The following picture is quite hard to believe. For those who are new to Crypto/Digital Currency, the picture shows a snapshot of the top Digital Currencies on 23/5/2017. That´s right 7 Digital Currencies are above 1 Billion Dollars in Value!
Market Cap
The Market Cap shown in the second column can be a somewhat misleading figure for judging how much something is worth, but its a simple metric which gives an indication of the value of a asset at a point in time. It´s calculated by multiplying the current market price by the supply. So in theory you can sell any unit for that price but in practice, especially because the volumes are small a large sell order can significantly move the price. There are also fears that the market can be manipulated by certain players.
May 2017
Did I say volumes are small. That was the case in the past, but in the last few months expectations have been growing, Investment has been coming in and now, we may be witnessing the start of a new wave, something that will be as revolutionary as the internet. That is Digital Currencies and Blockchain technology.
Bitcoin is the only player in town
A misconception among many is that Bitcoin is the only Digital Currency, and they have missed the boat on it. Both of those assumptions are wrong.
Bitcoin is still a currency that has the possibility to increase many times in value.
If you wish to catch a currency that will earn you XX times returns, you may still get lucky. Some have increased over %6000 in the last few months.
Of the 7 coins shown (ex Ripple) 4 are coins who aim to replace cash and banking, to be use as a medium of exchange and store of value. The remaining 3 are slightly different. They are tokens for accessing a platform whose main aim is other purposes, but as these tokens derive value the can also be exchanged so behave like cash in may ways.
Seismic Shift
We are at the beginning of a seismic shift in the global financial, economic, even political landscape. See how far reaching the blockchain revolution will be by reading some posts I wrote a little while back Blockchain – I got to the end but it keeps growing...
Blockchain has arrived, it has matured a little, but it is still early days, its still not too late to get involved. Join Steemit.com to read more about it and even start earning some Digital Currency for yourself.
Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.
