Some people think that digital currencies were a bubble and that it has burst for good — that it can not recover, that it doesn’t intrinsically provide any value, and it will only go downward from here. This is far from reality.
Bubbles burst in similar ways and below you can find a comparison between the Nasdaq Composite Index(showing the Dot-com Bubble) and the Bitcoin market cap. You can see that Jan-98 — Jan-02 part of Nasdaq Composite Index is almost exactly the same as Bitcoin market cap between Jun’17 — Jun’18.
With 24/7 trading, real-time settlement, and the ability to tokenize existing types of securities, the digital currency ecosystem provides real value to users and has the opportunity to transform the lives of billions of people. There are 3 billion people who are unbanked, and digital currencies could provide an alternative for them as well.
It’s true that demand for digital currencies was artificially increased very fast for a period and this created a short-lived bubble. But the fact that this bubble has burst doesn’t mean digital currencies are going away anytime soon. Quite the contrary, we can predict that digital currencies are now starting to grow in a healthy way, and in the long run adoption will increase and new use cases will be made available.
Coinium can be seen as one of the platforms that’s bringing in a new use case to digital currencies.
More than 6 billion people don’t have access to professional money managers and hence miss out on the 20 to 80 percent per year returns that they can bring. This is a problem we at Coinium are aiming to fix.
At Coinium we are aiming to democratize access to the money management business by empowering independent money managers like Spotify empowered independent musicians by directly connecting them to potential listeners. We have built a digital-currency portfolio manager that’s radically transparent to users and that let’s them create, follow and invest in portfolios created by some of the best money managers of our time.
We have launched our beta product at https://coinium.app and we are looking forward to connecting with you all, on the website or via email. Please feel free to have a look at what we have built and get in contact with questions and suggestions at [email protected].
We believe Coinium is an important step toward a more open financial system for the world.
Thanks to Demi Yilmaz, Shaun McCreedy, David Jones for reading drafts of this article.