Opportunity of the Millennium?
As my hardcore readers know, from me and the random reporting of the centralised media, crypto has had a traumatic year. There are many reasons for this, most not accurately reported but after a whirlwind final quarter in 2017 it was inevitable that there would be a correction - this correction minor compared to the bloodbath that was October's stock reversals. Funny how nobody made this comparison - mustn't balance the argument!
Regulation, long overdue, is now firmly being enacted and a good number of crypto firms have been unable to apply the changes demanded. Scams continue to cause upset and though the recent G7 gathering intimated they had no issues with price volatility and the decentralised nature of crypto, they were, thankfully, concerned at how many had lost money through these scams.
So, what is this opportunity of the millennium? Before I explore this I will confide in you dear reader, that I have put my money where my mouth is! Is it working out for me as I'd hoped? No! BUT I am in it for the long haul and my confidence is unchanged to where it was when I began my personal journey 18 months ago. Here's why.
Quick test! Have you heard of BAKKT? What about ICE?
BAKKT is the parent of Intercontinental Exchange - a substantial company [www.intercontinentalexchange.com] which owns the New York Stock Exchange as well as the Chicago Stock Exchange.
BAKKT is building an open, seamless global network to enable us to buy, sell and spend digital assets simply, safely and efficiently.
Backed by ICEs proven financial market infrastructure and technology, this secure global platform will connect investors, merchants and consumers, making it easier, faster and cheaper to access, trade and use digital assets.
This open source, neutral platform will meet exacting regulatory standards.
So what I hear you say?
The biggest problems faced by crypto in 2018 have been the belief that it exists for criminals, that there is no regulation and that there are no serious players involved, just "back street" and invisible online type offerings.
This story should provide huge reassurance on all of these concerns; moreover the imminent launch of Futures Crypto Contracts will buy cryptocurrency extensively, thereby reducing supply and increasing demand - which is key to value.
It is anticipated that the long awaited launch of a crypto Exchange Traded Fund [ETF] will finally be approved by the SEC; such an event will open the door to institutional money.
Further, it is possible today, to buy goods and services worldwide, in crypto but where the receiving merchant receives payment in fiat - sterling, dollar, euro etc. Transaction speeds are around 1.5 seconds and payments are 100% secure.
Finally, for now; a new payment Network, to compete with Visa and MasterCard, will launch early in 2019. It will offer an alternative to the rising merchant fees charged by existing payment service providers to 60m outlets worldwide.
This, dear reader will begin the period of mass adoption.
My firm has recently launched a Blockchain/Cryptocurrency consultancy - not to sell trading platforms or "get rich quick" investment opportunities which are pedalled by so many now in the MLM world - but to educate, help everyone start their journey into the biggest financial revolution in history.
Most of us ignored the launch of Bitcoin - had we parted with $100 at launch, we would have secured 3,333 bitcoins; despite significant value falls since last Christmas, today our wealth would be $12.7m.
The next financial crash is just around the corner. You owe it to yourself to begin your journey.