What Cryptocurrency Speculators can learn from the Dot.com Crash

Crashes, bubbles, and busts have little impact on technology’s long-term development. Looking back from 2018, the dot.com bust did not slow ecommerce’s development.

Crashes and busts will make cryptocurrency stronger. For example, the dot.com bust killed off most of the weak, fraudulent, and unrealistic internet stocks. For instance, garbage like Pets.com, Boo.com and Webvan went down the drain. On other hand, good companies like Amazon got stronger.

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BNY Mellon eyes a $20 Billion Cryptocurrency Market

The hope is to offer cold storage for up to $20 billion worth of cryptocurrency. Cryptocurrency exchanges and brokers want cold storage because custodians would take the problems and liabilities associated with storage.

For example, many exchanges and brokers have a hard time getting insurance for stored assets. However, established custodians like BNY Mellon already have such insurance.

On the positive side, all that is standing between companies and BNY Mellon and cryptocurrency storage is SEC approval. On the negative side, the cryptocurrency market has dropped dramatically in recent weeks losing up to 80% of its value.

The cryptocurrency market is certainly huge, BNY Mellon estimates that there are 1,000 cryptocurrencies with a market capitalization of $400 billion. On the other hand, US equities have a market capitalization of $25 trillion.

Therefore, cryptocurrency is a small portion of the global economy. However, cryptocurrency is growing fast.

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Why Uphold is potentially the Most Disruptive Blockchain Application

Uphold has the potential to destroy fiat currencies because it offers fast conversion.

Uphold offers fast conversion of some very shaky fiat currencies. Its currency list includes the Danish Krone, Kenyan Shilling, Mexican Peso, Indian Rupee, Brazilian Real, Polish Zloty, and Philippine Peso.

Importantly, the list also contains some of the most stable currencies including the Swiss Franc, New Zealand Dollar, Australian Dollar, and Japanese Yen. Therefore, anybody could use Uphold to his or her money into gold or Swiss Francs.

For example, if Mexico’s president announces currency devaluation every Mexican with a smartphone can convert her pesos to dollars. Affluent Mexicans can buy Swiss Francs or gold if they wish.

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How Cryptocurrency is changing the World

Cryptocurrency will emerge from the correction stronger than ever and with a greater power to disrupt. Those who expect the market correction to be the end of cryptocurrency will be sadly mistaken.

Cryptocurrencies and smartphones give middle and working class people the ability to create alternative digital economies.

Those economies function outside of the government paper economy. Such economies are developing in Venezuela, Colombia, and Africa. A long-term effect will be to give citizens the ability to ignore government economic policies and potentially central banks.

It is already possible to evade currency controls, price controls, devaluation, and other economic policies at the touch of an app. Uphold claims you can transfer funds through cryptocurrency, fiat currency, and gold through its Android and Apple apps.

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What is Spectrecoin?

Spectrecoin’s team is trying to develop a proof-of-stealth algorithm. The problem with that is you would only be able to demonstrate proof-of-stealth by tracking transactions.

Therefore, the transactions would not be anonymous or stealth. Absurdly, Spectrecoin’s creators promise to create “stealth addresses,” there is no way an address can be stealth. If an address exists it can be traced.

Worst of all, Spectrecoin’s developers make an impossible claim for they product. The developers claim Spectrecoin will deploy a fully anonymous system at some point.

The only way for a system to be fully anonymous is for nobody to use it. If nobody is using Spectrecoin it would have no value.

To it differently, you cannot trust Spectrecoin because its creators are making impossible and questionable claims. For instance, Spectrecoin claims to be stealth but has a list of addresses that can be stolen and traced.

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A New Kind of ICO: Workcoin and EOS Lynx

Workcoin (WRK) will need a huge capitalization because Needly is trying to build a blockchain marketplace for freelances. The plan at Workcoin is to create a cryptocurrency-powered alternative to Upwork.

Needly is trying to attract freelancers and employers to Workcoin with Zero Fees, Real Identity and Escrow. Unlike Upwork, Workcoin will pay freelancers in cryptocurrency and require users to have an authenticated GitHub or LinkedIn profile and credentials.

Needly is planning to make money by offering flat rate services. The hope is that flat rate services will attract more users and create a larger market volume.

On the positive side, iPhone & Android apps for Workcoin are in existence. On the negative side, it is not clear if anybody can find work through them. I have attracted no responses from my Workcoin profile.

The potential market for Workcoin is vast because many freelancers dislike Upwork and its competitors. Upwork is unpopular because it charges up to 20% for most transactions.

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Top Blockchain Leaders Coming to Bulgaria for FashionTV Party by NEXT BLOCK

This time around, the NEXT BLOCK is supported by the world’s largest exchange in trade volumes OKEx, the world leader in global payments Paysafe, and the leader for tracking capitalization of various cryptocurrencies CoinMarketCap. More than 20 distinguished guests will share their insights and experiences in the blockchain space.

Keynote speakers Bitcoin Foundation board member Bobby Lee and CryptoCoinNews Editor-in-Chief Simon Cocking as well as other blockchain experts discussed the future of ICOs, simplifying public relations for blockchain ventures, and even the first music label on the blockchain.

Later on, they will join participants in a luxurious after party courtesy of Fashion TV, featuring a performance by Bulgarian superstar Vessy Boneva and a set by DJ Funkster.

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Will a Cryptobank make Money at Crypterium?

Crypterium’s virtual cards are potentially a billion dollar idea if they work and payment providers accept them. App based payment is big business; the most popular solution Tencent Holdings’ WeChat Pay had 600 million users in August 2017, Statista reported. Alipay reportedly had 400 million users and PayPal had 210 million users in August 2017.

Crypterium is probably worthless without a widely issued central-bank issued cryptocurrency. The cards might hold value as gift cards used at online merchants.

To succeed Crypterium will have to solve the cryptocurrency convertibility and liquidity problems.

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Is the Blackmoon Cryptocurrency a Good Investment?

An inherent advantage is that it involves no human experts. Instead, Mr. Market himself picks the cryptocurrencies. Another inherent advantage is that it pays no high fees to the experts because there are no “experts.”
Therefore, Blackmoon’s index funds are trustless investing. Trustless mechanisms eliminate the need to trust a human expert or gatekeeper by relying on simple automatic actions.

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How an Emerging Markets Currency Crisis will Cause Coin Prices to Explode

A fast-moving emerging markets crisis can greatly increase demand for cryptocurrencies. Altcoin prices could shoot up as residents of crisis nations seek safe havens for their money.

Cryptocurrency is the easiest and fastest way for Argentines, Turks, Venezuelans, and others to move their money out of country. All a person needs to convert funds to altcoins is a credit card and an internet connection. Anybody can download a digital wallet, and buy cryptocurrency in a few seconds.

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