Here is a question that comes upwards often: How do I actually choose which crypto money to purchase - aren’t they all the same?
Presently there is no doubt that Bitcoin has captured the lion’s share of the crypto currency (CC) market, and that is largely due to its POPULARITY. This phenomenon is much like what is happening in national politics around the world, where a applicant captures the majority of votes depending on FAME, somewhat than any proven skills or qualifications to control a nation. Bitcoin is the pioneer in this market space and continues to garner almost all of the market statements. This FAME does not mean that it is exquisite for the job, in fact it is fairly well known that Bitcoin has limitations and conditions that need to be resolved, however, there is disagreement in the Bitcoin world how best to resolve the problems. As the problems intensify, there is ongoing opportunity for developers to trigger new coins that deal with particular situations, and so distinguish themselves from the around 1300 other coins in this market space. Why don’t look at two Bitcoin rivals and explore how they differ from Bitcoin, and from each other:
Ethereum (ETH) - The Ethereum coin is called ETHER. Typically the main difference from Bitcoin is that Ethereum makes use of “smart contracts” which are account Crypto News holding objects on the Ethereum blockchain. Wise Contracts are defined by their creators plus they can interact with other contracts, make decisions, store data, and send ETHER to others. The execution and services they provide are provided by the Ethereum network, all of which is past what the Bitcoin or any other blockchain network can perform. Smart Contracts can behave as your autonomous agent, obeying your instructions and regulations for spending currency and initiating other transactions on the Ethereum network.
Ripple (XRP) - This endroit and the Ripple system also have unique features which make it much more than simply a digital currency like Bitcoin. Ripple has developed the Ripple Transaction Process (RTXP), a powerful financial tool that allows deals on the Ripple community to transfer funds quickly and efficiently. The basic idea is to place money in “gateways” where only those who know the dimensions of the password can unlock the funds. For financial establishments this opens up huge possibilities, as it easily simplifies cross-border payments, reduces costs, and provides transparency and security. This is all done with creative and intelligent use of blockchain technology.
The mainstream press is covering this market with breaking news tales almost every day, however, there is little level to their stories... they are mostly just spectacular headlines.
The Wild Western show continues...
The 5 stocks crypto/blockchain picks are up typically 109% since December 11/17. The outrageous swings continue with daily gyrations. Yesterday we had South Korea and China the latest to try and capture down the boom in cryptocurrencies.
On Thursday, To the 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 organizing legislation to ban cryptocurrency trading. Later that same day, the South Korea Ministry of Strategy and Finance, one of the key member agencies of the South Korean government’s cryptocurrency regulation task force, arrived out and said that their department does not concur with the premature declaration of the Ministry of Justice about a possible cryptocurrency trading ban.
Although the South Korean government says cryptocurrency trading is nothing more than gambling, and they are anxious that the will leave many citizens in the poor house, their real concern is a lack of tax revenue. This is the same concern every government has.
China has grown into one of the world’s biggest causes of cryptocurrency mining, but now the government is rumoured to be looking into regulating the energy employed by the exploration computers. Over 80% of the electrical power to mine Bitcoin today comes from China. By shutting down miners, the us government would make it harder for Bitcoin users to confirm transactions. Mining procedures will move to other places, but China is particularly attractive due to suprisingly low electricity and land costs. When China follows through with this threat, you will have a non permanent loss of exploration capacity, which would bring about Bitcoin users seeing lengthier timers and higher costs for transaction verification.