{"id":6417,"date":"2024-05-23T20:24:50","date_gmt":"2024-05-23T20:24:50","guid":{"rendered":"https:\/\/2024.globalinvestsummit.com\/?p=6417"},"modified":"2024-05-23T20:24:50","modified_gmt":"2024-05-23T20:24:50","slug":"bitcoiny-tokeny-coiny-kryptomeny-jak-se-v-tom-zorientovat-ma-smysl-do-nich-dlouhodobe-investovat","status":"publish","type":"post","link":"https:\/\/2024.globalinvestsummit.com\/cs\/bitcoiny-tokeny-coiny-kryptomeny-jak-se-v-tom-zorientovat-ma-smysl-do-nich-dlouhodobe-investovat\/","title":{"rendered":"Bitcoiny, tokeny, coiny, kryptom\u011bny jak se v tom zorientovat? M\u00e1 smysl do nich dlouhodob\u011b investovat?"},"content":{"rendered":"
\n\t
\n\t\t
\n\t\t\t

Rozhovor na t\u00e9ma kryptom\u011bny se spr\u00e1vcem investi\u010dn\u00edho fondu Dopamine Investments Ing. Romanem Panu\u0161kou ve kter\u00e9m se dozv\u00edte jak\u00fd je rozd\u00edl mezi jednotliv\u00fdmi kryptom\u011bnami a jak o nich uva\u017eovat z\u00a0pohledu dlouhodob\u00e9 investice.<\/strong><\/p>\n

 <\/p>\n

1. Co si m\u00e1 vlastn\u011b \u010dlov\u011bk p\u0159edstavit pod pojmem kryptom\u011bny?
\n<\/strong>J\u00e1 osobn\u011b pou\u017e\u00edv\u00e1m term\u00edn \u201ekryptom\u011bny\u201c nerad, v dne\u0161n\u00ed dob\u011b je u\u017e dost nep\u0159esn\u00fd. N\u00e1zev kdysi vznikl prim\u00e1rn\u011b jako ozna\u010den\u00ed kategorie ve\u0159ejn\u00fdch blockchain\u016f prvn\u00ed generace jako je Bitcoin a jeho obdoby, kter\u00e9 byly prim\u00e1rn\u011b navr\u017eeny jako digit\u00e1ln\u00ed pen\u00edze. <\/span><\/p>\n

Dnes u\u017e je celkem jasn\u00e9, \u017ee v t\u00e9to kategorii Bitcoin vyhr\u00e1l a nem\u00e1 zde \u017e\u00e1dn\u00e9ho srovnateln\u00e9ho konkurenta. Zbytek \u201ekryptom\u011bn\u201c jsou vlastn\u011b blockchainov\u00e9 s\u00edt\u011b podporuj\u00edc\u00ed smartkontrakty a tokeny, kter\u00e9 jsou na t\u011bchto s\u00edt\u00edch vytvo\u0159en\u00e9. <\/span><\/p>\n

Tyto tokeny vyu\u017e\u00edvaj\u00ed pro svoje pot\u0159eby nejr\u016fzn\u011bj\u0161\u00ed projekty nejr\u016fzn\u011bj\u0161\u00edmi zp\u016fsoby a jejich dr\u017eitel\u016fm v\u011bt\u0161inou poskytuj\u00ed n\u011bjak\u00e9 v\u00fdhody nebo rozhodovac\u00ed pravomoce v r\u00e1mci dan\u00e9ho projektu.
\nA\u017e na stablecoiny, co\u017e jsou tokeny, kter\u00e9 nemaj\u00ed pohyblivou cenu a jsou kryty n\u011bjakou jinou m\u011bnou nebo aktivem, se tedy prakticky nikdy nejedn\u00e1 o m\u011bny, proto je n\u00e1zev kryptom\u011bny vlastn\u011b velmi zav\u00e1d\u011bj\u00edc\u00ed. \u010clov\u011bk by si m\u011bl tedy pod pojmem kryptom\u011bny p\u0159edstavit r\u016fzn\u00e9 tokeny a digit\u00e1ln\u00ed aktiva nav\u00e1zan\u00e1 na blockchain, kter\u00e1 jsou z\u00e1rove\u0148 v t\u00e9to digit\u00e1ln\u00ed podobn\u011b obchodovateln\u00e1.<\/span>\u00a0<\/span><\/p>\n

2. \u0158\u00edk\u00e1te, \u017ee Bitcoin podle v\u00e1s nem\u00e1 u\u017e v dne\u0161n\u00ed \u017e\u00e1dn\u00e9ho srovnateln\u00e9ho konkurenta, co nap\u0159\u00edklad Ethereum a dal\u0161\u00ed?
\n<\/strong>Ano, nem\u00e1. Nap\u0159\u00edklad pr\u00e1v\u011b Ethereum nen\u00ed za m\u011b p\u0159\u00edm\u00fd konkurent Bitcoinu, je to vlastn\u011b principi\u00e1ln\u011b velmi odli\u0161n\u00e1 v\u011bc. Nebudu tady zab\u00edhat do technick\u00fdch detail\u016f, ale uvedu takovou jednoduchou paralelu. Bitcoin si m\u016f\u017eete nejsn\u00e1\u017e p\u0159edstavit jako digit\u00e1ln\u00ed zlato. Je to n\u011bco, co je vz\u00e1cn\u00e9 t\u00edm, \u017ee je toho omezen\u00fd po\u010det a nikdo nem\u016f\u017ee vytvo\u0159it nov\u00e9. Stejn\u011b tak Bitcoin. Jeho hlavn\u00ed v\u00fdhodou je jeho obrovsk\u00e1 decentralizace, nem\u011bnitelnost, stabilita a rozdistribuovanost. Je to uchovatel hodnoty, kter\u00fd v r\u00e1mci sv\u00e9 s\u00edt\u011b nem\u00e1 \u017e\u00e1dn\u00e9 dal\u0161\u00ed vyu\u017eit\u00ed, co\u017e je tak za m\u011b i spr\u00e1vn\u011b.
\nEthereum je blockchainov\u00e1 s\u00ed\u0165, v r\u00e1mci kter\u00e9 si m\u016f\u017ee kdokoliv vytvo\u0159it token, kter\u00e9mu d\u00e1 jak\u00e1koliv pravidla nebo omezen\u00ed. Ethereum m\u00e1 i sv\u016fj vlastn\u00ed nativn\u00ed coin ETH, kter\u00fd se pou\u017e\u00edv\u00e1 pr\u00e1v\u011b placen\u00ed poplatk\u016f v r\u00e1mci s\u00edt\u011b. Podobn\u00fdch blockchainov\u00fdch s\u00edt\u00ed je spousty, v posledn\u00ed dob\u011b je velmi popul\u00e1rn\u00ed nap\u0159\u00edklad Solana se sv\u00fdm nativn\u00edm coinem SOL. Za potencion\u00e1ln\u00ed konkurenty Bitcoinu tedy nem\u016f\u017eeme pova\u017eovat ani coiny t\u011bchto blockchainov\u00fdch s\u00edt\u00ed ani tokeny na nich vytvo\u0159en\u00e9. Konkurenti Bitcoinu mohou b\u00fdt tedy coiny, b\u011b\u017e\u00edc\u00ed na sv\u00e9m vlastn\u00edm blockchainu, vytvo\u0159en\u00e9 za \u00fa\u010delem toho, aby slou\u017eily pr\u00e1v\u011b jako kryptom\u011bny, co\u017e je nap\u0159\u00edklad Litecoin, DigiByte, Monero, Zcash a dal\u0161\u00ed. <\/span><\/p>\n

V sou\u010dasn\u00e9 dob\u011b v\u0161ak nevid\u00edm \u017e\u00e1dn\u00fd smysl vlastnit coiny z t\u00e9to kategorie. Jedinou v\u00fdjimkou m\u016f\u017ee b\u00fdt Dogecoin, jako obl\u00edben\u00fd spekulativn\u00ed asset nejen retailov\u00fdch obchodn\u00edk\u016f.<\/span>\u00a0<\/span><\/p>\n

3. N\u011bkde pou\u017e\u00edv\u00e1te pojem token a n\u011bkde coin, je v tom n\u011bjak\u00fd rozd\u00edl?
\n<\/strong>Up\u0159\u00edmn\u011b si vlastn\u011b te\u010f nejsem jist\u00fd jestli je pro to n\u011bjak\u00e1 p\u0159esn\u00e1 definice, ale je zvykem pojem coin pou\u017e\u00edvat pro digit\u00e1ln\u00ed aktiva, kter\u00e1 maj\u00ed vlastn\u00ed blockchain – Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH) a dal\u0161\u00ed. Tokeny zas pro digit\u00e1ln\u00ed aktiva, kter\u00e1 nemaj\u00ed sv\u016fj vlastn\u00ed blockchain a maj\u00ed sv\u016fj token vytvo\u0159en\u00fd v r\u00e1mci n\u011bjak\u00e9 blockchainov\u00e9 s\u00edt\u011b – Chainlink (LINK), Tether (USDT), Shiba Inu (SHIB) a dal\u0161\u00ed.<\/span><\/p>\n

4. Jak\u00e9 coiny a tokeny by nem\u011bly chyb\u011bt v dlouhodob\u00e9m investi\u010dn\u00edm kryptom\u011bnov\u00e9m portfoliu.<\/strong>
\n<\/span>S n\u011b\u010d\u00edm jako dlouhodob\u00fd investi\u010dn\u00ed horizont bych byl v r\u00e1mci digit\u00e1ln\u00edch aktiv tak\u00e9 velmi opatrn\u00fd. Tento trh je extr\u00e9mn\u011b dynamick\u00fd, st\u00e1le jsou zde nov\u00e9 a nov\u00e9 trendy. Kdybyste si v roce 2017 nebo i 2020 sestavili portfolio nejlep\u0161\u00edch vybran\u00fdch token\u016f a coin\u016f, bylo by te\u010f extr\u00e9mn\u011b zastaral\u00e9 a nedo\u010dkali byste se \u017e\u00e1dn\u00fdch velk\u00fdch v\u00fdnos\u016f a a\u010dkoliv m\u00e1m te\u010f velmi siln\u00e9 kandid\u00e1ty pro dal\u0161\u00ed r\u016fstov\u00e9 obdob\u00ed, stejn\u011b bych je na dlouhodob\u00fd investi\u010dn\u00ed horizont nemohl s klidn\u00fdm sv\u011bdom\u00edm doporu\u010dit. Pro vyu\u017eit\u00ed maxim\u00e1ln\u00edho potenci\u00e1lu tohoto trhu je pot\u0159eba aktivn\u00ed spr\u00e1va a pravideln\u00e9 rebalancov\u00e1n\u00ed portfolia. Je toho pot\u0159eba sledovat opravdu hodn\u011b a mysl\u00edm si, \u017ee pro v\u011bt\u0161inu jedinc\u016f to nen\u00ed v sil\u00e1ch stihnout a je lep\u0161\u00ed se obr\u00e1tit na n\u011bjak\u00fd kvalitn\u00ed investi\u010dn\u00ed fond. V\u00fdjimkou je Bitcoin, ten bych se dlouhodob\u011b dr\u017eet neb\u00e1l, co\u017e samoz\u0159ejm\u011b absolutn\u011b neznamen\u00e1, \u017ee u Bitcoinu dos\u00e1hnete nejv\u011bt\u0161\u00edch v\u00fdnos\u016f. Jen je to z m\u00e9ho pohledu nejjist\u011bj\u0161\u00ed s\u00e1zka.<\/span>\u00a0<\/span><\/p>\n

5. Pro\u010d pouze Bitcoin?<\/strong>
\n<\/span>Bitcoin je jedin\u00e9 digit\u00e1ln\u00ed aktivum, kter\u00e9 ve svoj\u00ed kategorii \u201ekryptom\u011bna\/uchovatel hodnoty\u201c opravdu vyhr\u00e1lo a nikdy ho nenahrad\u00ed \u017e\u00e1dn\u00e1 konkurence jako se tomu m\u016f\u017ee st\u00e1t u ostatn\u00edch coin\u016f a token\u016f, kdy na trhu st\u00e1le vznikaj\u00ed lep\u0161\u00ed a sofistikovan\u011bj\u0161\u00ed \u0159e\u0161en\u00ed. Nen\u00ed to Bitcoin vs konkurence, je to Bitcoin vs nic, \u017e\u00e1dnou konkurenci nem\u00e1. A\u010dkoliv je cel\u00fd trh s digit\u00e1ln\u00edmi aktivy velmi spekulativn\u00ed, m\u00e1 tendenci j\u00edt v\u017edy z extr\u00e9mn\u00ed p\u0159eprodanosti do extr\u00e9mn\u00ed p\u0159ekoupenosti a v syst\u00e9mu je v\u017edy spoustu p\u0159ep\u00e1kovan\u00fdch pozic, mysl\u00edm si, \u017ee u Bitcoinu by se tyto extr\u00e9mn\u00ed v\u00fdkyvy volatility mohly trochu zm\u00edrnit d\u00edky sou\u010dasn\u00e9 prob\u00edhaj\u00edc\u00ed institucion\u00e1ln\u00ed adopci. Bitcoinov\u00e9 ETF v posledn\u00edch dob\u011b nakoupila nap\u0159\u00edklad i nejv\u011bt\u0161\u00ed \u0161v\u00fdcarsk\u00e1 banka UBS, jedna z nejv\u011bt\u0161\u00edch kanadsk\u00fdch bank Bank of Montreal nebo americk\u00fd st\u00e1t Wisconsin. Nevid\u00edm d\u016fvod, pro\u010d by tento trend nem\u011bl pokra\u010dovat a p\u0159edstavte si jak obrovsk\u00fdmi prost\u0159edky disponuj\u00ed penzijn\u00ed a st\u00e1tn\u00ed investi\u010dn\u00ed fondy po cel\u00e9m sv\u011bt\u011b. Neum\u00edm si p\u0159edstavit, \u017ee se za t\u011bchto podm\u00ednek u Bitcoinu nedo\u010dk\u00e1me vy\u0161\u0161\u00edch cen ne\u017e sou\u010dasn\u00fdch.<\/span><\/p>\n

6.M\u016f\u017eete n\u00e1m na z\u00e1v\u011br d\u00e1t n\u011bjak\u00fd tip, kam by se mohla cena Bitcoinu dostat v budoucnu?
\n<\/strong>Z\u00e1le\u017e\u00ed oproti \u010demu. Oproti fiatu se mus\u00ed z\u00e1konit\u011b \u010dasem k nekone\u010dnu, proto\u017ee fiat je nekone\u010dn\u011b infla\u010dn\u00ed. Jestli se bav\u00edme o jeho kupn\u00ed s\u00edle, m\u016fj tip je, \u017ee v n\u00e1sleduj\u00edc\u00edch letech vzroste z d\u016fvod\u016f, kter\u00e9 jsem ji\u017e zm\u00ednil.<\/span><\/p>\n

Pozn. Fiat jsou pen\u00edze emitovan\u00e9 vl\u00e1dami, nejsou kryt\u00e9 \u017e\u00e1dnou fyzickou komoditou.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div>

<\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"Rozhovor na t\u00e9ma kryptom\u011bny se spr\u00e1vcem investi\u010dn\u00edho fondu Dopamine Investments Ing. Romanem Panu\u0161kou ve kter\u00e9m se dozv\u00edte jak\u00fd je rozd\u00edl mezi jednotliv\u00fdmi kryptom\u011bnami a jak o nich uva\u017eovat z\u00a0pohledu dlouhodob\u00e9 investice.   1. Co si m\u00e1 vlastn\u011b \u010dlov\u011bk p\u0159edstavit pod pojmem kryptom\u011bny? J\u00e1 osobn\u011b pou\u017e\u00edv\u00e1m term\u00edn \u201ekryptom\u011bny\u201c nerad, v dne\u0161n\u00ed dob\u011b je u\u017e dost nep\u0159esn\u00fd. [...]","protected":false},"author":1,"featured_media":6420,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":["post-6417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globalinvestsummit"],"_links":{"self":[{"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/posts\/6417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/comments?post=6417"}],"version-history":[{"count":2,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/posts\/6417\/revisions"}],"predecessor-version":[{"id":6419,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/posts\/6417\/revisions\/6419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/media\/6420"}],"wp:attachment":[{"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/media?parent=6417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/categories?post=6417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/2024.globalinvestsummit.com\/cs\/wp-json\/wp\/v2\/tags?post=6417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}