Here’s some of the question that comes up often: How do I choose which crypto currency to invest in – aren’t they all the same?
There is no doubt that Bitcoin has captured the lion’s share of the Crypto News crypto foreign exchange (CC) market, and that is largely due to its FAME. This way is much like what is happening in national politics around the world, where a candidate conquers the majority of votes based on FAME, rather than any proven skill sets or qualifications to govern a nation. Bitcoin would be the pioneer in this market space and continues to garner almost all of the market headlines. This FAME does not mean that it is perfect for the responsibility, and it is fairly well known that Bitcoin has limitations and even problems that need to be resolved, however , there is disagreement in the Bitcoin world on how best to resolve the problems. As the problems fester, there is ongoing opportunity for developers to initiate new cash that address particular situations, and thus distinguish themselves on the approximately 1300 other coins in this market space. Let look at two Bitcoin rivals and explore how they vary from Bitcoin, and from each other:
Ethereum (ETH) – Often the Ethereum coin is known as ETHER. The main difference from Bitcoin is actually Ethereum uses “smart contracts” which are account holding products on the Ethereum blockchain. Smart Contracts are defined by just their creators and they can interact with other contracts, try to make decisions, store data, and send ETHER to some. The execution and services they offer are provided by the Ethereum network, all of which is beyond what the Bitcoin or any several other blockchain network can do. Smart Contracts can act as your company autonomous agent, obeying your instructions and rules just for spending currency and initiating other transactions on the Ethereum network.
Ripple (XRP) – This coin and the Ripple network also have unique features that make it much more than just a online currency like Bitcoin. Ripple has developed the Ripple Transfer Protocol (RTXP), a powerful financial tool that allows exchanges to the Ripple network to transfer funds quickly and properly. The basic idea is to place money in “gateways” where mainly those who know the password can unlock the funds. Just for financial institutions this opens up huge possibilities, as it simplifies cross-border payments, reduces costs, and provides transparency and security. This is often all done with creative and intelligent use of blockchain concept.
The mainstream media is covering this market with stopping news stories almost every day, however , there is little height to their stories… they are mostly just dramatic headlines.
The exact Wild West show continues…
The 5 stocks crypto/blockchain picks are up an average of 109% since December 11/17. The wild swings continue with daily gyrations. Yesterday evening we had South Korea and China the latest to try to fire down the boom in cryptocurrencies.
On Thursday, Southerly Korea’s justice minister, Park Sang-ki, sent global bitcoin prices temporarily plummeting and virtual coin markets right into turmoil when he reportedly said regulators were preparing legal procedure to ban cryptocurrency trading. Later that same evening, the South Korea Ministry of Strategy and Solutions, one of the main member agencies of the South Korean government’s cryptocurrency regulation task force, came out and said that their area does not agree with the premature statement of the Ministry for Justice about a potential cryptocurrency trading ban.