Read background article:
https://www.thestreet.com/story/13684362/1/move-out-of-the-way-bitcoin-here-come-the-banking-heavyweights.html
Basically, a number of large banks are teaming up to create a utility coin for transfers and payments to compete against other crypto currencies. Because it's run by the banks, they will be able to directly market to all their customers (individuals and businesses). If it works, it will spread.
My predictions
- With mainstream acceptance by large banks will come mainstream attempts to regulate
- Just like with fiat currency, many countries will strive to attach real life identity to these coins
- Using these coins in any way not approved will become a crime
- Other crypto currencies will get caught in the wave - we've already seen this with bitcoin
What to do?
First, I think coins like Dash that are geared towards anonymity will get a huge boost because of both the mainstreaming and the anonymity. As legislation aims at the one thing legislators know about (bitcoin) it will allow users to slip under the radar and hopefully create a working network that's truly untraceable.
I think that moving money out of currency in general is a good idea. All crypto currencies have wild fluxuations in value on occasion - moving money into stocks (especially multi-nationals) acts as a hedge across currencies and we know that the large companies heavily influence the legislatures. Picking the right companies would be crucial.
Crypto apps are going to get HOT
Developers who want really killer skills should get up to speed on blockchain tech (I'm working on it) because when this hits mainstream there will be shockingly few experienced people. Experienced engineers with blockchain knowledge will be able to name their price.
I am so glad that our business focus in now marketing for crypto. It is a space that not many of my peers is paying attention to. Partnering up with GitGuild was the best decision I have ever made.
Definitely underserved market, that's for sure. I remember when node.js just got big and consultants were able to charge $400/hr to write basic JS just because it was "node". Good times!
Good point. Add crypto-news tag to get more reads
good point, thanks! done.
Great, but what is the catch? Keep the pressure on them. Money and markets belong to no one person or institution. We need to accept nothing less that absolute freedom, open source, transparency, and the ability of the free market to reject this coin if it becomes necessary. We must always do our best in the way of decentralization. I will not use it unless these conditions are met.
most people are so used to being watched that they aren't used to freedom. Also, I think that most people LIKE things being watched because "terrorists". Personally, I'm a big fan of cash.
Sure but OTOH most folks really don't know their ass from a hole in the ground till they're getting fucked.
sometimes they still don't. It's called a glory hole.
The catch is the pigs, the man, and the uncle.
Me I take a rather blunt point of view on these shitpile actors: fuck em. Dash, z.cash have bright futures.
It's Ether all the way down, baby.
This is why anonimity & fungibility is important, if the coins are not fungible, then blacklisting and harrassing will happen non-stop. Bitcoin should fix this asap.