Who is following or even interested in cryptocurrency? Since the inception of Ripple and Bitcoin we have seen an influx of well over 100 different cryptos. We have Ethereum, tether, BNB, xrp (what ripple had beenchanged to), cardano, solana, avalanche, dogecoin (a joke from elon musk), polka dot, shiba inu just to name a few. Are they really worth the chances? We will look some of the more popular ones,
Bitcoin–is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Bitcoin has been criticized for its use in illegal transactions, the large amount of electricity (and thus carbon footprint) used by mining, price volatility, and thefts from exchanges. Some investors and economists have characterized it as a speculative bubble at various times. Others have used it as an investment, although several regulatory agencies have issued investor alerts about bitcoin. In September 2021, El Salvador officially adopted Bitcoin as legal tender, in the face of internal and international criticism, becoming the first nation to do so.
The word bitcoin was defined in a white paper published on 31 October 2008. It is a compound of the words bit and coin. No uniform convention for bitcoin capitalization exists; some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin, lowercase, for the unit of account. The Wall Street Journal, The Chronicle of Higher Education, and the Oxford English Dictionary advocate the use of lowercase bitcoin in all cases.
Initial rate 4 shares for $0.01
Current rate as of this posting, 2/18/22 $40,138.24
XRP—
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes. Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks”. The ledger employs the native cryptocurrency known as XRP.
In December 2020, Ripple Labs and two of its executives were sued by the U.S. Securities and Exchange Commission (SEC) for selling XRP tokens, which the SEC classified as unregistered securities.
Initial rate 4 shares for $0.10
Current rate as of this posting, 2/18/22 $0.7744
Dogecoin–a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a “joke”, making fun of the wild speculation in cryptocurrencies at the time.[3] It is considered both the first “meme coin“, and, more specifically, the first “dog coin”. Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake.[4][5][6] It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of over $85 billion[a] on May 5, 2021.[7] It is the current shirt sponsor (sleeve only) of Premier League club Watford.[8] Dogecoin.com promotes the currency as the “fun and friendly Internet currency”, referencing its origins as a “joke.”[9] Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. With the help of Reddit, the site became an instant hit. Within two weeks, Dogecoin had established a dedicated blog and forum, and its market value has reached $8 million, once jumping to become the seventh largest electronic currency in the world.[10] Dogecoin is based on Scrypt algorithm, and the transaction process is more convenient than Bitcoin. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes.
Initial rate 4 shares for $0.10
Current rate as of this posting 2/18/22, $0.1394
Ethereum–is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH or Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization.
Ethereum was conceived in 2013 by programmer Vitalik Buterin. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin In 2014, development work commenced and was crowdfunded, and the network went live on 30 July 2015. The platform allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact. Decentralized finance (DeFi) applications provide a broad array of financial services without the need for typical financial intermediaries like brokerages, exchanges, or banks, such as allowing cryptocurrency users to borrow against their holdings or lend them out for interest.[9][10] Ethereum also allows for the creation and exchange of NFTs, which are non-interchangeable tokens connected to digital works of art or other real-world items and sold as unique digital property. Additionally, many other cryptocurrencies operate as ERC-20 tokens on top of the Ethereum blockchain and have utilized the platform for initial coin offerings.
Ethereum has started implementing a series of upgrades called Ethereum 2.0, which includes a transition to proof of stake and aims to increase transaction throughput using sharding.
Initial rate 4 shares for $0.31
Current rate as of this posting 2/18/22, $2,800.81
As one can see if a person took some time to research some of these back when they first came out, bitcoin being the most popular, and invested in the initial you could have a substantial amount of money, but if you had taken that same money and invested in the initial of the second one, (ripple/xrp) thinking it would be the same way you would not have gained much of anything.
Just some things to think about. Is it worth it? That is for you to decide.
Romans 8:28 KJV
[28] And we know that all things work together for good to them that love God, to them who are the called according to his purpose.
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