The Cryptocurrency Market Is Growing Exponentially

The Cryptocurrency Market Is Growing Exponentially

The Cryptocurrency Market Is Growing Exponentially

Bitcoin dominates over other digital currencies today, but the data suggests its market share will drop significantly in the next few years.
When it comes to the future of money, there is a growing consensus that cryptocurrencies are set to play a major role. One cryptocurrency, in particular, has entered the public lexicon as the go-to digital asset: Bitcoin.

But the cryptocurrency market is significantly more complex than the public lexicon might suggest. And while there have been plenty of studies examining the role and future of Bitcoin, there have been few that explore the broader cryptocurrency market and how it is evolving.

Today that changes thanks to the work of Abeer ElBahrawy at City University in London and a few pals who have examined the cryptocurrency market as a whole and say that it is significantly more complex and mature than many had thought. The evolution of this market even bears a remarkable similarity to the evolution of ecosystems in many other areas, providing some insight into the way the cryptocurrency market might change in the future.

First some background. The big challenge with digital currency is to prevent unauthorized copying. Cryptocurrencies use two mechanisms to prevent this. The first is to publish every transaction in a public record and to store numerous copies of this ledger online in a way that allows them all to be automatically compared and updated. This prevents double spending—using the same bitcoin to buy two different things.

The second mechanism is to protect the ledger cryptographically. Every update collects together a range of new transactions and adds them to the existing ledger. But to do this, the earlier version of the ledger is first frozen and encrypted.

The new version of the ledger—called a block—includes the encrypted copy of the earlier ledger. Anybody can use this encrypted data to generate a number that can be used to check the veracity of the block. However, it is extremely hard to generate this number computationally in an attempt to game the system. It is this feature—that the blocks are easy to check but extremely hard to copy—that secures the system.

Of course, as the ledger continues to be updated, new blocks must be created, piggybacking on the old ones and creating an unbroken chain of blocks. Hence, the term blockchain technology.

Bitcoin is by far the most famous of these cryptocurrencies. It is also among the oldest, having first emerged in 2009. But it is by no means the only cryptocurrency. So an interesting question is how the cryptocurrency market is evolving.

To find out, ElBahrawy and co analyzed the behavior of 1,500 cryptocurrencies that have emerged since 2013 and say that some 600 of them are actively traded today. They say this market has recently entered a period of exponential growth and is currently worth $54 billion. (By comparison, the total amount of money in the world is about $60 trillion.) 

But while this cryptocurrency market is growing rapidly, ElBahrawy and co show that certain aspects of it are stable. For example, the number of active cryptocurrencies has remained about the same since 2013 as has the market share distribution, which follows a well-known power law.

The team also shows how this distribution can be reproduced using a standard model of evolution in which they plug in figures for the rate at which currencies emerge and die away.

This power law distribution occurs in a wide range of systems. For example, the same law describes the size of religions, of languages and even of wars (by number of deaths). In none of these systems is there are any favored religion or language or war. But all things being equal, they all form this type of distribution.

The fact that size distribution of cryptocurrencies follows the same law is significant. It implies that as far as the market is concerned, all currencies are essentially the same. “The fit with the data shows that there is no detectable population-level consensus on what is the ‘best’ currency or that different currencies are advantageous for different uses,” say ElBahrawy and co.

Whether that is true is up for debate. Various critics have pointed out a number of technical limitations associated with Bitcoin, and this has inspired a new generation of cryptocurrencies, such as Ethereum. Whether this will influence the market remains to be seen.

While this exponential growth is ongoing, Bitcoin’s market share is falling. The top five biggest currencies—Ethereum, Ripple, Litecoin, Dash, and Monero—now account for 20 percent of the market. And the trend for Bitcoin is clear. “This would predict Bitcoin market share to fluctuate around 50 percent by 2025,” say the team.

Another factor in the market is that cryptocurrencies aren’t used only as currency. Bitcoin is also widely used for speculation and can also be used for nonmonetary uses such as timestamping.

For many of these applications there is a clear benefit to having a single currency that everyone agrees on. “While the use of cryptocurrencies as speculative assets should promote diversification, their adoption as payment method (i.e., the conventional use of a shared medium of payment) should incentivize a winner-take-all regime,” say Bickell and co.

But experience with other ecosystems suggest that this is by no means certain to happen. For example, a single computer operating system has never been able to outcompete all others, regardless of the ruthlessness of its deployment. Neither has any human language or religion or fashion wiped out all others.  

That’s not to say it can’t happen. But unless there is significant external manipulation of this market, the likelihood is that there will be significant diversity in the cryptocurrency market for the foreseeable future.

David Ogden
Entrepreneur

David https://markethive.com/david-ogden

Crypto Portfolio & Vitalik Buterin explains Ethereum

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;

 

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Click Here To Get Free Access To BE YOUR OWN BANK 2.0 Group 

FINANCIAL EDUCATION & UPDATES & SERVICES & EARNINGS & INVESTMENTS

Precious Metals & Cryptocurrencies & Blockchains & Wallets & Trading & ICOs

CLICK HERE TO GET INSTANT ACCESS TO BE YOUR OWN BANK GROUP

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

Crypto Humaniq Project For The Unbanked People Worldwide

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;

HUMANIQ PROJECT 

 

LEARN ABOUT WHY-HOW  

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Get FREE TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Crytocurrencies & Blockchain & Trading & ICOs

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

Crypto Fortunes & Its Still Early For Crypto Currency Investors!

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;

 

LEARN ABOUT WHY-HOW  

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Get FREE TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Crytocurrencies & Blockchain & Trading & ICOs

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

Billion Dollar Cryptocurrency Club Swells to Six Members

Billion Dollar Cryptocurrency Club Swells to Six Members

Billion Dollar Cryptocurrency Club Swells to Six Members

Bitcoin’s market cap surpassed $37 billion today when the price hit $2271.16, commanding more than a billion in trade volume in a 24-hour period, according to coinmarket.com. The total value of the coin market is now at $81.3 billion, as the last two days added more than $10 billion to the capitalization.

Bitcoin’s value has almost doubled in the last month, even while its market share has fallen below 50%, thanks to the gains of other cryptocurrencies. Bitcoin’s gains have been steadier than most of the altcoins, but collectively, altcoins are rising at a faster pace.

Asian Trading Remains Key

Rising demand for bitcoin by Chinese and Japanese investors combined with falling stocks and other factors to push bitcoin to new heights. Because the Japanese yen holds the largest share of bitcoin trading, Asian trading pushes the prices higher.

The Nikkei Asian Review today reported, “Bitcoin going mainstream as Japanese business signs on,” signaling bitcoin’s growing popularity in Japan, which recently recognized bitcoin as a method of payment.

Asian interest in bitcoin increasingly carries over to other currencies, as indicated by the gains for Ripple and NEM, the two most popular altcoins in Japan in terms of demand and trading volumes.

Japanese regulators also decided to abolish the 8% consumption tax on transactions of bitcoin bought from exchanges, which is set to go into effect in July this year.

Progress On Scaling Continues

Today’s announcement that a majority of bitcoin miners have reached a consensus to deploy the Segwit2Mb protocol upgrade for bitcoin also bodes well. Bitcoin’s rise has benefited from an alleviation of the fear that a “hard fork” will be needed – dividing bitcoin into two currencies – to improve bitcoin transaction times. A successful deployment of an alternative scaling solution indicates the hard fork that would have resulted in two separate currencies in order to speed up bitcoin transactions may not be required.

Wences Casares, CEO of bitcoin wallet Xapo and a member of PayPal’s board of directors one bitcoin would hit $1 million before the next ten years while speaking at the Consensus 2017 conference in New York.

Ethereum Continues To Amaze

Ethereum, the largest altcoin, hit more than $16 billion market capitalization with a $179.68 price, followed by Ripple at more than $13 billion. The top three cryptocurrencies — bitcoin, Ethereum and Ripple — are the only players to boast more than $10 billion market cap.

Ethereum has witnessed the fastest growth of any digital currency ever. Not even two years old, the platform is now worth more than $16 billion with its trading spaces consistently attracting more online active users than even bitcoin’s.

Ripple, designed for enterprise use and can be used by institutions for on-demand liquidity for cross-border payments, also continues to post rapid gains. Banks and payment providers that use XRP will secure better access to emerging markets at lower settlement costs.

Ripple recently committed to placing 55 billion XRP in a cryptographically secure escrow account at the end of the year, addressing concerns that it will eventually sell its 61.68 XRP as it seeks to strengthen XRP’s exchange rate against other currencies.

NEM, number four commands a $2.299 billion cap, followed by Litecoin at $1.575 billion and Ethereum Classic at $1.02 billion.

There are now six cryptocurrencies with more than $1 billion market caps.

Altcoins Keep Shifting Position

Aside from bitcoin, the rotation shifts fairly frequently among the billion dollar players. A day ago, Litecoin, Monero, and Dash displaced Ethereum and NEM, with gains of 15%, 20%, 25%, respectively.

NEM, number four, commands a $2.299 billion cap, followed by Litecoin at $1.575 billion and Ethereum Classic at $1.02 billion. There are now six cryptocurrencies with more than $1 billion market caps.

NEM has also made significant gains over the past few months. A major factor that has allowed NEM to transform into one of the most popular altcoins in Japan is its development team and company composed of Japanese founders and talents. NEM was initially developed and introduced in Japan by Makoto Takemiya, the co-founder and CEO of Soramitsu, the company that has also introduced the Iroha blockchain project to the Linux foundation’s Hyperledger Project.

Litecoin, one of the oldest altcoins, gained visibility this month because of its successful activation of SegWit, a scaling solution that circumvents the need for a hard fork.

 

David Ogden
Entrepreneur

 

Author Lester Coleman

David https://markethive.com/david-ogden

Crypto Revolution & Why Crypto Currencies Will transform Society

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;
BANCOR WEB 

 

LEARN ABOUT WHY-HOW TO 

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

 

BITCOIN IS THE BIGGEST IDEA SINCE THE INTERNET!

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

Digital currencies are part of a worldwide revolution !

People across the planet are starting to transact using cryptocurrencies and the remarkable blockchain tech! Since inception, Bitcoin has outperformed all stock indices, real estate holdings, hedge fund returns, and collectable cars! It is becoming one of the ultimate safe havens because it bypasses the corrupt global banking system. 

 

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

Cryptoportfolio: ICO Review of BANCOR Network (BANCOR tokens)

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;
BANCOR WEB 

 

LEARN ABOUT WHY-HOW TO 

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO ONLINE SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

 

BITCOIN IS THE BIGGEST IDEA SINCE THE INTERNET!

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

Digital currencies are part of a worldwide revolution !

People across the planet are starting to transact using cryptocurrencies and the remarkable blockchain tech! Since inception, Bitcoin has outperformed all stock indices, real estate holdings, hedge fund returns, and collectable cars! It is becoming one of the ultimate safe havens because it bypasses the corrupt global banking system. 

 

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO ONLINE SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

Coinhako Adds Ether for Singaporean and Malaysian Wallet Users

Coinhako Adds Ether for Singaporean and Malaysian Wallet Users

Coinhako Adds Ether for Singaporean and Malaysian Wallet Users

 

Coinhako, a Singapore-based Bitcoin wallet supplier declared that it will include bolster for ether (ETH). Clients can now purchase, offer and store ETH in Singapore and Malaysia. Ether tokens are the local coin and installment asset of Ethereum, the decentralized blockchain stage to run savvy contracts not worked by any standardized bank or government. ETH has vaulted to second behind bitcoin in market capitalization and fame.

CoinHako.com is a bitcoin wallet benefit that expects to give simple and dependable access to bitcoin and ether for clients in Asia. The organization was the main bitcoin startup in Asia to be chosen by Silicon Valley-based hatchery Boost VC. The organization is accounted for to have prepared more than SGD $350 million in exchanges since its establishing.

The administration is privately based as it takes into consideration clients to purchase in Singapore and Malaysia with local cash, however it has made notification in the past they are hoping to extend to other Asian nations. This is, of course, I highly significant development in the Asian market.

With Ether gaining steam towards being next promising cryptocurrency, Coinhako’s move on the two auspicious countries will give them a mark to gauge the gains and friction in the Asian market. Ether has made great lengths in the past few weeks, breaking record with an all-time high value.

In Southeast Asia, Singapore has definitely been a front-runner in blockchain technology, one of the biggest trends in fintech along with cloud computing, mobile payments, biometrics, and big data. Interest for bitcoin, ether, and blockchain technology in Malaysia, however, has immensely increased since last year as industry players are eyeing the country’s remittance market. With the launch of its new mobile app last year and an upgraded website, Coinhako aims at expanding to up to five countries in Southeast Asia by 2018.

David Ogden
Entrepreneur

David https://markethive.com/david-ogden

Financial Education: Is it Too Late to Invest in Ethereum?

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;
 

LEARN ABOUT WHY-HOW TO 

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – CRYPTO ONLINE SCHOOL  2 – BE YOUR OWN BANK 2.0 GROUP

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

 

BITCOIN IS THE BIGGEST IDEA SINCE THE INTERNET!

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

Digital currencies are part of a worldwide revolution !

People across the planet are starting to transact using cryptocurrencies and the remarkable blockchain tech! Since inception, Bitcoin has outperformed all stock indices, real estate holdings, hedge fund returns, and collectable cars! It is becoming one of the ultimate safe havens because it bypasses the corrupt global banking system. 

 

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – CRYPTO ONLINE SCHOOL  2 – BE YOUR OWN BANK 2.0 GROUP

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden

History’s Largest Ponzi Scheme Will Collapse Crypto Currency Will Replace it

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<>;
 

Join the 'CRYPTO Revolution'

Protect & Profit From Debt Collapse & Cashless Society

Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

For the moment, we are in the calm of the proverbial eye of the largest hurricane ever,and it is the calm before the  inescapable storm that will be more financially destructive than the 2004 Indian Ocean tsunami. If you fail to understand what money is vs what currency is, you remain at risk! 

 Most people are rational and respond to adverse financial incentives (like negative interest rates) by doing whatever they can to preserve their capital by moving their money to the safest possible banks plus learning to  'Be Your OWN BANK 2.0

WATCH VIDEO – CLICK HERE 

 

BITCOIN IS THE BIGGEST IDEA SINCE THE INTERNET!

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

Digital currencies are part of a worldwide revolution !

People across the planet are starting to transact using cryptocurrencies and the remarkable blockchain tech! Since inception, Bitcoin has outperformed all stock indices, real estate holdings, hedge fund returns, and collectable cars! It is becoming one of the ultimate safe havens because it bypasses the corrupt global banking system. 

 

Become truly educated on the past-present-future of money and financial technology!

ACCESS FOR FREE 'BE YOUR OWN BANK 2.0' GROUP

PRECIOUS METALS & CRYPTOCURRENCIES 

FREE TRAINING & SERVICES & EARNINGS 

CRYPTO TRADING & CRYPTO ICOS

CRYPTO ONLINE SCHOOL

JOIN HERE NOW !!

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden