Cryptocurrency: An Insight on it's sweeping Expansion
If you bought $100 of Bitcoin 7 years ago, you'd have $72,900,000 Today.
Nearly Tripling in value this year, the bitcoin rally has been shooting its price in the highs.
This has fueled conversation and controversy between Technologists, Investors, and the Media on the matter of Cryptocurrencies and their place in our ever evolving society
Blockchain and it's innovation are shaping entire markets. With progress within the Central banks, this valuable technology has triggered a domino effect on the financial industry and onto a plethora of other businesses and industries This Is Disruptive Innovation.
Though the span of Bitcoin and it's technology does not stop there.
It has been the mother for the inception of an array of new markets for over 800 other Cryptocurrencies and assets which are available to the public to trade online. Such currencies combines being worth more than the $41 billion market of Bitcoin!
The Rise of ALTCOINS
Bitcoin currently, as of 1th July 2017 only makes up to about 41.6% of all Coins and Assets. Which raises a question on the potential of Altcoins and their growth. What other Cryptocurrencies are out there? Here's a mini list of coins which have taken the Altcoin spotlight (Disclaimer: this is not an Investment guide)
Litecoin
LTC. One of the first of the altcoins to be rather similar to the Bitcoin as it is an outcome of the "Fork" in 2011. It is a cryptocurreny that strives to process blocks 4x faster than the bitcoin to speed up confirmation time for transactions. Currently its market capitalization is worth approximately $2.1 Billion.
Ethereum
ETH. A Cryptocurrency launched in 2015, it is considered a competitor and one of the largest coin by market capitalization aside from Bitcoin. Though, it does have its differences with regards to Bitcoin.
Bitcoin has been designed as a payments protocol first; whereas Ethereum has a much more broad application use. It enables developers to build and deploy decentralized applications and smart contracts. Powered by a currency called ether, it can be traded online and has a current market capitalization of $25.7 Billion.
With its split network the ETC being Ethereum classic was intercepted with a market capitalization of $1.8 billion.
Despite some hurdles, Ethereum has already had a profound real-world effect. Using the Ethereum blockchain, the United Nations successfully authenticated food aid vouchers for 10,000 Syrian refugees and now plans to expand the project to include 100,000 refugees by August.
Ripple
XRP, Also known as Ripple, is a native currency from the Ripple protocol. Which has a much wider catch-all for an open source system with global exchange. It is currently being used by popular banks such as Sautander, Bank of America Merrill Lynch, UBS, and BBC.
Ripple solves an intriguing problem compared to Bitcoin which is that it allows for settling payments between different currencies and even different payments systems. XRP has a market capitalization of $10.5 Billion.
The list goes on...
Monero, Stratis, Dash, Doge coin? With many more altcoins and their purpose, its a wonderfully, ever-expanding crypto-verse. Though with the increased attention and efforts, comes its risks. ie. Regulation.
Regulatory authorities will likely need reassurance that risks including cyberattacks, money-laundering, and terrorism support can be mitigated without harming the innovative progress of the digital currency universe
Great post, very interesting to read. I resteem this post :)
Thank you! Always appreciate a ''ReSteem''. Followed Back!
Very informative! I think this is a good time to buy and hold some of these coins.
Wow definitely deserves a resteem on every view! Thank you! So people, make sure you have at least $100 position and hold it long. Yeah, most people I talk to still view bitcoin as a mysterious black market currency. lol I laugh thinking about all the people I have conversation with who deny cryptos existence or those who make fun of me for believing in some magical money or thinking I'm part of some big scam, just silly. Or something that's suppose to make me feel like an idiot, like "you're too late". Those days coming to an end and they will remember those conversations of me suggesting something really amazingly. A Tech that is just obviously going to be in their near future. When they are reading about our success I will flying around the world enjoying the good life.
What about the rv gcr. Mid july will be telling. Also sept 23. Exciting times may as well plan for the best. That's also what I'm doing. Negative thoughts just dont help
@steemitguide you rock!
This article is really informative for me.
At the moment I am writing A SERIES of blog posts about ALTCOIN INVESTING. As a cryptocoin veteran I will explain:
Consider following me and reestiming these articles. Like you, I am also here to help community to catch the train and MAKE MONEY.
Looking forward to your posts about alt coins. With so many alt coins every bit of information is welcome.
First post about investing. Please read and comment. Ask and I will try to answer in next posts.
https://steemit.com/cryptocurrency/@cryptogirl1/how-to-make-money-on-cryptocurrency-investing-a-series-1
Great post, very helpful. 👍
This is very extended analysis for wich I congratulate you! Good job!
Great info.. Im resteem this post :)
Wow! That was really informative, not too much, not too liitle, just enough for a rookie to make sense of it all :) Thanks.
I hold Bitcoin--Dash--Lites--Ripple and Steem. I have been on a build up from 6 months ago, and so far so good! I trade alt coins and profit are turned into one of the 4 coins, I mentioned! Buy and Hold these! Aloha Al and thanks !
Good post. Very informative. What's also very interesting to me is the technology-product-lifecycle and how it applies to blockchain and cryptocurrencies. Yesterday I wrote an article about it tying those subjects together. https://steemit.com/bitcoin/@remyremy/a-50-drop-in-a-couple-of-days-and-a-35-recovery-in-24-hours-should-you-worry