Digital currency ‘values’ develop along a more or less predictable path in individuals, and it looks like they are developing in a comparable path among groups.
Here is the basic path as it involves the recent 2008 to today market.
1a) A person ‘discovers’ bitcoin and believes they have found something new
2) That person joins a pump crew that could be called ‘bitcoin is free money that makes you freer’
3) That person ‘discovers’ other coins that are superior to bitcoin
4) That person sells bitcoin and buys coins with a cheaper market cap which are superior
5) That person joins a pump crew for their respective new investments
Then, start from the beginning with groups, ETFs etc
1b) A person representing a corporate or government interest ‘discovers’ bitcoin and believes they have found something new
So at this point it looks like corporations and governments will unfortunately follow in the steps of their fiat and bitcoin pump crew forbears and ‘corner’ digital currencies one by one, then dump them as ‘the masses’ climb on their sinking ships, and they move on to a more profitable ‘currency’ as the masses are left holding worthless bags.
Obviously commodities are the final step in tangible assets, the last purchase of these now corporate pumpndump crews, but productive algorithm digital currencies, which don’t exist yet, will eventually be an asset parallel to commodities because they will produce scientific data, which is a ‘new’, and real commodity.
In the mean time, here are approximate rankings of digital currencies that exist and will exist, from 100, top ranked, to 0, bottom ranked.
Ranking from 10 to 100 / There are no currencies which exist today which will be in the top 90% of next generation digital currencies. These will all be productive algorithm digital currencies.
Ranking from 0 to 10 are all of the current and developing digital currencies.
From 1 to 9 are the turd coins of the future. They will all be superior to today’s coins, but not by a lot.
Ranking ‘sub 1’ or ‘0 to 0.9’ are all the coins that exist now. They are the frothy mix that accumulates in the pit under an outhouse after the bacteria have eaten the better stuff..
The best among these coins, ranking 0.1 to 1.0, are still in the planning phase, so here are the rankings of some popular coins that exist today.
0.000071 Any of various ‘human input mining’ coins which exist today. These are coins which are ‘mined’ by a person doing some work, rather than by a computer mining farm purchased by an aspiring emperor.
0.00007 Beenz was a digital currency started about 10 years before bitcoin, and anticipated the importance of human mining, though it was centralized. https://en.wikipedia.org/wiki/Beenz.com
0.000053 Gridcoin is a coin from roughly 2013 which is mined by a person lending their computer’s processing power to a scientific network. It is one of several coins that have elements which will eventually coalesce into ai network currencies. It is not available on any U.S. exchanges. https://coinmarketcap.com/currencies/gridcoin/
0.0000519 Numerai is a coin that produces nothing, but it provides a concept or framework which can be used in the future for coins which are productive. It’s ‘reason for being’ is simply feeding greed, hedge fund nonsense, but it can be adapted to other uses,
0.0000515 Geocoin is an interesting coin which could be fantastically popular, except that there is a vulnerability in its use as a currency, ‘geospoofing’, and the developers of the coin are obligated to spend more effort hiding this vulnerability from prospective users than they spend on actual developing.
0.000051 Bitgem was a coin from around 2013/2014 which let people modify specific coins. It was one of several coins which was made for entertainment but had features that will be useful in the future. If the public had favored coins like bitgem, huntercoin etc, which helped prepare regular people for a sophisticated economy, rather than coins like Ethereum which are simply designed to enrich coders, the crypto economy would be in a better position now, even if there weren’t billions in frothy dollars churning.
0.0000353 Linden dollars existed in a thriving alternative economy a few years before bitcoin. https://en.wikipedia.org/wiki/Second_Life
0.0000351 Egold started in the 1990s https://en.wikipedia.org/wiki/E-gold
0.0000317 Ven currency was created a year before bitcoin and with more practicality.
0.000031 Liberty Reserve was launched around 2001. Centralized but trusted by a lot of people until the U.S. shut it down https://en.wikipedia.org/wiki/Liberty_Reserve
0.000000195 Ethereum is an attempt by coders to perpetuate their dominance of the crypto space. It is an unproductive coin which uses the pretext of ‘monetizing other coins’ to monetize itself. It’s circular nonsense will spin in smaller and smaller circles until it either is repurposed as a productive coin or dwindles into crypto obscurity.
0.0000191 Bitcoin does nothing and has no qualities that might make it useful, except for the pumpndump aspect. It is like a dead horse that somebody is trying to run in the Kentucky Derby. By now it is so heavy with embalming fluid, and so covered with aromatic disinfectants, that it can barely pass as a horse. But a lot of money is riding on it so everybody pretends it is a racehorse.
0.0000000001 to 0.000017 These are the coins that will follow bitcoin in the next wave of pumps. Useless coins, but they can be a vehicle for anybody to use as money making investments which can be used to purchase things with intrinsic value, like food, housing, and so on. Greyscale looks like an early leader in this scam so prospective profit seekers could look at their coins to get an idea of which coins are going to be pumped next. They have more in bitcoin than is the market cap of any other fiat substitute coin except Ethereum. https://twitter.com/Grayscale/status/1344760425322323975 Watch ‘holdings per share’ vs ‘market price per share’. The trick is to figure out what they can get away with, what they know, and what they will do.