
Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says - shahryc
https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says
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cipherpro
I've been thinking a bit on this idea - the idea of a cryptocurrency, this
network of value going down to zero and if its even possible. I have one
example: Bitconnect.
[https://coinmarketcap.com/currencies/bitconnect/](https://coinmarketcap.com/currencies/bitconnect/)

This currency us a classic scam. They listed a 1% guaranteed daily interest on
investment. Every notable and rationale person can take a look at bitconnect's
offering and can see it's a scam/ponzi, or at least, something that's too good
to be true. The price peaked $400+ with a market cap of over 2 billion.

After regulatory intervention, the price dropped off a cliff. Of all the
tokens to go to zero, one should expect an exposed scam token to be there. But
that didn't happen. It dipped all the way down to around $8 and started
recovering. During the current dip in crypto market prices, bitconnect is
still sitting at 2.63 with over 24million in market cap.

Why is this scam token not at zero? There's something interesting at play
here. Factors may include the reporting of market data, the markets themselves
exchanging this token, and token hodlers who will not sell.

I wonder if there are other factors that's novel to crypto technology.
Possibly something associated with the network effect of these crypto tokens,
the proliferation and effects of memes, or the natural of decentralization.

It may simply be that something like this take time to go to zero. In any
cases, it seems to be quite interesting the market dynamics of these tokens.

