People will Buy Fairy Dust if they think it’s a Gold Nugget!

The Internet is a hive of activity for innovative ideas simply waiting to sprout. Without the Internet, there would be no online social media, no cryptocurrency trading, no online trading, and no blogs. Society as we know it would be slumbering in ‘backward isolation’. An absolute tragedy to say the least. Fortunately, the ones and zeros that pepper the online multiverse have allowed for the creation of an infinite reality where the only limitations are the constraints of the human mind.

The success of BTC is attributed to a person, a group, or a technological marvel known as ‘Satoshi Nakamoto’. This individual or group of individuals has never been unmasked by the public, and likely never will. Precisely who created such revolutionary technology remains a mystery. The viral nature of introduced technologies has exponential growth potential. We have seen this in the phenomenal popularity of social media hubs like Facebook, Snapchat, Pinterest, Twitter and the like. The viral power of new age marketing on YouTube has propelled the rise of digital currencies, modern technologies and Internet sensations.

Has Fiat Currency Lost Favour?

That being said, a myriad of opportunities in the trading realm is now available to all of us. Digital currency trading has exploded in recent years. Thanks to the failure of traditional banking enterprise, and the loss of confidence in central banks to prop up economies during recessionary times, we now have Bitcoin, Litecoin, Dogecoin, and Ethereum to name but a few. In next to no time at all, Bitcoin has exploded out of the blocks. This digital currency began trading in the aftermath of the global financial crisis.

By 2011, BTC reached a price of $1 – parity with the greenback. Fast-forward to July 24, 2017 and that same unit of Bitcoin is the equivalent of $2,758.55. What is driving the BTC phenomenon? For starters, we can safely say that this digital currency has enjoyed a strong uptick in popularity through wider acceptance in e-commerce circles. The blockchain technology that characterizes BTC trading is revolutionary, and banks, financial institutions and laypeople are quickly cottoning onto the concept that there is merit in blockchain technology.

For starters, the inclusion of middlemen and brokers are obstructions to the smooth functioning of the technology. BTC runs off a mathematical algorithm that allows miners to cultivate the currency. Presently, BTC transaction times take around 600 seconds. It is one of the slower blockchain technologies on the market, especially when compared to Ethereum transaction times that take just 15 seconds. ETH was launched in 2015, and it is similar in many respects to BTC.

Rapid Rise of Cryptocurrency Paves the Way for Success

ETH is also a blockchain-style system. It functions as an alternative digital currency with centralized applications. When it launched, it was priced at $2.80 per unit and it has rapidly risen to its current price of $228.42 (July 24, 2017). Much like BTC, it witnessed a dramatic spike in popularity in June and July 2017, swelling to all-time highs. There are some major differences between these cryptocurrencies, notably the fact that BTC will be capped at 21 million units by 2040. The supply of Ether (Ethereum) is infinite however.

This means that it is not a finite resource like other commodities (gold, silver, BTC etc.), which could limit its overall price/growth differentials. Presently most of the BTC that exists was fully mined by early adopters of this digital technology, while ETH is owned by buyers of the digital currency. ETH, DOGE and others are heavily reliant on the price of BTC. The strong correlation drives demand for all of them. We have seen a strong surge in demand for these cryptocurrencies, and traders certainly see this fairy dust as the perfect gold nugget in the modern age. It’s relatively easy to buy Ethereum on trading platforms, and this digital currency is fast gaining favour as a strong-growth cryptocurrency.

A Modern Day Marvel – Finding Your Fairy Dust

Sometimes it’s a technology that explodes out of the blocks (blockchain technology) and at others, it’s an entrepreneur with a unique vision such as the Tai Lopez success story. The latter character has been described as a modern-day marvel – the quintessential American dream. Lopez lived a poor man’s life, surfing couches and the Internet. Lopez didn’t rely on luck to build his brand. He touts information and guru advice as the reasons for his phenomenal success. In Lopez’s world, every day is an opportunity for personal enrichment. Not of the pocket, but of the mind. Today, he’s got a garage filled with Lamborghinis and exotic sports cars, and that’s just the beginning of how the Internet’s fairy dust became his gold nugget.