a wide pool of content for all types of viewers . STAY TUNED !
Mr.Rad
