CNBC reports Mark Cuban as saying, “I own a lot of Ethereum because I think it’s the closest to a true currency.”
The cryptocurrency portfolio of Mark Cuban per CNBC is: “60% bitcoin, 30% Ethereum and 10% the rest.”
He feels Ethereum is “adaptable over time” as developers can iterate and improve its capabilities. He has also stated, “That is more life-like, and so, I have a lot of Ethereum as well,” Cuban also stated, “I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency.”
He has also stated, “There’s none that I’m just all in on, other than Bitcoin and Ethereum that I look at as being an equivalent investment.” He stated, “There’s some I [buy] for fun, some I do for experience, because I just want to learn.”
For anyone who is new to Ethereum, it is often pointed to as the second most popular cryptocurrency, after Bitcoin. However, unlike Bitcoin and several other digital currencies Ethereum is intended to more than simply a medium of exchange or a store of value.
They call themselves a decentralized computing network that is on blockchain technology. Ether is used to buy and sell goods and services. There have been gains in price, which have made it to work like a speculative investment.
Ethereum Network can be used to build applications which “run” on the blockchain just like a software which “runs” on the OS of a computer. Each of these Dapps can store and transfer personal data and they can be programmed by protocol to handle complex financial transactions.
Since Ethereum can perform computations as part of the mining process, the computational capability establishes the store of value and medium of exchange into a decentralized global computing engine, which is also a openly verifiable data store.
The benefits of Ethereum Network is that it is a large existing network with wide range of functions. There is constant innovation happening on the chain. And, it works towards avoiding intermediaries.
For now, there are also disadvantages like rising transaction costs, potential for crypto inflation, steep learning curve for developers, and also that it has an unknown future. Those who are willing to buy Ether pick a cryptocurrency exchange, deposit fiat money, buy ether, and use a wallet to store it. Everyone who buys Ether have their own reasons for doing it. Given the high risk and volatility in this market, it is still considered by many for it to be a speculative asset, there are others who understand it as an evolving technology with huge potential for innovation and value.
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