The Crypto-future through Bitcoin, Ethereum, Ripple XRP and IOTA

Peering into the Crypto-Future 

By Phil Baumann RN

In order to gain a clearer view of the impacts of the incoming future of technologies and their economic, behavioral, cultural, political and other impacts, categorization can perform useful veil-lifting.

I’ll let the reader do the deep-dive research into the technologies underlying each of these currencies, but here is a peeled-away breakdown of their respective categories:

Whether these specific “coins” succeed the slaughtering rapidity of techno-culture shocks remains to be seen.

Yes, they are traded assets that can make you rich or poor. That’s certainly interesting. What matters much more than their capital markets is that each has attempted to confront crucial problems that can liberate the ramifying “potential energies” of other technologies that can plug in to them.

Their premises spur economy-generating economies.

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Don’t feel bad if you missed the Bitcoin gold-rush. That’s in the past. Sometimes understanding the world confers its own wealth (insert Latin aphorism here). If you run the currency of knowledge through the circuitry of imagination you gain the power of foresight.

Assessment:

That’s my two cents: take them and spread the wealth.

Disclosure: I hold Bitcoin (BTC), Ethereum (ETH), Ripple XRP and IOTA (MIOTA). But this post is not about finance per se nor is it about promoting these currencies as investments. Rather this post is about envisioning the four kinds of markets that the respective technologies underlying each of these four cryptocoins can help grow and power. These aren’t simply currencies and stores of monetary value – they are technologies.

Conclusion

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16 Responses

  1. Digital currencies may be the future, but Bitcoin certainly isn’t getting any more practical just yet

    Ever tried to buy a sandwich using Bitcoin? Probably not.

    While some banks are flirting with digital money, using the world’s most notorious cryptocurrency in real life remains inconvenient for most people.

    First, even in cities with so-called Satoshi Points—stations where you trade local cash for Bitcoin—it’s still hard to find stores willing to accept the currency. But perhaps more troubling is that Bitcoin transaction fees rose above $5 in June, making small purchases totally impractical.

    https://www.technologyreview.com/s/608088/chinas-central-bank-has-begun-cautiously-testing-a-digital-currency/?utm_source=MIT+Technology+Review&utm_campaign=5bb37239c1-The_Download&utm_medium=email&utm_term=0_997ed6f472-5bb37239c1-154253973

    Dr. David Marcinko MBA

    Like

  2. BLOCKCHAIN Update

    State of Delaware Passes Law to Make Blockchain-based Stock Trades legal.

    https://thebitcoinnews.com/state-of-delaware-passes-law-to-make-blockchain-based-stock-trades-legal/

    Miguel

    Like

  3. Initial Coin Offerings

    What Every Entrepreneur Needs to Know about ICOs: http://atdc.org/atdc-news/initial-coin-offerings-every-entrepreneur-needs-know/

    Morris

    Like

  4. Did somebody say bubble?

    Bitcoin’s price blew past $9,000 for the first time this week, just a week after doing the same to the $8,000 milestone. And that was barely the quickest thousand-point rally in Bitcoin’s history; it only took eight days to go from $3,000 to $4,000 way back in August.

    Now, it looks likely to break another speed record by hitting $10,000 as early as today or tomorrow. It seems fair to hypothesize that the incredible rate at which Bitcoin’s price has been busting through big round numbers this year has helped fuel the mania driving up the price.

    https://www.msn.com/en-us/money/markets/as-bitcoin-scrapes-dollar10000-an-investment-boom-like-no-other/ar-BBFSDdd?li=BBnbfcN

    But where does it all end?

    Dr. David Marcinko MBA

    Like

  5. Atlanta lands major bitcoin ATM installation

    The world’s largest bitcoin ATM provider is bringing its largest installation to-date to Georgia.

    Coinsource has placed 18 of its bitcoin ATMs in Atlanta which, along with two in Athens, add 20 new units to Georgia’s current bitcoin ATM network. Coinsource says the installation is in response to demand in the region – Georgia is a Top 3 market in the U.S.

    https://hypepotamus.com/news/coinsource-bitcoin-atm-georgia/?ito=792

    Dr. David Edward Marcinko MBA CMP™

    Like

  6. Ether

    Speaking on Thursday at Yahoo Finance’s All Markets Summit in San Francisco, U.S. Securities and Exchange Commission director of Corporate Finance William Hinman said that digital token ether is not a security.

    Why matters:

    The digital currency industry has been awaiting for more regulatory clarity for some time, particularly around widely popular cryptocurrencies like ether and bitcoin. SEC chairman Jay Clayton recently said that the latter is akin to a currency, much to the relief of the industry.

    Note: While Hinman declared ether not a security, he was careful to specify that he’s referring to the token today.

    • “Putting aside the fundraising that accompanied the creation of Ether… current offers and sales of Ether are not securities transactions, ” he said. “Over time, there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required,” he added, echoing recent comments by SEC Commissioner Hester Peirce who also posited that some digital tokens may seem like securities when first issued, but could change in status over time.

    • This is important as it signals that it’s not a blanket pass for all tokens, and that the commission will be focused on issuance of tokens and how they fit in with securities laws.

    Still in question: Whether Ripple’s XRP token is considered a security or not.

    AXIOS

    Liked by 1 person

  7. Ethereum wants to change the world. It’s running out of time

    A little over a month ago, Tech Review’s Mike Orcutt traveled to Prague to experience Devcon, the “family reunion” for Ethereum, the most famous cryptocurrency after Bitcoin. He spoke to the people at its heart and found that the entire undertaking is on a knife-edge.

    The dream: Unlike Bitcoin, Ethereum’s disciples want it to serve as a general-purpose computing platform that could, they believe, enable entirely new forms of social organization. For the true believers, it could change the world.

    Questions: But Ethereum is facing some big technical questions, including how to speed the entire process up and make it more energy-efficient. There are also some more existential questions that include: how can it organize more effectively without losing its prized decentralization, and how to stop relying on its enigmatic creator, Vitalik Buterin. Meanwhile many cryptocurrency investors have been scared away: Ethereum’s market value in dollars has fallen more than 90% since its peak last January.

    The future: At Devcon, everyone still believes in the project (there is much hugging, idealism and unicorn-themed clothing.) But the truth is, Ethereum is running out of time. How long will they have to pull it off?

    https://www.technologyreview.com/s/612507/ethereum-thinks-it-can-change-the-world-its-running-out-of-time-to-prove-it/?

    Lloyd

    Like

  8. CRYPTO

    This crypto exchange can’t repay the $190 million to customers because the CEO died with the only password.

    http://www.msn.com/en-us/money/markets/this-crypto-exchange-cant-repay-the-dollar190-million-to-customers-because-the-ceo-died-with-the-only-password/ar-BBT9CtW?li=BBnbfcN

    Chase

    Like

  9. What about that FB crypto project?

    If Libra is the Thanksgiving turkey you tried deep frying but caught on fire, Facebook Pay is the backup rotisserie chicken.

    •Libra co-creator David Marcus recently acknowledged that Facebook’s positioning of Libra as a “new currency” (rather than “payments platform”) probably contributed to the sour reception.

    Zoom out: With 31% of the global population using its platforms, Facebook thinks it can disrupt payments with one of these approaches.

    Zekel

    Like

  10. Cryptocurrency:

    Bitcoin, the world’s largest cryptocurrency, hit an all-time high yesterday, summiting the peak it set about three years ago. Analysts point to greater commitments from big finance players—like PayPal and Square—for driving last month’s 40% rally.

    Non-cryptocurrency: The dollar had its worst month since July, which is a sign investors stayed away from the safe haven asset and piled into riskier bets.

    Commodities: Gold, also considered a safe haven for investors, had its worst month since 2016.

    Frank

    Like

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