Most cryptocurrencies have been soaring with the exception of bitcoin which continues to wallow near $15,000 as its transaction speeds and fees render it nearly unusable.
STEEM, which I’ve been a fan of since its inception, has also skyrocketed and is up 600% in the last month to over $8.
Bitcoin’s "dominance" which stood over 60% in early December, is no longer dominant as it hits all-time lows near 37%.
Some of the big winners have been quasi-cryptocurrency, bankercoin Ripple (XRP) which skyrocketed 1,000% in the last month and surpassed Ethereum for second place on the cryptocurrency market capitalization chart.
My comment - To explain Ripples (Exchange Symbol XRP) HUGE price jump in a month,see comparison between existing Foreign Exchange transactions and Ripple,which specialises in Foreign Exchange money movement.I will replace the Bitcoin coin icon with the Ripple one later today.I can't keep up with the breathtaking speed of things!
The good news is that Ripple wants to work with Banks confirmed by this underscored quote from the CEO -
Unlike bitcoin, Ripple is a company that has created coin known as XRP that is aimed at enterprises.
Ripple markets itself as a cross-border payments solution for large financial institutions based on blockchain technology.
Brad Garlinghouse, chief executive officer Ripple - "This payment service wants to work with banks"
In fact, this is just the continuation of an incredible rise in most cryptocurrencies.
While many wave their arms and say that this is all clearly just a bubble, one thing gets lost in the mix.
We now, all in the span of 2-3 years, have billions of dollars traded worldwide daily completely outside of the central bank and governmental controlled money and banking system!
This is absolutely massive. This is the game changer.
The total amount of bitcoin alone that trades daily is around 150,000… or about $2 billion worth.
When you add up Ripple, Ethereum, Bitcoin Cash, Litecoin, Dash and hundreds of others the numbers likely easily get into the tens of billions of dollars trading outside the system daily.
And the total value of all cryptocurrencies continues to surge closer to $1 trillion. That’s real money.
Sooner or later crypto will humble you by its greatness.
Its vastness is accompanied by a madness that is breathtaking because you quickly realize that there is no stopping crypto from taking over the world. The moment you think you have everything figured out, is the moment the market will surprise you.
We are for the first time living and witnessing the birth of the first worldwide free market.
continued at The Dollar Vigilante newsletter@dollarvigilante.com
No comments:
Post a Comment