When someone submits a transaction, it has to be confirmed by multiple sources to keep things secure. Since the currencies are decentralized they rely on users to supply the computing power to confirm the transactions. For this, the people supplying the computing power are given a reward for each confirmation that is paid by a fee that the person buying or selling bitcoin.
Some of the crypto coins are profitable to mine, others use more in electricity than you make in fees. The good dedicated miner systems cost a few thousand bucks do a plug and play kit.
Buy the dips, crashes last about 24-48 hours. Buy it when low and it will quickly jump back up to even higher numbers. I average about 35 percent growth a month on my investments when I don't day trade so the growth is pretty steady
BTC is dead, buy ETH
Also my hot take is to buy REQ and XRP(even though I hate ripple)
XRB is going to blow up in the next month or so too
BTC has too high of fees and confirmations take too long. It doesn't have near the network ETH or LTC has and offers no unique features but being first mover and their market share of crypto has dropped to the low 30's.
LTC is BTC perfected and is in a slump while still processing many billions of transfers and payments, maybe second only to Ethereum network.
I don't doubt that at all.
BTC has too high of fees and confirmations take too long. It doesn't have near the network ETH or LTC has and offers no unique features but being first mover and their market share of crypto has dropped to the low 30's.
LTC is BTC perfected and is in a slump while still processing many billions of transfers and payments, maybe second only to Ethereum network.
I think all the cryptos are in for a nice bump this summer when Goldman sage and other large investing firms begin their crypto investments.
If you think crypto adoption will ever really come around, then REQ is working on some really cool payment solutions through their coins that allow intercoin payment simplification.
ETH is breaking a lot of ground with smart contracts but their network now host many smaller coins, almost every coin built on ethereum network is booming because it's a super fast low fee network.
ARK is really growing and has a competitive/democratic fee market that is enticing.
XRP is backed by banks which is kind of backwards in crypto but it makes it unique and banks hold most of the XRP so they're interested in its growth, success, and adoption.
ETH is breaking a lot of ground with smart contracts but their network now host many smaller coins, almost every coin built on ethereum network is booming because it's a super fast low fee network.
ARK is really growing and has a competitive/democratic fee market that is enticing.
XRP is backed by banks which is kind of backwards in crypto but it makes it unique and banks hold most of the XRP so they're interested in its growth, success, and adoption.
A quote from a very good friend that's a financial writer, lol.
"Their only worth seems to lie in their (artificially) limited rarity. But at least with a Da Vinci or a Faberge egg, you have the fucking egg. People are paying $15000 (and soon, $25000 or $30000) for… what? It’s not even a fart in a jar. And any day, any government, can outlaw it as a way to curb crime, if it gets tired of the competition."
They're is a demand for transparent ledger, decentralized payment solutions, and private ways to hold funds. That's the block chain and that's where the value is. Take a look at Venezuelans buying up all the XRB
USD at least has the backing of the global economy and all of the lives riding on it's success. Metals offer some practical use. Cryptos...there's value but not inherently.
Thanks for the info.
Buying dips and crashes makes eminent sense, as long as the risk is considered.
To me it would be interesting as long as I'm using fun money, but I'm too risk adverse to put serious cash in it.
It is definitely "high risk" but in 2017 there were no losing bets on any major exchange network
Funny BitCoin sketch. https://dms.licdn.com/playback/C510...t=eq6FNF4pY5Rg9gGDag9O98EBvatlWLYBl0xMtAGvyGs