Cryptocurrencies are all the rage right now.
Everywhere, you see headlines with impressive thousands of percent gain for “coins” like Bitcoin. But what gives them value? When did you use Bitcoin?
The truth is that this is not practical at present, mainly because of the amount of time it takes to complete a transaction. However there are other coins that can be effective as the number one cryptocurrency to make Bitcoin successful.
There is a lot to understand about the complexities of cryptocurrencies, but this article is more about exploring investment opportunities than explaining the science behind them.
A bubble in bitcoin?
One thing that is important to know is that the concept of “mining” is the very basis of cryptocurrencies. This is how new bitcoins are created.
In general, “miner” solves a complex math problem through special software and is rewarded with new bitcoins as a result. Then, the transaction is saved in the blockchain and those new bitcoins are officially introduced.
As more bitcoins become more prevalent, mining them becomes more complex and time consuming and less profitable. Thus, although about 80% of potential bitcoins are now in circulation, the latter will not be mined until 2140.
As most people know by now, Bitcoin has seen a huge rally this year. In fact, it’s up about 1,200% compared to last year, making many people think it’s in the bubble.
The total value of Bitcoins in circulation is now over $ 150 billion. If Bitcoin is a company, it will be in the top 50 in the United States.
I personally believe that Bitcoin is much more valuable than any other cryptocurrency because it was the first mainstream broke although it is still important. It rarely gives anything to other currency developers to improve.
The good news is that if you think you missed the boat with Bitcoin, there are plenty of other cryptocurrencies out there. Of course, some are scandalous, but others have real potential.
I believe that one of the real, practical uses is called dash.
Dash: Digital cash
First, the dash is ahead of the game in terms of convenience. Right now, bitcoin transactions take an average of about 10 minutes to an hour. Dash is setting up as the primary cryptocurrency that can be instantly transferred (less than a second) within the party, making it even more practical when it comes to buying things online or at a store.
One of the interesting features of Dash is that 10% of the newly mined coins are given to Dash DAO (decentralized autonomous body). Simply put, DAO is Dash’s treasury. Priced at more than 600 600 per currency, it’s 4 4 million per month.
It is important to know that no other currency has such consistent funding. With this money Dash DAO can develop and market the currency.
Also, one can submit an idea for any project to increase the value of the dash. Since then, the project has received thousands of dash developer votes. Dash is an example of a partnership with stores to build an effective way to transact for their content.
Of course, these developers make money from the dash, so anything that benefits and promotes the currency will be tempting.
This creates a circular effect, where the value of the currency is appreciated because it is better financed and marketed, then the DAO makes more money and is able to market the dash more.
A breakthrough for Dash
To date, Dash can be used to purchase goods or services from over 300 physical stores and over 100 websites. But the progress could come from the cannabis industry.
Right now, banks are not allowed to do anything with cannabis transactions; Everything has to be cash. Sellers cannot even keep money from their bank in any bank.
Not only does this bring about the risk of snatching, but these companies have to pay for cash savings and transportation. Is added quickly.
Being able to use Dash is huge for these vendors. It also means great things for dash prices.
The good news is it has already begun to progress. In April, Dash partnered with Alt Thirty Six, a digital payment system that has partnered with some of the country’s top dispensary business management software companies.
These software companies track transactions for hundreds of dispensary and delivery services. This means that Dash users already have hundreds of ways to use the currency.
Since Dash officially became the payment method in the Alt Thirty Six on October 11, its price has increased by 118%. It’s only been a month and a half.
Just the Beginning
With a market cap of just 8 4.8 billion compared to Bitcoin’s 6 156 billion, I believe Dash still has a lot more room to go.
The marijuana industry is just the beginning for Dash, but it’s great. In 2016, legal sales were around 7 7 billion. And an estimated $ 46 billion was sold on the black market.
And as more stores open and marijuana becomes legal, the legal number is expected to reach বিল 23 billion by 2021 and বিল 50 billion by 2026.
Again for Dash it only features the unique instant transaction of the beginning beginning making it an effective alternative to cash, giving it an edge over other cryptocurrencies like Bitcoin.