Blockchain technology has been called "the Internet 2.0". It is a way to decentralize not just finances but information as well. Here is a super simplified youtube video explaining it but there are also great Ted Talks about blockchain in general for further information.
Bitcoin first introduced blockchain in 2008 as an answer to the banking crisis. I remember hearing of it in 2009/10 in some of the less-then-legal websites for a very reasonable price. It is now going for over $4400. Many other companies have started their coins asking for investors in their ICO. Some have great ideas while others have been scams.
There is huge potential for gains in crypto right now. I have put very little over the past two months (mostly over the past two weeks) and am up 50%.
Businesses such as Bank of America (filed numerous blockchain patents over the past few months), VISA, Apple (looking to connect with Dash), MasterCard, housing industry from mortgages to insurance, Walmart and even the US Government (for keeping track of visas and refugees etc) are looking to establish blockchain networks.
So, any other crypto daytraders or holders (hodlers) out there? What coins do ya' have, what do you like?
I am holding onto:
- Bitcoin: because it is constant and well established
- Monero: One of their features in the fungibility. But what peaked my interest is the true anonymity of the coin. Even the government who busted one of the leaders of the biggest darkweb sites could not truly tell how much XMR (monero) he owned.
- Iota: It allows for fast micro transactions and is looking to be an easy factor for online gambling and forums
- NEO: Because they give you GAS coins for holding onto NEO coins. Businesses in turn use the GAS.
As I'm only putting little bit at a time because with great gains can come super fast losses. The crypto market is 24/7.
I'm looking to add Ethereum as their network and contract setups is a baseline for other businesses and coins as well. It is also another constant heavy hitter. Litecoin as another constant. I need to research Lisk (LSK) but they are making huge gains recently.