In 2017 the ability to raise money through an ICO was incredible. You could easily pull in tens of millions worth of fiat money and crypto contributions in a matter of minutes. Inevitably, this left a whole heap of new crypto projects with huge wads of cash. But there was one huge problem.
This is the pathway to mainstream crypto adoption. Making crypto easy, accessible, fun and educating people about it is no easy task. We think that soon you’ll start to see physical locations — shop fronts — open up to give the main street people an ‘on ramp’ to crypto.
Today there’s too much information available. There are too many channels screaming for your attention. So whom do you trust? Who do you believe? Who is credible? Who is accountable? What we can also tell you is that transparency is a tell-tale sign of those you can trust.
Many believe buying bitcoin is equivalent to gambling. But over the weekend you could have actually gambled with bitcoin. Last week, Neds, an online Aussie wagering company, said they will launch a fully functioning cryptocurrency betting site. Customers can deposit, bet and withdraw in bitcoin.
First came the curious. Then as the price rose, the speculators bought in. And in 2017, amidst incredible price rises, massive numbers of new investors bought on the fear of missing out. Those same late-comers have scrambled to get right back out again as the price crashed in January. Their fear of missing out has been transformed into plain old fear.
There’s a pecking order when it comes to investing. A hierarchy of opportunity. It’s a pyramid of power, carved out in the stone of regulation. The system is set up so that you aren’t allowed to invest in the early stages of the biggest opportunities. You have to be a sophisticated investor. That is a person rich enough to get a chance to make gains. Until now.
Google and Facebook have decided to crack down on advertisements that have anything to do with bitcoin and cryptocurrencies. Facebook have banned them entirely. One minute you’re running an effective advertising campaign to help educate people about this world-changing opportunity. Then next minute they turn the lights out. A blanket ban is too extreme.
Bitcoin and the wider crypto market has tanked overnight. It was a sea of red across the board this morning for almost every coin. With the majority of the top 50 coins down by over 10%.
During the recent crypto-frenzy, ethereum reached a peak of US$1,420 per token. The current price represents a 14.8% retrace from the high, compared to bitcoin’s 42.1% retrace. Traders are beginning to look at ethereum as the next leader in the cryptocurrency world.
Whether the future will look like this or be entirely different is impossible to know. But imagine. In the crypto future, you would be free to use any currency you like. And a receiver would be free to instantly and freely convert it into any currency they like. There would be no monopoly power here. The possibilities are truly endless.