Wednesday, February 7th 2018
"Most Cryptocurrencies' Value Could Hit Zero", Warns Goldmann Sachs Analyst
Adding yet more tinder to the fire is usually the way for some players in the industry - and this isn't any different (one could even say this is exacerbated) by investment gurus and finance groups. Steve Strongin, Goldmann Sachs global head of investment research, said in a February 5th report that most digital currencies are unlikely to survive in their current form, and investors should prepare for coins to lose all their value as they're replaced by a small set of future competitors. Steve Strongin is particularly worried on account of "The high correlation between the different cryptocurrencies," adding that "because of the lack of intrinsic value, the currencies that don't survive will most likely trade to zero."
This is a trend that can usually be seen in the crypto market, as most alt-coins tend to follow Bitcoin's pricing trends, with their value being seemingly pegged to the current cryptocurrency king's value - and some might say credibility. There have been some instances of drifting pricing trends where some cryptocurrencies actually cease being pegged to bitcoin's value in their own valuation, but these events are usually few, far between, and tend to regress to their previous state.
According to Strongin, today's digital coins lack long-term staying power because of slow transaction times, security challenges and high maintenance costs. He further said that the introduction of regulated Bitcoin futures, which we've already covered here on TPU, hasn't addressed those concerns and he dismissed the idea of the advantage always being in the field of the pieces that make the first and more definite moves, comparing this cryptocurrency boom to the dot com bubble in the 1990's.
Source:
Bloomberg
This is a trend that can usually be seen in the crypto market, as most alt-coins tend to follow Bitcoin's pricing trends, with their value being seemingly pegged to the current cryptocurrency king's value - and some might say credibility. There have been some instances of drifting pricing trends where some cryptocurrencies actually cease being pegged to bitcoin's value in their own valuation, but these events are usually few, far between, and tend to regress to their previous state.
57 Comments on "Most Cryptocurrencies' Value Could Hit Zero", Warns Goldmann Sachs Analyst
www.cryptokitties.co/
:P
Those thinking any kind of fall or failure in those markets will suddenly translate into GPU's everywhere at old prices are mistaken.
That will take considerable time, even if there were a complete collapse of crypto, which I don't think there will be.
Buy used. Careful watching of eBay does produce some deals, much better than new GPU market. Also, like I said in another thread, those 970's, and 980's are able to play most current games even pretty well at 1920x1080. If you have them, keep them.
If anything, I think a long term shortage of high end GPU's ( and I consider $70-80% markup a shortage also), will actually serve to keep 1920x1080 the monitor standard for even longer.
Most inefficient way of earning money.
Actually 6/2016 originally the standard 1070 MSRP: $379 / Founders $449; and those were already inflated prices compared to the 970 ($330 15%) and being no competition. Then 10/2017 Nvidia dropped GTX 1070 to $329 and $399 for the Founders edition.
So at $550, that's like a 67% overcharge for a card that been around 18 months ... that's No Bueno!
Normally in the real-world at this point such a card would be like $280'ish with a rebate.
Just adding perspective.