Important: This position should not be taken as investment advice. The author focuses on the best coins in terms of actual usage and adoption, not from a financial or investment perspective.
In 2017, cryptographic markets set the new standard for easy wins. Almost every piece or chip made incredible returns. “A rising tide throws away all boats,” as the saying goes, and late 2017 was a deluge. The price surge has created a positive where to sell litecoin in nigeria feedback cycle that is drawing more and more capital into crypto. Unfortunately, but inevitably, this galloping market leads to massive investments. Money has been haphazardly poured into all sorts of dubious projects, many of which will never come to fruition.
In the current bearish environment, hype and greed are being replaced with critical judgment and caution. Marketing promises, endless shillings and charismatic oratorios are no longer enough, especially for those who have lost money. Well, basic reasons to buy or hold a coin are paramount once again.
Basic factors when evaluating a cryptocurrency-
There are a few factors that tend to conquer the hype and price pumps, at least in the long term:
Although the technology of a userless cryptocurrency or ICO business plan may seem surprising, they are just dead projects. It is often forgotten that broad acceptance is an essential characteristic of money. In fact, it is estimated that over 90% of Bitcoin’s value depends on the number of users.
While the acceptance of fiat is entrusted by the state, the acceptance of crypto is purely voluntary. Many factors go into the decision to accept a coin, but perhaps the most important consideration is the likelihood that others will accept the coin.
Decentralization is essential to the I -Push model of a true cryptocurrency. Without decentralization, we’re a little closer to a Ponzi scheme than true cryptocurrency. Trust in individuals or institutions is the problem that a cryptocurrency tries to solve.
If dismantling a coin or central controller can change the transaction record, it calls into question their fundamental security. The same applies to parts with unproven code that have not been thoroughly tested over the years. The more you can trust the code to work as described, regardless of human influence, the greater the security of a coin.
Valid coins strive to improve their technology, but not at the expense of security. Real technological progress is rare, because it requires a lot of know-how – and also wisdom. There are always fresh ideas that can be tweaked, but if you point out weaknesses or critics in the original purpose of a coin, you miss the point.
Innovation can be a difficult factor to value, especially for non-technical users. However, when a currency code is stagnant or not receiving updates that address important issues, it can be a sign that developers have weak ideas or motivations.
The economic incentives inherent in a currency are easier for the average person to grasp. If a coin had a large pre-mine or ICO (Initial Part Offer), the team held a significant share of chips, then it is quite obvious that the main motivation is profit. By buying what the team offers, you play and enrich your game. Make sure you offer tangible and reliable value for money.
5 Cryptocurrencies to buy in 2018
There has never been a better time to reevaluate and rebalance a cryptographic portfolio. Based on their solid foundation, here are five tracks that I think are worth holding on to, or perhaps buying at their currently depressed prices (which, just a warning, could go lower).
#1. Bitcoin (because of its decentralization)
Number one belongs to Bitcoin (BTC), which continues to be the leader across all categories. Bitcoin has the highest price, the widest adoption, the most security (due to Bitcoin mining’s phenomenal energy consumption), the most famous brand identity (the forks have tried to be reasonable), and the most active and rational development. It is also the only piece to date that is represented in the traditional markets in the form of bitcoin futures trading on the American CME and CBOE.
Bitcoin remains the main engine; The performance of all other parts is highly correlated with Bitcoin performance. My personal expectation is that the gap between bitcoin and most if not all other parts will widen.
Bitcoin has several promising innovations in the pipeline that will soon be installed as additional layers or soft forks. Examples are the Flash System (LN), the Tree, Schnorr Signatures, Mimblewimble, and more.
In particular, we are planning to open a new set of applications for Bitcoin, since it enables large-scale microtransactions and instant and secure withdrawals. LN is becoming more and more stable as users test their different possibilities with real bitcoin. As it is easier to use, it can be expected to benefit greatly from Bitcoin’s adoption.
#2. Litecoin (because of its persistence)
Litecoin (LTC) is a clone of Bitcoin with a different hashing algorithm. Although Litecoin no longer has Bitcoin’s anonymity technology, amazing reports have shown that Litecoin’s adoption in the dark markets is now second only to Bitcoin. Despite being a currency that I believe is much more suitable for acquiring illegal goods and services, this may be due to Litecoin’s longevity: it was launched in late 2011.
Another factor for Litecoin is that it integrates Bitcoin SegWit technology, which means Litecoin is LN ready. The Litecoin can benefit from an exchange of atomic chains. In other words, secure peer-to-peer trading of currencies without the involvement of third parties (i.e. exchanges). By keeping its code largely in sync with Bitcoin, Litecoin is well positioned to benefit from Bitcoin’s technical advances.
#3. Ethereum (because of smart contracts)
Ethereum (ETH) is currently facing some major problems. First, governments crack up at ICOs, and rightly so: many have turned out to be either fraudulent or bankrupt. With most ICOs running on the Ethereum network as ERC token 20, the ICO mania has brought a lot of value to Ethereum in recent years. If the appropriate rules are in place to protect investors, Ethereum project scammers can claim some legitimacy as a crowdfunding platform.
The second major issue Ethereum is facing is the delayed transition to a new hybrid working and battery detection system. Ethereum mining GPU is currently profitable, but Bitmain just announced Ethereum ASIC Minor, which will likely impact GPU miners bottom lines. Whether this will change the POW – and how successful this change will be remains to be seen.
If Ethereum can survive these two main problems – regulation and mining – it will have shown great resilience. Otherwise there are several competing currencies following their shadows such as Ethereum Classic (etc.), Cardano (ADA) and EOS.
#4. Monero (because of its anonymity)
Although its introduction to the dark markets is not all that could be expected, I (XMR) remains the Prime Minister’s privacy. Its reputation and market cap are still above those of its peers — and with good reason.
Monero’s code requires less trust than Zcash’s “loyal” key ceremony and, unlike Dash, got off to a fair start. That Monero recently changed its pow to prevent the development of a small ASIC for its algorithm confirms the piece’s commitment to mining decentralization. A significant drop in hashrate is due to the new version being consistently how to sell litecoin on trust wallet reported against ASIC. This could also be an opportunity for GPUs and even smaller CPUs to check in with me. The new version of Monero, 0.12, also includes other improvements that show Monero continues to grow along sensitive lines.
#5. iPRONTO (A decentralized incubation platform)
iPRONTO is an Ethereum chain incubation platform aimed at investors looking for a safe and reliable platform to invest in new ideas and future innovators, presenting their ideas and opinions from users, experts in the field to practice and implementation of derived ideas.
The ideas of the innovators are supported as the NES in smart contract format is signed between the expert platform and the client when the client’s business idea is submitted to the committee for consideration and registration on the platform. The idea will not be published on the chain’s public platform for all users, but only for selected members of the target community who are willing to sign the smart contract to keep the idea confidential.