Re: BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open
not really. If you can list 10 coins that are one year old I'll be impressed.
Here's 35 for you
http://web.archive.org/web/20131120104851/http://coinmarketcap.com/ok, I accept your general point though - the market is still young. Today's top 20 possibly have more longevity than the ones in that list.
But as the market gets ever more crowded it becomes increasingly important to understand the exact nature of what you're buying into. Lots of coins have things in common but one thing that is a consistent pattern is that genuine originals do prevail. Look at the top 10 market cap - they're all originals in some respect or another and have held their positions for quite some time. (Despite even that fact, they've all gone through the x10 pump and back down to 20% all-time-high rights of passage phase).
I invested in Bitbay because it had hints of that uniqueness. But its originality is still quite opaque. Technologically it has some new features, a few of which it nicked from Nubits, others planned that are appear to be specific implementations of the smart contracts paradigm aimed at a particular market sector - online auctioning. As a pure technology though I don't really see what stands out but as a package delivered with ready made markets I do see how it could be compelling. Unfortunately it's the "ready made markets" bit which are the most opaque aspect of the package which is why I've been probing in that direction.
Over crowd is the issue in short term but once experiment phase is over you'll be left with few coins which will be used online/offline etc. It'll take time and there will be new tech every year but once people stop creating new altcoin then all you've left are the ones that have already been created. Only few would rise.
For example..In 10 years from now utility company might say "We accept DRK, Bay, BTC & nameofyourcoin."
that's exactly how it is right now. "We accept credit card, cheque or money order" all that is needed to be done is add few more payment options and as more and more companies/people start accepting it further it'll go. The only reason people don't want to use crypto/btc right now is because they're so used to old "fiat" because that's how everything has been done since the beginning. It'll require new generation who'll adapt crypto instead of fiat and then it'll be passed to their generation to their generation..so on & so forth.
and in 60 years from today crypto will be the normal payment method for anything you buy online. Everything will move from offline to online in years from today and that's why something like Bay has so much potential to be "one of the payment method" and that'll automatically bring the price to moon & beyond.