﷽ The Federal Reserve and the United States government are pumping extreme amounts of money into the economy, already totaling over $484 billion. They are doing so because it already had a goal to inflate the United States Dollar (USD) so that the market can continue to all-time highs. It has always had this goal. They do not care how much inflation goes up by now as we are going into a depression with the potential to totally crash the US economy forever. They believe the only way to save the market from going to zero or negative values is to inflate it so much that it cannot possibly crash that low. Even if the market does not dip that low, inflation serves the interest of powerful people. The impending crash of the stock market has ramifications for Bitcoin, as, though there is no direct ongoing-correlation between the two, major movements in traditional markets will necessarily affect Bitcoin. According to the Blockchain Center’s Cryptocurrency Correlation Tool, Bitcoin is not correlated with the stock market. However, when major market movements occur, they send ripples throughout the financial ecosystem which necessary affect even ordinarily uncorrelated assets. Therefore, Bitcoin will reach X price on X date after crashing to a price of X by X date.
Stock Market Crash
The Federal Reserve has caused some serious consternation with their release of ridiculous amounts of money in an attempt to buoy the economy. At face value, it does not seem to have any rationale or logic behind it other than keeping the economy afloat long enough for individuals to profit financially and politically. However, there is an underlying basis to what is going on which is important to understand in order to profit financially. All markets are functionally price probing systems. They constantly undergo a price-discovery process. In a fiat system, money is an illusory and a fundamentally synthetic instrument with no intrinsic value – similar to Bitcoin. The primary difference between Bitcoin is the underlying technology which provides a slew of benefits that fiat does not. Fiat, however, has an advantage in being able to have the support of powerful nation-states which can use their might to insure the currency’s prosperity. Traditional stock markets are composed of indices (pl. of index). Indices are non-trading market instruments which are essentially summaries of business values which comprise them. They are continuously recalculated throughout a trading day, and sometimes reflected through tradable instruments such as Exchange Traded Funds or Futures. Indices are weighted by market capitalizations of various businesses. Price theory essentially states that when a market fails to take out a new low in a given range, it will have an objective to take out the high. When a market fails to take out a new high, it has an objective to make a new low. This is why price-time charts go up and down, as it does this on a second-by-second, minute-by-minute, day-by-day, and even century-by-century basis. Therefore, market indices will always return to some type of bull market as, once a true low is formed, the market will have a price objective to take out a new high outside of its’ given range – which is an all-time high. Instruments can only functionally fall to zero, whereas they can grow infinitely. So, why inflate the economy so much? Deflation is disastrous for central banks and markets as it raises the possibility of producing an overall price objective of zero or negative values. Therefore, under a fractional reserve system with a fiat currency managed by a central bank – the goal of the central bank is to depreciate the currency. The dollar is manipulated constantly with the intention of depreciating its’ value. Central banks have a goal of continued inflated fiat values. They tend to ordinarily contain it at less than ten percent (10%) per annum in order for the psyche of the general populace to slowly adjust price increases. As such, the markets are divorced from any other logic. Economic policy is the maintenance of human egos, not catering to fundamental analysis. Gross Domestic Product (GDP) growth is well-known not to be a measure of actual growth or output. It is a measure of increase in dollars processed. Banks seek to produce raising numbers which make society feel like it is growing economically, making people optimistic. To do so, the currency is inflated, though inflation itself does not actually increase growth. When society is optimistic, it spends and engages in business – resulting in actual growth. It also encourages people to take on credit and debts, creating more fictional fiat. Inflation is necessary for markets to continue to reach new heights, generating positive emotional responses from the populace, encouraging spending, encouraging debt intake, further inflating the currency, and increasing the sale of government bonds. The fiat system only survives by generating more imaginary money on a regular basis. Bitcoin investors may profit from this by realizing that stock investors as a whole always stand to profit from the market so long as it is managed by a central bank and does not collapse entirely. If those elements are filled, it has an unending price objective to raise to new heights. It also allows us to realize that this response indicates that the higher-ups believe that the economy could crash in entirety, and it may be wise for investors to have multiple well-thought-out exit strategies.
Economic Analysis of Bitcoin
The reason why the Fed is so aggressively inflating the economy is due to fears that it will collapse forever or never rebound. As such, coupled with a global depression, a huge demand will appear for a reserve currency which is fundamentally different than the previous system. Bitcoin, though a currency or asset, is also a market. It also undergoes a constant price-probing process. Unlike traditional markets, Bitcoin has the exact opposite goal. Bitcoin seeks to appreciate in value and not depreciate. This has a quite different affect in that Bitcoin could potentially become worthless and have a price objective of zero. Bitcoin was created in 2008 by a now famous mysterious figure known as Satoshi Nakamoto and its’ open source code was released in 2009. It was the first decentralized cryptocurrency to utilize a novel protocol known as the blockchain. Up to one megabyte of data may be sent with each transaction. It is decentralized, anonymous, transparent, easy to set-up, and provides myriad other benefits. Bitcoin is not backed up by anything other than its’ own technology. Bitcoin is can never be expected to collapse as a framework, even were it to become worthless. The stock market has the potential to collapse in entirety, whereas, as long as the internet exists, Bitcoin will be a functional system with a self-authenticating framework. That capacity to persist regardless of the actual price of Bitcoin and the deflationary nature of Bitcoin means that it has something which fiat does not – inherent value. Bitcoin is based on a distributed database known as the “blockchain.” Blockchains are essentially decentralized virtual ledger books, replete with pages known as “blocks.” Each page in a ledger is composed of paragraph entries, which are the actual transactions in the block. Blockchains store information in the form of numerical transactions, which are just numbers. We can consider these numbers digital assets, such as Bitcoin. The data in a blockchain is immutable and recorded only by consensus-based algorithms. Bitcoin is cryptographic and all transactions are direct, without intermediary, peer-to-peer. Bitcoin does not require trust in a central bank. It requires trust on the technology behind it, which is open-source and may be evaluated by anyone at any time. Furthermore, it is impossible to manipulate as doing so would require all of the nodes in the network to be hacked at once – unlike the stock market which is manipulated by the government and “Market Makers”. Bitcoin is also private in that, though the ledge is openly distributed, it is encrypted. Bitcoin’s blockchain has one of the greatest redundancy and information disaster recovery systems ever developed. Bitcoin has a distributed governance model in that it is controlled by its’ users. There is no need to trust a payment processor or bank, or even to pay fees to such entities. There are also no third-party fees for transaction processing. As the ledge is immutable and transparent it is never possible to change it – the data on the blockchain is permanent. The system is not easily susceptible to attacks as it is widely distributed. Furthermore, as users of Bitcoin have their private keys assigned to their transactions, they are virtually impossible to fake. No lengthy verification, reconciliation, nor clearing process exists with Bitcoin. Bitcoin is based on a proof-of-work algorithm. Every transaction on the network has an associated mathetical “puzzle”. Computers known as miners compete to solve the complex cryptographic hash algorithm that comprises that puzzle. The solution is proof that the miner engaged in sufficient work. The puzzle is known as a nonce, a number used only once. There is only one major nonce at a time and it issues 12.5 Bitcoin. Once it is solved, the fact that the nonce has been solved is made public. A block is mined on average of once every ten minutes. However, the blockchain checks every 2,016,000 minutes (approximately four years) if 201,600 blocks were mined. If it was faster, it increases difficulty by half, thereby deflating Bitcoin. If it was slower, it decreases, thereby inflating Bitcoin. It will continue to do this until zero Bitcoin are issued, projected at the year 2140. On the twelfth of May, 2020, the blockchain will halve the amount of Bitcoin issued when each nonce is guessed. When Bitcoin was first created, fifty were issued per block as a reward to miners. 6.25 BTC will be issued from that point on once each nonce is solved. Unlike fiat, Bitcoin is a deflationary currency. As BTC becomes scarcer, demand for it will increase, also raising the price. In this, BTC is similar to gold. It is predictable in its’ output, unlike the USD, as it is based on a programmed supply. We can predict BTC’s deflation and inflation almost exactly, if not exactly. Only 21 million BTC will ever be produced, unless the entire network concedes to change the protocol – which is highly unlikely. Some of the drawbacks to BTC include congestion. At peak congestion, it may take an entire day to process a Bitcoin transaction as only three to five transactions may be processed per second. Receiving priority on a payment may cost up to the equivalent of twenty dollars ($20). Bitcoin mining consumes enough energy in one day to power a single-family home for an entire week.
Trading or Investing?
The fundamental divide in trading revolves around the question of market structure. Many feel that the market operates totally randomly and its’ behavior cannot be predicted. For the purposes of this article, we will assume that the market has a structure, but that that structure is not perfect. That market structure naturally generates chart patterns as the market records prices in time. In order to determine when the stock market will crash, causing a major decline in BTC price, we will analyze an instrument, an exchange traded fund, which represents an index, as opposed to a particular stock. The price patterns of the various stocks in an index are effectively smoothed out. In doing so, a more technical picture arises. Perhaps the most popular of these is the SPDR S&P Standard and Poor 500 Exchange Traded Fund ($SPY). In trading, little to no concern is given about value of underlying asset. We are concerned primarily about liquidity and trading ranges, which are the amount of value fluctuating on a short-term basis, as measured by volatility-implied trading ranges. Fundamental analysis plays a role, however markets often do not react to real-world factors in a logical fashion. Therefore, fundamental analysis is more appropriate for long-term investing. The fundamental derivatives of a chart are time (x-axis) and price (y-axis). The primary technical indicator is price, as everything else is lagging in the past. Price represents current asking price and incorrectly implementing positions based on price is one of the biggest trading errors. Markets and currencies ordinarily have noise, their tendency to back-and-fill, which must be filtered out for true pattern recognition. That noise does have a utility, however, in allowing traders second chances to enter favorable positions at slightly less favorable entry points. When you have any market with enough liquidity for historical data to record a pattern, then a structure can be divined. The market probes prices as part of an ongoing price-discovery process. Market technicians must sometimes look outside of the technical realm and use visual inspection to ascertain the relevance of certain patterns, using a qualitative eye that recognizes the underlying quantitative nature Markets and instruments rise slower than they correct, however they rise much more than they fall. In the same vein, instruments can only fall to having no worth, whereas they could theoretically grow infinitely and have continued to grow over time. Money in a fiat system is illusory. It is a fundamentally synthetic instrument which has no intrinsic value. Hence, the recent seemingly illogical fluctuations in the market. According to trade theory, the unending purpose of a market or instrument is to create and break price ranges according to the laws of supply and demand. We must determine when to trade based on each market inflection point as defined in price and in time as opposed to abandoning the trend (as the contrarian trading in this sub often does). Time and Price symmetry must be used to be in accordance with the trend. When coupled with a favorable risk to reward ratio, the ability to stay in the market for most of the defined time period, and adherence to risk management rules; the trader has a solid methodology for achieving considerable gains. We will engage in a longer term market-oriented analysis to avoid any time-focused pressure. The Bitcoin market is open twenty-four-hours a day, so trading may be done when the individual is ready, without any pressing need to be constantly alert. Let alone, we can safely project months in advance with relatively high accuracy. Bitcoin is an asset which an individual can both trade and invest, however this article will be focused on trading due to the wide volatility in BTC prices over the short-term.
Technical Indicator Analysis of Bitcoin
Technical indicators are often considered self-fulfilling prophecies due to mass-market psychology gravitating towards certain common numbers yielded from them. They are also often discounted when it comes to BTC. That means a trader must be especially aware of these numbers as they can prognosticate market movements. Often, they are meaningless in the larger picture of things.
Volume – derived from the market itself, it is mostly irrelevant. The major problem with volume for stocks is that the US market open causes tremendous volume surges eradicating any intrinsic volume analysis. This does not occur with BTC, as it is open twenty-four-seven. At major highs and lows, the market is typically anemic. Most traders are not active at terminal discretes (peaks and troughs) because of levels of fear. Volume allows us confidence in time and price symmetry market inflection points, if we observe low volume at a foretold range of values. We can rationalize that an absolute discrete is usually only discovered and anticipated by very few traders. As the general market realizes it, a herd mentality will push the market in the direction favorable to defending it. Volume is also useful for swing trading, as chances for swing’s validity increases if an increase in volume is seen on and after the swing’s activation. Volume is steadily decreasing. Lows and highs are reached when volume is lower.
Therefore, due to the relatively high volume on the 12th of March, we can safely determine that a low for BTC was not reached.
VIX – Volatility Index, this technical indicator indicates level of fear by the amount of options-based “insurance” in portfolios. A low VIX environment, less than 20 for the S&P index, indicates a stable market with a possible uptrend. A high VIX, over 20, indicates a possible downtrend. VIX is essentially useless for BTC as BTC-based options do not exist. It allows us to predict the market low for $SPY, which will have an indirect impact on BTC in the short term, likely leading to the yearly low. However, it is equally important to see how VIX is changing over time, if it is decreasing or increasing, as that indicates increasing or decreasing fear. Low volatility allows high leverage without risk or rest. Occasionally, markets do rise with high VIX.
As VIX is unusually high, in the forties, we can be confident that a downtrend for the S&P 500 is imminent.
RSI (Relative Strength Index): The most important technical indicator, useful for determining highs and lows when time symmetry is not availing itself. Sometimes analysis of RSI can conflict in different time frames, easiest way to use it is when it is at extremes – either under 30 or over 70. Extremes can be used for filtering highs or lows based on time-and-price window calculations. Highly instructive as to major corrective clues and indicative of continued directional movement. Must determine if longer-term RSI values find support at same values as before. It is currently at 73.56.
Secondly, RSI may be used as a high or low filter, to observe the level that short-term RSI reaches in counter-trend corrections. Repetitions based on market movements based on RSI determine how long a trade should be held onto. Once a short term RSI reaches an extreme and stay there, the other RSI’s should gradually reach the same extremes. Once all RSI’s are at extreme highs, a trend confirmation should occur and RSI’s should drop to their midpoint.
Trend Definition Analysis of Bitcoin
Trend definition is highly powerful, cannot be understated. Knowledge of trend logic is enough to be a profitable trader, yet defining a trend is an arduous process. Multiple trends coexist across multiple time frames and across multiple market sectors. Like time structure, it makes the underlying price of the instrument irrelevant. Trend definitions cannot determine the validity of newly formed discretes. Trend becomes apparent when trades based in counter-trend inflection points continue to fail. Downtrends are defined as an instrument making lower lows and lower highs that are recurrent, additive, qualified swing setups. Downtrends for all instruments are similar, except forex. They are fast and complete much quicker than uptrends. An average downtrend is 18 months, something which we will return to. An uptrend inception occurs when an instrument reaches a point where it fails to make a new low, then that low will be tested. After that, the instrument will either have a deep range retracement or it may take out the low slightly, resulting in a double-bottom. A swing must eventually form. A simple way to roughly determine trend is to attempt to draw a line from three tops going upwards (uptrend) or a line from three bottoms going downwards (downtrend). It is not possible to correctly draw a downtrend line on the BTC chart, but it is possible to correctly draw an uptrend – indicating that the overall trend is downwards. The only mitigating factor is the impending stock market crash.
Time Symmetry Analysis of Bitcoin
Time is the movement from the past through the present into the future. It is a measurement in quantified intervals. In many ways, our perception of it is a human construct. It is more powerful than price as time may be utilized for a trade regardless of the market inflection point’s price. Were it possible to perfectly understand time, price would be totally irrelevant due to the predictive certainty time affords. Time structure is easier to learn than price, but much more difficult to apply with any accuracy. It is the hardest aspect of trading to learn, but also the most rewarding. Humans do not have the ability to recognize every time window, however the ability to define market inflection points in terms of time is the single most powerful trading edge. Regardless, price should not be abandoned for time alone. Time structure analysis It is inherently flawed, as such the markets have a fail-safe, which is Price Structure. Even though Time is much more powerful, Price Structure should never be completely ignored. Time is the qualifier for Price and vice versa. Time can fail by tricking traders into counter-trend trading. Time is a predestined trade quantifier, a filter to slow trades down, as it allows a trader to specifically focus on specific time windows and rest at others. It allows for quantitative measurements to reach deterministic values and is the primary qualifier for trends. Time structure should be utilized before price structure, and it is the primary trade criterion which requires support from price. We can see price structure on a chart, as areas of mathematical support or resistance, but we cannot see time structure. Time may be used to tell us an exact point in the future where the market will inflect, after Price Theory has been fulfilled. In the present, price objectives based on price theory added to possible future times for market inflection points give us the exact time of market inflection points and price. Time Structure is repetitions of time or inherent cycles of time, occurring in a methodical way to provide time windows which may be utilized for inflection points. They are not easily recognized and not easily defined by a price chart as measuring and observing time is very exact. Time structure is not a science, yet it does require precise measurements. Nothing is certain or definite. The critical question must be if a particular approach to time structure is currently lucrative or not. We will measure it in intervals of 180 bars. Our goal is to determine time windows, when the market will react and when we should pay the most attention. By using time repetitions, the fact that market inflection points occurred at some point in the past and should, therefore, reoccur at some point in the future, we should obtain confidence as to when SPY will reach a market inflection point. Time repetitions are essentially the market’s memory. However, simply measuring the time between two points then trying to extrapolate into the future does not work. Measuring time is not the same as defining time repetitions. We will evaluate past sessions for market inflection points, whether discretes, qualified swings, or intra-range. Then records the times that the market has made highs or lows in a comparable time period to the future one seeks to trade in. What follows is a time Histogram – A grouping of times which appear close together, then segregated based on that closeness. Time is aligned into combined histogram of repetitions and cycles, however cycles are irrelevant on a daily basis. If trading on an hourly basis, do not use hours.
Daily Lows Mode for those Months: 1, 1, 2, 4, 12, 17, 18, 24, 25, 28, 29, 30
Hourly Lows Mode for those Months (Military time): 0100, 0200, 0200, 0400, 0700, 0700, 0800, 1200, 1200, 1700, 2000, 2200
Minute Lows Mode for those Months: 00, 00, 00, 00, 00, 00, 09, 09, 59, 59, 59, 59
Day of the Week Lows (last twenty-six weeks):
Weighted Times are repetitions which appears multiple times within the same list, observed and accentuated once divided into relevant sections of the histogram. They are important in the presently defined trading time period and are similar to a mathematical mode with respect to a series. Phased times are essentially periodical patterns in histograms, though they do not guarantee inflection points Evaluating the yearly lows, we see that BTC tends to have its lows primarily at the beginning of every year, with a possibility of it being at the end of the year. Following the same methodology, we get the middle of the month as the likeliest day. However, evaluating the monthly lows for the past year, the beginning and end of the month are more likely for lows. Therefore, we have two primary dates from our histogram. 1/1/21, 1/15/21, and 1/29/21 2:00am, 8:00am, 12:00pm, or 10:00pm In fact, the high for this year was February the 14th, only thirty days off from our histogram calculations. The 8.6-Year Armstrong-Princeton Global Economic Confidence model states that 2.15 year intervals occur between corrections, relevant highs and lows. 2.15 years from the all-time peak discrete is February 9, 2020 – a reasonably accurate depiction of the low for this year (which was on 3/12/20). (Taking only the Armstrong model into account, the next high should be Saturday, April 23, 2022). Therefore, the Armstrong model indicates that we have actually bottomed out for the year! Bear markets cannot exist in perpetuity whereas bull markets can. Bear markets will eventually have price objectives of zero, whereas bull markets can increase to infinity. It can occur for individual market instruments, but not markets as a whole. Since bull markets are defined by low volatility, they also last longer. Once a bull market is indicated, the trader can remain in a long position until a new high is reached, then switch to shorts. The average bear market is eighteen months long, giving us a date of August 19th, 2021 for the end of this bear market – roughly speaking. They cannot be shorter than fifteen months for a central-bank controlled market, which does not apply to Bitcoin. (Otherwise, it would continue until Sunday, September 12, 2021.) However, we should expect Bitcoin to experience its’ exponential growth after the stock market re-enters a bull market. Terry Laundy’s T-Theory implemented by measuring the time of an indicator from peak to trough, then using that to define a future time window. It is similar to an head-and-shoulders pattern in that it is the process of forming the right side from a synthetic technical indicator. If the indicator is making continued lows, then time is recalculated for defining the right side of the T. The date of the market inflection point may be a price or indicator inflection date, so it is not always exactly useful. It is better to make us aware of possible market inflection points, clustered with other data. It gives us an RSI low of May, 9th 2020. The Bradley Cycle is coupled with volatility allows start dates for campaigns or put options as insurance in portfolios for stocks. However, it is also useful for predicting market moves instead of terminal dates for discretes. Using dates which correspond to discretes, we can see how those dates correspond with changes in VIX. Therefore, our timeline looks like:
2/14/20 – yearly high ($10372 USD)
3/12/20 – yearly low thus far ($3858 USD)
5/9/20 – T-Theory true yearly low (BTC between 4863 and 3569)
Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging atGenesis Block. https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player This is the third post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series. 97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit. So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.
Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility. There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
USDC($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid. Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens. Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive. The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments. Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol. Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery. Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur. And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio. With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong. Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k. There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols. Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth. https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943 There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers. Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound. There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto). Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times. The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW! Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized). Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum). In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.” https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8 When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be. We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
--- None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block. So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions. To look at more projects in DeFi, check outDeFi Prime,DeFi Pulse, orConsensys. ------ Other Ways to Consume Today's Episode:
An old friend of mine emailed this to me a while back with the subject line “Hide and Seek” and I’ve been hesitant to post it for reasons that should become obvious as you read it. That said, I feel that enough time has gone by for this to be safe so I’m going to post it here. The only edits I’ve made were swapping out names and formatting, otherwise it’s all exactly as he sent it. T, if you’re reading this then message me. I want to know if you’re alright, and if you are I know you’ll be looking for this story to show up. This is what the email said: Rijento, I’m writing this story because I feel like I need an outlet. I swear to god that you better actually check your email for once in your damn life! Please… As for if you actually are reading this, I want you to wait as long as your (admittedly) better judgment tells you to wait and then post this story online. I know it’s a bit vain, but I want people to know my story. Hell, it might be the last one I ever tell. Double hell, it might actually even help some poor soul out. I’m going to disappear after sending this, hopefully the good kind of disappear and not the death kind. I know nobody but you is going to believe this story but damn if typing this out didn’t make my sorry ass feel better. You were right about that man, I’m sorry for giving you shit for writing so much…
This is the attached file. “Hide and Seek”: Before I get in to the ‘hiding’ and ‘seeking’ I have a bit of a confession that needs to be made. I work as a transporter for a deep web black market site… I hope it doesn’t change your opinion of me too much, sorry for not telling you sooner. I’m the guy they call when they get an order for something they can’t send through the mail. Guns and live animals are two good examples. You’d be pretty hyped to know how many rich assholes just order lions and tigers from the dark web. For obvious reasons, I can’t go in to too much detail, I don’t want to make any dangerous enemies and even after this I still don’t want to lose my job. It’s a pretty sweet gig all things considered, all I have to do is pick up from the seller and deliver to the buyer. I can even choose what jobs I want to take, lets me cling to what little principles I still have. And I DO have principles. After a few years working for the site, my two rules were: no people and no crossing borders. Anyways, I got into a bit of a bind with the cryptocurrency crash that happened early this year. The site mostly pays in Bitcoin and, well, I decided to let my wallet sit and grow. By the time I realized what happened, my savings were destroyed. Nobody expected it to crash that hard… And it probably wouldn’t have been as much of a problem if I hadn’t also gotten used to living a life full of the finer things. I didn’t really ‘save’ all that much to begin with either. So when my savings finally ran dry and the market was still down, I decided to… Lower my standards a bit and take a riskier, higher paying job. Organ transport. I haven’t done it before… I hadn’t been that broke in a long time. Organ jobs pay well too, and I figured I still wasn’t strictly breaking my ‘no people’ rule if it was just their organs. So, I hopped on the site and browsed through the pitiful number of requests in my area till I found what I was looking for. A rich buyer who: had shady connections, was in need of some organs, and lacked either the time or patience to wait for them to come legally. As far as these sort of requests went, this was pretty much the norm from what I’d heard. So I accepted the job and got an email with some additional details about the order: the customer needed two kidneys (which was what I was to transport) and a liver (which they had made a separate request for). From what other people on the site have told me, what should have happened was the job would move to the ‘seeking seller’ section and I’d be on hold till someone… ‘_acquired_’ the kidneys. What actually happened probably should have tipped me off to use my monthly free withdraw… I got a notification two hours later that there was a seller. Rijento, I don’t know how much you know about medicine, but if you do know anything then you’re probably squirming in your own skin about right now. For those who may or may not be reading this that are not in the know, not only do the donor and receiver have to have compatible blood types but kidneys only last about a day outside of a warm body. Not exactly a product you can stockpile. I got another email, about the pickup this time, and began the internal debate between the bad feeling in my gut and my empty wallet… You can probably guess which one of them won out… Anyways, I planned my route; one hour to get to the seller and four hours to get from there to the buyer. I sent the site my plan and within minutes they approve of it and set up an actual meeting point. I sighed and grabbed my things, trying to swallow my nerves the entire hour it took me to reach the meeting point. I sat down on a bench in a city park and waited for what seemed like ages before I felt someone staring at me. It took me a solid minute to pick out who it was even though there were only a few people around. He was sitting with his back to me at a picnic table about ten yards away from me and whenever I looked away I could feel his eyes on me. When we eventually did make eye-contact he bounced excitedly in his seat and waved me over; my heart sank as he also slid a small case into my line of sight. I forced myself to smile, walked over, sat down, and hid my annoyance. Most of the buyers on the site were practically carbon copies of each other. Probably because you could only become a buyer if another buyer knew and endorsed you. The sellers, on the other hand, were all certifiably insane. None of the other transporters I’d chatted with had ever met with a ‘normal’ seller. Because of this, all of them quickly learned to keep conversation to a minimum and to not under any circumstances piss any of them off. I decided to follow in their example. The man sitting in front of me looked friendly enough, overly so if anything. He was scrawny, didn’t look like he would be strong enough to… well… kill someone and harvest their insides. He had a strange smile on his face, and even now I can’t get it out of my head. The kind of overly friendly, wide toothed smile that mothers warned their children to stay away from. It somehow managed to be both inviting and creepy at the same time. I smiled back and spoke up, “So you’re the seller then?” I asked, and the man nodded. He nodded and responded in a sickeningly sweet voice… He sounded like a child in a toy store, his voice strained with excitement and wonder as he droned on to his parents about what toys he wanted. “Oh I’m so glad you found me. For a minute there I thought I’d have to call ‘olly olly oxen free.’” He said with a pleased sigh, pushing the case to my side of the table. “You know… Over the years I’ve gotten quite good at playing hide and seek. So good, in fact, that I’ve never been found. Not. Even. Once. Do you want to know my secret?” the man asked, his voice still just as unsettlingly sweet as his smile. “Sure, what’s your secret?” I asked. I really, really didn’t want to know what the hell he was talking about; but if it kept him happy then… He clapped rapidly and bounced in place, “Oh I’m so glad that you’re a curious one. My secret is that the seekers never know that they’re playing.” “Makes sense…” I said, opening the case momentarily to verify. Two kidneys in pristine condition, doused with preserving fluid, wrapped in plastic. and packed in ice. “If the seeker doesn’t know they’re playing then how would they know to start looking?” I said, leaving out the fact that it would just be stalking at that point before swallowing hard when I thought about where these kidneys came from. “You’re a smart one…” he said with a smile as I sent a message confirming the pickup. All that was left was to wait for the transaction to process. “I was worried about this last one though… she came right up to me. This. Close.” he said, leaning in till our faces almost touched. I struggled to keep my composure, and managed to keep from jumping or pushing him away. “So what did you do?” I asked as he leaned back, my suspicions about these kidneys being all but confirmed. “Why, nothing of course…” He said, a slightly bewildered expression on his face. He looked as though I just asked him how to breathe. I glanced down at my phone to see if the transaction had been verified yet and he snapped his fingers like he remembered something. “Oh I must apologize!” he said, making me look up, “I forgot that you don’t play much… I simply held my breath, closed my eyes, and wished that she would just… go away.” “You’re right… You are good at hide and seek...” I said, wishing to myself that he would just go away and hearing the familiar ding of a successful transaction sound on both of our phones as if to answer my prayers. I reached out my hand as a formality and he grabbed it and shook it vigorously. I forced a smile and stood, although what he said next made my blood nearly freeze. “You’re the first person to find me in oh so long…” He trailed off as he said it, his voice slowly shifting from that of an exited child to the cold blooded maniac that he was. “Maybe my games won’t be so one sided from now on,” He said, his voice disturbingly normal. Although, even without looking back I could tell that the same sickeningly sweet smile was glued to his face. I kept walking but waved my arm as though saying goodbye. The worst part was that I could feel him watching me as I walked back to my car… Not just at first, like if he was watching me leave, but the entire way back, and even as I got in my car. I took a moment to look around and sighed as I saw nothing. It might not sound like much to you. I don’t know, I can still hardly describe it myself, but he had this… creepy way of getting under your skin just by talking to you. I wrote it off as me just being paranoid, the guy harvests organs from people for a living so of course everything he says is creepy. I groaned and started my car, but it wasn’t until I hit the freeway that I was finally able to shake the feeling of his gaze. It’s not like he could’ve been following me, by then I was already paranoid enough to be checking for that, making a few detours just to be sure of it. And because of my detours, I ended up being about an hour past the scheduled drop off with the buyer… Lost my chance at a tip for sure, guy was furious and there was nothing I could tell him to calm him down. I’m pretty sure, ‘sorry I’m late, but the seller was a total psycho and I wanted to make sure he wasn’t following me,’ wouldn’t have been a very good excuse. Whatever, I had my money and the buyer had his organs and plenty of time for whatever operation that used them. Not much to complain about on either side, well except for the fact that I already knew I wouldn’t be sleeping that night. Especially because the feeling of being watched had returned as soon as I set foot out of my car which was, again, impossible. The site never tells the sellers anything about the buyers or transporters, so there’s no way he could have known where I was headed to and no way that he could have followed me. I hopped back in my car and started to head for home, hoping that a few tabs of melatonin would be enough for at least a few hours of sleep. And again, I could feel eyes on me as I drove and I saw his eerie smile everywhere until I hit the highway. I felt a weight lift off of my shoulders then, although I made sure to take the most winding path home that I could afford gas for (which was quite a bit after a job like that). By the time I did get home it was starting to get dark, and I had made a few loops around my apartment just to be sure I didn’t still feel his eyes on me. Luckily, my apartment building has a public parking garage attached to it so even if I was being followed I felt safe enough that nobody would be able to find my room. But Just to be sure, I took the stairs for the first time in months. Have any of you ever climbed seven flights of stairs out of paranoia before Rijento? Well in case you haven’t let me tell you what it’s like. Do you remember running up the stairs from the basement after turning off the lights as a kid? That feeling of unease and terror? Well it’s like that, but you aren’t a kid anymore. It’s not the dark or what imaginary monsters could be lurking in it that frightens you anymore. Instead, you’re worried about who could be hiding in the darkness, what real monster could be following you up those stairs… I’m no slouch when it comes to exercise but it still drained everything out of me hauling my body up those stairs on my hands and feet like an animal as fast as I could. I got inside and locked the door securely behind me, panting, covered in sweat, but I sighed in relief with the fact that I hadn’t felt anyone watching me at all during my climb. I took a moment to catch my breath, slumping down by the door and chuckling to myself while shaking my head. I couldn’t believe that I’d let that freak get so deep under my skin. Once I had caught my breath, I stood up and made my way to my couch before flopping onto it. I wanted nothing more than to go to sleep then and there, but I had to be smart with my money this time. I immediately cashed the Bitcoin out. Better to pay myself out in small increments, but I had bills to pay and I’d already learned my lesson about leaving things in Bitcoin. Once business was taken care of, I grabbed the remote control and flicked on the TV. The familiar faces of the local news anchors greeted me and I began drifting off to sleep while listening to the happenings of our city. It was around seven a.m. when I was woken up by the sound of the ‘breaking news’ alert coming on. “We are just receiving reports of a ghastly murder of one [yeah, I’m not gonna put her name or age here] year old college student living on her own. Police investigators say that several of her organs were found to be missing and that they found evidence of someone living in her home without her knowledge for quite some time before the murder…” The reporters kept talking about how much of a tragedy the situation was… But I wasn’t listening. How could I listen… I’ve never been less happy to be right then I was at that moment. I shuddered thinking about it. My thoughts and paranoia regarding the man I’d met the other day bubbling back up to the surface. It was then that the reality of what I’d done hit me like a freight train. By accepting that contract I doomed that girl to die… All because I needed some quick cash. I stood up and went to the kitchen and opened my liquor cabinet. Without looking, I grabbed a bottle of something with shaking hands and fumbled with the top while trying to keep my mind clear of thoughts. Once I had the cap off I took several deep swigs from the bottle, spilling quite a bit down my chin before I set it down and gasped for air. The burn of the alcohol in my throat gave me something to focus on while it worked its magic on the rest of my body. As my mind slowly clouded I found my way to a chair and found it easier to think about what happened without panicking. My first thought was that I needed to do something. I knew the guy’s face, I should go to the cops! It was at this moment that the… Less impulsive side of my brain kicked in. I go to the cops and all I do is give myself a one way ticket to an early grave. My employers don’t take kindly to police interactions. I slowly resigned myself to the fact that I was going to have to live with the consequences of this job for the rest of my life… I’m a coward, I know. Anyways, the next few days passed by slowly. I was… Not in a good place mentally and I’m sure you remember how much alcohol my cabinets were stocked with. I blacked out more than once only to wake up gasping for breath from drinking too much. It was honestly a miracle that I didn’t kill myself through alcohol poisoning. But I… Managed to come to terms with everything. Don’t get me wrong, I still had nightmares where I was the guy hiding in that girls closet… But I wasn’t drinking my problems away anymore, although I think that was more because of the fact that I’d run out of liquor than any meaningful character development. It was about a week later that I was able to get my first night of actual sleep. I didn’t dream about anything either so that was a plus. I know it probably sounds bad, but I was starting to feel normal again… Like I could maybe find a way to just be myself… Either way, even after all that I still wanted to keep my job. I just added a new rule: no organs. From there I fell back into more or less my old routine. I went to eat out almost every day though, I thought any excuse that got me cleaned up and out of my place was worth taking… And then, I began to feel it again. That skin-crawling sensation of eyes on me from somewhere that I felt the day I met Mr. Hide&Seek. I didn’t think much of it at first, I only felt the eyes when I was surrounded by other people so of course one or two would be looking my way right? I thought I was just guilty and paranoid. But no matter what I did, I would always feel like I was being watched whenever other people were around. So I started driving more and more and eating out less and less. Not driving anywhere in particular, just driving… I felt safe on the open road, I couldn’t feel any eyes on me… For about a week. It started small. A shiver down my spine here and there. A sharp sensation that made my eyes snap to one car or another. Then it came more frequently, and I began to get more and more paranoid as the feeling became stronger and stronger. I started driving less and less, and whenever I did, I kept my eyes on the cars around me. Trying desperately to find where that feeling was coming from. To find who was watching me… Trying to catch a glimpse of his face in a passing car. I even thought I did see him a few times… Except that was just paranoia… I hope. Eventually, I stopped driving unless I had to. I shut myself in my apartment, only going out to get groceries and always, always making sure that I didn’t feel anyone watching me before I parked. But that feeling would always find me whenever I went out. This went on for about a month. I started to drink again, I didn’t go out to eat or drive anymore. I paid someone to deliver my groceries to the garage of my building. All I did was eat, sleep, drink, and watch movies or play games… I’d be living the dream, if I didn’t think a serial killer was stalking me. Part of me believed that I was just being paranoid and to be honest I desperately wanted to believe that part of me… But not enough to stake my life on it. And after another week of living like a shut-in the feeling of being watched started to re-surface. Like before it started off small. I felt a ping of eyes on me and from then on I kept the blinds securely closed. Even then, the feeling persisted for days, gradually gathering in strength. So I emptied out all of my closets and cabinets daily… Eventually I just left all of the doors open and everything on the floor so that I could look in to any hiding spot in an instant… But that feeling still persisted. I stopped drinking because I was terrified of being attacked. I started sleeping less and less and when I had to sleep, I slept inside of my closet and barred the doors shut from the inside. I ate and drank only when I felt hungry and always with my back to a corner of the room or locked in my closet… But I could still feel eyes on me, feel His eyes on me the same way I had back at the park. It was about a month later when I finally discovered my haven. The one place left that I didn’t feel watched. The stairwell of my building. I found that whenever I went down and back up the stars to get my groceries – as I’d long since stopped using the elevator – that I would have a brief respite from the feeling of being watched. I started to spend all of my waking hours there, sat on one of the stairs without a care in the world. I only left them to eat and sleep and whenever I entered the building proper I would feel eyes on me almost immediately. But having those stairs to return to made my life almost bearable. It had been a long time since I had anywhere I felt safe, and like every place before it I kept waiting form the feeling of being watched to follow me into the stairwell… But it never did. For another month, I fell into a somewhat bearable rhythm. I’d wake up in my closet feeling watched, I’d eat in the corner of my kitchen feeling watched, and then I’d scurry off to the stairwell where I could blessedly feel alone – Especially near the top floors where the stairs were seldom used. But all good things must come to an end and all that, and while I never did feel watched in the stairs, I did run out of money. Apartments and cars don’t pay for themselves after all, and while I managed a few months on the blood money from my last job it was finally time to get back to work. In the months since I last logged on to the site, things had calmed down significantly and there were now plenty of jobs that didn’t break any of my rules… So I decided to go with a route that I’d done before a couple of times. A gun run. The seller always treated me to a drink or two at his bar and was also always well armed so I felt that it would be a nice and easy job that I could feel safe doing. After confirming the job I closed my laptop, pulled on a fresh set of clothing, and headed out the door. I wanted to get this over and done with, and thankfully the feeling of being watched was rather light that day. I do admit, however, that I lingered in the stairwell for a bit before heading out. I wanted a bit of time alone before being out in the open for the first time in months. Anyways, I hopped in my car after about thirty minutes of blessed stairwell time and headed to the bar. After about two hours of paranoid and twisting driving I managed to make it just on time and pulled my car into the alleyway behind the bar. The owner greeted me with a smile as I got out of my car, “T, long time no see!” he said, his smile fading as I walked up and he got a better look at me. “Holy shit man, are you feeling okay?” he asked, genuine worry in the eyes of the large man. “No… I’m pretty far from okay…” I said with an exhausted sigh. I could still feel the faintest hint of eyes on me even now, though I know that the owner wouldn’t let me be jumped at his bar. “It’s a long story,” I offered, realizing for the first time that it might be nice to actually tell someone what happened. “Is that so.” he said with a hint of a smile and a shake of his head. “Well, hows about we get you a drink while the boys get ready to load up your car.” He offered in return, making me smile. “There’s always plenty of time for stories at my bar.” He said proudly. “I’d like that…” I said with another exhausted sigh, managing to keep the smile up as he put an arm around me and lead me in the back door of the bar. “Oh, by the way, how did you hold up during the bitcoin crash? I heard it hit a couple of transporters pretty hard.” he said, making me chuckle as we made our way through the kitchen. “Funny you should mention that,” I said, making him raise an eyebrow, “because that’s how my long story star—” I began, only to stop short when I looked at the bar. HE was siting there, sipping on a beer without a care in the world. He noticed me out of the corner of his eye and that same sickeningly sweet smile crept onto his face as his eyes met mine. I froze. There was no way that this was a coincidence. There was no way that he just happened to be at this bar at this time. I was broken from my trance by the bar owner waving his hand in front of my face and saying my name, “Hello? T, you alright?” I quickly ducked back into the kitchen and started to hyperventilate. How did he know? How could he possibly have known that I would be here? Did he follow me? “Did who follow you?” The owner’s voice brought me back to reality once again as I realized I’d been thinking out loud. His face was concerned, bordering on scared. “How long has that guy been at the bar?” I asked, hoping that the owner knew who I was talking about. “If you mean tall, thin, and creepy then about an hour… What is going on T?” He asked, as I slumped against the wall. I started crying. I broke down and burst back into the bar only to see that Mr. Hide&Seek he was already gone. “I… I need to go. I need to get home!” I said, pushing past the owner and running to my car. He called after me, trying to get me to stay and explain what the hell was happening but I wasn’t listening. For all I know, Mr. Hide&Seek could be breaking in to my apartment already. I drove straight home and threw open the door to my apartment. It had still been locked, but I wasn’t taking any chances. I grabbed a knife from the kitchen and checked everywhere. But he wasn’t there. Then, my phone rang and scared the living hell out of me. I checked the number and gulped when I saw that it was blocked. I considered not answering but in the end I picked up the call. “H-Hello?” I asked tentatively. “T… What the hell happened at the bar?” a modulated voice rang through the speaker in my ear, making me wince. It was one of the site admins for sure. I was silent for a moment before telling the admin everything. I couldn’t see the man, but I could feel a sudden change when I mentioned seeing Mr. Hide&Seek at the bar. “T,” the admin began, a serious edge to his voice. “I need you to log in to the site… _Now_” he said, and something in me told me to listen. I booted up my laptop and hopped on to the site. As soon as I logged in a dialog appeared that I’d never seen before. ‘ADMIN would like to take control of this computer. Do you consent to this?’ With two buttons. One for yes. One for no. I clicked yes and watched as my cursor began to move on it’s own. “Thank you T. This will only take a moment…” the admin said, a practiced calm in his voice as he downloaded several files and began to do… Something on my laptop. A minute later a dialog box popped up that said, ‘Threat detected!’ and the admin sighed and his voice sharpened as he spoke. “T… You’ve been compromised. You’ve had a nasty piece of spyware installed on your machine, for about a month by the looks of things. It’s been recording your keystrokes and giving someone remote access to your camera…” the admin explained, making me gulp as I realized that all of my information was insecure. “B-but, there’s no way! I haven’t download anything!” I said, making the admin mutter something as a bout of typing could be heard coming through the phone. The admin’s voice was cold and calculated when he spoke next. “No… No you didn’t…” he said, making me gulp. “This software was installed via _USB_…” the admin said, making my heart nearly stop. Hide&Seek had been in my home! He had been here without me noticing and put that program on my laptop. Even after all of my paranoia, he still found his way into my room without me knowing. “I’m going to delete the program,” the admin said, and a few keystrokes later, “done… What the—” As the admin deleted the program, thousands of windows began popping up on the screen of my laptop. All of them saying the same thing… ‘olly olly oxen free’ After that, I threw my laptop in the trash and got a new one as well as a new phone, sim card and all. I was taking no chances. I got all new accounts for everything and the admin told me he revoked Mr. Hide&Seek’s membership personally. But I’m going to disappear all the same, I have a plane ticket to somewhere and my bags are already packed. Don’t look for me, and if you ever start to feel like you’re being watched… It’s because you are.
I've been trading now for probably 7 years. I got really into it at the tail end of High School, when I would trade low value stocks up based exclusively on the "buy low, sell high strategy" that I had learned about through cursory research. At the time I was trading maybe only $50-$100 here and there, just to test the waters. My DD consisted of one thing: looking at the chart for 5 minutes and deciding whether or not it was a good idea to buy based on what the little squiggly line looked like (these were the days before Robinhood back when there were more than 3 settings for TA). I made a few good plays... so good, in fact, that I doubled and in some cases tripled the small amount I wagered. This wasn't overnight either—it often took a few weeks or months to happen—but needless to say it was pennies. But at that point I realized the potential: I was hooked. All I had to do was click a button (again, before Robinhood, so yes I actually "clicked") and my money would double in a few weeks! I didn't have to do anything but sit back, relax, and watch my $$ multiply. Obviously, this was more fluke than trend, otherwise I wouldn't be writing this post. As I continued, I began to realize, albeit slowly, how complicated the superstructures of trading really are. It's a far-cry from being as simple as "click buy, click sell." You have things like commissions to consider (remember those?), stocks to choose, investment strategies to decide on, risk profiling and diversification, moral guidance for investments, algo trading bots/software, just to name a few. Not to mention the most significant variable: the market is alive. For every trade you make, there is someone you are trading with. Someone on the other side who has the exact opposite strategy as you have in that moment. Someone you're constantly fighting to win. I'm generally an adaptable, hardworking, idealistic person (I now realize these are probably the worst traits for a successful investor to have). It's been my experience that the more you put into something, the more you get out of it. It's worked with all of the real things I interact with, so naturally I let these behaviors lead my investment experience. I would place a trade and, thinking that the more I watched the markets the more responsible and hard working was being, would be glued to the screen from open to close. Further, every time I learned something new about the market I tried to adapt my strategy to cope. I realized that it's much easier to make a $15 commission back on a $1000 investment than a $100 investment. Especially if I'm investing in something more volatile, right? Well, this quickly led me to pink slips, and from there into obscure, baseless "investments" in now mostly defunct companies. But I would always cling onto the hope of landing a good trade, which sometimes happened. Mostly, though, I kept losing money. I realized that my strategy was failing, so I decided to stop investing in stocks. It was time to move onto something more productive, like making an honest living. So I worked for a few years, and then my life transformed. My dad died, quite suddenly, of a heart attack. I still lived with him and performed CPR, but we still lost him. The trauma of that evening broke my brain, and I felt that the only way to fix how I felt was to make something equally as life changing happen, except good. So I went to the only thing I knew--trading, which quickly transformed into even more speculative crypto trading. It happened to coincide with the crypto boom in 2017, which threw my portfolio in a crack-crazed blitz to the moon. It was happening! I finally had figured it out! My life was going to turn around and I was going to retire on a mattress stuffed with bitcoin. And then as quickly as it was there, it disappeared. Largely because crypto is a baseless and extremely complicated & volatile asset that no one really understands. But also because I kept chasing. I kept chasing the feeling of gaining; knowing that my approach had led me to success, I kept at it to find more success. Then came Robinhood and Options trading. You get the story by now. The combination of my ambition, idealism, and broken heart led me to lose almost all of the money I've made in the last 7 years. I'm down $130k. I wish I had a more heroic story to tell, because engaging the markets truly felt heroic—especially on the 100%+ days. But at the end of the day, I spent $130k to lose 7 years of my life. And my dad isn't coming back no matter how much money I make. The markets are a beast of our own making that represent human psychology and behavior on a macro scale and almost always emphasize the negative elements of human capacity. We have created a phenomenon that enslaves us in isolation and addicts us to hope, yet remains completely separate from the real world. It's effectively a sink for our emotions, resources, and time; one where we are encouraged to live by our worst tendencies in a Wolf of Wall Street-esque hedonistic dystopia. Any wealth that comes from the markets just builds on the current financial inequities we are victim to--enabling the uber rich to get richer. So, I'm done. Time to spend my time and energy doing something real. TL;DR: Lost money. Don't lose money like me.
Bitcoin a Natural Disaster born from delusion and maintained on greed
YouTube usage over a year is about the energy usage of Frankfurt. https://www.fastcompany.com/90360528/the-code-that-powers-our-lives-has-a-hidden-environmental-toll This article conveniently does not mention any blockchain technology (Maybe because it's such a hot fad, and doesn't want to make the "cool" rich kids look dumb). https://digiconomist.net/bitcoin-energy-consumption One Bitcoin transaction is estimated to be 53,124 hours of YouTube videos. Other applications of blockchain technology will essentially be much less efficient than YouTube. Bitcoin and blockchain is the most destructive, and negligent technological movement that is occurring in the world today. They really is no long term objective for most of you other than turning your Bitcoin into a large sum of fiat, so you can buy a lambo. It's not the available and efficient Central systems that are the greediest, it's this social cult of wannabe rich crypto dystopian technos with 10 mining PC's running 24/7 at thier house wasting power from the grid, using natural resources. Satoshi Nakamoto was smart he never intended for Bitcoin to be mainstream. It's was for discrete unlegislated transactions. Now it's about spreading lies and trying to get fiat rich from this crypto stock. I'm a computer scientist, I make open source applications. I am capable of remaking, info list applications (Facebook), or video bucket applications (YouTube). They really don't hold any other power other than they are the popular ones to use. The technology is not much different either way. I can encrypt anything with a strong 4096bit key with only a terminal. If I really had data that needed to be private I could make it happen. You can apply your own end to end encryption on ANY current platform you like. If that's something that you actually need or would spend 30 minutes learning how to do. People have a fear that thier data is being milked from them and used maliciously, even if they are unhesitatingly delightfully participants with these systems, with very little consciously malicious results over a long span of time. Ie. Thier fears are irrational and unfounded. Which is very similar to the fears, or delusions, of central banking systems. Are they perfect? Maybe no, but do they use 53k videos electrical use for single transactions? No. I understand the math behind the blockchain, a solution to the double spending problem. That is all that is new. This solution incentives attacking the infrastructure, by brute Force computation. Any computation no matter how clean the energy is. Certain clean energies simply do not keep up with dirty ones. Solar, or wind, for instance would be very hard pressed to sustain the power consumption of 53k YouTube videos. I hope we are at a shifting point of understanding climate change is a real problem, even if a bit late. We know we have to get in these clean energies. People's homes, and lives will have to transfer and be powered by these energies. However these energies currently cannot successfully support the grid, legitimate use or otherwise. People having crypto mining PC's running 24/7 does not help things, despite all of the smart ass bs you will hear on Reddit. There is no guarantee that any of the energy used is clean, just with any other application of electricity. They will say that US central banking uses three times the electricity use of Bitcoin. Bitcoin has globally maybe around 6mil users the US population is 327mil. Let's just say that Bitcoin has 1/100th the amount of US users. If it became 100% used, that would make the energy usage 300x what the current US central banking system uses. Would clean energies even support that amount of use? It would be substantially more difficult transition to achieve. I would say this is what the entire blockchain movement is, it's not about more freedom, or actual beneficial systems for society. it's just about profit. You can see this phenomenon as this group, decentralized revolutionaries, that would normally utilize science, irrationally defend and slowly come to deny climate issues, when it conflicts with what they have investments in. They call the legitimate climate research FUD now... Now Reddit, I will let you commence your unscientific, economic jargon filled, bot like, social puppeterring, replies and down voting, just for me expressing my opinion and connecting truths and realities. What a more unoppressed and equal society Bitcoin, blockchain, communities are...
The Crypto King Report Jan 11th: FUD Korea, ETH Fork, Buying Strategies, Favorite January Plays, Forking moves!
The Crypto King Report Jan 11th: FUD Korea, ETH Fork, Buying Strategies, Favorite January Plays, Moonshots, Forking Forks! "South Korea Confirms there will be no trading ban" Thanks for the cheap shares :) I appreciate all my loyal followers! I am trying to build a social media presence and would love if you followed me on Instagram and Twitter as well! For tips and strategy hours before being posted to the message boards follow on Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/qTjQp8W (join the group to reach me directly and see posts early, moonshots at 6am EST when available!). If the title is a foreign language to you read my Cryto-101 post and let’s go from there: https://redd.it/7m48ne . See posts first in the new Subreddit: TheCryptoKingdom. Remember in trading minutes matter, hours are eternities. The focus of today’s post will not be moonshots given the crazy macro events we are having this week but given my Kingdom’s cojones demonstrated yesterday by holding strong (1000s strong!) we were able to ride out the FUD news without any major losses. As a present to the Kingdom there will be a moonshot available to everyone regardless of your status in the Kingdom at 6am EST Friday morning. Let’s make this a weekend to remember following a night we’d rather all forget! So for today no moonshot (it is ok, move some $$ aside for the pick tomorrow it will be released bright and early on The Kingdom’s discord: https://discord.gg/qTjQp8W (to join us stop by 6am EST for moonshots or to discuss crypto while at work!). If you do want to join us for our moonshot (we’ve hit 800%ers in 1 week) it will be on KuCoin and released tomorrow. Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M Yesterday at approximately 9:30pm news started circulating that top exchanges in Korea were being raided and that Korea was going to ban all cryptocurrency trading. This plummeted the overall price of all cryptocurrencies, especially altcoins, 30% in a matter of minutes. The crazier part is the ensuing panic. There was so much frenzied selling due to weak hands (not in my Kingdom) but weak hands, that the prices were allowed to be driven down 30% in minutes. What happened next you ask? No more than an hour later the news was proven to be false. YES, Korea like every first world country would like to receive taxes from crypto traders but by no means has crypto trading been completely outlawed as the FUD news pretended to suggest. This was a major FUD attack and I’m surprised major news outlets were able to take place in it. What is more surprising is that the governments of the world are allowing this type of manipulation. How could this “fake news” lead to market crashes everywhere yet there be no repercussions? This is why I feel that regulation would possibly harm the crypto world, but would also greatly benefit it. These types of malicious attacks would be prosecutable vs just a way to accumulate cheap crypto. However, the lesson remains the same. Ride out the downward trends and if you want to leave the market always sell in an upswing. The best part about FUD attacks, they usually proceed market ATH…the best part about forks…they also usually proceed market ATH. This week we’ve seen multiple FUD attacks on the crypto market as a whole and individual coins. In approximately 8 days we will have the first ETH fork in a long time. The current ETH that so many are accustomed to is not the actual ETH that was first released. First it was “ETH Classic.” The current ETH was a fork of the original ETH as the original became more obsolete. BTC has regular forks for a multitude of reasons. ETH on the other hand only has forks for specific reasons, and they are rare. I believe this fork will be valued higher than most expect, and may eventually surpass ETH as a coin market cap (a bold statement that will need at minimum 6 months to play out). Either way we know the ETH fork is happening in a week, and at a bare minimum will provide a 10% dividend with the ability to appreciate into something much more valuable: source http://etherzero.org/etz.html?id=1 I personally am leaving all my alts as HOLDS and any ETHER I have leaving it in ETHER to either do last minute shopping the day of the fork, or to take the 10% fork (‘dividend’). The choice is yours what to do, I hold especially during dips in the market (and buy if you can). Now is not the time to sell a single alt. ATH (all-time highs) follow these dips, I expect a new ATH for many of them by our January conferences. With alts very cheap I need to reiterate the importance of shopping during these dips! The FUD attack impacted Asian coins especially much but similarly they should recover at an ever greater rate of speed. South Korea’s ministry of Finance said they aren’t banning BTC and are looking just to tax it, and that the U.S. news blew it WAY out of proportion. Someone wanted cheap shares, no one better have sold! This is when scared money flees alts, the ones that go up 500% in 2 weeks. Everyone who has liquidity should be doubling down on HST, EVX, BNTY, ELIX, PURA, DBC, DRGN, SNOV, KCS, and any other low priced alt you believe in on KuCoin. Traders are still flocking to KU at an unprecedented rate and the moonshots will continue to moon. The entire market is red right now, when the rebound occurs our rebound will be much more significant than that of BTC and most alts. To buy these alts (they are taking new traders) use my KuCoin link please. Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M Every moonshot listed above has been explained in detail for why it should succeed. I am most bullish on HST and EVX, I expect them to have the largest short term recovery. BNTY and DRGN have had the highest % gains thus far but have very strong platforms, DRGN is Disney on the block chain, and BNTY is bounty hunting on the block chain. 2 very cool concepts. ELIX and PURA took huge hits when the market crashed yesterday and since are greatly undervalued compared to 95% of other alts. SNOV IMO is about where it should be, although given its upcoming calendar it will appreciate the value greatly this month. Decide for yourself which moonshot should be doubled down on at this time, I’ve chosen HST, EVX, and ELIX to double down on. The rest I am still holding through this storm. If you do not like any of the current moonshots, which should be impossible they are all at great discounts right now, there will be a new moonshot released tomorrow at 6am on Discord, the good news is at these depressed prices it’ll be hard being wrong about tomorrow’s moonshot! Play for today: Add $$ to KuCoin (if possible) and double down on all moonshots (or if you are following me in particular, heaviest % in EVX and HST, plus ensuring you have some available for tomorrow’s moon). Very excited for tomorrow’s 6am EST pick on Discord, and expect almost immediate appreciation due to the drop in value of the entire altcoin market right now. Join the Kingdom! https://discord.gg/qTjQp8W (Some info on January's Buy and Holds has been repeated they remain: STRAT, ICX, and NEO) Binance occasionally let’s new traders sign up, if you haven’t tred, definitely try to get on: https://www.binance.com/?ref=15316928 One of my favorite safe plays for the rest of January remains NEO (BUY and HOLD). Even with the FUD attacks in Asia this is their dominant player. NEO is an important hold (and accumulate) in all portfolios as it is hands down the Asian Ether. NEO has one of the biggest January’s of any coin and is up over 100% since I recommended it originally. NEO has meet-ups in Dublin, Hamburg, Amsterdam, and London the first two weeks of January. Everyone sees the upcoming calendar and realizes the next 2 months will provide more exposure than any 12-month period in crypto history. NEO is the latest addition to the buy and HOLD list. They end the month of January speaking at 2 of the largest blockchain conferences in the world. This will be one of the strongest plays for January 2018. I would slowly stock up on this one on dips (especially on days like today!). DBC a coin on NEO’s platform (a prior moonshot up 100+%) is also speaking at this convention! STRAT (BUY and HOLD). I truly love talking about this coin. I enjoy my % returns on moonshots but this tech, the team, the coin, and especially the 1-month vision I truly believe in. I have an interesting update!!! STRAT is developing a Breeze wallet with Tumblebit which makes Bitcoin transactions private through the STRAT network. The biggest problems with BTC is its transparency and its speed. STRAT will help alleviate the transparency aspects for those who want to conceal how much they send/receive. A wallet that manages to conceal your BTC holdings (makes it similar to privacy coins). STRAT’s money for advertising has been saved with the anticipation of a high volume publicity campaign upon release of their new wallet and ICO platform. Once funds are spent advertising the STRAT ICO platform, their 2 flagships are announced, and their wallet is functional (all happening this month) I expect the price not only to trend north but more than double if not triple. I wouldn’t be surprised to see 100%-300% returns on a fairly safe crypto investment (normally the riskiest coins provide this monthly). Their twitter confirmed the 2 ICOs coming out in the next few weeks, when the official announcement is made we are looking at 100-200% gains. 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, then their wallet and advertising rollout. This should be a very positive 2 weeks for STRAT. As the crypto market continues to expand, the need for new ICO platforms will expand as well. This is my safest, favorite coin for January. They are also extremely active on their Twitter updating and hinting at the 2 flagship ICO launches, this type of hype building increases market cap! ICX (BUY and HOLD) Has been pounded downward the last 48hrs especially with the FUD news out of South Korea. The great news is their conference is perfectly timed following the ETH fork and allowing enough time to pass from this FUD attack for the price to correct. These coin founders are smart they understand when to release news to increase the value of their coin the most. This is again a good opportunity as it dipped, as the whole market did, to buy as I am still very bullish on this coin. The price will trend north until the end of the month where the blast off will occur. The Koreans love this little coin so much it is hosting its first blockchain conference in the tallest building in Seoul at the end of January. This will be enormous exposure for a coin which Koreans are already in love with. Their mainnet although once delayed was promised to be released prior to their January conference. Based on big news and Asian trading volume this should continue to trend North. Asians trade more than Americans. Koreans are the highest volume trading country in Asia, and they happen to love ICX. ICX should continue to trend north leading up to their conference in the end of January. This is an accumulate on dips until the January 25th conference. I am not sure we will see many more dips unless BTC has a run to 25k but continue to accumulate, this should trend north toward $20 by the end of January. Time for ICOs, although they tie up your funds for 1 month they are the closest thing to a guaranteed moon as a successful ICO will be worth 6-10x its original market cap within 4 months. ICO’S : STORIQA: “The Amazon Cryptocurrency Marketplace”. Great team, great platform, easy to sign up for ICO (even for U.S. investors). Well past their soft cap and approaching their hard cap! Discount for bonus coins still available in the short term! This has been on and off of my rec list but because they are approaching their hard cap I figured I’d give everyone one last opportunity to sign up! Referral link : https://tokensale.storiqa.com/?ref=6663944dff31989391d803ce KYC Legal: KYC Legal (please use the referral as I make no $ spending countless hours researching these ICOs and coins ) referral: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 Know Your Customer (the dreaded KYC form). If you’ve completed an ICO recently you know the form I’m talking about. The form they give you at the end, after you’ve sent your .5eth but before they will release their tokens. Basically stating you understand this market is unregulated, etc. Well a blockchain token has in essence solved this problem. I HATE KYC forms and if the KYC system was set up in a way in which you wouldn’t have to fill out that form repeatedly for every ICO it would be more convenient for all investors and ICO companies. KYC Legal intends to do just that. According to the founder DR, “This is a simple and quick way to complete client identification procedures, which can then be used to verify the client’s identity during various financial operations (so-called KYC (“know your customer”) requirements that financial institutions and companies working with the money of private individuals use to identify and verify counterparties before starting a financial transaction). This niche is completely untapped and I HATE KYC forms enough to think this is a brilliant idea. They are calling it a “Universal alternative to Personal IDs,” on the block chain. Brilliant concept and there are 2 days left to receive the 38% discount from the final price. A 38% gain prior to token sale completion is significant, imagine what will happen when the hard cap is reached and it hits the first exchange. KYC Legal: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 Other coins to own for January! (Besides ICX, NEO, and Moonshots!) All below information has been updated on Thursday at 11am EST. This will help individuals follow what information has been repeated/edited. January Buy and Holds Stated Above: ICX, STRAT and NEO (moonshots are different than 1 month holds, those you plan on mooning 5x-20x, these should appreciate 40-200% in 3 weeks). TRX (BUY) TRX has been a target of FUD attacks for almost a week slashing the price by almost 50%. Many coins prior to huge pumps are FUD attacked. With a game coming out this month and a huge drop in the alt market I expect TRX to come storming back. They’ve monetized gaming and it’s level of success will be felt within the next few weeks. I do not know if you played Cryptokitties but it crashed the Ether network. TRX is a much faster and less expensive network to process information on. I expect the game this month to be the second that monetizes gaming through cryptocurrency leading to TRX’s short term success. I’d expect another 100-300% returns leading up to the release of a game on their TRX platform. TNB (BUY) Although the price has increased almost daily there is good reason for it! TNB has a BETA version of the Android and IOS wallet being released this month. This is one of the few coins that didn’t take a beating yesterday. Being able to take your funds with you is exceptionally important. Having a good looking interface is equally important. TNB looks to accomplish both tasks this month. It is also one of the cheapest coins on Binance, a plus for those looking for cheap coin acquisitions! I like TNB as a cheap Binance coin with truly significant potential. My 3 favorite short term plays based on conferences for the next 2 weeks are: WAVES, ARK, and SONM. These 3 are all at events in the next 2 weeks of January (Waves and ARK are at a conference in Miami I will be attending!). The cost of attendance to these conferences start at $1,000 (I will need tips to cover costs !). However, they provide exposure to the top individuals and founders of coins with billions of dollars in market cap. In comparison to other coins speaking at the largest January events WAVES, ARK, and SONM’s price has not appreciated this week in correlation to the others. They are also the smallest market cap coins presenting at these huge conferences. This provides an opportunity to purchase WAVES, ARK, and SONM at an undervalued price. As their conferences in mid-January approach I expect their price to trend north rapidly, peaking on the day of, or day after the conference. These should be focal points if you shy away from moonshots (which you shouldn’t!). XEM(BUY), They had their pop 2 days ago and have since decreased with the rest of the market!! This is one to own for the next 8 weeks. Their upcoming hackathon should provide publicity for a 2 straight months. Each coin has a specific reason for their being undervalued. Catapult, which is version 2.0 of NEM is to be released very soon. 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. POWR(BUY), Is one of the few coins supported by an actual government (Hi Aussies!) A county that struggles with power grid failure could succeed in implementing the first cryptocurrency related directly to trading power and electricity on the blockchain. I expect a strong future from POWR. Expect to see significant returns in the next 72hrs while the alt markets come back with force. ADX (BUY), has had an impressive run but taken a recent dip. It remains a favorite of mine for multiple reasons. One of my favorite parts about ADX is 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. ADX wins because NEO wins, Asian markets enjoy trading even more than the U.S. currently. This trend should continue as ADX continues its trend north. Their next partnership or announcement will lead to the next big pop in price, but as far as a coin goes, this is a safe option with stable returns that has a functioning and profitable platform. ARDR(BUY) Honestly, Bittrex is beginning to frustrate me (as I’m sure you too!). I haven’t received my IGNIS and ARDR has been unable to be sold, bought, or transferred in weeks. I recommend moving $ to KuCoin and enjoying these insane %s. However, currently like many of you I have a large holding in ARDR which I still believe strongly in but would like the opportunity to sell if I choose! Their platform successfully launched Jan 1st. 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. I believe ARDR and its new network will experience positive publicity and a successful launch of IGNIS. I would continue to buy and hold as the ARDR network gets rolling. ENJ (Update For a Follower): I still own 50% of my position but with news on this one very quiet I reallocated some of my holding to KuCoin for more moonshots (they've been the highest returner to date). I do believe they will continue to appreciate due to their Minecraft plugin and gorgeous wallet platform. See you all in the Kingdom at 6am EST on Discord! Proud you survived last night and your cojones are growing. The Kingdom will not be manipulated by FUD attacks we HOLD strong. Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 4 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? ETH: Address: 0xdef6b4415635d15b0dc50e7039ef73c33e622f22 LTC Address: LiTtwXUMCMmch5oKUXfrXMqXWnG6jLg3qD BTC Address: 1LFLx3cXD1xiqCrupZJKf8p6pR23JRZWtP DASH Address: Xi9637XDyW2Q6wtRyGLsNXbJHj4UZ2M3kN (cheapest way to send!) KCS Address: 0x56d0a5b42a8313c36d8fe7a37ee3ccade7e4e6e1 XMR Deposit Address:44tLjmXrQNrWJ5NBsEj2R77ZBEgDa3fEe9GLpSf2FRmhexPvfYDUAB7EXX1Hdb3aMQ9FLqdJ56yaAhiXoRsceGJCRS3Jxkn XMR Deposit ID: b72e438346259f2828feaec4b04f0a95034b6364853f6f33d2370f57a37a1753
The Crypto King Report January 10th The Grass is Greener in the Kingdom: KuCoin Picks (Today’s Pick: HST), NEW ICO Picks (2 New Ones!) BNTY (800%), KCS (500%), DRGN (600%), DBC (150%), ELIX (100%), SNOV (150%), PURA, EVX, STRAT, NEO, TRX, POWR, ADX (NEO link), ENJ(Wallet), ICX, XEM, and ARDR
The Crypto King Report January 10th: KuCoin Picks (Today’s Pick: HST), NEW ICO Picks (2 New Ones!) BNTY (800%), KCS (500%), DRGN (600%), DBC (150%), ELIX (100%), SNOV (150%), PURA, EVX, STRAT, NEO, TRX, POWR, ADX (NEO link), ENJ(Wallet), ICX, XEM, and ARDR 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/qTjQp8W (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 . See posts first in the new Subreddit: TheCryptoKingdom. Remember in trading minutes matter, hours are eternities. I wanted to start this post with saying the Kingdom has grown incredibly fast. The amount of requests and messages these last few days have grown exponentially. Before I delve into today’s topics I wanted to reach out and say thank you to all of those that show positive support and learn from these posts. If you couldn’t tell these posts are put together for free daily, and take hours to compile the information, and even longer to write it coherently and eloquently. On my Discord I have Donors that help make all this possible. Here is a thank you to all of you that have allowed me to continue researching and providing strategy in a shill laden field! January Market Updates and 1-Month Holds: STRAT, NEO, ICX These can be looked at as a buy and hold regardless of news or price fluctuation. Everyone wants to be a day trader but if you miss the 100% pop will the 8% you made day trading be worth it? For some coins yes, the fluctuations are significant enough that day trading makes sense. However, for those who want the ability to hold an alt coin for more than a few days with the expectation of it beating the market returns of BTC and other alts you have to understand the market conditions and what the future holds. No one is perfect, but as we all know ETH has spiked greatly this week due to its upcoming fork. If you do not understand why that would be, baby steps, I will explain that in a future post (forks and their Macro market impact is an entire post on its own). We also had negative news come out of both China and Korea this week. Given Asians are the top traders by volume the one place we do not want bad news in Crypto, is Asia. So what we are experiencing is a double whammy, ETH is up and negative Asia news has driven alts down. This has happened many times in the past including as early as 10 days ago with the BTC forks and the alt market crash. When forks occur investors move money from alt coins to the “forking” coin, in this case ETH. Therefore, all other coins will dip as investors are specifically seeking to purchase ETH for the short term. That coupled with negative Asia news places us where we are today, 2 red days . However, if you were holding a diversified portfolio of my picks from this week we are actually up a solid % from the last 48hrs instead of the bloodbath most alt owners are dealing with. Update Binance is accepting new traders again: https://www.binance.com/?ref=15316928 Now that that market updates have been discussed evaluate January HOLDS! (NEO, ICX, STRAT) (Some information is unchanged as I am buying and accumulating throughout January) NEO (BUY and HOLD), is an important hold (and accumulate) in all portfolios as it is hands down the Asian Ether. NEO has one of the biggest January’s of any coin and is up over 100% since I recommended it originally. NEO has meetups in Dublin, Hamburg, Amsterdam, and London the first two weeks of January. Everyone sees the upcoming calendar and realizes the next 2 months will provide more exposure than any 12-month period in crypto history. NEO is the latest addition to the buy and HOLD list. They end the month of January speaking at 2 of the largest blockchain conferences in the world. This will be one of the strongest plays for January 2018. I would slowly stock up on this one on dips (especially on days like today!). DBC a coin on NEO’s platform (a prior moonshot up 100+%) is also speaking at this convention! STRAT (BUY and HOLD). I truly love talking about this coin. I enjoy my % returns on moonshots but this tech, the team, the coin, and especially the 1-month vision I truly believe in. I have an interesting update!!! STRAT is developing a Breeze wallet with Tumblebit which makes Bitcoin transactions private through the STRAT network. The biggest problems with BTC is its transparency and its speed. STRAT will help alleviate the transparency aspects for those who want to conceal how much they send/receive. A wallet that manages to conceal your BTC holdings (makes it similar to privacy coins). STRAT’s money for advertising has been saved with the anticipation of a high volume publicity campaign upon release of their new wallet and ICO platform. Once funds are spent advertising the STRAT ICO platform, their 2 flagships are announced, and their wallet is functional (all happening this month) I expect the price not only to trend north but more than double if not triple. I wouldn’t be surprised to see 100%-300% returns on a fairly safe crypto investment (normally the riskiest coins provide this monthly). Their twitter confirmed the 2 ICOs coming out in the next few weeks, when the official announcement is made we are looking at 100-200% gains. 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, then their wallet and advertising rollout. This should be a very positive 2 weeks for STRAT. As the crypto market continues to expand, the need for new ICO platforms will expand as well. This is my safest, favorite coin for January. They are also extremely active on their Twitter updating and hinting at the 2 flagship ICO launches, this type of hype building increases market cap! ICX (BUY and HOLD) ICX has had about a 50% run this week and continued to perform yesterday. This is again a good opportunity as it dipped, as the whole market did, to buy as I am still very bullish on this coin. The price will trend north until the end of the month where the blast off will occur. The Koreans love this little coin so much it is hosting its first blockchain conference in the tallest building in Seoul at the end of January. This will be enormous exposure for a coin which Koreans are already in love with. Their mainnet although once delayed was promised to be released prior to their January conference. Based on big news and Asian trading volume this should continue to trend North. Asians trade more than Americans. Koreans are the highest volume trading country in Asia, and they happen to love ICX. ICX should continue to trend north leading up to their conference in the end of January. This is an accumulate on dips until the January 25th conference. I am not sure we will see many more dips unless BTC has a run to 25k but continue to accumulate, this should trend north toward $20 by the end of January. Ahhh everyone’s favorite part of the day (mostly because 75% of my moonshots mooned in 1 week or less ) Today’s Moonshot KuCoin Pick: HST Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M HST is my moonshot today and is currently located on KuCoin! The reason I like HST so much (besides it being undervalued, down 20% over 2 days, and a low market cap on KuCoin) is what HST stands for. It is a decision token that specializes in voting. Being from the U.S. I was just a part of an election they are still trying to unravel. If voting was done on the blockchain which is what HST created we wouldn’t have to worry about government bodies manipulating votes and year-long investigations that go nowhere. Long story short, HST is undervalued, has a very small circulation of total coins, should recover a minimum of 20-30% due to alts being down the last 48hrs, upcoming conferences, and KuCoin’s open membership will flow $$ and new traders into these coins! I believe HST should skyrocket as it gets added to new exchanges (as DBC did 48hrs ago, 50% for being added to Huobi and I told you guys about it a week ago). HST, will go from being in a niche market to one that is readily adopted by most governing bodies and employment groups that require voting. This was a year of election disasters(and fraud) and I presume the blockchain will help benefit the voting structure of governments and businesses alike. With a market cap of around $100million I expect this to be a billion-dollar market cap coin by Q1’s end. (Prediction: 10x in value within 2.5 months). The entire market is supressed right now because of the ETH fork, this one should be spring loaded to pop once funds flow out of ETH following the fork. Individuals that aren’t only traders and investors in the blockchain/crypto world understand valuable tech. They understand the purpose of what blockchain was supposed to do with governments and financial institutions. BTC was created (anonymously) following the 2008 market crash (housing, stock, etc). The populations of the world were too reliant on debt laden governments and private national banks. Voting was a mess and underprivileged people around the world had no access to money because private banks and governments did not care to provide small loans or to care for the most impoverished people. From here coins like EVX and HST are born! HST is my moonshot for today and I expect it to appreciate heavily following the upcoming alt correction. However, I would also make room in your portfolio for yesterday’s suggestion: EVX. EVX is unique because it fills multiple niches that other coins with a market cap 10x its size on 3 large exchanges do. EVX ensures you can use foreign currencies to directly buy EVX coins (in case you didn’t want to use crypto) directly from their wallet platform. They allow instant money transfer across borders specializing in micro loans to underdeveloped parts of the world. They provide direct payments and lending services at a fraction of the cost of other blockchain companies. EVX combines the benefits of 4 or 5 of the top 20 cryptocurrencies. EVX is a payment platform, lending platform, money transfer service, and foreign currency exchange specifically designed for the underprivileged and underbanked. With a market cap of $98million as I’m writing this I fully expect it to appreciate to above $200million following the market correction from the negative Asia news and the forking forks. Many coins on exchanges are working on their Alpha or Beta version of their platform, EVX has its platforms working, it’s coins being exchanged, and is looking to land on a bigger exchange. While unheard of amounts of $ are flooded into KuCoin, coins like EVX should begin to moon immediately following the market correction. I expect EVX, HST and PURA (Monday’s pick) to join our list of Moonshot winners as we approach the conferences, and as the market over corrects from a forking fork and negative Asian news. The Chinese food will be late tonight! (This is a joke, if this offends you I am sorry I make fun of lazy fat American using Coinbase all the time). The last 48hrs of the market has been a bloodbath. I am most proud that those reading have learned how to HOLD as our specific coins, moonshots, and favorites that have been posted about have actually managed to not lose an overall % if you were diversified. This means we’ve created a Kingdom of HOLDERS with Cojones. I am proud of this fact! The whales will not be able to take advantage of Plankton forever. Regarding moonshots that have already entered the outer atmosphere…KCS will continue its dominance as KuCoin is one of the few exchanges accepting new traders. Another very positive thing for us KuCoin early entrants is that Binance (started accepting again ‘ocassionally’) and Bittrex have suspended allowing new traders. That means guys like you are flocking to alternative exchanges (like KuCoin) to get involved in the crypto world. KuCoin has increased their daily volume every single day for the past 2-week, their twitter eagerly displays this info, and they updated their servers to handle significantly higher trading capacity. More money flowing into altcoins means the market caps will increase accordingly. Look for our moons to continue mooning. Remember moonshots are NOT to be day traded, they will likely end up on major exchanges which is when they will have their true moon. You could have made 70-100% on DRGN, BNTY, or KCS my first week posting moonshots, but if you held them, you would have made 600%. I have increased my portfolio % in moonshots as they’ve been outperforming all other sectors of crypto. This allows me to HOLD while still finding new moonshots! Remember Princes and Princesses of the KINGDOM HOLD through the red day. The reason our moonshots haven’t dropped in value is the whole KINGDOM is not selling. I am proud you’ve all lost your training wheels! HST and EVX are the undervalued moonshots I am doubling up on! PURA is a coin predominantly traded on KuCoin and my pick from Monday! It’s trading at 4000 Satoshis at 10am (as I am writing this), I expect 5500-8000 Satoshis to be approached if not surpassed by the end of the week (depending on when the market corrects to the Asia news). There are minimal sell walls and this one should be off to the races once a few big buyers are holding. In September PURA updated their systems to have INSTAPAY, PRIVATEPAY, MASTERNODES and FAIRMINING. Unlike the ridiculously slow BTC, ETH and LTC network PURA lets you send coins instantly (seconds literally). This is what makes INSTAPAY so impressive. What about Privatepay? It lets you send the crypto using a private wallet. MASTERNODES allow anyone to mine PURA on their computer creating a larger PURA network. With a wallet already out, a mining platform set up, one of the smallest market caps on KuCoin (98million), and ways to send crypto instantly and privately I expect PURA to rival many of the larger cap coins. If PURA makes it to a larger exchange I see an easy 3x here. If PURA hits $1billion as a market cap which is very achievable within months of arriving at a larger exchange this coin will be a 10xer. Finding coins that can appreciate 10x with an exchange listing and minimal news is a very difficult thing to find. PURA may be with the company of DRGN, BNTY and KCS, time will tell. SNOV was my pick 2 days ago and it appreciated nicely (a nice 50% run yesterday). It is still a favorite of mine with room to grow. Their calendar shows a very VERY active January and I expect the publicity to continue to increase the coin’s market cap. Yes, we’ve all experienced a nice gain and I always follow my rule, pigs get fat, hogs get slaughtered. However, we have to compare SNOV to other recent moonshots. Anyone who has sold a moonshot to date has lost out as my first 4 picks KCS, BNTY, and DRGN are up the highest %s. This demonstrates that HOLDING is as important as monitoring important times to buy and sell. I’ve added $$ (well BTC) to KuCoin as the opportunities here are much more significant than on Binance and Bittrex with new $$ and traders flowing in and new coins being listed regularly there are endless possibilities. 3 days ago money flooded into BTC as you could see in the BTC price rise. I predicted this 48hrs prior that institutional money would get involved within the next 72hrs, and we had our 20% BTC price climb. What happens immediately following a BTC price climb? The alts respond! I expect SNOV, PURA, EVX, and HST (today’s!) to all respond more significantly to the market rise because unlike BNTY they have yet to have their 700% price climb. HST should begin its trend north once the public realizes how undervalued it is, how much it can change society and voting, and when these ETH forks are over. EVX is my moonshot from yesterday with a likely correction to the on sale prices occurring this afternoon or following the ETH fork. PURA should have one of the highest return rates in the next 72hrs when compared to alternatives on KuCoin. However, SNOV should continue to trend north as new traders flock to KuCoin snapping up cheap shares. BNTY should continue its rise as it gets added to a new exchange and provides actual bounties for digital tasks (so cool!). DRGN is not left to die by Disney and is leading the charge to get on Binance (they also have a production deal coming up!). I am extremely bullish on DRGN even at a 600% increase this week. I expect a Disney associated press release in the next few weeks and a new exchange listing. KCS will win because it is one of the few exchanges still accepting new traders, AND they give 90% of the trade commission back to KCS holders and as referrals. This type of referral and KCS dividend is unheard of in exchange marketplaces. DBC is downright amazing, combining AI and the blockchain. The moonshots have all increased, yes, but a moon is not a 70% increase. HOLD. Tomorrow we will most likely not have another moonshot. Even though the market is significantly undervalued right now. I’ve provided 3 moonshot coins at depressed prices, HST (#1), EVX (#2), and PURA (#3), which should be plenty for you to allocate your funds around. This drop in alt coin price is something all of you should be taking advantage of. Look what happened 5 days after the last huge BTC price correction, the total crypto market cap set a new ATH. Guess what is about to happen in a week? A new ATH! If I were moonshot shopping today (which I am, thank you ETH price), I would allocate 50% to HST, 30% to EVX and 25% to PURA (I’m just seeing if you can count that adds up to 105% ;), 20% to PURA). Now that most people’s favorite section is finished let’s discuss ICOs! Crypterium and Covesting met their hard caps :/ but the good news is most of you were involved in these ICOs. When an ICO meets its hard cap it is clear there was significant interest and a greater likelihood of mooning immediately after exchange listing. Both the two I am now presenting I expect to reach hard caps in the coming weeks. ICO 1: KYC Legal: KYC Legal (please use the referral as I make no $ spending countless hours researching these ICOs and coins ) referral: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 The first I am presenting is a new favorite of mine because of the all so dreaded KYC form. Know Your Customer. If you’ve completed an ICO recently you know the form I’m talking about. The form they give you at the end, after you’ve sent your .5eth but before they will release their tokens. Basically stating you understand this market is unregulated, etc. Well a blockchain token has in essence solved this problem. I HATE KYC forms and if the KYC system was set up in a way in which you wouldn’t have to fill out that form repeatedly for every ICO it would be more convenient for all investors and ICO companies. KYC Legal intends to do just that. According to the founder DR, “This is a simple and quick way to complete client identification procedures, which can then be used to verify the client’s identity during various financial operations (so-called KYC (“know your customer”) requirements that financial institutions and companies working with the money of private individuals use to identify and verify counter parties before starting a financial transaction). This niche is completely untapped and I HATE KYC forms enough to think this is a brilliant idea. They are calling it a “Universal alternative to Personal IDs,” on the block chain. Brilliant concept and there are 2 days left to receive the 38% discount from the final price. A 38% gain prior to token sale completion is significant, imagine what will happen when the hard cap is reached and it hits the first exchange. KYC Legal: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 ICO 2: HOQU Referral: https://www.hoqu.io/?ref_id=7e8ace30413be0fe224fa60d3e57868f According to HOQU directly, “HOQU is a decentralized affiliate platform combining the performance-marketing model with blockchain technology. The aim of the project is to create a decentralized ecosystem, which will be used to build CPA services, ranging from affiliate programs to affiliate networks and related products. HOQU integrates advertisers, networks and affiliates into a single platform, significantly reducing the financial costs for all market participants.” Currently we have decentralized markets for advertisers, networks, and affiliates, HOQU intends to combine all 3 into one platform on the blockchain. This satisfies the need to fulfill a niche market. Not to mention their team is exceptionally active posting on twitter and doing shows across the U.S., currently at a crypto convention in Las Vegas. This is an active team (not a scam hiding in Eastern Europe or Asia) with a niche implementable platform. I see this being a true moon candidate following listing on an exchange! Please use my referral, thank you: https://www.hoqu.io/?ref_id=7e8ace30413be0fe224fa60d3e57868f All below information has been updated on Wednesday at 10am EST. This will help individuals follow what information has been repeated/edited. January Buy and Holds Stated Above: ICX, STRAT and NEO A few other winners for the short term (not my top 3 but ones I am holding) TRX (BUY) TRX has been a target of FUD attacks for almost a week slashing the price by almost 50%. Many coins prior to huge pumps are FUD attacked. With a game coming out this month and a huge drop in the alt market I expect TRX to come storming back. They’ve monetized gaming and it’s level of success will be felt within the next few weeks. I do not know if you played Cryptokitties but it crashed the Ether network. TRX is a much faster and less expensive network to process information on. I expect the game this month to be the second that monetizes gaming through cryptocurrency leading to TRX’s short term success. I’d expect another 100-300% returns leading up to the release of a game on their TRX platform. TNB (BUY) Although the price has increased almost daily there is good reason for it! TNB has a BETA version of the Android and IOS wallet being released this month. This is one of the few coins that didn’t take a beating yesterday. Being able to take your funds with you is exceptionally important. Having a good looking interface is equally important. TNB looks to accomplish both tasks this month. It is also one of the cheapest coins on Binance, a plus for those looking for cheap coin acquisitions! I like TNB as a cheap Binance coin with truly significant potential. (This paragraph remains unchanged) My 3 favorite short term plays based on conferences for the next 2 weeks are: WAVES, ARK, and SONM. These 3 are all at events in the next 2 weeks of January (Waves and ARK are at a conference in Miami I will be attending!). The cost of attendance to these conferences start at $1,000 (I will need tips to cover costs !). However, they provide exposure to the top individuals and founders of coins with billions of dollars in market cap. In comparison to other coins speaking at the largest January events WAVES, ARK, and SONM’s price has not appreciated this week in correlation to the others. They are also the smallest market cap coins presenting at these huge conferences. This provides an opportunity to purchase WAVES, ARK, and SONM at an undervalued price. As their conferences in mid-January approach I expect their price to trend north rapidly, peaking on the day of, or day after the conference. These should be focal points if you shy away from moonshots (which you shouldn’t!). XEM(BUY), They had their pop 2 days ago and has since decreased with the rest of the market!! Each coin has a specific reason for their being undervalued. Catapult, which is version 2.0 of NEM is to be released very soon. 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. POWR(BUY), Is one of the few coins supported by an actual government (Hi Aussies!) A county that struggles with power grid failure could succeed in implementing the first cryptocurrency related directly to trading power and electricity on the blockchain. I expect a strong future from POWR. Expect to see significant returns in the next 72hrs while the alt markets come back with force. ADX (BUY), has had an impressive run but taken a recent dip. It remains a favorite of mine for multiple reasons. One of my favorite parts about ADX is 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. ADX wins because NEO wins, Asian markets enjoy trading even more than the U.S. currently. This trend should continue as ADX continues its trend north. Their next partnership or announcement will lead to the next big pop in price, but as far as a coin goes, this is a safe option with stable returns that has a functioning and profitable platform. ARDR(BUY) Honestly, Bittrex is beginning to frustrate me (as I’m sure you too!). I haven’t received my IGNIS and ARDR has been unable to be sold, bought, or transferred in weeks. I recommend moving $ to KuCoin and enjoying these insane %s. However, currently like many of you I have a large holding in ARDR which I still believe strongly in but would like the opportunity to sell if I choose! Their platform successfully launched Jan 1st. 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. I believe ARDR and its new network will experience positive publicity and a successful launch of IGNIS. I would continue to buy and hold as the ARDR network gets rolling. Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 4 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? ETH: Address: 0xdef6b4415635d15b0dc50e7039ef73c33e622f22 LTC Address: LiTtwXUMCMmch5oKUXfrXMqXWnG6jLg3qD BTC Address: 1LFLx3cXD1xiqCrupZJKf8p6pR23JRZWtP DASH Address: Xi9637XDyW2Q6wtRyGLsNXbJHj4UZ2M3kN (cheapest way to send!) KCS Address: 0x56d0a5b42a8313c36d8fe7a37ee3ccade7e4e6e1 XMR Deposit Address:44tLjmXrQNrWJ5NBsEj2R77ZBEgDa3fEe9GLpSf2FRmhexPvfYDUAB7EXX1Hdb3aMQ9FLqdJ56yaAhiXoRsceGJCRS3Jxkn XMR Deposit ID: b72e438346259f2828feaec4b04f0a95034b6364853f6f33d2370f57a37a1753
A cryptocurrency (or crypto currency) is a digital asset
Main article:Blockchain The validity of each cryptocurrency's coins is provided by a blockchain. A blockchain is a continuously growing list of records), called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. Blockchains solve the double-spendingproblem without the need of a trusted authority or central server), assuming no 51% attack (that has worked against several cryptocurrencies).
Cryptocurrencies use various timestamping schemes to "prove" the validity of transactions added to the blockchain ledger without the need for a trusted third party. The first timestamping scheme invented was the proof-of-work scheme. The most widely used proof-of-work schemes are based on SHA-256 and scrypt. Some other hashing algorithms that are used for proof-of-work include CryptoNight, Blake), SHA-3, and X11#X11). The proof-of-stake is a method of securing a cryptocurrency network and achieving distributed consensus through requesting users to show ownership of a certain amount of currency. It is different from proof-of-work systems that run difficult hashing algorithms to validate electronic transactions. The scheme is largely dependent on the coin, and there's currently no standard form of it. Some cryptocurrencies use a combined proof-of-work/proof-of-stake scheme.
📷Hashcoin mine In cryptocurrency networks, mining is a validation of transactions. For this effort, successful miners obtain new cryptocurrency as a reward. The reward decreases transaction fees by creating a complementary incentive to contribute to the processing power of the network. The rate of generating hashes, which validate any transaction, has been increased by the use of specialized machines such as FPGAs and ASICs running complex hashing algorithms like SHA-256 and Scrypt. This arms race for cheaper-yet-efficient machines has been on since the day the first cryptocurrency, bitcoin, was introduced in 2009. With more people venturing into the world of virtual currency, generating hashes for this validation has become far more complex over the years, with miners having to invest large sums of money on employing multiple high performance ASICs. Thus the value of the currency obtained for finding a hash often does not justify the amount of money spent on setting up the machines, the cooling facilities to overcome the enormous amount of heat they produce, and the electricity required to run them. Some miners pool resources, sharing their processing power over a network to split the reward equally, according to the amount of work they contributed to the probability of finding a block). A "share" is awarded to members of the mining pool who present a valid partial proof-of-work. As of February 2018, the Chinese Government halted trading of virtual currency, banned initial coin offerings and shut down mining. Some Chinese miners have since relocated to Canada. One company is operating data centers for mining operations at Canadian oil and gas field sites, due to low gas prices. In June 2018, Hydro Quebec proposed to the provincial government to allocate 500 MW to crypto companies for mining. According to a February 2018 report from Fortune, Iceland has become a haven for cryptocurrency miners in part because of its cheap electricity. Prices are contained because nearly all of the country's energy comes from renewable sources, prompting more mining companies to consider opening operations in Iceland. In March 2018, a town in Upstate New York put an 18-month moratorium on all cryptocurrency mining in an effort to preserve natural resources and the "character and direction" of the city.
GPU price rise
An increase in cryptocurrency mining increased the demand of graphics cards (GPU) in 2017. Popular favorites of cryptocurrency miners such as Nvidia's GTX 1060 and GTX 1070 graphics cards, as well as AMD's RX 570 and RX 580 GPUs, doubled or tripled in price – or were out of stock. A GTX 1070 Ti which was released at a price of $450 sold for as much as $1100. Another popular card GTX 1060's 6 GB model was released at an MSRP of $250, sold for almost $500. RX 570 and RX 580 cards from AMD were out of stock for almost a year. Miners regularly buy up the entire stock of new GPU's as soon as they are available. Nvidia has asked retailers to do what they can when it comes to selling GPUs to gamers instead of miners. "Gamers come first for Nvidia," said Boris Böhles, PR manager for Nvidia in the German region.
📷An example paper printable bitcoin wallet consisting of one bitcoin address for receiving and the corresponding private key for spendingMain article:Cryptocurrency wallet A cryptocurrency wallet stores the public and private "keys" or "addresses" which can be used to receive or spend the cryptocurrency. With the private key, it is possible to write in the public ledger, effectively spending the associated cryptocurrency. With the public key, it is possible for others to send currency to the wallet.
Bitcoin is pseudonymous rather than anonymous in that the cryptocurrency within a wallet is not tied to people, but rather to one or more specific keys (or "addresses"). Thereby, bitcoin owners are not identifiable, but all transactions are publicly available in the blockchain. Still, cryptocurrency exchanges are often required by law to collect the personal information of their users. Additions such as Zerocoin, Zerocash and CryptoNote have been suggested, which would allow for additional anonymity and fungibility.
This behavior is problematic because it invalidates one of the problems Bitcoin solves in normal conditions—double-spending—where a user attempts to spend the same Bitcoin multiple times. Ramifications of an Attack. Once an attacker has assembled sufficient hashing power, Nakamoto describes two options: Double-Spending: The risk that a digital currency can be spent twice. Double-spending is a problem unique to digital currencies because digital information can be reproduced relatively easily Malicious cryptocurrency miners took control of Bitcoin Gold's blockchain recently to double-spend $72,000 worth of BTG.The Next Web reports: Bad actors assumed a majority of the network's processing power (hash rate) to re-organize the blockchain twice between Thursday and Friday last week: the first netted attackers 1,900 BTG ($19,000), and the second roughly 5,267 BTG ($53,000). Ethereum Classic is currently trying - unsuccessfully - to defend against an attack. Various sites claim a 51 percent attack, though denied by development Bitcoin Gold (BTG), a minor hard fork of the Bitcoin protocol, has been subject to a 51% attack with $72,000 stolen so far. 51% attacks are possible when attackers manage to seize control of the
Bitcoin Shadow attack can result in chain reorg which could lead to double spending. Get blockchain certified: https://academy.ivanontech.com join 20,000 students. Bitcoin has a golden rule which ... The ability to double spend Bitcoin is made possible by the anti-feature replace-by-fee. ... Bitcoin 51% Attack - Clearly Explained - Duration: 5:39. Nugget's News 7,251 views. What is double-spending? Can someone duplicate my Bitcoins? Watch this video for more information and visit https://coiner.co.za/ ... Do you REALLY understand Bitcoin 51% Attack? Programmer ... You will see if and how you can lose access to purchased bitcoins or other digital assets. We talk about the 51% attack and the problem of double spending, about sim swaps, scams, knowledge and ... Do you REALLY understand Bitcoin 51% Attack? Programmer explains. - Duration: 11:28. Ivan on Tech 80,336 views. 11:28. ... What is Double Spending - Duration: 2:20.