Here at World of Crypto we strive to provide the best content regarding cryptocurrency as possible. Having said that, some posts are better than others! Here are my favorite blog posts since World of Crypto has been up and running!
1) How to Get Started in Cryptocurrency
Starting with the basics for every beginner. Every one needs to start somewhere, and that's nothing to be ashamed of. World of Crypto provides an in depth post on how anyone get get their hands on some beloved Bitcoin or Ethereum. This starting guide is sure to launch you on your way in your crypto journey.
2) The Mind of a Crypto Enthusiast
It is always interesting to pick the brains of someone who has been involved in the cryptocurrency community for the long run. Here we interview my brother, who interestingly enough introduced me to cryptocurrency.
3) The 11 Things You'll Need to Start Mining Ethereum
In this post, we provide you a list of the things you'll need to not only mine ethereum but many other alt-coins. If you've ever been interested in setting up your own mining rig, this is definitely something you'd want to check out.
4) Inspiration When Prices are Down
The crypto market is a wild ride. Often referred to as the Wild West in financial markets. We've seen prices fluctuate wildly and we've seen some major crashes. This post reminds you why its not the end of the World of Crypto when prices crash. In fact, it could be an opportunity.
Last but not least:
5) What if Bitcoin Breaks its ATH?
An article on past market trends on how cryptocurrencies will react when and if Bitcoin passes its all time high price.
Showing posts with label Crypto. Show all posts
Showing posts with label Crypto. Show all posts
Tuesday, May 1, 2018
Thursday, April 26, 2018
What if Bitcoin Breaks its ATH?
With Bitcoin still far from its all time high price near $20,000 this post will be all about speculation and hypothetical. Currently the price of Bitcoin is sitting near $8,800 (04/26/2018). The last time it was at its all time high was in December of 2017. Four months later we have seen a rapid fall in prices across the board in the cryptocurrency space. So what would happen if Bitcoin broke through its all time high?
1) First of all, alt coins would skyrocket.
The prices of alt coins have fallen harder than Bitcoin has. For example, the price of Ripple fell from an all time high of around $3 all the way down to the 47 cent range. I'm not saying that Ripple will return to $3 if Bitcoin breaks $20,000 but I'm sure Ripple will increase in value from its price today of 80 cents. It's hard to say where Ripple would end up, but a strong Bitcoin could bring along the rest of the market to test their all time highs as well.
Ripple is just an example. The large majority of alt coins would greatly increase in price as Bitcoin does as well. Currently, the health of the crypto market is largely based on the strength of Bitcoin.
2) Mining would become much more profitable.
Going off of the second point, an increase in prices would result in greater profitability for miners. Mining profitability is largely tied to both the difficulty and the prices of the coin. Monero, for example, recently saw a huge drop in mining difficulty as a hardfork in the blockchain's protocol eliminated ASICs. This saw a spike in profitability in mining the coin which was gone rather quickly as other miners switched to mine Monero. The other way to increase profitability is if the coin is simply worth more. With the recent dips in prices mining profitability has taken a big hit. If Bitcoin were to push past it's ATH, the rest of the market will be more profitable to mine as their prices get pushed up as well.
Here is an absolutely great article on Bitcoin's past ATH's and how long it took to break: https://steemit.com/bitcoin/@penguinpablo/how-long-will-it-take-for-bitcoin-to-reach-usd20-000-again
1) First of all, alt coins would skyrocket.
The prices of alt coins have fallen harder than Bitcoin has. For example, the price of Ripple fell from an all time high of around $3 all the way down to the 47 cent range. I'm not saying that Ripple will return to $3 if Bitcoin breaks $20,000 but I'm sure Ripple will increase in value from its price today of 80 cents. It's hard to say where Ripple would end up, but a strong Bitcoin could bring along the rest of the market to test their all time highs as well.
Ripple is just an example. The large majority of alt coins would greatly increase in price as Bitcoin does as well. Currently, the health of the crypto market is largely based on the strength of Bitcoin.
2) Mining would become much more profitable.
Going off of the second point, an increase in prices would result in greater profitability for miners. Mining profitability is largely tied to both the difficulty and the prices of the coin. Monero, for example, recently saw a huge drop in mining difficulty as a hardfork in the blockchain's protocol eliminated ASICs. This saw a spike in profitability in mining the coin which was gone rather quickly as other miners switched to mine Monero. The other way to increase profitability is if the coin is simply worth more. With the recent dips in prices mining profitability has taken a big hit. If Bitcoin were to push past it's ATH, the rest of the market will be more profitable to mine as their prices get pushed up as well.
Here is an absolutely great article on Bitcoin's past ATH's and how long it took to break: https://steemit.com/bitcoin/@penguinpablo/how-long-will-it-take-for-bitcoin-to-reach-usd20-000-again
Monday, April 2, 2018
Inspiration When Prices are Down
When the prices of cryptocurrencies were sky high, everyone was talking about them. Everyone was making large returns in the extremely bullish market that crypto was a few months ago and everyone had to brag about it. Well times have changed and they have changed fast.
With Bitcoin sitting under $7,000 and Ethereum under $400 it's hard to not be discouraged by the relatively low prices. Bitcoin was once near $20,000 per coin. Ethereum used to be $1,400 per coin. These are drastic dips in price no doubt. So why should you stick with crypto? Was it a bubble and did if finally pop?
Lets take a look at history. Bitcoin has been called a bubble for almost its whole existence. When Bitcoin first reached $1,000 it was called a bubble and quickly fell to the $200 range for a while. This was early 2014. That's a larger percentage dip then the current dip from all time highs. I'm sure many people took advantage of the lower prices then and enjoyed a huge upside when the market turned around.
Many people trade crypto just for short term gains. I think that's the wrong mindset. If you truly believe in the technology of the asset you would invest long term. The current prices are like heaven for any one that believes in crypto and is investing long term. This may very well be a great time to accumulate more and more cryptocurrencies of your choice at the relatively low price. Nothing is for certain, but if the market turns around like it has done so countless times, it can be very profitable. Timing the market is extremely difficult and prices may further go down. However, in the long term I believe the market is still profitable.
While you're here, check out this awesome "Just HODL" Mug:
https://www.cafepress.com/cryptoexpress.239691052
Here is an article on Ethereum's falling prices: https://slate.com/technology/2018/03/ethereum-prices-drop-explanation.html
With Bitcoin sitting under $7,000 and Ethereum under $400 it's hard to not be discouraged by the relatively low prices. Bitcoin was once near $20,000 per coin. Ethereum used to be $1,400 per coin. These are drastic dips in price no doubt. So why should you stick with crypto? Was it a bubble and did if finally pop?
Lets take a look at history. Bitcoin has been called a bubble for almost its whole existence. When Bitcoin first reached $1,000 it was called a bubble and quickly fell to the $200 range for a while. This was early 2014. That's a larger percentage dip then the current dip from all time highs. I'm sure many people took advantage of the lower prices then and enjoyed a huge upside when the market turned around.
Many people trade crypto just for short term gains. I think that's the wrong mindset. If you truly believe in the technology of the asset you would invest long term. The current prices are like heaven for any one that believes in crypto and is investing long term. This may very well be a great time to accumulate more and more cryptocurrencies of your choice at the relatively low price. Nothing is for certain, but if the market turns around like it has done so countless times, it can be very profitable. Timing the market is extremely difficult and prices may further go down. However, in the long term I believe the market is still profitable.
While you're here, check out this awesome "Just HODL" Mug:
https://www.cafepress.com/cryptoexpress.239691052
Here is an article on Ethereum's falling prices: https://slate.com/technology/2018/03/ethereum-prices-drop-explanation.html
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