At Minery we care about our investors and token-holders. For this, we decided to comment the current situation on the cryptocurrency market which makes everybody crazy lately.
While everybody is talking about bitcoin experiencing lessening of its gap with dollar, there are a few things you need to know about this market.
1. Volatility is intrinsic to various markets. The example of that is stock market which constantly has fluctuations. The same is true about gold and other precious metals market. Nevertheless, in the near term, the level of bitcoin (and other cryptocurrencies) fluctuation will be dependent on investors seeing more opportunities in it. Including the possibility of cryptocurrency being way to secure and diversify individual assets and provide for a trustworthy store of value, thus increasing its adoption.
2. Something that also influences the situation on both stock and crypto markets is rise of market volume. John Cassidy from The New Yorker wrote in February 2018 regarding the stock market: “...when markets are trading at extremely high levels, they are very sensitive to sudden changes in sentiment, and that is what we are now witnessing.”
Digital currencies with their quick exponential growth in 2017- beginning of 2018 were subject to this effect too. And just like it happens to any other market, once the moods go back to normal, it continues growing.
3. Analytics affirm that cryptocurrency market is going to live always. Humanity used shells, gems and precious metals for trading and exchanging it for goods and services. With industrialisation and introduction of paper money, it has become the new golden standard. We all know that currency is any item or product which main use is as a store of value. And what Keynesian economics says about demand creating its own supply, the premise is that Bitcoin is the inevitable technological progress that would shape our global economy, bringing advantages.
4. Anticipated revival of cryptocurrency market is expected to be within 2018. Tone Vays, a well-known New York-based analyst and consultant, in his interview with NewsBTC.com predicts that the price of bitcoin will reach $25,000 by the end of the year. Ronnie Moas who is another famous financial analyst, Bitcoin enthusiast and founder of an investment firm, thinks along the same lines. He estimates that bitcoin will reach $28,000 at some point throughout 2018, and in the future will become “the most valuable currency in the world.”
5. Giants of Internet industry and large companies every day form new ICOs and issue their tokens and coins. Needing more and more large computing power for that. Not to mention the existing coins which are been mined at homes and farms by all who have already recognised the main idea and power behind the cryptocurrency market.
6. There are numerous success stories of people who bought or mined bitcoins on their rise, and now own a fortune of millions of dollars. Like Jeremy Gardner who dedicated his life to crypto assets and blockchain technology, and turned biggest part of his assets into cryptocurrency investments. Or bitcoin millionaire Roger Ver whose passion for cryptocurrency made him a bitcoin startup investor. Now he generously helps others grow their businesses, and also donates millions to charities. Another story is Erik Finman who began investing in bitcoins at the age of 12, or this ex-software engineer featured in Forbes.
What unites them a is their belief that digital currency is The Next Big Thing. And so do many others who share the ideology behind the decentralised cryptocurrencies and have profits from buying coins or mining them on their Antminers.
Founders of Minery love and value stability, which is one of the key tasks of the cryptocurrency mining. Once solved, it makes mining more profitable, removing a lot of inconvenience. And getting real profits from digital currency mining, one no longer considers its digital, aiming to scale this process to a larger-size business.
This is the exact mission we chose for Minery project — helping ourselves and others build and scale their mining business. We do this by building the largest legal mining facility in Siberia, the Far North of Russia. It has the most favorable mining conditions with cheapest legal electricity and minimal hosting fee.
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