Ethtrade Provides Information on Cryptocurrency Research.
Ethtrade just released an overview of a major study on the worldwide use of cryptocurrencies. This information is of use to anyone who uses or is thinking of using cryptocurrencies. And, this probably includes just about anyone who invests in HYIPs. The overview contains a link to the entire document. This is recommended reading for ALL of us, not only those who have invested in Ethtrade. Here’s the release from Ethtrade…
Cryptocurrencies Research
The “Global Cryptocurrency Benchmarking Study” is The Cambridge Centre for Alternative Finance (CCAF) inaugural research focused on alternative payment systems and digital assets. Led by Dr. Garrick Hileman, the research is designed to “holistically” examine the global cryptocurrency market and, according to CCAF, is the first of its kind. Michel Rauchs, a Research Assistant at CCAF, co-authored the report.
Dr. Hileman told:
“The data we collected indicate that the number of people actively using cryptocurrency is much greater than many people previously thought.
Many observers felt that fewer than a million individuals actively use cryptocurrency, but our data suggest that today there are likely well over a million active individuals using cryptocurrency.”
The Global Cryptocurrency Benchmarking Study gathered data from more than 100 cryptocurrency companies in 38 countries around the world via secure web-based questionnaires.
CCAF said they captured an estimated 75% of the cryptocurrency industry. Over 30 individual cryptocurrency miners were also surveyed.
Four key areas were targeted including exchanges, wallets, mining, and payments.Highlights of the CCAF research include:
• The exchanges sector has the most operating entities and employs the most people, with significant geographic dispersion.
Currently, about 52% of small exchanges hold a formal government license, compared to only 35% of large exchanges.
CCAF says recent moves by the People’s Bank of China could soon alter this picture.
• Between 5.8 million and 11.5 million wallets are estimated to be “active” today.
If the average person has two wallets, this means there are between 2.9 million and 5.8 million individual active users of cryptocurrency. Approximately 52% of wallets providing an integrated currency exchange featur
• While 79% of cryptocurrency payment companies have relationships with banking institutions and payment networks, the difficulty of obtaining and maintaining these relationships is cited as the biggest challenge by this sector.
National-to-cryptocurrency payments constitute two-thirds of total payment company transaction volume, with national-to-national at 27% and cryptocurrency-to-cryptocurrency at 6%.
• Publicly known mining facilities are geographically dispersed, with a significant concentration in certain Chinese provinces.
About 75% of all major mining pools are based in China and the US.
• Regarding employment, the study said about 1800 individuals are working full time in the cryptocurrency industry.
• A considerable number of miners seem to be indifferent as to how cryptocurrencies should be treated for tax purposes, but individual miners who are not indifferent would like to see cryptocurrencies being treated as currencies for tax purposes.
• A major concern of both small and large miners is the debate about how a cryptocurrency system should scale, and what methods should be used.Dr. Hileman said that digital currencies like Bitcoin are not a passing fad. The combined market value was estimated at $27 billion. Hileman compared it to the value creation of a high-profile startup like AirBnB.
While Bitcoin may be the first and best-known cryptocurrency to emerge there are now hundreds of different types of digital coinage.
Bitcoin does remain the dominant cryptocurrency both in terms of market capitalization and usage but it has conceded market share to other cryptocurrencies – declining from 86% to 72% in the past two years.Emerging cryptocurrencies include; Ethereum, Dash, Monero, Ripple and Litecoin.
Full document available by the link
Richmond Berks holds Conferences in Mexico and Morocco.
Richmond Berks recently held promotional conferences in Mexico and Morocco. Photos from the conferences can be seen in the “News” page of their website. These are just two of a series of conferences that Richmond Berks is hosting worldwide. Future conference sites include such far-flung countries as Nigeria, Ecuador, India, and the Netherlands. You can find a complete listing of the sites, that also includes the name of the city and contact information of the local conference organizer, at this link:
https://richmondberks.com/our_conferences
If you live near to one of these cities and have an interest in investing in Richmond Berks, it would probably be worth your while to attend a conference and get first hand answers to any questions you might have about the company.
