a reply to: GBP/JPY
I can explain some, I also run a cryptocurrency site, since 2014.
Think of cryptocurrency as public ledgers, that can also act as databases, with extra coding / framework.
I've always envisioned our future, requiring such things, to power the large datasets needed for everyday life, while also keeping them separate for
Bitcoin was the 1st, but by far, not the most useful, infact, it's pretty pointless when compared to other altcoins, like Ethereum. But like all 1st's
it's popular, an if devs work some magic an interconnect Bitcoin to Ethereum, like there is talk of, then Bitcoin would ALWAYS be the most valuable
As for the halving, think of it as, having a baseball card of a player, an they stopped playing, or went to another team, that card becomes more
valuable, since less are available. That's kinda the concept here, except, it's mainly all on HYPE. Until bitcoin adds some more functionality other
than a currency. Since Ethereum is about to eat it's lunch!
But, does that mean you should invest in them? ( Caution should be advised in HUGE doses! )
It's Extremely manipulated as volatile, and it's not manipulated, like you'd think.
Bots actually manipulate the currently more now than ever, an while some are programed an controlled by humans. Others are just automated with very
poor scripting, that basically makes it follow a leader in a sense.
So if you invest, be ok with losing it an profiting of course. lol
And keeping some in, while pulling out some profits, is always a good idea, as you reap best of both worlds, % gains, an safety nets for negatives.
-- But this is all in its infancy, to the point that things can an will change overnight, for the good and bad.
Ethereum is my fav right now, as it's really a foundation for other cryptocurrencies and applications!
(Cryptocurrency's TRUE POTENTIAL!)
But it's not worth as much, because card games and entertainment ideas are being tested still, while interest is drummed up for larger company trust.
The private blockchains are nothing more than private databases or branded tokens, like coke points, chuck e cheese arcade tickets, an USD, they can
be printed into infinity an thus have the price controlled an manipulated at will by the owners.
You gotta do some research, as you could get in on a company who is going to do great things, or an altcoin that has a HUGE premine an will just be
sold off as soon as it's made public on an exchange.
Exchanges are dubious to say the least, if you don't have any insurance backing the exchange, that you can verify, don't put money in them, Everyone
I've ever messed with, has just folded, disappeared, or just claimed it was hacked, an all money was gone!
So never keep large amounts of money in exchanges, and never use shady exchanges! lol
Coinbase is one I've trusted for a bit now, kinda only one I use.