Category Archives: Investing

Ripple (XRP) Coin Review


Image Caption: Before reading this review, please read our disclaimer at the bottom of the article or here. Also, we wrote a 5 minute summary on Ripple you can find here.

The Payment Network Token

Ripple just became the second largest Cryptocurrency by market cap at an astonishing $122 Billion dollars. aking Ripple’s co-founder, Chris Larsen, the 8th wealthiest man on earth as he holds the equivalent of about $55B USD (as of January 4th, 2018 at 16:00 hrs EST).

How did this happen? Why now? What’s Ripple? This article will answer those questions, and shed some light on both the positive, and negative aspects of the cryptocurrency, as well as the historical reasons that made this token jump from the 9th to the 2nd most valuable cryptocurrencies in a couple of hours. Even though this looks like an overnight success, this is a story 14 years in the making.

Note: The price of this currency increased by 10 times during the hours writing and editing this article. Woah. If you want to read our shorter, 5 minute summary of Ripple, click here.

Introduction

Ripple as a token has been in circulation since 2012. During this time ICOs were essentially non-existent so this will be the first time we do a review on a company that didn’t have an ICO, but a strategy that involved multiple partnerships, clients, and movement of tokens.

Ripple is trying to revolutionize payment systems through its platform. They described the current banking system as “slow, limited in transparency and expensive”. And therefore claim that it is also inadequate as a Global Payment System. Their idea is to reduce these barriers of entry to enable global payment to become a truly worldwide activity. And so RippleNet was born.

Talk is cheap, but Ripple has been able to deliver on their promises by partnering with some of the most successful investors in silicon valley, as well as multiple international banking institutions, regulators, and leaders in technology, such as Google and MIT.

RippleNet

RippleNet is the name given to the Global Payment System of Ripple. It creates a global network of banks in which people can send and receive payments through Ripple technology. They claim the system to have real-time messaging, clearing, and “gross settlement certainty” of transactions.

Gross Settlements is the name given to the transfer of funds or securities between two banks. Gross refers specifically to the ability to enable those transactions to happen one-by-one instead of sending them as a bulk, for example if banks sent all their transactions of one day at the end of each day.

The way it works is by forming partnerships between banks to have access to the RippleNet network. Once a participating bank is part of the network, users around the world can interact with that bank through their own local RippleNet-enabled Bank. Users refers to corporations, individuals, and other organizations looking to participate in banking activities.

The advisory team alone for RippleNet includes members of 6 different banks (and counting).


Image under caption: RippleNet Banking advisory members, from Page 14 of RippleNet Brochure (PDF)

Furthermore RippleNet has a series of products:

  1. xCurrent: Payment Processing
  2. xRapid: Source of liquidity
  3. xVia: Payment origination

xCurrent

Enables payment processing between banks. Their RippleNet paper describes it as:

“A standardized technology enabling the ability to message and settle transactions between banks with increased speed, transparency and efficiency.” — RippleNet Brochure, Page 9

xRapid

Banks need to hold foreign currencies in order to enable fast transactions (without constantly having to pair up transactions), otherwise known as “nostro accounts”. xRapid is a pool of funds that banks can have access to in order to transfer funds easily.

“Access to an on-demand liquidity pool of digital assets that eliminates the need to hold nostro accounts in destination currencies.” — RippleNet Brochure, Page 11

xVia

Finally, xVia is a global payment transaction system

“A web services layer providing corporates with the ability to securely originate real-time payments with rich data attachments.” — RippleNet Brochure, Page 13

Banking Clients

This is one of Ripple’s strongest value propositions. Anyone can come up with an idea, but execution is the real difficulty. As a two-sided market business, Ripple requires both Supply (Banks) and Demand (Users, Businesses). In order to succeed they need to get the Supply side first, and that’s exactly what they’ve done.

The list of banks that Ripple has as customers continues to grow, the current list is quite impressive, and it is one of the main reasons that the price of Ripple has been shooting as high as it is.


Image Caption: Ripple Customer Sample from Page 15 of RippleNet Brochure

History


Price of Ripple from January 2014 to January 4th, 2018. Price from CoinMarketCap.com found here.

Ripplepay

14 years ago, in 2004, before bitcoin was created, Ripplepay was a service created by Ryan Fugger to allow swapping of credit between trusting participants. Essentially if someone owed you $10, they could create an IOU worth $10 and if someone else trusted that person, you could then use that as IOU as $10 with that third party. This is also the way current banks operate and is one of the building blocks of the current financial system. This is a relatively simple concept and even cash notes are essentially IOUs just all issued by the same entity, i.e a bank/govt.

This is very different from bitcoin, which is a trustless cash system, where you don’t require trust between two transacting parties, but you do require some form of verification that the asset being traded (in this case bitcoin) cannot be double-spent. If you could double-spend the same bitcoin, it is essentially like counterfeiting banknotes and obviously that is a problem.

However, in the above a payment system described by ripple, you do need trust. If I owe Bob money, a third party, Alice does not need to trust Bob to believe that my debt is valid, she only needs to trust me. You can’t issue debt to someone who does not trust you. So, you need to set a trust line, or a credit limit, that defines to what extent you trust which participant. Trust lines can “ripple” through a network, allowing trading of IOUs with participants you may not know, but with whom you share trusted intermediaries. If Bob and Alice both trust me, Bob could pay Alice with an IOU that I issued to Bob.

Ripple on the Blockchain

After the introduction of bitcoin to the world, Ripple began development of a blockchain based payment network similar to their existing product, however instead of bitcoin’s proof-of-work ripple used something called global consensus to verify trust, which they explain in the whitepaper leads to faster transaction times and lesser transaction fees.

This implementation of global consensus was new, even though the problem it was solving is well established in computer science literature. The validation of trust through consensus is a problem known as the “Byzantium general problem” and there are a few protocols which generated a solution for the problem, one of which was ripple’s new global consensus protocol. Another company, Stellar implemented a very similar protocol and came under heat for it in 2014 when a serious bug resulted in transactions being unconfirmed forever, however Ripple vehemently denied that their protocol was the one to blame and that it was an incorrect implementation. However leading cryptologists currently do not agree on whether the protocol is sound or not.

The Idea

As explained in the history section Ripple started out as Ripplepay, a simple debt exchange platform which did not involve any counterparty risks however it required trust between the participants on the network. Thus if Bob trusted Alice and Alice trusted Charlie, the line of trust between Bob and Alice could “ripple” through to Charlie and thus allowed Bob’s debt/credit be passed on to Charlie and vice versa.

While there was no issue of double-spending with debt (the same person could issue the same debts to two different people and they would just owe two different people money.) However once Ripple started working on a blockchain based verification network. Now a simple problem of having a payment network without any counter-party risk now became a problem of having a system that does not only require trust amongst the network, but also a way to ensure that double spending does not happen (i.e XRP cannot be counterfeited). However how these two pieces fit together is quite complicated so we shall break it down into the following separate sections.

The Token

Ripple purports these settlement issues are caused by manual settlement done in order to translate one bank’s ledger system’s transactions into another bank’s ledger system. Ripple however introduces something called the interledger protocol which uses a new cryptocurrency (ripple [ XRP]) to settle accounts across two banks differing ledgers, allowing for much faster settlement times.

Ripple’s White Paper

Ripple submitted multiple documents and white papers. Some focused on the business development side, such as Ripple Solutions Guide (PDF), and the RippleNet Brochure (PDF). But the company also submitted technical white papers that go very deep into their technology, Consensus algorithm (PDF) , and the Interledger Protocol (PDF).

Consensus Algorithm

Ripple does not use bitcoin’s proof-of-work rather it uses a consensus protocol to validate transactions, this new consensus protocol is states in Ripple’s whitepaper for their consensus algorithm. The consensus algorithm was new and unproven when it was initially presented but since then Ripple has carried out several validations for the transactions. This together with the fact that they have partnered with many banks has shown that the consensus algorithm works well for validations of transactions. These validations ensure that there are no double-spends of XRP, however why this needs to be the currency is the real question.

Interledger Protocol

The interledger protocol is specified in Ripple’s whitepaper and is basically the way the ripple network allows for cross-currency remittances. In order to understand the interledger protocol, we need to explain how banks currently issue international remittances. They use different databases as ledgers to make sure that credit and debt assets are tallied in the local native currency. What Ripple does is it settles transactions across multiple ledgers by settling each separate ledger by using XRP as an intermediary currency.

Validators

In order to distribute the amount of control that the Ripple corporation exerts over the network, and more importantly, to enable the network to operate, even if Ripple fails as a company, a series of validators have been put in place.

Validators (Unique Node Lists) are organizations and/or individuals that can verify a transaction on the Ripple network, so they act as a semi centralized agency. Validators also make sure transactions are not “double spent” by agreeing in the order of transactions.

Amongst the current validators of the Ripple protocol there are:

  • MIT (Massachusetts Institute of Technology)
  • Microsoft
  • CGI (Canadian Global Information)
  • And many more

Unfortunately this list is not extensive, and there is a series of nodes and addresses that are not public. So there could be a risk of decentralization, due to the fact that we don’t know if Ripple investors, employees, or the board of directors is part of this elite validators.

Token Distribution

This is one of the most criticized aspects of the Ripple protocol. Ripple controls over 50% currently, and once all the XRP have been released into circulation, the ripple company will own exactly 50%.

Blockchain Test

The Blockchain test refers to the question of whether or not a company requires the use of the Blockchain in order to be successful. This test was a result of a lot of companies abusing the ICO hype in order to just add the word “Token” after their name. “The Token for X” model.

In principle Ripple needs the Blockchain as an improvement on current banking financial standards. The question is whether or not it was necessary for ripple to create their own cryptocurrency, and whether or not it was a good idea for them to do so in a semi-centralized way with obscure validators. Undoubtedly they could have used bitcoin or any other already pre-existing cryptocurrency to fulfill this role and the introduction of a native currency like XRP leads to a lot of questions as to why the extra currency is necessary.

Furthermore, hyperledger which is an open source protocol very similar to the interledger protocol provided by Ripple existed prior, so why Ripple chose not adopt that is a reasonable question. Ripple claims that it is hard to do the kinds of international remittances that it does through the hyperledger protocol due to lack of atomic book transactions, however hyperledger is currently working on exactly that problem, and thus it is an important point to note.

Ripple has also created solutions in order to easily transfer their token for others. In 2013 OpenCoin created the “Bitcoin Bridge”, which essentially allows users to transfer funds in any currency to a Bitcoin address. Essentially enabling anyone in the world to purchase items in exchange of Bitcoin, without having to own Bitcoin in the first place.

The Bridge is one of the most interesting aspects of the Blockchain test for Ripple. It shows a great use of the technology, and also something that almost only Ripple would be able to do, since their global partnerships with banks allow them to provide the multi-currency liquidity and network to provide those services.

Traction — Performance

Besides all the activities, products, partnerships, investors, and clients that Ripple has, it is also important to discuss how the token has been performing over the last years in order to demonstrate traction and the validity that people have given the token since its inception.

2013–2016

During this period of time, one of the main engines moving cryptocurrencies forward was the rise and rise of Bitcoin. In the period of August 2013 until December, Bitcoin increased in price from around $80 USD to over $1,000 USD. by March of 2014 the bubble burst, and the price of Bitcoin continued to decline until it reached less than $200 at the beginning of 2015.

For many, Ripple was “The Next Bitcoin” and while Bitcoin was at an all time high people saw the potential for Ripple to become the next best option. As Bitcoin prices crashed, people also lost hope on Ripple, so you can see a very similar price pattern for Ripple during the period of 2013–2015. However, during the all-time low of Bitcoin in 2015, many thought Ripple would replace Bitcoin to become the preferred worldwide cryptocurrency, so the price increased inversely to that of Bitcoin.


Ripple Price Graph from Coin Market’s Ripple found here.

Bitcoin Price Graph from Coin Market’s Bitcoin during the same period found here.

2017

This was by far the best year for the Cryptocurrency, and probably the reason you are reading the article now. 2017 became the most important year for investment in cryptocurrencies, so people started looking at the largest and most important ones in the market.


Graph from Coin Market’s Ripple found here.

For many Ripple was going to become the defacto banking cryptocurrency so a sort of self-fulfilling prophecy occurred. In the span of 12 months, the price off Ripple went from $0.006 USD (or about 0.6 cents) to over $3 for every token. This is an increase of about 50,000%. Of course, as the price kept increasing, people kept saying that the price would continue to do so, so more people invested in the currency, and the cycle continued.

Part of the reason the token has become so popular recently is social media. As ICOs are becoming more popular and people are investing more, the price of cheap altcoins is attracting a lot of people to invest in it.

One of the reasons that Ripple seems to be such a “cheap” token, is due to the massive volume of Ripple tokens that exists in production. Price is relative, and does not take into consideration a tokens total token volume. There are 100 billion tokens, so the price fluctuates much less than if there were 1 million tokens, in comparison there are 16 million Bitcoins, out of the total possible maximum of 21 million.

Lately, criticisms have stopped the price from continuing to rise, these criticisms include the centralized nature of the network, the amount of tokens that the team gave to themselves and partners, and technical decisions that put in question the need for Ripple in the first place.

Team

Team History

5 years before Satoshi Nakamoto’s famous original Bitcoin paper “Bitcoin: A Peer-to-Peer Electronic Cash System” there was Ripplepay (2004). The project was originally created by Ryan Fugge, a software developer from Vancouver.

The idea came from working at a stock trading exchange and development began 2004. A year later, Fugge had a working product that enabled consumers to be able to secure transactions over the internet, just 5 years after the internet boom.

6 years later, software developers Jed McCaleb, Arthur Britto, and David Schwartz development began to build their own digital currency system through a consensus algorithm. The following in year, in 2012, the new system was incorporated into the new company OpenCoin Inc. Fugge transitioned into helping with the creation of the credit network section of Ripple.

As OpenCoin continued to grow and develop Ripple, the team continued to acquire veterans from the finance, software, and venture capital markets. The team now is heavily stacked and connected to both cryptocurrencies and Fintech, which is one of the reasons that has justified their valuation and quick rise so far. Ripple was co-founded by Angel Investor Chris Larsen, and Software Programmer Jed McCaleb. Fugge left his role as a developer at Ripple, and is currently working ICO advisor. His websites mentions he doesn’t have intentions to take new projects related to health conditions (We won’t link his website, as we are sure he currently appreciates privacy).

On September of 2013 OpenCoin Inc. changed its name to Ripple Labs Inc. Which is currently the name for the company and main holder of Ripple, and with Chris Larsen as a CEO.

The Team

There are an estimated 2,000 billionaires in the world. Ripple as a company has created at least 3. We find that this is an important point to mention, since our criticism section talks about the distribution of the cryptocurrency amongst its founders, which could potentially created complicated incentives within the company.

Ripple’s CEO is Brad Garlinghouse, he’s worked at executive levels at AOL, Yahoo, SBC, and act as CEO of Hightail, and Dalpad Communications. Brad currently owns 6.3% of Ripple, making his net worth a considerable $9.5 billion dollars.

Chris Larsen is a Silicon Valley venture capitalist, he helped co-found Ripple, as well as multiple FinTech related companies such as E-Loan, OpenCoin, and Prosper Marketplace.

Jed McCaleb, is well known for creating largest Bitcoin exchange ever by volume of BTC, the now defunct Mt Gox (hacked after McCaleb sold the company to Mark Karpeles). Jed is now worth $20B from his Ripple’s token and is on the top 40 richest people on the world.

The Investors

Ripple has a series of renowned technical investors in silicon valley and worldwide, including

  • Google Ventures
  • Andreessen Horowitz
  • CME Ventures
  • Accenture
  • Santander

Needless to say the Board of Directors is equally as impressive, and extremely well connected in the financial and banking sectors.

How to Buy

As one of the largest tokens, Ripple is readily available in a multitude of exchanges. From their website, the exchanges that trade Ripple are:

Note: different exchanges have different authorization stages, so in some it may become much more difficult to obtain Ripple or other currencies to ultimately obtain Ripple.

Criticisms

Business Decision Criticisms

The amount of Ripple tokens that the cofounders have decided to reward themselves with has been heavily obfuscated by the company. Two of the founders are now billionaires, and one is the 10th wealthiest man in the world now. That money does not come from sales, but instead from the expectation that people have in how the cryptocurrency will behave.

In order to mitigate this situation, the founders decided to escrow a large portion of their funds. This way the money will be frozen until certain events trigger the smart contracts to pay the founders. Even with this, hacking incentives to unlock these smart contracts could create incredible greedy situations. Just think about this, what would you do if you knew you are technically the 8th wealthiest people on earth, how far would you go to protect that investment?

In May of 2015, the United States’ Financial Crimes Enforcement Network fined Ripple $700,000.

“Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers. XRP II later assumed Ripple Labs’ functions of selling virtual currency and acting as an MSB; however, like its parent company, XRP II willfully violated the BSA by failing to implement an effective AML program, and by failing to report suspicious activity related to several financial transactions.” — FinCEN fines Ripple, through an immediate release found here.

Technical Criticisms

As mentioned in the above explanation of how Ripple works, XRP merely acts as the intermediary currency between cross-border ledgers to settle assets for the various banks. Initially this started off as a very centralized version of their consensus protocol with only Ripple as a validator and every transaction was verified by them. However in an effort to decentralize the trust-validation of the currency, they have started to slowly add other validators to the network and begun to dismantle the validators that they control. However this does not mean that the control over the currency is decentralized! Since Ripple (the company) controls the majority of the XRP supply, the power of usage with the currency is very centralized in the company and they control the pricing by controlling the demand/supply market.

Conclusion

No matter what happens, Ripple will have a formidable story. It will either become one of the largest financial assets in the next decade, or it will have an incredible implosion and hundreds of millions of dollars will be lost to competitors, corruption, unsolved technological challenges, unused technologies, or a combination of all of these.

We are not sure what the future will be, but we will definitely be watching with excitement what happens in this space. We hope this review gives you enough information to start doing your own research in the token, and your own decisions.

Certainly one of the most interesting stories, and an incredible series of partners, clients, and team members.

For our previous ICO White Paper Review check:

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Ripple (XRP) Coin Review


Image Caption: Before reading this review, please read our disclaimer at the bottom of the article or here. Also, we wrote a 5 minute summary on Ripple you can find here.

The Payment Network Token

Ripple just became the second largest Cryptocurrency by market cap at an astonishing $122 Billion dollars. aking Ripple’s co-founder, Chris Larsen, the 8th wealthiest man on earth as he holds the equivalent of about $55B USD (as of January 4th, 2018 at 16:00 hrs EST).

How did this happen? Why now? What’s Ripple? This article will answer those questions, and shed some light on both the positive, and negative aspects of the cryptocurrency, as well as the historical reasons that made this token jump from the 9th to the 2nd most valuable cryptocurrencies in a couple of hours. Even though this looks like an overnight success, this is a story 14 years in the making.

Note: The price of this currency increased by 10 times during the hours writing and editing this article. Woah. If you want to read our shorter, 5 minute summary of Ripple, click here.

Introduction

Ripple as a token has been in circulation since 2012. During this time ICOs were essentially non-existent so this will be the first time we do a review on a company that didn’t have an ICO, but a strategy that involved multiple partnerships, clients, and movement of tokens.

Ripple is trying to revolutionize payment systems through its platform. They described the current banking system as “slow, limited in transparency and expensive”. And therefore claim that it is also inadequate as a Global Payment System. Their idea is to reduce these barriers of entry to enable global payment to become a truly worldwide activity. And so RippleNet was born.

Talk is cheap, but Ripple has been able to deliver on their promises by partnering with some of the most successful investors in silicon valley, as well as multiple international banking institutions, regulators, and leaders in technology, such as Google and MIT.

RippleNet

RippleNet is the name given to the Global Payment System of Ripple. It creates a global network of banks in which people can send and receive payments through Ripple technology. They claim the system to have real-time messaging, clearing, and “gross settlement certainty” of transactions.

Gross Settlements is the name given to the transfer of funds or securities between two banks. Gross refers specifically to the ability to enable those transactions to happen one-by-one instead of sending them as a bulk, for example if banks sent all their transactions of one day at the end of each day.

The way it works is by forming partnerships between banks to have access to the RippleNet network. Once a participating bank is part of the network, users around the world can interact with that bank through their own local RippleNet-enabled Bank. Users refers to corporations, individuals, and other organizations looking to participate in banking activities.

The advisory team alone for RippleNet includes members of 6 different banks (and counting).


Image under caption: RippleNet Banking advisory members, from Page 14 of RippleNet Brochure (PDF)

Furthermore RippleNet has a series of products:

  1. xCurrent: Payment Processing
  2. xRapid: Source of liquidity
  3. xVia: Payment origination

xCurrent

Enables payment processing between banks. Their RippleNet paper describes it as:

“A standardized technology enabling the ability to message and settle transactions between banks with increased speed, transparency and efficiency.” — RippleNet Brochure, Page 9

xRapid

Banks need to hold foreign currencies in order to enable fast transactions (without constantly having to pair up transactions), otherwise known as “nostro accounts”. xRapid is a pool of funds that banks can have access to in order to transfer funds easily.

“Access to an on-demand liquidity pool of digital assets that eliminates the need to hold nostro accounts in destination currencies.” — RippleNet Brochure, Page 11

xVia

Finally, xVia is a global payment transaction system

“A web services layer providing corporates with the ability to securely originate real-time payments with rich data attachments.” — RippleNet Brochure, Page 13

Banking Clients

This is one of Ripple’s strongest value propositions. Anyone can come up with an idea, but execution is the real difficulty. As a two-sided market business, Ripple requires both Supply (Banks) and Demand (Users, Businesses). In order to succeed they need to get the Supply side first, and that’s exactly what they’ve done.

The list of banks that Ripple has as customers continues to grow, the current list is quite impressive, and it is one of the main reasons that the price of Ripple has been shooting as high as it is.


Image Caption: Ripple Customer Sample from Page 15 of RippleNet Brochure

History


Price of Ripple from January 2014 to January 4th, 2018. Price from CoinMarketCap.com found here.

Ripplepay

14 years ago, in 2004, before bitcoin was created, Ripplepay was a service created by Ryan Fugger to allow swapping of credit between trusting participants. Essentially if someone owed you $10, they could create an IOU worth $10 and if someone else trusted that person, you could then use that as IOU as $10 with that third party. This is also the way current banks operate and is one of the building blocks of the current financial system. This is a relatively simple concept and even cash notes are essentially IOUs just all issued by the same entity, i.e a bank/govt.

This is very different from bitcoin, which is a trustless cash system, where you don’t require trust between two transacting parties, but you do require some form of verification that the asset being traded (in this case bitcoin) cannot be double-spent. If you could double-spend the same bitcoin, it is essentially like counterfeiting banknotes and obviously that is a problem.

However, in the above a payment system described by ripple, you do need trust. If I owe Bob money, a third party, Alice does not need to trust Bob to believe that my debt is valid, she only needs to trust me. You can’t issue debt to someone who does not trust you. So, you need to set a trust line, or a credit limit, that defines to what extent you trust which participant. Trust lines can “ripple” through a network, allowing trading of IOUs with participants you may not know, but with whom you share trusted intermediaries. If Bob and Alice both trust me, Bob could pay Alice with an IOU that I issued to Bob.

Ripple on the Blockchain

After the introduction of bitcoin to the world, Ripple began development of a blockchain based payment network similar to their existing product, however instead of bitcoin’s proof-of-work ripple used something called global consensus to verify trust, which they explain in the whitepaper leads to faster transaction times and lesser transaction fees.

This implementation of global consensus was new, even though the problem it was solving is well established in computer science literature. The validation of trust through consensus is a problem known as the “Byzantium general problem” and there are a few protocols which generated a solution for the problem, one of which was ripple’s new global consensus protocol. Another company, Stellar implemented a very similar protocol and came under heat for it in 2014 when a serious bug resulted in transactions being unconfirmed forever, however Ripple vehemently denied that their protocol was the one to blame and that it was an incorrect implementation. However leading cryptologists currently do not agree on whether the protocol is sound or not.

The Idea

As explained in the history section Ripple started out as Ripplepay, a simple debt exchange platform which did not involve any counterparty risks however it required trust between the participants on the network. Thus if Bob trusted Alice and Alice trusted Charlie, the line of trust between Bob and Alice could “ripple” through to Charlie and thus allowed Bob’s debt/credit be passed on to Charlie and vice versa.

While there was no issue of double-spending with debt (the same person could issue the same debts to two different people and they would just owe two different people money.) However once Ripple started working on a blockchain based verification network. Now a simple problem of having a payment network without any counter-party risk now became a problem of having a system that does not only require trust amongst the network, but also a way to ensure that double spending does not happen (i.e XRP cannot be counterfeited). However how these two pieces fit together is quite complicated so we shall break it down into the following separate sections.

The Token

Ripple purports these settlement issues are caused by manual settlement done in order to translate one bank’s ledger system’s transactions into another bank’s ledger system. Ripple however introduces something called the interledger protocol which uses a new cryptocurrency (ripple [ XRP]) to settle accounts across two banks differing ledgers, allowing for much faster settlement times.

Ripple’s White Paper

Ripple submitted multiple documents and white papers. Some focused on the business development side, such as Ripple Solutions Guide (PDF), and the RippleNet Brochure (PDF). But the company also submitted technical white papers that go very deep into their technology, Consensus algorithm (PDF) , and the Interledger Protocol (PDF).

Consensus Algorithm

Ripple does not use bitcoin’s proof-of-work rather it uses a consensus protocol to validate transactions, this new consensus protocol is states in Ripple’s whitepaper for their consensus algorithm. The consensus algorithm was new and unproven when it was initially presented but since then Ripple has carried out several validations for the transactions. This together with the fact that they have partnered with many banks has shown that the consensus algorithm works well for validations of transactions. These validations ensure that there are no double-spends of XRP, however why this needs to be the currency is the real question.

Interledger Protocol

The interledger protocol is specified in Ripple’s whitepaper and is basically the way the ripple network allows for cross-currency remittances. In order to understand the interledger protocol, we need to explain how banks currently issue international remittances. They use different databases as ledgers to make sure that credit and debt assets are tallied in the local native currency. What Ripple does is it settles transactions across multiple ledgers by settling each separate ledger by using XRP as an intermediary currency.

Validators

In order to distribute the amount of control that the Ripple corporation exerts over the network, and more importantly, to enable the network to operate, even if Ripple fails as a company, a series of validators have been put in place.

Validators (Unique Node Lists) are organizations and/or individuals that can verify a transaction on the Ripple network, so they act as a semi centralized agency. Validators also make sure transactions are not “double spent” by agreeing in the order of transactions.

Amongst the current validators of the Ripple protocol there are:

  • MIT (Massachusetts Institute of Technology)
  • Microsoft
  • CGI (Canadian Global Information)
  • And many more

Unfortunately this list is not extensive, and there is a series of nodes and addresses that are not public. So there could be a risk of decentralization, due to the fact that we don’t know if Ripple investors, employees, or the board of directors is part of this elite validators.

Token Distribution

This is one of the most criticized aspects of the Ripple protocol. Ripple controls over 50% currently, and once all the XRP have been released into circulation, the ripple company will own exactly 50%.

Blockchain Test

The Blockchain test refers to the question of whether or not a company requires the use of the Blockchain in order to be successful. This test was a result of a lot of companies abusing the ICO hype in order to just add the word “Token” after their name. “The Token for X” model.

In principle Ripple needs the Blockchain as an improvement on current banking financial standards. The question is whether or not it was necessary for ripple to create their own cryptocurrency, and whether or not it was a good idea for them to do so in a semi-centralized way with obscure validators. Undoubtedly they could have used bitcoin or any other already pre-existing cryptocurrency to fulfill this role and the introduction of a native currency like XRP leads to a lot of questions as to why the extra currency is necessary.

Furthermore, hyperledger which is an open source protocol very similar to the interledger protocol provided by Ripple existed prior, so why Ripple chose not adopt that is a reasonable question. Ripple claims that it is hard to do the kinds of international remittances that it does through the hyperledger protocol due to lack of atomic book transactions, however hyperledger is currently working on exactly that problem, and thus it is an important point to note.

Ripple has also created solutions in order to easily transfer their token for others. In 2013 OpenCoin created the “Bitcoin Bridge”, which essentially allows users to transfer funds in any currency to a Bitcoin address. Essentially enabling anyone in the world to purchase items in exchange of Bitcoin, without having to own Bitcoin in the first place.

The Bridge is one of the most interesting aspects of the Blockchain test for Ripple. It shows a great use of the technology, and also something that almost only Ripple would be able to do, since their global partnerships with banks allow them to provide the multi-currency liquidity and network to provide those services.

Traction — Performance

Besides all the activities, products, partnerships, investors, and clients that Ripple has, it is also important to discuss how the token has been performing over the last years in order to demonstrate traction and the validity that people have given the token since its inception.

2013–2016

During this period of time, one of the main engines moving cryptocurrencies forward was the rise and rise of Bitcoin. In the period of August 2013 until December, Bitcoin increased in price from around $80 USD to over $1,000 USD. by March of 2014 the bubble burst, and the price of Bitcoin continued to decline until it reached less than $200 at the beginning of 2015.

For many, Ripple was “The Next Bitcoin” and while Bitcoin was at an all time high people saw the potential for Ripple to become the next best option. As Bitcoin prices crashed, people also lost hope on Ripple, so you can see a very similar price pattern for Ripple during the period of 2013–2015. However, during the all-time low of Bitcoin in 2015, many thought Ripple would replace Bitcoin to become the preferred worldwide cryptocurrency, so the price increased inversely to that of Bitcoin.


Ripple Price Graph from Coin Market’s Ripple found here.

Bitcoin Price Graph from Coin Market’s Bitcoin during the same period found here.

2017

This was by far the best year for the Cryptocurrency, and probably the reason you are reading the article now. 2017 became the most important year for investment in cryptocurrencies, so people started looking at the largest and most important ones in the market.


Graph from Coin Market’s Ripple found here.

For many Ripple was going to become the defacto banking cryptocurrency so a sort of self-fulfilling prophecy occurred. In the span of 12 months, the price off Ripple went from $0.006 USD (or about 0.6 cents) to over $3 for every token. This is an increase of about 50,000%. Of course, as the price kept increasing, people kept saying that the price would continue to do so, so more people invested in the currency, and the cycle continued.

Part of the reason the token has become so popular recently is social media. As ICOs are becoming more popular and people are investing more, the price of cheap altcoins is attracting a lot of people to invest in it.

One of the reasons that Ripple seems to be such a “cheap” token, is due to the massive volume of Ripple tokens that exists in production. Price is relative, and does not take into consideration a tokens total token volume. There are 100 billion tokens, so the price fluctuates much less than if there were 1 million tokens, in comparison there are 16 million Bitcoins, out of the total possible maximum of 21 million.

Lately, criticisms have stopped the price from continuing to rise, these criticisms include the centralized nature of the network, the amount of tokens that the team gave to themselves and partners, and technical decisions that put in question the need for Ripple in the first place.

Team

Team History

5 years before Satoshi Nakamoto’s famous original Bitcoin paper “Bitcoin: A Peer-to-Peer Electronic Cash System” there was Ripplepay (2004). The project was originally created by Ryan Fugge, a software developer from Vancouver.

The idea came from working at a stock trading exchange and development began 2004. A year later, Fugge had a working product that enabled consumers to be able to secure transactions over the internet, just 5 years after the internet boom.

6 years later, software developers Jed McCaleb, Arthur Britto, and David Schwartz development began to build their own digital currency system through a consensus algorithm. The following in year, in 2012, the new system was incorporated into the new company OpenCoin Inc. Fugge transitioned into helping with the creation of the credit network section of Ripple.

As OpenCoin continued to grow and develop Ripple, the team continued to acquire veterans from the finance, software, and venture capital markets. The team now is heavily stacked and connected to both cryptocurrencies and Fintech, which is one of the reasons that has justified their valuation and quick rise so far. Ripple was co-founded by Angel Investor Chris Larsen, and Software Programmer Jed McCaleb. Fugge left his role as a developer at Ripple, and is currently working ICO advisor. His websites mentions he doesn’t have intentions to take new projects related to health conditions (We won’t link his website, as we are sure he currently appreciates privacy).

On September of 2013 OpenCoin Inc. changed its name to Ripple Labs Inc. Which is currently the name for the company and main holder of Ripple, and with Chris Larsen as a CEO.

The Team

There are an estimated 2,000 billionaires in the world. Ripple as a company has created at least 3. We find that this is an important point to mention, since our criticism section talks about the distribution of the cryptocurrency amongst its founders, which could potentially created complicated incentives within the company.

Ripple’s CEO is Brad Garlinghouse, he’s worked at executive levels at AOL, Yahoo, SBC, and act as CEO of Hightail, and Dalpad Communications. Brad currently owns 6.3% of Ripple, making his net worth a considerable $9.5 billion dollars.

Chris Larsen is a Silicon Valley venture capitalist, he helped co-found Ripple, as well as multiple FinTech related companies such as E-Loan, OpenCoin, and Prosper Marketplace.

Jed McCaleb, is well known for creating largest Bitcoin exchange ever by volume of BTC, the now defunct Mt Gox (hacked after McCaleb sold the company to Mark Karpeles). Jed is now worth $20B from his Ripple’s token and is on the top 40 richest people on the world.

The Investors

Ripple has a series of renowned technical investors in silicon valley and worldwide, including

  • Google Ventures
  • Andreessen Horowitz
  • CME Ventures
  • Accenture
  • Santander

Needless to say the Board of Directors is equally as impressive, and extremely well connected in the financial and banking sectors.

How to Buy

As one of the largest tokens, Ripple is readily available in a multitude of exchanges. From their website, the exchanges that trade Ripple are:

Note: different exchanges have different authorization stages, so in some it may become much more difficult to obtain Ripple or other currencies to ultimately obtain Ripple.

Criticisms

Business Decision Criticisms

The amount of Ripple tokens that the cofounders have decided to reward themselves with has been heavily obfuscated by the company. Two of the founders are now billionaires, and one is the 10th wealthiest man in the world now. That money does not come from sales, but instead from the expectation that people have in how the cryptocurrency will behave.

In order to mitigate this situation, the founders decided to escrow a large portion of their funds. This way the money will be frozen until certain events trigger the smart contracts to pay the founders. Even with this, hacking incentives to unlock these smart contracts could create incredible greedy situations. Just think about this, what would you do if you knew you are technically the 8th wealthiest people on earth, how far would you go to protect that investment?

In May of 2015, the United States’ Financial Crimes Enforcement Network fined Ripple $700,000.

“Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers. XRP II later assumed Ripple Labs’ functions of selling virtual currency and acting as an MSB; however, like its parent company, XRP II willfully violated the BSA by failing to implement an effective AML program, and by failing to report suspicious activity related to several financial transactions.” — FinCEN fines Ripple, through an immediate release found here.

Technical Criticisms

As mentioned in the above explanation of how Ripple works, XRP merely acts as the intermediary currency between cross-border ledgers to settle assets for the various banks. Initially this started off as a very centralized version of their consensus protocol with only Ripple as a validator and every transaction was verified by them. However in an effort to decentralize the trust-validation of the currency, they have started to slowly add other validators to the network and begun to dismantle the validators that they control. However this does not mean that the control over the currency is decentralized! Since Ripple (the company) controls the majority of the XRP supply, the power of usage with the currency is very centralized in the company and they control the pricing by controlling the demand/supply market.

Conclusion

No matter what happens, Ripple will have a formidable story. It will either become one of the largest financial assets in the next decade, or it will have an incredible implosion and hundreds of millions of dollars will be lost to competitors, corruption, unsolved technological challenges, unused technologies, or a combination of all of these.

We are not sure what the future will be, but we will definitely be watching with excitement what happens in this space. We hope this review gives you enough information to start doing your own research in the token, and your own decisions.

Certainly one of the most interesting stories, and an incredible series of partners, clients, and team members.

For our previous ICO White Paper Review check:

IOTA Coin Review

Want to stay up to date in ICOs?

Visit us at https://thebestoficos.com

Have an interesting story?

Write us at info@bestoficos.com

Disclaimer

This website and the information contained herein is not intended to be a source of investment, financial, technical, tax, or legal advice. This website cannot substitute for professional advice and independent factual verification. The ideas and strategies on this website should never be used without first assessing your own personal financial situation, and without consulting a financial professional. All content in this website is for informational purposes only, and is provided “as is”, with no guarantee of completeness,accuracy, timeliness or of the results obtained from the use of this website. This is just a stub, your access to and use of this website is conditioned upon your acceptance of and compliance with the Full Disclaimers. The Disclaimers apply to all visitors, users, and others who wish to access or use this website.

Envion — Mobile Crypto Miner Deploys to Lowest Cost Renewable Energy Markets

Envion has created the technology for the first truly mobile mining unit (MMU) that uses low-priced local energy to mine a broad spectrum of cryptocurrencies. By harvesting locally available clean energy right at the source, Envion can operate at a lower cost than competitors and at the same time reduce the CO2 footprint of the blockchain industry. Envion aims at decentralizing the highly-concentrated mining market and at bringing back control of the market to the users. Hence, profits generated by MMUs are 100% beneficial to token holders. Distribution of profit dividends will occur on a weekly basis: 75% of profits will be emitted, while 25% will be used to reinvest directly in MMUs, in order to guarantee exponentially growing profits to the envion community.

What is Envion?

Envion is a system built as a Mobile Mining Unit (MMU) which is able to tap electricity directly from source i.e hydro, wind, fossil power plant, solar as well as other power sources from any part of the globe. Envion has been constructed based on standard intermodal containers. It is so expertly constructed to require very little y way of usage for cooling. Envion simplifies crypto mining and makes it possible for a wide range of individuals to engage.

Vision

We believe that system innovation is imperative in order for cryptocurrencies to gain mass acceptance. We believe that future mining operations need to be decentralized to reduce their dependency on regulations from single governments, powerful individuals, and fossil or nuclear energy.

Future crypto-mining operations need to reduce the systemic risks that result from being bound to certain coins or mining pools. Thus, envion strives to hand the decisive power back to the crypto-community. It must be possible for individuals to take part in crypto-mining without tremendous investments in hardware and technology. Besides broad ownership of mining operations, envion strives to involve the community in making decisions about key mining decisions. We therefore strive to reduce the hurdles for larger audiences to take part in the crypto-community.

By offering anyone the ability to take part in securing the future of the blockchain technology, envion is laying the foundation for the future of crypto mining by designing highly mobile low-maintenance mining units and by offering our community the right to vote for mining locations and for coin choices.

GLOBAL ENERGY FRAMEWORK

THE CHALLENGE

The crypto mining business model is highly dependent on the energy supply. The price and availability of electric power are the two most important factors for mining companies.

On a macro level, the hunt for cheap energy has lead to a concentration of mining operations in countries with low socio-economic and environmental standards, and therefore cheap fossil electricity. As a negative consequences of this low-cost, “dirty” energy, the mining of cryptocurrencies significantly contributes to climate change. The concentration of mining operations in a few authoritarian countries meanwhile, undermines the distributed ledger system and increases the risk of manipulations.

On a micro level, miners have become vulnerable to energy price fluctuations and regulatory changes. The competitive advantage of many companies in this sector depends on the willingness of a handful of regimes to tolerate cryptocurrencies, keep energy prices low and maintain friendly regulations. That is, obviously, the business model of an industry in its early stages.

Next generation mining operations will be climate friendly, more resilient against local price fluctuations and regulatory changes, more profitable and more decentralized. Consequently envion’s technology-driven business model, which combines green energy sources with economic viability on a global scale, is part of this next generation.

DIGITAL ENERGY CONSUMPTION

The IT ecosystem is one of the largest consumers of electricity worldwide. It consumes about 1,500 TWh per year of electricity — enough to equal the power generated by Germany and Japan combined — or almost 10% of the electricity generated worldwide1. Within the sector, cloud computing alone accounts for 416 TWh2,3, roughly equivalent to the carbon footprint of the entire aviation industry, and it is growing fast: cloud computing doubles its energy consumption every four years. By 2020, it will grow to 1,400 TWh annually and could surpass China and the US, the world’s biggest electricity consumers, by 2030. Within the next decade, electricity might become a scarce resource, putting upward pressure on prices, if not globally then in certain places at certain times. The source of this bottleneck is the grid rather than power generation4. The fastest growing application in cloud computing is cryptocurrency mining. The amount of energy consumed by Bitcoin and Ethereum exploded within seven years from virtually zero in 2010 to 19.2 TWh in 2017 matching the energy produced by Iceland or Puerto Rico 5. The energy efficiency of ASICs and GPUs has risen quickly, but it has been outpaced by the increase in transactions and market cap. While this exponential growth provides excellent opportunities for miners to earn rewards, the power consumed by the information technology ecosystem also increases competition for energy. Only those with safe access to affordable electricity can put their chips to work.

Introducing the Future of Smart Decentralized Blockchain Infrastructure

Highly profitable, global crypto-mining-infrastructure — Hosted in mobile, modular CSC containers — Decentralized placement directly at the energy source.

Extremely
Mobile

We have engineered an extremely mobile mining solution, hosted in standardized CSC containers and ready for “plug-and-play” deployment at any energy source.

Accessing
Cheap Energy

The price collapse of solar panels has led to tumbling electricity prices at photovoltaic plants worldwide. Our mining units can monetize virtually free local overcapacities.

Remotely
Maintained

Our cutting edge mining-unit management platform connects all our units to one global, decentralized network using redundant 4G and satellite connections.

Patented
Cooling

More than 40 times more efficient than traditional data centers: Using a patented cooling system, we achieve unprecedented power efficiency.

Scalability is no issue for us.

Our mining-units are indefinitely scalable due to efficient, available, low-cost hardware. Our decentralized concept allows an unprecedented usage of small- to mid-sized power hubs.

We are the only global mining operation — not affected by issues like energy price spikes, hardware shortages, governmental issues or fixed, stationary locations. We fight centralization. We have access to the world’s lowest priced energy sources. We create access to the smallest free transformer/inverter stations on the planet.

Fixing Blockchain & Energy Industry Problems

The Blockchain Boom has just Begun

The exponential growth of blockchain-based applications has led to a similar explosion in the demand of mining infrastructure. Traditional mining competitors have to deal with numerous problems. Few of them apply to our mobile, decentral and scalable strategy!

Creating a Win-Win for Everyone

We create a win-win scenario for power plants: We pay power-plants (and other energy hubs) for letting us use their otherwise unused local overcapacities. Win-win for the blockchain: We provide stability by decentralizing mining activities again, letting the community fully participate in mining and making mining-operations immune to local regulations, governmental restrictions, energy price spikes and bringing peace of mind to the global blockchain infrastructure.

OUR APPROACH

The technology that envion has developed represents the next generation of data centers — modular, mobile, flexible, low-maintenance, data-driven and therefore designed for the challenges of the future.

Our flexibility strategy is based on three technologies:

  • Our decentralized Mobile Mining Units (MMUs) offer industry 4.0 automation with little maintenance, are completely modular and have a scalable design. They manage a variety of electricity sources and are able to adapt to different climate zones. Built in a 20ft standard intermodal container, they have a proprietary, highly efficient and failsafe cooling system, an intake of more than 100 KW (depending on configuration) and can turn energy into cryptocurrencies or alternative data applications (for details see The Mobile Mining Unit.
  • Our central hub or Unified Mining Cloud (UMC) manages the automated, decentralized operation of mobile mining units worldwide. It supports our Mobile Mining Units (MMUs) in finding the optimal mining strategy depending on the traded price of the cryptocurrency, mining difficulty, real-time energy price at location, hardware generation and many more factors. Besides data aggregation, control and optimization of MMUs, our UMC is also handling and supervising all service & maintenance operations throughout the envion network.
  • Our global Smart Energy Sourcing (SES) identifies and secures locations with low energy prices. It is a database that we develop in a continuous process in cooperation with one of the most renowned scientific institutions for renewable energies in Germany. It combines knowledge of price structures for industrial users, feed-in tariffs for renewables, discounts for on-site consumption, grid fees, taxes, levies and exemptions a proprietary, multidimensional system that helps us to identify the most efficient locations for processing data and mining cryptocurrencies.

Together, MMUs, UMC and SES build a complementary system: SES software helps us to identify the most efficient renewable energy sources around the globe, while the MMU technology allows us to direct computing power to exactly these spots in order to build a decentralized and robust system that turns geographical flexibility into global cost leadership.

The global cost leadership of envion relies on an exceptional data-based capability: with the help of SES we don’t just identify attractive energy environments by country. We zoom into the micro level to find the most efficient grid locations — directly at a transformer, a wind farm or a PV park. Furthermore, we know exactly whether the jurisdiction allows this on-site approach to avoid grid fees, levies and taxes on energy transportation. This surgical precision exploits the imbalances of the existing energy system.

UNIQUE SELLING PROPOSITION

Envion has developed a fully automatized (“industry 4.0”), mobile mining unit inside CSC-certified intermodal (sea) containers that can be shipped to any location around the world within days (most transport routes) or weeks (transport between continents).

Lowest price for energy on the market. Our mining units use low-priced green energy directly at the source — near the shore, in the desert or in other remote locations. This allows us to always strategically position our Mobile Minings Units (MMUs) in regions with a competitive supply of energy and provides us with leverage when negotiating with energy providers.

Maximum energy efficiency. Our mobility concept allows targeted placement of our mobile mining units at sites where thermal energy is required — for heating buildings, greenhouses or warehouses. This way, we “recycle” the energy used for mining. With this strategy, we achieve revolutionary, low electricity prices.

Cutting-edge cooling technology. We have designed, developed and tested a radically new, self-regulating cooling system specifically designed for the blockchain mining industry. This patent-pending cooling system achieves a best-in-class energy efficiency with a consumption of only ~1% of the system’s total energy consumption.

True scalability. Mass production & scalability has been deeply embedded into envion’s DNA from day one. Next to custom components developed by envion (e.g. circuit boards for management or cooling systems), our Mobile Mining Units use a wide range of standardized components that facilitate the mass production. Our investment in software is safeguarding our growth trajectory by providing the necessary means to operate a large fleet of MMUs. Through our network of partner firms, we have been able to secure a prioritized access to components such as GPUs in large quantities.

Risk mitigation by design. According to recent benchmarking studies, the centralization of hashing power in the hands of a few is a risk universally perceived as high by large- and small-scale miners9 . However since envion is able to “mine” a broad set of cryptocurrencies, our mobile mining units reduce this concentration of power, as well as the dependency on a single government (e.g. regulatory changes), single energy providers (e.g. energy shortages or rapid price increases) and single cryptocurrencies (e.g. crash of single cryptocurrency).

Supporting the smart grid. Our mobile mining units are designed and built to operate at remote locations (“industry 4.0”) near energy sources such as solar plants, wind turbines or hydropower plants. Our mobile mining units can be integrated into a smart grid and flexibly take the load off of energy grids.

The pivotal parameter for cryptomining is the electricity price, where rewards and the depreciation of hardware are similar for every market participant. For commercial miners, the cost of data center infrastructure is equally important. We at envion have addressed both of these cost drivers with our concept of Mobile Mining Units: it is a modular, simple, robust and highly cost-efficient framework for any data center operation with the flexibility and standardized size required for a global deployment strategy

Should You Invest?

EVN plans to return 75% of profit and re-invest 25% of profit with payments each week starting in January. As a new company there are no previous results to review. Forward looking statements from the company claim expected 161% profit first year with increasing revenue via re-invested profit. The old saying applies, if it sounds to good to be true it likely is.

Mining today and mining in January are drastically different things as difficulty on the Bitcoin and Ethereum blockchains are nearly guaranteed to be higher. No new mining equipment or GPUs have been announced with released prior to 1 January to replace the current benchmark Antminer S9s and Nvidia line of cards. The revenue today will not be the same as January.

Additional concerns abound. Mining equipment costs money. Trying to move MMUs around the globe is complicated and takes time. Transport time is not mining time. Buying equipment to keep it idle while moving MMUs around the globe increases time to ROI. Ask any miner today to give up 75% of his revenue and see if he can still ROI. They will laugh at the question.

ICO DETAILS

The EVN token is an ERC-20 standard-based Ethereum token. EVN tokens grant their holders the right to:

1. receive 100% of the earnings of our proprietary mining operation in two steps:

=> 75% payed out immediately

=> 25% reinvested to boost future payouts

2. receive 35% of envion‘s earnings from mining by third-party operations

3. voting and veto in important decisions of the company’s strategy

Tokens will be offered for 31 days, starting on December 15th, 2017 and ending on January 14th, 2018.

EVN ICO is conducted by envion — the first mobile — mining solution in the world — targeting energy at its very source. The offering will be open to the global public. Restrictions apply for residents of Germany and US-based investors.

Token Issue Volume max. 150 millions tokens not distributed shall not be generated

Token Price at Issue : 1 USD

Team Envion

Advisors

Details Information :

Website : https://www.envion.org

Whitepaper : https://www.envion.org/en/download/envion_whitepaper.pdf

Twitter : https://twitter.com/Envion_org

Facebook : https://www.facebook.com/envion.org

Telegram : https://t.me/Envion

My Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1299271

Cardano Lists ADA Futures on BitMEX

Starting on Monday, January 8, 2018, at 8:00 a.m. GMT, the ADA token from Cardano began to be listed on the futures exchange at BitMEX.

This makes BitMEX the fifth exchange to list the ADA token since Bittrex did so in October 2017, followed by Upbit, Binance and Coinnest.

Cardano, a project of IOHK, was designed by leading experts in academics and cryptography over the last couple years and draws from various features of existing cryptocurrencies such as Bitcoin, Ripple and Ethereum, but uses a proof-of-stake/security model as opposed to proof of work.

Charles Hoskinson, CEO of IOHK, said: “As markets evolve, there is an increasing need for liquidity and more sophisticated trading strategies. I’m glad to see BitMEX list ADA and hope this continues to aid our march towards becoming the financial stack for the developing world.”

Cardano is a full blockchain, built from scratch in the functional programming language Haskell. At the heart of Cardano lies Ouroboros, a proof-of-stake consensus algorithm. Ouroboros comes with a mathematical proof of security that has undergone a rigorous peer review, resulting in its acceptance and presentation at the major cryptography conference Crypto 2017.

News broke last week that GRNET, the national research and education network of Greece, is working on a pilot project to verify student diplomas on Cardano, signifying a first official use case for the Cardano blockchain.

The chairman of the Cardano Foundation, Michael Parsons, said: “This new listing is indicative of Cardano becoming a truly global blockchain platform. We are excited to see Cardano list with BitMEX. Adoption of ADA by new trading platforms is reflective of the bright future that Cardano has as a leading blockchain platform.”

The BitMEX listing of ADA is a form of fixed-date contract that allows traders to speculate on the changing value of the ADA/XBT exchange rate with a leverage of up to 20 times. It is not required for traders to have ADA to trade the contract; it only requires bitcoin as a margin. Full details are available on the BitMEX site here.

Referrals have been paid !Where are Dmitrij & Tim flying to?

Dear Community,

We have just completed paying out referrals from our ICO. Please check your wallets for any referral earnings that you may have earned from December 24th through December 31st.
You can also find out the amount that you should have been paid by viewing this report. Please be advised if you do not see your earnings on this report and were not paid out to your wallet, your contributor likely did not use your referral link, or they may not have properly registered.
Thank you to everyone who participated in making our ICO an amazing success by spreading the word of Covesting! We paid out over 180ETH to our community. Bounty payments will follow shortly after.

Where are Dmitrij & Tim off to?

Recently, we have heard a lot of interesting dialogue regarding exchanges. While we already are tradeable on Etherdelta, and HitBTC is confirmed for January 20th, we are going to be meeting with key industry players to continue our effort of getting Covesting listed on other large exchanges.
So where are we off to you ask?
Dmitrij and Tim are going to Hong Kong for the Finwise International Blockchain summit!

We will be meeting with several of our partners, exchanges, and some important members of the blockchain community to discuss further partnerships and business development ideas. If you would like to see more information regarding the summit, which has over 60 projects, and 3,000 guests in the blockchain industry attending, please visit https://www.finwisesummit.com/index-en.html.

Do you have any business ideas or contacts in Hong Kong? If you have any connections or general business ideas that you feel may be of interest to our team, please submit them to info@covesting.io.

Stay tuned!
Yours, Covesting.

Answering all cryptocurrency newbie questions

Trying to get the grip on that whole crypto thing? Not sure when to buy/sell or how to spot the next potential big gainer? There is a set of questions that every new person in crypto asks so for the sake of your learning curve and my limited time I’ve decided to answer of all them in this small paper.

Before we begin — the following article presents my ways of trading and may differ from what other traders are doing. This is not financial advice — I’m just showcasing methods that work for me, so as always DYOR and don’t follow blindly a dude pretending to be a monkey on twitter.

The article is divided by specific questions. If you are not interested in a certain topic just jump into the next one. In the end I will present some general tips and recommend certain traders to follow. Let’s begin!

“When should I buy?”

The following question will be answered from the TA perspective, so it assumes you know at least some of the basics. To understand how to get good entries outside of TA or how to start learning it — stay withing the article, I’m talking about it in latter parts.

Buying in crypto for me has 2 perspectives. The first one is based on market cycles. You probably recognize this one:

When you look at the altcoin’s weekly or daily candles you will see a very similar pattern going on for most of them in 2017. A steady, sometimes rapid pump followed by a long-lasting downtrend and an accumulation zone going into another cycle. Good recent example of that is $LBC:


Looks familiar?

The main goal in a year-long perspective is to accumulate around bottoms before the real altcoin cycles begin and get the profits once they reach their tops. The second part of the year usually goes by swing trades and new projects (that’s also where the ICOs did have their prime time this year).

The second perspective is when do we buy the coins before and inside of that cycle. A perfect set-up can have different meaning for everyone, as it depends on the time-frame and expected gains. When I am talking about a good entry I usually mean:

  • Support line inside a common pattern
  • Previous accumulation zone after completing the cycle, with a confirmation of a bottom
  • Breakout point or pullback on previous resistance

The following $ETC chart shows a lot of that here. Currently sitting on a support line inside a symmetrical triangle, very close to the all-time resistance line and is at the levels of accumulation zone from April. All that after double bottom trend reversal with high volume and bullish indicators. A very tasty bite.

On a smaller time frame we got A&E bottom that appeared on most of the alts during the previous month. Those bottoms may always look differently (triple bottom as you will see below with $POSW) so look for other indicators such as growing volume or HHHL (higher highs, higher lows) to confirm stronger reversal and start of the uptrend. This is basically the position you would like to place your bets on for the upcoming rallies.

With $POSW we got multiple support retests and a long-term resistance trend line break through. That usually means a start of an accumulation zone where the price stays stable and smart money (future you) is accumulating for the upcoming rallies. When you look at the area before the spike — it returned to the same levels, showcasing once again how the cycles work. This one was especially bullish as $BTC was still going for its ATH.

Not every chart is the same of course, so it’s always important to zoom out and look for similar patterns. Some cycles might be sped-up some may go slower but one of the main rules of TA is that history repeats itself. Example below — $DOT with its 3x spikes, currently on the move for its possibly 3rd attempt at that pattern.


Take a look how BBands got really squeezed each time before big movements

For the shorter term entries, like in the example below — after the spike — I am always waiting for a pullback. Entering during a green dildo will not only give me a bad spot to set-up my stop-losses but also puts me in a direct risk of getting underwater with the buy before I evaluate my position. For entering inside a pullback I am using Fibs measured from the bottom to the top of the pump. The golden ratio that I am always looking at is 0.618 as seen in the examples below with $XEM and $ENG. Both of them went on pretty crazy runs afterwards, meaning that was the local bottom of a very strong uptrend.

Another thing I am looking for in entries are retests of previous resistances. Usually after a strong breakout confirmed by a good volume the price comes back to retest a long-term trend line in order to bounce off of it. That’s a very bullish sign usually confirming start of the new uptrend, especially if it’s done on a bigger time frames. Recent examples — $VIA and $BCH.

There are of course dozens of other indicators that traders are using to pick up good entries such as Ichimoku cloud’s and EMA’s crosses but those topics are too broad to talk about them here. During the next parts of this article you will be presented with good TA materials to study so that you can find techniques that work best for you.

“When should I sell?”

Selling depends highly on your style of trading — are you a day trader or an investor? You want some quick profits from the swings or you prefer holding the coins for maximum profit? The answer to both cases is actually pretty similar. Keep in mind that the following analysis is assuming that you know some of the TA basics — more info on how to start is available in the next parts of this article.

General rule — I pick my exit points accordingly to previous key levels (local ATH, trendlines, strong supports etc) and fib levels. I usually confirm the sell by analyzing RSI. Most of the time I hold the majority of the bag outside of my initial investment until I see a potential reversal signs, while taking some profits along the way.

Finding an exit point in short-term is very similar to finding it long-term. The main difference is basically time frames that are being used. For very quick trades the best way to find a profitable swing is recognizing patterns such as ascending triangles, bull flags etc. Those are quick consolidation levels in a clear uptrend which have very predictable outcome levels. $LINK as the example below had a textbook triangle going on after a bigger spike.

For more general exit points I’m always looking at the bigger picture. Where is the next bigger resistance line (previous support turns into current resistance) or the next fib level. Keep in mind that it all should be in a clear uptrend, being bullish in an obvious downtrend is almost like an illness — don’t allow yourself to become a bulltard.

Keep in mind that the road to the target is never that easy. There will be dozens of other small patterns in between which give more short-term opportunities. Take a look at the $NEO chart — the first target was the previous support and second one was the biggest resistance available, connected to the 1 fib level from the ATH. Simply holding will get you to the target but there were a lot of pullbacks and smaller flags along the way.

There are also cases of absolute tops after a parabolic movements like recent $XVG run. At those times more than TA I prefer to go with the market sentiment. During final pushes I’ve seen articles claiming that verge is going to be the next bitcoin and that’s outside of overall euphoria. The old golden rule fits perfectly here — buy the FUD, sell the greed. And God damn verge shillers got no shame when it comes to buying a coin which did x2000 $BTC-wise in less than a year.


Goodbye old friend, you will not be missed

“How do I start with TA?”

Here is the list of things that I think are more than enough to start learning TA:

Technical Analysis of the Financial Markets by John J. Murphy

https://www.babypips.com/

https://www.youtube.com/user/carpenoctom

And that’s literally it. Everything that you need to know can be taken out of those 3 sources. Once you get the basics you can start looking for some individual indicator tutorials on YouTube. Of course this is only theory — to really start using TA you need to create your own charts from the first moment you grab that book/website. Try experimenting with different indicators, draw some scenarios and come back to see if they work. Learn from other traders and see what works for them, because everybody got a different recipe for a good TA. Those are the twitter traders that I recommend, make sure to check them out:

@MPovolotski @cryptowilson @cryptocred @crypto_loot @cryptoWalk3r @Crypto_Ed_NL @CryptoTutor @VentureCoinist @Beetcoin @crypto_rand @galaxybtc @CarpeNoctom @CRYPTOBANGer @anambroid @Anbessa100

Not much more to it than this. You have to put a lot of work in. Even if you do not want to chart yourself, you should get the basics to recognize and analyze work of other people. Small tip from myself — simple TA = better TA. Don’t over complicate it. I tend to only use trend lines and RSI, sometimes Ichimoku, BBands and EMAs.

“What do you think about coin X?”

The most common question of them all. When you are asking about a certain coin you should realize that me or every other trader must do the same work as you would if you did a research on it. Check the recent price action, use cases, team, roadmap — everything. Even if you do not know the technology and TA that well — this is the way to finally learn it.

Speaking from the experience — my real gains started when I was finally able to find those undervalued coins by myself, before anybody started talking about them. That’s how I found $POWR in pre-ico and that’s how I did 30x on $XRB, 25x on $BCO and x15 on $XBY only recently. If you are serious about staying in this space for long time then doing your own research and trusting it is the first step you should take. Unless you want to end up like this guy (legit questions that I receive daily):

Understand that getting a confirmation that a coin is good from your favorite trader doesn’t change anything about it. Even if somebody tells you it is great you still should be aware of its specifics, tech and people behind it. So cut the umbilical cord and start doing some research.

“Which coins should I invest in?”

The ones that you think are going to grow from the moment you put your money in, till the moment you take it out.

Depending on your preference — as always — in the short term you could be looking at the coins that are having a pretty big release coming up (to look them up use http://coinmarketcal.com/). There is usually some FOMO leading to the event but remember that news are always already priced-in in some way — don’t take that growth for granted. For every other occasion you should be looking for coins that:

  1. Have good fundamentals (use cases, good team, low supply, USP)
  2. Have good looking charts (yet unpumped, not in a clear downtrend, during a pullback after a breakout)
  3. Are yet undiscovered by bigger audience (use $tags on twitter to see how many people are talking about them)

If you don’t have the time/don’t want (sigh…) to do your own research there are a lot of free/paid groups out there providing these kind of calls. If you are willing to put your money into somebody else’s pick — I can’t blame you, if the person knows its stuff then it might be highly profitable. It gets trickier when the pick doesn’t work and the only person who lost on the bet is you.


A must-have tool in your crypto-research toolkit

I’m going to go on a small rant here to actually answer that one. Being spoon-fed is the cancer of crypto. You should understand that there is a lot more to trading than just taking/buying the signals from successful traders. You should know what % of portfolio should go into each coin, how long do you want to hold it, how to set stop-losses on it, at what level should you take some profits from it or how to act when the market suddenly crashes. Every trader has a different strategy and risk tolerance. Nobody takes responsibility for a loss besides you so if you are going to invest your money in a coin be aware of all the other elements of trading before relying completely on some random twitter people (including me). It’s all fun and games when you make money in the bull market — not so much when the pumps stop and you are left with sustaining the profit by yourself.

The truth is most of the people having paid groups now (or even free call channels) were just like you few months ago. The difference is that they put in the work to learn the game and become self sustainable. Basically most of the calls from the groups could be found either for free or by research, but that would require time and learning from people who don’t want to do. If you have to join — join one that is teaching TA/FA. Nothing actually wrong in that — if there is a demand why not take advantage of it? Same goes the other way, as the groups can be really profitable for users if they really don’t have enough time to do research by themselves. But let’s be real, I’ve read way too many messages begging for tips to know how majority of this works.

Just don’t be like this guy. Not asking for an advice on what to buy should go in pair with putting in work on your own.

And if you do use other’s hard work — at least appreciate it, say thanks and maybe even throw a tip in there after a good trade. No wonder a lot of bigger traders are hesitant to help the newbies if all they do is demand.

“What should I do with my alts when BTC is running?”

For the last few months people are consistently dumping alts when $BTC moons. At our current position (with alts starting their new uptrends and are generally bullish) I don’t mind holding through the dips. I treat that as a healthy correction before running even higher.

If you are a day trader though, that’s a different story. It would be more logical to sell before all the dumps but the margin of error is small here. If you are not an experienced trader it’s actually pretty hard to get the timing right and more often than not it ends in something like this:


You would be surprised how many people do that

It all comes down to your individual preferences. Sticking to your strategy is essential here, panicking is what will always get you rekt. First recent “blood” actually took my portfolio to 15% more gains, while other traders sold and increased their positions so there is no golden rule. The second one got me pretty rekt but still in great profits. Be aware however that the correlation might change in the future and we could see alts and $BTC mooning together. Best solution in between would be having some tight stop-losses on profits with signals but until we are that early into this altcoins cycle I’m not ready yet to sell any of my good entries.

“Should I continue to hold?”

What was your entry? Are you confident in the project? Did you enter for a swing trade or is it a long-term trade for you? There is too many individual questions to answer that one with a yes/no. Nobody can pull the trigger for you so before going into the trade try deciding on what kind of trade it is.

If you have a good entry level and believe in the project’s potential — hold for bigger gains, selling small amounts along the way.

If you are not sure about the project’s direction and your position right now is shaky — set up some tight stop-losses. If it manages to run you will get some additional profit. If not — you always get some spare $BTC to buy the dip or move on to the next project.

Once again it all comes down to one thing — doing your own research and knowing when do you want to realize profits from that specific trade.

One more thing, essential one — $HODL is one of the worst advices I’ve heard in this space. You never want to be underwater with your bag when it’s clear that it is beginning its downtrend.

Cut your losers quickly, let your winners run — holding makes sense when are in a very undervalued, under the radar gem. That’s how you maximize profits. You wait till it reaches more people, gaining volume and value up from your very low entry. Holding doesn’t make sense when you are going down from a huge pump or the market is crashing with at best a chance to get even. Even if one day it recovers to the previous levels, you are missing out on a ton of trades that could’ve been done during the time of your holding.

“How do I find a new gem?”

Let’s make something clear from the start — finding a new, undervalued projects takes A LOT of time and effort. No other way around it. Since I’ve got 2 very good articles below this answer, I will only tell my quick ways how I am digging up new gems:

  • Coinmarketcap

Open up https://coinmarketcap.com/ and dig. Go to the Recently Added page and research every new coin daily. Go below top 400 and check. literally. every. coin. All the traders that find those gems on twitter are doing just that — spending long hours on studying coins that 99% of other people never heard of. Look if there is some recent volume appearing on them, if the project itself is legit and if there is anything coming up development-wise. It usually takes few good shills to get the under the radar gem flying across the twitter.


Check the new coins daily — it usually takes some time before people realize their existance
  • Twitter big profiles

Recently there are more and more traders who ask for people’s bags. Take advantage of that and research every thread like this for the $tags that you never heard before. People with early entries like to promote their coins to the bigger profiles in hope of having them recognized.

  • Bitcointalk / New ANNs

Open up https://bitcointalk.org/ and go through the threads and all the newly added ANNs. You got here tons of shilling and basically every new project before it even hits CoinMarketCap. If you really want to be early in a project and watch it gain traction — that’s the way to do it. I would say that 90% of content there is not even readable because of all the trolling and pure stupidity, but hey — that’s crypto. Also check out ANN bot on twitter if you want to only focus on the new threads the second they appear on the forum.

Now take a look at these 2 articles by @daytradernik and @crypto_rand. Very insightful stuff from 2 of the most successful traders out there.

“Which coin is the next 100x?”

The one that you get when it’s not known yet and you hold it long enough to see these kind of gains. Sometimes it takes a month ($XRB), sometimes it takes years. Patience is the key to success here. Don’t FOMO into other coins if you want to catch those X’s


It often takes time to recognize good technology

“Is it too late to enter now?”

One of my main rules that I live by in crypto is to never chase the pump. If I miss a good entry on a coin I go to a different occasion as there are dozens of them daily. I understand that going into a coin that is pumping might be temping because of the quick gains but it’s actually the opposite of it. The point here is to get an entry before the coin gets recognition, not in the middle of the growth. Going after a green dildo because of FOMO or whatever other reason is connected to a lot of risk outside of having a very bad entry, which has bigger consequences than just smaller gains (vulnerable for volatility, no way of setting normal stop-losses).

There is a reason why all the good traders are trying to buy the dips for the few weeks before altcoin cycle starts and not after they’ve already launched. So is it too late to enter now? Most of the times you are asking this— yes. Wait for the pullback if you want to enter. Especially if you really like the project for long-term and this might be the last chance to catch it at lower levels (after a big announcement). You got at least few new coins added daily and dozens of them shilled by twitter every hour. You got ICOs, new announcements for older coins, rumored partnerships and hundreds of other events basically everyday.

And you are going to leave your X00% potential position for a 30% pump?

“How much should I sell after my coin pumps?”

That’s a very individual case. I like to sell my initial investment after I feel the first initial pump is done. It may mean going 50/100/200 or even 1000%, it all depends on a project. It is preferable to sell some amounts, even small ones, along the way to always have some spare $BTC to buy the dips.

Also — don’t be afraid to sell most of the coins when the time is right — there is a reason why so many people are making fun of $DGB bagholders. Consider leaving some of the coins for some future pumps though — it eases your mind that you are not missing out when it pumps again. I usually leave around 10% of my total bag.

“How do I manage my risk better?”

When I say that there is much more to trading then just buying low, selling high I usually mean risk management. It’s very easy to ride the pumps but very hard to keep the profits when the market goes into the downtrend. I could divide risk management into 2 main parts:

  1. Keeping your coins safe. That means not using exchanges as your wallet, always having 2FA on, never sharing your private keys, using hardware wallet etc. There is a person much better oriented in that then me and basically anybody else on the planet so I will let @notsofast talk here:

https://steemit.com/bitcoin/@notsofast/4-ways-to-secure-your-bags-bitcoin-altcoins-cryptoasset-tokens-whatever-a-notsofast-security-primer

2. Second part is managing your risks while trading. Those rules may differ for every trader but I will say what works for me and keeps me sane at all times:

  • Always have some free $BTC lying around. This allows you to buy the dips, enter sudden occasions and is generally healthy for the portfolio’s growth as the whole market trades in $BTC pairs and all alts usually dip at once during $BTC rallies.
  • Diversify your portfolio. You never want to be stuck with all your money in 1 or 2 project (unless it’s $BTC or $ETH). Having bigger amount of coins lowers your overall risk and no coin in crypto is a sure-fire bet to never suddenly crash. A good example by @needacoin — while having 10 bags you only need 1 of them to go 10x to be even when every other trade literally goes to 0. One or two winners can cover-up for overall terrible day for all your other positions. Of course try not to over-diversify —lowering your risk also lowers your profitability. You are here to make money, not to catch all the pumps with 5$ bills.
  • Always set-up stop-losses. People that say they never work and trigger all the time making them lose money usually are the people who enter in terrible spots. The point of stop-losses is to put them below important support lines, so that when they trigger you can be sure the downfall will be even stronger than the level your order got filled. Setting a 10% stop-loss after entering the middle of a green candle makes as much sense as the recent $ADA growth. There is no point in staying underwater with your bag if you can buy it back lower or enjoy the ride with $BTC while it destroys other alts. Just remember to set the alarms when the target is hit.
  • Don’t put the majority of your portfolio in very low caps. This one if for the people who want to have a steady growth and not gamble with 90% of their stash on shitcoins. The smaller a coin is the more volatile it is. I am trying usually to put a very low % of my portfolio in lower-cap and let it become a bigger position with time due to its growth. Shitcoins are vulnerable to manipulation and often have problems with liquidity so try allocating your $BTC accordingly to the level of risk a coin represents.
  • Take profits on the way up. That’s a healthy way of increasing your $BTC amount and it gives you more flexibility on the next moves. It would also hurt less if you don’t manage to sell the coins at the top, which doesn’t happen a lot anyway.

General tips

Learn the game. Like really, don’t be lazy and start studying the space. No success will come for you in the long-term unless you learn TA and FA by yourself.

When you’re looking at the coin — look at the $BTC value. Use USD charts to help you with deciding on an entry but the name of the game is still obtaining as much $BTC as possible. There is a reason why holding $BTC from June to November was more profitable than 95% of alts during that period (they held their USD value, incredible).

Don’t get trapped into twitter shilling a coin, you always want to be invested in one before everyone starts talking about it. Most of the talk is done because people are holding the coin already and what to increase it’s value.

Don’t fall in love with your coin — have the balls to sell it when the time is right, even if it doesn’t make sense fundamentally for it to start a downtrend. Market cycles live their own lives and you are here to make profit first.

Don’t fall for big accounts shilling ref links to Bitmex. Unless you really know your stuff you shouldn’t be playing high leverage. That’s basically gambling without good TA skills.

Understand that you cannot get all the pumps. There are dozens of them daily and that FOMO feeling is even worse because everybody is talking about the pump on twitter. Turn that off. If not today, they will shill your bag tomorrow.

Set up your own strategy. Every trader is different and it makes no sense to follow somebody with a different risk tolerance levels are basically game style (swing traders/investor etc). Decide on what’s important to you and model your game around that.

If you want to enter into a pumping coin — at least wait for the pullback, never jump straight out into it. That’s a recipe for a disaster 95% of the time. Treat it like poker — you always want to make a right play, not the most profitable one.

Always watch $BTC when trading alts. $BTC is the king and right now he decides what is going to happen. Are we sideways and mooning or are we mooning and dipping alts?

Always have some spare $BTC to buy the dips and keep flexibility. I would never recommend being 100% in alts, the market is too volatile. Keep your options open.

Always sell some profits on the way up to keep diversifying portfolio. It’s better to look for another 10x than keep all the money in something that already pumped. Also the risk is lower.

Always set stop-losses. If you have good entries they will not get triggered like most of the people say. It will allow you to have liquidity and never be underwater.

Be humble — don’t think you’re a god cause you caught a really good pump. Even a monkey can catch a 10x at the right time. Never stop learning and understand that it’s the profit’s sustaining that is hard — not making it.

Good entry is more important than catching a pump. You have a lot more flexibility when you enter in a good spot, not forcing you to sell quickly to avoid a loss. It keeps your options open.

Don’t be afraid to take profits. That applies to taking profits on the way up to diversify with new coins or taking profits from everything once the moment is right (alt season done, market crashing, big events in general). Don’t fall in love in your investment, that will bring you down with it.

Never put too much into a risky coin. Bigger profitability might be tempting but keeping your portfolio stable and your head cool is more important than some additional %. Smaller coins are easily manipulated so you never want to expose yourself too much to such risks.

Never invest more than you can lose. That’s obvious but many people still are too greedy to get easy gains. I’ve received my share of “help me” messages to know that’s true.

Learn the basics of TA to know when to buy and when to sell, it’s essential. No single article like this will give you that — you have to put in your own time.

Appreciate the work other people do. Traders here are spending hours doing research and sharing it for free for others to have it without basically any effort. Say thanks, tip them, don’t demand more.

Recommended crypto traders

Outside of the TA masters that I recommended in the previous question you should also take a look at these:

@ThisIsNuse @bitcoin_dad @Sicarious_ @Cryptonoobie @FatihSK87 @AceOfWallStreet @cryptomocho @SilverBulletBTC @needacoin @daytradernik @MagUra_Crypto @AngeloBTC @VerthagOG @cryptopicasso @ZeusZissou @crypto_birb @Crypto_Brahma @tehMoonwalker

Special follow — @notsofast. Most knowledgeable guy in crypto as far as I’m concerned.

This should give you a perfect mixture of FA, TA, low caps and overall crypto knowledge from the people who are here basically from the beginning.

If you got any additional questions — hit me up on twitter @CryptOrangutang. Thanks for the attention everybody, happy trading and keep it safe out there!

Appreciating my work and calls?
Tipjar $BTC: 1LMJ19CbvxfR1PjiX64V95Xwd6UJyCeZgj

My telegram: https://t.me/cryptorangutang

Answering all cryptocurrency newbie questions

Trying to get the grip on that whole crypto thing? Not sure when to buy/sell or how to spot the next potential big gainer? There is a set of questions that every new person in crypto asks so for the sake of your learning curve and my limited time I’ve decided to answer of all them in this small paper.

Before we begin — the following article presents my ways of trading and may differ from what other traders are doing. This is not financial advice — I’m just showcasing methods that work for me, so as always DYOR and don’t follow blindly a dude pretending to be a monkey on twitter.

The article is divided by specific questions. If you are not interested in a certain topic just jump into the next one. In the end I will present some general tips and recommend certain traders to follow. Let’s begin!

“When should I buy?”

The following question will be answered from the TA perspective, so it assumes you know at least some of the basics. To understand how to get good entries outside of TA or how to start learning it — stay withing the article, I’m talking about it in latter parts.

Buying in crypto for me has 2 perspectives. The first one is based on market cycles. You probably recognize this one:

When you look at the altcoin’s weekly or daily candles you will see a very similar pattern going on for most of them in 2017. A steady, sometimes rapid pump followed by a long-lasting downtrend and an accumulation zone going into another cycle. Good recent example of that is $LBC:


Looks familiar?

The main goal in a year-long perspective is to accumulate around bottoms before the real altcoin cycles begin and get the profits once they reach their tops. The second part of the year usually goes by swing trades and new projects (that’s also where the ICOs did have their prime time this year).

The second perspective is when do we buy the coins before and inside of that cycle. A perfect set-up can have different meaning for everyone, as it depends on the time-frame and expected gains. When I am talking about a good entry I usually mean:

  • Support line inside a common pattern
  • Previous accumulation zone after completing the cycle, with a confirmation of a bottom
  • Breakout point or pullback on previous resistance

The following $ETC chart shows a lot of that here. Currently sitting on a support line inside a symmetrical triangle, very close to the all-time resistance line and is at the levels of accumulation zone from April. All that after double bottom trend reversal with high volume and bullish indicators. A very tasty bite.

On a smaller time frame we got A&E bottom that appeared on most of the alts during the previous month. Those bottoms may always look differently (triple bottom as you will see below with $POSW) so look for other indicators such as growing volume or HHHL (higher highs, higher lows) to confirm stronger reversal and start of the uptrend. This is basically the position you would like to place your bets on for the upcoming rallies.

With $POSW we got multiple support retests and a long-term resistance trend line break through. That usually means a start of an accumulation zone where the price stays stable and smart money (future you) is accumulating for the upcoming rallies. When you look at the area before the spike — it returned to the same levels, showcasing once again how the cycles work. This one was especially bullish as $BTC was still going for its ATH.

Not every chart is the same of course, so it’s always important to zoom out and look for similar patterns. Some cycles might be sped-up some may go slower but one of the main rules of TA is that history repeats itself. Example below — $DOT with its 3x spikes, currently on the move for its possibly 3rd attempt at that pattern.


Take a look how BBands got really squeezed each time before big movements

For the shorter term entries, like in the example below — after the spike — I am always waiting for a pullback. Entering during a green dildo will not only give me a bad spot to set-up my stop-losses but also puts me in a direct risk of getting underwater with the buy before I evaluate my position. For entering inside a pullback I am using Fibs measured from the bottom to the top of the pump. The golden ratio that I am always looking at is 0.618 as seen in the examples below with $XEM and $ENG. Both of them went on pretty crazy runs afterwards, meaning that was the local bottom of a very strong uptrend.

Another thing I am looking for in entries are retests of previous resistances. Usually after a strong breakout confirmed by a good volume the price comes back to retest a long-term trend line in order to bounce off of it. That’s a very bullish sign usually confirming start of the new uptrend, especially if it’s done on a bigger time frames. Recent examples — $VIA and $BCH.

There are of course dozens of other indicators that traders are using to pick up good entries such as Ichimoku cloud’s and EMA’s crosses but those topics are too broad to talk about them here. During the next parts of this article you will be presented with good TA materials to study so that you can find techniques that work best for you.

“When should I sell?”

Selling depends highly on your style of trading — are you a day trader or an investor? You want some quick profits from the swings or you prefer holding the coins for maximum profit? The answer to both cases is actually pretty similar. Keep in mind that the following analysis is assuming that you know some of the TA basics — more info on how to start is available in the next parts of this article.

General rule — I pick my exit points accordingly to previous key levels (local ATH, trendlines, strong supports etc) and fib levels. I usually confirm the sell by analyzing RSI. Most of the time I hold the majority of the bag outside of my initial investment until I see a potential reversal signs, while taking some profits along the way.

Finding an exit point in short-term is very similar to finding it long-term. The main difference is basically time frames that are being used. For very quick trades the best way to find a profitable swing is recognizing patterns such as ascending triangles, bull flags etc. Those are quick consolidation levels in a clear uptrend which have very predictable outcome levels. $LINK as the example below had a textbook triangle going on after a bigger spike.

For more general exit points I’m always looking at the bigger picture. Where is the next bigger resistance line (previous support turns into current resistance) or the next fib level. Keep in mind that it all should be in a clear uptrend, being bullish in an obvious downtrend is almost like an illness — don’t allow yourself to become a bulltard.

Keep in mind that the road to the target is never that easy. There will be dozens of other small patterns in between which give more short-term opportunities. Take a look at the $NEO chart — the first target was the previous support and second one was the biggest resistance available, connected to the 1 fib level from the ATH. Simply holding will get you to the target but there were a lot of pullbacks and smaller flags along the way.

There are also cases of absolute tops after a parabolic movements like recent $XVG run. At those times more than TA I prefer to go with the market sentiment. During final pushes I’ve seen articles claiming that verge is going to be the next bitcoin and that’s outside of overall euphoria. The old golden rule fits perfectly here — buy the FUD, sell the greed. And God damn verge shillers got no shame when it comes to buying a coin which did x2000 $BTC-wise in less than a year.


Goodbye old friend, you will not be missed

“How do I start with TA?”

Here is the list of things that I think are more than enough to start learning TA:

Technical Analysis of the Financial Markets by John J. Murphy

https://www.babypips.com/

https://www.youtube.com/user/carpenoctom

And that’s literally it. Everything that you need to know can be taken out of those 3 sources. Once you get the basics you can start looking for some individual indicator tutorials on YouTube. Of course this is only theory — to really start using TA you need to create your own charts from the first moment you grab that book/website. Try experimenting with different indicators, draw some scenarios and come back to see if they work. Learn from other traders and see what works for them, because everybody got a different recipe for a good TA. Those are the twitter traders that I recommend, make sure to check them out:

@MPovolotski @cryptowilson @cryptocred @crypto_loot @cryptoWalk3r @Crypto_Ed_NL @CryptoTutor @VentureCoinist @Beetcoin @crypto_rand @galaxybtc @CarpeNoctom @CRYPTOBANGer @anambroid @Anbessa100

Not much more to it than this. You have to put a lot of work in. Even if you do not want to chart yourself, you should get the basics to recognize and analyze work of other people. Small tip from myself — simple TA = better TA. Don’t over complicate it. I tend to only use trend lines and RSI, sometimes Ichimoku, BBands and EMAs.

“What do you think about coin X?”

The most common question of them all. When you are asking about a certain coin you should realize that me or every other trader must do the same work as you would if you did a research on it. Check the recent price action, use cases, team, roadmap — everything. Even if you do not know the technology and TA that well — this is the way to finally learn it.

Speaking from the experience — my real gains started when I was finally able to find those undervalued coins by myself, before anybody started talking about them. That’s how I found $POWR in pre-ico and that’s how I did 30x on $XRB, 25x on $BCO and x15 on $XBY only recently. If you are serious about staying in this space for long time then doing your own research and trusting it is the first step you should take. Unless you want to end up like this guy (legit questions that I receive daily):

Understand that getting a confirmation that a coin is good from your favorite trader doesn’t change anything about it. Even if somebody tells you it is great you still should be aware of its specifics, tech and people behind it. So cut the umbilical cord and start doing some research.

“Which coins should I invest in?”

The ones that you think are going to grow from the moment you put your money in, till the moment you take it out.

Depending on your preference — as always — in the short term you could be looking at the coins that are having a pretty big release coming up (to look them up use http://coinmarketcal.com/). There is usually some FOMO leading to the event but remember that news are always already priced-in in some way — don’t take that growth for granted. For every other occasion you should be looking for coins that:

  1. Have good fundamentals (use cases, good team, low supply, USP)
  2. Have good looking charts (yet unpumped, not in a clear downtrend, during a pullback after a breakout)
  3. Are yet undiscovered by bigger audience (use $tags on twitter to see how many people are talking about them)

If you don’t have the time/don’t want (sigh…) to do your own research there are a lot of free/paid groups out there providing these kind of calls. If you are willing to put your money into somebody else’s pick — I can’t blame you, if the person knows its stuff then it might be highly profitable. It gets trickier when the pick doesn’t work and the only person who lost on the bet is you.


A must-have tool in your crypto-research toolkit

I’m going to go on a small rant here to actually answer that one. Being spoon-fed is the cancer of crypto. You should understand that there is a lot more to trading than just taking/buying the signals from successful traders. You should know what % of portfolio should go into each coin, how long do you want to hold it, how to set stop-losses on it, at what level should you take some profits from it or how to act when the market suddenly crashes. Every trader has a different strategy and risk tolerance. Nobody takes responsibility for a loss besides you so if you are going to invest your money in a coin be aware of all the other elements of trading before relying completely on some random twitter people (including me). It’s all fun and games when you make money in the bull market — not so much when the pumps stop and you are left with sustaining the profit by yourself.

The truth is most of the people having paid groups now (or even free call channels) were just like you few months ago. The difference is that they put in the work to learn the game and become self sustainable. Basically most of the calls from the groups could be found either for free or by research, but that would require time and learning from people who don’t want to do. If you have to join — join one that is teaching TA/FA. Nothing actually wrong in that — if there is a demand why not take advantage of it? Same goes the other way, as the groups can be really profitable for users if they really don’t have enough time to do research by themselves. But let’s be real, I’ve read way too many messages begging for tips to know how majority of this works.

Just don’t be like this guy. Not asking for an advice on what to buy should go in pair with putting in work on your own.

And if you do use other’s hard work — at least appreciate it, say thanks and maybe even throw a tip in there after a good trade. No wonder a lot of bigger traders are hesitant to help the newbies if all they do is demand.

“What should I do with my alts when BTC is running?”

For the last few months people are consistently dumping alts when $BTC moons. At our current position (with alts starting their new uptrends and are generally bullish) I don’t mind holding through the dips. I treat that as a healthy correction before running even higher.

If you are a day trader though, that’s a different story. It would be more logical to sell before all the dumps but the margin of error is small here. If you are not an experienced trader it’s actually pretty hard to get the timing right and more often than not it ends in something like this:


You would be surprised how many people do that

It all comes down to your individual preferences. Sticking to your strategy is essential here, panicking is what will always get you rekt. First recent “blood” actually took my portfolio to 15% more gains, while other traders sold and increased their positions so there is no golden rule. The second one got me pretty rekt but still in great profits. Be aware however that the correlation might change in the future and we could see alts and $BTC mooning together. Best solution in between would be having some tight stop-losses on profits with signals but until we are that early into this altcoins cycle I’m not ready yet to sell any of my good entries.

“Should I continue to hold?”

What was your entry? Are you confident in the project? Did you enter for a swing trade or is it a long-term trade for you? There is too many individual questions to answer that one with a yes/no. Nobody can pull the trigger for you so before going into the trade try deciding on what kind of trade it is.

If you have a good entry level and believe in the project’s potential — hold for bigger gains, selling small amounts along the way.

If you are not sure about the project’s direction and your position right now is shaky — set up some tight stop-losses. If it manages to run you will get some additional profit. If not — you always get some spare $BTC to buy the dip or move on to the next project.

Once again it all comes down to one thing — doing your own research and knowing when do you want to realize profits from that specific trade.

One more thing, essential one — $HODL is one of the worst advices I’ve heard in this space. You never want to be underwater with your bag when it’s clear that it is beginning its downtrend.

Cut your losers quickly, let your winners run — holding makes sense when are in a very undervalued, under the radar gem. That’s how you maximize profits. You wait till it reaches more people, gaining volume and value up from your very low entry. Holding doesn’t make sense when you are going down from a huge pump or the market is crashing with at best a chance to get even. Even if one day it recovers to the previous levels, you are missing out on a ton of trades that could’ve been done during the time of your holding.

“How do I find a new gem?”

Let’s make something clear from the start — finding a new, undervalued projects takes A LOT of time and effort. No other way around it. Since I’ve got 2 very good articles below this answer, I will only tell my quick ways how I am digging up new gems:

  • Coinmarketcap

Open up https://coinmarketcap.com/ and dig. Go to the Recently Added page and research every new coin daily. Go below top 400 and check. literally. every. coin. All the traders that find those gems on twitter are doing just that — spending long hours on studying coins that 99% of other people never heard of. Look if there is some recent volume appearing on them, if the project itself is legit and if there is anything coming up development-wise. It usually takes few good shills to get the under the radar gem flying across the twitter.


Check the new coins daily — it usually takes some time before people realize their existance
  • Twitter big profiles

Recently there are more and more traders who ask for people’s bags. Take advantage of that and research every thread like this for the $tags that you never heard before. People with early entries like to promote their coins to the bigger profiles in hope of having them recognized.

  • Bitcointalk / New ANNs

Open up https://bitcointalk.org/ and go through the threads and all the newly added ANNs. You got here tons of shilling and basically every new project before it even hits CoinMarketCap. If you really want to be early in a project and watch it gain traction — that’s the way to do it. I would say that 90% of content there is not even readable because of all the trolling and pure stupidity, but hey — that’s crypto. Also check out ANN bot on twitter if you want to only focus on the new threads the second they appear on the forum.

Now take a look at these 2 articles by @daytradernik and @crypto_rand. Very insightful stuff from 2 of the most successful traders out there.

“Which coin is the next 100x?”

The one that you get when it’s not known yet and you hold it long enough to see these kind of gains. Sometimes it takes a month ($XRB), sometimes it takes years. Patience is the key to success here. Don’t FOMO into other coins if you want to catch those X’s


It often takes time to recognize good technology

“Is it too late to enter now?”

One of my main rules that I live by in crypto is to never chase the pump. If I miss a good entry on a coin I go to a different occasion as there are dozens of them daily. I understand that going into a coin that is pumping might be temping because of the quick gains but it’s actually the opposite of it. The point here is to get an entry before the coin gets recognition, not in the middle of the growth. Going after a green dildo because of FOMO or whatever other reason is connected to a lot of risk outside of having a very bad entry, which has bigger consequences than just smaller gains (vulnerable for volatility, no way of setting normal stop-losses).

There is a reason why all the good traders are trying to buy the dips for the few weeks before altcoin cycle starts and not after they’ve already launched. So is it too late to enter now? Most of the times you are asking this— yes. Wait for the pullback if you want to enter. Especially if you really like the project for long-term and this might be the last chance to catch it at lower levels (after a big announcement). You got at least few new coins added daily and dozens of them shilled by twitter every hour. You got ICOs, new announcements for older coins, rumored partnerships and hundreds of other events basically everyday.

And you are going to leave your X00% potential position for a 30% pump?

“How much should I sell after my coin pumps?”

That’s a very individual case. I like to sell my initial investment after I feel the first initial pump is done. It may mean going 50/100/200 or even 1000%, it all depends on a project. It is preferable to sell some amounts, even small ones, along the way to always have some spare $BTC to buy the dips.

Also — don’t be afraid to sell most of the coins when the time is right — there is a reason why so many people are making fun of $DGB bagholders. Consider leaving some of the coins for some future pumps though — it eases your mind that you are not missing out when it pumps again. I usually leave around 10% of my total bag.

“How do I manage my risk better?”

When I say that there is much more to trading then just buying low, selling high I usually mean risk management. It’s very easy to ride the pumps but very hard to keep the profits when the market goes into the downtrend. I could divide risk management into 2 main parts:

  1. Keeping your coins safe. That means not using exchanges as your wallet, always having 2FA on, never sharing your private keys, using hardware wallet etc. There is a person much better oriented in that then me and basically anybody else on the planet so I will let @notsofast talk here:

https://steemit.com/bitcoin/@notsofast/4-ways-to-secure-your-bags-bitcoin-altcoins-cryptoasset-tokens-whatever-a-notsofast-security-primer

2. Second part is managing your risks while trading. Those rules may differ for every trader but I will say what works for me and keeps me sane at all times:

  • Always have some free $BTC lying around. This allows you to buy the dips, enter sudden occasions and is generally healthy for the portfolio’s growth as the whole market trades in $BTC pairs and all alts usually dip at once during $BTC rallies.
  • Diversify your portfolio. You never want to be stuck with all your money in 1 or 2 project (unless it’s $BTC or $ETH). Having bigger amount of coins lowers your overall risk and no coin in crypto is a sure-fire bet to never suddenly crash. A good example by @needacoin — while having 10 bags you only need 1 of them to go 10x to be even when every other trade literally goes to 0. One or two winners can cover-up for overall terrible day for all your other positions. Of course try not to over-diversify —lowering your risk also lowers your profitability. You are here to make money, not to catch all the pumps with 5$ bills.
  • Always set-up stop-losses. People that say they never work and trigger all the time making them lose money usually are the people who enter in terrible spots. The point of stop-losses is to put them below important support lines, so that when they trigger you can be sure the downfall will be even stronger than the level your order got filled. Setting a 10% stop-loss after entering the middle of a green candle makes as much sense as the recent $ADA growth. There is no point in staying underwater with your bag if you can buy it back lower or enjoy the ride with $BTC while it destroys other alts. Just remember to set the alarms when the target is hit.
  • Don’t put the majority of your portfolio in very low caps. This one if for the people who want to have a steady growth and not gamble with 90% of their stash on shitcoins. The smaller a coin is the more volatile it is. I am trying usually to put a very low % of my portfolio in lower-cap and let it become a bigger position with time due to its growth. Shitcoins are vulnerable to manipulation and often have problems with liquidity so try allocating your $BTC accordingly to the level of risk a coin represents.
  • Take profits on the way up. That’s a healthy way of increasing your $BTC amount and it gives you more flexibility on the next moves. It would also hurt less if you don’t manage to sell the coins at the top, which doesn’t happen a lot anyway.

General tips

Learn the game. Like really, don’t be lazy and start studying the space. No success will come for you in the long-term unless you learn TA and FA by yourself.

When you’re looking at the coin — look at the $BTC value. Use USD charts to help you with deciding on an entry but the name of the game is still obtaining as much $BTC as possible. There is a reason why holding $BTC from June to November was more profitable than 95% of alts during that period (they held their USD value, incredible).

Don’t get trapped into twitter shilling a coin, you always want to be invested in one before everyone starts talking about it. Most of the talk is done because people are holding the coin already and what to increase it’s value.

Don’t fall in love with your coin — have the balls to sell it when the time is right, even if it doesn’t make sense fundamentally for it to start a downtrend. Market cycles live their own lives and you are here to make profit first.

Don’t fall for big accounts shilling ref links to Bitmex. Unless you really know your stuff you shouldn’t be playing high leverage. That’s basically gambling without good TA skills.

Understand that you cannot get all the pumps. There are dozens of them daily and that FOMO feeling is even worse because everybody is talking about the pump on twitter. Turn that off. If not today, they will shill your bag tomorrow.

Set up your own strategy. Every trader is different and it makes no sense to follow somebody with a different risk tolerance levels are basically game style (swing traders/investor etc). Decide on what’s important to you and model your game around that.

If you want to enter into a pumping coin — at least wait for the pullback, never jump straight out into it. That’s a recipe for a disaster 95% of the time. Treat it like poker — you always want to make a right play, not the most profitable one.

Always watch $BTC when trading alts. $BTC is the king and right now he decides what is going to happen. Are we sideways and mooning or are we mooning and dipping alts?

Always have some spare $BTC to buy the dips and keep flexibility. I would never recommend being 100% in alts, the market is too volatile. Keep your options open.

Always sell some profits on the way up to keep diversifying portfolio. It’s better to look for another 10x than keep all the money in something that already pumped. Also the risk is lower.

Always set stop-losses. If you have good entries they will not get triggered like most of the people say. It will allow you to have liquidity and never be underwater.

Be humble — don’t think you’re a god cause you caught a really good pump. Even a monkey can catch a 10x at the right time. Never stop learning and understand that it’s the profit’s sustaining that is hard — not making it.

Good entry is more important than catching a pump. You have a lot more flexibility when you enter in a good spot, not forcing you to sell quickly to avoid a loss. It keeps your options open.

Don’t be afraid to take profits. That applies to taking profits on the way up to diversify with new coins or taking profits from everything once the moment is right (alt season done, market crashing, big events in general). Don’t fall in love in your investment, that will bring you down with it.

Never put too much into a risky coin. Bigger profitability might be tempting but keeping your portfolio stable and your head cool is more important than some additional %. Smaller coins are easily manipulated so you never want to expose yourself too much to such risks.

Never invest more than you can lose. That’s obvious but many people still are too greedy to get easy gains. I’ve received my share of “help me” messages to know that’s true.

Learn the basics of TA to know when to buy and when to sell, it’s essential. No single article like this will give you that — you have to put in your own time.

Appreciate the work other people do. Traders here are spending hours doing research and sharing it for free for others to have it without basically any effort. Say thanks, tip them, don’t demand more.

Recommended crypto traders

Outside of the TA masters that I recommended in the previous question you should also take a look at these:

@ThisIsNuse @bitcoin_dad @Sicarious_ @Cryptonoobie @FatihSK87 @AceOfWallStreet @cryptomocho @SilverBulletBTC @needacoin @daytradernik @MagUra_Crypto @AngeloBTC @VerthagOG @cryptopicasso @ZeusZissou @crypto_birb @Crypto_Brahma @tehMoonwalker

Special follow — @notsofast. Most knowledgeable guy in crypto as far as I’m concerned.

This should give you a perfect mixture of FA, TA, low caps and overall crypto knowledge from the people who are here basically from the beginning.

If you got any additional questions — hit me up on twitter @CryptOrangutang. Thanks for the attention everybody, happy trading and keep it safe out there!

Appreciating my work and calls?
Tipjar $BTC: 1LMJ19CbvxfR1PjiX64V95Xwd6UJyCeZgj

My telegram: https://t.me/cryptorangutang

How to make millions as a crypto venture capitalist with $1000 or less

The short answer: Initial Coin Offerings (ICO’s)

Now. If your first instinct is to roll your eyes and click away or you’re new to this world. I’d highly recommend reading my previous article.

It shouldn’t be any surprise to us that when there’s a new technological trend sweeping the globe, business isn’t far behind and those that fail to follow are often the ones that are left in the dust. Internet… smartphones… and now, blockchain related tech.

Once you research into these areas you’ll begin to realise how these technologies are going to decentralise and change many parts of the world.

Inadvertently, they’ve already decentralised investing in a way.. Giving more people access to investment opportunities with ridiculous returns that would usually only be available to accredited investors or the super wealthy.

There will never be a better time to invest in crypto. It’s only going to boom from here.

So what is an ICO and how is it going to make me crazy profit?

An ICO is a new method of crowdfunding that allows new blockchain companies to gather funds for the early stages of their project. Since they are so early stage and haven’t been established in the market yet, you’ll be able to purchase coins or tokens related to their project for ridiculously cheap as they’re still building trust in the market and need initial funds.

Let’s look at some examples

Ethereum — 22 July 2014
ICO
: $0.311
Current Value: $960
% Gain: 
+309039%

$1000 invested into Ethereum 3.5 years ago at ICO would be worth 3 MILLION today.

— — — — — —

Stratis — 20 June 2016
ICO:
$0.007
Current Value:
$16.957
% Gain: 
+233056%

$1000 invested into Stratis 1.5 years ago at ICO would be worth 2.4 MILLION today.

— — — — — —

OmiseGO — 15th July 2017
ICO:
$0.244
Current Value:
$19.881
% Gain: 
+8044%

$1000 invested into OmiseGO 6 months ago at ICO would be worth $81,500 today (early Jan 2018).

Now i’m not one for wishful thinking but If i’d bought into this ICO instead of my trip to Europe at the same time, I’d be sitting on over half a million dollars right now…

The point i’m trying to make is that these ICO’s are happening as we speak with over 100 being released every week. We’re in the middle of it and it will continue well beyond 2018. If you don’t want to miss out, it’s time to become a crypto VC.

What you’ll need:

  • A solid understanding of blockchain technology, decentralisation and how most exchanges and wallets work. To get this done quickly, check out this course. You can get through it in a day.
  • An ERC20 compatible digital wallet like Metamask. I use the browser version and it saves me a lot of time. You’ll need a wallet like this to store the ICO’s and tokens that you buy into until they become available on an exchange.
  • You can check out and keep track of ICO’s through a bunch of different websites but I like to use ICO Watch and ICO Bench as well as browse through channels like Facebook, Twitter, Youtube and Reddit to see what people are talking about and recommending.

How to find a good ICO

The Idea: What are they doing that’s unique or different from other cryptocurrencies? Is there a need for this now or in the future? Do you understand the concept? do they have a white paper? Speak to people who would resemble their target customers or users. Are they excited about it? Is it going to disrupt an existing business or industry? How is it going to scale?

The Team: Who are they? What have they done? What is motivating and driving their involvement? Who are the advisors/partners and how accessible/transparent is everyone involved?

The Community: How large is the community? Is there a subreddit, telegram, discord, etc? How active is the company on social media? How does the community engage with their posts? Have they received much media attention?

Financials: How much money are they trying to raise? How many tokens/coins are there in total and what % is available to the public?

Roadmap: What are their plans for the next 3–6–12 months and beyond? Do they have an MVP or prototype?

Here’s some solid ICO’s that i’ve come across:

So what’s the plan?

1. Invest into ICO after doing extensive research into it.

2. Take out initial capital or half the investment after a few months of growth and let the rest sit long term.

3. Use the profits from the successful ICO’s to invest more into new ones.

4. Rinse and repeat.

Thanks for reading! Any questions? Shoot me a message or leave them below.

How to make millions as a crypto venture capitalist with $1000 or less

The short answer: Initial Coin Offerings (ICO’s)

Now. If your first instinct is to roll your eyes and click away or you’re new to this world. I’d highly recommend reading my previous article.

It shouldn’t be any surprise to us that when there’s a new technological trend sweeping the globe, business isn’t far behind and those that fail to follow are often the ones that are left in the dust. Internet… smartphones… and now, blockchain related tech.

Once you research into these areas you’ll begin to realise how these technologies are going to decentralise and change many parts of the world.

Inadvertently, they’ve already decentralised investing in a way.. Giving more people access to investment opportunities with ridiculous returns that would usually only be available to accredited investors or the super wealthy.

There will never be a better time to invest in crypto. It’s only going to boom from here.

So what is an ICO and how is it going to make me crazy profit?

An ICO is a new method of crowdfunding that allows new blockchain companies to gather funds for the early stages of their project. Since they are so early stage and haven’t been established in the market yet, you’ll be able to purchase coins or tokens related to their project for ridiculously cheap as they’re still building trust in the market and need initial funds.

Let’s look at some examples

Ethereum — 22 July 2014
ICO
: $0.311
Current Value: $960
% Gain: 
+309039%

$1000 invested into Ethereum 3.5 years ago at ICO would be worth 3 MILLION today.

— — — — — —

Stratis — 20 June 2016
ICO:
$0.007
Current Value:
$16.957
% Gain: 
+233056%

$1000 invested into Stratis 1.5 years ago at ICO would be worth 2.4 MILLION today.

— — — — — —

OmiseGO — 15th July 2017
ICO:
$0.244
Current Value:
$19.881
% Gain: 
+8044%

$1000 invested into OmiseGO 6 months ago at ICO would be worth $81,500 today (early Jan 2018).

Now i’m not one for wishful thinking but If i’d bought into this ICO instead of my trip to Europe at the same time, I’d be sitting on over half a million dollars right now…

The point i’m trying to make is that these ICO’s are happening as we speak with over 100 being released every week. We’re in the middle of it and it will continue well beyond 2018. If you don’t want to miss out, it’s time to become a crypto VC.

What you’ll need:

  • A solid understanding of blockchain technology, decentralisation and how most exchanges and wallets work. To get this done quickly, check out this course. You can get through it in a day.
  • An ERC20 compatible digital wallet like Metamask. I use the browser version and it saves me a lot of time. You’ll need a wallet like this to store the ICO’s and tokens that you buy into until they become available on an exchange.
  • You can check out and keep track of ICO’s through a bunch of different websites but I like to use ICO Watch and ICO Bench as well as browse through channels like Facebook, Twitter, Youtube and Reddit to see what people are talking about and recommending.

How to find a good ICO

The Idea: What are they doing that’s unique or different from other cryptocurrencies? Is there a need for this now or in the future? Do you understand the concept? do they have a white paper? Speak to people who would resemble their target customers or users. Are they excited about it? Is it going to disrupt an existing business or industry? How is it going to scale?

The Team: Who are they? What have they done? What is motivating and driving their involvement? Who are the advisors/partners and how accessible/transparent is everyone involved?

The Community: How large is the community? Is there a subreddit, telegram, discord, etc? How active is the company on social media? How does the community engage with their posts? Have they received much media attention?

Financials: How much money are they trying to raise? How many tokens/coins are there in total and what % is available to the public?

Roadmap: What are their plans for the next 3–6–12 months and beyond? Do they have an MVP or prototype?

Here’s some solid ICO’s that i’ve come across:

So what’s the plan?

1. Invest into ICO after doing extensive research into it.

2. Take out initial capital or half the investment after a few months of growth and let the rest sit long term.

3. Use the profits from the successful ICO’s to invest more into new ones.

4. Rinse and repeat.

Thanks for reading! Any questions? Shoot me a message or leave them below.

Beware of Bubbles

What is a bubble?

In the context of capital markets, a “bubble” is a phenomenon in which the prices of an asset or asset class are bid up to levels far beyond their historical baseline, and far beyond what any rational valuation of future prospects would warrant.

Put simply, bubbles typically arise when some legit factor causes there to be excess demand for an asset, thus forcing the price of the asset to rise. This rise in price attracts speculators looking to turn a quick profit, which in turn drives the price up further. If speculators drive its price up enough, it gets the attention of the large financial institutions. Those who are bullish on the asset or are confident that they can make a quick buck out of it begin to drive its price up at an exponential rate. A fear of missing out kicks in and fund managers buy in simply because they see other managers doing the same. At this point, fortunes have already been made by those who bought in at the beginning. Stories of these overnight millionaires flood the news, suddenly everyone with a few bucks to scrape together is considering joining the fold.

This is where the calls of a market bubble start to appear. Sophisticated investors familiar with past market bubbles start to cry out that there is no away these price increases can continue. However, prices keep going up. There are still enough unsophisticated investors drawn in by the tales of the overnight millionaires, hoping it is not too late. Typically there are even large price corrections, but the asset quickly returns to reaching new highs. Eventually, the voices warning against a market bubble begin to get drowned out by the crowd.

Buyers begin to think that there is no limit to how high the price can go. To quote Alan Greenspan (though he was not the first person to use the expression), “Irrational Exuberance” begins to set in. Unfortunately, it is at this point, when the least sophisticated investors have just managed to scrape some money together to get in on the action, that there is no one left who is looking to buy in. At this point, supply starts to outpace demand, and prices begin to fall.

As soon as the this happens, all the speculators begin to panic and sell out immediately, since their decision to buy had no relation to the underlying fundamentals of the asset. No one is left waiting on the outside too buy in on the next price correction, so prices continue to decline. This leads to an incredible reduction in prices, leaving the common investors, those last to enter the fray and last to find out that the party is over, with empty retirement accounts and a wealth of newfound knowledge.

Past Bubbles

Perhaps the most notorious bubble occurred for tulips in 17th-century Holland, and has since been coined “tulip mania”. Tulips were brought from Turkey into Holland in the late 16th century, and the novelty of this new flower made it very sought after, driving up the price. This attracted more buyers, raising the price again and again until inevitably the priced collapsed. The price fell from around $60 to ten cents, and overnight the savings of thousands of people were completely wiped out.

While the idea that tulips could be purchased for investment purposes at any price is particularly absurd, in truth, no asset is a good investment at any price. The most recent bubbles have occurred in industries which truly had a phenomenal potential for growth, yet even so, this potential for growth was still only finite. The valuations placed on the companies in these industries were priced as if they were guaranteed to grow hundreds of times over in the immediate future. Inevitably reality would sink in, and even if a given company was still poised to increase its earnings 10x over the next few years, it would see its stock price crumble.

The best example of this is the intertnet bubble, the Nasdaq declined by 75% from 2000–2002. Speculation that internet the would fundamentally change the way the world operated caused buyers to believe that no price was too high to pay for interenet stocks. Companies who added “tech” or “internet” to their name saw their share price increase astronomically within a matter of days. IPO’s for new tech companies were a near-daily occurrence, and investors would throw their money at these companies with little to no due diligence. While investors were right about the fact that the internet would change the world and dominate the lives of millions of people, many of these companies didn’t make last more than a handful of years, and it took 20 years for the Nasdaq stock index to surpass its 2000 peak.

This is where the true danger lies, not in industries with have little prospect for legitimate growth, but in industries with awesome potential.

Today’s Bubbles

CryptoCurrencies

Cryptocurrencies have the potential to completely revolutionize the global financial system. They have the potential to circumvent central banks, allow for the expedient transfer of money across borders, and potenitally lower fees, among a barrage of other potential uses. The blockchain technology that enables them to function has revolutionary potential in its own right. While some may doubt the validity of cryptocurrencies, there are very few in the know who scoff at the potential of blockchain technology.

All of this potential for growth has caused the price of the most predominate cryptocurrency, bitcoin, to increase fifteen-fold over the course of 2017. Other cryptocurrencies have experienced a similar rise. Reminiscent of the tech bubble in the early 2000’s, companies have seen their share prices increase several times over simply because they added some variant of blockchain or cryptocurrency to their name. New coins are being launched, known as an initial coin offering (ICO), and the prices of such coins often skyrocket upon their launch due to massive amounts of promotion only to crash back down shortly thereafter.

One problem with cryptocurrencies is that there is no standard method for valuing them. They produce no earings and they give holders claim to no assets. Any intrinsic value for cryptocurrencies stems from the natural demand for them in order to complete transactions.

Alas, the increase in price over 2017 has not come as a result of an increased likelihood that Bitcoin will be used for transactions across the world, i.e due to a growing acceptance as a store of value and medium of exchange. Instead, it is the of a result of a speculative bubble. As with previous market bubbles, this situation is unlikely to end well, and it will be those who can afford to lose the least who will suffer the most.

Marijuana?

The underground market for marijuana in North America is likely in the billions. With Canada expected to legalize the substance sometime in July 2018, and many States having already gone ahead with legalization, cannabis stock have risen through the roof. Companies with negative earnings are being given billion dollar plus valuations based primarily on speculation.

While some companies are sure to dominate this industry and warrant their sky high valuations, just as a few select internet stocks did in the past, the vast majority of them will likely fall short. Even those which are ultimatley successul will take a long time to realize the level of earnings which justifies their current valuation and may well become more affordable before that time arrives.

Unlike cryptocurrencies such as Bitcoin, there is less reason to believe that marijuana stocks are in bubble territory. In fact, whether they will ever get to that level is also uncertain, but it is a fair statement to say that the majority of these companies should be classified as highly speculative given their current valuations.

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick!

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

I appreciate all my loyal followers! For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/JfkWfUy(join the group to reach me directly and see posts early!). If the title is a foreign language to you read my Cryto-101 post and let’s go from there: https://redd.it/7m48ne Remember in trading minutes matter, hours are eternities.

We are only on day 3 of the KuCoin picks and yesterday’s is already up 50–70% depending on when you got in. DRGN is the brainchild of Disney, until the coin is traded on Binance and Bittrex I see it continuing to appreciate in value. However, that was yesterday’s pick! (Day 2 Pick: DRGN).

2 days ago the pick was KCS, also up 15%. As we all cumulatively trade more on KuCoin inherently the value of the underlying exchanges coin, the KCS, will appreciate. More traders, more volume, more daily picks, make it clear the KuCoin exchange will only continue to get more popular (Day 1 Pick: KCS).

Moon Shot Pick 3 on KuCoin: BNTY Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M

Ahhh here we are on day 3 after a successful day 1 and 2. Although we haven’t “mooned” we have made some serious % returns. Even with other alts crashing and BTC going sideways. I expect DRGN to truly moon when it hits new exchanges and once Disney starts advertising it. However, that was yesterday. Today the pick is BNTY!

BNTY is a pretty amazing coin. They are digital Bounty Hunters (I’m serious) and it’s ingenious! They put out bounties associated with accomplishing tasks on the internet, specific tasks, locating hackers, think Dog the Bounty Hunter for the internet domain. With a total market cap of $18million and KuCoin being the biggest exchange that trades it, BNTY has significant room for appreciation. They already have a bounty out for a recent hack and for an ICO to be launched months ago and to have a functioning platform this early is very impressive.

I think BNTY can easily hit a market cap of $30million prior to hitting exchanges like Binance and Bittrex. Once it hits these bigger exchanges I would expect it to slowly approach a market cap of $100million (over the course of 4 months). That will be a 600% return if BNTY reaches a market cap of $100million while you are holding it. This type of appreciation is standard for a “mature” ICO after the course of 4–6 months. BNTY seems to have a bright future creating “bounties” for a broad range of online tasks while also only being listed on extremely small exchanges. This provides us the opportunity to scoop up underpriced shares before BNTY hits large exchanges! December 29th, 72hrs ago the market cap was almost 100% higher than it is now. BNTY can move 100% every few days. I’d get in now that it is 50% down from 3 days ago and is projected to hit other exchanges this month. Moon.

BNTY, DRGN and KCS are my favorites for KuCoin. KCS as KuCoin becomes larger as an exchange, DRGN due to it being the brainchild of Disney, and BNTY because of its ingenious program. I am involved in all 3. Make sure to use my link! https://www.kucoin.com/#/?r=1cH1M

One of my favorite ICOs of the year finished (Covesting), within 2 days of providing you guys the opportunity to get involved. However, due to 100s of emails looking for a new ICO I spent my Saturday night researching them.

STORIQA: I found the “Amazon of crypto marketplaces”: STORIQA. It has the most impressive advisors I’ve seen in a long time! This is key for early adoption among the community and when planning the likelihood of being chosen for a high caliber exchange. The price point is at $.005 per coin (price goes up soon), so at a 1 penny price point, ICO investors make 100% returns. 2 pennies mean you make a 300% return. I see Storiqa being priced between 2 and 5 pennies by the time it hits exchanges, based on the platform and advisors. If there is early adoption of their web platform (Amazon for crypto purchases) $1 would not be out of question in 6–12 months. That would be a 200x profit. ICOs are the chance for real moon opportunities prior to the general public being able to trade the coin, or really know about the technology. Get in early while you still have a 20% bonus, the hard cap will be reached soon! If interested in purchasing this ICO please use my link: https://tokensale.storiqa.com/?ref=6663944dff31989391d803ce-

Crypterium — The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The ICO is also ending very soon! The bonus period ends in 1 day so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/ref=4a5381543424516aa2b4e3a6

So if you are a daily follower you know my current favorite Buy and Holds…Some of this information has been stated previously.

Lowest Risk, Favorite Play: STRAT (info below)

IGNIS, the future value of the NXT airdropped token spiked to over $20 per coin yesterday. Today it is hovering around $12 but at a price point of $10, each NXT holder will have made 300–400%. Let’s hope IGNIS maintains a strong future price moving forward. With the new ARDR network I see IGNIS being worth much more than expected, $17 may be a bit high, but $10 is still a 400% gain in very minimal time.

ADX, is a favorite of mine for multiple reasons. They have yet to appreciate significantly following the second fork yesterday morning (while most alts have recovered 20+%). They have a profitable platform already for coin holders. This is essential for every coin. Without a platform for a functioning coin, the coin is just unique code using up electricity. ADX advertised space on EasyJet boarding passes successfully last month and now is selling over 1 million more advertising spaces. This is a profitable coin with a strong future already occurring. Did I mention they have news coming out this week, right after the 2nd fork. If I were to bet, I’d say a good amount of the BTC $$ will flow toward alts with upcoming news. ADX will have a port to NEO by the end of the month, also very important news. ADX wins because NEO wins, Asian markets enjoy trading even more than the U.S. currently, their favorites will be flooded with their BTC funds ADX and NEO are big favorites of mine for the week(ICX too). ADX can be traded on Binance.

NEO, has meetups in Dublin, Hamburg, Amsterdam, and London the first two weeks of January. The exposure immediately following the 2nd fork when funds are freed up from BTC will be important and NEO is hosting the largest event of the week in one of the biggest blockchain cities in the world, immediately following the 2nd fork. Want to guess where the Asian market is going to put their profit from BTC this last week? Everyone sees the upcoming calendar and realizes the next 2 months will provide more exposure than any 12-month period in crypto history. The King shall have a Crypto Kingdom . NEO is the latest addition to the buy and HOLD list with some of your BURST proceeds!

PAY, Although their Christmas news was underwhelming they are having their worldwide card rollout January 1st. I believe they have a strong platform and an upcoming rollout which is why they should directly benefit from funds being transferred from BTC back to alts. This is a very important coin to watch circa Jan 1st.

ENJ, By January 1st, they are coming out with a Minecraft Plugin and Digital Wallet for your phone. The coin is a token designed specifically for gaming with a Minecraft Plugin and Digital Wallet being completed this week. They are also running a promotion giving away free ENJ on the Minecraft platform to get users involved. What could be a better boost to your coin value than a working Minecraft Plugin and a brand new wallet? ENJ I expect big things from you this week. The fork and news this week should diver a lot of $$ from BTC to alts like ENJ specifically. Check out their twitter regarding the new wallet and Minecraft release: https://twitter.com/enjin?lang=en XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 10 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). XVG has added servers every day for the last 3 in anticipation of how big Wraith will be. A coin would not be prepping like this if it was the disaster rumor that spread like wildfire causing a 50% price decline in 1 hour, 2 days ago. By the time you are reading this post it may unfortunately be too late. There is speculation Wraith may be released in the morning. XVG has promised WRAITH will be released by the end of this year, it should hit $.50-$1 range when it does. Wraith allows the individual user to determine if they want their balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. Verge lets each user determine whether to be, public or private, this will revolutionize blockchian and altcoins. The freedom to choose is where the value exists. Choice, freedom, they are priceless, even on the blockchain. If you want to see the impressive link for the Wraith ad here it is: https://youtu.be/dMrk6rozbJg

ICX, had a very solid day recovering from poor mainnet news. The Koreans love this little coin so much it is hosting its first blockchain conference in the tallest building in Seoul next month. ICX was supposed to have their mainnet launch this week but in a cleverly written post, delayed it 3 weeks but announced in doing so they would hold a huge blockchain conference, in the tallest building in Seoul, on January 25th. This will be enormous exposure for a coin which Koreans are already in love with. Although the delay was not preferable in my opinion it does clearly show their ambition in hosting a significant conference and releasing the mainnet simultaneously. Following the fork I believe many Koreans will decide to buy back into their favorite alt.

STRAT is going to have an amazing week (it already has!). They promised that by January, “I can confirm they will be able to host ICO’s on our blockchain agnostic platform this year.” STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. Would anyone like to know the going rate of an ICO? 20–40BTC. Per ICO these small companies and their coin holders are making $250k-$600k at the current BTC prices. This is a very big business. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network in January. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT.

ARDR’s platform launches Jan 1st. Ardor’s blockchain becomes fully operational Jan 1st., and the Genesis snapshot is announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. With a new platform and coins to be used on it this will be a positive week for ARDR with exceptionally high returns correlated with the new platform and IGNIS’s continued appreciation.

XEM has been quiet but is about to make a lot of noise. Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Following Catapult is a 4-week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network. XEM will have a pop this week when Catapult goes live, followed by a 4-week awareness rally driven by a worldwide hackathon. I expect significant $ to flow into XEM with the hackathon exposure immediately following the 2nd fork, especially with Catapult launching.

Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 3 address to help provide my girlfriend with presents so I can spend more time researching! What is 5% of the 200% I earned you this week? (NXT, XVG, MCO, PAY, EMC2, STRAT, ICX, BURST)

ETH: Address: 0x955A1a68613C028Ea98b0b5dcC58901897EB90DB LTC Address: LSnEW1h1bZwFH67s9tXZVX2GCZHNmzFGVN BTC address: 1GKPSkohnt9pSgBnXRmn2SejQNPWD96qif

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick!

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

I appreciate all my loyal followers! For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/JfkWfUy(join the group to reach me directly and see posts early!). If the title is a foreign language to you read my Cryto-101 post and let’s go from there: https://redd.it/7m48ne Remember in trading minutes matter, hours are eternities.

We are only on day 3 of the KuCoin picks and yesterday’s is already up 50–70% depending on when you got in. DRGN is the brainchild of Disney, until the coin is traded on Binance and Bittrex I see it continuing to appreciate in value. However, that was yesterday’s pick! (Day 2 Pick: DRGN).

2 days ago the pick was KCS, also up 15%. As we all cumulatively trade more on KuCoin inherently the value of the underlying exchanges coin, the KCS, will appreciate. More traders, more volume, more daily picks, make it clear the KuCoin exchange will only continue to get more popular (Day 1 Pick: KCS).

Moon Shot Pick 3 on KuCoin: BNTY Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M

Ahhh here we are on day 3 after a successful day 1 and 2. Although we haven’t “mooned” we have made some serious % returns. Even with other alts crashing and BTC going sideways. I expect DRGN to truly moon when it hits new exchanges and once Disney starts advertising it. However, that was yesterday. Today the pick is BNTY!

BNTY is a pretty amazing coin. They are digital Bounty Hunters (I’m serious) and it’s ingenious! They put out bounties associated with accomplishing tasks on the internet, specific tasks, locating hackers, think Dog the Bounty Hunter for the internet domain. With a total market cap of $18million and KuCoin being the biggest exchange that trades it, BNTY has significant room for appreciation. They already have a bounty out for a recent hack and for an ICO to be launched months ago and to have a functioning platform this early is very impressive.

I think BNTY can easily hit a market cap of $30million prior to hitting exchanges like Binance and Bittrex. Once it hits these bigger exchanges I would expect it to slowly approach a market cap of $100million (over the course of 4 months). That will be a 600% return if BNTY reaches a market cap of $100million while you are holding it. This type of appreciation is standard for a “mature” ICO after the course of 4–6 months. BNTY seems to have a bright future creating “bounties” for a broad range of online tasks while also only being listed on extremely small exchanges. This provides us the opportunity to scoop up underpriced shares before BNTY hits large exchanges! December 29th, 72hrs ago the market cap was almost 100% higher than it is now. BNTY can move 100% every few days. I’d get in now that it is 50% down from 3 days ago and is projected to hit other exchanges this month. Moon.

BNTY, DRGN and KCS are my favorites for KuCoin. KCS as KuCoin becomes larger as an exchange, DRGN due to it being the brainchild of Disney, and BNTY because of its ingenious program. I am involved in all 3. Make sure to use my link! https://www.kucoin.com/#/?r=1cH1M

One of my favorite ICOs of the year finished (Covesting), within 2 days of providing you guys the opportunity to get involved. However, due to 100s of emails looking for a new ICO I spent my Saturday night researching them.

STORIQA: I found the “Amazon of crypto marketplaces”: STORIQA. It has the most impressive advisors I’ve seen in a long time! This is key for early adoption among the community and when planning the likelihood of being chosen for a high caliber exchange. The price point is at $.005 per coin (price goes up soon), so at a 1 penny price point, ICO investors make 100% returns. 2 pennies mean you make a 300% return. I see Storiqa being priced between 2 and 5 pennies by the time it hits exchanges, based on the platform and advisors. If there is early adoption of their web platform (Amazon for crypto purchases) $1 would not be out of question in 6–12 months. That would be a 200x profit. ICOs are the chance for real moon opportunities prior to the general public being able to trade the coin, or really know about the technology. Get in early while you still have a 20% bonus, the hard cap will be reached soon! If interested in purchasing this ICO please use my link: https://tokensale.storiqa.com/?ref=6663944dff31989391d803ce-

Crypterium — The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The ICO is also ending very soon! The bonus period ends in 1 day so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/ref=4a5381543424516aa2b4e3a6

So if you are a daily follower you know my current favorite Buy and Holds…Some of this information has been stated previously.

Lowest Risk, Favorite Play: STRAT (info below)

IGNIS, the future value of the NXT airdropped token spiked to over $20 per coin yesterday. Today it is hovering around $12 but at a price point of $10, each NXT holder will have made 300–400%. Let’s hope IGNIS maintains a strong future price moving forward. With the new ARDR network I see IGNIS being worth much more than expected, $17 may be a bit high, but $10 is still a 400% gain in very minimal time.

ADX, is a favorite of mine for multiple reasons. They have yet to appreciate significantly following the second fork yesterday morning (while most alts have recovered 20+%). They have a profitable platform already for coin holders. This is essential for every coin. Without a platform for a functioning coin, the coin is just unique code using up electricity. ADX advertised space on EasyJet boarding passes successfully last month and now is selling over 1 million more advertising spaces. This is a profitable coin with a strong future already occurring. Did I mention they have news coming out this week, right after the 2nd fork. If I were to bet, I’d say a good amount of the BTC $$ will flow toward alts with upcoming news. ADX will have a port to NEO by the end of the month, also very important news. ADX wins because NEO wins, Asian markets enjoy trading even more than the U.S. currently, their favorites will be flooded with their BTC funds ADX and NEO are big favorites of mine for the week(ICX too). ADX can be traded on Binance.

NEO, has meetups in Dublin, Hamburg, Amsterdam, and London the first two weeks of January. The exposure immediately following the 2nd fork when funds are freed up from BTC will be important and NEO is hosting the largest event of the week in one of the biggest blockchain cities in the world, immediately following the 2nd fork. Want to guess where the Asian market is going to put their profit from BTC this last week? Everyone sees the upcoming calendar and realizes the next 2 months will provide more exposure than any 12-month period in crypto history. The King shall have a Crypto Kingdom . NEO is the latest addition to the buy and HOLD list with some of your BURST proceeds!

PAY, Although their Christmas news was underwhelming they are having their worldwide card rollout January 1st. I believe they have a strong platform and an upcoming rollout which is why they should directly benefit from funds being transferred from BTC back to alts. This is a very important coin to watch circa Jan 1st.

ENJ, By January 1st, they are coming out with a Minecraft Plugin and Digital Wallet for your phone. The coin is a token designed specifically for gaming with a Minecraft Plugin and Digital Wallet being completed this week. They are also running a promotion giving away free ENJ on the Minecraft platform to get users involved. What could be a better boost to your coin value than a working Minecraft Plugin and a brand new wallet? ENJ I expect big things from you this week. The fork and news this week should diver a lot of $$ from BTC to alts like ENJ specifically. Check out their twitter regarding the new wallet and Minecraft release: https://twitter.com/enjin?lang=en XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 10 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). XVG has added servers every day for the last 3 in anticipation of how big Wraith will be. A coin would not be prepping like this if it was the disaster rumor that spread like wildfire causing a 50% price decline in 1 hour, 2 days ago. By the time you are reading this post it may unfortunately be too late. There is speculation Wraith may be released in the morning. XVG has promised WRAITH will be released by the end of this year, it should hit $.50-$1 range when it does. Wraith allows the individual user to determine if they want their balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. Verge lets each user determine whether to be, public or private, this will revolutionize blockchian and altcoins. The freedom to choose is where the value exists. Choice, freedom, they are priceless, even on the blockchain. If you want to see the impressive link for the Wraith ad here it is: https://youtu.be/dMrk6rozbJg

ICX, had a very solid day recovering from poor mainnet news. The Koreans love this little coin so much it is hosting its first blockchain conference in the tallest building in Seoul next month. ICX was supposed to have their mainnet launch this week but in a cleverly written post, delayed it 3 weeks but announced in doing so they would hold a huge blockchain conference, in the tallest building in Seoul, on January 25th. This will be enormous exposure for a coin which Koreans are already in love with. Although the delay was not preferable in my opinion it does clearly show their ambition in hosting a significant conference and releasing the mainnet simultaneously. Following the fork I believe many Koreans will decide to buy back into their favorite alt.

STRAT is going to have an amazing week (it already has!). They promised that by January, “I can confirm they will be able to host ICO’s on our blockchain agnostic platform this year.” STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. Would anyone like to know the going rate of an ICO? 20–40BTC. Per ICO these small companies and their coin holders are making $250k-$600k at the current BTC prices. This is a very big business. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network in January. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT.

ARDR’s platform launches Jan 1st. Ardor’s blockchain becomes fully operational Jan 1st., and the Genesis snapshot is announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. With a new platform and coins to be used on it this will be a positive week for ARDR with exceptionally high returns correlated with the new platform and IGNIS’s continued appreciation.

XEM has been quiet but is about to make a lot of noise. Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Following Catapult is a 4-week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network. XEM will have a pop this week when Catapult goes live, followed by a 4-week awareness rally driven by a worldwide hackathon. I expect significant $ to flow into XEM with the hackathon exposure immediately following the 2nd fork, especially with Catapult launching.

Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 3 address to help provide my girlfriend with presents so I can spend more time researching! What is 5% of the 200% I earned you this week? (NXT, XVG, MCO, PAY, EMC2, STRAT, ICX, BURST)

ETH: Address: 0x955A1a68613C028Ea98b0b5dcC58901897EB90DB LTC Address: LSnEW1h1bZwFH67s9tXZVX2GCZHNmzFGVN BTC address: 1GKPSkohnt9pSgBnXRmn2SejQNPWD96qif

Introducing the Arctic Ether token-node system

The Arctic Ether token-node system was devised by the designers and creators of AETHER to both help the token have relative low-volatility price action on the market and create a demand from global users to own and hold the token.

How does it work?

The AETHER token-node system (TN’s) works through a smart contract that receives, holds and pays out AETHERS completely autonomous. The most basic explanation would be that it is a sort of ‘vault’ with its own gatekeeper that manages the vault and everything therein.

Users simply sends a minimum of 50,000 AETHERS to the contract to get their node up and running and does not have to keep their computer online to keep their node active. The Arctic Ether’s are then frozen for any usage from the user during a set period of weeks that is determined by the user — except for voting on proposals which can be managed remotely through a users SCCEX account.

The node’s work with a fixed price and ROI percentage — meaning a user cannot for example lock-in 60,000 AETHERS for any increased profits, but need to have 100,000 AETHERS and issue two different nodes to get multiple streams of AETHER.

The perks of running a token-node

The standard token price without any bonuses during our ICO is 1 ETH gives 3000 AETHERS, giving a estimated initial deployment price of approximately 16.7 ETH.

If a user want to start a node for themselves they will receive AETHER payouts directly to their independent Ethereum wallet (which are not frozen) taken from the fee’s that our merchant solution services take to operate, currently we are looking on creating a weekly ROI of 0.5% for TN’s (giving one node payouts of 250 AETHER‘S per week). Out of the 13 million AETHER tokens that the core developer team holds, a amount of 5 million will be used to cover the cost in those cases when the earnings from the merchant solutions are not sufficient.

More information about the Arctic Ether token-node and its features is coming soon directly to the www.aethers.tech website. For more information about our company and operations that fuel AETHER visit www.sccex.io.



Introducing the Arctic Ether token-node system was originally published in Scandinavian Cryptocurrency Exchange on Medium, where people are continuing the conversation by highlighting and responding to this story.

Introducing the Arctic Ether token-node system

The Arctic Ether token-node system was devised by the designers and creators of AETHER to both help the token have relative low-volatility price action on the market and create a demand from global users to own and hold the token.

How does it work?

The AETHER token-node system (TN’s) works through a smart contract that receives, holds and pays out AETHERS completely autonomous. The most basic explanation would be that it is a sort of ‘vault’ with its own gatekeeper that manages the vault and everything therein.

Users simply sends a minimum of 50,000 AETHERS to the contract to get their node up and running and does not have to keep their computer online to keep their node active. The Arctic Ether’s are then frozen for any usage from the user during a set period of weeks that is determined by the user — except for voting on proposals which can be managed remotely through a users SCCEX account.

The node’s work with a fixed price and ROI percentage — meaning a user cannot for example lock-in 60,000 AETHERS for any increased profits, but need to have 100,000 AETHERS and issue two different nodes to get multiple streams of AETHER.

The perks of running a token-node

The standard token price without any bonuses during our ICO is 1 ETH gives 3000 AETHERS, giving a estimated initial deployment price of approximately 16.7 ETH.

If a user want to start a node for themselves they will receive AETHER payouts directly to their independent Ethereum wallet (which are not frozen) taken from the fee’s that our merchant solution services take to operate, currently we are looking on creating a weekly ROI of 0.5% for TN’s (giving one node payouts of 250 AETHER‘S per week). Out of the 13 million AETHER tokens that the core developer team holds, a amount of 5 million will be used to cover the cost in those cases when the earnings from the merchant solutions are not sufficient.

More information about the Arctic Ether token-node and its features is coming soon directly to the www.aethers.tech website. For more information about our company and operations that fuel AETHER visit www.sccex.io.



Introducing the Arctic Ether token-node system was originally published in Scandinavian Cryptocurrency Exchange on Medium, where people are continuing the conversation by highlighting and responding to this story.

Introducing the Arctic Ether token-node system

The Arctic Ether token-node system was devised by the designers and creators of AETHER to both help the token have relative low-volatility price action on the market and create a demand from global users to own and hold the token.

How does it work?

The AETHER token-node system (TN’s) works through a smart contract that receives, holds and pays out AETHERS completely autonomous. The most basic explanation would be that it is a sort of ‘vault’ with its own gatekeeper that manages the vault and everything therein.

Users simply sends a minimum of 50,000 AETHERS to the contract to get their node up and running and does not have to keep their computer online to keep their node active. The Arctic Ether’s are then frozen for any usage from the user during a set period of weeks that is determined by the user — except for voting on proposals which can be managed remotely through a users SCCEX account.

The node’s work with a fixed price and ROI percentage — meaning a user cannot for example lock-in 60,000 AETHERS for any increased profits, but need to have 100,000 AETHERS and issue two different nodes to get multiple streams of AETHER.

The perks of running a token-node

The standard token price without any bonuses during our ICO is 1 ETH gives 3000 AETHERS, giving a estimated initial deployment price of approximately 16.7 ETH.

If a user want to start a node for themselves they will receive AETHER payouts directly to their independent Ethereum wallet (which are not frozen) taken from the fee’s that our merchant solution services take to operate, currently we are looking on creating a weekly ROI of 0.5% for TN’s (giving one node payouts of 250 AETHER‘S per week). Out of the 13 million AETHER tokens that the core developer team holds, a amount of 5 million will be used to cover the cost in those cases when the earnings from the merchant solutions are not sufficient.

More information about the Arctic Ether token-node and its features is coming soon directly to the www.aethers.tech website. For more information about our company and operations that fuel AETHER visit www.sccex.io.



Introducing the Arctic Ether token-node system was originally published in Scandinavian Cryptocurrency Exchange on Medium, where people are continuing the conversation by highlighting and responding to this story.

Make Your Tax Free Trades Now


Image courtesy of Pixabay

Obligatory Disclaimer: I am NOT a financial or tax advisor, and none of this advice should be taken without speaking to a qualified professional first. Further, do NOT invest more than you’re willing to lose, and do your own research first.

Whether or not you’re a fan of the newly passed US tax law is irrelevant — it is going radically to change the way US citizens participate in the world of cryptocurrency trading.

Previously, and under 2017 tax law, most cryptocurrency exchanges (not the platforms, the act of trading crypto) were tax-deferred under what’s called a 1031 exchange. Many in the crypto-world were able to take advantage of undefined and somewhat controversial tax laws, only paying capital gains tax once they “cashed out” into USD. The 2018 tax law clearly lays out that this will no longer be an option.

As of January 1, 2018, any crypto trade is taxable. Practically speaking, here’s how that works out, from what I understand (obviously DYOR and make your own assumptions):

  • You send some Decred to ShapeShift.io in exchange for Bitcoin. This transaction is now taxed.
  • You make a trade on Binance exchange to purchase some Ripple using Bitcoin. This, and all other trades made on an exchange is now taxed.
  • You decide to take advantage of an atomic swap — this is also taxable.
  • You decide to buy and sell CryptoKitties — this is now taxable.
  • You want to cash out some earnings on an altcoin, so you sell for Bitcoin. As mentioned above, this is taxable. Then, you sell for fiat on Coinbase. This, unfortunately, is also taxable, meaning cashing out an altcoin into fiat can cause double-taxation.

So what does all this mean? From my perspective, it feels like the US government is trying to tax all of the honest people out of crypto. I believe this is most likely due to the fact that regulators are unaware of the extreme good that’s come about from crypto, specifically for millennials.

For instance, Steven McKie’s story is a compelling one. A first generation college student, McKie sometimes skipped meals to put funds into cryptocurrency investments. Now, he’s a major personality in the crypto-space. But consider how difficult it would have been for McKie, a millennial working his way through college, to profit off of initial gains if he were being taxed on every transaction?

Another problem with this new plan is that companies like Shapeshift could potentially get taxed out of existence. While they generously don’t charge a fee for service, literally every transaction that takes place on their exchange will be subject to US capital gains taxes beginning January 1. There is little Shapeshift can do to alleviate this new burden. It will take the creativity and ingenuity of the entire community to come up with a new (and legal) way of making smaller crypto trades (the sort Shapeshift supports) profitable enough to account for taxes.

Further, crypto-trading just got a lot more complicated. In our effort to make crypto mainstream, this is the last thing we need. I believe would be wise for all of us to keep detailed logs of all of our trade histories on every exchange we use (yes…this includes CryptoKitties) — should the IRS come knocking, these logs will be our only proof of legitimacy.

Finally, regulators most likely haven’t thought through the consequences of these new restrictions (welcome to Capitol Hill). There are hundreds of new millionaires popping up regularly, thanks to crypto. There will be plenty of auditing to be done, should they wish to stick to their guns and enforce capital gains tax on every crypto transaction. How much more will these audits cost the taxpayers? I wonder if the benefit (for the government) will actually outweigh the costs (for the taxpayers).

All this to say, you have until 11:59pm on December 31 to get your trades in order before they are taxable. My plan is to make the trades I need before then, and hodl like I’ve never hodl’ed before. Tax is only levied on movement, so keep those hands strong!

All hope is not lost. The crypto-community is one of the most innovative sectors of which I’ve ever been a part. Mt. Gox, Silk Road, and China bans didn’t stop us, and by golly the Tax Plan of 2018 won’t stop us either.

If you know of any good resources for handling taxes under the new system, please put them in the comments below! Spreading awareness is the best way to strengthen our community.

If you haven’t invested in Bitcoin yet and you want to join the movement, the easiest way to begin is with Coinbase. Get $10 of free Bitcoin when you use this link — it’s my referral link — and get started now!

If you’d like to start using an exchange instead of Coinbase, Binance is a great place to start. Sign up here!

Make Your Tax Free Trades Now


Image courtesy of Pixabay

Obligatory Disclaimer: I am NOT a financial or tax advisor, and none of this advice should be taken without speaking to a qualified professional first. Further, do NOT invest more than you’re willing to lose, and do your own research first.

Whether or not you’re a fan of the newly passed US tax law is irrelevant — it is going radically to change the way US citizens participate in the world of cryptocurrency trading.

Previously, and under 2017 tax law, most cryptocurrency exchanges (not the platforms, the act of trading crypto) were tax-deferred under what’s called a 1031 exchange. Many in the crypto-world were able to take advantage of undefined and somewhat controversial tax laws, only paying capital gains tax once they “cashed out” into USD. The 2018 tax law clearly lays out that this will no longer be an option.

As of January 1, 2018, any crypto trade is taxable. Practically speaking, here’s how that works out, from what I understand (obviously DYOR and make your own assumptions):

  • You send some Decred to ShapeShift.io in exchange for Bitcoin. This transaction is now taxed.
  • You make a trade on Binance exchange to purchase some Ripple using Bitcoin. This, and all other trades made on an exchange is now taxed.
  • You decide to take advantage of an atomic swap — this is also taxable.
  • You decide to buy and sell CryptoKitties — this is now taxable.
  • You want to cash out some earnings on an altcoin, so you sell for Bitcoin. As mentioned above, this is taxable. Then, you sell for fiat on Coinbase. This, unfortunately, is also taxable, meaning cashing out an altcoin into fiat can cause double-taxation.

So what does all this mean? From my perspective, it feels like the US government is trying to tax all of the honest people out of crypto. I believe this is most likely due to the fact that regulators are unaware of the extreme good that’s come about from crypto, specifically for millennials.

For instance, Steven McKie’s story is a compelling one. A first generation college student, McKie sometimes skipped meals to put funds into cryptocurrency investments. Now, he’s a major personality in the crypto-space. But consider how difficult it would have been for McKie, a millennial working his way through college, to profit off of initial gains if he were being taxed on every transaction?

Another problem with this new plan is that companies like Shapeshift could potentially get taxed out of existence. While they generously don’t charge a fee for service, literally every transaction that takes place on their exchange will be subject to US capital gains taxes beginning January 1. There is little Shapeshift can do to alleviate this new burden. It will take the creativity and ingenuity of the entire community to come up with a new (and legal) way of making smaller crypto trades (the sort Shapeshift supports) profitable enough to account for taxes.

Further, crypto-trading just got a lot more complicated. In our effort to make crypto mainstream, this is the last thing we need. I believe would be wise for all of us to keep detailed logs of all of our trade histories on every exchange we use (yes…this includes CryptoKitties) — should the IRS come knocking, these logs will be our only proof of legitimacy.

Finally, regulators most likely haven’t thought through the consequences of these new restrictions (welcome to Capitol Hill). There are hundreds of new millionaires popping up regularly, thanks to crypto. There will be plenty of auditing to be done, should they wish to stick to their guns and enforce capital gains tax on every crypto transaction. How much more will these audits cost the taxpayers? I wonder if the benefit (for the government) will actually outweigh the costs (for the taxpayers).

All this to say, you have until 11:59pm on December 31 to get your trades in order before they are taxable. My plan is to make the trades I need before then, and hodl like I’ve never hodl’ed before. Tax is only levied on movement, so keep those hands strong!

All hope is not lost. The crypto-community is one of the most innovative sectors of which I’ve ever been a part. Mt. Gox, Silk Road, and China bans didn’t stop us, and by golly the Tax Plan of 2018 won’t stop us either.

If you know of any good resources for handling taxes under the new system, please put them in the comments below! Spreading awareness is the best way to strengthen our community.

If you haven’t invested in Bitcoin yet and you want to join the movement, the easiest way to begin is with Coinbase. Get $10 of free Bitcoin when you use this link — it’s my referral link — and get started now!

If you’d like to start using an exchange instead of Coinbase, Binance is a great place to start. Sign up here!

Схема развития проекта Loci

Проект Loci разработан с использованием блокчейн технологии с целью революционизирования процесса изобретения, защиты интеллектуальных прав новаторов и продвижения инноваций на новый уровень.

Руководство платформы InnVenn представляют опытные профессионалы: Джон Уайз (John Wise), Эрик Росс (Eric Ross), Брайан Хван (Brian Hwang), Харджит Сингх (Harjit Singh). Им помогают разработчики и консультанты, на протяжении многих лет привносящие свои идеи в развитие и успешную реализацию проекта.

Специалисты трудятся над проектом LOCI с 2008 года. Именно тогда началась работа над изучением системы, формированием четкого плана над реализацией платформы, ее усовершенствованием и международной экспансией. На протяжении девяти лет было достигнуто множество положительных результатов:

• создание платформы;

• получение патента;

• выпуск InnVenn v1.0;

• начало предпродаж SAFT;

• начало продаж токенов.

До конца 2018 года планируется заключить стратегические партнерства с сообществами изобретателей и с ИС организациями, популяризировать платформу InnVenn и произвести выпуск Innvenn v3.0.

Выпуск и продажа токенов LOCIcoin позволит направлять 40 % капитала на разработку продукта. Фонд Loci облегчит приобретение изобретений и выдачу патентов. В случае обнаружения ошибок в каком-либо продукте Loci, фонд будет вознаграждать участников за выявление уязвимости системы с целью ликвидации ошибки.

Официальный сайт: https://locipro.com

White paper: https://locipro.com/whitepaper

Facebook: https://www.facebook.com/Loci.InnVenn/

Twitter: http://www.twitter.com/loci_io

Мой профиль bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1210345

Схема развития проекта Loci

Проект Loci разработан с использованием блокчейн технологии с целью революционизирования процесса изобретения, защиты интеллектуальных прав новаторов и продвижения инноваций на новый уровень.

Руководство платформы InnVenn представляют опытные профессионалы: Джон Уайз (John Wise), Эрик Росс (Eric Ross), Брайан Хван (Brian Hwang), Харджит Сингх (Harjit Singh). Им помогают разработчики и консультанты, на протяжении многих лет привносящие свои идеи в развитие и успешную реализацию проекта.

Специалисты трудятся над проектом LOCI с 2008 года. Именно тогда началась работа над изучением системы, формированием четкого плана над реализацией платформы, ее усовершенствованием и международной экспансией. На протяжении девяти лет было достигнуто множество положительных результатов:

• создание платформы;

• получение патента;

• выпуск InnVenn v1.0;

• начало предпродаж SAFT;

• начало продаж токенов.

До конца 2018 года планируется заключить стратегические партнерства с сообществами изобретателей и с ИС организациями, популяризировать платформу InnVenn и произвести выпуск Innvenn v3.0.

Выпуск и продажа токенов LOCIcoin позволит направлять 40 % капитала на разработку продукта. Фонд Loci облегчит приобретение изобретений и выдачу патентов. В случае обнаружения ошибок в каком-либо продукте Loci, фонд будет вознаграждать участников за выявление уязвимости системы с целью ликвидации ошибки.

Официальный сайт: https://locipro.com

White paper: https://locipro.com/whitepaper

Facebook: https://www.facebook.com/Loci.InnVenn/

Twitter: http://www.twitter.com/loci_io

Мой профиль bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1210345

The BANKEX Foundation


https://bankex.com

What is the BANKEX foundation?

BANKEX foundation is a self-regulated non-commercial organization running with a group of members who are actively serving to develop smart contracts for newly updated product instances and Smart Assets formed through its participation. This foundation employs Blockchain technology experts, product experts, specialist programmers, and product providers. This foundation acts as a crucial element in the context of the BANKEX protocol and most importantly it is a non-profit organization. This also enables the coordination of several other systems to the main body.

A different aspect

People have been paying attention to the processes and technologies involved with BANKEX, but only a very limited sector has pointed out on the systems which have been designed to solve issues. When developing prototypes relevant to different Smart Assets in the BANKEX lab, the experts have run to different clients from different nations visiting them to tokenize their assets through the ICO mechanism. It should be noted that issuing a client their own coin is unsuccessful on behalf of the assets adding up to the real sector within the economy. Nonetheless, the demand and the inevitability to tokenize client assets seem to be quite trending.

The experts have suggested the system of Smart Asset emission as the pilot projects were approved at the BANKEX lab. Assets derived through this procedure will be set for the ISAO (Initial Smart Asset Offering) within a well-defined ecosystem (Proof-of-asset protocol). It is quite convincing to know that most of these plans had been turned out by the experts working on the protocol. They believe that there is not much potential for them to provide the companies with an option to tokenize regardless of the mediator effector played for the Smart Asset.

An effective solution

Team BANKEX expects to receive more and more of similar requests as the business tick the notes. It should be noted that most of these requests will flow in from assets or businesses suggesting the fact that these will be originators without token assets. Right now the BANKEX lab is receiving similar requests, but they are planned to be diverted to multiple product owners within the ecosystem. They will go on to process the requests which have the potential to be tokenized developing product instances. Similarly, they will reject requests flowing in. It is not very important to analyze the reason for rejection in this context.

Intervention of the BANKEX foundation

Requests which are flowing in to tokenize new types of assets will be addressed by the acting product owners at the BANKEX foundation. It is important to analyze through which the BANKEX foundation links the actions involved

The Asset Community

From the point at which the request for a Smart Asset pops in from the market, it should be noted that there may be certain people or groups of people who have been tagged as pioneers for the product. These are the individuals who will eventually create a new form of Smart Asset leading to the formation of a product community within the BANKEX foundation. This point onwards, the product community is in charge of the business development part of the mentioned Smart Asset. The individual who initiates the requested will eventually become the founder of the Asset community. These types of communities are liver nerve of the ecosystem as it performs two important functions- providing evidence for Proof-of-Asset and product expertise in the context of Smart Real disputes.

It isn’t a must to claim for identification of individual members within the Asset Community as they only contribute with their experience and knowledge to the ecosystem.

Foundation Community

This is the community formed by the intervention of business developers and programmers, who have developed interest towards decentralized Blockchain Service Architecture. They responsible for developing revolutionary Smart Contract chains aimed at different No token assets.

It is equally important to analyze the significance of New Smart Asset Type which is an initiation ready program. This code is being developed by third-party experts who belong to the platforms of the foundation community, asset community, and the BANKEX lab. The BANKEX Smart Asset Certification Center guarantees on the quality of this code and the community growth has been assured by this code.


https://bankex.com

The BANKEX Foundation


https://bankex.com

What is the BANKEX foundation?

BANKEX foundation is a self-regulated non-commercial organization running with a group of members who are actively serving to develop smart contracts for newly updated product instances and Smart Assets formed through its participation. This foundation employs Blockchain technology experts, product experts, specialist programmers, and product providers. This foundation acts as a crucial element in the context of the BANKEX protocol and most importantly it is a non-profit organization. This also enables the coordination of several other systems to the main body.

A different aspect

People have been paying attention to the processes and technologies involved with BANKEX, but only a very limited sector has pointed out on the systems which have been designed to solve issues. When developing prototypes relevant to different Smart Assets in the BANKEX lab, the experts have run to different clients from different nations visiting them to tokenize their assets through the ICO mechanism. It should be noted that issuing a client their own coin is unsuccessful on behalf of the assets adding up to the real sector within the economy. Nonetheless, the demand and the inevitability to tokenize client assets seem to be quite trending.

The experts have suggested the system of Smart Asset emission as the pilot projects were approved at the BANKEX lab. Assets derived through this procedure will be set for the ISAO (Initial Smart Asset Offering) within a well-defined ecosystem (Proof-of-asset protocol). It is quite convincing to know that most of these plans had been turned out by the experts working on the protocol. They believe that there is not much potential for them to provide the companies with an option to tokenize regardless of the mediator effector played for the Smart Asset.

An effective solution

Team BANKEX expects to receive more and more of similar requests as the business tick the notes. It should be noted that most of these requests will flow in from assets or businesses suggesting the fact that these will be originators without token assets. Right now the BANKEX lab is receiving similar requests, but they are planned to be diverted to multiple product owners within the ecosystem. They will go on to process the requests which have the potential to be tokenized developing product instances. Similarly, they will reject requests flowing in. It is not very important to analyze the reason for rejection in this context.

Intervention of the BANKEX foundation

Requests which are flowing in to tokenize new types of assets will be addressed by the acting product owners at the BANKEX foundation. It is important to analyze through which the BANKEX foundation links the actions involved

The Asset Community

From the point at which the request for a Smart Asset pops in from the market, it should be noted that there may be certain people or groups of people who have been tagged as pioneers for the product. These are the individuals who will eventually create a new form of Smart Asset leading to the formation of a product community within the BANKEX foundation. This point onwards, the product community is in charge of the business development part of the mentioned Smart Asset. The individual who initiates the requested will eventually become the founder of the Asset community. These types of communities are liver nerve of the ecosystem as it performs two important functions- providing evidence for Proof-of-Asset and product expertise in the context of Smart Real disputes.

It isn’t a must to claim for identification of individual members within the Asset Community as they only contribute with their experience and knowledge to the ecosystem.

Foundation Community

This is the community formed by the intervention of business developers and programmers, who have developed interest towards decentralized Blockchain Service Architecture. They responsible for developing revolutionary Smart Contract chains aimed at different No token assets.

It is equally important to analyze the significance of New Smart Asset Type which is an initiation ready program. This code is being developed by third-party experts who belong to the platforms of the foundation community, asset community, and the BANKEX lab. The BANKEX Smart Asset Certification Center guarantees on the quality of this code and the community growth has been assured by this code.


https://bankex.com

Investing Small and Winning Big

Cryptocurrencies make early stage investing possible for anyone.

If you’re sitting on the sidelines hoping that it’s all just a bubble because the FOMO hurts so much you want it to fail! You’re not alone.

But it’s also not too late.

While it’s growing, less than 1% of the world is involved in cryptocurrencies and blockchain asset investing.

The growth of the technology is still growing and being applied to new use cases every day.

Remember when they said Apple’s and Amazons growth was a bubble?

Before cryptocurrencies and blockchain assets, returns of ten times or a hundred times an investment were only accessible to high net-worth private investors and venture capitalists. Now the geeks and nerds are getting rich with $50, $500 or +$5,000 investments.


CB Insights — Top 25 VC Backed Exits

The geeks and nerds will inherit the world!

I personally know a guy that invested a few $1,000 in NXT in 2013/14 and made a few million. AND a girl who invested $100 at the start of December and now has +$2,000 for a holiday.

+15,000% return have happened in the blockchain asset and cryptocurrency space. (Check out ICO Stats)

Certainly, not everyone is going to have these results and that’s part of this reality.

The great thing is knowing that everyday people have access to the types of returns that VC’s received from early investments in Facebook or Google, if they are smart about it and understand that 80% of VC investments fail — though 20% win big.

Have Patience and A Long Term Vision

The market is volatile and if you’re not a seasoned trader, it will wreak havoc with your emotions. Which is why it’s best to take positions in projects you believe in, with money you can afford to lose and play the long game.

You want to look at different blockchain asset classes that have a chance of winning and diversify across them;

  1. Cryptocurrencies
  2. Blockchain Platforms
  3. Utility Tokens
  4. Security Tokens

Once you understand them, research the projects themselves until you feel comfortable with;

  • Does this coin/project have a purpose?
  • If so what?
  • Can they solve a real problem?
  • How good is their team?
  • How long have they been around?
  • How strong is their code base?
  • Do they have a road map?
  • Are they transparent?

Once you’re comfortable with the risk you are taking (the prospect that you could lose the money) and the reasons why your are investing ie. “This tech is going to change the world and this team will do it!”.

Then strap yourself in a hope for the moon.

Would you rather do what you do and have someone else invest spare change in cryptocurrencies.

The Bamboo app rounds up your spare change from the past month’s purchases and invests it in cryptocurrencies including Bitcoin, Ethereum, Litecoin and more. Check out GetBamboo.io.

If you’d like to know more about bitcoin, ethereum and litecoin, check out;

What is Bitcoin?

What is Ethereum?

What is Litecoin?



Investing Small and Winning Big was originally published in Bamboo Blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.

Nebulas (NAS) ICO Analysis: A Decentralized Search Engine For The Blockchain

Executive Summary

Project Description

Nebulas wants to create a search engine for blockchain applications and smart contracts. With it, users on the blockchain can easily search for, and find, whatever DApps they need. The Nebulas system will be self-evolving based on value incentive, and a ranking system, called Nebulas Rank, will be used to measure the value of users, smart contracts, and DApps. The ranking system will be based on liquidity, transaction frequency, scale, propagation, user growth, network quality (including viral transmission), and interoperability (including interaction with higher dimension information).

Nebulas will also have a Proof of Devotion system where users with a Nebulas Rank higher than a pre-set threshold can be a “bookkeeper” on the platform. Bookkeepers will be able generate blocks, and receive block rewards and transaction fees. To be a bookkeeper, a user has to deposit a security deposit, which is lost upon acting maliciously. Furthermore, developers whose smart contracts or DApps have a Nebulas Rank higher than a pre-set threshold will be rewarded by the Developer Incentive Protocol with NAS; these rewards will be recorded by the bookkeepers.

With the help of Nebulas Force, the Nebulas platform is self-evolving, meaning there is no need for a fork. Additionally, there is a governance system and users can vote on upgrades for the main chain. Various other sub-chains are also created to activate core technical solutions and upgrades.

Nebulas’ token, NAS, will serve as a means of exchange between chains on the platform. It will also serve as the currency of use, e.g. to deposit the security amount, for voting in the governance system, and for rewarding developers.

Hard Cap and Valuation

There will be a total of 100 million NAS, and Nebulas was able to raise $60m for 30% of the token total. The remaining 70% is shared thus: 10% is up for an initial funding round, 5% goes to Nebulas’ foundation, 35% is kept in the community reserve, and the final 20% is for the team and advisors.

The team tokens are on a 3-year vesting schedule, reducing the available supply after the sale to 80% of the total amount.

Important Dates

Pre-sale started on December 1, 2017 and ended on December 16, 2017

Marketing Power

As at the time this post was published, Nebulas had over 1200 Telegram users, 350+ users on Slack, over 800 Twitter followers, and over 45 subscribers on Medium. They also have 50+ subscribers on their YouTube page, over 20 Facebook subscribers, and over 15 Reddit readers.

Prominent Advisors

N/A

Well-Known Team Members

N/A

Howey’s Test

According to Howey’s Test conducted by our analysts, it is unlikely that Nebulas’ token NAS will be considered a security.

Team Members’ Areas of Expertise

Business experts

Hitters Xu, Founder.

  • Founder, and CEO of GemPay for over 2 years.
  • Founder of NEO blockchain.
  • Founder, and CEO of Netarget Info. Tech. for over 5 years.

Robin Zhong, Co-Founder.

Aero Wang, Co-Founder.

  • Founder of Antshares (NEO).

Target market experts

Hitters Xu

  • Founding Director, Ant Financial’s blockchain platform at Ant (now known as NEO) for 9 months.
  • GemPay also was a blockchain project.

Robin Zhong

  • Architecture of Blockchain Platform at Ant for 7 months.
  • Zhong gained some experience from his time at ABC Fintech, a startup focused on AI and blockchain.

Aero Wang

  • Experienced from his 2 years+ stay at Antshares (NEO).

Marketing experts

No team members with notable marketing experience.

Legal experts

Registered in Singapore as a foundation.

Software engineering experts

Robin Zhong

  • Senior Director of Engineering at MoboTap for 4 years.
  • VP, Cloud Computing Products at XMind for over 3 years.
  • CTO & Acting COO at BestPlus for a year.
  • SQA Engineer at Trend Micro for over 2 years.

Duran Liu, Head of Engineering.

  • Senior Software Engineer at Google for over 6 years.
  • Senior Software Engineer at FreeWheel for almost 2 years.
  • Software Engineer for over a year, and before that, Software Engineer Intern for a year at IBM.

Qi Zhu, Core Developer.

  • Engineering Manager for a year, and before that, Software Engineer for over a year at Airbnb.
  • Senior Software Engineer at Google for over 9 years.
  • Software Development Engineer at Microsoft Research Asia for 4 months.

Yang Li, Core Developer.

  • Senior Engineer at Genshuixue for a year.
  • Senior Engineer at MoboTap for 2 years.
  • Senior Software Engineer at Baozun for 2 years.

Larry Wang, Full Stack Developer.

  • Senior Software Development Engineer at Alibaba for over a year.
  • Senior Software Engineer and Project Lead at Edaijia for 2 years.
  • Development Engineer at MoboTap for over 2 years.

Shu Shang, Core Developer.

  • Dev Intern at Alibaba for 3 months, and at MoboTap for half a year.

Blockchain development experts

Robin Zhong, Co-Founder.

  • Architecture of Blockchain Platform at Ant (as mentioned above).
  • CTO at ABC Fintech (as mentioned above).

Token sale structure

Almost all the members of the Nebulas team have token sale experience from their time at Ant (NEO).

Token economics

In addition to the experience garnered from their time at Ant, some team members also worked on blockchain projects like Gempay and ABC Fintech. As a result, there is lots of token economics experience in the Nebulas team.

Disclaimers:

  • Nothing written in this article is a legal or an investment advice.
  • Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.

The analysis was produced by Research Center team members: Robin Davids, Mark Jedd, Eugene Tartakovsky.

We are constantly working on improving our work and welcome all constructive feedback. Let us know what you think.

Follow us to receive regular reports!



Nebulas (NAS) ICO Analysis: A Decentralized Search Engine For The Blockchain was originally published in Research Center Publication on Medium, where people are continuing the conversation by highlighting and responding to this story.

Bitmora stands for the People in the exchange Market


https://bitmora.com/

Progressive people always accept the New Concept. Bitmora brings us a new market that thinks for the people’s prosperity and working for progressive future. It starts new exchange platforms that not only exchange your currency but also stay beside you for ensuring your safe transaction in the exchange market. If a seller wants to sell his token in a fixed quoted price, then he needs to come in the BITMORA platform. Because they provide you the assurance for your cryptocurrency investment as well as they provide a platform with lots of trading facilities like a unique voting system. Not only that you will get business grade security for every transaction which cost a little amount in every deal or sell.

Why you should Join BITMORA ?

There are lots of features that will attract you in this exchange application (APP). In my own view point I find more interesting characteristics that must be change your thinking and take you towards investing in the BITMORA application for further progress. In below I discuss those points that will help you for your decision making purpose.

· For Transparency: It is very important features that all user want to maintain in his account. If there is no transparency maintains by the exchanger then the user will lose all his personal data as well as he will lose his confidential information. BITMORA will provide you the best opportunity that was not provided by any other exchanger before and ever. Now only BITMORA will give you this facility to download the transaction history from our website after the end of every month. After downloading your financial data you can see all the transaction history that you made. You can also see the fees list that already occurred in the last month. You can also know the information about those fees that you received from the others.

· For Legality: There are a bit of concern that will arise in everyone’s mind about the legality of BITMORA. Now I want inform you that, from my research about the legality of BITMORA I found that they already register their name in the C-Crop that is situated in the United State of America. As well they are MSB compliant with FinCEN in international market. I have already found that they strongly backed by some giant Bank in the financial market.

· For security: Security is the main issue for all the users how are engaged in this platform. In this stage there are high risks of fraud. Every time a large amount of user are entering in this market and trying to make easy money. So it is the responsibility for platform holder to ensure the security for their new enterns and for the exixting user how is going to establish a faith on them. As far as I know that they establish a large amount of cold storage in several places in the world and only the major team member will know that and will have the limited power of modification. So there are limited scopes of misuse the data. You will be very happy to know that BITMORA arranged a scheduled AUDIT work for protecting the data lose. They also ensure enterprise DDoS protection for protecting their information from any kind of threat. They also use different kind of access control system for protecting their client. They also arranged several kind of software that can help the BITMORA for ensuring more security for the user.

· For Support: Support is single word but it means a lot. Without any kind of support you cannot find the way. BITMORA stands beside you for supporting you. They not only support you but also assists you for your secure transaction and success in the token exchange market. They will highly ensure all the uncertainty that can cause you a several damage in your balance sheet. BITMORA maintain a team that always ready to provide you dedicative support 24/7 you want. This team will maintain by the highly skilled personnel how can assist them and will provide any sorts of advice they need in real time. So you ca ask any type of advice for your decision making. The team is scalable, so they will not compromise for your decision making. You will be happy to know that they starts a “quick ticket response” system which will not highly consume your time. BITMORA also provide for their user a live calling support in day or night when a customer or client want. This whole day support will provided after they start their journey.

· For Voting: BITMORA introduce a new innovative function where user will get privilege for voting on user suggestion. And if your vote win his suggestion you get the same privilege that he asked for. So BITMORA make you a Voter.

· For Connection: This is the era of modernization. We become smarter than previous. Now a days we use virtual devices everywhere mobile phone or tablet. We use our devices when we are walking, running, traveling and even swimming. So it is possible to get any good news or bad news any time when we are far away from our Personal computer or even we are in an activity. But it is true that we never forgot to bring our phone along with us in any condition. So BITMORA develop a platform that can used by your smart IOS or Android Phone when ever and where ever you want. This will synchronized your all activities you done by PC or Phone. They give you the flexibility of connection in their platform. By your device you can do transaction, monitor your investment and explore your ideas. They make the app very easy which can help the new investor to guide in easy method. They also put many high features that can used by you when you adopt them and become very skilled about user instruction for your effectivity.

· For Innovative Fees Structure: We all paid a big portion of our income as Fees. But I think those days comes in to an end. Because BIRMORA already introduced a revolutionary method of fees for the user. I personally like their concept and never seen this type of fees structure. It is really user friendly. You can choose two different method for your transaction. Fixed fees and Percentage base fees is the structure I am talking about. User can chose any one suitable for him in any transaction for the amount he like to trade. So you can find your best suitable fees method for your own benefit.

Finally, I want to say that BITMORA is overall a very excited user friendly Platform. New user and existing user both will get as same benefit from their views. I personally want to suggest you to join the BITMORA and enjoy their all facilities. I hope it will help you to prosper in future.

This comment is based on BIRMORA’s white paper. You may found it on the given link.

· Website: https://bitmora.com

· Whitepaper: https://bitmora.com/whitepaper

If you want to learn more about them and what people think, then please visit and subscribe the following sites.

· Facebook Page: https://www.facebook.com/bitmorainc

· Slack Page: https://bitmora.herokuapp.com

· Twitter Page: https://twitter.com/bitmora_inc

· Blog Page: https://medium.com/bitmora

· Bitcoin Forum Page: https://bitcointalk.org/index.php?topic=2499017

4 Things About Bitcoin Price Swings

Understanding Crypto Currency Volatility

We want to provide a high level introduction, bare bones and at times quite crude overview of Bitcoin price volatility.


VIAS Science Cartoons

In the early days of cryptocurrencies the swings in price were at their highest peaks and lows. Now we see this start to settle. The majority of these swings happened in the early days of exchanges because there wasn’t enough orders (buys and sells).

When there is a big book of orders — there is always an order that will meet somebody else at more levels (price points) of the market. When the book has less orders prices can move drastically between points where people are willing to buy and sell.

This post is intended for those new to the cryptocurrency space, and who are looking for a high-level explanation of bitcoin and associated technologies. For readers who are already familiar with the basics and want to know more about bitcoin and other cryptocurrencies, we’d recommend the Princeton Bitcoin Book or Blockchain at Berkeley to start.

Here are 4 Things You Need to Know About Bitcoin Volatility Specifically.

Summarised from cryptocompare’s article on Bitcoin Volatility.

1. Bitcoin is the least volatile of the cryptocurrencies.

Bitcoin is definitely the most liquid coin on the market as it has the greatest depth in it’s order books on exchanges (the most orders of buys and sells).

A big trade ($$’s) will have a smaller price impact on the bitcoin price compared to smaller coins.

2. High volatility most commonly comes with lots of trades and price drops.

It seems obvious though when lots of people are trading a currency it usually coincides with a price drop. When people panic and a book fills with sell orders with everyone trying to sell.

When people freakout from price movements — it usually happens in large groups if there isn’t a clear understanding of what has been invested in. It’s usually the investors with the least knowledge that freak out the most.

3. Bitcoin price moves together with other cryptoassets.

As bitcoin is the main way to buy other currencies. Most people will buy and trade bitcoin in order to move the dollar of their country into crypto assets. Bitcoin trade boosts other currencies because it has become the standard way to move between cryptocurrencies.

Check the matrix below comparing Cryptocurrencies to the USD.

4. Bitcoin can match the volatility of traditional currencies

In 2016 comparing the US dollar bitcoins volatility was getting close to matching traditional currencies.


2016 USD Statistics

Would you rather do what you do and have someone else invest your spare change in Cryptoassets securely?

Bamboo rounds up your spare change from the past month’s purchases and invests it in cryptocurrencies including Bitcoin, Ethereum, Litecoin and more. Check out GetBamboo.io.

If you’d like to know more about bitcoin, ethereum and litecoin, check out;

What is Bitcoin?

What is Ethereum?

What is Litecoin?



4 Things About Bitcoin Price Swings was originally published in Bamboo Blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.

What In The WAX Is That? Review & ICO

When it comes to online technologies there are a few major industries that drive the majority of innovations. Porn comes to mind as a huge driver of online tech (don’t get me started on the puns!), but one of the fastest growing industries seems to not get the attention they deserve when it comes to advancements in online technology. The gaming industry has had a hand in tons of major advancements in online tech, but it is a world that, unless you are a gamer, you probably have no idea how huge it really is. As we see a major shift towards cryptocurrency & blockchain based systems online, the gaming industry has already been using digital assets for years. The “in-game asset” market nears around $50 Billion dollars a year and now major players are stepping into the blockchain spotlight. Enter in the Worldwide Asset eXchange, or WAX for short. Follow The ‘Stache as I get my game on and cover the basics of this already established giant in the gaming asset industry.

What Is The Worldwide Asset eXchange?

Before I can really talk about what WAX is I think a little background on their parent company is in order. WAX is being developed by the same people that run OPSkins.com. OPSkins is an online centralized marketplace for gamers to buy and sell digital assets for popular games like Counter-Strike: GO, H1Z1, Dota 2, Unturned, and many more. These gaming assets are essentially just “skins” for models in the game. For instance, you can buy this sweet Neko-chan Hoodie chest piece for your character in the game H1Z1 ( a zombie survival mmo). OPSkins has been in business since 2015 and it seems business has been booming as they are now the largest marketplace for trading virtual game assets in the world. The company has facilitated over 100+ million purchases annually for millions of customers across 95 countries. So if business is great, why the need for the Worldwide Asset eXchange?

Err Body In The Club Gettin’ WAX-ie!

While the market for digital assets is huge, it is quite fragmented. Many games have their own specific markets (like the one I play, Shroud of the Avatar), and then others are strewn across multiple outlets. This makes it pretty hard to trade in-game assets with any kind of security. I have made a few in-game asset purchases and I always had to rely on the sellers “community reputation”, hoping that after I paypal him the money, he will meet me in-game to hand over the goods. WAX is essentially building a global virtual item repository that operates in a decentralized way where anyone can use their widgets to start selling immediately without the worries of security, payment systems, and more. This should lower the transaction costs and increase the on-demand availability of gaming assets due to the in-place trust mechanics of a decentralized blockchain purchasing model.

The WAX Token

So where does the WAX token come in? Like all good crypto platforms that use a token, it must have an intrinsic value to the platform. The WAX platform will be developed on top of Ethereum and will make use of Ethereum’s smart contract features. The WAX token is an essential part of the ecosystem and is the only way gamers buy, sell, rent, and trade assets on the exchange. On top of the buying & selling the WAX token is also used in the platforms Delegated Proof of Stake consensus algorithm where delegated nodes or “Guilds” confirm transactions for a specific game.

A Gamers ICO

Of course, WAX is holding their own ICO (which ends TODAY, November 29th, 2018). For the main sale they are looking at 150 WAX = 1 ETH. The WAX Token hard cap or total supply is set at 185,000,000. With today’s price of ETH (around $475) that puts the value of your WAX token purchase at about $3 USD per WAX Token. I think this is a pretty good price point for this ICO, but with a pretty large supply I would not be surprised to see the price dip at exchange launch. Here is how they break down the tokens:

45% of all tokens are going to the team, founders, contributors and advisers, while 30% goes to development and 35% to the token sale. While these may not be the best numbers I have seen for an ICO, I do have some VERY good reasons why I am strong on this company.

The ‘Stache Position

When I decided to make my WAX purchase the “gamers pre-sale” had just ended. ETH was at around $300 a coin and I decided to invest 0.2 ETH for a total of 30 WAX. Not a huge investment, but I was a little sad I missed the Gamer pre-sale so it made me a bit sour (my own fault for sleeping this one!). The reason why I think this is going to be a crypto powerhouse is two fold. Firstly, OPSkins.com is a thriving business model with a solid working product that is used by millions of people already. This is no startup business with just a whitepaper and dream, they are generating millions of dollars in sales every year. Compare this to most other ICO’s and this factor alone blows many of them away. Combine this with my second point and we have a true winner.

While we are still in the very early adoptions phase of cryptocurrencies where only a few million people are actually using crypto, there are 400+ million gamers out there that have already been trading in digital assets. They are familiar and VERY comfortable with this and do it on the daily. Think what will happen when you put crypto in the hands of these 400+ million gamers. It will boost adoption very rapidly, especially if you consider that the current digital asset trading community represents roughly 22% of the 1.8 billion people who play video games.

Based on these two factors alone I think that the WAX platform will be extremely successful in the long term. You can’t deny the power of gamers, and if you don’t know… now ya know!

Anyone Up For Some ‘Stache PvP?

Read the full article

24hr Crypto Market Round up

24hr Crypto Market Round up

Some interesting movements in the top 10 today

Bitcoin Cash making ground on its previous all time high

The trend was seen across the board with 8 out of 10 coins making positive moves against the dollar.

Remember Follow me via https://medium.com/@john.l.fenton

Bitcoin (BTC) $18899 down 1.77%

Ethereum (ETH) 6.55% up @ $768

Bitcoin Cash (BCH) @ $2154 up 16.47%

Ripple (XRP)2.78% up @ $0.749507

LiteCoin (LTC) @ $328 up 2.13%

Cardano drops 5.97% @ $0.474988

IOTA up 14% @ $4.20

DASH @ $1120.73 up 1.12%

NEM rises @ $0.796317 gains 17.3%

Monero @ $370 up 8.03%

Note: These are my opinions and I like to think I am right all the time, but have been known on the ODD occasion to be wrong, so the here is the legal bit

My opinions on the blog do not constitute investment advice.

24hr Crypto Market Round up

24hr Crypto Market Round up

Some interesting movements in the top 10 today

Bitcoin Cash making ground on its previous all time high

The trend was seen across the board with 8 out of 10 coins making positive moves against the dollar.

Remember Follow me via https://medium.com/@john.l.fenton

Bitcoin (BTC) $18899 down 1.77%

Ethereum (ETH) 6.55% up @ $768

Bitcoin Cash (BCH) @ $2154 up 16.47%

Ripple (XRP)2.78% up @ $0.749507

LiteCoin (LTC) @ $328 up 2.13%

Cardano drops 5.97% @ $0.474988

IOTA up 14% @ $4.20

DASH @ $1120.73 up 1.12%

NEM rises @ $0.796317 gains 17.3%

Monero @ $370 up 8.03%

Note: These are my opinions and I like to think I am right all the time, but have been known on the ODD occasion to be wrong, so the here is the legal bit

My opinions on the blog do not constitute investment advice.

8 Things You Can Buy With One Bitcoin

You have one bitcoin burning a hole in your hard drive and the holidays are coming, so you’re looking for gift ideas — congratulations! Right now one bitcoin is going for around $17,500. Hopefully you mined this bitcoin in its infancy, or bought it when it was under $100. Because if you did, it’s all upside! Less so if you bought it yesterday, although you’ve done fairly well if you bought it two days ago. I have no view on where bitcoin will go, but now may not be a bad time to take a little off the table. Here are my suggestions on what you can buy for $17,500. Tax not included, but if you have one bitcoin, I’m sure you can scrounge for the rest!

8 Things You Can Buy With One Bitcoin

1) Kia Soul

Holy crap, you can buy a brand new car with just one bitcoin! With an MSRP of $16,100, you even have a little left over for some upgrades. It may not be the nicest car out there, but it’s still a brand new car with a 10-year/100,000 mile warranty. If you are looking to buy a new car, remember to do your research and negotiate to get the best price.


Kia

2) Diamond Earrings

For that special lady in your life (maybe even yourself!), you can get her 2.5 ct diamond earrings for a little over $16,000. If you are looking at diamonds, make sure you’re getting the most bang for your buck. Diamond earrings won’t appreciate (bitcoin may not either from here), but there’s no doubt the earrings are nicer to look at.

3) Pontoon

Sunbathe. Fish. Or just spend time on the water. For the price of one bitcoin, you can have your own boat! Prices for this boat range from $14k to $18k base, so if you’re only willing to spend just one bitcoin, don’t load up on the options.

If you’re really good at fishing (not me), you may even make money with this investment!


Avalon Pontoons

4) Rolex

Bitcoin has just doubled in under a month. Clearly, the time value of money is important to you as a bitcoin holder, so what better way to recognize that than with a Rolex? Diamond hour markers, 18k gold bezel and center links. You can certainly do a lot worse. Apparently Rolexes are great to have if you travel a lot and need something to trade to get out of sticky situations. Although these days, people may be willing to take bitcoin as well. Or at least Square credit card readers.

5) Bugatti Oil Change

It’s a tough choice. A whole Kia, or an oil change for a Bugatti? Actually, 85% of an oil change. Note that the tires will cost about $30,000 and will need to replaced after 2,500 miles, so you’ll need a few more bitcoin to get the whole servicing done. If your name’s Satoshi Nakamoto, this should not be an issue.


Remember, not the car, or the steering wheel, or even the headlights. Just one oil change.

6) 5 Steaks

Yes, you read that right. In exchange for one bitcoin, you can have steaks for you and four of your friends. Not new steaks, though. You can’t afford that. But steaks from 2000. These steaks are special, with a unique preservation method where cold air is blown at 75 MPH to keep them chilled. Basically, somebody threw them on a roof of a car and drove down the freeway.


If you want the asparagus and tomatoes, be prepared to shell out another $10k.

The cows are also raised in the best living conditions possible. They’re probably treated better than my wife and kids.

7) Berkshire Hathaway Stock

This is probably going to be near the bottom of your wish list, because if you follow Warren Buffett, you wouldn’t have any bitcoins in the first place. But if you think is this the top for bitcoin, what better way to lock in that value than by going from ulta-growth to ultra-value? AOL pulled this feat off in 2000 and maybe you can too!

Unfortunately, you don’t have enough money to buy a big-boy share of BRK/A. Those go for just under $300,000. But you can get 83 shares of the Class B’s, which are just under $200 apiece.

8) Beanie Baby

Some people believe bitcoin is a fad, and that it’s only a matter of time before the bubble bursts. Maybe it is, maybe it isn’t. I don’t know. But there’s one thing I know about fads: they come and they go. The Beanie Baby boom could just be resting, ready to take off again. This could be your chance to start on the ground floor. Again!


ebay. Uhh, maybe you should hold on to the bitcoin instead.