Cryptocurrencies are very popular at the moment.
Everywhere, on “coins” like bitcoin you see titles with a spectacular profit of thousands of percent. But what gives them value? When did you use bitcoin?
The truth is, it’s not practical at the moment, mostly because of the time it takes to complete a transaction. But there are other currencies that are emerging as viable candidates for bitcoin success as the No. 1 cryptocurrency.
There is a lot to understand about the oddities of cryptocurrencies, but this article is about finding an investment opportunity rather than explaining the science behind them.
A bubble in Bitcoin?
One thing to know is the concept of “mining”. This is the basis of cryptocurrencies. This is how new bitcoins are made.
In simple terms, the “miner” uses a special software to solve a complex math problem and as a result is rewarded with new bitcoins. The transaction is then stored in a blockchain and these new bitcoins are officially in circulation.
As more and more Bitcoin is circulating, it takes more and more time to exploit them and is less profitable. So while about 80% of possible bitcoins are in circulation, the latter will not be exploited until 2140.
As most people know so far, bitcoin has seen a huge rally this year. In fact, it has risen by about 1,200% in the last year, and many people may think it is in a bubble.
The value of bitcoins in circulation is now more than $ 150 billion. If Bitcoin were a company, it would be among the top 50 in the United States.
I personally think that bitcoin is much more valuable than any other cryptocurrency because the only reason it was the first time it was introduced into the mainstream. That’s still important. At the very least, it gives other coin developers something to improve.
The good thing is, even if you think you’ve lost your boat with bitcoin, there are plenty of other cryptocurrencies. Of course, some are scams, but others have real potential.
In my opinion one of them with real and practical use is called Dash.
Line: Digital Cash
First, Dash is ahead of the game in terms of convenience. Right now, bitcoin transactions take about 10 minutes and an hour on average. Dash will be the main cryptocurrency that can be transferred immediately (in less than a second) between parties, making it much more practical when it comes to buying things online or in a store.
One of the most attractive features of Dash is that 10% of the newly issued coins are donated to Dash DAO (a decentralized autonomous body). It is simply a treasure trove of DAO Dash. At a current price of more than $ 600 per coin, it can use $ 4 million a month.
It is important to know that another currency does not have ongoing funding. With this money, Dash DAO can develop and market the currency.
Also, anyone can submit an idea for a project to improve the value of Dash. Then the project was voted on by thousands of Dash developers. An example would be partnering with stores to make Dash a viable merchandise transaction route.
Of course, these developers make money with Dash, so anything that benefits and promotes the currency will be attractive.
This creates a circular effect because the currency estimates the price because it is better financed and marketed, then the DAO makes more money and Dash is able to market it even more.
A preview of Dash
To date, the Dash can be used in more than 300 physical stores and 100 websites to purchase goods or services. But that breakthrough could come from the marijuana industry.
Right now, banks have nothing to do with marijuana transactions; everything has to be done in cash. Sellers cannot put money from sales made in a bank.
Not only is there a risk of theft, these companies have to pay for saving and transporting money. That adds up quickly.
Being able to use the dash would be awesome for these vendors. He would also like to say great things about Dash’s price.
The good news is that progress has already been made. In April, Dash partnered with a digital payment system called Alt Thirty Six, which has partnerships with some of the nation’s leading business management software companies.
These software companies track hundreds of medication and delivery service transactions. This 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 risen 118%. That’s only a month and a half away.
Just the beginning
With a market capitalization of $ 4.8 billion compared to $ 156 billion for bitcoin, I think Dash still has a lot of opportunities to move forward.
The marijuana industry is just the beginning of Dash, but it’s great. In 2016, legal sales were about $ 7 billion. An estimated $ 46 billion was sold on the black market.
And as more stores open and marijuana becomes legal in more states, that number of laws is expected to be $ 23 billion by 2021 and $ 50 billion by 2026.
Again, this is just the beginning of Dash. The unique feature of the instant transaction makes it a viable alternative to money, as it provides an advantage over other cryptocurrencies such as bitcoin.