Since 2008, when Bitcoin was introduced, the cryptocurrency has continued to abound in success.
The Bitcoin idea was novel from the very beginning. Previously, online transactions had to depend on Trusted Third Parties as a way of curbing double spending. But this system hardly seemed to work.
Enter Bitcoin, and its decentralization model which eliminated the central server and instead distributed the responsibility of recording transactions to every entity in the peer-to-peer network, and the world has never been the same again.
Nine years later, the Bitcoin model is flourishing and has taken the public’s imagination with the same fervor as the dot-com craze in the nineties or the California Gold Rush of the nineteenth century.
In answer to the roaring demand, several new cryptocurrencies have penetrated the market. None has a more promising trajectory than OneCoin, which just a few years after it was launched is primed to be the very first fintech, cryptocurrency, and e-commerce company to be traded on the stock exchange.
The IPO takes place next year in the second quarter. Investors are already lining up.
Ironically, the Gold Rush metaphor is apter than we might have imagined. You see, Bitcoin recently achieved what many people are considering an impressive milestone. Its price surpassed the price of an ounce of gold.
While some people are going crazy because of this tussle between gold and Bitcoin prices, it’s important to keep a cool head and examine the facts.
- Fact one: Bitcoin is an abstract concept. Gold is not. We measure gold by its weight. It’s psychological money, not concrete.
- Fact two: though Bitcoin’s worth is higher than that of 1 gram of gold, it’s much less than the worth of 1 ton of gold.
- Fact three: Bitcoin did exceedingly well in 2016, but it’s still light years away from truly competing with gold. You see, as of now, Bitcoin is worth only $20 billion. Gold, on the other hand, has a $7 trillion market.
So the two markets can hardly be compared as equals, at least not just yet. If things continue as they are, Bitcoin just might surpass gold.
And if that doesn’t happen, there is every likelihood that any of the rising tiger cryptocurrencies that are giving Bitcoin a run for its money will accomplish what Bitcoin could not. A good example is OneCoin, which has been steadily improving its profile.
OneCoin / OneLife Massive Success
OneCoin’s success can be attributed to its strong, transparent central management structure. The company CEO Ruja Ignatova is committed to building a world-class company that will surpass Bitcoin by having the number one cryptocurrency in the industry.
Her transparency is in stark contrast with the mystery in which Bitcoin’s founder Satoshi Nakamoto remains shrouded. No one knows who he is. Is he a single genius or a group of like-minded individuals? Is he even Japanese? Meanwhile, his personal fortune is estimated at approximately one million bitcoins. That’s $1.1 billion.
There is no substitute for transparency in business. And once OneCoin catches on, it will doubtlessly exceed all expectations. It just might be the one competitor Bitcoin won’t know how to beat.