Over the past few years, Bitcoin has gone from being an obscure project tailored towards libertarians to a household name and major investment platform. However, the technology behind Bitcoin may already be considered outdated in comparison to many more recent crypto assets. Ian King explains how upcoming crypto assets are quickly breaching $1 billion valuations and threatening Bitcoin’s throne.
Bitcoin is Taking it Slow, and Other Crypto Assets are Catching Up Quickly
To the average investor, gains of almost 1,500 percent over the past year would never be considered “taking it slow.” However, in the crypto world, a number of assets are rocketing up at supersonic speeds, with assets such as Ethereum making gains of nearly 13,000 percent, exceeding the speed of Bitcoin’s gains by a factor of roughly eight-and-a-half. Moreso, Ethereum has caused, either directly, via its own systems, or indirectly, by inspiring aspiring blockchain developers, the creation of more than 1,000 blockchain-based projects since its inception in 2013.
As aspiring blockchain programmers and entrepreneurs find new and exciting ways to utilize the blockchain for real-world applications, new capital continues to flood into the crypto market from upcoming investors and perhaps Wall Street as well, which, in a strange turn of events, has arrived late to the crypto party. Currently, there are more than 40 crypto-based projects which are valued in excess of $1 billion. But perhaps more surprising, Bitcoin has lost its throne to Ethereum, with its market share dropping from 100 percent at its inception, to roughly 30 percent today. With coins like Ethereum, Litecoin, Ripple, and, of course, Bitcoin Cash rivaling Bitcoin itself, the lucrative crypto market may threaten its status as the crypto giant. Read this article at ZeroHedge about Ian King
It’s the 800-pound crypto gorilla in the room: crypto scams exist. Here’s how to avoid them. #crypto #cryptocurrency #bitcoin #investing #cryptocurrencies #prodeum #WallSt #WallStreet #trading #BanyanHillhttps://t.co/PYOruwgNbF
— Ian King (@IanKingGuru) February 2, 2018
Is Crypto the Future, or Just Another Bubble?
Many think that it’s both. During the dot-com bubble of the early 2000s and late 90s, there may have been a vast multitude of flops and failures, but there were also websites like Amazon and Google, which came out of the crash to eventually become some of the largest companies in the world. In much the same way, crypto assets are likely in a bubble, but that bubble still has a long way to go before it pops, and there will still be a number of crypto assets that survive, and go on to become giants larger than one could possibly imagine.
While Jesus Coin and Dentacoin may not go on to dominate the world economy, there’s certainly a massive amount of value in the crypto asset market, even after the current investment mania ends. Read:https://www.investopedia.com/contributors/82716/