The Wild West Crypto Show Continues
This is a question that comes up often: Just how do I choose which cryptocurrency to buy - aren't they all the same?
Bitcoin is the pioneer in this market space and continues to garner the vast majority of industry headlines. This FAME doesn't mean that it is good for the job, and it is rather well known that Bitcoin has limitations and conditions that have to be resolved, however, there is disagreement in the Bitcoin world on how best to resolve the problems. As the difficulties fester, there is an ongoing opportunity for developers to initiate new coins that address particular situations, and thus distinguish themselves from the approximately 1300 other coins in this market space.
There is no doubt that Bitcoin has captured the lion's share of the most accurate crypto signals market, and that is
Let's look at two Bitcoin rivals and explore how they change from Bitcoin, and from each other:
Ethereum (ETH) - The Ethereum coin is known as ETHER. The main difference from Bitcoin is that Ethereum uses "smart contracts" which are account holding objects on the Ethereum blockchain. Smart Contracts are defined by their creators and they are able to interact with other contracts, make decisions, store data, and send ETHER to others. The execution and services they feature are supplied by the Ethereum network, which is beyond what the Bitcoin or some other blockchain network can do. Smart Contracts can become your autonomous agent, obeying your instructions and rules for spending currency and initiating other transactions on the Ethereum network.
Ripple (XRP) - This coin and the Ripple network likewise have unique features which make it a great deal more than just an electronic digital currency like Bitcoin. Ripple is rolling out the Ripple Transaction Protocol (RTXP), a robust financial tool that allows exchanges on the Ripple network to transfer funds quickly and efficiently. The essential idea is to position profit "gateways" where only those that know the password can unlock the funds. For financial institutions, this opens up huge possibilities, since it simplifies cross-border payments, reduces costs, and provides transparency and security. This is all finished with the creative and intelligent usage of blockchain technology.
The mainstream media is covering this market with breaking news stories nearly every day, however, there is little depth for their stories... they are mostly just dramatic headlines.
The Wild West show continues...
The 5 stocks crypto/blockchain picks are up on average 109% since December 11/17. The wild swings continue with daily gyrations. Yesterday we had South Korea and China the most recent to attempt to shoot down the boom in cryptocurrencies.
On Thursday, South Korea's justice minister, Park Sang-ki, sent global bitcoin prices temporarily plummeting and virtual coin markets into turmoil when he reportedly said regulators were preparing legislation to ban cryptocurrency trading. Later that same day, the South Korea Ministry of Strategy and Finance, among the main member agencies of the South Korean government's cryptocurrency regulation task force, arrived and said that their department doesn't buy into the premature statement of the Ministry of Justice about a possible cryptocurrency trading ban.
