Here’s a question that often comes up: How do I choose crypto currency to use – isn’t it the same?
There is no doubt that Bitcoin has taken the lion’s share of the crypto currency (CC) market, and this is largely due to its FAME. These surprises are very similar to what is happening in global politics, where voters cast more votes than FAME, rather than just trying to qualify or run for office. Bitcoin is a pioneer in this market and continues to hold almost every market capitalization. This popularity does not necessarily mean that it is good for the job, and it is well known that Bitcoin has its shortcomings and problems that need to be addressed, however, there are disagreements in the Bitcoin world on how to solve those problems. As the crisis grows, there is an opportunity to continue developing new currencies that describe other trends, thus differentiating themselves from the nearly 1300 currencies in this market. Let’s take a look at two Bitcoin competitors and see how they differ from Bitcoin, as well as each other:
Ethereum (ETH) – Ethereum Money is known as ETHER. The main difference from Bitcoin is that Ethereum uses “smart contracts” that contain items on the Ethereum blockchain account. Smart contracts are defined by their makers and can be linked to other contracts, make decisions, store data, and send ETHER to others. The killings and services they offer are provided by the Ethereum network, all of which are beyond what Bitcoin or any other blockchain network can do. Smart Contracts can act as an independent, compliant with your spending rules and regulations and initiate other activities on the Ethereum network.
Destruction (XRP) – This currency and the Ripple network also have other features that make it more expensive than digital currencies such as Bitcoin. Ripple has developed the Ripple Transaction Protocol (RTXP), a powerful financial tool that allows for online exchanges on Ripple to transfer money quickly and efficiently. The key is to keep the money “at the gate” where only those who know the password can open the money. For financial institutions this opens up great opportunities, as it reduces border payments, reduces costs, and is more transparent and secure. All of this is done using blockchain technology.
The media publishes the market with nonsense almost every day, however, their stories are not really deep … with the biggest headlines.
The Wild West show continues …
Five crypto / blockchain shares take approx 109% from December 11/17. The wild changes continue with the daily gyrts. Yesterday we had South Korea and China recently to try to curb cryptocurrencies.
On Thursday, South Korea’s Justice Minister Park Sang-ki sent prices around the world and the financial markets were in turmoil as regulators drafted cryptocurrency ban laws. Later that day, the South Korean Ministry of Finance and Finance, one of South Korea’s top members in charge of cryptocurrency transactions, came out and said that their department disagree and the Ministry of Justice’s prior statement on the potential ban on cryptocurrency transactions.
While the South Korean government says the cryptocurrency trade is nothing but gambling, and they are worried that these companies will leave many citizens in a poor home, their real concern is the lack of taxes. This is a concern that every government has.
China has grown to become one of the world’s largest cryptocurrency mining companies, but now the government is said to be looking at the development of electronic cryptocurrencies used by mining computers. More than 80% of Bitcoin’s high-volume commodities today come from China. By shutting down miners, the government could make it harder for Bitcoin users to monitor their activities. Mining operations will go elsewhere, but China is beautiful mainly due to its low electricity and location. If China follows this threat, there will be a temporary reduction in mining, which could allow Bitcoin users to see longer periods of time and higher price guarantees.
The journey will continue, and as the internet grows, we will see some winners, and in the end, some losers. Also, as with the amount of internet, or the amount of uranium, it is those who arrive early who will win, while investors are always at the end, buying higher.