Why I'm Going to HODL BTC, ETH, LTC, EOS, and MKR Until They Moon!

Why I'm Going to HODL BTC, ETH, LTC, EOS, and MKR Until They Moon!

By Rekt | Rekt Report | 6 Jul 2019


Fellow crypto-enthusiasts, much like many in this community, I’m headfirst into crypto. I purchased my first Bitcoin in 2014, and since then it’s been a fervid interest of mine to absorb all crypto news and content accessible. Now it's five years later and I’m crafting Dapps and launched a modest podcast to keep new entrances into the crypto space up to speed. 

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Bitcoin is the one that started it all and has the highest level of adoption. There's so much focus on continually improving Bitcoin and their proof-of-work consensus protocol that even though sending transactions can be rather expensive at the moment, the introduction of higher levels of use of the Lightning Network could help Bitcoin become an even better e-commerce tool rather than solely an investment.

 

While Bitcoin gets the most attention, Ethereum provides the backbone of many hundreds of prominent altcoins (ERC-20), non-fungible tokens (ERC-721), most all of the decentralized finance Dapps, and powers many decentralized exchanges. Through tools like Metamask,  the interaction with the Ethereum blockchain is seamless and secure. It's no surprise that it's now the number two cryptocurrency. I see it holding steadfast to a prominent position in crypto.

 

Litecoin is one of the most useful coins for people that use cryptocurrencies daily. The cost to send a transaction using Litecoin is virtually nothing, and the blocks are quick. I went to a crypto conference in Los Angeles not long ago where is Charlie Lee, the founder of Litecoin, was the keynote speaker--alongside Tim Draper, and I was lucky enough to be able to ask him a question while he was on stage.  I find him to be an articulate thought leader for Litecoin and commentator for the crypto space as a whole. I went to the booth to purchase a Litecoin shirt and found the volunteers of the Litecoin Foundation to be the best informed and most helpful group at the conference. I like to invest in people first and foremost and Litecoin's team is stellar.

 

It's said that EOS is the Chinese Ethereum. We don't get a tremendous amount of coverage of EOS in the English speaking world, short of a YouTube channel or two touting their Dapps and much of the innovation that's happening to minimal fanfare.  The simplicity and ability to easily rent resources to interact with applications or send transactions initially wowed me, and since then they've been doing an impressive job in keeping up with this high level of excellence. For that reason, I'm holding on to it and keeping a keen eye on what's next for their development team, specifically Dan Larimer, whose work with Steem and Bitshares deserves special recognition.

MakerDAO is the biggest player in the decentralized finance (DeFi) space. DeFi is, very simply, revolutionizing financial markets. It's said that around 2% of all Ethereum is staked within a Collateralized Debt Position (CDP) on the MakerDAO platform.  The way it works is that you put up some of your Ethereum and you have DAI minted, a coin which is pegged to the US dollar. This effectively lets you leverage your crypto holdings to benefit from the upward appreciation should Ethereum continue its upward trajectory. If it goes down then the margin call feature settles things automatically. This project is especially well-regarded within the DeFi space, with a top team, and continues to grow at an impressive clip.

 

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Rekt
Rekt

Hard-hitting crypto reporter on the blockchain beat.


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