EDITOR’S NOTE: This article originally appeared on the BlockchainGospel.com site in January 2018. It offers a look at what the regular Crypto Sermon column will cover.
Welcome to Iowa Blockchain’s crypto sermon, on this joyous day in January of the year 2018. All are welcome.
Everyone find a seat, and please greet your neighbors.
Now settle in, and prepare for an overview of movers and shakers, and maybe a few sleepers in the cryptocurrency space.
But before we begin this sermon, we must tell you, what we state within these (internet) walls, is for entertainment purposes only, and never financial advice of any kind. The cryptocurrency gospel we’ll share is from our own eyes, and we are not financial advisors. Do your own due diligence and research, before any other step.
- The Big 3 (or is it now 4, Coinbase?)
If you’ve come into the cryptocurrency space via Coinbase, you’ve likely familiarized yourself with Bitcoin, Ethereum, and Litecoin. In the past week, each of the 3 have seen growth. Bitcoin (BTC) is over $16,000 again; Ether (ETH) broke into 4 digits, and currently sits just over $1,100; and Litecoin (LTC) is teasing $300.
But what about Bitcoin Cash (BCH)?
Whether or not you believe in the foundation and supporters around it (another sermon for another day), Bitcoin Cash being added to Coinbase is a major step for a coin approaching a $50 billion market cap. Where will it end up? We don’t know, but we now believe Bitcoin Cash will be a powerhouse contender for top-performing cryptos of 2018.
If you haven’t yet jumped into cryptocurrency and are thinking about it, here’s a shameless plug for Coinbase and our affiliate link. If you sign up for an account through our link, and purchase $100 or more of Bitcoin, you’ll earn an additional $10 in Bitcoin, and so will we!
The link is https://www.coinbase.com/join
An open source protocol for exchanging money. They recently partnered with IBM to increase efficiency of global payments. They’re able to handle thousands of transactions per second. They’re a decentralized network, with no dependency on a single organization or entity.
These are only a few highlights of the Stellar platform; whose token is the Lumen (XLM). We like Stellar for its scalability, initiatives, and its all-star advisors (to name a few, Patrick Collison, Stripe Co-Founder; Sam Altman of Y Combinator; and Matt Mullenweg, the creative mind behind WordPress).
As Stellar seemingly progresses in the right direction, so has the Lumen price. Just under 100 days ago, that price sat between $.01 and $.02. Now, after reaching just shy of $1 this past week, a correction has brought Lumen’s price to $.70, and the market cap to roughly $12.5 billion.
We think they nailed it with their rocket ship logo—to the moon!
When we think cryptocurrency, we often think of an opportunity to get away from banks and centralized financial institutions—decentralization.
Maybe that’s why some crypto enthusiasts feel so strongly against Ripple.
Ripple wants to help banks and financial institutions—of the centralized variety.
Whether you agree or not, Ripple is making waves. It currently sits just below a $130 billion market cap, behind only Bitcoin. Ripple’s token, XRP, has been on a surge over the past month, going from a stable $.25 clear up through just shy of $4.
It’s interesting to note, Ripple already has 100+ banks as customers. With a contrarian stance on blockchain and cryptocurrency, Ripple doesn’t believe banks or fiat currency is going away anytime soon. Maybe their contrarian stance will allow them to more efficiently maneuver their way through the crypto space—or waters.
That’s enough gospel for now. Go forth and learn the ways of blockchain. And of cryptocurrencies and the companies behind them. Thank you for attending, fellow Blockvangelist.