Affiliate marketing and cryptocurrencies are two different types of online industries that can be used to make money, but they have some key differences.
Affiliate marketing involves promoting products or services for a company and earning a commission on sales that are generated through your unique affiliate link. This can be a lucrative way to make money online, as you can earn passive income by promoting products that you believe in and that have a strong market demand.
Affiliate marketing requires investing time and effort into creating content and building a dedicated audience to promote products to, but it can be a sustainable income stream if done correctly.
Cryptocurrencies, on the other hand, involve investing in digital assets that can increase or decrease in value over time. Cryptocurrencies are decentralized and can be used for a variety of purposes, such as online transactions or investment opportunities.
While investing in cryptocurrencies can be highly profitable, it also comes with a higher risk due to the volatile nature of the market. Cryptocurrencies require knowledge of the industry and market trends to make informed investment decisions.
In conclusion, affiliate marketing and cryptocurrencies are both viable ways to make money online, but they come with different opportunities and risks. Affiliate marketing requires time and effort to build a successful income stream, while cryptocurrencies involve investing in digital assets that can potentially provide significant returns but also carry a higher risk.
Everyone no matter their age, they all want to know how to be rich, how to hack life and make it financially. The significant driving force has been the perception that wealth or money means everything or can buy you all and make you happy. Millions of books have been written since the ancient times and yet you will find yourself looking for more and hopefully direct and easy ways around how to just make it. Well, you did great reading this article since you will see that most of what you need to make it you already have it.
Most young people just want to hack life and make it all at once without that effort nor patience of learning. This has created severe habits such gambling and fraud as a means to get rich quick. The other vice that has risen due to the elusive fact that all can make it is a generation of desperate and drug-addicted youths who believe that their fate is already sealed. This article is a wakeup call and a call to action to drop page thumping and expecting to find that one magical trick. You are all that you need.
How to start.
To begin with, by reading this means that you are ready and willing to make something out of yourself, get your head straight now and acknowledge that you have a working brain and a desire to make it.
The second move is to dream and make sure that you do not just imagine. The moment you can visualize anything in your head means that you can be able to make it happen for real.
Go ahead and write down your plan and evaluate how you are planning to achieve that. This, therefore, has to begin with small ideas and seeing them through. You cannot start planning for a Ferrari, and you do not own an account even. Start small and be patient to look at the fruits of your hard work.
Patience as a value comes in hand even when managing your wealth later in life. You have to carry out planned and well-calculated risk and wait patiently and trust in yourself that it will work.
The other thing is growing some balls because the moment you start investing you will have to be ready for risks and failures. Do not dwell on the failures instead move on and have better plans, do not lose focus but keep the desires, and all will work eventually.
Lastly, when you start making something, reinvest and work to grow bigger. Instead of celebrating and blowing up everything take it back and let it grow. Always have the mentality of safeguarding the capital you input at any time and then re-invest the profits for growth.
Conclusion.
The smart ones only win the money game and wealth creation. By accessing such information, you have been made smart, and that means you can go forth and grow yourself to whatever level you want.
You can always find more interesting articles here or hire my writing services. Reach me via mikiepirate12@gmail.com
Over the past few years, people have been talking a lot about cryptocurrency. At first, this business sounded scary but people started developing trust in it. You may have heard of Ether and Bitcoin. They both are crypto currencies and use the Blockchain Technology for highest security possible. Nowadays, these currencies are available in several types. Let's know more about it.
How Can cryptocurrency help you?
As far as fraud is concerned, this type of currency can't be faked as it's in digital form and can't be reversed or counterfeited unlike the credit cards.
Immediate settlement
Buying real property involves third parties, such as lawyers and notary. So, delays can occur and extra costs may incur. On the other hand, Bitcoin contracts are designed and enforced in order to include or exclude third parties. The transactions are quick and settlements can be made instantly.
Lower fees
Typically, there is no transaction fee if you want to exchange Bitcoin or any other currency. For verifying a transaction, there are minors who get paid by the network. Although there is zero transaction fee, most buyers or sellers hire the services of a third-party, such as Coinbase for the creation and maintenance of their wallets. If you don't know, these services function just like Paypal that offers a web-based exchange system.
Identification of theft
Your merchant gets your full credit line when you provide them with your credit card. This is true even if the transaction amount is very small. Actually, what happens is that credit cards work based on a "pull" system where the online store pulls the required amount from the account associated with the card. On the other hand, the digital currencies feature a "push" mechanism where the account holder sends only the amount required without any additional information. So, there is no chance of theft.
Open access
According to statistics, there are around 2.2 billion people who use the Internet but not all of them have access to the conventional exchange. So, they can use the new form of payment method.
Decentralization
As far as decentralization is concerned, an international computer network called Blockchain technology manages the database of Bitcoin. In other words, Bitcoin is under the administration of the network, and there is no central authority. In other words, the network works on a peer-to-peer based approach.
Recognition
Since cryptocurrency is not based on the exchange rates, transaction charges or interest rates, you can use it internationally without suffering from any problems. So, you can save a lot of time and money. In other words, Bitcoin and other currencies like this are recognized all over the world. You can count on them.
So, if you have been looking for a way to invest your extra money, you can consider investing in Bitcoin. You can either become a miner or investor. However, make sure you know what you are doing. Safety is not an issue but other things are important to be kept in mind. Hopefully, you will find this article helpful.
Bitmora is the new game changing development of today. If you are into digital currencies, we suggest that you check out Bitmora cryptocurrency exchange.
When you think of starting a business, the first thing that comes to mind is money/capital. Of course, you need money to start a business, even if it is very little considering the fact how easy it is to start a business in the digital age. However, there could be many other factors that affect a business in today's digital economy-some you show serious concern to and some you don't really pay attention to much.
Blockchain Is Affecting All Types of Businesses
One of the biggest concerns for today's entrepreneurs before they start business is probably blockchain or crypto technology. The world is seeing the rise of crypto technology and how it is being integrated into the existing business ideas. A little more than a couple of years ago, you must have heard the term "bitcoin". From bitcoin, people still believe that blockchain is all about digital currency i.e. money in the digital world. However, this is far from truth. Blockchain is expected to affect all types of businesses and industries in the world in the coming days.
It is a technology that redefines the security aspect of many businesses in 2018, introduced decentralization in modern business technologies and benefits the end consumers in multiple ways. For example, you could launch a gaming platform where no one needs the existing currencies. You could launch your own platform with your own money today. You don't really have to start everything from the scratch; instead you could base your currency on the existing blockchain platforms like Ethereum. Through ICOs, you could have investors from around the world invest in your idea. So, blockchain is definitely a consideration for all businesses starting in 2018 and the coming years.
Physical Warehouses Are Not Necessary
A few years ago, only a certain types of business could be called truly online businesses. For businesses where products have to be stored for some time, a complete online presence was not the solution. Entrepreneurs who had such business ideas in mind had to have enough money to have their own warehouses. However, this has also changed quite a bit in the past couple of years. With the idea of drop shipping becoming common with time, it is becoming easier for businessmen to start their own businesses without much investment.
In a drop shipping model, all you have to do is collect orders from customers, forward those orders to the manufacturers or suppliers and have the goods shipped. You only act as a liaison in this particular model because it is the supplier that sends the products directly at the customers' doorsteps. You will still need an online store with all the products listed for customers to see. However, you don't need any warehouses because you don't have to own, buy or store any products. The good thing is that this model now allows drop shippers to offer much more competitive rates so penetrating into the market is easier for them.
Big Data Is the Big Difference
Another technology that has been influencing business decisions and the way businesses operate is big data. While the term "big data" seems that you are referring to just large amounts of data but in reality, you are also referring to the methodologies and technologies that are in use to handle big data. You will be completely wrong to think that traditional software and hardware solutions can deal with big data in any way. Let's take the example of a bank. A bank could have hundreds of branches located all around the country. In these hundreds of branches, the bank will have hundreds of thousands of customers.
The bank has account information of hundreds of thousands of these customers. In addition to that, the bank is constantly investing in stock and foreign markets, storing and utilizing that information. The same bank handles the data of all micro and macro loans it is forwarding to its customers. It is also storing information about customers through its mobile application to know what customers expect from the mobile website. On all of those hundreds of branches, the bank also has CCTV cameras collecting terabytes of footage on a daily basis.
Do you think all this data goes to waste? No, the data bank collected from banks is utilized in making bank branches securer. Data from mobile devices helps bank refine their mobile application. Data collected through financial softwares helps a bank improve its insurance, loan, mortgage, etc. offerings. It may seem on the surface that big data is a headache for big businesses only, but big data is just as important for small businesses as well. What this mean is that businesses starting in 2018 will have to have a big data approach right from day one.
Internet Security Is the Biggest Threat Now
It is unfortunate that rather than making the world a safer place, the new technology has led to greater internet threats. Cyber attacks are becoming more frequent with time, and much more sophisticated too. In the past few years, cyber attacks on some of the biggest companies of the world, including tech companies have proved that security has to be the major concern for every business-small, mid-scale or large. If you think starting a new business or having a small business gives you any advantage over large ones.
As a matter of fact, it's the small businesses that are at a higher risk when they are under any type of cyber attack. This is because large businesses have the technologies and capital to fight the attack, recover and get back on their feet again. On the other hand, small businesses usually don't have any of that.
Final Thoughts
The challenges for any small businesses in 2018 are much bigger and technology-related than they have ever been in the past. The need of the time for small business owners in 2018 is to say goodbye to the traditional thinking and embrace new technologies to be successful. They must also remember that in the modern age and coming years, every business is (like) a tech business to some extent due to its dependence on technology to collect customer data, create marketing campaigns and secure customer information.
More detailed information and useful advice can be found at http://www.Funded.com.
Bitcoin has lead the crypto world for so long, and so dominantly that the terms crypto and Bitcoin are often used interchangeably. However, the truth is, the digital currency does not only comprise of Bitcoin. There are numerous other crypto currencies that are part of the crypto world. The purpose of this post is to educate our readers on cryptocurrencies other than Bitcoin to provide them with a wide range of options to choose from - if they intend on making crypto-investments.
So let's get started with the first name on our list, that is:
Litecoin:
Launched in 2011, Litecoin is often referred to as 'silver to Bitcoin's gold.' Charlie Lee - MIT graduate and former engineer at Google - is the founder of Litecoin.
Similar to Bitcoin, Litecoin is a decentralized, open source payment network which functions without a central authority.
Litecoin is similar to Bitcoin in many ways and often leads people to think: "Why not go with Bitcoin? Both are similar!". Here's a catch: the block generation of Litecoin is much faster than that of Bitcoin! and this is the main reason why merchants around the world are becoming more open to accepting Litecoin.
Ethereum:
Another open source, decentralized software platform. The currency was launched in 2015 and enables Smart Contracts and Distributed Applications to be built and run without any downtime.
The applications on Ethereum platform require a specific cryptographic token - Ether. According to the core developers of Ethereum, the token can be used to trade, secure, and decentralize just about anything.
Ethereum experienced an attack in 2016 which saw the currency split into two parts: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies, Ethereum is second most popular and is right behind Bitcoin.
Zcash:
Zcash came out in the later part of 2016. The currency defines itself as: "if Bitcoin is like http for money, Zcash is https".
Zcash promises to provide transparency, security, and privacy of transactions. The currency also offers the option of 'shielded' transaction so the users can transfer data in the form of encrypted code.
Dash:
Dash is originally a secretive version of Bitcoin. It is also known as 'Darkcoin' due to its secretive nature.
Dash is popular for offering an expanded anonymity which allows its users to make transactions impossible to trace.
The currency first appeared on the canvas of digital market in the year 2014. Since then, it has experienced a large fan following over a very short span of time.
Ripple:
With a market capitalization of over $1bn, Ripple is the last name on our list. The currency was launched in 2012 and offers instant, secure, and low-cost payments.
The consensus ledger of Ripple doesn't require mining, a feature which makes it different from Bitcoin and other mainstream crypto currencies.
The lack of mining reduces the computing power which ultimately minimizes the latency and makes transactions faster.
Wrap Up:
Although Bitcoin continues to lead the pack of crypto, the rivals are picking up the pace. Currencies like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity each day. Going by the trend, the other cryptos are here to stay and will soon be giving Bitcoin a real tough time to maintain its stature.
Talha Farooq is a Bitcoin enthusiast and an author for http://www.btcwonder.com. Do not hesitate to land in his inbox via talhafarooq717@gmail.com
In the times that we're living in, technology has made unbelievable advancement as compared to any time in the past. This evolution has redefined the life of man on almost every aspect. In fact, this evolution is an ongoing process and thus, human life on earth is improving constantly day in and day out. One of the latest inclusions in this aspect is cryptocurrencies.
Cryptocurrency is nothing but digital currency, which has been designed to impose security and anonymity in online monetary transactions. It uses cryptographic encryption to both generate currency and verify transactions. The new coins are created by a process called mining, whereas the transactions are recorded in a public ledger, which is called the Transaction Block Chain.
Little backtrack
Evolution of cryptocurrency is mainly attributed to the virtual world of the web and involves the procedure of transforming legible information into a code, which is almost uncrackable. Thus, it becomes easier to track purchases and transfers involving the currency. Cryptography, since its introduction in the WWII to secure communication, has evolved in this digital age, blending with mathematical theories and computer science. Thus, it is now used to secure not only communication and information but also money transfers across the virtual web.
How to use cryptocurrency
It is very easy for the ordinary people to make use of this digital currency. Just follow the steps given below:
You need a digital wallet (obviously, to store the currency)
Make use of the wallet to create unique public addresses (this enables you to receive the currency)
Use the public addresses to transfer funds in or out of the wallet
Cryptocurrency wallets
A cryptocurrency wallet is nothing else than a software program, which is capable to store both private and public keys. In addition to that, it can also interact with different blockchains, so that the users can send and receive digital currency and also keep a track on their balance.
The way the digital wallets work
In contrast to the conventional wallets that we carry in our pockets, digital wallets do not store currency. In fact, the concept of blockchain has been so smartly blended with cryptocurrency that the currencies never get stored at a particular location. Nor do they exist anywhere in hard cash or physical form. Only the records of your transactions are stored in the blockchain and nothing else.
A real-life example
Suppose, a friend sends you some digital currency, say in form of bitcoin. What this friend does is he transfers the ownership of the coins to the address of your wallet. Now, when you want to use that money, you've unlock the fund.
In order to unlock the fund, you need to match the private key in your wallet with the public address that the coins are assigned to. Only when both these private and public addresses match, your account will be credited and the balance in your wallet will swell. Simultaneously, the balance of the sender of the digital currency will decrease. In transactions related to digital currency, the actual exchange of physical coins never take place at any instance.
Understanding the cryptocurrency address
By nature, it is a public address with a unique string of characters. This enables a user or owner of a digital wallet to receive cryptocurrency from others. Each public address, that is generated, has a matching private address. This automatic match proves or establishes the ownership of a public address. As a more practical analogy, you may consider a public cryptocurrency address as your eMail address to which others can send emails. The emails are the currency that people send you.
Understanding the latest version of technology, in form of cryptocurrency is not tough. One needs a little interest and spend time on the net to get the basics clear.
Whether it's the idea of cryptocurrencies itself or diversification of their portfolio, people from all walks of life are investing in digital currencies like. If you're new to the concept and wondering what's going on, here are some basic concepts and considerations for investment in cryptocurrencies.
What cryptocurrencies are available and how do I buy them?
With a market cap of about $278 billion, Bitcoin is the most established cryptocurrency. Ethereum is second with a market cap of over $74 billion. Besides these two currencies, there are a number of other options as well, including Ripple ($28B), Litecoin ($17B), and MIOTA ($13B).
Being first to market, there are a lot of exchanges for Bitcoin trade all over the world. BitStamp and Coinbase are two well-known US-based exchanges. Bitcoin.de is an established European exchange. If you are interested in trading other digital currencies along with Bitcoin, then a crypto marketplace is where you will find all the digital currencies in one place. Here is a list of exchanges according to their 24-hour trade volume.
What options do I have to store my money?
Another important consideration is storage of the coins. One option, of course, is to store it on the exchange where you buy them. However, you will have to be careful in selecting the exchange. The popularity of digital currencies has resulted in many new, unknown exchanges popping up everywhere. Take the time to do your due diligence so you can avoid the scammers.
Another option you have with cryptocurrencies is that you can store them yourself. One of the safest options for storing your investment is hardware wallets. Companies like Ledger allow you store Bitcoins and several other digital currencies as well.
What's the market like and how can I learn more about it?
The cryptocurrency market fluctuates a lot. The volatile nature of the market makes it more suited for a long-term play.
There are many established news sites that report on digital currencies, including Coindesk, Business Insider, Coin Telegraph, and Cryptocoin News. Besides these sites, there are also many Twitter accounts that tweet about digital currencies, including @BitcoinRTs and @AltCoinCalendar.
Digital currencies aim to disrupt the traditional currency and commodity market. While these currencies still have a long way to go, the success of Bitcoins and Ethereum have proven that there is genuine interest in the concept. Understanding the basics of cryptocurrency investment will help you start in the right way.
Salman Jaffry is an experienced content writer. He writes on various topics related to investment and finance. You can contact him him through his Skype ID: salman.jaffry or email: contactshj@gmail.com.
Article Source: https://EzineArticles.com/expert/Salman_Jaffry/2496004
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Bitcoin (BTC) is a new kind of digital currency-with cryptographic keys-that is decentralized to a network of computers used by users and miners around the world and is not controlled by a single organization or government.
It is the first digital cryptocurrency that has gained the public's attention and is accepted by a growing number of merchants. Like other currencies, users can use the digital currency to buy goods and services online as well as in some physical stores that accept it as a form of payment. Currency traders can also trade Bitcoins in Bitcoin exchanges.
There are several major differences between Bitcoin and traditional currencies (e.g. U.S. dollar):
Bitcoin does not have a centralized authority or clearing house (e.g. government, central bank, MasterCard or Visa network). The peer-to-peer payment network is managed by users and miners around the world. The currency is anonymously transferred directly between users through the internet without going through a clearing house. This means that transaction fees are much lower.
Bitcoin is created through a process called "Bitcoin mining". Miners around the world use mining software and computers to solve complex bitcoin algorithms and to approve Bitcoin transactions. They are awarded with transaction fees and new Bitcoins generated from solving Bitcoin algorithms.
There is a limited amount of Bitcoins in circulation.
According to Blockchain, there were about 12.1 million in circulation as of Dec. 20, 2013. The difficulty to mine Bitcoins (solve algorithms) becomes harder as more Bitcoins are generated, and the maximum amount in circulation is capped at 21 million. The limit will not be reached until approximately the year 2140. This makes Bitcoins more valuable as more people use them.
A public ledger called 'Blockchain' records all Bitcoin transactions and shows each Bitcoin owner's respective holdings. Anyone can access the public ledger to verify transactions. This makes the digital currency more transparent and predictable. More importantly, the transparency prevents fraud and double spending of the same Bitcoins.
The digital currency can be acquired through Bitcoin mining or Bitcoin exchanges.
The digital currency is accepted by a limited number of merchants on the web and in some brick-and-mortar retailers.
Bitcoin wallets (similar to PayPal accounts) are used for storing Bitcoins, private keys and public addresses as well as for anonymously transferring Bitcoins between users.
Bitcoins are not insured and are not protected by government agencies. Hence, they cannot be recovered if the secret keys are stolen by a hacker or lost to a failed hard drive, or due to the closure of a Bitcoin exchange. If the secret keys are lost, the associated Bitcoins cannot be recovered and would be out of circulation. Visit this link for an FAQ on Bitcoins.
I believe that Bitcoin will gain more acceptance from the public because users can remain anonymous while buying goods and services online, transactions fees are much lower than credit card payment networks; the public ledger is accessible by anyone, which can be used to prevent fraud; the currency supply is capped at 21 million, and the payment network is operated by users and miners instead of a central authority.
However, I do not think that it is a great investment vehicle because it is extremely volatile and is not very stable. For example, the bitcoin price grew from around $14 to a peak of $1,200 USD this year before dropping to $632 per BTC at the time of writing.
Bitcoin surged this year because investors speculated that the currency would gain wider acceptance and that it would increase in price. The currency plunged 50% in December because BTC China (China's largest Bitcoin operator) announced that it could no longer accept new deposits due to government regulations. And according to Bloomberg, the Chinese central bank barred financial institutions and payment companies from handling bitcoin transactions.
Bitcoin will likely gain more public acceptance over time, but its price is extremely volatile and very sensitive to news-such as government regulations and restrictions-that could negatively impact the currency.
Therefore, I do not suggest investors to invest in Bitcoins unless they were purchased at a less than $10 USD per BTC because this would allow for a much larger margin of safety.
Otherwise, I believe that it is much better to invest in stocks that have strong fundamentals, as well as great business prospects and management teams because the underlying companies have intrinsic values and are more predictable.
Disclosure: Victor Liang has has no positions in Bitcoins and has no plans to change his position in the next 72 hours.
Everywhere, you see headlines with impressive thousand percent gains for "coins" like bitcoin. But what gives them value? When have you ever used bitcoin?
The truth is that it's not practical right now, primarily due to the amount of time it takes to complete a transaction. But there are other coins out there that are emerging as viable candidates to succeed bitcoin as the No. 1 cryptocurrency.
There's a lot to understand about the intricacies of cryptocurrencies, but this article is more about finding an investment opportunity than explaining the science behind them.
A Bubble in Bitcoin?
One thing that's important to know is the concept of "mining." This is the very basis of cryptocurrencies. That's how new bitcoins are made.
In simple terms, the "miner," through special software, solves a complex math problem and is rewarded with new bitcoins as a result. Then, the transaction is stored in the blockchain, and those new bitcoins are officially in circulation.
As more bitcoins are in circulation, mining them becomes more complicated and time-consuming, and less profitable. So even though about 80% of possible bitcoins are in circulation right now, the last one won't be mined until 2140.
As most people know by now, bitcoin has seen a gigantic rally this year. In fact, it's up about 1,200% over the past year, causing a lot of people to think it's in a bubble.
The total value of bitcoins in circulation is now over $150 billion. If bitcoin was a company, it would be in the top 50 largest in the United States.
I personally believe that the only reason bitcoin is so much more valuable than any other cryptocurrency is because it was the one that first broke through to the mainstream. That's still important, though. It, at the very least, gives other coin developers something to improve on.
The good thing is that even if you think you've missed the boat with bitcoin, there are plenty of other cryptocurrencies out there. Of course, some are scams, but others have real potential.
One of the ones that I believe has real, practical use is called Dash.
Dash: Digital Cash
First, Dash is ahead of the game in terms of convenience. Right now, bitcoin transactions take about 10 minutes to an hour on average. Dash is setting out to be the primary cryptocurrency that can be transferred instantly (in less than one second) between parties, making it much more practical when it comes to buying things online or at a store.
One of the most appealing features of Dash is that 10% of the newly mined coins are given to the Dash DAO (decentralized autonomous organization). Simply put, the DAO is the treasury of Dash. At the current price of more than $600 per coin, that's $4 million per month that it can use.
It's important to know that no other coin has this kind of continuous funding. With this money, the Dash DAO can develop and market the currency.
Also, anyone can submit an idea for a project to enhance the value of Dash. Then, the project is voted on by thousands of Dash developers. An example would be partnering with stores to make Dash a viable means of transaction for their goods.
Of course, these developers make money from Dash, so anything that benefits and promotes the currency will be enticing.
This creates a circular effect, where the currency appreciates in price because it's better funded and marketed, then the DAO makes more money, and it's able to market Dash even more.
A Breakthrough for Dash
So far, Dash can be used at over 300 physical stores and over 100 websites to purchase goods or services. But the breakthrough for it could come from the marijuana industry.
Right now, banks are not allowed to have anything to do with marijuana transactions; everything has to be done in cash. Vendors can't even put money from their sales in a bank.
Not only does this bring the risk of being robbed, but these companies have to pay for cash storage and transportation. That adds up quickly.
Being able to use Dash would be huge for these vendors. It would also mean great things for the price of Dash.
The good news is that it has already started making progress. In April, Dash partnered with a digital payment system called Alt Thirty Six, which has partnerships with some of the leading dispensary business management software companies in the country.
These software companies track transactions for hundreds of dispensaries and delivery services. That means that Dash users already have hundreds of ways to use the currency.
Since Dash officially became a payment method on Alt Thirty Six on October 11, its price has gone up 118%. That's only in a month and a half.
Just the Beginning
With a market cap of only $4.8 billion compared to bitcoin's $156 billion, I believe Dash still has plenty of room to climb going forward.
The marijuana industry is just the start for Dash, but it's a great one. In 2016, legal sales were about $7 billion. Another estimated $46 billion was sold on the black market.
And as more stores open and marijuana becomes legal in more states, that legal number is expected to be $23 billion by 2021 and $50 billion by 2026.
Again, this is just the beginning for Dash. Its unique immediate transaction feature makes it a viable alternative to cash, giving it an edge over other cryptocurrencies like bitcoin.
Ian Dyer is one of the top internal analysts for Banyan Hill Publishing. He graduated from Duquesne University with a degree in finance. He has passed the Level 1 and 2 CFA exams to become a Level 2 CFA, and will soon complete the final Level 3 exam. Becoming a Level 3 CFA demonstrates an analyst's thorough command of economics, accounting, portfolio management, stock and bond valuation, and more. For the last few years, Ian has utilized these skills to analyze valuable investment recommendations for Banyan Hill's 300,000 readers. Read more here.
Gold and Bitcoin have been used synonymously as safe havens and currencies. What is a safe haven?
It is a place to park wealth or money when there is a high degree of uncertainty in the environment. It has to be something that everyone can believe in even if the current institutions, governments or players in the business game are not available. The wealth has to be kept safe in times of trouble.
What are the risks to someone's wealth? There is theft by robbery if it is a physical asset. There is damage by fire, flood or other elements. There is the legal issue in not being able to determine if the asset is really yours or not. There is access risk in that you may own the asset but may not be able to get your hands on it. You may own the asset but may not be able to use it due to some restriction. Who else do you have to rely on to be able to use your wealth - spending it, investing it or converting it into different units of measure (currencies)?
In cases like cash or currencies, you may have the asset and can freely use it, but it does not have value due to a systemic issue. There may be too many units of the currency such that using them would not purchase very much (hyperinflation). There is also devaluation - where a currency is arbitrarily devalued due to some economic or institution issue. Most of these issues come from too much debt and not enough assets to pay for them. A currency devaluation is like a partial or slow motion bankruptcy for a government or issuer. In a foreclosure scenario, the creditors (or users of the currency) would be getting a fraction of what the asset (or currency) was originally worth.
No Liability
One key aspect for both bitcoin and gold is that in creating either of them, there is no liability involved. National currencies are issued with interest attached, which means there is a liability to the issuer of the currency. The currencies due to being centralized can also be "delisted" or have their value altered, devalued or swapped for other currencies. With Bitcoin, there would have to be consensus among the players for this to happen. Gold is nature's money, and since it was found, there is no one really in charge of how it works. Gold also has the history of being used as money for thousands of years in virtually every culture and society.
Bitcoin does not have this reputation. The internet, technology and power grid are needed for Bitcoin to function, whereas gold just is. The value of gold is based on what it is being exchanged for. The value of Bitcoin is similar to buying a stock or a good: It is determined by what the buyer and seller agree it is worth.
Bitcoin Issues
Are there regulatory, institutional or systemic risks with Bitcoin? The answer is yes. What if a bunch of central banks or governments took over the Bitcoin issuance? Would this not lead to control issues that could either stop the Bitcoin transactions or impair them? What if the justification was to stop terrorism or illegal activities?
There are also technology issues like who controls the internet, the electrical energy involved in mining Bitcoins, or other issues in infrastructure (the electrical grid, the nuclear grid, the internet servers, the telecom companies etc.) Regulatory risks can also run the gamut from restricting who buys Bitcoins, how many can trade each day or perhaps issuing trillions of units of fiat currency and buying and selling Bitcoins with them which would cause convulsions in the prices of the unit, leading to mistrust and lack of use?
Gold does not have these shortcomings. Once it is mined, it cannot get destroyed. It is not reliant on technology, infrastructure or any institution to make it valid. Since it is small and portable, it can be taken anywhere and still be useful without any other mechanism needed. The prevailing institutions can be changed many times and gold will still be valuable.
Gold is a classic safe haven because it does not need institutions to exist, is very hard to forge, cannot be destroyed by the elements and does not have issues of access or restrictions. Physical theft and restriction may be factors, but gold fares better than currencies or digital currencies at this point in time.
Do you want to:
Learn how the world of money really works without the need of a time consuming or expensive course of study?
Discuss what you want to achieve according to your horizon?
Restructure your finances to achieve your goals?
Advice that is not affiliated with any institution or any product - an independent opinion?
If you answered yes to any of these questions, contact me at: Contact me, Joe Barbieri by email at joetheinvestor.today@gmail.com, my web site at http://www.joetheinvestor.ca or by telephone at 647-286-8020 for an independent consultation on what your options are. Note: This article is intended for people who want to learn about the world of finance and how to research for themselves. If you would like to buy or sell investment products, or specific advice on investment products, tax or legal issues, please consult your investment advisor, accountant or legal counsel
Everyone has heard how Bitcoin and other crypto currencies have made millionaires of those who bought as recently as a year ago. Gains of 1,000% or more are not just possible, they have been common place with many of these crypto currencies. Someone who bought Bitcoin in May 2016 at less than $500, would have had a gain of 1,400% in about 17 months. Then over the past few days, we saw Bitcoin lose almost $1,000, so to say these crypto currencies are volatile would be a massive understatement.
Since the inception of Bitcoin in 2008, we at Trend News have been skeptical of crypto currencies' ability to survive, given that they present a very clear threat to governments who want to see and tax all transactions. But while we may still be cautious on the actual crypto currencies, we are very aware of the potential of the underlying technology that powers these electronic currencies. In fact, we believe that this technology will be a significant disruptor in how data is managed, and that it will impact every sector of the global economy, much like how the internet impacted media.
Here are some questions & answers to get us started...
Q: What are Crypto Currencies?
The most well known crypto currency (CC) is BITCOIN. It was the first CC, started in 2008. Today there are more than 800 CC's, including Ethereum, Litecoin, Dash, Zcash, Ripple, Monero, and they are all "virtual". There are no "physical" coins or currency.
Q: How do CC's work?
CC's are virtual currencies that exist in very large distributed databases. These databases use BLOCKCHAIN technology. Because each Blockchain database is widely distributed, it is thought to be immune to hacking, as there is no central point of attack and every transaction is visible to everyone on the network. Each CC has a group of administrators, often called "miners", who validate transactions. One CC called Ethereum uses "smart contracts" to validate transactions. Crypto TREND will provide more details in upcoming news publications.
Q: What is BLOCKCHAIN?
Blockchain is the technology that underpins all CC's. Each transaction for the purchase, sale, or exchange of CC's is entered into a BLOCK that is added to the chain. This technology is complex and will not be explained here, but it has the potential to revolutionize the financial services industry, as transactions can be executed quickly and easily, reducing or eliminating fees. The technology is also being examined for applications in many other industries.
Q: Are CC Exchanges regulated by government?
For the most part, the answer is NO, which, for some users, is a big attractions of this market. It is the "wild west" right now, but governments in most developed countries are examining this market to decide what regulation may be needed. A big decision is whether to treat CC's as a currency or a commodity / security. Canada and USA have so far declared that CC's are legal, however the situation remains fluid as for reporting and tax implications. Crypto TREND will be following and reporting on these developments.
Q: How do I invest in this market?
You can buy, sell, and exchange CC's using the services of specialized "Exchanges" that act as a brokerage. You start by selecting an Exchange, setting up an account, and transferring fiat currency into your account. You can then place your BUY and SELL CC orders. There are many exchanges around the world. Opening an account is fairly simple and these exchanges all have their own rules about initial funding and withdrawals.
Crypto TREND will be recommending CC Exchanges in future.
Q: Where do I keep my CC?
To have the freedom to move your crypto currencies around, and to pay bills, you will need to have a digital wallet. These wallets come in several formats, such as desktop, cloud based, hardware (USB), mobile phone, and paper. Many of them are FREE, however, security is a big factor as no one ever wants to lose their wallet or have it stolen. Crypto TREND will be recommending digital wallets in future.
Q: What can I do with my CC?
As well as investing in CC products, you can also use crypto currency for some financial transactions, such as money transfers and paying bills. The list of companies accepting crypto currency is growing fast, and includes big hitters like Microsoft, GAP, JC Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Zynga, Subway, and WordPress.
Q: What's next?
As we start off, we will keep each of the Crypto TREND articles short and keep the scope of each one as narrow as possible. As we noted earlier, we believe that the crypto currency technology will be a game changer and potential investment opportunities like this come by once or twice in a lifetime. Make no mistake, early investing in this sector will be only for your most speculative capital, money that you can afford to lose.
Even if you are not wanting to invest at this time, gaining an early understanding of this new disruptive technology will put you in an advantageous position to profit from our recommendations as we move forward.
Expect to see more news and specific recommendations from Crypto TREND as we start this journey into what may seem to be a foreign jungle at first. This is a volatile market and may not appeal to all investors, however, Crypto TREND will be your guide if and when you are ready.
Wondering if you should invest in Bitcoin? If you've been around any kid of financial news lately, you've no doubt heard about the meteoric rise in the world's most well-known cryptocurrency.
And if you're like a lot of people right about now, you're probably wondering, "Bitcoin - yes or no?"
Should you invest? Is it a good option? And what the heck is Bitcoin anyway?
Well here's a few things you should know about Bitcoin before you invest. Also note that this article is for information purposes only and should not be taken as any kind of financial advice.
What is Bitcoin?
Bitcoin is known as a cryptocurrency or a digital currency. It's basically online money. Like any currency you can exchange it for other currencies (like say, buy bitcoins with US dollars or vice versa) and it fluctuates in relation to other currencies as well.
Unlike other currencies however it is decentralized, meaning there isn't any one central bank, country or government in charge of it. And that means it's not as susceptible to government or central bank mismanagement.
Pros of Bitcoin
#1 Easy To Send Money
Because it's decentralized, this also means that you can send a friend Bitcoin (money) on the other side of the world in seconds without having to go through a bank intermediary (and pay the banking fees).
This fact alone makes Bitcoin very popular. Instead of waiting for a wire transfer which can take days, you can send your payment in seconds or minutes.
#2 Limited Supply
There are only 21 million Bitcoins that will ever be mined. This limits the amount of Bitcoin that can ever be produced. This is like saying a government cannot print money because there is a limited supply of bills - and they won't print anymore.
When there is a set supply your purchasing power is preserved and the currency is immune to runaway inflation.
This limited supply has also helped to contribute to the rise in the price of Bitcoin. People don't want a currency that can be printed - or inflated - into infinity at the whim of a greedy government.
#3 Private
Most people think that Bitcoin is completely anonymous. But actually it's not anonymous - it's more private. All Bitcoin transactions ever made can be seen on the Blockchain - the public Bitcoin ledger.
But your name and identifying details behind the transaction are not seen. Each transaction is linked to an address - a string of text and characters. So while people might see your address - there is no way to link that address to you.
A lot of people who don't like their banks spying on them (or telling them how much of their own money that they can or can't move), really like this privacy feature.
#4 Cheaper to Transact
Many businesses have to take Visa or MasterCard these days to stay competitive. However these cards take some rather substantial fees out of each sales transaction.
But a merchant who accepts Bitcoin doesn't pay these hefty fees - so it puts more money in their pockets.
So those are some of the main pros of Bitcoins. What about the cons?
Cons of Bitcoin #1 Risky - Price Fluctuations
Bitcoin is famous for rising slowly over months - and then falling 20 - 50% over a couple of days.
Because it's being traded 24 hours a day 7 days a week, the price is always fluctuating. And all it takes it some bad news - like the news of the Mt Gox hack a few years ago - to send the price tumbling down.
So basically it's not stable - and there are a lot of unknowns out there that can affect the price. The rule here is this: don't put any money into Bitcoin that you can't afford to lose.
#2 Slowing Transaction Speeds
Bitcoin is starting to run into problems with slower transaction speeds and higher transaction fees. Other cryptocurrencies have come along that are faster and cheaper.
The Bitcoin miners are working on the problem. However until these issues are resolved, you can expect the price to be extremely volatile.
#3 Bitcoin Transactions Not Reversible
Unlike a credit card charge, Bitcoin transactions are not reversible. So if you send Bitcoin to the wrong address - you can't get it back.
Also, there are a lot of tales from people who have lost their Bitcoin wallet address (through hacking, phones being stolen, virus-infected computers, etc.) and they've completely lost their coins. There's no way to get them back.
For this reason, you really need to know what you're doing and take the time to research how to buy and store your coins properly if you want to invest in Bitcoins - or any other cryptocurrency.
So those are some of the things to consider before investing in Bitcoin. Basically while Bitcoin has a lot of great things going for it - and while it has the potential to change financial transactions as we know it - there is still a lot of risk. There are a lot of unknowns out there still.
If you do decide to buy, take your time and research your options. Don't buy from just any seller. Some of them are trustworthy and run a great business. But there are others that will overcharge you and may not even deliver your coins.
Be safe and do your research first. Find a trusted seller with a stellar reputation - there are quite a few of them out there. And remember the golden rule here - never invest more than you can afford to lose.
Want to learn more? Visit http://www.BuyBitcoin101.com for more tips on how to buy safely, where to buy and how to store your coins.
For a quick list of where to buy Bitcoins with your credit card visit http://www.buybitcoin101.com/buy-bitcoins-with-credit-card/
