Cryptocurrencies are all the rage right now.
Everywhere, you see headlines that make hundreds of percent impressive profits for “coins” like bitcoin. What values them? When did you use bitcoin?
The truth is that this is not practical at the moment because of the time it takes to complete an operation in the first place. But there are other coins that are emerging as live candidates to win bitcoin as the number one cryptocurrency.
There’s a lot to understand about the intricacies of cryptocurrencies, but it’s more about finding an investment opportunity than the scientific explanation behind this article.
A balloon in Bitcoin?
One thing that is important to know is the concept of “mining”. This is the basis of cryptocurrencies. This is how new bitcoins are made.
Simply put, the “miner” solves a complex mathematical problem with the help of a special program, and as a result is rewarded with new bitcoins. The transaction is then stored in a blockchain, and these new bitcoins are officially in circulation.
Because more bitcoin is in circulation, it is more complicated and time consuming to extract them and less profitable. This means that although about 80% of the available bitcoins are currently in circulation, the latter will not be issued until 2140.
As many people know so far, bitcoin has seen a huge rally this year. In fact, in the last year, this figure has risen to about 1,200%, making many people think it’s in the foam.
The total value of bitcoins in circulation now exceeds $ 150 billion. If Bitcoin were a company, it would be in the top 50 in the United States.
Personally, I believe that the only reason why bitcoin is more valuable than other cryptocurrencies is because it is the first to flow. Still important. At least it gives other coin developers something to improve.
The good news is that even if you think you’ve missed the boat with bitcoin, there are plenty of other cryptocurrencies out there. Of course, some are fraudulent, but some have real potential.
One of those who believe that it has a real, practical use is called the Stone.
Dash: Digital Cash
First, Dash is ahead of the game in terms of convenience. Currently, bitcoin transactions take an average of about 10 minutes to an hour. Dash has become a major cryptocurrency that can be transferred instantly (in less than a second) between parties, and this has become more practical when it comes to buying items online or in-store.
One of the most attractive features of Dash is that 10% of the newly issued coins are transferred to Dash DAO (a decentralized autonomous organization). Simply put, DAO is Dash’s treasure. That’s more than $ 600 for today’s coin, which is $ 4 million a month.
It is important to know that no other coin has such sustained funding. With this money, Dash DAO can develop and market the currency.
Also, anyone can submit an idea for a project to increase the value of Dash. The project is then voted on by thousands of Dash developers. An example would be a partnership with stores to make Dash a suitable transaction tool for their goods.
Of course, these developers make money from Dash, so anything that benefits and promotes the currency will be attractive.
This creates a circular effect that increases the value of the currency as it is better financed and marketed, then the DAO makes more money and can bring the Dash to market more.
A breakthrough for Dash
To date, Dash can be used to purchase goods or services in more than 300 physical stores and more than 100 websites. But progress in this can come from the cannabis industry.
Banks are not currently allowed to be involved in marijuana operations; everything must be done in cash. Vendors can’t even put the money they earn from their sales in a bank.
Not only does this pose a risk of robbery, but these companies also have to pay for storage and transportation costs. It is added in a short time.
Using Dash will be great for these vendors. Dash also means great things for the price.
The good news is already moving forward. In April, Dash partnered with a digital payment system called Alt Thirty Six, which has partnered with some of the country’s leading dispensary business management software companies.
This software company monitors transactions for hundreds of dispensaries and delivery services. This means that Dash users already have access to hundreds of currencies.
The price has risen 118% since Dash officially became a payment method in the Lower Thirty Six on October 11th. It’s only a month and a half.
Just the beginning
With a market value of just $ 4.8 billion compared to Bitcoin’s $ 156 billion, I believe there is still much room for the Stone to move forward.
The cannabis industry is just the beginning for Dash, but it is a very good field. In 2016, legal sales were about $ 7 billion. Another estimated $ 46 billion was sold on the black market.
As more stores open and more marijuana becomes legal in more states, the law is expected to reach $ 23 billion by 2021 and $ 50 billion by 2026.
Again, this is just the beginning for Dash. The unique instant transaction feature makes it an alternative to cash and favors other cryptocurrencies such as bitcoin.