Cryptocurrency is in the early stages similar to automobiles without paved roads

in #cryptocurrency7 years ago (edited)

When i initially started with cryptocurrencies i originally bought bitcoin on coinbase in order to buy ripple. I then had to withdraw the bitcoin to a gatehub wallet (horrible idea) to buy ripple. I got lucky and bought in at the $0.20 range and let it run up to 2.00 before selling. At this point i began looking at other altcoins on coinmarket cap. I soon found out that if you discovered a good altcoin play you, chances are that you would have to sign up for a different exchange. You would then have to withdraw your coins to a different exchange and end up paying fees. Unfortunately you can never be 100% sure of the reliability of these alternative exchanges. While navigating this new sector i have learned a few things. The Achilles heel of this sector is the exchanges and getting usd in and out of the market. You are at the mercy of all the different exchanges and knowing all there downfalls, fees, and security issues is time consuming. I believe this market is in the same phase of life of automobiles when there were no interconnected interstates or highways. Imagine driving and being able to use your local roadways but if you decided to go to another town you were forced to forge though dirt and mud roads to get to the next city. This next city has all the paved roads but the two cities are not interconnected. This is where cryptocurrencey is now. I believe we will see huge profits when the exchanges are moved onto the blockchain and are not centralized by 3rd parties. Right now I am buying into any blockchain that is attempting to do this. I believe we are in the very early stages of adoption of this new sector. Once cryptocurrency can break away from the exchanges there will be less news about hacks that instill fear in future/new investors. I think the future is bright, Im personally going long on blockchain exchangesAU-Mud.jpg

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