Due to the fact of the bear market in crypto currency and blockchain technology nowadays, most especulator who invest in the recent bull run are taking there stakes to avoid more loses and think it is just a fad or bubble. While critics always throws stories about cryptocurrency that it is for illegal activities, scam and all other sort of negative stuff.
This is the exact event happened in the late 90’s when the so called internet pops. People think it is not going to succeed and no one wants to use it other than those people who is on illegal activities.
Look at the internet now, it is widely adopt around the globe of all ages. Even your little one is using YouTube watching nursery rhymes. Newspapers shift to internet long before shoppers start to embrace online shopping.
Do you think it could come into reality back in the 90’s? Of course not if you are among the people who afraid to embrace change. But for the people who sees the future, they already see this event will come to life.
Now that the history repeats itself once again in the form of blockchain technology and cryptocurrency. Especulators and critics thinks it is just a fad or bubble that pops in the late 2017 and early 2018.
Reason why cryptocurrency price went into unrealistic peaks.
The only reason why the recent bull run comes into that unrealistic peaks happened in late 2017 and early 2018 is because, especulators over hype cryptocurrency news and many people jump into cryptocurrency and invest into ICO to take away money. But instead of taking profits with them they take lost due to the no brainer investment scheme they made.
Now to retaliate, this no brainer especulators keep throwing negative news and stories about cryptocurrency and blockchain technology. They claimed they’re scam and blamed all the looses to the technology which in fact it is all there fault.
And for those investor who have lost fate in blockchain technology and cryptocurrencies due to the fact of the current bear market, they will turning back from the future and follow the path of missing out.
The blockchain technology and cryptocurrency is still on it’s infancy or at the stage of illimination. Where in the best, already working, helpful and problem solver is here to stay and the become a future. While the over hype, scam bait and not working blockchain will illiminates and gone forever.
Blockchain technology and Cryptocurrencies is the future.
What you are seeing now is the same FUD, just like what the internet was getting in the early 90’s. In fact if you joined the bandwagon today, you are became one of those lucky sole being called as the early adapters to cryptocurrencies and blockchain technology! Your lucky because, it will be the future.
Why do I say that cryptocurrencies and blockchain technology become the future.
Look inside your wallet or purse, what is in there? Perhaps some paper bills, coins, credit card, debit card, loyalty card or bank account number. Did you know that you don’t really own those valuable you think you own?
Yes, it doesn’t belong to you. The paper bill and coins is solely own by the government. While the digital cash your starring at when you checked your credit card, debit card and loyalty card balance is also not really yours. They belong to the card issuer, the only thing you own is the plastic cards.
Probably you think that I am insane, telling stuff with no basis. Here is the scenario, have you ever experienced to lost some money from your savings bank account. And then you made a call to the bank customer service hotline to file dispute, then the person on the other side get some of your personal information and promise you a callback that in fact you will waiting for nothing.
Then you call them back to follow up the status of your dispute but instead of getting the answer you are expecting. They again get some of your personal information to which according with just a confirmation. And get another promise list of promises.
It will repeatedly happened again and again until you lost your patience and let it go. What if that same thing will one day happened in a big scale. ATM machines go offline and the bank declare bank holiday. Then you call the bank customer hotlines and only the automated answering machine answered your call.
If that happened one day all your money will gone and those plastic card you own is just a worthless garbage. The same thing on what happened to the government back paper bills and coins. With over productions it will devalued and become just a rubbish one day.
But with cryptocurrencies as long as you safe keep the private keys of your holding your valuable will be yours forever. Even if the whole internet will gone offline once it is restored your money is there, safe and sound over the blockchain. Likewise, the production of cryptocurrencies is limited unlike fiat cash that is prone to inflations.
What is best blockchain so far?
At this point I suggest you to make your own research too. But in my opinion, the best blockchain and cryptocurrency is the one that have a helpful and working product. Beware of hypes and over rated with no live product. The following are on my list;
Steem blockchain focused it’s mission and vision to a censore less social media and smart contract platform. Unlike centralized social media, the user of this platform is being paid for there effort and contribution. As of the moment, steem blockchain already generate an over a billion dollars of reward and pay it to it’s users.
However, the pitfall of steem blockchain economy was it is prone to inflation rate. Because, number of steem will be doubleb year after year.
But when it comes to a working product, it is I think a established decentralized blogging platform, gaming platform, community of like minded individual and more and more decentralized application will come since the development is continues.
You can access the steem blockchain blogging platform using the following apps, steemit.com, busy.org. Games is through steemmonster.com, staging.drugwars.io. For Android and iOS, you may download esteem or partiko app.
Bitcoin is the pioneer, leading cryptocurrency and one of the most busy blockchain. The only way you get Bitcoin is to buy it from the exchange or by mining.
The pitfall of Bitcoin in my opinion is it was forked so many times which I think it’s reputation as unique blockchain was lost. In addition, it doesn’t offer any live product other than being a payment processor and value storage.
Since, the development continues, maybe one day Bitcoin Blockchain will also introduced it’s own live product that is somehow useful to human kind.
It’s sometimes second or third in market cap, ethereum blockchain at the moment houses hundreds of decentralized games, thousand of smart contract and nearly hundred thousand of dApps as the development continues.
The only pitfall of ethereum blockchain in my opinion is the network clogging due to the Smart Contracts and dApps running on it’s network.
But when it comes to it’s economy, ETH do featuring max supply. Therefore, holders not to worry about it the inflation.
You can obtain ethereum (ETH) from exchange or mine for it.
Ripple is a centralized blockchain that operates under the bank supervision. 100% premined and can only obtain from buying it to exchange.
Pitfall of Ripple in my opinion are the following; for being a centralized blockchain, govern by banks which somehow a reason why many investors will jumping in because they know how greed bank is, and 100% of coins are all mines.