Connect with us

#Bitcoin

Recent Market Crash: Volatility has held Crypto back in the past, A Crash may be key to mature markets

Published

on

The relative stability that Bitcoin has enjoyed recently is a strong indicator that things are changing. Investments made upon crypto gold rush are gambling
We thank Aubrey Hansen for this guest post.

The relative stability that Bitcoin has enjoyed recently is a strong indicator that things are changing. This much is obvious: if 2017 was the summer of ICOs, this year’s was a space filled with hundreds of startups shouting into a void. Here skepticism has run rife and Ethereum notably saw a dramatic price correction, in part driven by startups selling off their ETH holdings in droves due to unsuccessful ICOs.

 So, if nearly $13 billion of value was lost Thursday, all is not necessarily lost. Sentiment suffers but the end goal of widespread adoption does not. Crypto communities are increasingly saying that, no we do not want revolutionary concepts but instead show us a working product.

 

Neither should any of us want an inflated market. By design, ICOs work as a fundraising process and offer little to the retail investor beyond vague hopes of future gains. Cryptocurrencies need a stable value that is linked less to speculation and more to genuine demand. Otherwise, there is no hope of attracting institutional money.

 

If a bull run is in the offing it could be wise not to get too excited; similarly, crashes should be – if not welcomed – accepted with equanimity as part of a growing process. We are hopefully moving towards a stage where the old school, so Bitcoin, Ethereum, can offer some level of stability while new altcoins are judged on their tech and credibility.

 

This offers retail investors an opportunity, but no longer should we entertain the fantasy of recouping our money 1,000 times over. A mature market will see much more of ‘pocket change’ investments which, if held in the long run, could prove to turn out as profitable ventures.

 

The old meme rings true: Be in it for the tech

You are welcome, of course, to dream of flying to the proverbial moon. But investment decisions made upon dreams of a crypto gold rush are as good as gambling. If indeed the ‘days of 1,000 times gains are over’ it is hard to see how this would be a good strategy for retail investors.

 

Development of blockchain technologies has exploded far beyond the maiden project that is bitcoin. A nascent technology, it now exists in many permutations as development teams around the world work to solve the current challenges blocking progress into the mainstream.

 

You do not need to be gambling on the big coins as these markets are too vast for retail investors to play in, perhaps with an exception for savvy day traders and long-term hodlers.

 

Buy alt-coins with pocket change

It is a lot of work to sort through the crypto noise, though. There are platforms out there trying to deliver something different: notably, the issue of scalability with traditional blockchains may require a different approach. Other solutions have been proposed and young projects are proposing an entirely different design in their networks. Here are two examples which both look to have a working product by 2019; these are possibly the types of coins you should put your change into and forget about for two years.

CyberVein (CVT) recently featured in Forbes for their platform which, similarly to IOTA (MIOTA), proposes a Directed Acyclic Graph (DAG) structure. This scales far better than traditional blockchains, they say: several thousands of transactions can complete per second, compared to bitcoin’s cap at seven. There could be some capital getting in at ground level with the Chinese startup; it is certainly worth throwing at least ten dollars into.

FairLayer (FRD) has scant noise around it outside of smaller tech circles, but the kinds of people who will be investing in this project lend it more credibility than most. Its founder is Egor Homakov, a respected programmer who enjoys, if not reverence, certainly high praise from people best placed to make such judgements. Homakov makes bold claims in the project abstract – he believes his network will be infinitely scalable without compromise on security – so it’s well worth a read.

 

Keep an open, yet discerning mind

The initial era of hype is gone and, as a consequence, it is more important than ever that retail investors scrutinize projects, encourage debate and support projects. Throwing too much weight behind an altcoin may not be a wise move for most, instead, distribute investments across projects which pique interest.

What will help the crypto markets reach a level of serious maturity is less speculation and more functional judgements. If the community were to achieve this, it could bring the legitimacy crypto’s to need to foster widespread adoption.

Continue Reading
2 Comments

2 Comments

  1. Fuckbanks

    October 12, 2018 at 12:50 am

    Thousands of inveators lost money including me and now this cock suckers have the urge to say that 1000 gains are over? SHUT THE FUCK UP there manipulating the market extremly and that is FRAUD they should be held accountable for this!!

  2. Pingback: Recent Market Crash: Volatility has held Crypto back in the past, A Crash may be key to mature markets – The Coinage Times

Leave a Reply

Your email address will not be published. Required fields are marked *

#Bitcoin

Elon Musk: Cryptocurrency is the future, Paper Currency going to end.

Published

on

CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin.

Enthusiastic towards cryptocurrency also the CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin. Which clearly means Musk is in favor of the decentralized currency ( also known as cryptocurrency).

 

In one of the episodes of ‘On The Road To Full Autonomy With Elon Musk, which is hosted by Tasha Keeney, the CEO spoke and discussed the developments that Tesla shall undergo and also spoke about the cryptocurrency with regard the future of technology and finance.

 

When Elon Musk was asked regarding Jack Dorsey’s prediction, which was that the Internet shall be witnessing Bitcoin as its native currency soon, Elon Musk answered it and found it interesting.

 

He further said that the idea and also the structure of the Bitcoin is great and it seems like there is some advantage to Ethereum. Elon Musk is not sure whether it will be good for Tesla resources to get into cryptocurrency.

 

Elon Musk also said that Bitcoin and Ethereum scammers were so rampant on Twitter, he decided to join in and He said at one point that he wants to buy some Bitcoin. Then his account got suspended cause obviously there was some automatic rule, he then ended the conversation by saying that he was just joking.

 

A campaign was started by Twitter which deleted several bogus accounts for “coordinated manipulation,” and promotion of cryptocurrency scams, Elon Musk appreciated the website’s efforts.

 

Elon Musk added that the disadvantage of cryptocurrency is that the nature of production is energy intensive as regards to the mining process.

 

Keeney referenced to the terrible financial condition in Africa, where the restrictions on the currency stop the citizens from converting their currencies and forcing them to go through the US dollar. To which Musk replied that cryptocurrency is a far better way to transfer money or value rather than pieces of paper. Paper money is going away.

 

Even after Elon Musk’s positive statement on cryptocurrencies, his recognition for the structure and concept of Bitcoin and Ethereum and his confirmation that paper money will be replaced by the decentralized currency, the Tesla CEO made it clear that his company will not be selling Bitcoins.

Continue Reading

#Bitcoin

Tim Draper: Bitcoin Mass Adoption till 2021

Published

on

Tim Draper said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin.

Bitcoin is considered as digital gold or e-gold which has achieved dominance in the field of cryptocurrency. Tim Draper, who is the inventor of the Billionaire Bitcoin, predicted the rapid increase in the growth of the Bitcoin or cryptocurrency in the world and said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin. According to his prediction, the world is just 2 years away from when everybody shall start to use Bitcoin.

 

By 2023, Baristas would be laughing at people who shall make the payment of their purchase by using the currency other than the Bitcoin, Tim Draper added.

 

Even after having a large number of Bitcoins, Tim Draper has no plan to trade or sell any of his Bitcoin.

Tim Draper previously claimed and predicted that by 2022, the net value of Bitcoin will reach to $250,000 per coin. The prediction is also said to be the highest prediction coming from the industry of cryptocurrency. But Draper is still not clear on how this rapid growth will take place but he is enough confidence that there will be massive growth in cryptocurrency.

 

Recently the CEO of Twitter, Jack Dorsey also publicized Bitcoin.

Continue Reading

#Bitcoin

Crypto News: Bitmain $500 million loss, Bitcoin Mining Scam, RippleNet

Published

on

Let's discuss three recent big crypto news. Bitmain losing $500 million within 3 months, bitcoin mining scam in Thailand and RippleNet adoption.

Bitmain Posts $500 million loss amidst crypto winters:

We all are aware of the bear run that has been impacting the crypto market for the last year. From the hardware elements to the software elements, every element of the crypto space has been affected by this bear run. Recently Bitmain, a mining hardware giant company indirectly posted that it lost $500 million loss in the third quarter of 2018.

Let us analyze the post posted by the Bitmain. It has earlier stated that it gained a profit of $1 billion in the first half of 2018. Further, it posted that total benefits it had by the third quarter of 2018 were $500 million. This means that if we subtract the benefits it had by the third quarter 2018 from the benefits it has by the June 2018, it clarifies that Bitmain undergoes the loss of $500 million within 3 months. This is really a big loss that the company faced from July to September 2018. Also if we talk about the revenue, it has a total revenue of $2.8 billion in the first half of 2018 and $3 billion by the third quarter of 2018. This means that the total increase in revenue of $200 million in three months.

The bear run has affected almost every organizations. The price of bitcoin went down to $2600 from almighty $19783. However, it is expected that the next bull run of the crypto space is on the way and could hit at any nearby time.

 

Bitcoin Mining Scam:

Where is a market, there is a  risk of fraud and scams. Recently, news came into light for a major scam in bitcoin mining. Victims of this big bitcoin mining scam have filed a case in Thailand. As per the sources, around 30 victims were frauded by a scam involving a bitcoin mining company named ‘CryptoMining.Farm’. The firm made fool of the 142 victims and cost them a scam of a total of $1.34 million.

Initially, the company promised to give 70% as annual return and the facility to withdraw at any time but later on, they started avoiding the facility of instant withdraw and said that they would pay in 84 installments. The installments would take 7 years to get the amount and also, the company promised to pay in form of foreign currencies which is completely against the norms of Thailand. This has costed all the victims to lose around $1.34 million. However, the technology crime branch of Thailand has filed the case and the investigation has been started.

One must require to get all the details of the crypto company in which they are investing. One should always read all the terms and conditions mentioned in the paper. And even after that if a company do these kinds of fraud, one must inform the technology crime bureau of the country.

 

RippleNet:

Recently, the second largest bank of Oman, BankDhofar has announced that it has started using the RippleNet technology for performing cross-border payments to countries like India. For the first time in the history of Oman, any bank has accepted the RippleNet for performing transactions. With this feature, the customers will be able to transfer cross-border funds using a mobile application within 2 minutes. This feature would be a great help to the Indians living in this country to transfer payments.

BankDhofar, which started in 1990, in Oman’s second largest bank. It had an amazing revenue of $28.2 million out of which the revenue itself in the year 2017 was around $2.4 million. On the other hand, RippleNet, based on blockchain technology, is an international payment provider for cross-border payment. It is a product of the third largest firm in the crypto space, Ripple XRP. RippleNet has expanded its service all across the globe and is one of the leading service providers for institutional payment.

Continue Reading

Trending