This post Crypto Is a MAJOR Bubble Right Now appeared first on Daily Reckoning.
Yes, cryptocurrencies are in a major bubble.
But don’t let that word scare you away.
Crypto opportunities are NEVER going away, and generational wealth WILL be made.
I’m telling you the opportunity here is immense. Think, “internet 1994” — a lot of people got very rich before that bubble burst.
One day soon, “B.C.” will stand for “before crypto” and “A.C.” will stand for “after crypto.”
Right now we’re living in early years of “A.C.”
It’s time to get ready… the world is about to change.
Cryptos ARE The Natural Evolution of Currency
First it was the land you owned and the resources you developed on that land (wheat, grains, etc.).
Then it was metals. Gold, silver, etc. You traveled with it by fashioning it into jewelry. Too much gold equals harder to travel.
Paper currency. Backed first by gold but then… by faith in God (“in God we trust”) or government. (Or a pyramid… with an eye in it???)
Electronic currency. Easily transportable. But transaction fees all over the system. Zero privacy.
Now we have cryptocurrencies. Easily transportable, zero transaction fees, no human intervention between payer and payee, high anonymity and strong functionality.
Money evolves like anything else and the natural evolution of money is always as a store of value that is easier to move, more secure and more private.
Cryptos also make transactions easier. Transactions have the same history and the same issues. How can you transact across a large geographic area with fewer fees, fewer costs, less chance for human error, higher security and privacy?
Cryptocurrencies ARE the natural evolution of money.
Here’s the BAD Part
With bitcoin, for example, a list of transactions is sent out to the network in the form of a “block.” Miners, who are slowly paid in more bitcoin up to a maximum of 21 million, validate a transaction.
Problem 1: If a transaction doesn’t make it into a block (on bitcoin), it waits a certain period of time to get into the next block. This means it might take more time.
Problem 2: Another problem is that everyone can “see” the transaction on what is called the blockchain. They can’t see who made it, but they can see the size and other details.
The good news is these are problems that can be eliminated.
But until then, many cryptocurrencies are a big risk and can lead to a lot of overvalued coins.
That’s setting the stage for a perfect bubble situation.
Surviving The Burst
Uncertainty breeds volatility. Cryptocurrencies are going to be volatile for a while.
But why does volatility create opportunity?
Because it’s rare that intrinsic value changes much day to day.
If you can identify the cryptocurrencies that are legitimate (have strong intrinsic value), then you can make a lot of money playing off the volatile situation in crypto.
And that’s where I come in…
I want to help the many people who have been scammed by all sorts of schemes duping people into buying or trading “bad” crypto.
My solution is simple.
Research, diversification and building a network of intelligence …read more
Source:: Daily Reckoning feed
The post Crypto Is a MAJOR Bubble Right Now appeared first on Junior Mining Analyst.