CRYPTOCURRENCY INFORMATION

For those with an open mind, blockchain technology and cryptocurrency can be and is very exciting. My only regret in this is the fact that I did not take the plunge when I could have. Back in 2009-2011 I was in college and dabbled in internet marketing related stuff, a lot. I was one of those students that had to and always tried to do some extra work for money. I remember one-day vaguely trying to purchase some Bitcoin only to end up not doing it probably because I didn’t understand the process and technology. I had to create a wallet, my funds were limited and I probably gave up way too easily. Setting up a wallet seemed almost impossible at the moment. Well, to my knowledge I remember something in the range of $65 for the BTC price, which does seem a bit weird especially when you read my post about If I bought Bitcoin in 2010 how much would it be worth now. None the less, at all-time highs, I would have at least been a few thousand dollars richer – a feeling I’m sure all of us has had before. Who knows, I could have even gained some interest in it and invested more money in projects like Ethereum who also saw amazing returns. However, that’s all in the past and since I keep on hearing that we’re so early in crypto that’s it’s crazy, I decided to take the journey to create a blog about it called The Crypto Coin Authority. The reality is, that not only is there tons of money to be made in the space, the results we’ll see from the technology influencing the world in the next 5-10 years will probably be revolutionary. The number of initial coin offerings or ICOs taking place is mind-blowing and this is definitely a topic I will be diving into much deeper. Be sure to check out my post on the best ICOs to invest in. All I know is, that even if I invest only a small percentage of my net worth, I’m not prepared to lose out on another potential crypto boom. I know most of you probably feel the same way as I do and that’s why I invite you to join me on a journey of education, knowledge, and mastery in this space with tutorials, guides, reference, rants, reviews, airdrops about cryptocurrency and who knows what else on my blog. Who knows, maybe in a few year’s time all of us can be driving in Lambo’s just because of investing in Crypto – I believe (my opinion) amazing returns on your investments are still possible but I’ve been wrong before. None the less, it’s a journey and a risk I am willing to take. What about you? Here some of my favorite cryptocurrency topics I’ve covered:

General Description of Ripple Coin


Despite attracting less media attention than some other cryptocurrencies, which are supported by Ripple Labs Inc. and use the XRP currency code. Ripple Coin has the second highest market capitalization and has grown completely independent of Bitcoin. The Ripple network can be used to exchange any currency - be it a more traditional currency or cryptocurrency - and other commodities or even frequent flier miles. XRP Ripple is used as a bridge to allow exchange on the network, as the user must spend a small number of units to complete the transaction. Ripple networks are created with 100 billion units in existence and they will be reduced in supply as commonly used for transactions and destroyed. About 7.2 billion XRP has been distributed since the last update, 30 November Ripple Labs will keep 25 billion coins and give away the rest - including for charities such as Computing for good initiatives, the XRP is useful in the exchange for computing time loaned to research projects around the world. Market cap at Ripple is currently at more than $ 2 billion.


Who is the Inventor of Ripple?
The Ripple protocol builder company, OpenCoin, was founded by CEO Chris Larsen and CTO Jed McCaleb. McCaleb is well-founded in digital currency, originating from Mt. Gox, which currently handles the majority of the world's bitcoin trading. Larsen previously founded and led the online financial company E-KREDIT. Other developers on the Ripple team also have a bitcoin background. OpenCoin recently took a funding round from Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Broad Ventures and Bitcoin Opportunity Fund.
Is Ripple like Bitcoin?


In many ways, yes Ripple is like Bitcoin, the XRP Ripple Unit is a digital form of currency based on mathematical formulas and has a number of units that can eventually be mined. Both forms of currency can be transferred from account to account (peer-to-peer, or P2P) without the need for third party intervention. And both provide digital security to guard against the possibility of counterfeit money.

For a while, I’ve been fascinated by the idea whether you can get rich by launching an ICO? In general, I’ve always thought that launching an ICO is a guaranteed way to become rich. However, there’s a lot more to it than just coming up with an idea, running an ICO and getting people to invest in your project. In this post, I want to dive deeper into this subject by looking at some examples and just throwing some ideas around. Stick with me, I hope I don’t ramble on too much. An example of someone who became rich from an ICO This should not be confused with investing in an ICO. Here I’m specifically talking about someone wanting to start a business that uses a blockchain and token model to generate funds. Project: KARMA (EOS based dapp) Founder: Dallas Rushing Token supply: 9,469,148,945 Tokens given to team members: 2,840,744,683 (30%) Tokens earned by each team member: 473 457 447(this is with the assumption that the 30% supply gets divided equally between 6 team members, which I’m almost 100% sure is not true, but let’s keep it simple) Token value for each team member: $297 804 (currently KARMA tokens are being traded at $0.000629 each) Token value for each team member at all time high values: $721 075 (1 KARMA = $0.001523) Things to keep in mind with this estimation This is but one example of an ICO project. With EOS ICOs projects tend to be different as airdrops are used instead of the original crowdfunding initial coin offering method. Also, we’re in the middle of a bear market and this app has not even launched yet. I made the estimations in dollar value. It doesn’t mean that he has the money in his bank account. He owns the tokens and can sell them off course to get the money, that’s if there is enough demand for it. So, as you can see, at a very low estimate, Dallas has made almost $300 000 right now in token value with his KARMA app project. At an all-time high, it was worth more than double that. It’s not bad. In reality, it’s great and for some can be a life-changing amount of money. I could personally do a lot with almost 1 million dollars. However, I’m sure there are lots of hidden costs and additional funds needed to run this business model. More examples Other names that come to mind of those who’ve launched successful ICO projects and made millions include the likes of Vitalik Buterin and Dan Larimer. Just do a quick Google search for something like “Vitalik Buterin net worth” or “how much ETH does Vitalik Buterin have” and you’ll be amazed. Some sources say (this is from 2017) that Vitalik has 520 000 ETH. At current $200/ETH levels this sits him in the $100 million range which is absolutely crazy! For Dan Larimer, it’s estimated that his net worth is around $600 – $800 million. So, can you get rich by launching an ICO? Definitely! However, don’t be fooled. Unless you’re someone with bad or no moral integrity and want to launch a project just to scam people, you’re in for a bad trip. Successfully launching a crypto project takes lots of skills, ideas, planning, teamwork, connections, funds and time. If Dallas’ KARMA project becomes a success, who knows what each token could be worth. They could just as well surpass all-time high status and double which in return would make him a crypto millionaire. That’s a lot better then the option of selling all his tokens now for a mere $300 000 if that’s even possible (enough demand). What are your thoughts? Would you ever want to launch an ICO with hopes of becoming rich? Many did so in 2017 and made it big. Some are still trying in 2018 but struggling with the bear market. The more successful a project, the more you’ll be worth. Lots to think about.

Share this post