Jay Smith is known as being the Bitcoin guy and it is his job to try and find the next big currency. He is followed by thousands of investors and he is also a leading expert when it comes to everything Bitcoin. He has talked us through everything that you need to know about Bitcoin as well as helping those who need it the most to learn more about every currency out there.
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An investor called Song believes that there is absolutely no point in investing in anything other than Bitcoin and this is the granddaddy of cryptocurrency. He also strongly believes that this will be the only one alive at the end of it all. The problem is that he has openly called Bitcoin a maximalist and that not many people should be investing in their rivals. He also believes that people should be spending money on making Bitcoin better rather than trying to make other currencies so that they are able to compete. When you combine this with a huge range of other services, you will see even currencies such as Litecoin and Ethereum are doomed as well. Song, is a very smart guy and when he talks, people tend to listen. He has made a small fortune in Bitcoin and when he says that something is true, that mostly seems to be the case. The problem is that last week he was joined on stage by someone called Joe Lubin and this is a man who has been able to build a 500 strong team who all operate apps based on ETH. This is Song’s mortal enemy, so it’s interesting to see how all of this will turn out. Song has declared that in five years’ time, Bitcoin will be the only surviving currency left. Lubin retaliated by stating that he is completely wrong and that nothing that they do will ever be able to prove that this is true.
Lubin is right, and here is why. cryptocurrencies are not just that anymore. They are assets and this is a very fitting name when you look at how the whole thing is going to come together. Over the last couple of years, there has been a huge explosion in the different types of assets and another smart man known as Don Tapscott also took to the stage to outline these and how they can benefit those who invest. If you want to find out more about this then you can find out everything that you need to know, right here.
The currency is known as being a collection of digital products. This includes Bitcoin, Litecoin, ZCash, Monero, Dash and more. This is very plain and it can easily be compared to the dollar or even the pound. This can be done in both a digital way and a global way. It is even possible for you to buy a holiday with this kind of money as well. For this reason, if you have a friend who is on the other side of the planet and you want to pay for them to book a holiday then you can do this with ease and you can get the whole thing done for a very affordable price. On top of that, you can also save a ton of money when you compare it to a bank transfer. These currencies are all based on money and they are all fuelling the internet age. They are also being accepted by widely known companies and this even includes Wikipedia, Expedia and Microsoft as well. Some of these currencies have even made their way onto the market and high street as well. Brands such as Lush and CEX were two of the very earliest companies to start adopting currencies like this and even KFC have released a Bitcoin bucket. This is only in Canada at the moment, but people can easily go and trade in their Bitcoin for fried chicken if they wanted!
Platforms include Tron, IOTA, NEO, EOS and Cardano. These are basically operating systems. They are on a blockchain that can be fully programmed and this also gives you the chance to make some of your own apps based on it as well. If you know what you are doing then you also have the chance to run some operating systems from it as well and this has the ability to do way more than just follow basic instructions. You can tell it to buy you a song, download a video or anything else of the sort and this is just one of the many benefits that you get when you opt for the platform side of things. Some of these above assets are also trying to build blockchains that can be used for standard use as well, even though they are very complicated to start out with.
These are blockchains where you actually need to have the token from the currency before you can even hope to use the application. If you look at Augur who basically killed Betfair, you will see that it is a completely revolutionary way of betting but you do need to have some Augur tokens if you ever want to do this properly. Another option here is Siacoin. This is really a dropbox and you can rent out the space that you have on your hard drive. You can do this for 80% less of the price when compared to other services that are available. Things like this are classed as being utilities and the main reason for this is because the token is accepted as a payment, even if this is done on an exclusive basis
Security tokens include BitGrail, TZero and even Recovery Right as well. They get their name from securities, and more. They are all divided up into much smaller units and they are very easy to own and very easy to transfer as well. That provides you with a huge advantage when compared and it is great for new investors. The main thing that you have to worry about here is that this type of currency has been involved in a ton of scams in the past and it has really taken a popularity hit as a result. There is a lot of suspicion with investors and that is because they would often want to opt for a token offering rather than having to deal with the fluctuation of the stock market. This is because they are trying to raise money while always trying to avoid any tricky legal representation.
So this is a quick run-through of all of the cryptocurrencies that are out there and it is also a great way for you to find out which one you should be investing in.