November 20, 2017 (Windy Hill Beach, South Carolina) —- “There have been more than 160 coin offerings this year, collectively raising more than $3 billion, according to research firm CoinDesk.”
Source: Aaron Back, “If There Is a Bubble, It Is Most Likely In Bitcoin”, The Wall Street Journal, Nov 20, 2017, p. B11
The article begins by wondering “If the markets are at a top”, followed quickly by comparing today with “Past episodes of market euphoria”, and ended with the warning that “Schemes to lure credulous investors also tend to proliferate near market tops. Investors should proceed with caution.”
I started accumulating cryptocurrency in December 2015. I mined over a million OneCoins in 2016. What attracted me to OneCoin, in part, was the company’s business plan creating a cryptocurrency that would be useful in day-to-day exchanges. Last December, I bought my first Bitcoins. The thing that I most liked about Bitcoin was (and is) the fact that there’s only about 16 million of them available, and that number will grow very slowly (a batch of 12.5 Bitcoins will be mined every ten minutes over the next few years, and the batch size will decrease by 50% periodically after that). In total, only about 21 million Bitcoins will ever be created. Bitcoin price was up over $8,000/coin this weekend, and I think it likely that the inelasticity of supply means this is just the beginning, not a bubble.
The cryptocurrency that I’m most enthusiastic about today is ProCurrency. It had its ICO earlier this year, and what attracted me most, again, was the company’s plans for usability. I think ProCurrency may quickly become the most-used cryptocurrency in the world. Learn more about how ProCurrency, eCommerce, eLearning, and the Sharing Economy fit together by signing up for free account at http://www.home-based.biz —- you can start accumulating ProCurrency as free rebates on stuff you purchase from over 4,500 merchants, including WalMart, Best Buy, Home Depot, and Office Depot.