Emergency Coin Market Update| Telegram Talk
This article is an edited, shortened transcript of the above video featuring Synth; the message of the content hasn’t been altered.
This is an emergency coin market update…
I have a friend and he does development work for 10–12 different projects that did ICOs. Almost all of his clients are broke!
They’re firing all their staff or shutting down or can’t pay their bills.
We’re going to see a market slaughterhouse!
Coins that had 1 billion dollar market caps are going to collapse to nothing when people realize the whole staff was fired and there’s nothing there anymore.
We’re not going to see the emergence of any new platforms going into the next bubble. Only companies that already exist and have been around for 3+ years developing a platform, scripting language and infrastructure.
There are a few platforms that I thought were really strong, technologically very strong with a lot of developers. Even those are going to go under because they overpaid their developers and had their ICO on Ethereum when it was $1,400 then failed to withdraw any.
So they raised 140 million dollars and now the company has ten million dollars. Lots of these companies are panic selling their Ethereum to get out before it goes down further so they can stay afloat for a few more months.
During this market crash, all Skycoin has to do is keep developing CX, our software and hardware projects. If we can do this along with continuing our marketing efforts we will naturally rise as one of the top projects in the space as you see 50–80% of the current projects die off.
I’m still waiting for one of these huge coins like NEO, IOTA or Cardano… to go under. We’re moving into the third stage of blockchain and most of the coins are irrelevant in this third stage… they’ll probably just die off!”
Skycoin is doing fine, we have revenue from hardware sales and customers. We’re going to get software licensing revenue and pretty soon we’ll have Skywire VPN revenue; then eventually Skywire telecom revenue.
I just talked to a company and they said: “we have 350 billion dollars of airliner point assets and want to put them on blockchain.” You’re going to see hundreds of billions of dollars worth of assets being moved onto the blockchain becoming tradable.
In the next 3–5 years we are going to see actual real-world use-cases of blockchain technology. Very few of the blockchain platforms are actually in a position to capture the benefit of these companies coming into the blockchain industry.
Malta Blockchain Summit was great!
We have a feature coming up in Forbes magazine there’s an episode of a YouTube show with like twenty thousand views on per episode (and growing quickly) that’s going to be featuring Skycoin. I think we have a McAfee partnership, we’re still figuring out what we’re gonna do together.
We also got a booth at the World Economic Forum at Davos if we want it which is great! we could have a four thousand meter event space during the World Economic Forum where we can do hackathons and things for CX and I think there’s like three Skycoin video interviews recorded during the conference that should be published soon.
There’s gonna be six real coins in the in the blockchain space…
Six platforms or contenders and they’re gonna fight each other to determine who’ll become the next Google… It’s just gonna be a war between a few at larger coins that have infrastructure over who’s gonna dominate the blockchain technology.
I think to get to a billion dollars or to climb the rankings… We need to get a bit more media coverage, do some more conferences, we need to release the full platform, Skywire main-net, get some hackathons going, get the antennas on the roof, release the hardware and get listed on the four big exchanges left. We have about half of them locked down now, then we’ll be on all the major exchanges.
I basically think that every single coin on the market is a shitcoin, including Bitcoin! That’s why we created Skycoin.
Certain things don’t make any sense; like mining!?
Why would you pay someone $120,000 a block… Just to shove a bunch of transactions into an array, it’s just it’s retarded! It makes the cost of operating the network in the billions and encourages miner corruption. It’s already happened, miners were stuffing the blocks with transactions with fees paid to themselves to force the other people to pay more money to get their transaction into the block!
Bitcoin is really a social experiment that’s not going to work.
The Chinese government is doing a lot of blockchain pilots.
Banks and even governments are contacting us saying they want to launch on our Fiber. They need a blockchain platform with infrastructure in place.
They need a hardware wallet, desktop wallet, mobile wallet etc…
We have that and can provide it to them!
We are looking at whole countries putting their currency onto blockchain using a platform. I want to say that there are other platforms that could offer them what Skycoin does but there just isn’t. I’m actually not even aware of any companies that have customers in this space.
Countries have tried launch ‘tethers’ on other platforms; Venezuela coin launched and they did an ERC20, and it just died! It’s completely useless, had no liquidity and couldn’t get listed on an exchange. Ethereum can’t scale to meet the requirements for a paired currency tether.
When we do these coins we have to come in with our own infrastructure, they want their own exchanges, wallets to go along with the blockchain technology. No other platforms offer this.
Skycoin is the only choice!
This is around a third of the amazing content Synth talked about in the video.
Check out the full version here: https://www.youtube.com/watch?v=KG9HnsAG5V0