Electric knives weren’t as popular as the 1986 Christmas sensation Cabbage Patch Kids but there was a period of time in 1965 suburban America when they were one of the most desirable gifts to be given or received. Shortly after its introduction, the electric knife became a popular kitchen tool. However, there were many drawbacks. The knife required constant maintenance. It had to be taken completely apart and cleaned thoroughly after each use to prevent the spread of germs and the corrosion of rust. Busy people soon found this more of an inconvenience than an advantage. When the blades weren’t set back in place exactly, they snapped or caused injury when the knives were turned on. After the novelty wore off, a majority of households returned to the old-fashioned knife for slicing food and reserved the electric knife for carving meat at the holiday table. You can still find electric knives for sale in places like Bed Bath and Beyond but I can’t remember the last time I saw one in use.
The electric knife is a good example of an invention that came on the scene, was popular, and then, for all intents and purposes, disappeared for lack of use and a good raison d’etre. Altcoins that have no good reason for being will suffer the same fate.