Bitcoin Not Giving a Big Enough Hit as ‘Gateway Drug’

Interest in bitcoin hit its high point leading up to its own high of $20,000 in the middle of December last year. Interest peaked, not only in investing circles, but also in the mainstream as bitcoin became the buzzword on everyone’s lips.

This adoption was championed by bitcoin as it welcomed millions of users to the cryptocurrency community, as expressed in Coinbase’s figures alone. However, in this fast paced ecosystem, bitcoin is not enough to hold the attention of this vastly diverse community. So, while it may be the ideal coin to get people hooked on cryptocurrencies, once they are in and settled, there is time to seek out a multitude of other coins that are better suited to their needs or beliefs.

The draw of big growth

bitcoin’s biggest draw was the incredible returns it was offering as it rallied from 2,000 percent in 12 months. This phenomenal growth continued to increase interest in the currency, and that sparked even further growth in this massive hype cycle. It has been correlated before that searches for on Google for bitcoin are closely related to its growth – a phenomenon known as the ‘Satoshi Cycle’. In the lead up to December’s high, the Satoshi Cycle was in full effect as Google trends showed some interesting figures.

Nicholas Colas, a pioneering bitcoin analyst in the world of traditional investments, has taken this correlation very seriously and states that it plays a big part in his predictions. “Going into December, [searches] skyrocketed,” Colas said on CNBC’s Fast Money. He added that the total number of bitcoin Google searches worldwide tripled that month:

“You saw that correlates to the total increased number of wallet growth, which doubled in December from approximately 5 percent to 10 percent as bitcoin rallied.”

Already hooked

However, taking this metric into consideration, it could be argued that the new wave of adopters are now starting to disperse and find their way to other coins that are more suited to their individual needs. It makes sense that as people become educated and learn more about options in the crypto community that they begin to diversify and pick out their favourite coins to invest in. This often leads to money moving away from bitcoin and into Altcoins.

bitcoin, being the dominant, most adopted and scene-leading coin, will continue to be the ‘gateway drug’ of the community, but it is finding it harder to hang on to total support and dominance.

These sentiments are expressed by Colas, who adds:

“bitcoin is considered the gateway drug to all cryptos and it has acted exactly that way. Right now [the Google search data] is telling me there’s not really that next leg up in bitcoin because there’s not that interest that leads to wallet growth that leads to price appreciation.”

Proof?

Colas tries to justify this position by explaining how Ethereum has been the only coin that has fared relatively well in the top echelons of the CoinMarket Cap:

“Some of the movement in Ethereum, which has traded much better [in January], is just money which is being pulled out of bitcoin.”

However, it is important to note that bitcoin’s price fluctuations and movements are still heavily linked to all other coins. The saying that: ‘the tide moves all boats’ is still true in the cryptocurrency market with bitcoin essentially being the tide. When bitcoin is up, most coins follow, and when it is down, the same red graphs appear to follow suit across the board.

Published at Sun, 04 Feb 2018 20:49:42 +0000

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June 9, 2017

Crypviser Will Encrypt Messages on the Blockchain for Private Communications

Crypviser is building a blockchain-based all-in-one network for secure social and business communications. ICO is currently ongoing.

Improving on Privacy with Blockchain Technology

In today’s Orwellian society, privacy has become a rare and valuable asset that some go to great lengths to protect while others simply throw it away in exchange for convenience. As technology evolves, however, so does access to privacy-oriented tools and their underlying technology.

Blockchain tech has gone a long way in the realm of financial privacy, now Crypviser wants to build upon it and extend its use onto end-to-end message encryption by providing a blockchain-based all-in-one network for secure social and business communications. The project is currently undergoing a crowdfunding campaign that will help fund the development of this network.

A unified and secure instant communication network, Crypviser provides real end-to-end encryption and unique blockchain based authentication, the latter of which allows users to truly identify and confirm each other’s identity through the user of private and public keys.

The end result is a secure and private messenger which will also feature its CVCPay system, allowing users to send funds to each other anonymously.

Crypviser ICO & CVCoin

In order to fund the development and marketing of Crypviser’s network, a crowdfunding campaign is currently taking place. Taking the form of an Initial Coin Offering (ICO), the Crypviser’s funding stage ill last until June 30, 2017, during which time investors can buy the CVCoin, the underlying token in the Crypviser’s platform.

The CVCoin is required in order to interact with the Crypviser platform and to cover its transaction fees. Transactions are required to authorize and identify the users’ access to public encryption keys, ensuring that messages cannot be forged nor can they be decrypted.

So far, the Crypviser ICO has managed to gather over $900,000. These funds will be used to cover mobile, backend, and infrastructure costs as well as licensing fees, legal services, operational costs, and of course, marketing.

The Initial Coin Offering is currently ongoing and will last until the 30th of June. Users can invest in the Crypviser ICO using bitcoin, Ethereum, and even USD. Most recently, support for the TIME token was also added. 15 million CVCcoins will be distributed, along with special benefits such as free subscriptions, access to special features, free access to the CVPay system, and more.

Can Blockchain technology help the internet regain its privacy? Can Crypviser become the merged solution we need for financial privacy and message encryption?

Images courtesy of Shutterstock, Crypviser

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