The Bulls case for a bright future in cryptocurrency
It’s really sad that throughout my time in cryptocurrency I have seen many projects come and go. I’ve been asked the question, “Is Bitcoin dieing” so many times from friends, family and also the community. So I guess it’s best we talk about it in this weeks blog.
The Bull case
With the market in a downtrend, and a bear market for the best part of a year, why is it the list of coins on CoinMarketCap is ever growing? Why is it that, there are 1000’s of coins in the market all competing to get onto exchanges? Why are projects still managing to raise money through their ICO’s? For the latter although some hit their hard caps, other projects struggle, but regardless of the results, the markets carry on and are very much alive.
There are a lot of news articles, forums and group chats out there which will tell you Bitcoin and cryptocurrency is the next big thing. Whether you believe them is another thing altogether. In the last article (https://airdropvillage.io/bitcoin-cryptocurrency) I explained what blockchain technology is and why this is such a fundamental part to the future of cryptocurrency.
Here are just some of the reasons for crypto
1.Major corporations backing cryptocurrency
– IBM have partnered up with Stellar Lumens (XLM) for cross border payments
– Goldman-Sachs backed Circle, to launch a cryptocurrency based finance company
– Wikipedia are running a decentralised version of their site as Everipedia (IQ)
2.Celebrity Endorsements
– Floyd Mayweather endorsing Stox ICO
– Akon launching “AKoin” for the currency system in Africa
– Bill Clinton speaks about the benefits of Ripple (XRP)
3. Market Economics
– $209 billion market cap
– Coinbase is valued at $8B
– Bitmain revenue estimated at $10 billion in 2018
4. Wider Benefits
– Provides access to bank accounts to anybody with an internet connection
– Transaction transparency, which means you are able to trace where and what stage your coin is at
– Solves the double spending problem
– The BLOCKCHAIN!
– Unregulated nature of the industry (both pro and con)
I’ve not even scratched the surface on what benefits the technology brings us, BUT I hope this has given you some faith if you’re a HODL’er.
Now you know what to say the next time someone says crypto is dead.
I almost forgot the final benefit… airdrops!
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Until next time…
AirdropVillage.io Team
