
Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says - rayuela
https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says
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throwaway76025
Propaganda like this is often useful as a short term contrarian trading
signal. This isn’t new news but is inauspiciously timed.

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thebigspacefuck
Just want to let everyone know that dogpile.com is still a thing and you can
still "fetch" to your hearts content. They're poised to make a comeback any
day now.

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aje403
Now partnered with Dogecoin. Here we go, Web3.0. Invest now! To the moon!

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SippinLean
Right now Coinmarketcap lists 1500+ cryptocurrencies. This article says many
of them will fail in the future, as many have in the past. This is not
revelatory.

I would have been interested in Strongin's opinion on which coins will
survive, and why; or a timeline of when "most" will have failed.

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arcaster
This seems likely for Bitcoin and its derivatives (LiteCoin and any other
platforms that don’t plan to move away from Proof of Work or have no real
utility).

However, I don’t see any long term risk with ETH or Monero. Hopefully this
teaches clueless investors how much hype and not accounting for exposure can
hurt...

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vfulco
It was a great ride while it lasted. And financial historians and those who
lived through internet bubble 1.0 and 2.0 knew how to play it. Pays to have
some grey hair

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mythrwy
No doubt they are right considering:

1) There are what? over a thousand different coins at the moment (i.e. "most"
will probably go to zero).

2) I didn't see a timescale mentioned.

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newyankee
I agree that this is one of the winner take it all markets, but i think the
title makes it seem more dire than it is. Wonder other than BTC, ETH which are
the players that will survive

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arcaster
ETH will surely survive in some capacity since nearly all “tokenized” assets
are built on top of ETH.

However, I don’t think the picture is nearly as rosy for bitcoin. Hopefully
this market event (yes, not a correction) will cull some of the less informed
to actually learn something, more so that crypto is incredibly risky.

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bfuller
All currencies hit zero eventually

