CRYPTOCURRENCY IS A FASHIONABLE TREND THIS YEAR. THERE ARE OVER 650 CRYPTOCURRENCIES IN THE WORLD, AND SOME OF THEM ALREADY HAVE A CLAIM FOR GLOBAL INFLUENCE. IN THIS CONNECTION, A RESPONSE QUESTION RISES: WHAT CRITERIA SHOULD THE CRYPTO-CURRENCY MEET IN ORDER TO BECOME POPULAR AND DEMANDED IN THE WORLD SCALE?
WHO ARE YOU A POTENTIAL INVESTOR OR JUST AN OBSERVER?
Currently, an increasing number of people are beginning to understand that the financial system, the principles of which were laid down several centuries ago, is already largely archaic and does not meet the needs of modern society. Its rigidity, inefficiency, and extremely slow cash flow at ever-increasing costs have forced the world to consider an alternative. And in recent years, an alternative has been found – this is cryptocurrency!
For the majority of the population of our planet, this alternative is still perceived as extreme exoticism, which arouses, at best, curiosity and sometimes even a desire to understand the principles of its functioning, and in the worst case – fear and a desire to urgently ban it! And this is normal, because any new idea is first mocked, then criticized and tried to suppress or even destroy, and then (if this idea has withstood all previous tests and survived) is accepted and sometimes even a standing ovation! And this is almost always done by those who, until recently, were ready to do and did anything to discredit her! Our recent history knows many such examples.
Cryptocurrency is no exception. Appearing on the horizon a little more than 7 years ago, it has long remained in the shadows and in the stage of ridicule, but now it is going through the next stage – the stage of violent rejection and attempts to ban in different parts of the globe. But these attempts, as a rule, end in nothing, because, I am sure that you cannot forbid something whose time has already come! Moreover, very often in these attempts, someone is simply trying to create a cheap PR for themselves.
This idea, passing through a line of fierce critics, shows itself very well. Despite all the attacks, it looks more and more viable and is gaining strength in order to one day change paradigms and break many patterns of the modern world.
The greatest burden of this burden is borne, of course, by BitCoin. With the rights and privileges of a pioneer, he is making his way forward, creating a path not only for himself, but also for other cryptocurrencies that follow. But pioneer doesn’t mean forever first. Some young cryptocurrencies are already starting to “step on the heels” of the leader of this race!
As the idea of any cryptocurrency reaches maturity, certain criteria for its successful development and formation begin to take shape, which express its ambitions to spread its influence around the world and acquire the maximum weight in the financial market.
After a long analysis, I have identified 12 such criteria. And although I believe that this list is completely objective at the moment, it still cannot be considered exhaustive: in the near future, most likely, new criteria will appear that will further strengthen selection and screening. The rule “Survival of the fittest” is relevant here as nowhere else, since the stakes are very high. Anyone who in the following years becomes the leader of this race will receive almost unlimited power and influence over the world! After all, everyone needs money, and everyone needs a fast, efficient and cheap system for transferring funds anywhere in the world without any restrictions.
So, let’s take a closer look at these criteria:
1. Investment attractiveness
Any investor evaluates his investment in terms of the potential for earning income (with a high probability of return on investment, including), based on statistics for the past. In this regard, it is important to ensure a stable growth in the value of the coin in the long term. If the value of the coin shows stable growth for at least one year, then many serious investors will probably consider it appropriate to include this cryptocurrency in their investment portfolio.
2. The maximum number of coins for mining
This indicator shows the growth potential of the popularity of cryptocurrency on a global scale. Here the number of coins that can be generated matters: the larger it is, the higher the likelihood that this cryptocurrency can become popular in many countries of the world. And the second side of this parameter is that there must necessarily be a “ceiling” for the generation of coins (this is me to the fact that some cryptocurrencies, such as Dogecoin, allow you to create an unlimited number of coins), that is, it must be clearly known how much coins will be generated in total. An increase in demand (with an increase in popularity) and a decrease in supply in the future will lead to a significant increase in the value of the coin, that is, this indicates that the cryptocurrency is not subject to inflation.
3. Cost of production
Over time, the cost of mining coins for most cryptocurrencies increases. In this regard, it is very wise to make your investment as early as possible. The only problem is that in the early stages of cryptocurrency development, it is not always possible to accurately assess its prospects.
4. Centralization of coin mining
This is an important criterion, since it allows you to create a coin generation system and a single control center in order to do it as efficiently and correctly as possible. All decentralized cryptocurrencies have a lot of growth problems, and it is extremely difficult to solve them due to the lack of a single decision-making center: various influential groups often “pull the blanket over themselves” and conflict with each other.
5. Presence of a single issuing company
It is very reasonable to have a specific company that is responsible for all activities related to the emission and circulation of cryptocurrencies. This allows coin holders to feel confident that if something goes wrong, someone is there to fix it. This reduces the risks of owning such a cryptocurrency and increases its reputation.
6. Number of participants
Any cryptocurrency is worthless without its coin owners. The more there are, the more popular such a cryptocurrency becomes, which directly affects the value of the coin as an investment instrument and as a means of payment. This is probably the most important criterion that investors and ordinary users pay attention to.
7. Linking your account to existing payment systems
It is currently not enough to simply create a cryptocurrency. She definitely needs to be taught to interact with existing payment systems. And the better this interaction is established, the easier it is to deposit and withdraw funds from the system, the less fears new participants have when deciding to join the project.
8. Availability of an independent audit of the blockchain
This is a very important, but extremely rarely met criterion. This is important because an independent company, evaluating the work of the blockchain, officially confirms that everything is in order and the coins are indeed being generated. For investors it is like a golden quality mark on the packaging!
9. Presence of the “Know Your Client” procedure
At present, the determination of government regulators around the world to eradicate the possibility of conducting anonymous transactions with cryptocurrency is very strong in order to exclude the possibility of shadow transactions for the purchase of weapons, drugs, financing of terrorism, etc. In this regard, the cryptocurrency that allows such transactions is very harmful its reputation and creates a lot of problems for itself to legalize its activities.
10. The likelihood of theft or loss of coins
This is an important factor and it is solved, for the most part, by the presence of an answer “yes” to criterion 5 “The presence of a single issuing company”. In this case, a closed system for the circulation of this cryptocurrency can be created, which will exclude the possibility of interference from the outside, and, consequently, any abuse.
11. Processing power of the blockchain
This criterion is not looked at immediately, but as the cryptocurrency gains its popularity, and, consequently, the number of transactions with it grows. But, if initially this criterion was not correctly worked out, but its refinement in the course of the development of the cryptocurrency is very difficult. Therefore, it is important at the very beginning to lay the necessary power reserve so that it is never exceeded later.
12. Popularity with merchants
This last criterion is the apogee of the popularity and demand for cryptocurrency as a means of payment. After all, the idea of a cryptocurrency was created mainly as a high-tech alternative to existing payment systems. The more merchants are willing to accept a given cryptocurrency, the more there will be those who want to use it, which will ultimately lead to an increase in its popularity and increase the value of the coin.
All these criteria constitute, in my opinion, a new standard that should be taken into account both by those who have conceived to create and bring their own cryptocurrency to the market, and by those who, realizing the full potential of such investments, are now thinking about what cryptocurrency to channel your capitals. And this is not really a trivial question!
There are already more than 650 cryptocurrencies in the world, and more and more new ones appear. Of course, most of them are created for specific, well-defined purposes and do not claim to be the laurels of the trendsetter in this industry. But still, some of them are desperately scrambling upward in an attempt to capture as large a share of the global market as possible, which, according to some estimates, could reach $ 5 trillion. already in the foreseeable future!
Based on the current state of affairs in the cryptocurrency industry, there is only one cryptocurrency in the world that meets all of the above criteria and claims a significant share of the aforementioned market.
This cryptocurrency is OneCoin.This cryptocurrency has a very high growth potential for the value of coins (up to 100 euros in 2018 from the current 6.3 euros), a very significant number of coins (2.1 billion) that can be generated, low current cost of mining coins, mining coins are completely centralized and there is a single issuing company, the number of participants is approaching 2 million people from 190 countries, there is a linking of accounts to the MasterCard system (currently, work is underway to integrate with the Chinese payment system Unionpay) and an independent audit of the blockchain is regularly conducted, a clear “Know Your Client” procedure has been created and applied, the likelihood of loss and theft of coins is excluded, and, at the same time, the processing power of the blockchain is so great that it exceeds the processing power of MasterCard and Visa systems combined!
As for the latter criterion, in June 2016 the opening of a global trading platform will be announced, where, at the first stage, up to 150,000 online stores will be placed, accepting OneCoin as payment! In the future, this number of stores will increase many times over!
Summing up: If you have ambitions to create your own cryptocurrency with global ambitions, then I advise you to familiarize yourself with the considered criteria and try to realize whether you can meet them. If not, then it would be wise to define in advance a clear target for your cryptocurrency and outline its sphere of influence and distribution.
If you are a potential investor who is exploring new tools to increase your capital, then I strongly recommend that you take a closer look at investments in the OneCoin cryptocurrency. This is the most profitable investment to date!
In case of additional questions, I will be glad to help you understand them! Contact us!