The most popular class of cryptocurrency is so-called “altcoins.” While bitcoin was the first major crypto and remains the largest by market cap, altcoins are a close second. The biggest by market cap is Ethereum, followed by Litecoin and Ripple.
As of this writing, the total market cap for all altcoins is $245 billion. That’s more than bitcoin’s $200 billion. If you’re keeping score at home, that means that altcoin has almost as much value as bitcoin does but represents less than 10% of the total crypto market.
In other words, it’s growing like crazy. And it doesn’t look like it’s going to slow down anytime soon.
One of the reasons is that blockchain technology is becoming mainstream. More businesses are seeing the value in using it in their applications, and they’re increasingly able to do so thanks to the talent on board with this space.
It is hard to be an expert in the blockchain industry, and it is especially hard to be a crypto expert. Most of the experts are not telling you anything you don’t know and don’t want to hear:
“The price of Bitcoin and Ethereum are both high! Be careful! Be careful! Be careful!”
I think that if there was a free training course on investing in blockchain, I would take it. But there isn’t one.
So I have decided to create one. This is the first installment. You are welcome to come back for more.
This is a relatively new coin, but it has already had a meteoric rise, with the price of one unit going from $0.0001 to over $0.00016 in just a few months.
The development team is led by “Charlie Lee,” the creator of Litecoin, which also rose to prominence with a meteoric rise back in 2011.
One major development that may be linked to this rise is the recent announcement that Coinbase will add this coin to their platform. Although they haven’t specifically mentioned how many coins they’ll support initially, they have stated that they’ll add them gradually over time.
This coin is currently only available on Binance, although there are indications that it may be added onto other exchanges soon. That’s not likely to have any significant impact on its price at this point — Binance is an extremely popular exchange, and people are prepared to pay a premium for this coin — but I thought it was worth mentioning because of the Coinbase news.
A cryptocurrency can be defined as money that isn’t controlled by a bank. It’s sort of like Bitcoin, but with some of the drawbacks of Bitcoin removed. For example: it can be used to purchase goods and services, so you don’t have to sell it for dollars first.
The current popular crypto is Bitcoin. The software is called Bitcoin Core, and there are several versions. The software’s code was written by a person called Satoshi Nakamoto, who has never been identified or revealed to the public in any way except through a series of increasingly cryptic postings on the project’s discussion site.
The next biggest crypto is Ethereum, which runs on a blockchain or distributed ledger technology invented by someone named Vitalik Buterin (a Russian-Canadian programmer). There are also other blockchains based on different ideas, and most people don’t even know what they are called or how they work.
Cryptocurrencies are an early example of the emerging technology of blockchains. Blockchains are a kind of database that allows records to be shared but no one person can write to it more than once. When you use the Blockchain for financial transactions, it keeps a record of who paid what to whom, and everyone can see it but no one can change or delete it.
Blockchain tech was first developed in 2008 by a person or people using the name Satoshi Nakamoto. He or they went on to launch Bitcoin, a crypto currency.
The idea was that Bitcoin would be more reliable than conventional currencies. The owner of a Bitcoin account could send payments of money to anyone else’s Bitcoin account simply by sending the right message through a network known as the “block chain.” The blockchain is an ever-growing list of records, called blocks, which is public and which everyone has access to but no one can change. Anything in the blocks is permanent. If you pay me $20 in bitcoins, I get the money and I have proof that you sent it, but I don’t know who you are or why you sent me $20.
A big problem with conventional currencies is that they are controlled by governments and central banks that are not accountable to anyone. So when governments
One of the most interesting things about cryptocurrencies is that it may be possible to make money without having cryptocurrency at all. The basic idea is that if you are willing to take on a certain amount of risk, you can invest in something that doesn’t even exist yet.
Let me explain with an example. Imagine you have some bitcoins-worth $100,000, say-that you have been holding since early 2015. (In 2015 they were worth a lot more than they’re worth now.) Suppose you believe that bitcoin is going to be widely adopted and will rise in value substantially in the future. Maybe it will be worth $100 million in 2023, maybe it will be worth nothing at all.
You decide to sell your bitcoins now and buy a share of stock in Tesla Inc., which is trading at $190 per share right now. Tesla’s market capitalization is around $50 billion, so this “investment” would cost you just $10 million. Your hope is that over the next five years or so Tesla becomes wildly successful, and its stock price goes up a lot, so that you can get back your initial investment plus a nice profit.
Is this an insane risk? Well, it depends on how much money you’re willing to lose. There
This article is dedicated to the memory of George Mallory who, on June 23rd, 1924, fell to his death while trying to climb Mount Everest. He was a member of an expedition attempting to be the first (or at least the first British) team to reach the summit of Mt. Everest.
The story goes that when he got near the summit he looked up and saw what he described as “a vision of light.” His last words were, “The mountain is calling me.”
George Mallory was an amazing person and was part of a team that changed history and made it possible for anyone to walk on Mars.
As one can see from this video created by a 3D printing company in China, you too can achieve your dreams with a 3D-printed rocket! Learn more about their products here: https://www.3dprintboard.com/3d-printing-news/2018/06/23/rocket-launcher-company-creates-3d-printed-rocket-to-launch-spacecrafts/.