The same reason why a MaybankCoin or PublicBankCoin will not work.
Technically, it is of course possible for anyone and any entity to come out with their own coin, or even make a fork from an existing coin.
The protocols are all transparent and published on GitHub, so it is available to anyone.
I could create a WengherngCoin tomorrow.
But it is meaningless and worthless if nobody uses that coin.

The problem is the "adoption" part......not the number of different coins or tokens out there.
When there are currently certain coins that are already being held by millions of people around the world, for example, it makes more economic sense to businesses (not banks) to jump on the bandwagon and be a part of that economy.
Banks and financial institutions may resist, but I am just hoping that one day in the not-too-distant future, there will be one (or several) really globally adopted cryptocurrency that will render banking institutions and fiat obsolete.
For example, if everyone holds bitcoins, and the lightning network can resolve the block size and transaction time problems, then everyone can basically hold a hardware wallet just like a traditional wallet, and do away with any dependence on fiat. (Maybe will take many years to reach that kind of adoption, but I am convinced that the day will come)

Of course, going by that logic, it is true that it doesn't mean that my ETH or VEN will go up in value......nothing is certain in crypto. Another coin that is technically superior might come out in future and become more widely adopted, rendering those older coins obsolete.
I'm just banking on the first-mover advantage that these projects will succeed.

I don't know, man......people have been saying exactly the same thing since 9 years ago.
And a "current owner" holding BTC from 9 years ago (or even ETH from just 3 years ago) will be doing extremely well off right now.
Nobody knows what will happen tomorrow......but I'd rather err on the side of caution.

Great, now you're getting it, my friend.
Yes, of course all these financial cartels can gang up and create a single global cryptocurrency, and give incentives to everyone on earth to use it.
And you know what, that's EXACTLY what the people want!
A single global cryptocurrency that breaks down international barriers, unable to be manipulated by any single government, having a universally stable value across the whole world, and guaranteeing zero foreign transfer fees, and eliminating that pesky little thing called "foreign exchange rates".
That would be a dream come true, and I will gladly use that Maybank Coin over BTC.

Sadly, though, the chances of that happening are minuscule, because that's exactly how these financial cartels make billions every year. There is no incentive for them to create such a universal cryptocurrency.

Well, yeah OK, my mistake there.
You're right, I recently transferred about USD 30k in BTC, and still had to pay around USD 1 in transaction fees to the miners.

Wow......was it ever that high?
I haven't been doing much transferring of BTC, to be honest.
USD 100 is really ridiculous!
ETH is much better, or even some of the other coins.

That's still a ridiculous amount.
I guess that was during the time of the massive congestion and the height of the block size debate.
But I am sure that with the recent developments like the lightning network, such problems will be a thing of the past.

It would be a pity......but personally, I wouldn't be too unhappy if it really did go back to USD 6k by the end of the year.
I've always hoped to someday achieve my target of accumulating 21 BTC.

I just thought it would be cool round number......since there will only ever be 21 million BTCs in existence.
Means I will own 1 millionth of all BTC in existence......hahaha......syiok sendiri factor.

Posting information about other coins are allowed.
In fact, it is how we all learn from each other, as everyone will have their own opinions and reviews about the coin, which leads to healthy debate and brainstorming.

HOWEVER, it is not allowed to post referral links.
You can post a link to the token website, but not your own referral link.
Doing so will result in the post being reported and deleted.

This post has been edited by wengherng: May 14 2018, 12:28 PM

Give it time, and zoom out on the charts to a longer time frame.
Good projects will undoubtedly increase in value over time.
If VEN goes to 800k sats (for example), then it really doesn't matter so much whether you bought it at 80k or 50k sats, right?
The important thing is whether the project is solid and will become successful or not, and whether you have the willpower to hold it long term until then.

I was only throwing out a number of 800k sats......personally I use USD as my point of reference.
But in any case, I personally think that the project still has a lot of potential for upwards growth. We haven't even seen real widespread effects of the project in real life applications and industries yet.
Maybe I'm just naively optimistic?

My personal horizon for long term is 5 years.
I can understand it's not for everyone, though.

Hello folks.
I've been in hibernation mode for the past several weeks now (after all, it's no fun watching your stash's worth go down by 75%) so I've been focusing on other aspects of my life.
Hopefully everyone is still keeping optimistic here.

On an unrelated matter......I just received an email from Binance saying that they performed a "second round of document verification" and my documents have failed this round, so they reduced my daily withdrawal limit back to 2 BTC per day.

Obviously I didn't click on any links in the email. (These days, you can never be too sure)
I haven't had time to access Binance yet, so I can't say whether this is true.

Did anyone else get this email?

Definitely.
Wished I cashed out more too, but oh well, I know myself......I'm terrible at trading, so if I did that, I might have just lost it all by making bad trades anyway.

Ah OK, cool.
I haven't had time to go into it in detail yet, but good to know.
Thanks!

Damn right it's a patience game.
In fact, I am seriously considering putting in fresh funds.

I was kinda hoping to buy in below 6k, but seems I am too late now.
Unfortunately my funds will not be coming in until August, so no chance to capitalise on the low prices.

I think I've been hibernating for too long......too busy with work these days.
Totally forgot about this VEN/VET topic.

I have some VEN in my Ledger Nano, so what do I need to do now?
I don't have an account with Kucoin.
Can you please guide me on what I need to do?

Many thanks for the quick reply, folks.
So that means I can just keep them in my Ledger Nano and wait for the official wallet swap from 10th August onward?
Yeah sorry, I know I should be reading up the medium articles and the FAQ, but I am just too busy with work right now (firefighting constantly in my project) to keep focused.

I don't have X status, but I do have Strength node status.
But it's the same, right?
I just wait to do the binding after 10th August?

That's very interesting indeed.
If you don't mind, can you share with us generally, how much has the bear market affected you?
I mean, as we all know, crypto has plummeted quite significantly over the past one year, with some dropping as much as 90% of their peak values.
It would be very interesting to know how companies deal with this kind of volatility in terms of remuneration to employees.
Did your company initiate any countermeasures to help its employees cushion the impact?

Of course, you don't have to answer if this is deemed too personal.
Just that it is quite rare for us here to know of someone who is paid 100% in crypto.

Quite frankly, it hasn't......yet.
I don't think we're there yet, in terms of global adoption enough to cause any significant change to our daily lives.
Except consuming my time reading through all the comments in the various Telegram groups and following up on some of the latest news.

I see......so your salary is fixed relative to fiat?
For example if your monthly salary is USD 5k, it will be USD 5k worth of BTC every month, regardless of the price of BTC at that time.
OK, that makes sense, especially in this early stage of cryptocurrency adoption.
Thanks for sharing.

Agreed, if I were in your shoes, I would also probably bypass the fiat conversion if I had the option.
I am not very familiar with the MCO project so I can't comment, but being an ICO participant in TenX, I'd still like to give them the benefit of the doubt and hope that they continue to work on their project despite Julian leaving.
They seem to be, thankfully. The cards are continually being launched and distributed right now, though the intricate workings remain to be clarified.