Been writing a few long articles lately but the tl;dr of it is that now that interest rates are going up, the asset speculation market (real estate, stocks, venture capital, crypto/NFTs) is largely over and money will start to flow into financial products that provide more "reliable" returns - mainly interest rates.
Given that the banks are dragging its feet in terms of giving people interest in their savings accounts, coins that offer reliable staking rewards will probably start to gain more attention as time goes on.
I've been promoting the coin Tezos quite a bit lately since it's the coin that I feel like has the biggest long-term promise. They currently offer:
1) staking rewards (4.63% on Coinbase but higher if you stake them yourself)
2) on-chain governance (which most don't have, including Bitcoin and Ethereum)
3) people building/minting lots of things on top of it all the time, despite the dips in the market right now
You probably remember me stanning for ETH since that's how I got my first successes is crypto, but to be honest they may be in trouble longer term if they don't do their merge sooner than later - gas fees are one thing but their decision to stick to off-chain governance models (basically trusting its users to make decisions behind closed doors) has been causing major issues in some projects, especially in DAOs. (Look up Brantley and ENS for an example of what happens with coin-based voting systems.)
Whether I give up on ETH completely (I did sell off a pretty big chunk of it recently) will largely depend on how the Consensys merge goes this August and if they move towards or away from the ideals that they're advocating for all the time. They have a lot of catching up to do because #XTZ right now has all of the things they like to talk about already running.
For the average person out there, what they're going to see is banks and crypto competing against each other in something that more people can understand: interest rates. Right now crypto is winning since they have the capacity to offer people better rates than the banks are - and can definitely win if they play their cards right. NFTs are still confusing for most people but one number being higher than another number is something that almost anyone can understand. You might even argue that this is the first time crypto is competing against the banks in a very direct way.
The markets might look scary right now but once it settles down we'll start to see new patterns emerge with new ideas and products taking the scene.
Given that the banks are dragging its feet in terms of giving people interest in their savings accounts, coins that offer reliable staking rewards will probably start to gain more attention as time goes on.
I've been promoting the coin Tezos quite a bit lately since it's the coin that I feel like has the biggest long-term promise. They currently offer:
1) staking rewards (4.63% on Coinbase but higher if you stake them yourself)
2) on-chain governance (which most don't have, including Bitcoin and Ethereum)
3) people building/minting lots of things on top of it all the time, despite the dips in the market right now
You probably remember me stanning for ETH since that's how I got my first successes is crypto, but to be honest they may be in trouble longer term if they don't do their merge sooner than later - gas fees are one thing but their decision to stick to off-chain governance models (basically trusting its users to make decisions behind closed doors) has been causing major issues in some projects, especially in DAOs. (Look up Brantley and ENS for an example of what happens with coin-based voting systems.)
Whether I give up on ETH completely (I did sell off a pretty big chunk of it recently) will largely depend on how the Consensys merge goes this August and if they move towards or away from the ideals that they're advocating for all the time. They have a lot of catching up to do because #XTZ right now has all of the things they like to talk about already running.
For the average person out there, what they're going to see is banks and crypto competing against each other in something that more people can understand: interest rates. Right now crypto is winning since they have the capacity to offer people better rates than the banks are - and can definitely win if they play their cards right. NFTs are still confusing for most people but one number being higher than another number is something that almost anyone can understand. You might even argue that this is the first time crypto is competing against the banks in a very direct way.
The markets might look scary right now but once it settles down we'll start to see new patterns emerge with new ideas and products taking the scene.
