The Secret $20 Bitcoin Blueprint
The Secret $20 Bitcoin Blueprint
Posted On Jun 21, 2014 By Louis Basenese[curated by Glen Brink for MyBitcoin Blog]
The first cryptocurrency exploded on the scene back on May 22, 2010… That’s when a web developer purchased two Papa John’s pizzas using 10,000 units of Bitcoin.
Bitcoin is a peer-to-peer digital currency — meaning there’s no middleman (the bank) getting in the way.
Back in 2010, Bitcoin was trading for less than a penny. In fact, 10,000 bitcoins were worth about $30 at the time.
Then the price of the digital currency quickly skyrocketed higher.
By 2014 — just four years later — that same $30 starting stake was worth more than $5 MILLION.
But get this…
Today, that same $30 is now worth a life-changing $20 million!
Cryptocurrency Basics
In the past, all transactions took place with an intermediary — like a bank — overseeing the process. The bank would verify the transaction, adding a certain level of trust.Cryptocurrencies completely revolutionized the old system — cutting out the middleman entirely.
Instead, digital transactions are made peer to peer. And the new system is regulated by “blockchain” — a decentralized database that records each transaction.
Essentially, when a money transfer is made, it’s then validated by a group of bitcoin miners. These are people with superpowerful computers — each competing to confirm and authenticate each transaction in the network.
They’re not doing this for free, mind you. If a miner’s computer program validates the transaction first, he or she is rewarded in Bitcoin.
At that point, the verified transactions are added to the blockchain database. So the next round of money transfers can be authenticated by miners — and so on.
[Glen also uses Bitcoin mining code: SoYqp7 and Minergate ]
Luckily for us, this new paradigm is becoming more and more popular, allowing us to invest in new cryptocurrencies as they hit the market.
Indeed, an individual bitcoin is now worth over $2,000.
Here’s the thing, though…
There are now over 831 cryptocurrencies exchanging hands on the “open markets.”
The vast majority trade for just pennies, just like Bitcoin did back in 2010…
That means there’s a chance to strap yourself to the next cryptocurrency rocket before it launches into the stratosphere.
Imagine owning a tiny pharmaceutical ahead of FDA drug approval.
Or a little software company before a major takeover.
On such news, overnight gains can far exceed a simple price double.
That’s why the opportunity in “penny” cryptocurrencies is so compelling…
And now’s the time to get positioned.
You see, the ultimate catalyst is brewing right now…
Over a quarter million new retail outlets are gearing up to begin accepting dozens upon dozens of alternative currencies from all around the globe.
Understanding Blockchain in 20 Seconds…
Blockchain is essentially the trusted backbone of all cryptocurrency transactions.Within the blockchain, transaction records and payment details are spread across a massive public database — open to all bitcoin miners in the network. There’s no centralized location for transactions to occur.
That immediately makes it transparent and verifiable.
In addition, miners’ computer programs confirm transactions and reset every 10 minutes. And each 10-minute group is called a “block.”
Each proceeding block is also verified by the mining software and then linked to the last block — creating a chain.
Ultimately, this decentralized system — with so much computing power behind it — is virtually impossible for hackers to breach without an enormous amount of computing power.
Think of it as millions of locks that would need to be picked in a rapid amount of time rather than hacking into just one place.
But it’s important to know that bitcoin transactions represent only a fraction of what blockchain technology is capable of.
The ability to maintain a decentralized system of verified data — which is bulletproof from hackers — has much deeper implications.
It can be used to track electronic voting, health records — ultimately anything that currently requires a “trusted” middleman.
As Don and Alex Tapscott write in Blockchain Revolution, “the blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
And in a recent seven-day span, over 159 separate cryptocurrencies more than doubled in value!
So if you take action right now, you can easily turn a tiny grubstake of $20 into an absolute windfall fortune.
The problem is you shouldn’t just go and buy every single cryptocurrency just listed…
As the rapid growth of Bitcoin proves, picking the right one is KEY!
Especially since there are over 831 cryptocurrencies out there…
But I’ve run every single one of them through my stringent five-part filtering system…
And based on my assessment, I’ve pinpointed five cryptocurrencies you need to get into starting NOW.
Here’s the official list…
Cryptocurrency #1: Ethereum
[Glen also uses Ethereum mining code: SoYqp7
and https://ethminer.io/20187]
When it comes to cryptocurrencies, Bitcoin is undoubtedly the most visible one on the market.But a new and more powerful cryptocurrency is quickly making up ground: Ethereum (ETH).
Like Bitcoin, Ethereum transactions are validated by blockchain technology. (See the sidebar for more details.)
But Ethereum isn’t just another cryptocurrency.
Ethereum unlocks even more potential within the blockchain system.
Indeed, it’s an entirely new cryptocurrency platform — one that comes with significant advantages over Bitcoin…
- Hit the Accelerator. With Bitcoin, each block in the blockchain is confirmed and reset every 10 minutes. But Ethereum has streamlined the validation process of its blockchain — shrinking this time down to 14 seconds.
- Thinking Beyond Currency. Along with its blockchain that records transactions, the Ethereum network also provides users with a powerful virtual machine capable of processing “smart contracts.” Put simply, smart contracts are programs written and stored in the blockchain that facilitate or authenticate transactions. Anyone can use the Ethereum platform to create a smart contract whenever they want to cut out a middleman from a transaction. For instance, this system is already being used to create campaign donation contracts and gambling platforms. As you’ll see, it can even be used to create new cryptocurrencies.
- Quality AND Quantity. There will be a finite number of Bitcoins created. Currently over two-thirds of available Bitcoins have already been mined. And with the bulk of the rewards going to early Bitcoin miners — and those rewards halving in value every four years — growth is limited for newcomers to the market. By contrast, rewards for Ethereum miners are not halved. And there will not be a cap on the maximum number of units created.
Consider that in 2017, while Bitcoin has doubled in value… Ethereum has gained more than 2,000%.
Ethereum is now the second-largest cryptocurrency in the world.
And thanks to its faster transaction speeds, some of the other cryptocurrencies we’re recommending in this report actually run on Ethereum’s platform — something that should only boost its popularity in the coming months.
Etherium is already attracting attention from some household names…
- JPMorgan Chase & Co.: The company has developed an Ethereum-based blockchain called Quorum, which serves a double role in the derivatives market. It boasts the security in protecting the identities and transactions of the players involved, while also having enough transparency to comply with regulatory requirements.
- Royal Bank of Scotland: Using the Ethereum ledger and smart contracts, RBS has built a clearing and settlement mechanism that can process 100 payments per second.
- Microsoft Corp.: The company has partnered with Ethereum blockchain startup ConsenSys to create Microsoft Azure — a cloud-based platform for business customers. These customers can experiment with Ethereum blockchain applications such as trading and payments.
Action to take: Buy Ethereum (ETH) up to $300. With the rapid trajectory of this currency, we’re expecting 500% gains in the next 12 months.
Cryptocurrency #2: TokenCard
As I mentioned in the last section, Ethereum’s platform allows users to create new cryptocurrencies of their own.To date, hundreds of these “smart” cryptocurrencies have popped up on the Ethereum network using smart contracts.
But one Ethereum-backed currency has emerged from the fray and is now enjoying a commanding lead over its peers…
It’s called TokenCard (TKN).
TokenCard is the world’s first debit card powered by Ethereum smart contracts that use the Visa payments network.
A user can simply set up a virtual Ethereum “bank account” or wallet, connect TokenCard to their wallet and make payments virtually anywhere Visa is accepted.
Launched by Monolith Studio via crowdfunding in May 2017, TokenCard raised $16.7 million in just a few minutes.
Its underlying currency (TKN) is backed by Ethereum and sports a $23 million market cap.
Better still, it trades for less than $2.
As I mentioned already, cryptocurrency momentum has already started to shift away from the limited Bitcoin platform — and toward the thriving and limitless world of Ethereum.
And as TokenCard and the Ethereum network gain visibility, this revolutionary currency won’t stay this cheap for long.
Now’s your chance get in on an explosive cryptocurrency at the ground level.
Action to take: Buy TokenCard (TKN) up to $1.25. We’re expecting 850% gains in the next six months.
Cryptocurrency #3: PotCoin
The legal marijuana industry is destroying all expectations.Sales totaled $5.4 billion in 2015 — and hit $6.7 billion in 2016.
Analysts estimate annual growth of 30% through 2020, which would peg the market at $22 billion.
This trend will only accelerate as more states legalize the drug, either for recreational or medical use, since 84% of Americans think medical marijuana should be legalized nationwide.
Yet there are still are a number of obstacles in place holding this industry back.
And not just the fact that it’s still illegal in a lot of states.
You see, federal law prohibits financial institutions from taking money made from marijuana.
This prevents any distribution, farming, cultivating or baking business involved in legal marijuana sales from using traditional banking systems.
As you can imagine, this causes a major disruption for business owners.
And it forces marijuana-based enterprises to carry unsafe amounts of cash and pay exorbitant fees to keep it secured.
Enter PotCoin (POT).
PotCoin is the first decentralized cryptocurrency specifically engineered for the underserved legal marijuana industry.
Like other cryptocurrencies, PotCoins are stored in an online digital wallet and are delivered directly from person to person on the internet.
Using this infrastructure, merchants can finally realize the savings and security that they need to run a successful business.
User accounts cannot be frozen — and there are no prerequisites or arbitrary limits.
What’s more, it’s perfectly legal all over the globe — no black or grey market needed anywhere.
Legalization campaigns are currently active in 26 U.S. states. As more and more states get on board, it will propel the marijuana market to new heights in the coming months and years.
And since financial management is a core component of development and expansion, PotCoin is guaranteed to rise as the momentum continues.
Better yet, since the currency is under $0.07 right now, it represents an incredible opportunity to invest in this burgeoning space.
Action to take: Buy PotCoin (POT) up to $0.25. Growth in this industry will be off the charts. So we’re expecting 1,000% gains in the next 12 months.
Cryptocurrency #4: Lisk
Before Lisk (LSK) went live on May 24, 2016, it was the second most successful cryptocurrency crowdfunding venture of all time. It raised $5.8 million before its initial coin offering.Why so popular? Well, just like Ethereum, Lisk has developed its own blockchain platform — one that offers a few key advantages for users and developers:
- Sidechains Clear a Path. With currencies like Bitcoin, the blockchain can get overloaded with transactions. Think of it like a single lane during rush-hour traffic. This causes the network to slow down. Lisk’s platform was designed using “sidechains,” which can be used for separate transactions without clogging up the main pathway. Think of it like building an express lane on a busy highway.
- Aimed at Developers. Lisk allows any developers to build and distribute their own custom decentralized applications within the platform. And all apps are developed using JavaScript, which is known by over 100,000 coders. So it lowers the barrier to entry for new apps in the system. Plus, these apps work on their own sidechain, which (in theory) will help apps run more smoothly.
- Democracy in Action. All blockchain transactions are validated by a computerized problem-solving process. And entries can only be confirmed by a consensus of cryptocurrency miners who are first to authenticate the money transfer. Well, Lisk incorporates a specific type of consensus algorithm called “delegated proof of stake.” This essentially means that a specific number of delegates (selected by the Lisk community of miners) are tasked with validating each block in the chain. By consolidating the miners to an elected few — rather than thousands of miners racing to verify transactions — this can be even more efficient than Ethereum.
The ability to create decentralized applications for any device makes Lisk ideal for developers working on programs for our connected gadgets.
As we continue to work toward a world of interconnectivity — when all of our devices are communicating with each other — we’ll soon be able to make purchases from just about any product.
That raises valid security concerns. And that’s where blockchain comes in.
Blockchain’s ability to securely verify transactions may help establish much-needed security protocols in IoT devices. Which is likely why Lisk recently joined Ethereum as a strategic partner for the Chain of Things — a research lab focusing on strengthening IoT security.
Something else that may help give Lisk an edge going forward are the company’s latest talent acquisitions.
In 2016, Lisk scooped up two past Ethereum insiders as senior advisers — Charles Hoskinson (Ethereum ex-CEO) and Steven Nerayoff (ex-adviser for Ethereum).
They will certainly help propel product development. Let’s get on board before it’s too late.
Action to take: Buy Lisk (LSK) up to $2.75. Given this cryptocurrency’s unique feature set, we’re expecting 900% gains in the next six months.
Cryptocurrency #5: Nexus
Rather than rush into the cryptocurrency market with yet another currency based off of Bitcoin and its initial restrictions, Nexus (NXS) founder Colin Cantrell waited and watched.He didn’t set out to make the next “new thing” in the cryptocurrency world — since we’ve already seen hundreds of copycats developed.
Cantrell aimed to redefine that very world itself.
When setting out to build Nexus, he asked himself what he would have done differently if he were building Bitcoin from the ground up.
He came up with three core competencies where current cryptocurrencies fell short: efficiency, security and freedom from regulation.
Here’s how his creation of Nexus has raised the bar in all three areas…
- Boosting Efficiency. Currencies like Bitcoin use a single-threaded system for a transaction. That’s like having one really fast forklift in a warehouse moving packages onto multiple trucks one by one. Nexus, on the other hand, is built around a multithreaded system. So each package has its own dedicated forklift. The benefits here are obvious. While it can take a Bitcoin transaction five–10 minutes to go through, Nexus is doing each transaction in under 150 seconds. When you’re talking about millions of transactions a day, that time adds up.
- Reinforcing Security. Now that it’s able to handle more traffic, Nexus must make sure each of the transactions is bulletproof. Bitcoin is secured by a cryptographic algorithm that was created in 2002. Granted, the security protocol hasn’t been cracked yet. But the newest computers are getting close — and there’s no telling if it will be safe in 10 years. That poses a huge problem for consumer confidence, one that Cantrell was not comfortable with. So he built Nexus around the next-generation of security algorithm. The result is an incredibly secure currency guaranteed to be impenetrable for the foreseeable future.
- Sidestepping Regulation. If Nexus were based anywhere on Earth, it would be subject to the regulations of the governments where it resides. So where do you go when you can’t bypass regulation on Earth? Space, of course. Nexus is poised to broadcast its network from space, 100 miles above the planet’s surface. Now, the fact that Nexus has strong ties with big names in the aerospace industry (Colin Cantrell’s father is a founder of SpaceX) is certainly creating an edge here.
At under $0.45, the potential for gains cannot be passed up!
Action to take: Buy Nexus (NXS) up to $1.00. With the possibility of sidestepping regulation by placing its network in space, we’re especially optimistic on this one. Look for 1,100% gains in the next six months.
If you still haven’t set up a cryptocurrency wallet or exchange account yet, I encourage you to check out our step-by-step tutorial by going to this page.
Please note: The cryptocurrencies in this report are not official recommendations, so we won’t be tracking them in the True Alpha portfolio. But we will provide updates as necessary for subscribers who choose to follow them.
And if you have any further questions regarding your subscription to True Alpha, click here or call our customer relations team at 1-800-708-1020.
Ahead of the tape,
Louis Basenese
Chief Investment Strategist, True Alpha
[curated by Glen Brink for MyBitcoin Blog]
Glen :-) myproempire.com
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