Take a deep breath and close your eyes for a moment. Katy Perry's new, inspirational hit "Roar" plays on the radio. Open your eyes. Watch a movie and you're likely to watch the much anticipated LEGO movie.
Then take a break to smuggle Luigi Death Star memes and review your recent investment in the cryptocurrency. Bitcoin, now only five years old, is worth $ 630 and you're absolutely convinced that Auroracoin is the next big thing in blockchain, even if you're not really from Iceland. Crowdsale has just started and XRP is still called ripple! What a time to be alive.
Already in 2014 (almost five years ago), Bitcoin, Ripple and Litecoin were the top 3 coins on the market, but there are the similarities in the end. After these still relevant names followed a series of forgotten crypto currency projects, such as Nxt and Mastercoin.
Be honest: Do you remember Auroracoin, the Icelandic alternative to Bitcoin, which promises every citizen free cryptocurrency through a series of air crashes tied to the domestic identification system?
In 2014, it was the world's fourth most popular cryptocurrency peaking above $ 40 in the first quarter of this year. Now that a scam has not been classified as relevant because of its ambitious efforts to replace the local currency, it is now completely irrelevant (despite a random resuscitation attempt in 2016).
Today, the value is estimated at only $ 0.05 and is ranked by market capitalization at # 1249.
Peercoin, the cryptocurrency for proof-of-stake use, ranked fifth. It was once described by the New York Times as a rival to Bitcoin, mainly because it was accepted at a Star Trek convention. Peercoins were worth more than $ 7 each at their peak, now worth $ 0.49.
Not to mention that the market capitalization of Peercoin is now an infinitesimal fraction of Bitcoin. So in, NYT.
Mastercoin is probably the most curious platform that has vanished from our zeitgeist. It was a layer built on Bitcoin (which used timestamps) that allowed companies to launch their own brands.
In 2013, it was known that 4,000 BTC (then $ 500,000, today $ 15,000) was raised without anything but a white paper and a vision . A few years later, the controversial, centralized distribution forced its leaders to rename the platform Omni.
Omni is currently the 695th most popular cryptocurrency, priced just over $ 2 (over $ 180 at the beginning of 2014).
While it may still be easy to take a look at today's "Top 8" cryptocurrencies and taunt some of the more dubious inclusions, take a moment and give out projects that never make it – one day they could join them.
Published February 28, 2019 – 16:56 UTC