Is there any growth left in these two cryptocurrencies?

by , 16 July 2018
Is there any growth left in these two cryptocurrencies?
Over the past month, I've been receiving many questions from readers who are invested in Bitcoin and Ethereum.

And the one question most South African crypto investors want to know the answer to is...

“Does Bitcoin and Ether have any growth potential?”

This isn't a surprise given that both these cryptos have fallen quite substantially this year. The thing is, so has the entire crypto market - which has lost over R350 billion of its value this year.

But if you hold bitcoin or ethereum, today I want to ease your fears and show you why there's still massive potential for both cryptos to surge.
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#:1 SEC confirms Bitcoin and Ethereum are not securities
in June 2018 – This is huge news!

 
Regulation is another cloud hanging over crypto. And one question has remained unanswered.

Are bitcoin and Ethereum securities, and what would it mean if they were?

Well, if they were securities they would be subject to the same rules and regulations as securities. Including the fact that people who hold them, must register.  This would create a massive headache for everyone involved and result in masses of red-tape and investigations.

If they aren’t securities, they fall under the Commodities and Futures Trading Commission jurisdiction, which would not require registration.

Basically, if bitcoin and Ethereum are futures, it gets very messy. If they are not, things become less messy and things like Ethereum futures can go ahead.

So, are they securities or not?

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As The Street reports:

In Mid-June 2018, the Securities and Exchange Commission(SEC) provided much-needed guidance on the securities status of the two biggest cryptocurrencies by trading volume: Bitcoin (BTC) and Ether (ETH).

William Hinman, who leads the Division of Corporation Finance at the SEC, said in his speech at the Yahoo! All Markets Summit: Bitcoin and Ether are not securities, but that other coins might be, which would subject them to the SEC’s regulations. Mostly, cryptocurrency buyers understand that tokens “do not have any rights, uses … or features, express or implied, including, without limitation, any uses, purposes, attributes, functionalities or features,” as seen in most disclaimers.

Instead, the SEC is paying more attention to how the coins are marketed. “Central to determining whether a security is being sold is how it is being sold and the reasonable expectations of purchasers,” Hinman said.

Nonetheless, the SEC’s acknowledgement that Bitcoin and Ether are not securities helps to introduce some regulatory certainty into the cryptocurrency industry. CBOE Global Markets president Chris Concannon notes that it might be looking to launch ETH futures soon. 


In his words:

 “…this clears a key stumbling block for Ether futures, which we’ve been considering since we launched the first Bitcoin futures in December 2017.”

In a bull market, this news would have sent prices flying, but given the current atmosphere, nothing happened. But don’t let that fool you. This is big news for Ethereum investors when the futures launch.


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#2: Bitcoin and Ethereum aim to compete with Visa
 
Both cryptos are working on the ability to process millions of transactions per second. And if they get this right, this technology will be game-changing.

Ethereum’s Plasma network will allow millions of transactions per second, easily beating Visa’s 56,000.

Increasing the “transactions per second” of a blockchain may not sound all that important. But it’s one of the main hurdles to “mainstream adoption” as people like to say.

As I explained in May this year,   

Consider that, Visa processes around 2,000 transactions per second on average, whereas bitcoin is around 8. But bitcoin’s Lightning Network will vastly increase that.  As for Ethereum’s Plasma network, it will allow millions of transactions per second, easily beating Visa’s 56,000.

Whether blockchain is being used for payments, computing or storage, the ability to process millions of transactions per second will be game-changing.

Both bitcoin and Ethereum are working on this transactions-per-second problem right now, and they are both very close to solving it.


In fact, one day in the future, Ethereum plasma network could be used by financial services companies, banks, insurers, central banks and even stock markets.


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There are plenty of reasons to remain positive and hold your cryptos
 
Every month, they’re making headlines. And for good reasons.

Things like: Ethereum staking amount confirmed, NYSE and Goldman Sachs opening up crypto markets to hedge funds and retail investors, the wealthiest families secretly stocking up on cryptos – all which you can read about here.

Even South Africa has jumped on board this revolution. 

And just recently, the “institutional money” is entering the crypto market.

So while it may be tough to see crypto “prices” lower than the highs from January, I’m still confident that in the long term, these will be some of the biggest money-making opportunities you’ll see in your lifetime.
  

See you next week.

Joshua Benton, Managing Editor, The South African Investor

 
P.S. Ethereum and Bitcoin aren’t the only cryptos doing big things. There are a few that have the potential to change the world. Discover them here
 
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