Cryptocurrency Trends To Watch in 2020
Remember the big, fanatical Bitcoin boom that came and went quicker than a fashion trend? Well, it turns out that Bitcoin, and a few other cryptocurrencies, are still around. In fact, some are even doing relatively well, comparatively speaking.
The initial fervour may have died down somewhat and the price may have had varying swings in both directions, but Bitcoin has stood its ground. And, while trusted entities like Euro Palace online casino
don’t accept cryptocurrency as tender, there are many other uses for these digital coins, aside from trading them.
Keen to know more about crypto and where it’s going in 2020
? Keep reading…
Bitcoin is the most well-known cryptocurrency by far. As it stands, its value is still fluctuating dramatically, so much so that it is very difficult to keep track of. The end of 2019 saw Bitcoin value plummet dramatically, though it did make somewhat of a comeback in the early months of 2020.
But there is a major change incoming. As of May 2020, Bitcoin will become less common by half. The number of coins generated every 10 minutes is due to be slashed right down the middle, taking the numbers from 12.5 every 10 minutes, to 6.25. What this means is largely up for debate, with analysts seeming to be torn between suggesting that value will climb, or it will fall.
It is up for debate, though is certainly something to look out for if you have your finger in this particular pie. Let us all hope that soon we can buy a cup of coffee with Bitcoin and make this whole decentralised currency circus worthwhile.
Remember when Zuckerberg and Facebook wanted to start their own currency? Well, that is still going to happen. It has been a rough road for Libra, and the storm of controversy around the idea that Facebook will have its own, bona fide currency has been nothing short of explosive.
If you like the idea that Facebook would have control over a major currency, rather than a government, you’re probably as mad as a hatter. After all, Facebook can barely manage being a social media network without major privacy scandals erupting left right and centre, how would they possibly handle operating a currency?
Either way, Libra is due to launch this year. Major backers have pulled out, governments have scrambled to enforce regulations, but it is coming. Keep in mind that at first the functionality of the currency will be massively limited, and only applicable in limited circumstances. But it probably won’t be long before boundaries are tested.
Hold your breath; Facebook are about to find out if anybody still trusts them after the Cambridge Analytica debacle.
Basic Attention Coin, BAT, has a real purpose that makes it stand apart from most other cryptocurrencies. The concept of BAT is a simple one, namely why should you give your personal information away to companies? Instead, why don’t you make them pay for it, like they rightly should? After all, Google are mining data on each and every one of us on a daily basis and getting rich doing it.
BAT proposes the concept that you use their browser, Brave, and demand that a company pay for the right to use your personal information. Though, don’t get too excited; you’ll be getting paid in BAT coins, which will be granted when you agree to allow personalised ads on your browser. What will you be able to do with BAT, once you’ve earned it?
Well, that part of the equation is probably still coming somewhere further down the line. In the meantime, it is certainly an interesting idea