In this video I give a relatively brief appraisal of some early analysis I have carried out on Cryptocurrencies. I have also carried out my weekly analysis of the major pairs.
Thanks for your comments re cryptos- however, your understanding is seriously limited. eg Bitcoin / Bitcoin cash are separate entities and Bitcoin cash was formed as a result of a hard fork. As was Ethereum Classic from Ethereum. Fundamentally this arises when the miners (who are responsible not only for mining for new Bitcoin but also for authorising transactions on the blockchain for which they receive a small payment) have a divergence of views as to the way forward for Bitcoin/Ether.
Additionally there are numerous ICO’s currently taking place (Initial Coin Offerings) Some of these will probably be successful and in the long term may become the FANG stocks of the Blockchain, however, many are just jumping on the bandwagon -raising large sums of money/cryptocurrency, and possibly disappearing.
I would liken this to the early days of the internet boom around 1999/2000, and suspect that at some point it will all go pop and from the ashes the strong companies will survive and thrive as happened post 2000. eg Google, amazon microsoft, facebook, apple etc.
You are right that the best way to play this is to make a small investment and treat it as a store of value which you hope in the long term you will be able to use to buy a car, boat, jewellery, even a house.
Thanks for you comments. As I mentioned I am still studying the subject although do know a bit more than I shared, but it is too technical for many to understand.
I totally agree with you regarding the ICO’s which can just appear and will probably disappear just as quick. One thing for sure some of the technology will be a game changer in international banking at some point.
A look at crypto currencies, is now the time?
In this video I give a relatively brief appraisal of some early analysis I have carried out on Cryptocurrencies. I have also carried out my weekly analysis of the major pairs.
2 Comments
Hi Kym
Thanks for your comments re cryptos- however, your understanding is seriously limited. eg Bitcoin / Bitcoin cash are separate entities and Bitcoin cash was formed as a result of a hard fork. As was Ethereum Classic from Ethereum. Fundamentally this arises when the miners (who are responsible not only for mining for new Bitcoin but also for authorising transactions on the blockchain for which they receive a small payment) have a divergence of views as to the way forward for Bitcoin/Ether.
Additionally there are numerous ICO’s currently taking place (Initial Coin Offerings) Some of these will probably be successful and in the long term may become the FANG stocks of the Blockchain, however, many are just jumping on the bandwagon -raising large sums of money/cryptocurrency, and possibly disappearing.
I would liken this to the early days of the internet boom around 1999/2000, and suspect that at some point it will all go pop and from the ashes the strong companies will survive and thrive as happened post 2000. eg Google, amazon microsoft, facebook, apple etc.
You are right that the best way to play this is to make a small investment and treat it as a store of value which you hope in the long term you will be able to use to buy a car, boat, jewellery, even a house.
Just my views!
HI Mike,
Thanks for you comments. As I mentioned I am still studying the subject although do know a bit more than I shared, but it is too technical for many to understand.
I totally agree with you regarding the ICO’s which can just appear and will probably disappear just as quick. One thing for sure some of the technology will be a game changer in international banking at some point.
Best wishes, Kym