The Best Cryptocurrencies
Russia’s First Deputy Prime Minister Igor Shuvalov has revealed that discussions are underway regarding the creation of government centers for cryptocurrency mining, according to local publications. As for investing an initial lump sum to begin getting exposure in this space, my personal strategy would be to do a semi-timed dollar cost average, if one is particularly concerned that bitcoin they might be investing just before a local minimum market crash, but also particularly concerned that the price may keep rapidly appreciating ad infinitum, and would like to get in before that happens.
Citing examples of initiatives that have been grabbing the bank’s attention as evidence of opportunities to be exploited in the cryptocurrency/blockchain space, Stocco mentions the advent of initial coin offerings (ICOs, or cryptocurrency crowd-sales) decentralised transaction network Ripple and bitcoin debit card Xapo.
Once you’ve decided that you truly believe in a cryptocurrency long term, and are willing to commit to it for the long term and hold it no matter what the short term price movements might be, the next step is to decide how much to invest, and when to invest.
If you’re determined to jump in and get involved in cryptocurrency mining, if only for the educational and geek appeal rather than to make any money, your best bet is to immerse yourself in one of the many mining forums out there, which will give you the inside track on the latest news and market trends.
Western Union, as one example, is a company with a market cap of $9 billion Consequently, it might be reasonable to expect that bitcoin’s true ultimate value would be something roughly in that order of magnitude, if this were to be bitcoin’s one true long term use case.