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RE: Bitcoin making new all time highs, but can the reasons behind it also be good for steem and altcoins?

in #bitcoin7 years ago

Seems to me the Bitcoin futures would work as yet another piece of confirmation that the entire crypto space is "legitimate" on a greater scale than just to a few weirdos. And that would have to be good for at least some of the alt coins, as well.

But I am guessing it will also mean that the issuers of alt coins better actually have some sort of "plan" when they have their ICOs. With greater scrutiny, someone issuing coins simply because "cryptos are hot" will probably get a serious downside surprise. It's one of the reasons I like Steem... there's "something here."

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Exactly. Great points. I would imagine there will be more than just a downside surprise for the fraudulent coins as the space gains legitimacy it will also get scrutinized by regulators.

@rawdawg couldn't have said it better himself!