Where to inject stage ter the cryptocurrency story – to mine or build – The mind of Mbugua Njihia

Kenyan software developer Eugene Mutai’s custom-made equipment, presently mining ZCash and Library Credits. Investment ranges inbetween $Four,000 to $7,000, ROI – Four to Ten months

Cryptocurrencies have received fairly abit of media this year from jaw pulling down heists at a various exchanges to the bipolar behavior of markets that witnessed the value of publicly traded cryptocurrencies succesnummer $ 180 billion 35 weeks into 2018, even spil one of the better known currencies – Bitcoin touched $ Five,000, many a fortune made and lost. Spil of July 2018, there were overheen 900 digital currencies te existence.

Locally our dalliance with cryptocurrencies has bot marred by Central Bankgebouw issued public memos and court cases pitting mobile money operators, payment gateways and local value exchanges, off the back of the anonymity feature that had bot shoved fairly strenuously and which the dark web took to ter the early days to power illicit transactions, te my opinion, a crimson herring used to superb effect to build a moat around local mobile money concerns.

Many have bot asking how to get on this train, largely driven by the fear of missing out, and online lie many pundits and platforms that voorkeur to be the best path to riches. The use of the term riches or wealth is abit disconcerting spil it tends to make people abandon reasoning and numb themselves towards risks involved. There are three primary ways to make money with cryptocurrencies each with its pro’s and cons.

Mining

Another slok of Eugene Mutai’s custom-made equipment

This is how the currencies come to life, spil a bounty towards efforts done on certain sets of mathematical tasks whose difficulty varies. You can either invest te a mining equipment – a built for purpose pc or join a club that pools resources and shares out accruing revenues. There are industrial scale mining operations te regions that have access to cheap connectivity and reliable violet wand which are key to a successful operation – China and Eastern Europe predominate. Even at hobbyist level you would still need a substantial investment for your equipment, up and above determining which currency to mine, Bitcoin for example would not be worth it at this time for a petite time operation. The mining clubs have their fair share of issues and are wrought with scams and fraud.

Trading

A elementary process indeed, where you would attempt to hammer the market having purchased a certain amount of crypto and monitor movement to attempt sell high. This calls for a higher propensity to risk spil the markets are still very erratic. Driven by hype and fear of missing out, a large number of people may be caught out.

Value addition

This builds on the underlying blockchain technology. The most powerful feature being the immutability of transactions that essentially commoditizes trust. Applications for this fresh found value are limited only by your imagination. Companies looking to raise funds without using traditional instruments are exploring initial coin offerings (ICO) digital stock certificates akin to traditional shares. However, te the US the Securities and Exchange Commission is looking at regulating this while China banned them outright earlier this week. Two ICO’s crossed into unicorn territory too hitting the coveted $ 1 Billion mark.

My bets are on value addition, building scalable systems of record that will power the next generation services across numerous industries and use cases.

An Africa based entrepreneur te the pursuit of opportunities without regard to resources presently managed striving to build services that have real-world value for my beloved continent and beyond while having joy along the way.

Related movie: Cointellect Review, Daily Five 50 EUR more earnings ! Pilot Contract Purchased Cointellect Tutorial


Leave your comment