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Author : Crypto Income Staff 9 September 2017
Do Not Underestimate the Potential of Initial Cryptocurrency Offerings. There is another great similarity between ICOs and the IPO-based dot.com bubble of the turn of the century. The similarity is the vast potential of the underlying technology which is poorly understood, terribly underestimated and tremendously overhyped. Many people turned their backs on dot.com and internet stocks because of the silly hype about them in 1999 and 2000. They dumped those stocks because the instant millions and vast markets they were promised did not appear. News stories focusing on over-promoted issues such as Pets.com and Webvan made the situation far worse. This is why a great many investors stayed away from both Google and Facebook when they entered the market. It is also why ecommerce stocks such as Amazon have been such a hard sale. Never let early or over-optimistic hype stop you from seeing the potential of an investment. A few of the ICOs out there have the potential to make a lot of money at some point in the future. SOME ICOS THAT MIGHT MAKE A LOT OF MONEY. There are some ICOs with a lot of potential to generate vast amounts of profits out there.
The most promising are in the finance field, particularly those that plan to issue credit cards, debit cards, mobile wallets and bank accounts that convert cryptocurrencies into government-issued paper money. The market for these products is vast because of the number of cards on the market. There were 751 million MasterCard debit cards in circulation outside the United States in June 2017, Statista reported. The same figures indicate that there were 1.334 billion in all kinds of MasterCard products circulating outside the United States. Those cards processed $14.5 billion in transactions during the third quarter (July, August, and September) of 2016. Visa’s network was even more impressive than MasterCard’s. There were 3.1 billion Visa cards in existence on December 31, 2016. Visa cards were accepted at 16,600 financial institutions, 2.6 million ATMs and 44 million businesses around the globe in September 2016, data from Visa at http://marketmadhouse.com/visa-best-value-finance/ indicates. That led to 141 billion Visa transactions during the year of 2016. Those transactions were worth an estimated $8.9 trillion and Visa reported a payment volume of $6.3 trillion for 2016.
If companies like Centra, TenX, Change Bank, Shakepay, and Uquid can capture just a tiny percentage of that business they can generate vast amounts of cash. This is why giant companies including PayPal are investing in startups like TenX. Other ICOs that might be worth a lot of money are those targeting specific industries such as gaming, sports betting (UnicoinGold), restaurants, and ride hailing. Ethereum-based ICOs will be among the most lucrative because of the finance industry’s well-documented interest in that digital payment platform. Another potential group of moneymakers will be altcoins connected to products or services. This might include a cryptocurrency for ride-hailing (think of it as Uber Coin), videos, games or airline tickets. The currency might only pay out in a service or product rather than in fiat cash. For example, a Netflix coin that pays out in videos rather than dollars. Such solutions are possible because cryptocurrencies are a store of value. Anything of value can potentially be stored in them. Some cryptocurrency platforms including Ethereum, WAVES, and NEO are specifically designed to store information in addition to value, so they can be used purposes such as insurance policies or contracts.
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