As you might know NEM/Mijin/XEM and Ripple/XRP are currently two major players with real ability to get major banking contracts to replace obsolete centralized model inside banks and between banks with block-chain or similar direct consensus technology. This boosted price of both tech to all time heights and top crypto market places.
In crypto market land NEM de-throned "crypto silver" Litecoin from fourth place. If positive news continues, even ETH cannot be certain of its current position.
Although I consider NEM technology superior to Ripple, in business area one can never be certain if best project wins the game. Anyway results are interesting like 90% savings by using NEM/Nijim technology in banking sector. Only pity is that if we stay with current centralized model where banks rule, most people will not benefit from these savings and new technologies.
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I read from one article that it is the Japanese market that is currently driving this upsurge by NEM. There is actually a lot of investors confidence on this coin...
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Yes, people from Japan create lot of demand. Just based on some numbers, XEM/JPY trading is over 10% of all XEM trades. However XEM is still traded on just several markets, I'm quite sure this will change a lot soon and most of big exchange will not miss a chance to have XEM pairs.
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Currently there seems to be a lot of Investment Interest into the crypto market leading to huge price increases. I don´t think that this current picture actually shows which one of them will actually survive in the end.
Further I think you have to differ between the short and long term winners. In my opinion Bitcoin is a short term winner but with the current setup it won´t be able to make it in the long run. Other coins just got faster transactions and more features. But anyways it will probably take a long time until the public will really use this decentralized technology for exchanging money.
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Yes, in crypto world nothing is certain. Bitcoin suffers now but it still has it's purpose and it will be improved soon imho so it might actually still surprise a lot. Bitcoin has currently two major problems, psychologically high price and scalability issue.
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I really hope it will improve and rise in importance as well. But additionally to your two issues I think one other major one is that the public hears the word "Bitcoin" too often in connection with bad things happening. Just take the latest ransomware attack. Of course the community knows that Bitcoins are just used for the payment. But the public certainly doesn´t :(
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