In Jan. 2015 a sneak devaluation triggered billions in losses in the blink of an eye…
Then, in Aug. 2015, another country launched an even better currency attack. Markets flash crashed for four straight days…
Now, in 2017, I’m anticipating the third and biggest currency shock yet. And no one sees it coming…
If you trade it properly (DO NOT use forex markets) you could make as much as 500% gains.
–Most people have no idea bitcoin is only one of hundreds of other (potentially) viable currencies in the crypto markets.
Many of which represent tiny (but growing) digital riots against flag money, central banksters and elitist monetary policies.
What makes us most excited about cryptocurrencies is they have potential to give to the people what is rightfully theirs — economic sovereignty — and a fighting chance against the War on Cash (or, heaven forbid, another round of gold confiscation).
When given a choice between a currency that’s inflated for purposes of war, oppression, violence, perpetual surveillance and impoverishment, or a basket of currencies which require no central control and cannot be used to oppress you at your own expense, the choice becomes obvious.
The time may come, then, when cryptocurrencies will give the individual such a choice. And the incentives will be such that the choice will be plain and straightforward — even to those who aren’t switching over on the grounds of anti-Big Government principles.
The defining qualities of cryptocurrencies are that they…
- Are not backed or controlled by any government or legal entity…
- Are decentralized via blockchain technology…
- Use technology based on public-key cryptography…
If you’re just getting started in this space, there are six currencies in particular we’ve been keeping a close eye on.
First, of course, we have bitcoin, the King Kong of crypto.
Bitcoin (Upon writing: $1272) represents the first time in recorded history that an individual could transact with virtually anyone in the world without the permission of a bank, government, politician or any other intermediary. The idea of bitcoin completely blows apart the permission-based global economy.
Although bitcoin has the most secure network on Earth, it’s far from perfect.
It has a flaw. It’s pseudonymous. Although no government can control the transactions, it’s not nearly as private as it could, or should, be. Though I believe bitcoin’s price will continue to reach absurd heights in the coming months and years, there are better ways to keep your transactions private.
Take, for example, Monero.
Monero ($15.37) is gaining steam as a go-to currency for privacy. With it, transactions are fundamentally untraceable by default, but Monero also gives the user the ability to choose different levels of privacy. You even have, if you wish, the option to give anyone audit access to your Monero account.
The freedom to choose your level of privacy is where Monero gets its value in the crypto-space.
Moreover, Monero has teamed up with a company called Privacy Solutions and is working to incorporate an I2P router (an anonymous overlay network) into the works to establish a fully private communication platform. I2P networks are intended to protect from dragnet surveillance and thirdparty monitoring, such as from ISPs.
Zerocash ($39.04) is another leader in the privacy race. It uses a unique “zero-knowledge” proof of transaction system (called zk-SNARK) which can be converted from pseudonymous currency (called basecoin) to 100% anonymous currency (zerocoins).
Zerocoins are designed not to reveal the payment’s origin, destination or amount of any transaction. It reveals nothing apart from the fact that a transaction did, indeed, occur.
Factom ($3.17) is a company working to make record-keepers honest. It allows companies to secure millions of records on the blockchain with just a single digital fingerprint (called a hash). Factom is a protocol that’s built on top of the bitcoin blockchain which allows for companies and individuals to store information (from contracts to movie scripts) in a decentralized, trustless, anonymous manner. Anyone can store data on the chain without fear of alteration or loss. Moreover, it allows for what co-founder Paul Snow calls “a proof-of-audit on steroids — letting you produce a true audit trail of every transaction at every moment.”
Central databases are fragile, often messy, easily fudged and are vulnerable to all sorts of disruptions. But what bitcoin and other cryptocurrencies are doing to revolutionize value exchange, Factom is doing to revolutionize the way businesses manage data and keep records.
Even better, it’ll give investors a much clearer picture of the fundamentals in each company — allowing for better price discovery in the markets.
“Blockchains,” Paul Snow, co-founder of Factom, said in a press statement, “first pushed the boundaries of computer science with the simple yet revolutionary ability to trade digital value openly.”
“Now,” he went on, “we are pushing the limits of computer science in a second revolution. The Factom protocol allows for the open coordination of processes against immutable ledgers of data. It will have the same kind of impact on data and systems as the first revolution had on value.”
Ethereum ($20.00) is a way for groups and individuals to initiate and track contracts and transactions on a private, decentralized and censorship-resistant platform.
Individuals or companies can create decentralized applications that have, according to the website, no “possibility of downtime, censorship, fraud or third party interference.”
Around 30 major companies — including Microsoft, Intel, BP, JPMorgan Chase and a heap of other corporate Goliaths — have recently announced they’re banding together to create the Enterprise Ethereum Alliance.
Ethereum is a vast, sophisticated project that has virtually unlimited applications.
Dash ($44.35) is another one to keep an eye on. It’s price has gone absolutely ballistic this month, going from $15 to a high of $59, sitting currently at $44.35, according to CoinMarketCap.
Dash is also a privacy-centric coin which allows its users to choose privacy settings. One thing which makes Dash most exciting is its InstantSend function allows transactions to be locked in a matter seconds, with the same amount of protection as bitcoin. Bitcoin, on the other hand, can currently take up to 45 minutes or longer for a transaction to move all the way through. And though there are ways to fix it, it doesn’t seem like there is much motivation to do so at this point.
InstantSend is just one innovation Dash has taken upon itself to bring into the crypto-space. It’s ahead of the curve in terms of micropayments, governance models, infrastructure and good incentive structures. (See this page to learn more.) And it’s one of a few cryptos we wouldn’t be surprised to see still around in 10 years.
The digital currency industry is the most exciting and dynamic emerging tech space on the planet.
Many currencies will be formed, few will survive the cutthroat competition. But those which do survive will undoubtedly shape the world to come.