My Crypto Journey
Disclaimer: I am in no way shape or form an investment guru. I’m just a guy investing based upon personal beliefs.
Encounter One
In 2014, my freshman year of college, I recognized Bitcoin technology but I didn’t pay attention to what it is because it seemed like another headline about some corporation coming out with an amazing product (boy was I wrong). At that point in time Bitcoin was around $600, I think, with Litecoin standing far below that in price and that was all I knew about the projects (money didn’t capture my attention) but I wish I had taken to time to learn what they were exactly. Oh well, -cries inside-.
Where I Stand Today
Now it’s 2017 and I am all the way in. I bought a graphics card to increase the mining performance of my rig and now I spend at least 1-2 hours a day listening to podcast, reading whitepapers, and glaring endlessly at Reddits at 3am.
Which Crypto Do I Believe in
Again: I am in no way shape or form an investment guru. I’m just a guy investing based upon personal beliefs.
Siacoin
When we decide to store our data in “secure clouds”, our data is at the will of large corporations and up until lately I haven’t really been scared of that. My thought process was “lots of money, lots of security”, wrong once again. “The larger the company the bigger the target” it seems and that is a serious problem. This is where Sia comes in to store data in a decentralized way. The way Sia does this is by spreading your data across a network formed by computers setup by me and you, this creating a plethora of locations for the bad guy to search. But your data isn’t plainly sent or stored, it is encoded in a way that it can only be decoded by you. One other plus is that there is no off button for the platform meaning that no big corporation can pull erase your data without your consent. The only way for it to fall, like Bitcoin and its block-chain, is for everyone to abandon it. We become the Network.
Digibyte
The name sounds like Digimon, a show that always excited me as a child, that’s how the project caught my eye. But what made me interested in the project was an article about it being used as a game currency in Minecraft and that touched my soul. Imagine a universal game currency where all platforms accepted it. The amount of money players could save would be phenomenal as they could use the money on one game and transfer it to the next. No more forgotten game currencies in game shops.
Cardano
The fees for Bitcoin are a bit steep people and they will get steeper as it’s block-chain gets longer. That’s where I believe that Cordano will save the day. The team that developed Cordano are all experienced developers/professors that came together to solve that issue while continuing to solve the original issue Bitcoin was made for decentralization of currency. I don’t want to have to pay more because of a harsh algorithm. Why not bet on these guys?
My fear
I didn’t invest more than I could afford to lose into Crypto so there aren’t any financial fears coming from my ends BUT I’d hate to see it abolished or outlawed and/or abandoned. That’s what we have to stand up for, changing the world for the better. Block-Chains are trying to do just that so let’s support these projects.
May the crypto be with you!
Thanks so much for your time! :)