Why Cryptocurrency Is The Future?
You may have already started to realize the potential of how blockchain technology will mold our future. It is a much more secure way of holding and storing data, it is decentralized, EMPOWERS USERS, provides high quality data, creates automation, can create faster transactions, in some cases create immutability or audit trails. The potential is nearly limitless. Over the course of the next 5-10 years, and its hard to imagine what may happen over the next 50 years, industries are going to be revolutionized by blockchain technology. We are only in the beginning of cryptography. This is like the internet of the 90s and the dot com era. Currently cryptocurrency adoption is at about 0.1-0.2%. The growth rate of crypto currency is about a 100% a year, so were about doubling every year. So let me explain that to you. At 0.1-0.2% of people currently using cryptocurrency, about 1 out of 1,000 to 1 out of every 500 people are active. We will be doubling every year so three to four years well be at around 1% adoption. So 1 out of a 100 people. Three to four years later will be at about 10% adoption. And then three to four years later will become ubiquitous, much like FaceBook is right now. Essentially, we are just in the beginning. Today only about 1 in every 1,000 people are involved in the crypto space. Imagine getting in on FaceBook at that stage. So lets talk about how you can benefit from this A YouTube Cryptocurrency News Host, Analyst and Educator #1 Cryptocurrency FaceBook Group: Log into Facebook | Facebook In many ways, Bitcoin & Gold & USD , these three is the triumvirate of the contemporary financial world. Each one of them demonstrates an age and each one of them has its own value. Bitcoin is the most recent and contemporary currency which usually called as a crypto Continue reading >>
Cryptocurrencies Are Like Lottery Tickets That Might Pay Off In Future
Cryptocurrencies are like lottery tickets that might pay off in future The likes of bitcoin may well be worthless but theres a chance they will be valuable someday Last modified on Mon 10 Dec 2018 07.01EST Could bitcoin pay off in a dystopian future?Photograph: ronniechua/Getty Images/iStockphoto With the price of bitcoin down 80% from its peak a year ago, and the larger cryptocurrency market in systemic collapse, has peak crypto come and gone? Perhaps, but dont expect to see true believers lining up to have their cryptocurrency tattoos removed just yet. At a recent conference I attended, the overwhelming sentiment was that market capitalisation of cryptocurrencies could explode over the next five years, rising to $5-10tn (4-8tn). For those who watched the price of bitcoin go from $13 in December 2012 to roughly $4,000 today, this years drop from $20,000 was no reason to panic. It is tempting to say, Of course the price is collapsing. Regulators are gradually waking up to the fact that they cannot countenance large expensive-to-trace transaction technologies that facilitate tax evasion and criminal activity. At the same time, central banks from Sweden to China are reali sing that they, too, can issue digital currencies. As I emphasised in my 2016 book on the past, present, and future of currency, when it comes to new forms of money, the private sector may innovate, but in due time the government regulates and appropriates. Only a fool would have bought into bitcoin late last year. So guess what I did? | Arwa Mahdawi But as I also pointed out back then, just because the long-term value of bitcoin is more likely to be $100 than $100,000 does not necessarily mean that it definitely should be worth zero . The right way to think about cryptocurrency coins is as lottery tick Continue reading >>
Insights On The Future Of Cryptocurrency As 2018 Draws To An End
Insights on the Future of Cryptocurrency as 2018 Draws to an End Insights on the Future of Cryptocurrency as 2018 Draws to an End The idea of cryptocurrencies (digital currencies that are cryptographically encrypted) has been moving around in the academic circles since the 1970s. The idea, however, took on form and shape with the arrival of Bitcoin in 2009. Over the last 9 years, Bitcoin has grown on to be disruptive in the fields of monetary policy, finance, economics, and e-commerce and it has spawned an industry of more than 2,000 coins, tokens, and altcoins in what is being generally referred to as the cryptocurrency market. Interestingly, the cryptocurrency market peaked last year when the price of Bitcoin rallied more than 1400% to $19,000 and the market cap of the cryptocurrency market skyrocketed to almost $700B. However, in the year-to-date period, the trading price of Bitcoin has crashed about 53% to about $6,500 and the market cap of the crypto market has declined more than 56% to $209B. Now, no one knows for sure how cryptocurrencies will fare going forward. Theres an ongoing debate on whether cryptocurrencies will become the future of money or whether the idea will eventually fade into oblivion if it is unable to build up a critical mass. This piece provides insights into how the fate of cryptocurrencies might pan out going forward. Bitcoin is still the biggest and most popular cryptocurrency in the market; in fact, the first interaction that most people have with cryptocurrency and blockchain technology can be traced to Bitcoin. Bitcoin currently has a dominance of about 53% of the cryptocurrency market; hence, its price often determines how other coins and the general cryptocurrency market will fare. Going forward, the realities of the market suggests th Continue reading >>
Are Cryptocurrencies The True Future Of The World's Economy?
Are Cryptocurrencies the True Future of the World's Economy? Takeaway: Cryptocurrencies, powered by blockchain technology, could be the next step in financial evolution, but some barriers will first need to be overcome. Although some people say that cryptocurrencies represent the true future of the world economy, critics argue that no matter how significant they could be, they will always be confined to an internet phenomenon. The real-time exchange markets are still plagued by many issues that prevent them from truly competing with the traditional ones. Can the blockchain world still avoid the centralization danger by focusing on the agility of smart app-based technologies such as Qtum and cryptocurrency ATMs? Financial inclusion is a fundamental aspect of our world that determines the quality of our lives. Families and companies need to have quick and reliable access to affordable financial services such as credit and insurance to face unexpected emergencies, absorb financial shocks, expand business, and invest in health, education and housing. Globally, 69 percent of adults have an account with a financial institution, but this percentage drops significantly in the developing world, meaning that more than one-third of them lack any form of financial access. Digital payments clearly are on the rise, especially since a large number of unbanked people possess a cell phone that can be used to keep a digital wallet . In Sub-Saharan Africa, for example, mobile money account ownership rose from 12 percent to 21 percent. Cryptocurrencies are, therefore, a potentially powerful democratizing force that can increase inclusion and allow fast transactions without any intermediary involved, even in the most impoverished regions of the world. (To learn more, check out 5 Industries Continue reading >>
The Future Of Cryptocurrency
A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. Cryptocurrency made the leap from being an academic concept to (virtual) reality with the creation of Bitcoin in 2009. While Bitcoin attracted a growing following in subsequent years, it captured significant investor and media attention in April 2013 when it peaked at a record $266 per bitcoin after surging 10-fold in the preceding two months. Bitcoin sported a market value of over $2 billion at its peak, but a 50% plunge shortly thereafter sparked a raging debate about the future of cryptocurrencies in general and Bitcoin in particular. So, will these alternative currencies eventually supplant conventional currencies and become as ubiquitous as dollars and euros someday? Or are cryptocurrencies a passing fad that will flame out before long? The answer lies with Bitcoin. Bitcoin is a decentralized currency that uses peer-to-peer technology, which enables all functions such as currency issuance, transaction processing and verification to be carried out collectively by the network. While this decentralization renders Bitcoin free from government manipulation or interference, the flipside is that there is no central authority to ensure that things run smoothly or to back the value of a Bitcoin. Bitcoins are created digitally through a mining process that requires powerful computers to solve complex algorithms and crunch numbers. They are currently created at the rate of 25 Bitcoins every 10 minutes and will be capped at 21 million, a level that is expected to be reached in 2140. These characteristics make Bitcoin fundamentally different from a fiat currency , which is backed by the full faith and credit of its government. Fiat currenc Continue reading >>
Where Will Cryptocurrency Be In The Next 510years?
Where will Cryptocurrency be in the next 5 10years? Cryptocurrency isnt all just lambos and spaceship memes, there are some world changing technologies at playhere. In the next 510 years I can see cryptocurrency being a part of our regular lives the same way current technologies like the internet and mobile communications are. Here is how see cryptocurrency in the future: You want to send money back home to your grandma who lives on the other side of the world? No problem, you just sent her $5,000 and it only took 4 seconds and cost you less than a cent to do so. Your business partner in Dubai who is helping you start a hotel franchise needs the franchise fee and he needs it ASAP. No problem, thanks to Ripple you just had $150,000 sent from your business account into your partners business account. You didnt even have to wait 3 days, it got there in just 3 seconds and again it cost you less than a cent. Since money is not the only thing that can be sent over the blockchain, we can expect download or file transfer times to be reduced to only a few minutes or seconds. Blockchain based copies of games, music, videos or books will be sent to your wallet at speeds that would make todays file transfer services look primitive. We can already download 1GB files in less than 10 minutes using services like Mega, now imagine a network of blockchains that allow near instant data transfers. People will be paying for games and playing them within minutes. Everyone will use cryptocurrencies, whether they are aware of it or not Money transfer is not the use that cryptocurrencies have, they are also used as transaction fees and to pay for services like smart contracts. In the future, businesses will use blockchains like Ethereum and Stellar to deploy self-executing smart contracts acro Continue reading >>
How Low Will Bitcoin Go? 'crunch Time' For Cryptocurrency As Experts Predict 2019 Price
How low will bitcoin go? 'Crunch time' for cryptocurrency as experts predict 2019 price Market analysts point to previous price patterns to make predictions for next year In December 2017,the price of bitcoin was approaching $20,000 aftermonths of miraculous growth had pushed itsprice up by more than 2,000 per cent since the start of year. There seemed no end in sight to the cryptocurrency being hailed as the future of money , as newly-minted early adopters encouraged newcomers to invest in the digital gold rush. But twelve months later the Christmas miracle has transformed into a bleak midwinter for bitcoin. A series ofswift price crashes in late December and early January, followed by months of steady decline, has left bitcoin trading at just $3,450 its lowest value since August 2017. The question investors are now asking is how much further bitcoin can fall? Recent forecasts from market analysts predictmore losses , at least in the near future, with some pointing to bitcoin's previous price patterns. Since its inception in 2009, bitcoin has experienced five major correctionswith an average drop in value of 85 per cent. In order to realise this same percentage drop, bitcoin would need to fall to below $3,000. 1/8 Satoshi Nakamoto creates the first bitcoin block in 2009 On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System' 2/8 Bitcoin is used as a currency for the first time On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices Bitcoin soon gained notoriety for its use on the dar Continue reading >>
Does Cryptocurrency Have A Green Future?
Since Bitcoin first appeared on the scene a decade ago, attitudes towards cryptocurrencies have been mixed. Some have responded enthusiastically from the very beginning, others dismissed the concept out of hand. For most people however, the overriding feeling has been one of caution. While the soaring value of Bitcoin has left many of its earliest proponents feeling vindicated, its evolution has not been entirely good news. Bitcoin seems to have successfully fended of the negative press that came from its association with illicit markets. Bitcoin first gained mainstream prominence, and infamy, as the exchange medium used on the dark web, where it became an anonymous payment method for purchasing drugs, guns, and worse. However, in the time since, Bitcoin has proven itself as a legitimate digital currency. It can be used to purchase an increasing range of goods and services. There are even services out there that allow people to pay their household utility bills using cryptocurrencies, including Bitcoin. While Bitcoin might have successfully shed its image as being only used by criminals, it has another image problem developing. There is a growing awareness that Bitcoin mining, the process by which new coins are added to the network, is having a significant environmental impact. While the precise numbers are difficult to calculate, given the multitude of hardware combinations a mining operation might employ, but one study implies that Bitcoin mining is drawing as much electricity as a small country. This would be a problem at the best of times, but given that there is such a great general awareness of the environmental challenges our planet is facing, now and in the near future, this kind of image problem could prove to be Bitcoins undoing. During the early days of Bitc Continue reading >>
The Future Of Cryptocurrency: Why It's Here To Stay | Emerging Tech & Innovation | Techworld
The future of cryptocurrency: Why it's here to stay Cryptocurrency is gaining ground, but could it one day replace national, fiat currencies? Laurie is a staff writer for IDG titles including Techworld, Computerworld UK and CIO UK. She studied psychology followed by a Masters in Journalism, and has since worked in marketing and as a freelance consumer insight writer. Her particular interests include consumer tech, startup tech culture and how technology is shaping society. When the topic of cryptocurrency comes up, conversation inevitably circles back to the latest price fluctuations in bitcoin. But while this might be interesting in as much as bitcoin is a bellwether for cryptocurrency as a whole, where the future of cryptocurrency is concerned, the borders of discussion extend well beyond the behaviour of this particular coin. Bitcoin was the first cryptocurrency to launch 10 years ago, and admittedly progress has been slow since then with regards to mainstream adoption. However, the tide is turning: an increasing number of legitimate blockchain companies are launching, more banks and enterprises are experimenting with blockchain and crypto, and legitimate cryptocurrency exchanges have been set up in places like Malta and Gibraltar. So, the question is, is crypto here to stay? And in what ways is it likely to evolve? "One way to pose this question is to think about the functions of crypotocurrencies - what functions can they fill that are similar to what existing asset classes or instruments fulfil? At the most basic level, it's three things: The unit of account (like dollars); its store value (like gold, platinum, or any other precious commodity); or as a bet on the future of blockchain," says Aleh Tsyvinski, Professor of Economics at Yale University and author of a Continue reading >>
Decentralized Cryptocurrencies Are The Future
On the July 23 I wrote an article about cryptocurrency decentralization called Dogecoin for Decentralization . In the last few days the price of dogecoin has rocketed. The key point of the article was that I trust the decentralized, permissionless, consensus based cryptocurrencies firmly rooted in the bitcoin whitepaper dream of an unstoppable digital global currency. I dont extend that trust to the centralized coins and tokens, with their un-minable blockchains owned and controlled by who knows who. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] There is tension between centralism and decentralization and it is a political dynamic as old as civilization. The decentralized dream is partly about society going to the next level where layers of the value draining middle-men we suffer now are gone. These middle men tell us what to do, tell us what to think and charge us for the privilege as they gatekeep the juiciest intersections of our economies. Like the internet broke the information stranglehold, the blockchain will break many economic choke points. The ability of the blockchain to do this is real. For this reason blockchain and crypto are not loved by the monoliths of our economy, because a blockchain and its cryptocurrency could vaporize their entire business model in the same way Amazon has laid waste to retail. The calculus is simple, if blockchain is more thermodynamically efficient than the old school bricks and mortar rent-seeking alternative, blockchain technology will overcome. If not, then the incumbents have nothing to fear. But fear they do. The market will go to the most efficient system and that is why so many entrenched f Continue reading >>
How Cryptocurrency Is The Future For The Economyworld?
How Cryptocurrency Is the Future for The EconomyWorld? Some people state that cryptocurrencies describe the real future of the world economy, critics claim that no matter how important they could be, they will forever be limited to an internet phenomenon. The real-time exchange markets are still troubled by several problems which block them from actually struggling with the traditional ones. Can the blockchain world, however, avoid the centralization crisis by concentrating on the activity of smart app-based technologies like Qtum and cryptocurrency ATMs? In order to help to settle some of these problems, cryptocurrencies started the rise in 2009, leveraging a disruptive technology described blockchain. A cryptocurrency is a digital currency which utilizes cryptography for protection. Blockchain mainly deals with the process in which the data is structured and allows for the presence of decentralized digital ledgers where particular organizations arent authorized to effect transactions. Presently, Bitcoin and Ether are the currency which is used to control the Ethereum blockchain are the two most broadly used cryptocurrencies. By the current growth in popularity of cryptocurrencies, several investors are presently working to discover by which way to invest in this new asset type. As with any investment into the latest technology, there are several circumstances to view when evaluating their future. In order to create a notified decision, one must study at the roots of the technology as well as the potential applications and weaknesses in the foreseeable future. The main aim is to judge, what the price of Bitcoin (BTC) and Ether (ETH) in USD in the following 5 years using thorough quantitative and qualitative study. From this analysis, make the decision of a proper inve Continue reading >>
The Role Of Cryptocurrencies In Future Society
The Role Of Cryptocurrencies In Future Society Global network connection. Vector Illustration Following the collapse of the cryptocurrency market in June, many in the professional community have been asking big questions about what role cryptocurrencies play in society. It seems that economists and digital innovators are divided on the role that cryptocurrencies and blockchain might play in the financial system. I reached out toNavroop Sahdev and asked her to do a series of interviews to help us better understandthe role of cryptocurrencies in future society, of which this is the first. Navroop is an economistand specializes in blockchain technologies both as a researcher and practitioner. She maintains her childhood curiosity and often sounds more like a social anthropologist than an economist. Her TEDx talk on complex systemsand innovation is amust watch for helping to understand how the networked world we live in works and can help us innovate and move from centralized systems. Navroop and I share many interests and communities, most recently we were both speaking at the UN SDG Frontier Finance Summit on how blockchain technologies can help to scale the financing and transparency of projects to help achieve the UN's Sustainable Development Goals (SDGs) by 2030 . Lawrence Wintermeyer: Are cryptocurrencies valuable to society? If so, what is the main job cryptocurrencies will do for society in the future? Navroop Sahdev: Cryptocurrencies can certainly be very valuable to the global economy, and to society in general. Money has always played a critical role in the evolution of society. In order to understand the role cryptocurrencies can play in our future society, lets look at what money does. Money provides four basic functions; it serves as a store of value, an exch Continue reading >>
Will 2019 Be The Year Ofbitcoin?
The future of cryptocurrencies is uncertain. We cant tell what the future will hold for cryptocurrencies but we can, at the least, guess what direction the crypto industry might take- in a years time, in 5 years time and in a decades time. The first move will be the adoption of blockchain technology . This will inspire institutional investments that will open up a gold mine where values will rise and cryptocurrency will be worth a lot of money. What this means is that cryptocurrencies wont become a dead investment and, eventually, it will become the major adoptable. The cost of Bitcoin went up over $20,000 in December 2017, which aroused the interest of those with no previous interest in cryptocurrency. A great future was announced for virtual coins, where many predicted positive outcomes for the Bitcoin exchange rate in 2018. Assurances were made over the future increase in the value of Bitcoin, leading to an increase in mining and the recognition of cryptocurrency in different countries. However, at the beginning of 2018, something unforeseen happened where the rate of Bitcoin sharply dropped. The beginning of February saw the value of Bitcoin falling below $7,000. The price of virtual coins was hit by a bearish trend, in spite of significant surges. This trend alarmed both potential and current investors. The price leveled out by mid-summer and in July 2018, a bullish trend was finally observed. Cryptocurrencies are deemed to become a gold mine in the next few years where we will see high values being sustained for quite some time, though the picture is much bigger than this. The year 2019 and beyond will be the era for adoption. The value of currencies will stabilize and they will no longer prove to be good investments. This, in turn, could open up a new market for Continue reading >>
What Does The Future Look Like For Cryptocurrency?
The fintech revolution is in full swing, with companies cropping up to assist with the possible transfer to a new way of conducting financial operations. Cryptocurrency has already commanded a huge audience and shown us ways in which we can use the underlying blockchain functionality to improve current systems. The cryptocurrency boom, bubble, and revolution have been referenced many times , but what could we actually expect from cryptocurrency moving into 2019, having seen its benefits and changes through the past few years? Institutional money predicted to enter the market Some predict that the next few years will see a big change in crypto as institutional money enters the market. This means that those with the big enough investments to really take the revolution forward. Indeed, the number of daily cryptocurrency interactions is up year on year, which shows growth, despite some citing the waning nature of investors wanting to get involved. Moreover, there is the possibility that crypto will be floated on the Nasdaq, which would further add credibility to blockchain and its uses as an alternative to current financial options. But some predict that all that crypto needs is a verified exchange traded fund (ETF). An ETF would definitely make it easier for people to invest in Bitcoin, but there still needs to be the demand to want to invest in crypto, which some say may not automatically be generated with a fund. Some also cite that in 2019 were going to see a shift in the leading force behind cryptocurrency. Granted, Bitcoin opened the vault and allowed the mainstream to understand the complexities of a cryptocurrency and of blockchain in general. Some say that Ethereum added to this and showed that there could be possibilities beyond the tokens. But most will argue th Continue reading >>
What Will Be The Future Of Cryptocurrencies?
Future Money explains in plain language and convincing detail how our money system is propelling us toward the self-destruction of our species - and what we should do about it. Our present money system frustrates the well-meaning efforts of active citizens, NGOs and governments to deal with our present ills and problems - including worldwide poverty, environmental destruction, social injustice, economic inefficiency and political unrest and violence within and between nations. Failure to reform the world's money system urgently and radically - that is, from its roots up - could bring disaster for human civilization before the end of this century. Future Money shows clearly how our money system operates and how it could be reformed so that it acts for the benefit of people and society rather than the opposite, and describes the obstacles that currently prevent that reform. The world's financial experts and leaders in politics, government and business, and most mainstream academic and media commentators, have demonstrated that they are not yet able or willing to diagnose and treat the profound and pervasive problems that are directly caused by the money system. Future Money speaks explicitly to active, independent-minded citizens, including young people, with the hope that it will help them to understand why people committed to careers in almost every important walk of life today find it difficult to recognize the problem and grasp the nettle. It shows why we have to take the initiative now, and urgently, to get the issue on to mainstream agendas worldwide. James Robertson, who has been described as "the grandfather of green economics", worked in the Cabinet Office and as a researcher for British banks. In the 1970s he was one of the co-founders of The Other Economic Sum Continue reading >>