Read the success stories of crypto entrepreneurs.

Discussions are fun when we are part of a community.
Login Free Registration

Get 10 AltcoinN Points just by registering on this forums.

Crypto Company CEO Gives Top 22 Year End Thoughts for 2019

The following was sourced from Fred Krueger, CEO at LynxChain, who compiled his list for the end of the 2019 calendar year and the crypto world. Here is Fred's End of Year Crypto Thoughts:


1. Libra's failure to launch was the biggest story of 2019. In May it seemed like mass adoption (and crushing of little companies like Lynx) was just around the corner. Those dreams seem now far away. I'm guessing we will see no Libra in 2020.

2. China's “endorsement” of crypto is not going to drive mass adoption of what we currently perceive as Crypto. China views Blockchain as a means of surveillance, pretty much the opposite of the Satoshi Vision.

3. EOS has had a horrible year. First the sock puppet Block Producers, then the non-launch of Voice, and finally the EIDOS complete paralysis of the network. EOS price of $2.56 is only 25% off the all time low. Meanwhile BTC has doubled.

4. ETH has had another nothing year, and despite “Istanbul” it doesn't feel like the ETH2 is really close to “hitting the shelves” in a meaningful consumer way. ETH token at 133 is fairing marginally better than EOS, but still massively underperforming.

5. TRON has also had a horrible year. Their purchase of Bittorent did not convert any users to their platform, and they clearly got slapped by the Chinese government. Hard to imagine this turning around.

6. Cardano, Algorand, Hashgraph all failed to launch in any kind of meaningful way. Token prices are all down, but more importantly, usage is zero.

7. It's generally been a bad year for dApps as well. At the beginning of 2019, it seemed that EOS might get a second wind with what we now know as “Voice”, but not only the “announcement” disappointed, it did not result in a shipping product.

8. The EIDOS virus ravaged the EOS eco-system and has had a few (Karma and EarnBet in particular) leave for chains like WAX. It's clear that things are in disarray.

9. From our perspective, the biggest non-event was user adoption. Across the board, on EOS, ETH and TRON user numbers are down. Even Bitcoin transactions are at best flat. We think a lot of this has to do with unusable UX (metamask being one example), and second tier app efforts (an example is EOS Towers which just took an open source game, slapped a point system on it and shipped it with a scatter plugin).

10. The App store did not make things easier in 2019. If anything Apple is cracking down more on crypto at a time when Facebook is loosening up. It's unclear how this will play out in 2020.

11. We're launching our own chain, LynxChain in a few weeks and we hope to redefine what a “consumer experience” can be for blockchain. It will take a few more months before the app side of it gets defined (we are going to be building a lot of our own apps), but I think it will be immediately clear that Lynx is fundamentally different than any other chain out there in the sense of actually being a product that a consumer might want to use.

12. Debit cards linked to crypto (see crypto dot com) are going to solve the cross border side of things. Watch this space closely.

13. Watch NFTs, and in particular Mythical Games and dGoods very closely in 2020. I can't say exactly when all this will hit, but it will hit. We're building dGoods deeply into Lynx.

14. Fiat on Ramps in the US are always, it seems 1-2 months away. Again, let's see, but we've been disappointed so many times I am not holding my breath.

15. Craig Wright is not Satoshi and is going to have a miserable 2020. If anybody knows how to short BSV, I would appreciate that advice. I think this story will implode as they try to fork their own fork and reclaim BSV without private keys.

16. HEX is a complete joke and is actually going to zero.

17. Tezos got listed on Coinbase and is enjoying a tiny moment in the sun by paying people PIK interest before it's inevitable collapse.

Another example of what Ryan Selkis coined the great “staking delusion of 2019”

18. It's pretty clear now that 90% of the traffic on exchanges in entirely bots. The narrative that “billions are trading daily” is just not true.

19. Scams are doing great. Besides HEX (see #16), Plus Token based in China managed to grab 3 Billion in BTC and ETH and could very well be responsible for much of market rise and fall in 2019.

20. People are talking a lot about DeFi and specifically DAI and Compound on ETH, but the actual numbers are still really insignificant. Many observers (myself included) view DeFi as an accident waiting to happen.

21. Security tokens are a complete non-event. tZero is not the success it looked like it might have been.

22. Ripple raised money, but it's not at all clear what the long term future of that company is. Meanwhile they continue to sell XRP. Could the raise have been massively over-collateralized by XRP? Who knows… I am guessing they are thrilled that Libra was delayed.


What do you guys think of Fred's recap list of what happened in the bitcoin and blockchain world this year? What were your favorite points? Did he miss anything? Was he wrong about anything?