We're seeing a swell coming on in the cryptocurrency market and you had better run grab your board dude! Coinmarketcap.com reports that the market cap for the entire crypto market is $381 B with BTC dominance at 39% (at the time of this reporting). This market cap represents about half the size of the tidal wave we saw in December/January. However, if you look back at that time (and our own SUPER FACTS post) BTC at its height only reached into the low 30% dominance range. Meaning? Atls are booming!!
Most people who find themselves delving into the world of crypto and blockchain (tech inclined or not) are quickly pulled down the rabbit hole of uses and implementation for these new ideas. At its core, decentralized blockchain technology are Napster/Limewire to the rest of enterprise, Peer-to-Peer. In a sense blockchain is the evolution of P2P, I say it like this because it makes it simpler for the uninitiated to see how that has worked before and can find many different ways now to shake up the world again. Now instead of trading audio and video files from person to person (which didn't really work in the end because streaming took over), we're sharing computing power and distributing ledgers through a decentralized network of users/participants. Cryptocurrencies are a coin which gains value through scarcity (like anything else), provide funding for startups (an alternative to issuing stock) and a token to be used within a particular service (platforms like Steemit and Funfair). Either way you look at it, the idea has to be good and it has to be functional (as well as exist in accordance with regulations).
So having said that, Atls are booming because people have ideas of how to use them. With added value to the ideas, the startups and development opportunities we see another influx of participants. With the light shining on Alt Coins, now its time to show and prove. Many will fall by the wayside, but with the entrance of big boys (e.g. Goldman Sachs and Venture Rock) we're going to see more development of decentralized applications, platforms and ideas. As well as a massive rise in established cryptocurencies which have real value behind them.
Lastly, to cap off this crypto rant it needs to be said that Bitcoin Cash is the real bitcoin!
Sorry, Bad Taste.
