What Is the Latest in the Crypto World
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| Photo by Tima Miroshnichenko from Pexels |
The evolution of cryptocurrency has been incredibly influential in the growth of the internet. From the creation of the very first cryptocurrency to the innovations of the blockchain and smart contracts, to the growth of cryptocurrency-based startups and the growth of digital asset markets, to the global adoption of cryptocurrency, the “crypto sphere” (if you can call it that) has developed tremendously.
The first decentralized currency, bitcoin, first appeared more than seven years ago. Since then, there have been many other digital currencies, but few have come close to the success of bitcoin. A U.S. appeals court ruled that the bitcoin era is not a currency but merely a commodity, which means that the Internal Revenue Service cannot tax bitcoin holders. A U.S. appeals court also ruled that bitcoin is not a security, which means that bitcoin miners are not subject to securities regulations.
What’s new in the Crypto World?
Cryptocurrency is the next big thing for investors—and for the way the world conducts business. The recent boom in bitcoin, followed by the rise of altcoins, has brought cryptocurrency to the forefront of the public eye. The currency has the potential to disrupt the financial world, but there are still so many unanswered questions about its future. We can only hope that the currency’s unique qualities will be enough to keep it around for the long haul.
The crypto market has been on fire recently, with Bitcoin (BTC) continuing to lead the pack with over 100 percent year-to-date gains, while some of its lesser-known brethren have also shown significant returns. This week, even more coins on this list shined, with four of the top 10 coins on the list experiencing double-digit percentage gains.
Cryptocurrencies, including Bitcoin, have been a huge success, and 2017 was no exception to this. The first and largest cryptocurrency, Bitcoin, reached a high of nearly $20,000 for one bitcoin per coin, which translates into an estimated value of $400,000 USD. The market opened at $15,000 per bitcoin but experienced a steady drop since then. The idea of cryptocurrencies is extremely interesting to many people, but for some time now, there has been a significant amount of negative news. It appears that with each passing day, one country or another is taking steps to ban crypto, with the U.S. leading the way. However, this will not last forever. The cryptocurrency market is not about to go away, and people will continue to hold on to their crypto holdings, even if it is in exchange for fiat.
The bitcoin era has begun. This is the time when bitcoin is becoming the world’s most popular money. (Actually, it’s already the world’s most popular money, but that’s another story.) This is also the time when bitcoin is becoming the world’s most popular currency since the people who use it are now the people who control the world’s money. To get started now, and this is the time when everyone’s making money off it. While the current renaissance in virtual currencies is largely driven by enthusiasm for bitcoin, there are also other cryptocurrencies competing for the attention of investors. One of the most interesting is stellar, which has been making waves in Asia for its focus on helping people in developing countries get paid for their work. The bitcoin era is here to stay. For how long? It’s still surprising to me that just a few years ago, the idea that the world’s most popular digital currency would become something that hundreds of thousands of people around the world use to buy anything just seemed impossible. Yet here we are.