THIS is why Altcoins are lagging behind... #ALTSzn

So we all ask ourselves this question, why the hell are all the altcoins dumping? I mean, just even today, we got quantum down 20, eels down 20%, ontology down, all in the red. And we also see Bitcoin rising again and again. And just a quick look on Twitter, we got institution money smacking down, smooching on that yummy, yummy BTC. Whilst your poor altcoins just sit in the corner, hold the umbrella. Poor guy. We also have major altcoiners like Ian Bellina. I think he's pure altcoinist. And he's saying he's going to become a Bitcoin maximist now. What? And lastly, this is my favorite. This got song got stuck in my head for the past week. This video is all going to be about that. Why are we riding to those all-time lows? The key reasons on why this market is very different this year relative to 2017 times when it's kind of crazy altcoin season. So I'm going to list the reasons out there. I'll also talk about my views. I think altcoins are not going to go to zero. Despite everyone just like freaking out. I think there's some really strong developments here. And I'll talk about what they are and what my personal strategy as well going forward. And as always, if you guys like content like this, make sure you like this video. Subscribe. Smash up that like button because that really helps this channel grow. And of course, everything covered here is my personal opinion, not financial advice. Let's get started. Let's get the number one reason, the elephant out of the room first, which are initial exchange offerings. So this year, initial exchange offerings have just completely replaced the initial coin offering, the ICO, as the main way for projects to raise money. Every exchange that is running seems to be doing an IEO right now and using their exchange coin as opposed to a smart contract coin. So it's no longer being money is no longer being raised on Ethereum or NEO or any other project. And that value is being passed from the ICO scene straight into exchanges. There's no longer that market, that huge market demand buy. I mean, back in 2018, when the ICO space was still hot, was a ridiculous need. You might need $100,000 worth of ETH just right now, tonight. And you had to market buy. And that caused a lot of FOMO for various smart contract platforms. So that's one of the key reasons why there's map value moving away. And it doesn't seem to be coming back anytime this year. So smart contract platforms, they have to rely on the projects delivering value. And that's a lot slower and a lot less FOMO driven. Reason number two, we got a lot of the newbies, the people who didn't know what's happening in the space. They've lost a lot of money and they've left the space. The Chinese describe the best and worst. They called noobs zhou cai. And they were harvesting zhou cai. They were basically culling the noobs and just harvesting their money. Because noobs in this space, especially people who don't know what's really happening, they're victims to kind of grand plans, grand visions, sexy projects names. Those kind of mattered a lot in 2018. But now we're kind of left with all the veterans. All those noobs, they've been burned. Their money's gone. And now the veterans are looking for a lot more deeper issues. And this is across the board. So in the conference scene, we don't see that many new faces. In also just the general discussion online, on Twitter, you just see a lot more experienced people asking deeper questions. Overall, that's actually good for the space to have really in-depth research. But at the same time, that means that a lot of the noobs that were driving up a lot of the prices for various altcoins, yeah, they're gone now. So, yeah. Next up, Facebook Libra. It's been making headlines a lot. And we in the crypto community know that it's not going to disrupt Bitcoin anytime this year because it is centralized. But at the same time, it does challenge a lot of the smart contract platforms and the objectives. I mean, bringing more than 2 billion users is a huge deal. And Facebook, they stated that Facebook Libra will support their own language called Facebook Move. And that's going to deal with the smart contract side. So it's going to have smart contract features. And Facebook has a reputation for, well, encouraging developers to develop on their platform. So in that sense, there's more competition now and there's more variety to choose from. And speaking of developers, we have a lot of actual development on smart contract platforms on these basis. But it's not directly causing a surge in value, either of gas or of the platform token. I mean, this year, we saw the launch of various decentralized exchanges on Ethereum. We saw VeChain. They're working with Walmart to make to track items. We saw TransGambling dApps. We saw EOS with millions of TPS. All of this is not directly attributing to FOMO on the platforms just yet. And the key reason here is that gas prices are so low. The dApp platforms are thinking, oh, if I make the cost of smart contracts very high or transaction costs very high, then I'll just lose all my developers to everyone else. So this is why all the dApp platforms, they're trying to compete with lower fees. And as a result, you don't see, even if there are millions of transactions, you don't directly see a huge burn of gas or platform tokens. All right. So those are my reasons. That's doom and gloom out of the way. So now are we hopeless? Does it sound like we're hopeless? Not at all. So what we're seeing now is even though there's competition, we saw big dApps and applications already being developed and underway. I think there's a key change in psychology this year. It's slowly picking up but not across with everywhere yet. Because before last year, we're talking about, oh, let's build dApps. And users, they don't even have to know it's a dApp. This year, what's going to happen is that we're going to see users be wowed by the fact that you can do certain things that you've never seen before. It was never possible. And I think that's the core psychology we got to do. This is what we got to show people. We got to show people that we can build censorship-resistant applications. This can be more and more important. As the trade war grows, we're going to see more government censorship. And having censorship resistance is really, really important. We also have a huge amount of centralization in the internet. Google, Facebook, Apple, they're dominating everything. And basically, by having a way to be resistant from censorship from these platforms and also to communicate between these platforms. I mean, if we can finally migrate our licenses from an Apple iPhone to an Android phone, dude, that's important. And I think this is the key factor. There's a key driving factor behind the push behind dApps. There are certain elements that are only available in dApps. And we got to highlight them. We also see DeFi, decentralized finance. And something that's going to be bringing along is the fact that we can essentially do transactions without banks. That's crazy powerful. We've seen the maker DAO coming into play. We're seeing other decentralized financial apps being built on top of each other. And it's slowly starting to get recognition. And I feel like this is one of the values that we can bring to the space by bringing multiple parties together that don't usually cooperate. And that's what we should be looking for. We're unique apps that can only be built in a decentralized trust system. And we're on our way to do so. So I definitely don't see the space going away soon. I definitely see that there is a need for this. And in fact, the fact that Facebook included smart contracts into Facebook Libra is telling that this is valuable. They see that this is extremely important. Just kind of very much similar to how JP Morgan coin said, okay, Bitcoin, you know what? That's really powerful. I'm going to copy that. Facebook pretty much said, you know what? We're going to copy this. So that's what I think is. And I don't think Facebook is going to take all of that traffic, all of everything. Because there's so much distrust in Facebook already. Yeah, we need something that's way more independent from that. And what I'm doing is a lot more in-depth research into place. And more importantly, asking deeper questions like why does this need a currency? And how does the economics work? And if you guys want more research about different coins and also what various projects are doing with a really good rundown, you can check out Symmetry. So this is a new program launched by Crypto Briefing. And it's meant to present a more academic type research into the cryptocurrency altcoin space. Now, for me personally, I find this is a very good discussion topic because they're also giving ratings to various coins, which is something I strongly object to. So something that I'm going to bring up in the next few videos is can we properly rate different coins and if this research is enough. But if you guys want a taster of this research, check it out in the link below. Tell me how it goes and your review on as well. I want to definitely open up this discussion on this channel. And in terms of trading, buying and selling, what I've told you guys is that I have a trading account for various coins. But more importantly, I use a strategic dollar cost average strategy. So for me, I'm dollar cost averaging all coins of the ones I do care about. And I'll give you a list more in the detail below. And of course, you should share your list with me as well. And for me, dollar cost average just makes a lot more sense because I don't want to pump and dump. I don't want to be part of that. I want to know what are the clear needs and what are the clear winners in the space. And that's why having a more strategic planned out strategy makes a lot more sense for me. And if you guys want to check out other people's adventures in the crypto space and to learn from their mistakes and their successes, check out this interview with King's Crown. So King's Crown, he's been in the crypto space since 2010, which is almost nine years ago. A hell of a long time. I asked him some really interesting questions about how he got into the space and also his take on all coins and what he's doing as well. So make sure you check that out on boxmining.com and I'll put a link down below. So those are my opinions. I'd love to hear what you think and what you're doing in this space as well. Leave a comment in the comment section below. And if you agree or disagree with some of my reasons too. And of course, if you guys like this video, make sure you like and subscribe to this channel. And of course, check out these videos here on the side. Well, guys, thank you guys so much for watching. See you next time.