Hello everyone. I hope you guys are having a great day. It is Consensus 2018 and there are a lot of blockchain and cryptocurrency companies over here in NY. Obviously if you guys have kept up with all the news coming from social media, you have heard by now that it practically reached close to 8k attendees which breaks last years record. So I am not going to spend my time reiterating the details like everyone on social media is doing. All I can say is that maybe the cryptocurrency market is likely to go up even higher and maybe its not. We have seen massive ups and down and we all know that this overall market can be gamed with big money being thrown everywhere in all directions. But overall there is so much expectation already going into Consensus to kill most of the shorts out there.
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Quick Market Recap For Today: Bitcoin vs Ripple.
I want to start my conversation with you on the battle between Bitcoin and Ripple. Bitcoin is decentralized and Ripple is centralized. Bitcoin is fast but Ripple is faster. Bitcoin is back to about half its value since it fall. While Ripple is still down to 75% of its value since its high. Whether you care about these details is personally up to you. At the end of the day, the crypto with the largest community and support will win. And right now I just want to tell you guys that Ripple is looking very interesting. It is already partnered to work with over 100 banks through the release either this year or next year of their x-rapid technology after it passes beta. It also looks to beat Master Card and Visa in terms of transactions processed per second. And thirdly, its gaining more media attention via news outlets and publications than its competitors. So I do not think a major futures market for Ripple is really that far off. There is already talks of creating an Ethereum futures. So what do you guys think is next after Ethereum is done with, and I will leave you guys with that question as I transition to the latest Ethereum news that is all about Ethereum Futures...[1]
Quick Market Recap For Today: Ethereum Futures.
Quick Market Recap For Today: Facebook Not at Consensus
So moving on to the next news, Mark Zuckerberg will most likely not make a guest appearance at the Consensus 2018 after he banned all crypto-related ads from his platform Facebook. So that is not a surprise. However after rumors of rumors and more rumors, it was announced a few days that Facebook will be looking into creating its own blockchain with a team of developers. How this will look like is anyone's guess. It will definitely be scrutinized if it releases a coin and then tries to go the ICO route to raise money as that would be a big no-no for big daddy US government. Therefore that is not likely to happen. We could most likely see air dropped coins and using Facebook coins to send transactions peer to peer with friends, family, and associates via the social media platform. But all these details are just pure speculation at the moment. All I can say is that Google might be next to follow in Facebook's footsteps as they both banned ads at the same time this year. So please keep a watch for both companies. And as more big companies enter into this space, you guys should be really excited because we are seeing the birth of a new asset class. Experts are thinking that this market could be as easily as 1 trillion dollars by end of this year to 20 trillion in the next few years. Wealthy executives are even coming out and telling everyone that this crypto currency market is becoming an asset class and to put 1 to 2 % of ones own next egg into this space. For example, former Facebook Exec and Golden State Warriors part owner, Hamath Palihapitiya has talked up Bitcoin and the cryptocurrency market several times this year. [3] I conclude by telling you to remember to pay attention to what is going on in this market, do not invest more than what you can afford to lose, and talk to a financial advisor to see if its appropriate to invest 1 to 2% into this space. Always get a second opinion. Once again this is not financial advise. This is purely entertainment. Have a great day.
Nick is a content creator for Sobuka with a background in programming, information technology, finance and digital forensics. He shares interest in cryptocurrencies by reporting on International Affairs. You can find myself, B, and Laura here from time to time.
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Relevant Sources
Consensus 2018: https://www.coindesk.com/events/consensus-2018/
Ethereum Futures: https://globalcoinreport.com/ethereum-eth-futures-are-here-and-being-offered-by-uk-firm/
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Disclaimer
The information on this blog is not financial advice. Before you invest in cryptocurrencies, please speak to a financial advisor.