Overview
2020 has been a wild year to say the least. With China's Virus spreading faster than wild fire and killing hundreds of thousands of people varying in age from children to seniors. Covid-19 being known as one the worse Pandemics since the Spanish Flu.
We have seen a bumpy road in economies world wide, partially to blame on the pandemic itself and the rest is directly linked to poor leadership from Governments. Along with the crash that happened in 2008 which ultimately lead to the "Blockchain Revolution" that we are in the midst of today. The slight pandemic crash earlier in March of 2020 seen the adoption rate of Bitcoin amongst other cryptos thrive.
We have also had an incredible year for Blockchain development that is being led World-Wide by different Technology Firms from small to large in size. Some of the major Tech Firms diving into the Blockchain are Microsoft, IBM and plenty of others. We have seen vast improvements upon chain of custody where it really matters the most.
The blockchain has proven to be more than beneficial in so many different aspects than just a monetary sense. The ability to work with the Internet-of-Things technology, as well as its ability to catalog information/data, should I mention how secure the Blockchain is?
Undoubtedly we are currently in the Worlds next major "Gold Rush." The last one being the DOT COM Boom which society is still reaping the benefits of along with the continued development which the Blockchain is promising to further that era to another level.
Bitcoin Continues Setting Record Highs!
Dec 27, 2020 at 12:25 P.M. Eastern Time. Today's date and time Bitcoin has set it's high at $28,387.00 and at a current price of $26,875.76 I am still hopeful that we will see Bitcoin hit $30K before New Years Day. With all of the momentum I have seen the last few days it was looking promising for earlier today.
2020 alone brought in never thought before institutions such as Paypal, Square, Fidelity, Robin Hood, Webull and more. Also talks about Elon Musk considering using the Blockchain after his tweet rallied the price DOGE Coin. "One word: DOGE," Elon Musk tweeted.
This has been a phenomenal year for Bitcoin, passing it's all time highs from back in 2017 and continuing the rally. The majority, myself included speculate that Bitcoin will hit over $100K by the end of 2021. We may see some minor road blocks in the future within the USA.
The United States needs to come out ahead in this Crypto Market in order to preserve the value of the USD. Although it appears that United States Politicians would rather see the collapse of the United States Economy than anything else. Allowing the SEC to harass companies that are actively involved in Crypto Currencies should not be allowed.
The United States should instead form a committee to oversee the wide range of crypto currencies and that committee should rely solely on the understanding of the Crypto Community to set standards. This would allow for all Crypto's to flourish in the United States and would perhaps put the USA ahead in the Crypto World making the United States the idea Country for Crypto and Blockchain projects.
I honestly have to speculate a bit here by saying, I believe that with major investors coming into crypto from Paul Tudor Jones, Stanly Druckenmiller and bringing their followers with them. Most of the wealthy people tend to influence politicians more than the voters that elect them, strange isn't it?
I think that the major Financial investors alone will be enough to force Politicians to come out for Bitcoin and allow for other Crypto Currencies to thrive in the United States. I could be wrong and Bitcoin could get charges filed by the SEC in the coming days or weeks. I am just speculating here...like everyone else right now.
Biden's nomination for Treasury Secretary Janet Yellen has been quoted publicly advising people against Bitcoin by declaring it speculative and unstable store of value. I know I totally agree with the warning from Janet Yellen, people should be warned in such a manor before they invest. They should understand the high risk categories they are in. I disagree with current outdated regulators trying to oversee new age technology that should call for a governance approach if any.
Nornickel Issues its First Metal Contract-Backed Digital Coins
Dec 26, 2020 Nornickel announced they issued their first metal contract-backed digital coins that intends to optimize "supply chain as well as transparency." The Digital Coins will be linked Palladium, Cobalt, Copper Mining and exploration.
This will allow for a complete Blockchain Chain-of-Custody for countries or regions that needs the document trail this is a great thing. I don't really see any downside to using the Blockchain in this particular manner. My thoughts are it should make the companies involved slightly more profitable along with making access to products even more feasible then before.
XRP Hit A Major Road Bump!
Dec 22, 2020 SEC charges Ripple with raising $1.38B through unregistered securities offering. However this issue had already been handled in a court room in the past and the verdict is expected to come about in the same way giving clarification once again that XRP is a currency that is separate from Ripple which is an advisement firm.
This will soon be handled in court and hopefully a fast ruling stating XRP is not a security and can not be deemed a security due to the nature of its use. This verdict may not come before XRP is delisted from most of the worlds famous exchanges in turn killing 40% or more of XRP's current Market.
We have seen the price drop significantly due to these legalities that some speculate is only a diversion tactic to stall the growth of Ripple and an undermined attempt at controlling XRP by labeling it a Security giving the SEC authority.
I am optimistic that we will see a full recovery from this insult from the SEC and XRP will continue make some astonishing gains that will make a lot of people million and billionaires. As for me, I will hopefully be buying that new Family Estate. Aw, the joys of crypto, right?
Dec 12, 2020 Flare Network snapshot of XRP ledger for Spark Token Airdrop as a result of the Hard Fork that will allow XRP to operate on the Ethereum Network adding even more uses for XRP.
Other Crypto News
Aug - Dec 27 2020 HOT Holochain Market Cap is down almost 5o percent...
Dec 8, 2020 KIN Moved from Stellar Blockchain to Solana Blockchain. KIN made the cut not only because I own over 100k but mainly because since Oct 2020 KIN has seen an increase in Market Cap by 60 to 80 Million. Since early Oct 2020 when the Market Cap was at 6 million compared to 86 million today.
My Final Thoughts
As this year winds down to an end I am Thankful that we are all able to move on to another year full of hopes and surprises, some that may not seem all that unexpected. Hopefully we finally kick this Covid-19 Virus that came from China in the butt and use this as a learning experience going forward on how to screen individuals traveling abroad from any country.
All countries were caught off guard by the effects of Covid-19 and a lot of countries are still currently implementing lock downs and halting economies forcing Governments to print Trillions of dollars into the World's Economy. Which has been a solid argument for investors to pour billions into Bitcoin and it has been paying off.
I think that saying "You haven't seen nothing yet" applies majorly here in the crypto world along with the blockchain portion. We have still yet to see the next best thing. XRP could go on to dominate everything. Bitcoin could hit a million in the next 5 years. I have seen a lot of arguments "Oh Bitcoin doesn't have a fixed supply, the code can be changed to allow more Bitcoin," I can't argue that. The code could be changed.
That is how you can tell these critics are probably not even smart enough to know where Bitcoin cash came from... I had to add that.. Thanks for reading, God Bless You, Stay Healthy and have a Happy New Year!!
New Programs I am currently reviewing
1inch.exchange I am investing a little in the Token that the exchange itself just launched. Why not try, right? The exchange itself has some decent investors that seem confident enough for me to invest a little here.
Globadino.com Cloud mining comes with 1 month free mining. Also allows for cpu mining for a certain amount daily. Also daily bonus similar to a check in.
Blockfi I started my account with a deposit of $25 into BTC and now have a total value of $57.44 sadly but not honestly sad at all only .58 cents of that total is earned from interest on my BTC. Bitcoin has more than doubled since I released my article about Blockfi and how I would be using to see the interest on a small amount of Bitcoin would grow over a few months.
Noise.Cash You should already be aware of this one but they deserve to be be added to the list.
