Pro 31

Bakkt Raises $182.5M From Microsoft And Other Big-Name Investors

Bakkt on Monday announced the completion of its first funding round, to the tune of $182.5 million. The platform which aims to offer the first-ever Bitcoin-settled futures contracts in the coming year says it is going ahead with its plans irrespective of the current market conditions.


$182.5 Million in Funding From High Profile Investors

In a Medium post published on Monday (Dec. 31, 2018) by the Bakkt CEO, Kelly Loeffler, the company announced that it had successfully carried out its first funding round. According to the announcement, 12 investors participated in the capital raising exercise.

The CEO notes the investors including some big names, namely:

The partners and investors in the first round include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures.

Bakkt Moving Ahead Despite Bear Market

For Loeffler, the status quo remains unchanged despite the prolonged bear market that characterized the cryptocurrency space in 2018. The company intends to continue its drive for proper onboarding of clients, as well as, collaborating with relevant business partners.

New York Stock Exchange Owner to Launch Bitcoin Data Service

Reinstating Bakkt’s commitment and resolve to the process, Loeffler, said:

We have worked to build new markets and products many times before. Those of us building Bakkt have earned our stripes by helping advance markets in once-nascent asset classes, from energy to credit derivatives and, now, bitcoin. The path to developing new markets is rarely linear: progress tends to modulate between innovation, dismissal, reinvention, and, finally, acceptance.

According to Loeffler, focusing on the BTC price 00 action is a distraction from the groundbreaking developments happening with Bitcoin as a whole. The Bakkt CEO also noted that paradigm-shifting technological breakthroughs have a long incubation time and price isn’t always the best metric for gauging growth.

Notably, 2018 was the most active year for crypto in its brief ten-year history. This was evidenced by rising investment in distributed ledger technology and digital assets, as well as by blockchain network metrics such as daily bitcoin transaction value and active addresses. Yet, these milestones tend to be overshadowed by the more narrow focus on bitcoin’s price…

Bakkt Postponed From January to ‘Early 2019’

Bakkt and the Commodity Futures Trading Commission (CFTC) continue to work out modalities for the launch of the BTC-settled futures contracts. However, the current government shutdown in the United States looks like it has pushed back the January 2019 launch to “early 2019.”

The official statement published on December 31, reads:

Following consultation with the Commodity Futures Trading Commission, ICE Futures U.S., Inc. expects to provide an updated launch timeline in early 2019, for the trading, clearing and warehousing of the Bakkt Bitcoin (USD) Daily Futures Contract. The launch had previously been set for January 24, 2019, but will be amended pursuant to the CFTC’s process and timeline.

While awaiting CFTC approval, the platform says it will continue to onboard customers while firming up its institutional-grade infrastructure.

Do you think the signs are good for Bakkt following this successful fundraising round? Please share your thoughts with us in the comments below.


Image courtesy of Twitter (@Bakkt), Shutterstock

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Pro 29

Use Bitcoin! Customers Condemn PayPal After It ‘Bans’ The Hacker News

Cybersecurity news resource The Hacker News (THN) has become the latest PayPal user to have its accounts frozen without warning, the company has claimed.


‘At Least One Valid Reason’

In a series of tweets December 28, officials reported that funds from “all” its corporate accounts with the money transmitter were no longer accessible.  

“(PayPal) has permanently banned all of our accounts without mentioning any reason and hold wallet funds wrongly for 180 days. Upon asking, (PayPal Support) also refused to share any details,” they wrote.

Describing the situation as “frustrating,” THN also accused PayPal of failing to provide “at least one valid reason” for its actions.

PayPal has often instigated funds blocking against corporate clients, including those involved in the cryptocurrency industry, without explanation.

As Bitcoinist has reported, such blocks are part of the service’s terms of use, which include the caveat that users can be frozen out of their accounts without the company being required to explain why.

Bitcoin Doesn’t Care

Almost immediately after THN made the news public, Twitter commentators pointed it in the direction of Bitcoin as an alternative.

The event comes amid a progressively changing mood to centralized payment providers among tech circles.

The same day, TIME Magazine had published a pro-Bitcoin article focusing on its use as a circumventive method, specifically highlighting PayPal’s Venmo as an example of middlemen who “can potentially censor, surveil, and profit” from customers.

The backlash has extended beyond PayPal in recent months. In August and on several occasions since, crowdfunding platform Patreon blocked high-profile users and gave dubious reasons for doing so.

Open source alternatives have also targeted centralization within cryptocurrency, such as BTCPay rapidly taking custom away from industry names such as BitPay and Coinbase, which have both faced controversies of their own.

At press time, no further information had come from PayPal over the THN stunt.

What do you think about PayPal allegedly blocking The Hacker News? Let us know in the comments below!


Images courtesy of shutterstock

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Pro 24

Bitmain Fires Entire Bitcoin Cash Development Team: Report

Things appear to be far from well with Bitcoin Mining firm Bitmain as several reports indicate another round of employee layoffs at the firm. This news follows reports that the company’s IPO is also dead in the water after rumors of Q3 losses running into over $700 million.


Bitmain on Firing Spree

According to Blockstream CSO, Samson Mow, there are rumors swirling that the mining giant laid off its entire Copernicus team. Mow cited posts from Chinese LinkedIn published by company employees. The Copernicus team was responsible for developing the Bitcoin Cash GO client for Bitmain.

In another report, other messages indicate a far more extensive labor cutback, which could target up to half of Bitmain’s entire workforce. Earlier in the month, Bitcoinist reported that the company closed down its research division in Israel. More than 20 employees lost their jobs after the move.

BCH Blues

Bitmain bet on Bitcoin Cash 00, a move that now appears to have backfired leading to severe losses for the company. Rumors of massive Q3 2018 losses are also casting huge doubts over the company financials and will likely stonewall its IPO plans.

The second half of 2018 has turned out to be a challenging one for the company. From the massive fall in BCH prices to the Bitcoin Cash hash wars, Bitmain’s bitcoin mining industry monopoly could be in jeopardy.

Recently, US IT firm UnitedCorp sued Bitmain along with Kraken, Bitcoin.com, and Roger Ver for allegedly manipulating the BCH network.

Tis the Season of Layoffs

Bitmain is only the latest in a series of mass layoffs in the cryptocurrency and blockchain technology industry. Earlier this month, Consensys fired 100 of its employees (about 10 percent of its entire staff strength) as Ethereum price 00 plummeted from an all-time high of $1,400 in January to as low as $83 in early December. Reports even indicate that the company isn’t through with its downsizing.

Others like Steemit and Ethereum mobile dApp maker Status have also significantly reduced their workforce in the past months. For many of these startups, the reason for their downsizing is directly tied to the dramatic fall in cryptocurrency prices with many experiencing drop of over 90 percent.

Oddly enough, despite the increasing layoffs, the latest figures show that talent is still very much in demand in the space. A recent Glassdoor survey found that job openings in the cryptocurrency industry are at an 18-month high.

What do you think the situation at Bitmain reveals about the state of similar companies in the cryptocurrency scene at the moment? Please share your thoughts with us in the comments below.


Image courtesy of Twitter (@DoveyWan and @Excellion), Shutterstock

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Pro 21

Bakkt Bitcoin-Settled Futures Set To Be Approved in Early 2019

Bakkt, a platform for the first-ever Bitcoin-settled futures contract, is expected to be approved by the United States Commodity Futures Trading Commission (CFTC), according to the Wall Street Journal.


CFTC Approval Imminent

According to the Wall Street Journal, Bakkt will soon receive a regulatory green light from the CFTC for its Bitcoin futures contract. The WSJ notes:

The first futures contract that will pay out in cryptocurrency rather than cash is expected to soon get regulatory approval.

Bakkt, owned by Intercontinental Exchange Inc., will be the first to offer a BTC-settled futures product.

The Chairman Of The CFTC Might Just Have Brought The Bitcoin Crash To An End

Both Bakkt and the CFTC have been working together to iron out crucial issues relating to the futures contract. CFTC is also reportedly examining Bakkt’s business plan to determine whether they comply with its regulations.

Another major point of concern has to do with cybersecurity infrastructure. Cryptocurrencies are a target of hackers and other cybercriminals. The CFTC is looking at Bakkt’s security framework and the modalities in place to recover from a possible cyberattack.

Previously, Bakkt had to postpone the launch of BTC futures contracts to 2019 to give more room for proper customer onboarding and warehousing for the product.

In a press released issued by ICE back in November, the company announced that Bakkt would begin trading BTC futures on January 24, 2019. According to available reports, the CFTC will likely vote on the matter in early 2019.

Focus on Price Discovery

For Bakkt, the mechanism of price discovery is a critical issue given that its contract will be BTC-settled and not cash-settled like the ones offered by the CME and the CBOE.

Back in 2017, the appeal of the futures contract provided by the latter two gave traders the ability to place leveraged bets on BTC price 00 movement without having to buy the cryptocurrency itself.

However, the dynamics of price discovery could improve with Bakkt contracts being settled in actual bitcoin to gauge real demand as opposed to placing USD cash bets on BTC price movement. In August 2018, Bakkt CEO, Kelly Loeffler, said:

A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset.

Apart from Bakkt, Nasdaq has also confirmed that it wants to launch its Bitcoin futures product in 2019 and possibly other altcoins like Ethereum thereafter.

Will Bakkt Bitcoin futures get approved and make Bitcoin price discovery more accurate? Share your thoughts below!


Image courtesy of Twitter (@Bakkt), Shutterstock

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Pro 14

To The Moon! Bitcoin Space Travel Gets Closer As Virgin Galactic Takes Flight

Billionaire Richard Branson appeared to cry tears of joy when his ‘Bitcoin-friendly’ Virgin Galactic reached the edge of space for the first time December 13.


World Sees First Commercial Space Flight

Branson, who revealed himself as a Bitcoin believer and investor in 2013, watched as SpaceShipTwo, the latest vehicle from the Virgin Galactic and The Spaceship Company, broke free of Earth to mark a “momentous achievement” for crewed space travel.

“SpaceShipTwo is now the first crewed vehicle built for commercial service to reach space. (With due credit of course to the amazing SpaceShipOne prototype for paving the way),” he wrote in a dedicated blog post.

Virgin Galactic aims to make both space tourism and long-distance point-to-point travel using rocket power a viable commercial enterprise.

In 2013, Branson announced the project would accept Bitcoin for flights, calling the cryptocurrency a “brilliantly conceived idea.”

“Sometime in the future, innovative payment models such as… Bitcoin will become serious challengers to traditional banks, which will spur more competition and give customers even more options,” he forecast at the time.

Galactic is a company looking into the future, so is Bitcoin. So it makes sense we would offer Bitcoin as a way to pay for your journey to space.

Bitcoin To The Moon

Like the Bitcoin ecosystem, the project has had its ups and downs. In 2014, a crash during the fourth test flight of SpaceShipTwo resulted in the death of its copilot, while its pilot sustained serious injuries.

In the intervening years, Blockchain technology has meanwhile become the focus of a more general push to advance space exploration.

As Bitcoinist reported, NASA is among the entities looking to enhance their operations using both Blockchain and artificial intelligence (AI), specifically within the field of communications.

Blockstream satellite

Bitcoin transactions can also be broadcasted via satellite. Four have been launched by Blockstream to date, covering a large part of the earth to protect against network interruptions and providing anyone in the world with the opportunity to use Bitcoin.

Virgin Galactic, meanwhile, will now continue to conduct tests on SpaceShipTwo with aim of creating longer fights and “creating thousands of private astronauts.”

What do you think about Virgin Galactic? Let us know in the comments below!


Images courtesy of Shutterstock

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Pro 04

Binance to Launch Binancechain For ‘Millions of Coins,’ CEO Confirms

The world’s largest cryptocurrency exchange by means of traded volumes will be launching its own public blockchain in “a couple of months or so,” according to its CEO, Changpeng Zhao. 


‘There Will be Millions of Coins and Thousands of Blockchains’

Speaking at the stage of Forbes Asia Forum: Decrypting Blockchain, the CEO of the Binance Changpeng Zhao (CZ) revealed that the company’s public blockchain dubbed Binance Chain will be released very soon – within the next “couple of months or so.”

Covering CZ’s talk at the event was Forbes’ staff reporter, Michael del Castillo, who quoted the CEO saying:

We are launching Binancechain very soon, in a couple of months or so, and you will be able to issue tokens on that… I think there will be millions of coins and thousands of blockchains.

Naturally, CZ’s words immediately provoked a wave of users questioning the need of so many cryptocurrencies and blockchains. It’s will also be interesting to see how Binance will handle and vet the “millions of coins” given CZ’s previous statements. In August, Zhao stated:

We don’t list shitcoins even if they pay 400 or 4,000 BTC. [Ethereum, NEO, Ripple, EOS, Monero and Litecoin and more] listed with no fee. Question is not ‘how much does Binance charge to list?’ but ‘is my coin good enough?’ It’s not the fee, it’s your project! Focus on your own project!

Binance Tatoo Shows ‘Commitment’

CZ also refused to provide any predictions on the price of Bitcoin 00 under the pretense that his words will be taken as manipulation. He said:

I try not to predict the future bitcoin price because anything I say will be seen as manipulation. So I lost that part of free speech.

Meanwhile, Zhao revealed getting a tattoo of the Binance logo on his forearm as a sign of absolute commitment.

In a Medium post explaining the idea behind the logo and CZ’s decision to get the tattoo, he also shared his thoughts on listing coins on Binance and how founders’ dedication is one of the things they are looking for in order to have a coin listed.

Apparently, permanently marking one’s body and infusing it with ink with the Binance logo should inspire confidence that the CEO is committed and in it for the long haul.

What do you think of Binance chain? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock, Medium.com

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Pro 03

Bitcoin, Blockchain Jobs Openings Are Booming Hitting 18-Month High

The Bitcoin and Blockchain jobs industry is booming despite price deflation, a new survey from Glassdoor has revealed.


1775 Bitcoin, Blockchain Jobs In August

The findings, which originally appeared in mid-October, covered an 18-month period from April 2017 through August 2018.

In that time, the number of job openings “related” to both Bitcoin and Blockchain grew almost every month – even as the Bitcoin price began to fall after December last year.

Most came from cryptocurrency names, with Ethereum cofounder Joseph Lubin’s ConsenSys and exchange Coinbase among the top players.

Contrary to expectations, as of August 2018, there were more vacancies in the two sectors than ever before, even as BTC/USD 00 fell lower and lower.

“As more employers become interested and invest in the technology, the professionalization of the space has accelerated as well,” Glassdoor researchers wrote expounding the data.

Cryptocurrency prices began rising across the board around May 2017. In that month, just 234 jobs were on offer in the US.

Fast forward a year and a half and the Bitcoin price was circling $6500 – around three times higher – yet the number of jobs had multiplied well beyond that figure, reaching 1775 this August.

Glassdoor also lists the top markets for the job openings with New York City and Silicon Valley (unsurprisingly) in the top three.

Rapid Growth ‘Set To Continue’

“The surge in open jobs has well outpaced the 200 percent increase in value that cryptocurrencies have undergone since August 2017,” Glassdoor noted.

Despite the price volatility over the last year, continued growth in job openings suggests that blockchain employers remain confident in the market opportunity and continue to make long-term investments in their teams.

The survey was not the only one to identify the increasing trend. In September, analysts found the number of Asian opportunities had increased 50 percent since 2017.

Going forward, despite the blockchain industry, in particular, attracting mixed publicity recently, its longer-term growth seems somewhat more assured, says Glassdoor, adding:

While the ultimate staying power of cryptocurrencies and blockchain technologies remains to be seen, the blockchain job market seems primed to continue its rapid growth into the near future.

What do you think about the rise in Bitcoin and Blockchain jobs? Let us know in the comments below!


Images courtesy of Shutterstock, Glassdoor

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Pro 01

WePower (WPR) – Why It’s Poised to Outmuscle Bitcoin in December

WePower (WPR) is in the spotlight this week for bridging green energy and blockchain technology. WPR looks like a solid contender to outperform Bitcoin returns in December.


Niche Cryptocurrencies

Every week provides new opportunities to find undervalued cryptocurrencies. These cryptocurrencies can produce returns far in excess of BTC. As BTC looks to recover from recent slumps many altcoins should trend with it. This week is no different as WePower (WPR) stands out for numerous reasons.

Cryptocurrencies that solve an issue plaguing society by integrating the blockchain are the most successful. BTC 00 has been the dominant digital currency but many others have emerged that do specific things. These ‘niche’ cryptocurrencies have a tendency to provide the highest returns.

Here’s a look at what is expected of the top three digital currencies for the remainder of 2018, to help you make an informed trading decision.

Think Ethereum (ETH) going back a few years. ETH 00 was one of the original ICO platforms, which filled the niche of launching blockchain cryptocurrencies and projects. The presale ICO price was $0.30. That means every $30 ETH goes up from $0.30, the presale purchasers make 100x. At a price of $300, the ICO purchasers made 1000x. For every dollar invested they made $1000. Returns like this should not be anticipated. However, returns far in excess of BTC’s are more simple to attain if focusing on niche markets.

Previously cryptocurrencies like GoChain were highlighted and subsequently returned in excess of 200%. Many other niche cryptocurrencies were highlighted in the weeks prior and will be analyzed in weeks to come.

One thing became increasingly clear, niche cryptocurrencies, on large exchanges, with depressed market caps have a tendency to pump strongly against BTC.

This points to one specific cryptocurrency this week: WePower (WPR).

What is WePower?

 What is WePower? WePower (WPR) 00 is a blockchain based green energy trading platform. WPR fuels renewable energy production by enabling developers to raise capital by selling their production up front in the form of tradeable Smart Energy Contracts.

WPR is one of the few cryptocurrencies that enables corporate energy buyers to contract energy directly from green energy producers at below-market rates. What is most impressive is their next generation trading platform. Eventually, this platform will allow P2P (person to person) instead of just B2B (business to business) transactions.

To access the WePower platform, the native token WPR must be used. WePower created a niche market for the transmission of green energy and to interact with the platform the WPR token must be used. This creates actual utility for the WPR token. WePower has the platform, the utility, the niche, a market, and the necessity the world faces to counteract raising global temperatures.

Many complain that blockchain technologies are destroying our environment. Recent estimates predict more than 1% of global electricity is going toward ‘mining’ digital currencies. However, WPR is the blockchain niche that is different. They are facilitating the trading of green energy in a transparent manner.

Quarter 3 & Quarter 4

Quarter three saw WPR conduct a countrywide energy tokenization test across Estonia, successfully. The WePower platform also underwent significant testing in July and can now be interacted with online.

Quarter four is more exciting with WePower becoming operational in Spain, Estonia and Australia resulting in WPR soaring to above 700 Satoshis. BTC almost immediately fell and WPR corrected with it. The most important quarter four event and news is yet to come, which is specifically why WPR is in the spotlight this week.

WPR plans to distribute donated green energy amongst their token holders in December. For those interested in WPR the timing to accumulate would be prior to this event as it comes with ‘free’ green energy. WePower wants to demonstrate their platforms functionality and utility.

What better way is there than donating energy to token holders to demonstrate the actual utility of the WPR?

WePower’s team is composed of over 60 individuals and they are currently concentrating their business in Australia. Even as this bear market has stifled progress in the space, making financing increasingly difficult to come by, WPR has been hiring and building. Out of thousands of cryptocurrencies that let their projects become obsolete in prior months, WPR has done the opposite.

In the last two months, WPR has added a Chief Information Security Officer, Michael John, the former Director of Operations at the European Network for Cyber Security. The engineering team in Tallinn added Head of Products along with engineers from the top energy projects in Europe. Beyond engineers and security officers, WPR also added data scientists and advisors to guarantee they are prepared with their platform.

While most projects have remained stagnant through this bear market WPR has positioned themselves for success in December and quarter one of 2019. With WPR peaking above 700 Satoshis following operations beginning in Spain, Estonia and Australia this number should be well within reach as the date of energy distribution approaches.

WPR is one of the niche cryptocurrencies that if they can continue to meet their roadmap deadlines should see their minuscule market cap trend upward. With a target of 700 Satoshis by the end of December WPR could be in line for over a 50% climb in the short term.

Conclusion – WePower the Future 

When all the attention is focused on one aspect of cryptocurrency, divert yours to another. This week Floyd Mayweather and DJ Khaled made headlines for their promotion of ICOs. Individuals fascinated with cryptocurrencies have been puzzled with BTC’s retraction to under $4,000. This is the ‘news’ that is meant to distract.

The next few months have major events including almost every major U.S. exchange getting involved in the trading of Bitcoin and cryptocurrencies. Now is the time to DYOR (do your own research) and find the needle in a haystack cryptocurrency.

The needle in a haystack found this week was WPR. One of the few cryptocurrencies poised for success with a functioning platform, impressive team, continuous expansion, and an actual niche market.

There are plenty of sh*tcoins and scams in crypto. Instead of spreading animosity in the space it is better to focus on strong products with teams that represent leadership in the blockchain industry.

WPR demonstrates leadership in both blockchain and green energy.

To read the Crypto King’s prior articles or to get in contact directly with him, you can on Twitter (@JbtheCryptoKing) or Reddit. The King is the founder of ANON and actively trades cryptocurrencies.

[Disclaimer: This views expressed in this article do not reflect the views of Bitcoinist and should not be taken as financial advice.]


Images courtesy of Shutterstock, Bitcoinist archives

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Lis 25

Bitcoin Pioneer Files For Bankruptcy

Washington State bitcoin mining pioneer GigaWatt filed for bankruptcy this week in a suspected bid to sell the company. The move follows the departure, in August, of the company’s co-founder, David Carlson.


From Bedroom to World’s Biggest Bitcoin Mine

Carlson started mining bitcoin as a hobby back in 2012 and saw the potential of cheap hydro-electric power in the state. A former Microsoft engineer, Carlson built the world’s largest bitcoin mine in an old furniture store in Wenatchee in 2013.

The benefit of the reduced energy costs quickly became felt and the company expanded to offer hosting services to other miners. In central Washington, electricity sells for less than a quarter of the national average.

Bitcoin Boomtown

In 2017, as the bitcoin price exploded, GigaWatt planned a multi-million dollar expansion on a nine-acre plot in Douglas County. Local authorities supported the scheme to create 24 prefabricated ‘pods’ where miners could set up their operations.

The company raised $22.6 million dollars in an ICO, issuing tokens redeemable for discount hosting services. Carlson and the other three owners also invested $25 million to back the project. Everything was looking rosy for GigaWatt and Wenatchee.

bitcoin mining

Small-town Slowdown

If falling bitcoin prices made it hard to attract investors and clients, construction delays and budget overruns threw a real spanner in the works. The hosting pods remain incomplete and GigaWatt has faced several lawsuits from investors.

According to the bankruptcy filing, GigaWatt holds less than $50,000 in assets and has creditor claims of $7 million. It faces eviction proceedings from the Port of Douglas County, although these are ‘on hold’ pending the latest filing.

Climate Change

The climate has somewhat changed for miners across Washington State recently. Towns are pushing back against the previously welcomed miners and Grant County has introduced higher energy tariffs for ‘evolving industries.’

Despite this, the Port Executive Director hopes that the project will still be completed, either by GigaWatt or another operator. She said:

The goal would be to have the project in some way shape or form completed so that it is a productive use for both the port district, in terms of lease revenue, but also providing jobs and economic growth for the community at large.

What do you think of GigaWatt filing for bankruptcy? Let us know in the comments below! 


Images courtesy of Shutterstock.

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Lis 24

Cryptocurrency Winter Special: Two to HODL and One to FODL

This week provides another opportunity for a cryptocurrency HODL vs. FODL analysis. With Black Friday having just passed this is the perfect opportunity to do some shopping.


Cryptocurrency Winter is Here

BTC 00 having fallen more than 30% in the prior week has brought many cryptocurrencies lower with it. However, with a lower BTC comes cheaper cryptocurrencies. This week two cryptocurrencies are highlighted as HODLs: DOCK and VET. With DOCK likely to have the most significant gains of those on this list in the short term. Unfortunately, Bitcoin Gold is highlighted as the FODL of the week.

As the cryptocurrency market progresses through 2018 it is important to distinguish which cryptocurrencies are HODLs (acquisition targets) vs FODLs (possible sells).

The prior months have seen niche market cryptocurrencies trading on major exchanges highlighted. This week 2 HODLS are highlighted: a small cap cryptocurrency and larger cap both in their own respective niche market.

DOCK is one of the smallest market cap cryptocurrencies on Binance providing platform users with ownership of their data. VET is a Top 20 Cryptocurrency by market cap, which specializes in supply chain management.

Both of these coins represent the HODLs of the week. DOCK with a market cap a fraction of VET is likely to post higher returns than VET. VET is the ‘safer’ play while DOCK is more ‘high risk, high reward.’

Bitcoin Gold represents the FODL of the week. BTG is a hardfork of Bitcoin, which allows GPU miners to ‘mine’ the BTG fork instead of the ASICs that are used to mine BTC. GPU mining capability is the predominant benefit of BTG, though that is not enough to keep it relevant in the crypto space.

When analyzing cryptocurrencies, it is important to determine if they are acquisition targets (HODL) or if they are relatively irrelevant in the space (FODL).

DOCK would be the cryptocurrency for those wanting a higher risk, very high reward potential coin. VET is a much lower risk given its substantial list of partnerships but is likely to return a lower percentage based on its market cap. BTG seems to be fading into irrelevancy as their sole purpose is GPU mining of a Bitcoin fork.

DOCK

DOCK 00 has landed on the HODL radar for a plethora of reasons. With a $5.5 million market cap, DOCK has one of the lowest market caps on Binance. DOCK was added to Binance at the end of July during the height of the bear market. It is almost as if the public did not even notice.

When DOCK was added to Binance the price shot up to over $0.07. With the price currently hovering around $0.01 that is an 86% correction since July 30, 2018. Having corrected such an astronomical amount in just the last two months DOCK seems to be poised for a breakout.

What makes DOCK qualify as a niche coin among many cryptocurrencies is what their platform stands for. DOCK gives individuals ownership of their data, specifically rewarding them in DOCK. This allows the user to connect multiple social media accounts through one portal while securely storing your personal data in the cloud. The information you wish to share from the cloud will be rewarded based on what it is.

Currently, we provide free internet data to many corporations by just browsing. Why not be paid for that same data?

The benefits of the DOCK platform are not just for the user. Yes, it is more simple to have all your social media accounts logged in via one platform. Yes, it saves time to be able to pick and choose which aspect of your data can be seen by the public wishing to pay for it. However, the benefits are far greater than one would imagine.

Advertisers can tailor adverts to their consumers without wasting money on uninterested demographics. Users will not be bombarded with adverts unrelated to their lives. Time and money are saved by all parties with platform users receiving the most benefits.

DOCK is an ERC-20 token that has found a way to pay users for the data they had previously shared anyways. It is essential to be able to protect your private information in the cloud, DOCK not only protects it, but it also allows you to profit from of it. If there was a high risk, high reward cryptocurrency to accumulate prior to the bull run, DOCK is one of the top contenders!

This week’s market correction has forced DOCK down another 30% positioning it perfectly for a rebound and this week’s top cryptocurrency.

VeChain (VET)

VeChain (VET) 00 is one of the larger cap cryptocurrencies that has solidified itself as a ‘niche’ specialist.

VET specializes in supply chain management and for the majority of 2018 had a market cap in excess of a billion. Unfortunately, VET has corrected with the rest of the cryptocurrency space and has fallen to the #20 spot on CMC with an impressive list of partnerships.

Partnerships and platforms result in long-term relevancy. VET has an impressive platform, and a more impressive list of partners: DNV (specializing in audits), PriceWaterhouseCoopers (Big 4 Accounting Firm), National Research Consulting (Fortune 1000 Company), Chinese Government (Gui’an New Economic Area), Republic of Cyprus, and BMW. VET has aligned with the largest manufacturers, governments, and companies to ensure the world can take advantage of blockchain supply management technology.

Even with a list of partners who dominate industry VET has continued to slide down the list of largest market cap cryptocurrencies. VET is #20 while BTG is #19. VET has a bigger community, better partnerships, and more niche platform than the majority of cryptocurrencies, especially in the Top 20. Of the cryptocurrencies that make up the Top 20, VET seems most poised for a break out when BTC price stabilizes.

A niche market, partnerships that would make Fortune 500 companies jealous, being on the cutting edge of technology, and a market that has just fallen 70+% all make VET a highly attractive cryptocurrency. Will the returns be as high as DOCK’s? It is unlikely. VET will likely remain a Top 20 Cryptocurrency for years to come while DOCK could fade into oblivion following a major bull run.

Bitcoin Gold (BTG)

It is never fun to discuss cryptocurrencies that one should FODL, but this week it is Bitcoin Gold (BTG).

BTG 00 exists because miners of the BTC network wanted to use GPUs instead of ASICs. BTC went through a hard fork (similar to what they experienced with Bitcoin Cash) resulting in BTG, allowing GPU mining.

However, the cryptocurrency space already has thousands of coins and the ability to mine a BTC knockoff using GPUs is not an important enough reason for BTG to exist.

Any person with GPU miners could mine the highest paying GPU coin, sell the underlying coin for BTC and voila! Problem solved.

The miner is, in essence, mining the real BTC by mining an altcoin and having the user sell it for BTC. There is no need to mine BTG directly instead of a higher paying altcoin and then selling the altcoin for actual BTC.

Recently people have been discussing how Bitcoin has no value because it is infinitely replicable. But this is not true.

Designer purses are also infinitely replicable but each purse that is not ‘genuine’ is fake, a replica, and their value is subsequently impacted. BTG is not BTC regardless of similarities. Mining BTG using GPUs provides the same benefit as mining any other cryptocurrency using GPUs. BTG has no real purpose and is another of BTC’s many unnecessary forks.

Twitter

With a market cap over $250 million, BTG makes up the #19 spot on CMC. This is surprising as it is one spot ahead of VET. BTG has no long-term viability and minimal partnerships when compared to VET.

Solutions exist to mine using GPUs and earn returns in BTC too. There is no reason BTG needs to be that ‘solution’ leading to a market cap larger than VET’s.

The Verdict

Cryptocurrencies that are focused on niche markets that need a blockchain solution are those that are most likely to survive. Those that have partnerships with thriving Fortune 500 companies are the blockchains of tomorrow. The smaller, lesser-known ones, are the cryptocurrencies that could pull off the next 20-100x.

DOCK is the cryptocurrency on this list that has true ‘moon’ potential. If DOCK’s market cap rivals VET’s that means HODLers of DOCK would enjoy a 50x (comparing market caps). Smaller market cap cryptocurrencies are the ones that have the ability to penetrate the Top 20 while having a huge rise in market cap.

Verdict: HODL

VET is perfect for those that enjoy lower-risk cryptocurrencies but want to remain well diversified in unique blockchain niches. Already having a market cap over $250 million VET has the potential to provide significant returns. As VET continues to partner with companies many are familiar with expecting the price to begin to appreciate with the turn of the market.

Verdict: HODL

BTG is a cryptocurrency maintaining a Top 20 spot among all cryptocurrencies when it is fairly irrelevant. The benefits BTG provides are minimal and those that wish to mine BTC using GPUs can mine a more profitable alternative, and sell it for BTC.

Verdict: FODL

[Disclaimer: This views expressed in this article do not reflect the views of Bitcoinist and should not be taken as financial advice.]

To read the Crypto King’s prior articles or to get in contact directly with him, you can on Twitter (@JbtheCryptoKing) or Reddit. The King is the founder of ANON and actively trades cryptocurrencies.


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