Is The Great Cryptocurrency Gold Rush About To Begin?

I've been seeing several of the crypto YouTubers predicting that Alt Coins would probably not do as well in the coming Bull Market as they did during the 2017 Bull Run. They now say that most of the emphases might form around Bitcoin and some of the leading Altcoins while many of the other Altcoins just disappear. These are the same YouTubers that didn't give me any warning about the impending Bear Market that saw 90% of my investment and profits dry up in 2018. So while I love the current information that they supply to all of us, I have little to no confidence in their ability to forecast the future. This is why I'm going to ignore these messages from them and do my own analysis of the situation, here is what I think will happen.

During the great "California Gold Rush" these flyers were being distributed all over the America's and people by the thousands sold everything that they had and left their homes for California in search of prosperity and a better life. My thesis for this blog is that we might soon be seeing a similar occurrence due to the discovery of crypto gold. Here are some of my impressions.

• I have seen the first signs that Mainstream media may be starting to bash the current financial system and praise cryptocurrency. This has only been some mentions on network economic forecast shows for now, and it was subtle, but it definitely was there. If that turns into a tend and grows it will start to move people and money.
• Blockchain projects with deep pockets are gearing up for massive advertising campaigns as soon as their projects have reached the point in development that they are ready to scale up to meet the demand. These include mainly right now EOS's "Voice" and Facebook's "Libra" but it will also include the "BAKKT" project brought to you by the parent company of the New York Stock Exchange which will be launching in the near future.
• The world economy is heading toward a recession, many think that this coming recession will be much worse than what happened in 2007-2008. Need I remind you that the entire system was on the brink of complete systemic failure back then which required the creation of many trillions of dollars in new currency (debt) in order "save" it. Where did all of those trillions go and what will become of them? If the same economic woes return will they be able to save it with even more debt? Or is it more likely that there will be a rush to safety in the form of hard commodities (gold, silver, land) and cryptocurrencies (Bitcoin)?
• Price inflation is probably about to explode all around the world, this is due to the currency wars, tariffs, and government sanctions. There is also the problem with major trade deals that are currently being cancelled or renegotiated. What happens when Governments and financial institutions no longer trust each other to go through with a deal? What happens in real life when you sign a contract with someone and they take your money but fail to provide the product? No trust means no further trade, no trade means supply disruptions for needed products which will lead to massive price hikes and the establishment of black markets for those products. Cryptocurrency and smart contracts are the solution to these problems, I believe that blockchain technology will be the catalyst to returning trust back to the financial system.
• Inflation hurts the average person, it is these average people that will drive the great crypto gold rush. If you put your money in a bank account on Friday and by Monday it only has a third of the purchasing power as it had when you made the deposit, then wouldn't you be looking for an answer that will help you keep putting food on your table? What if you deposited your money in a crypto wallet on Friday and on Monday your purchasing power had gone up by a third? Just like what has happened in Venezuela, when prices start to inflate people will turn to cryptocurrencies in mass and retailers will be scrambling to find ways to trade their products for this new form of money.
• When Bitcoin surpasses $30,000 and transaction times begin to slow down and fees begin to rise rapidly again, do you really think that the average person will be putting their meager incomes into this coin? If you are the average guy with $100 - $10K in your savings account and you are trying to make a big "Strike" in crypto's like the guy down the street who bought Bitcoin for under 1K, are you going to be buying Bitcoin also? Or will you use your 10K to buy a crypto that you heard will be big soon but is relatively cheap now? I believe that people in households all over the world will be scouring the blockchain projects in search of that "Eureka" gold strike that is going to solve all of their problems.
• A recession means a loss of jobs and needed income as manufacturing slows down and retain sales drop off of a cliff. All of these service jobs will also suffer as many people and businesses are no longer able to pay someone else to do the work for them. All of these unemployed and underemployed people will be searching for some place, any place to earn a little bit of spendable income. Start counting on your hand the number of blockchain projects that pay people for their time! There are not many of them currently, but I believe that as the projects that do already exist that begin to pay new users they will explode in upward growth. You can expect that in the days ahead then many new projects will pop up trying to provide a service that pays out in cryptocurrency.
• The great surge in vices will also come with an economic downturn. If you just take a look at the most poverty stricken regions of most Countries you will quickly find the location of that Counties Vice industry. Alcohol, gambling, drugs and pornography are prevalent in regions where people have little hope for their future. Who do lotteries owe their success to, the rich? No, it is the average people who are overworked and the downtrodden that purchase the majority of lottery tickets. In shantytowns it is common to see a group of out of work men shooting dice in a corner or playing low stakes poker in a smoke filled room. But what about during the gold rush in the 1800's? Many who struck it rich in the gold fields turned around and spent all of their money in the casino's. Many of the new crypto millionaires will also be feeding their appetite for various vices, and tops among those vices will be sex, gambling, and drugs. I believe that the blockchain projects that feed these vices will profit greatly in the coming Crypto Gold Rush.

My conclusion

There is soon going to be a wild rush into cryptocurrency by both the super rich and all but the poorest of the poor who don't have cell phone service. But unlike other prognosticators I don't believe that Bitcoin or all of the current top ten blockchain projects are going to end up being the big winners leaving most of the other cryptos to rot in their graves. I absolutely believe that there will be a lot of projects that will fail to receive adoption, but it will not be because of their current ranking or because of the level of hype that now surrounds them. The biggest factors for the coming boon in blockchain adoption in my opinion is;

• Scaleability - Will that project be able to meet the high level of demand from a surge of new users? If the answer is no and transaction times and fees skyrocket then the masses will quickly jump ship and look for another project that actually works.
• Usability - What can I do with my crypto once I have it in my wallet? If it is not serving a useful purpose and it is not making my life better then who needs it?
• Value potential - Is there steady value growth for my investment? Can I earn from it or does it pay to hold onto this cryptocurrency? Will this blockchain project be able to adapt and expand?
• Politics - Who is running the show and how are decisions being made for the direction a blockchain moves and how improvements are made? In a decentralized world like blockchain how will responsibility be delegated and how will the platform be governed and policed? I believe that these will become big issues in the future and if a project does not have a solution built into it's framework then there will be a big risk of failure.
• Inexpensive Entertainment and Social Interaction - Movie Theaters, Malls, Mega Shopping Complexes, and Major Live Events are on their way out. Already many people in our society have been priced out of trips to the ball park, to a concert, or to a theater. Blockchain projects that offer inexpensive alternatives to these issues are probably going to do very well. Being able to redeem your time online earning cryptocurrency that you could then use to view concerts or ballgames using virtual reality headsets would provide the ideal solution. In fact, anything that offers a service for social interaction or entertainment that pays you for your time instead of you paying them will likely be hugely successful. Imagine being able to do the same things you are doing now only in the context of a virtual world, except now when you see an Ad you will be paid for your time and attention, which will either reduce the cost of the service or cause it to become completely free. What about games? What if some of you played your favorite board games in a virtual world with unobtrusive advertising banners and signs displayed along the way as you progressed through the game, and you got paid in cryptocurrency for every one of those ads? Then of course the egames that are already huge now will provide users with a way to earn or purchase valuable virtual items whose value can increase over time.
• Virtual property - I believe that we are about to witness the advent of complete virtual worlds, places where you can live and work virtual jobs, build virtual homes and drive virtual vehicles while earning cryptocurrencies that can be used in the real world. I'm still trying to wrap my mind around this concept, but I believe that Blockchain projects like this may be able to one day provide jobs for people that would otherwise be unemployable.

What About Scorum, Where Do We Stand?

Scorum is a project that although it is now live it is still under construction. What you see now is only a tiny fraction of what it can become over time.

What we have now;

1. A Scaleable Blockchain
2. A Social Network
3. Multiple ways to earn cryptos
4. Gambling
5. News and Entertainment
6. A rudimentary form of governance
7. A built in mechanism for advertising

Each of these things are just in their early stages and they all have both the potential and the capacity to grow as Scorum membership grows. In the future we should also have more.

• More ways to earn cryptos, a photo database for one
• More ways to socialize and messaging systems. The formation of communities, clubs and franchises.
• The sports betting platform could one day morph into a complete virtual casino
• Places inside of Scorum to spend the cryptos that we have earned or won.
• Live sporting events and video warehouses of past games.
• Scorum sponsorship's of sportsfigures and personalities
• Professional team ownership's
• Major Advertiser sponsored events
• Player and team pages complete with trophy rooms and virtual tours and interactive visits inside of team facilities and game preparations.

There is so much more to talk about but I hope this gives you some interesting things to think about. You are going to hear a lot of different ideas about what the future of Blockchain technology is going to look like, just keep in mind that everyone has their own ideas and most of those ideas center around what they themselves have invested in. You see that in action here with me, I told you what I think might happen then I told you what projects might be rewarded from these events, then I gave you a fast sales pitch for the project that I'm personally invested in.

These then are ideas that I hope will help you on trying to decide what you want to spend your time and money investing in. What we see with current marketcap ranking systems may be nothing like what we see after it is all said and done and the worlds masses of people move into blockchain technology and start using their cryptos as part of their everyday life. Things are bound to get shook up and the dross will get washed out of the sluicing pan, only the golden nuggets will remain. Right now a lot of people are chasing after fools gold, but eventually the true veins of gold that will be producing rich ore will become visible to everyone, be among the first to find them and you will find your fortunes!