What are Cryptos

 

Wikipedia (https://en.wikipedia.org/wiki/Cryptocurrency) defines a cryptocurrency as follows:

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A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

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Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since the release of bitcoin, over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.

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In the mainstream media, cryptos (mostly bitcoin) are presented as nebulous and pure speculative objects. They mostly report during the cyclical bear markets and often take the associated discounts as proof that the cryptos is nothing but a bubble. These fears are completely unjustified, because a bubble is a single cycle with a strong rise and a just as strong descent. And that was it. The crypto market had not only one short cycle, but has existed for more than 10 years now, and there have already been four cycles during that time, with each cycle producing a tremendous overall development. Therefore one can not talk about a bubble in any way. The reason for this long-term and impressive development lies in the enormous potential of the cryptos to facilitate and improve much in the future. In the following colored fields some examples are listed (source: coinmarketcap.com)