The Altcoin Evolution – Part IV: The Challenges – The Sales Pitch
With the ever-changing landscape of tech development and crypto innovation, regulation tends to lag behind in order to have time to react to what’s happening. Many altcoin projects are currently growing exponentially as they are exploring largely untouched use cases. As the tech continues to proliferate and expand, more and more “problems” are arising that require solutions. This obviously provides more space for viable contenders to occupy in a crowded market. This provides a robust growth argument for many altcoins, but there is a catch. The giant growth gains are fantastic, but....
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Last week we introduced ‘Altcoin Evolution’, NewsBTC’s latest series discussing the market-wide challenges that altcoins face in coming to market. We’ll take a look at a bird’s eye view of a number of different challenges that altcoins face in the general market, starting first with accessibility. Our framework in outlining these challenges will generally be presented from a U.S. consumers point of view, as some of the exchanges, projects, etc. may not be accessible yet globally – which speaks to the very nature of the topic at hand. We’ll also be looking at these processes....
In the last episode of “Altcoin Evolution”, we discussed hurdles that can prevent more casual crypto investors from acquiring some of the more obscure altcoins. Obviously, accessibility to investment is paramount to getting in the hands of consumers, and for projects to continue their own ‘evolution’. Despite continued market-wide shifts to make crypto more easily accessible, the road is still long and tumultuous. Another “crypto-winter” is never out of the question, and how broader society at large adapts to digital currencies is still yet to be determined. Still, the....
According to research done by the Digital Citizen’s Alliance, The shutdown of the Silk Road marketplace only temporarily reduced online drug sales. When the Silk Road was shutdown in October of 2013, it looked like a crushing blow against online drug-dealing. At the time, Silk Road accounted for more than 70% of the online drug market, giving users access to basically any illegal items, such ash drugs, weapons, and fake documents. Within months of the Silk Road’s closure, Silk Road 2.0 popped up and was subsequently busted. Two smaller sites — Evolution and Agora — then took up the slack....
The Bitcoin market this week has been volatile, shifting a total of $43.39 between this week’s peak of $293 and low of $250. We saw the market retest territory and for a little while it seemed like we would break $300, with volumes exceeding $50,000,000 at some points. The massive fall drop in the bitcoin price — amounting to approximately 15%– may be due to the fact that the Evolution drug market closed after a staffer alleged that admins had scammed its huge user base. Bigger than the original Silk Road or its descendant Silk Road 2, Evolution was able to amass 20,000 drug sales shortly....
Mainstream adoption for emerging altcoin projects is a constant topic within the crypto community that might be a conversation that exists in perpetuity. Most notably because the idea of “adoption” in crypto isn’t tangible or measurable. What does mainstream success look like, and how does it fit with crypto’s inherently decentralized nature? It’s a long road to travel for altcoins to find success in the current landscape. This new series will take a look at some of the primary hurdles that altcoins face today. Emerging Projects: Overcoming Challenges Throughout this....