Procinctu Press | THE BLOG

Honoring the Saints, Relics, and Images | Lesson Seventeen | Catholic Baltimore Catechism #3

A reading of the Catholic Baltimore Catechism #3, Father Connell’s Confraternity Edition. This is Lesson Seventeen, Honoring the Saints, Relics, and Images. (copyright 1949 Benziger Brothers, Inc)

Lenten Devotion

The First Commandment of God | Lesson Sixteen | Catholic Baltimore Catechism #3

A reading of the Catholic Baltimore Catechism #3, Father Connell’s Confraternity Edition. This is Lesson Sixteen, The First Commandment of God. (copyright 1949 Benziger Brothers, Inc)

Lenten Devotion

Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

It was only a few days ago that 1 Bitcoin cost more than 1 ounce of gold, but volatility continues to pick up in the digital currency markets as many “coins” move off from their all time highs. In this article, Bitcoin, Ethereum, and Dash will be discussed. Even with the ongoing volatile swings, the overall market cap of cryptocurrencies is relatively small, and digital currencies will be a player for the foreseeable future. Now, what to do about it?

Bitcoin

bitcoin chart Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

Just over 2 months ago, the MASSIVE 50% cryptocurrency gain in 2 weeks was noted on this site, and at that same time, Bitcoin gained 21% in 1 week. Since then, there was a build-up in price to the all-time high of about $1,270 per bitcoin, as the SEC was to rule on the approval of a Bitcoin ETF. An ETF would have given investors easier access to ‘trade’ Bitcoin, and it was speculated that an approval would immediately add several hundred dollars to the price of Bitcoin.

As it turns out, the SEC rejected the ETF, and so Bitcoin trading is yet relegated to alternative platforms, and not easily accessible to institutional traders. (Personally, I think this is better for Bitcoin in the long run, as paper trading has manipulated assets such as gold and silver) However, the price didn’t crash as was expected by some, but was fairly stable for several days…..until now.

Over the last few days, Bitcoin has dropped nearly $300!  This drop is likely attributed to the “forking” of Bitcoin. If you care to learn more, here is a forking op-edAlso, here are 3 ‘forking proposals.’ 

It is doubtful that this spells the end for Bitcoin, but more likely could present a buying opportunity once the price bottoms.  Especially when considering the market capitalization of Bitcoin, compared to other assets. It has realized only a fraction of it’s potential growth, even at $1,000+ per Bitcoin. Keep an eye to see if the 100-day moving average (blue line on chart) acts as support as it did a few months ago.

What is notably actionable now, though, is that this forking issue has increased the desirability of alt-coins like Ethereum and Dash.Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

 

Ethereum

Some speculate that Ethereum will catch and exceed the size of Bitcoin in time! This is partly due to it’s ‘smart contract’ functionality. Per wikipedia, smart contracts, are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract, or that make a contractual clause unnecessary. Ethereum also uses an expanded blockchain technology than that of bitcoin, rendering it as ‘better’ to many people. For example, being able to correct the issues of Bitcoin, Ethereum is believed to have better scalability as more and more digital transactions take place globally.

Other differences to Bitcoin, are that Ethereum:

  • has a faster block time, quicker transactions
  • has more coins yet to be mined
  • encourages decentralized mining
  • has it’s own Turing complete internal code

Ethereum’s smart contract technology is enabling other companies to develop blockchain based applications. As the National Inflation Association reports, Augur (decentralized prediction market) and BTL Group (TSXV:BTL), are among those utilizing the Ethereum blockchain. BTL Group is currently testing their Interbit platform with VISA, among others.

These advances in Ethereum easily explain the drastic price moves of late. The cryptocurrency volatility was evident in March 2017, as in a span of 9 days, the value of Ethereum went from about $17 to $55! A 224% gain in only 9 days! 

ethereum chart Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

dash coin vs bitcoin Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

 

Dash

Dash coin has quite a few desirable characteristics that make it more appealing to various users. It boasts a quicker transaction, a better future forking transition, and the transactions are truly anonymous. See the infographic at the right for a Dash vs Bitcoin comparison chart.

One of the leaders in cryptocurrency volatility as of late, it’s current price sits at about $109. On Feb. 20, it was nearly $21 per Dash. That is a 420% gain in only 1 month!

 

dash coin chart Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

 

 

Bitcoin vs Ethereum vs Dash

All things considered, each type of cryptocurrency has it’s own goal. Really, it is not fully accurate to say one is ‘better’ than the other, because each is developed to achieve different ends, and each user has their own needs. Bitcoin aspires to be more of a stable currency, Ethereum provides the system on which many companies can develop and operate, and Dash points to it’s anonymity and quickness.

They all are susceptible to governments making laws, regulating their use, and the resulting cryptocurrency volatility. But then they all are immune to government central banking. So it’s just like investing in any asset, there are risks and rewards.

Personally, I recommend acquiring some Bitcoin, Ethereum, and Dash. Even look into companies like BTL Group (TSXV:BTL) who are utilizing the technology. The market capitalization of all crypto currencies combined is a mere $24 billionThat is comparable to the size of Hershey’s (NYSE:HSY) or Kellogg (NYSE:K).

These digital currencies are still relatively new, and they are open to global inflows of capital. Plus, while we can measure them against companies, they are actual currencies, and cryptocurrency volatility will probably never go away. $24 billion is not that much when the entire world has a GDP of $120 trillion. While not without risk, the potential is astronomical.

 

Hopefully this info was of use to you. Below, I will include links from our last 2 cryptocurrecy articles to do your own research, if you are interested. And with any gains you may realize, please be a good steward.

JMJ – IOGD

Travis

 

MUST SEE! Crytpo-Currencies Gain 50% in 2 Weeks After Breaking All-Time Resistance
Bitcoin and Gold in 2017 | $10,000 Bitcoin is Coming
bitcoin address Cryptocurrency Volatility | The Latest Digital Currency News of Bitcoin, Ethereum, and Dash

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Here are some useful tools:
Bitcoin Wallet
Bitcoin Charts
Bitcoin Exchanges – BTCe  Bter
Crytpo Currency Market Capitalizations
Bitcoin real time flow
National Inflation Association

The Two Great Commandments | Lesson Fifteen | Catholic Baltimore Catechism #3

A reading of the Catholic Baltimore Catechism #3, Father Connell’s Confraternity Edition. This is Lesson Fifteen, The Two Great Commandments. (copyright 1949 Benziger Brothers, Inc)

Lenten Devotion

The Resurrection and Life Everlasting | Lesson Fourteen | Catholic Baltimore Catechism #3

A reading of the Catholic Baltimore Catechism #3, Father Connell’s Confraternity Edition. This is Lesson Fourteen, The Resurrection and Life Everlasting. (copyright 1949 Benziger Brothers, Inc)

Lenten Devotion

The Communion of Saints and Forgiveness of Sins | Lesson Thirteen | Catholic Baltimore Catechism #3

A reading of the Catholic Baltimore Catechism #3, Father Connell’s Confraternity Edition. This is Lesson Thirteen, The Communion of Saints and Forgiveness of Sins. (copyright 1949 Benziger Brothers, Inc)

Lenten Devotion