After Ian King joined the Banyan Hill editorial team as their resident expert on cryptocurrencies, Jeff Yastine interviewed King to learn about his qualifications.
At one point in the interview, King made an important distinction between cryptcoins and crypto assets. Any asset created by the blockchain technology could be called a crypto asset, and cryptocoins are just the most prominent example of crypto assets. As time goes on, the blockchain will become more important and widely used, and there will be many forms of crypto assets. That’s why it is so big and important. The coins are just the first iteration. There will be many more.
One example of a crypto asset is Filecoin. That allows investors to share computer storage space over its blockchain. It raised over $200 million. Another important example is IOTA. That crypto asset allows items connected to the Internet of Things to make value exchanges. Your car will be able to automatically keep time on a parking meter. Your refrigerator will order groceries from a supermarket when you get low on certain items. Read more on this link:https://banyanhill.com/bitcoin-expert-ian-king/
In the interview Ian King acknowledges bitcoin reached an important tipping point in public awareness in 2017. And there’s no doubt the prices for bitcoin and many other cryptocurrencies went crazy, especially in November and December. However, the flow of money from institutions and hedge fund investors is just beginning. And the average person still has not invested in a cryptocurrency. The boom may become a bubble like dot com stocks did, but it is still a long way from being over.
Jeff Yastine announces Banyan Hill is putting together a crypto asset trading service under King’s direction, which will be available later in 2018. In the meantime, he asks King for tips readers can use to make money from cryptocoins. King says he has three things he looks for in a crypto asset to determine whether or not it is tradeable. That is, whether or not it’s worth buying.
The first question he asks is whether the asset solves a real-world problem. Secondly, what is the supply schedule for the asset? 80% of all bitcoin that will ever be issued already has been. That limits the supply, which will help to keep up demand in the future. However, some cryptocoins are not so limited. Their supply may be diluted in the future.
And lastly, King asks whether the technical points favor the trade.
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