A Crypto More Advanced and More Valuable Than Bitcoin?
Today may be the day Bitcoin breaks $14,000 — which would be huge news if only Bitcoin weren't breaking new price records just about every day.
To a vast majority of people, however, this price and the factors driving it remain a mystery.
Without a doubt, much, perhaps even most of the demand for this strange, little-understood commodity is coming from the unceasing torrent of media hype.
This can be surmised by the fact that while Bitcoin's popularity as an investment has hit epic proportions, relatively few people use Bitcoin for its actual purpose (buying things).
It is still a currency, after all, not just some abstract entity that people buy and sell to each other in a never-ending game of speculative musical chairs.
So the big question is and always has been: What intrinsic value does Bitcoin have? Is there any to speak of?
Believers in the technology will claim that yes, there is intrinsic value, and that despite Bitcoin being rooted in 21st century technology, its value is derived from the same characteristics that give inherent value to humanity's oldest investment vehicle: gold.
Bitcoin and gold share two critical traits: It takes great effort to put either into the hands of those seeking it, and it is impossible to create either by any other method.
Money: A Transferrable Store of Labor
Gold requires substantial time and manpower to find, pull out of the ground, and refine. Likewise, Bitcoin, which is "mined'" by networks of computers, takes time and energy to create — over $1,000 in electricity alone, and rising.
No matter how hard one tries, gold cannot be faked.
And trust me, people tried. For hundreds of years, an entire class of pseudo-scientists, calling themselves alchemists, tried to turn commonplace materials like lead into gold through a variety of creative but nonsensically applied chemical processes.
They, of course, failed.
Fast-forward to today, and you see that Bitcoin — thanks to the core technology behind it, the blockchain — is equally impossible to counterfeit.
Because the blockchain creates a public record of all transactions involving bitcoins, this democratic transparency makes it impossible to cheat the system by creating false copies of the digital document.
And that's pretty much it, in a nutshell...
How Much Is Substance, and How Much Is Hype?
The investment of effort, combined with guaranteed forgery-proofing, thrown in with several-billion mentions of its paradigm-shifting potential to the investment community, and voila: you've created a commodity with a market capitalization of more than $200 billion.
There is literally nothing else to it.
Now, for most people, this is not enough. There is still something missing. The value-added aspect of this commodity, while undeniable, still leaves the majority of onlookers scratching their heads.
And that's where the similarities with gold end.
At least gold is yellow and shiny (the reason early man distinguished it from all other metals in the first place). At least you can turn it into jewelry (which early man did almost as soon as he found the stuff).
You can't do either with Bitcoin. You can't even touch a bitcoin, in fact. It takes a computer just to know it's there.
Intrinsic Value Must Be Rooted in Utility
But what if I were to tell you that right now, there is a cryptocurrency out there that does have intrinsic use?
What if I told you there is a cryptocurrency that represents an underlying commodity that one day can itself help evolve humanity?
You see, Bitcoin's fame and value are both heavily dependent on one other characteristic I haven't mentioned.
It's the first of its kind.
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Unfortunately, besides bragging rights and branding advantages, being first to market has no long-term value at all.
The founders of MySpace and a score of other revolutionary first-to-market products that either faded away or never made it out of obscurity in the first place will attest to that fact.
New cryptocurrencies emerge all the time, and as technology progresses, the underlying nature of these new currencies are taking on more sophisticated, specialized characteristics.
There is one out there in particular that caught my attention some time back, because its technological foundation itself has the potential to effect vast and profound changes in human society.
A Second-Generation Cryptocurrency for After the Bitcoin Craze
This new cryptocurrency takes the Bitcoin model one step further because instead of just being labor-intensive and impossible to fake, it derives its value from an actual purpose.
Gold's underlying characteristics make it pretty and easy to shape into jewelry.
The underlying commodity behind this new cryptocurrency, on the other hand, is the biggest supercomputer known to man.
Essentially a crowd-sourced mega-processor, this machine will serve as the world's biggest network of privately owned central processing units.
Individual citizens will be able to lend the processing power of their devices to add to this "global, open sourced, decentralized supercomputer that anyone can access."
This computer will be open to use by anybody, for any purpose, from creating an image, to doing research, to running scientific models of extreme complexity.
With the computing power consisting of hundreds of millions of common machines, this "mega-processor" will exceed the power of any centralized supercomputer by orders of magnitude.
Own a Piece of the Greatest Computing Power in History
Nothing the NSA has, nothing the Chinese are working on, nothing Apple or Google might be spending billions to secretly develop in their covert labs will come close to this.
And again, it will be accessible to anybody — the exact trait that transformed the internet from a novelty into an industrial revolution.
That machine is where this new cryptocurrency finds its value.
Have you ever heard of anything so powerful? Because I sure haven't.
If that hasn't inspired you, perhaps this will: The market capitalization of this cryptocurrency is only in the hundred million dollars.
For the sake of comparison, that's just over 1/1,000 times the size of Bitcoin.
And as of today, units of this currency trade for less than $0.40.
Are you seeing the potential here? Because when I found out about this cryptocurrency, my immediate response was anxiety.
It was too big. Too important for it not to become a global icon. And if I didn't act fast, I was going to miss it.
Just think... 1/1,000 the market cap of Bitcoin, trading for less than a dollar, with the world's most powerful supercomputer as the foundation.
I had to learn more, so I spent weeks gathering the research.
The end result is this report, which I'm giving you exclusive access to right now.
It profiles this world-changing yet still largely unknown cryptocurrency, along with another early-stage digital coin that shows Bitcoin-magnitude growth potential.
If you missed out on Bitcoin, this could be your second chance. Click here for instant access.
Just one piece of advice: Don't wait too long. These digital currencies have grown by 60% in just the last couple weeks, which means the story is on the verge of the mainstream.
Fortune favors the bold,
Coming to us from an already impressive career as an independent trader and private investor, Alex's specialty is in the often misunderstood but highly profitable development-stage microcap sector. Focusing on young, aggressive, innovative biotech and technology firms from the U.S. and Canada, Alex has built a track record most Wall Street hedge funders would envy. Alex contributes his thoughts and insights regularly to Wealth Daily. To learn more about Alex, click here.
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