Crypto-currency should be referred to as an ownership right (token or share certificate) to a platform, or a specifically designed currency, built on a blockchain backbone. Why you need to get in on many of them and 'hold' as they will all be able to be interchangeable (shape shift) with ease through a shape shift application (app) or soon in your computer browser.
Shape shift, sounds like an X-Men movie eh?
To give my almost 1,000 followers an update, I am still waiting on my VW Van as the tachometer is giving us trouble. I will be moving into 50 square feet and traveling the Americas soon. I should have been headed south already as I only bought summer tires and Edmonton Alberta Canada has already seen snow. This week I am off to Nelson BC to do some errands and get my shed to lock up stage. I had to stop in-between Trail and Castlegar BC Canada, for this beautiful shot of a pond:
Bitcoin is a 'utility' and since it can be used like money some are doing such like me and my friends. The utility is: the most secure data base ever invented. As simple as that. My analogy is: picture it like a big spread sheet (an excel spread sheet) with 21 million cells. Each cell has a password assigned to it and that is called the keys to that cell. These keys can be transferred to other cell keys and are then owned or controlled by the new keys. Cool eh! There is even an open source protocol that releases these cell ownership controls over time ensuring decentralization and utilizing consensus systematic for any updates.
Currently, the market capitalization (net worth) of all cryptos is around $129 Billion USD. This time next year I predict $1.2 Trillion USD. That is a 10x gain. You need to sell some of your assets and get in NOW! Please note I am not a financial advisor but have 35 years of generally accepted accounting expertise.
Speaking of shape-shifting: The financial world is not what you think:
The existence of an economic super-entity as the study authors call it has never been documented before. I suspect that control is less now than a hundred years ago but I don't know that. The fact that these large data sets have only recently become available has restricted antitrust institution actions and pretty much went unnoticed. I suggest it is time these organizations are forced to act on this information. It has been proven small cross-shareholding companies can effect market competition. It seems to me to be common sense as we just look around. We don't see too many price wars at our local gas stations, utilities, banks, etc. Is it because they have the same shareholders and are either conspiring or simply a wink and nod, or is it the smart way to make more money? Back to following the money and it all makes sense.
The blockchain is like water any type works for your survival. Tap water, lake water, spring water, creek water or bottled water. Now then how does a token become money: it becomes money when a value is attached to the controlling or ownership of the token. Why would someone want to own such a utility or a portion of it? There is value in someone notarizing contracts in a manner so secure it has had zero down time and zero hacks or errors from the early stages - currently the bitcoin blockchain is now running over 9 years worth of 10 minute blocks of transactions. I call it triple entry accounting: a transaction 1) buyer 2) seller 3) witness by ledger and community. Or debit, credit and witness. You can sell services on this backbone and therefore owning control allows for a return on investment. Computational Trust!
The current economic system is designed to keep you from becoming super rich and threatening the power that is currently in place. I see the finance world wasting up to 20% of the gross domestic product (GDP) keeping you drenched in expenses like bank fees, lawyer fees, insurance fees, etc. You need to be the change and the best thing you can do is shop local!
The system has us all numb through sugars, alcohol, prescriptions and limited education. Even gambling and buying lottery tickets has the government keeping your money so they can waste your taxes the way they decide.
Here is a picture of the lobby of the Castlegar casino I had excellent Russian borscht (soup), a few days back. I am not a gambler and or speculator my investments in crypto-currency is based on years of experience in finance and not trusting the current system:
The current volatility of the crypto-currency (bitcoin) world is there as big money can pump and dump it to shake you out of it as they buy it all up. What I mean by all crypto's are the same, is because of shape shifting, you can be paid or spend in one while shape shifting into the one you trust while not needing to use it.
Most of them are positioned to fight the up coming inflation that I see.