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Thursday, September 7, 2017

Bitcoin Is Getting Easier To Understand, And It's Pushing Up Prices

Bitcoin Is Getting Easier To Understand, And Its Pushing Up Prices

“Crypto needn’t be cryptic.”

That was the tagline on an advertisement for the Crypto CopyFund, an investment vehicle offering a bunch of “the world’s biggest digital currencies” in a single “innovative portfolio.”

Sold by social trading network etoro, the portfolio brings together bitcoin, Ethereum, Ethereum Classic, Dash, Ripple and Litecoin into one package. Investors would be able to make (or lose) money with the rise and fall in the value of digital currencies in the same way that they invest in a stock portfolio. And like a stock portfolio sold by an investment house, they wouldn’t need to go anywhere near the exchanges. They wouldn’t need to understand blockchains and mining, know what forks are or why they matter, and they certainly wouldn’t need to tell the difference between each of those digital currencies, how they’re used, what they’re for, their trading volumes or their market capitalizations. They’d just need to know where to send their money and remember something about bitcoin reaching new heights every month.

What was really telling, though, was where the advertisement appeared. It was on the London Underground. The portfolio wasn’t being pitched to the kinds of city brokers who know all about risks and derivatives, and trade gazillions on behalf of trust funds. It wasn’t for Silicon Valley venture capitalists who know a good tech thing when they see one. It was aimed at the passengers who take the 5 million journeys to work and stores and sites that London’s subway delivers every day. It was an attempt to bring bitcoin to the masses.

Full story at

Source: Forbes

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