Friday, December 1, 2017
The Progressive Watchman: WAYS TO PLAY THE CRYPTO MARKET: Every night in the news if you are paying attention you hear of BITCOIN going to all time highs. It recently touched 10,600 per coin. Bitc...
Every night in the news if you are paying attention you hear of BITCOIN going to all time highs. It recently touched 10,600 per coin. Bitcoin went from $.30 in 2011 to over $10,600 yesterday, Matter of fact at the beginning of 2017 it was 1k per coin what a staggering increase. If you would have invested $100 in 2011 that stake would now be worth almost $3 million. today. So what is a Bitcoin and why is going up so fast. Bitcoin and other coins are a cryptocurrency. "A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature." Cryptocurrencies are in vogue because our banking system are unstable, and in the instability in governments in their never ending hunt for your assets (things you own and treasure..ie MONEY) These alternative forms of money have been favorite ways for drug traffic traders, or arms and gun traffic dealers, terrorist group, money launderers or people who wanted to stay off of the grid to transfer payments over the dark web un-noticed. This crypto marketplace now is over $100 billion, as more and more businesses are adding alternative crypto currencies as forms of payments.and this segment of the market is now been a major wake up call for the old school playas who run the world finances...ie the banks, wall street and governments, Not even negative comments coming from the banking establishment or the Chinese government that they will close exchanges can dampen this freight train, plus the ole school boys are launching futures contracts starting December 2018.
Now most of us don't have 10K to flop down on a single coin, there are other plays in this space as this new frontier in technology opens up. Here are some other alternative coins in the space that are highly traded and under $400 but all of these were a around $3 t the beginning of the year. Here are my 4 favorites ...Ethereum, Litecoin which is a true alternative to Bitcoin with heavy backers, and the next two I will lump together because they are true stealth plays: ZCASH & Monero. All of these alternative cryptos using Blockchain technology are very volatile.
NOW lets get into the technology behind these and companies that have not taken off yet because people don't understand the technology yet. These companies are setup to reshape the way people transact business and interact in the global commercial marketplace like small business growth, employee payroll networks, B2B and D2C transactions as well aw equity debt financing. Now the old adage if you can't beat em join em"
the 1st I like is Ripple , Ripple is a payment network and the payment protocol that powers it. Many banks and large corportions across the world use it as a settlement infrastructure.
2nd is Global Blockchain Technology Corp...they fund and invest in ICO's, initial coin offerings in the blockchain technology space kinda like a ETF.
3rd is OmiseGO they are a real time peer-to-peer e-wallet platform based upon the Etherum open system platform
4th is Factom they ensure integrity in blockchain transactions.
5th is Javvy is working on a way to exchange cryptocurrency safely and securely via a e wallet online and eliminate the need to have multiple web accounts.