Dub 05

Why Bitcoin May Be The Greenest Technology Ever

The benefit for the planet may be incalculable by switching to a sound money like Bitcoin from inflationary ‘cheap’ money that incentivizes waste, incessant growth, and profligate consumption. 


New Technology Requires New Thinking

Today, most commentators attempt to define Bitcoin using analogies. They compare it to things they’re familiar with like stocks, commodities, or a payment service like PayPal. 

Just like the automobile was first described as a horseless carriage, Bitcoin today is presented largely as digital pseudo-money that’s not backed by any government.

Similarly, Bitcoin mining has been heavily criticized in the mainstream media. Headlines like Bitcoin uses more energy than *insert country* are not uncommon; and are regularly rehashed and republished.

Such findings, however, have been debunked time and time again. (Here’s a great article explaining Bitcoin’s energy use.) Meanwhile, similar concerns related to the banking system are deliberately ignored.

But Bitcoin is not like the inflationary fiat money that drives the global economy today. It possesses the properties of sound money. Unlike the dollar, it is deflationary, non double-spendable and un-counterfeitable. This makes it a completely different animal and requires some new thinking to understand its potential.

Inflation Incentivizes Profligate Consumption

Dollar hegemony, Keynesian thinking and inflation have now shaped economic policy for generations. Permanent Quantitative Easing (QE) and even negative interest rates are becoming the new normal. So it’s not surprising that something like Bitcoin is incomprehensible to most people today. 

Inflationary monetary policies force businesses into high time preference thinking. This means chasing quick quarterly profits, borrowing ‘cheap’ money, and doing whatever it takes to grow at all costs.

Today, most corporations hide behind a veneer of environmentalism to sell more products. Earth tone tote bags, less-plasticky plastic bottles, green logos, recycled materials etc. Anything to boost profit margins and ease over-consumption worries in the minds of the buyers. In result, if the product is ‘eco-friendly’ consumers feel less guilty about buying that new smartphone every year.

Cheap Money Doesn’t Care About the Future

The inflationary money phenomenon results in what is known as the Cantillon effect, where those closest to the money printers set the tone of economic activity.

Big businesses benefit, in particular, as they get special access to the central bank’s discount window. This ‘cheap money’ incentivizes borrowing and high time preference choices that tend to prioritize quantity over quality.

This also has a big impact on the time preferences of the population too. High inflation, or the reduction of purchasing power of money, means individuals will also have a high time preference.

This is especially evident in hyper-inflationary economies. People will rush to spend their money as soon possible knowing that it’ll be worthless the next day.

Starving Venezuelans Turn to Bitcoin Mining in Desperation

Bitcoin investor, Jimmy Song, explains the difference between a low time preference versus a high time preference individual. He says:

A low time preference person is willing to forego things now for something better later.

A bunch of high time preference people will not think very much about the future. Instead of saving for tomorrow, they’ll spend now, consume and not be very productive. They won’t be saving for tomorrow, starting businesses or building large scale projects as they all require a lot of planning.

Sound Money is Green Tech

So perhaps we should not be focusing on whether Bitcoin ‘wastes’ more or less electricity than today’s financial system. Instead, we should be asking whether sound money would change how we value our time, labor and our environment, particularly for future generations. 

“[Unrealized capital gains tax] and fiat money have a similar outcome. Distortion of time preference from investing in the future towards present consumption. Encouraging hedonistic activity and thus more environmental destruction, says Bitcoin Center NY co-founder, Austin E. Alexander.

In other words, Bitcoin could curb the high time preference, growth-focused economic policies of today that incentivize profligate consumption, environmental harm and yes…lots of wasted energy.

This is why the consequences of a Bitcoin standard may be “incalculable,” says economist and author of The Bitcoin Standard, Saifedean Ammous. He explains:

The benefits incurred from [switching from the horse to the automobile] are incalculable for us, primarily by not having to deal with horse manure as a permanent fixture of life. In a very similar way, the benefits of bitcoin lie in the horrors it would allow us to avoid by taking money production out of the hands of the state’s violent Keynesian barbarians.

Bitcoin, on the other hand, provides a nuetral, sound money alternative. Its digital scarcity as a result of its 21 million cap and counterfeit-proof nature, makes it deflationary.

Switching to a Bitcoin standard would certainly help lower individuals’ time preferences and yes, may ultimately be very, very good for the environment.

Do you agree that a sound money like Bitcoin may be good for the planet? Share your thoughts below!


Images via Shutterstock

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Úno 23

In-Depth Analysis Of Binance Coin (BNB) ‘Almost Scary,’ Says Binance CEO

Kyle Samani of Multicoin Capital, this week shared an in-depth analysis and valuation of Binance Coin (BNB). In fact, the report was so detailed that Binance CEO Changpeng Zhao described it as “almost scary.” Once he’d had time to properly read it, that is.


Spoiler: Multicoin Capital Is Long On $BNB

The conclusion of the report is that $BNB 00 is under-valued, so you can stop reading now and just go buy some…

I mean, duh. CZ was hardly going to tweet praise for the report if it concluded that $BNB wasn’t worth the (virtual) paper it was printed on. But the interesting aspect is his suggestion that the level of detail was “Almost scary”.

The suggestion here, of course, is that the details were highly accurate. Or alternatively, included things CZ hadn’t thought of but now intends to implement. For a company which, the CEO insists, makes no long-term plans, this could, therefore, give a rare insight into future direction.

Utility Tokens… or Securities?

$BNB tokens current value derives partly from their utility within the Binance ecosystem. They act as staking tokens, discount tokens, and payment tokens, offering several benefits to Binance users who hold them.

Additionally, Binance use 20% of quarterly profits to buy-back and burn $BNB, in a mechanism somewhat analogous to share buyback. Whilst the token is not a typical company share, this could denote it a security, depending on whose definition.

But according to Multicoin Capital, the under-valuation also relates to its potential within Binance Chain, the company’s decentralised exchange platform.

We believe that Binance will be the first for-profit corporation to start out centralized, achieve meaningful scale, and ultimately decentralize itself to become the first internet-sovereign organization, and the largest decentralized autonomous corporation (DAC).

When Binance announced their decentralised exchange, it claimed that “Binance will transition from being a company to a community.”

binance dex

Multicoin Capital expect this to mean that the value created by Binance DEX, will flow towards $BNB, rather than Binance equity.

Initially, the decentralized exchange will likely eat into the market share of the centralized offering. However, over a time-period of several years, we may see the majority of transactions migrate to the DEX platform.

Due to the nature of exchanges, natural market equilibrium tends towards one dominant player, and Binance are well-placed to fulfil that role. The company’s greatest risk was that a decentralised exchange might rise up and take its prize. With the upcoming launch of Binance Chain, this risk is mitigated.

What do you think of Binance coin (BNB)? Share your thoughts below!


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Úno 13

IMF Proposes to ‘Fork Off’ Cash From E-Money

Interest rates in many countries around the world are still languishing at near-zero levels since the last financial crash. Which doesn’t leave much space to move in the event of, say, the next financial crash. At least as far as cash is concerned. So the Intentional Monetary Fund (IMF) have been looking at solutions to make negative interest rates a viable option.


Less Than Zero

Recessions require tough measures, which has historically resulted in around 3-6 percent cut from interest base rates. But with many nations still maintaining near-zero rates from the last financial crisis, that doesn’t leave them much wiggle room.

The problem, of course, is cash, which has a lower-bound interest rate of zero by design. A negative base rate would necessitate commercial banks to either compress their margins or charge interest on deposits. And charging negative interest on deposits would likely cause a mass withdrawal of cash.

The IMF notes that:

…instead of paying negative interest, one can simply hold cash at zero interest. Cash is a free option on zero interest, and acts as an interest rate floor.

So why don’t we just get rid of cash?

Cashless Society

A cashless society would not be limited by a lower bound on interest rates of zero percent. Central banks could reduce the rate to a negative figure, forcing consumers to pay interest on deposits. This would encourage investing or simply spending money as a preferable option, boosting the economy.

ECB

But if cash exists then this cannot happen. People would simply hold cash at zero percent interest rather than paying for bank deposits in safes and mattresses.

Interestingly, countries such as largely-cashless Sweden have already pushed rates slightly below zero. The inconvenience and expense of taking out and holding large amounts of cash has deterred most depositors from doing so.

But cash still plays a significant role for payments in many countries such as Japan, Switzerland and Hungary. People kinda like the ‘P2p’ (person-to-person) nature of it.

Hard Fork

The solution proposed by the IMF would be to enact a divorce between cash and electronic money, creating two separate currencies. In doing this, a central bank could make cash as costly as a bank deposit with a negative interest rate.

Sounds great, doesn’t it? How can we make cash more costly? But it’s all to maintain the inflation target at all costs, according to the IMF. An excerpt reads:

While a dual currency system challenges our preconceptions about money, countries could implement the idea with relatively small changes to central bank operating frameworks. In comparison to alternative proposals, it would have the advantage of completely freeing monetary policy from the zero lower bound. Its introduction would reconfirm the central bank’s commitment to the inflation target, rather than raise doubts about it.

Anyway, the electronic currency (e-money) would pay the policy rate of interest (either positive or negative). Then cash would have an exchange rate to the e-money. In times of negative interest, the cash exchange rate would depreciate at the same rate as the negative interest.

Prices would be advertised separately in e-money and cash, so in terms of goods or e-money, there is no benefit to holding cash.

“This dual local currency system would allow the central bank to implement as negative an interest rate as necessary for countering a recession, without triggering any large-scale substitutions into cash,” the post reads.

Or you could always take your suitcase full of cash to a shady geezer you met on LocalBitcoins, and swap it for some shiny inflation-free Bitcoin.

IMF

Seriously. When the banks cause another financial crash, then tell us that they want to make all our money worthless. At that point, will anyone still have any faith at all left in the banking system?

It’s no wonder IMF’svery own head, Christine Lagarde, thinks fintech will “shake the financial system.”

Will central banks succeed in phasing out physical cash in the next 10 years? Share your thoughts below!


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Úno 02

My Bank App is Better Than Bitcoin for Payments (And That’s Fine)

The cryptocurrencies are faster and cheaper narrative has fizzled out as banks have embraced digital payments in recent years, improving customer experience and usability. Sure, buying a beer with a QR-code may give you a warm and fuzzy feeling, but it isn’t the problem Bitcoin solves. It is much more than that.


Banks Go Digital

An all-too-common narrative a few years back was that Bitcoin (and other cryptocurrencies) would outcompete the likes of Visa and Mastercard with speed and cheaper transactions.

“Won’t somebody think of the merchants” was an often-repeated argument in 2014-215 because credit card companies typically charge around 3 percent service fee to process payments.

Fast forward a few years and merchants haven’t budged. Nor are they jumping on payment-focused coins either like Litecoin, Bitcoin Cash, Dash etc. So why didn’t they stick it to Visa and switch to ‘crypto’?

Digital fiat payments have actually become not only more ubiquitous but also much easier and cheaper. Though the latter is partially due to costs being offset by selling customer info to advertisers (which is a topic for another article).

Banks have indeed upped their game as far as user-friendliness goes with mobile apps, contactless payments, in-app integration, you name it. In fact, it’s never been easier to part ways with your money than it is today.

contactless payment nfc pay to swipe card

My Bank Card Beats Your Favorite Coin

My card, given to me by my bank, is tied to an app on my phone so I can check my balance and track all my balance and transaction history. I was impressed when BTC wallets did this six years ago. But banks have caught up fast and are beating cryptocurrencies in this arena.

The card/app work seamlessly together enabling contactless payments in the store, on public transport, and pretty much anywhere Visa/Mastercard are accepted, which is literally everywhere.

Sure, discussing Bitcoin is fun and all. But sometimes I just want a quick coffee without proselytizing Bitcoin to a barista who obviously doesn’t care about censorship-resistance and decentralized consensus protocols.

I should also mention that my bank has excellent customer support. It knows who I am and will block anyone else from using my account with the press of a button on my smartphone. My bank will refund me any money lost due to fraud – which is very reassuring unlike that uneasy feeling of possibly sending BTC to the wrong address by mistake.

What’s more, I can send money instantly to my friends for absolutely zero fees. And why wouldn’t it be zero? My bank is using a good old database after all – not your blockchain that takes minutes to confirm.

In other words, big blocks, small blocks, medium-sized blocks – none of this can compete when it comes to the speed and efficiency of a centralized database for payments.

My bank app even has a QR-code option for in-person payments if I’m feeling extra Bitcoin-ish.

The Problem That Bitcoin Solves

Bitcoin, however, wasn’t meant to compete with Visa or Paypal. Digital payments were already gaining traction when Bitcoin spawned from the 2008 financial crisis.

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model.

– Satoshi Nakamoto, Bitcoin Whitepaper

Bitcoin was instead designed as an alternative to the central banking system that has historically abused the public’s trust. One hyperinflationary episode is all it takes and the money becomes worth less than the paper it’s printed on.

Bitcoin’s monetary policy, on the other hand, is completely transparent, its supply and inflation rate is known, and it’s the hardest form of money to ever exist. Yes, even more than gold because mathematical scarcity beats perceived scarcity. 

These attributes make it a money technology that has never existed before – and more importantly, removes the need to trust any intermediary.

In an article titled The Problem That Bitcoin solves, economist and The Bitcoin Standard author, Saifedean Ammous, explains:

[Paul Krugman] seems, mistakenly, to assume bitcoin is competing with consumer payment networks like Visa or PayPal….that is not what bitcoin is best suited for. Rather, bitcoin is an international settlement network, one that competes with the central bank settlement systems that are the foundation upon which networks like Visa or PayPal depend.

Therefore, the ‘payments for coffee on the blockchain’ narrative is dying because paying for stuff and accepting digital payments today isn’t a problem for people.

However, the public is also slowly realizing why Bitcoin isn’t going away. Particularly as publications like Time magazine release articles titled ‘Why Bitcoin Matters for Freedom’ and places like Venezuela are demonstrating how Bitcoin is literally saving lives.

That’s not to say that payments aren’t important. This and other use-cases will be built as ‘apps’ harnessing the trustless Bitcoin blockchain (e.g. Lightning Network). But they’re secondary to what’s really at stake here in an increasingly authoritarian and cashless fiat system: financial sovereignty.

Do you agree that Bitcoin’s primary role is to preserve financial sovereignty? Share your thoughts below!


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Pro 26

Perfect Storm: Bitcoin Didn’t Exist in the Last Financial Crisis

Bitcoin has been quietly preparing for over a decade for the next market storm as a non-political alternative to the money printing pyramid.


Bitcoin Separates Money and State

Bitcoin was forged by the last great financial crisis of 2008 and designed to thrive in financial turmoil.

“Bitcoin adoption has always been driven by bank failures, bailouts, bail-ins, and political unrest,” said Max Keiser in an interview with Bitcoinist earlier this month.

It’s certainly no coincidence that Satoshi Nakamoto left a message in the first ever mined Bitcoin block —known as the genesis block. It famously contains the dated title of an FT article:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

The anonymous creator hints that Bitcoin is a non-political alternative to the existing financial system. The Bitcoin whitepaper could, in fact, be interpreted by some as a declaration of the separation of money and state. 

Bitcoin was an inevitability  a solution to downfalls of the trust-based monetary system — in which central banks and governments have historically abused that trust at the expense of the public.

For almost fifty years now, the de facto global currency has essentially been running on ‘full faith and credit’ only. The problem is that when this faith is tested by the markets (i.e. reality), credit-fuelled bubbles are exposed. When they go pop, liquidity dries up and cash once again becomes king.

Bitcoin: Trust Buster

So it’s no surprise that cash injections — euphemistically known as QE (Quantative Easing) — have become the preferred drug prescribed by central banks to fuel the longest bull market in history. 

At the same time, the demand for the US dollar hasn’t waned but actually risen. This phenomenon may have impacted the price of bitcoin 00 this year, according to Keiser.

“The problem Bitcoin has had recently is its competitor, the US Dollar, has been rising,” he explains.

When the dollar rolls over and starts dropping, Bitcoin will hit new ATH.

Meanwhile, critics say it’s too volatile to be a safe haven alternative. Its price has admittedly dropped by 85 percent from its all-time high in 2017. But proponents, like Max Keiser and many others, argue that short-term price fluctuations do not matter if the legacy fiat monetary system is inherently flawed.

They also note that savvy investors are realizing the long-term value proposition of holding the world’s most politically-neutral, hard form of money.

Simply put, trusting no one pays off for those who wait.

Bitcoin Transfers Value From the Sodler to the Hodler

Saifedean Ammous, economist and author of the Bitcoin Standard, states that Bitcoin’s attributes, particularly immutability and neutrality, make it attractive to investors with a long-time preference.

saifedean

Saifedean Ammous

He explained:

Bitcoin has already gone through 9 years of growth out in the wilds of the internet, mostly without a central planner in charge of it after its creator disappeared. It grew because it offered utility to enough users and developers to keep maintaining it.

It has weathered attacks and hacks and ‘community conflict’ and plenty of powerful interests and questionable characters trying to bend it to their will. After all of this, Bitcoin can indeed claim to be immutable. Once it became clear Bitcoin was successful at doing this, then anyone who was interested in an immutable digital hard money could use it.”

Coinbase President Asiff Hirji, whose San Francisco-based exchange launched a custodial platform for institutional investors earlier this year, also sees Bitcoin and cryptocurrencies rewarding the patient in the future.

According to Hirji, none of Coinbase’s investors speculated on BTC price when they valued the exchange at $8 billion earlier this year. They weren’t betting on what the price will be “today, tomorrow or even a year from now,” he said 

“If that’s your time horizon, as an institutional investor, you shouldn’t be touching this,” adds Hirji.

Fragile Fiat

From a security standpoint, centralized money systems are also honeypots. Centralized infrastructure is prone to hacks and shut down compared to a much more robust decentralized network like Bitcoin, which has been operating 24/7 with 99.8 percent uptime.

What’s more, third-parties aren’t just security holes. They are also structurally political. A duopoly such as Visa and Mastercard, for example, can (and do) restrict access for their own reasons, and even have the power to push other companies to toe the line.

bakkt earnings season Wall Street's Old Guard Has A Double Standard When It Comes To Bitcoin

The next global financial crisis is baked into the fiat cake. It’s a matter of not if, but when.

Will Bitcoin be ready? Only time will tell. But with warning signs already surfacing such as global social unrest and the markets tanking, the test may come sooner rather than later. 

Do you consider Bitcoin the perfect long-term investment? Share your thoughts below! 


Images courtesy of Bitcoinist archives, Shutterstock

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Pro 15

3 Cryptocurrencies Decoupling From Bitcoin into 2019 (PAL, TRX, WAVES)

2018 was underwhelming compared to 2017. The bear market went into full swing and most cryptocurrencies lost over eighty percent. Bitcoin has begun decoupling from many cryptocurrencies including those having some of the biggest developments of 2018. WAVES, TRX, and PAL are three cryptocurrencies that have persevered through the bear market. These three projects exceeded expectations and even demonstrated an important decoupling from BTC.


Cryptocurrencies PAL, WAVES, and TRX Decouple

Even during the bear market, there were major events in many cryptocurrency projects. PAL, TRON, and WAVES all had major developments as many cryptocurrency projects were imploding.

TRX (Tron) which as of December 31, 2017, was not in the Top 15 cryptocurrencies had a very important year regarding development. The TRX team burned 1 billion tokens and launched their mainnet in May. The mainnet was further developed the following month with the release of Odyssey 2.0.

Odyssey 2.0 is intended to be a public blockchain that supports decentralized applications. TRX also announced a $100 million gaming fund to increase the development and use of TRX in games. These developments during the height of the bear market speak volumes about TRON’s team and their dedication. Their founder Justin Sun is an outspoken, well-educated, blockchain advocate who has been a great leader for the TRX project.

WAVES (Waves) has been the most notable cryptocurrency regarding decoupling from BTC. Bitcoin price 00 has struggled the prior few months having corrected over forty percent this month alone. WAVES is the self-proclaimed fastest blockchain platform with real-world solutions for trading on a decentralized exchange (DEX) and running smart contracts.

Instead of correcting with the majority of the market following BTC lower, WAVES has actually increased from $1.45 November 14, to $2.35 per coin as of December 14. What is more impressive is not the dollar value increase, but WAVES going from 25250 Satoshis to 72138 Satoshis during that same period. Increasing almost two hundred percent against Bitcoin even though BTC fell almost fifty percent.

PAL (PAL Network) would be considered the cryptocurrency “moonshot” on this list due to their tiny market cap. WAVES is ranked #22 with TRX being ranked #9 by market capitalization. PAL’s market cap at just under $2 million is less than 1/100th of WAVES and 1/400th of TRX’s. The multiple aspects that make PAL noteworthy.

They were selected from over 60 entrants to be a part of the PayPal Incubator. Their mainnet launch was moved up to the end of December, three months ahead of schedule. PAL partnered with major projects such as NEM, QTUM, DGX, and MEDX. Their CEO and Founder Val Ji-hsuan Yapwas was featured in Forbes Asia 30 under 30. Having under a $2 million market cap was interesting, but beating deadlines by months with a top tier CEO is noteworthy.

The cryptocurrency markets were miserable to watch if you were long on blockchain projects, ICOs, and BTC in 2018. Those who were shorting the market enjoyed a nice ride but all tides turn eventually. As 2019 approaches projects that disregarded market conditions and continued to persevere should be one’s HODL focus.

PAL (PAL Network) 

With a market cap under $2 million and impressive volume, PAL seems fairly intriguing at 00. Earlier this year the PAL team was selected among three others to be a part of the PayPal Incubator Singapore. This prestigious award and notoriety by PayPal demonstrate PAL’s long-term connections in the Asia region. PayPal was impressed enough to place them in their incubator program, but why?

PAL’s CEO and Founder, Val Ji-Hsuan Yapwas was awarded Forbes Asia 30 Under 30 award. This award by Forbes further compliments the notoriety provided to this cryptocurrency by PayPal. It seems the technology and notoriety behind PAL is primarily in Asia, even as their blockchain model tends to focus on the United States. Both Forbes and PayPal have taken an interest into PAL and their Founder/CEO.

Beating deadlines in a bear market means the team is very committed. Originally PAL’s mainnet was scheduled to go live in quarter one of 2019. This date has been moved up to the end of December. If history repeats, cryptocurrencies have a tendency to trend North in value as their mainnet approaches. Releasing PAL’s mainnet months early demonstrates the team’s confidence in their platform.

Partnerships create utility and project awareness in the blockchain space. PAL not surprisingly has partnered with many major key projects. The most notable ones include NEM, QTUM, DGX, and MEDX. The importance of PAL’s partnerships will be determined following their mainnet launch depending on the partners’ utilization of the PAL network.

With notable partners, an exceptionally important Founder and CEO, a team dedicated to beating deadlines, an early mainnet release, being selected by PayPal and Forbes, and having a market cap under $2 million makes PAL a noteworthy acquisition target for 2019.

TRX (TRON)

TRX recently re-entered the Top 10 Cryptocurrencies by market cap with some impressive bear market news. TRX Company recently announced a $100 million gaming fund. Providing this much financial support to develop dApps on your Odyssey 2.0 blockchain demonstrates your company’s commitment to the platform. This amount of financial support will clearly drive adoption and development on the platform. It is very surprising that TRX is able to commit this amount of money during the height of the bear market. It seems they are poised for dApp development in 2019 and possibly major adoption.

Justin sun

In May, Tron launched their mainnet. Odyssey 2.0 went live in June as TRX burned 1 billion tokens. These 1 billion tokens were valued at $50 million at the time of the token burn.  The most important developments for TRX this entire year was the combination of the mainnet and Odyssey 2.0. TRX stayed true to their roadmap even with the markets providing difficult conditions to stay positive about.

The CEO of TRX Company, Justin Sun, is a very impressive figure in the cryptocurrency space. He is the founder of TRX and has led his community and project on a well-planned journey thus far. Recently he stated he would “rescue” ETH and EOS developers from their failing platform. This is likely part of what he had in mind when they announced a $100 million development fund.

With a very progressive and active founder combined with a team that has met and exceeded deadlines all year, TRX is worth keeping an eye on.

With a market cap in excess of $800 million, TRX has the highest market cap on this list. Their price per cryptocurrency currently is 00. However, with an $800 million market cap comes very impressive technological developments. Their TPS (transactions per second) are far greater than Ethereum’s at 2000 TPS.

WAVES

The most noteworthy aspects about WAVES the past month has been their decoupling from BTC’s price movement. It has been commonplace for the majority of cryptocurrencies to trend north or south with BTC. However, more recent projects have become more independent of Bitcoin price movement. WAVES has been one of the market leaders in this decoupling.

The price of each WAVES cryptocurrency has increased from $1.45 to 00 the prior thirty days. The Satoshi increase is even more exciting haven gone from 25,250 Satoshis to 72,138 satoshis during that same period. The price of BTC and the majority of altcoins in the cryptocurrency market collapsed the prior month. However, WAVES trended upwards in dollar value and more importantly, BTC value.

WAVES is both a decentralized exchange and smart contracts platform. They pride themselves on their speed but what intrigues me most is their multifaceted platform. Many cryptocurrencies are created for a sole purpose. The WAVES platform has developed into something far more than just a decentralized exchange or just a smart contracts platform. Being multifaceted as a cryptocurrency has allowed WAVES to trend north while the majority of smart contract platforms have underperformed BTC as it went south in recent weeks.

Why Waves is the Best Option for Airdrops

WAVES has a market cap of $252 million and is poised for a strong 2019 following their decoupling from BTC the prior few months. Being multifaceted, WAVES can pivot when one business (ICOs) are undergoing regulatory changes to focus on their DEX. WAVES has a market cap that is over one hundred times larger than PAL’s as their platforms are much more developed.

Looking to 2019

Cryptocurrency bear markets have a tendency to last one to two years. The bull markets have statistically lasted under 3 months. This means the bear market is not necessarily over. However, the cryptocurrency markets as a whole have generally pumped as the halving approaches and passes. The BTC halving is under 540 days away.

The markets may not turn bullish tomorrow, this week, or even this year. However, it is very likely when the public least expects it, that they turn the most bullish.

The cryptocurrencies that focused on BUIDLing during this bear market period will likely be the ones to continue to exist and thrive through the next bull-run.

[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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Lis 17

One Cryptocurrency to HODL, Two to FODL (YOYO, BCHABC, BCHSV)

Forks can be beneficial to the cryptocurrency space. This is specifically true when they add desired attributes to underlying cryptocurrencies. In many instances, forks do not bring any benefit but are the result of infighting.


Cryptocurrency Chaos: BCHSV and BCHABC

Cryptocurrencies dealing with infighting and hash wars should be avoided while coins reaching milestones with tiny market caps should be accumulated. Following this logic, both Bitcoin Cash forks should be sold, while the project YOYO deserves major recognition. YOYO is a HODL, while BCHSV and BCHABC are both immediate FODLs.

“BTC is the new stable coin,” was the resounding statement the prior month. Right as the entire cryptocurrency market expected stability from the market leader it lost more than 10 percent in under 48 hours. Many speculated about the reasoning but it seems fairly clear to those who did a little investigating.

Bitcoin Price Analysis: Will Bitcoin Bite Back?

The Bitcoin Cash [BCH] 00 fork sent the market into a tailspin this week. Now that the BCH fork has concluded it seems the same fork that created market panic has demonstrated bullish market signals.

Let’s start with the lovely ticker symbols: BCHSV and BCHABC.

Bitcoin Cash price technical analysis BCH

How can anyone take someone seriously when they claim “BCHABC is the original BTC.” The sentence is almost laughable. When the parties that tore BTC apart were working in tandem to try to be the ‘original BTC’ they had a chance. Albeit a small chance, one that existed. Now having forked their fork, neither Bitcoin maximalist nor novice cryptocurrency trader will believe BCHSV or BCHABC is the “original bitcoin.”

Could either be a possible winner regarding a short-term trade? Sure, however, regarding long-term utility, neither solves a problem BTC 00 has not already resolved, and neither have communities like the original BTC.

With discussions raging regarding a hash war between the two new BCH chains, it seems like neither is the ‘right’ choice in the short term.

To capitalize on the market rebound that is likely to occur from this week’s overcorrection small caps on the largest exchanges should be targeted.

A cryptocurrency that clearly meets most investors guidelines with a tiny market cap on major exchanges is YOYO.

YOYO (YOYOW)

 YOYO, is a clever acronym for “You Own Your Own Words.” YOYOW trades under the ticker symbol YOYO 00. The concept behind YOYO is very simple; you own what you create. The content a user creates deserves to be rewarded.

What makes YOYO a unique acquisition target, especially during this week’s correction are multiple things:

  1. Confirmation speeds of 3 seconds compared to BTC’s 10 minutes.
  2. A throughput of more than 3,000 transactions per second.
  3. The first blockchain authorization login.
  4. Network governance for token holders.
  5. The total circulating supply is equal to the total supply.
    1. This means all coins are in circulation and the team is unlikely to be able to ‘dump’ on the market during major price shifts.
  6. The market cap is under $7.5 million and is traded on multiple Top 5 exchanges.
  7. 2018 Q3: Dapps were integrated.
  8. 2018 Q4: Token Feature Optimization, Authorization Feature, Lockup Feature, and Dividend.
  9. 2019 Q1: Enable Content Rewards.

Finbitex

There are almost 10 reasons that make YOYO a short-term acquisition target as they roll out their content rewards at the beginning of next quarter. Confirmation speeds of just seconds mean your cryptocurrency can be sent anywhere and received before a sentence can be completed. Being able to process 3,000 transactions per second means as a payment for content provider they will be well ahead of the curve.

YOYO intends to be the first blockchain with authorization login. This feature will separate YOYO from the majority of other similar content platforms. Those who hold tokens of any cryptocurrency appreciate being able to help govern the platform, this attribute will be implemented for YOYO imminently.

The market cap of YOYO being under $7.5 million makes it a ripe target for rapid growth as any substantial news or meeting of deadlines will push the market cap exponentially higher.

Despite the bear market, YOYO continued to integrate Dapps while building out their reward and incentive platforms. This quarter has the implementation of many of YOYO’s coin features. This includes their Authorization Feature, Lockup Feature, Dividend, and Governance.

It does not appear that either BCH fork added any value to the cryptocurrency space but instead created a 48-hour correction. Due to their lack of adding real value or utility both BCH forks should be avoided.

YOYO is a project that deserves the attention being diverted to unnecessary forks and market corrections.

Look for YOYO to outperform during any rebound the next few days and through the possible upcoming bull run.

[Disclaimer: This views expressed in this article do not reflect the views of Bitcoinist and should not be taken as financial advice. Also, this is the first time the word FODL has been used (opposite of HODL)**]


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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Lis 10

Cryptocurrencies to Target for the Next Bull-Run (OAX, XLM, HOT)

Cryptocurrencies OAX, HOT, and XLM are worth looking into if you’re looking for coins with the best chance to outperform Bitcoin price in Q4 2018. 


Small Cap Vs. Low Price Cryptos (A Trader’s Mindset)

The mindset of a cryptocurrency trader in a bull vs. a bear market is vastly different. During the last bull-run, two types of cryptocurrencies had a tendency to ‘pump.’ Ones with very low market caps on big exchanges and those with very low prices.

The coins with low market caps, dedicated teams, with the network to get listed on top exchanges should be acquisition targets heading into the next bull-run vs. the alternative of buying low priced coins.

A very low market cap coin with major unknown quarter four events: OAX, should perform exceptionally well in the short term. 

The market sentiment has continued to shift from the summer of 2018 through the beginning of quarter four. With crypto personalities and technical analysis pointing to a December bull-run, the question becomes fairly obvious: How does one take advantage of the shifting of market sentiment and the possible impending moonshot?

Amusement park ride

The last bull run which concluded 2017 had two main types of cryptocurrencies that saw significant pumps. These two types included very low cost per coin cryptocurrencies regardless of their market capitalization. The other type were coins that had a very low market cap. Coins with a low market cap are the coins which should be targeted vs. the ones that the price seems “cheap” on.

Most individuals who are not accustomed to cryptocurrencies do not realize the importance of market capitalization vs. actual price.

For example: consider 2 cryptocurrencies, one is trading at $0.50 the other at $2.00, the first has a market cap of $100 million, the second has a market cap of $5 million.

Which is the better investment if both are about to have $1 million in demand of the cryptocurrency generated by an announcement?

The answer is the second, with a $5 million market cap and $2.00 price. The reason for this is if $1 million of demand is generated for a cryptocurrency with a $5 million market cap the total market cap will increase to $6 million. This 20% increase in market cap will be reflected by the price increasing by 20%, from $2.00 to $2.40.

The first coin with a market cap of $100 million would now have a market cap of $101 million and the $.50 crypto would have increased to $0.505. If you purchased the cryptocurrency with the lower market cap you would make 20% compared to 2% for the coin with the higher market cap.

With all else equal it is always a better idea to target a lower market cap cryptocurrency vs. one with a ‘lower price.’

OAX has one of the smallest market caps on Binance and is my #1 acquisition target for this reason, along with many others. For those wanting a lower price coin with a significantly higher market cap HOT and XLM are fantastic options.

OAX

OAX 00 is one of the lesser known and discussed cryptocurrencies, which is a great reason to begin targeting it before the Twitter personalities and “whales” begin their accumulation. OAX is also listed on the highest volume exchange, Binance, which is notorious for solely listing tier 1 projects.

So what is OAX’s project that impressed Binance enough to list?

I had the pleasure of discussing with the OAX team many aspects about their project during a recent interview. According to Wayland Chan who is the Technology Lead of the OAX Foundation, by the end of 2018 OAX will “deliver a stand-alone DEX using the work done building a scalable layer 2 solution.” This very significant event is not listed on cryptocurrency calendar websites nor is it commonly known in the space.

What is most impressive about OAX’s decentralized exchange (“DEX”) is that they plan to have an “off-chain order book, off chain order execution, as well as no custody of user assets.” OAX could be the scalable solution that DEX’s have sought for years. The OAX project is very ambitious but having secured a Binance listing their legitimacy should not be challenged.

The first prototype of the DEX was delivered in June and since the developer have been finalizing the layer 2 solution using off-chain solutions to solve the performance problems of blockchains.

According to OAX’s Technology Lead,

We’ve made huge strides…and expect to soon announce some big news that will definitely rock the boat.

As much as I pressed I was unable to get an inside glance at what this ‘breakthrough’ was.

This year, OAX was trading as high as $2.28, having dropped to under $0.35 since. With their platform becoming a reality, now is the perfect time to acquire a position. The future of OAX looks very bright. OAX plans to have a layer 2 working prototype by the end of 2018. Their DEX has the potential to revolutionize the exchange community and the scaling difficulties they face.

ICOs were all the craze at the end of 2017, DEXs are becoming the next craze with looming regulations and government crackdowns already underway. With decentralized exchanges becoming the new ‘hot thing’ and the bear market coming to an end, OAX clearly is an acquire and HODL for traders and investors alike.

OAX is one of the few cryptocurrencies that could re-approach their all-time high, once the crypto community awakens to the significance of their project.

HOT

How does HOT (Holochain) 00 compete against other cryptocurrencies in the space?

HOT has a lower “price per coin” than OAX but their market cap is almost 20x higher than OAX’s. This means if both HOT and OAX received the same amount of publicity the price of HOT would move 5% while the price of OAX would move 100%.

This is the main reason targeting smaller cap cryptos with platforms on the cusp of development makes for better “moonshot” investments than targeting a crypto with a $100 million-plus market cap.

However, HOT does get a unique award for being the least expensive coin on Binance (even though it has a huge market cap). During a bull run new ‘dumb’ money enters the market and they flock to both the cheapest coin and the ones with the lowest market caps (once they get a bit smarter). HOT qualifies as the “cheapest cryptocurrency on Binance,” and therefore money will likely flow into it the minute the markets start moving North.

Understanding market caps makes those looking to choose between HOT and OAX, pick OAX very easily. However, when choosing an investment, it is important to look beyond the market cap. How is the team? What is the product or platform?

Holochain is distributed hosting, owned and run by the users. The goal of HOT is to facilitate businesses and communities to build the next internet paradigm. Their goals seem to be extravagant but the team is continuously pushing forward with their roadmap.

For those wanting to capitalize on new ‘dumb’ money rushing into the crypto space in the next few months, HOT is not a bad option. OAX will likely to provide much higher returns than the larger market cap coins like HOT, however, diversification should not be overlooked for short-term profits.

XLM 

XLM (Stellar Lumens) 00 has been all over the news this week with their announcement of the Blockchain wallet giving away $125 million XLM.

This coupled with their likely imminent addition to Coinbase makes them a short-term speculatively play receiving a lot of attention. With a market cap in the Top 10 cryptocurrencies and a coin value of under $1.00, XLM could post impressive gains.

Stellar: Headed Towards $1?

However, that “moon” that everyone is searching for is unlikely to come from a cryptocurrency with a $1 billion-plus market cap. One can expect reasonable gains following a Coinbase listing but that is truly what all are HODLing for at this point.

Even though XLM is unlikely to post gains associated with coins that have less than a $10 million market cap, they still have plenty of exciting developments occurring.

XLM has partnered with IBM to allow them to use their Stellar network to bring more transparency into their payment structure. Analysts have predicted this partnership could actually replace the current SWIFT/IBAN structure as the global standard. If this partnership results in anything relevant XLM will have moon potential even as a $1 billion-plus market cap cryptocurrency.

Another one of XLM’s unique partnerships is with Veridium and IBM to tokenize carbon credits globally. This is one of many partnerships that will make XLM relevant for the short and long term.

The projects for XLM continue with Stellar X. This is Stellar’s version of a DEX. Also:

  • Open Garden is a project that allows users to turn their phone into a hotspot while earning a reward in XLM for data used.
  • TillBilly is Stellar’s version of a point of sale system, easing the burden of a paper receipt.
  • SmartLands looks to tokenize agricultural lands on the Stellar Network.
  • Sure Remit is one of the leading remittance networks in Africa that allows the transfer of funds. They have partnered with Stellar and have branches in Kenya, Rwanda, and many other African countries.

The list of partnerships and use cases for XLM go on and on. XLM is a great long-term HODL when compared to other cryptocurrencies in the Top 10. However, for significant short-term gains, lower market cap cryptocurrencies with major under the radar events are better options.

Cryptocurrencies Ranked By Risk

As new money rushes into the crypto space it will likely end up in 1 of 2 places: very low-cost coins, or very low market cap coins. Regarding percentage return, it is always better to target low market cap coins, not just ‘low cost’ coins.

This is why OAX is a favorite this week with their DEX on the horizon, a 1 on 1 interview, and a Binance listing; this project is well positioned being one of the smallest market cap coins on Binance. With little public awareness regarding their underlying news, OAX could be one of the most significant gainers of quarter four. If OAX ends quarter four with a market cap of $28 million, it will have returned over 200% for those reading this article.

HOT will likely be a target of ‘dumb’ money searching for a cheap coin on the biggest exchanges. Once they learn what a market cap is they will likely switch their position. The HOT project is a great one, but regarding undervalued cryptocurrencies, there are better options.

XLM may be a Top 10 cryptocurrency but with a Coinbase listing seeming imminent and partnerships that compete with Ripple they will likely post positive returns in the short-term. This is important as they are positioned for long-term success as well. Their short-term gains will likely be inferior to those with micro-caps but their guaranteed success long term reduces a great amount of investor risk.

Those seeking the highest risk, highest reward crypto should target OAX. Those wanting a safer play that is likely to still post positive gains, XLM is the choice. For those wanting to chase dumb money entering the market HOT is an okay choice, but OAX will likely still post better returns based on their market cap being 1/20th of the size.

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 belong solely to the author and do not reflect the views of Bitcoinist. They are intended as opinion for educational purposes and should not be taken as financial advice.]


Images courtesy of Shutterstock

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Lis 03

3 Cryptocurrencies Likely to Beat BTC Price Short-Term (WaBi, BNB, TRX)

Who can beat BTC price in the short term? This week three very unique coins have been selected: WaBi, BNB, and TRON. WABI looks to be the top contender to produce the highest returns as a cryptocurrency.


Market Conditions

The price stagnation within BTC price 00 has led to many mini altcoin rallies. Cryptocurrencies highlighted in similar articles such as GOChain increased well over 100% since their being selected as an ‘undervalued cryptocurrency.’

These current market conditions represent a spring coiling in the cryptocurrency space. Summer was filled with negative news about Bitcoin and blockchain. However, since quarter four has begun there has been no real BTC positive price movement. This is contrary to the news which has been positive for over a month.

Last week saw:

  • NYSE’s parent company announced December 12th as their launch date for Bakkt (BTC settled USD pairs).
  • The country of Singapore invested directly in Binance.
  • The country of China which had previously different styles of bans on ICOs and crypto ruled BTC as property.
  • Coinbase added USDC.
  • Bitfury considering an IPO (not ICO).

The prior week in blockchain and cryptocurrency has seen BTC stagnate even with the spectacular news. The spring has been coiled and the question that remains is which cryptocurrency will appreciate against BTC in the next few weeks to few months?

When analyzing the market to see which coins have already had their mini bulls runs it becomes increasingly obvious that WaBi, BNB, and TRON should all have major positive movement.

WABI has the smallest market cap and significant quarter four news. Most of their news has yet to be announced but an exclusive interview with the founder this week provided some inside details. BNB and TRON are likely to produce returns far greater than BTC’s due to their communities and utility.

However, WABI is the most undervalued on this list as TRON and BNB have market caps over $1 billion, while WABI’s market cap is under $20 million.

Although a higher risk cryptocurrency play, WABI is most likely to produce the highest returns when compared to BTC and other cryptocurrencies in the market.

stock market quotes

WaBi 

WaBi 00 is a cryptocurrency with under a 20 million dollar market cap, is traded on Binance, has major events and news all quarter four, and provided an exclusive interview with the founder for this piece. Not only is right now the opportune time to research WaBi but it radiates as an undervalued cryptocurrency.

Walimai is a safe-channel ecosystem for consumer products. The purpose of Walimai is to secure supply chains of important consumer goods (such as baby milk). So what is the WaBi?

Well the WaBi is provided as an incentive for scanning anti-counterfeit labels of WaBi products. This helps drives consumer awareness of the product’s transition through the supply chain and insures product safety.

China (where WaBi is predominantly located) has had multiple scandals involving food which has resulted in large scale accidental poisonings. WaBi looks to solve the issue of supply chain monitoring for consumer goods and has found a way to incentivize the public for participating in the process.

The WaBi cryptocurrency once attained can be used to discount the cost of consumer products along with improving delivery terms. This demonstrates clear utility in a niche market which needed blockchain support (consumer goods and the supply chain).

Why is now the time for WaBi? According to CoinMarketCal WaBi is undertaking a full rebranding in quarter four, they are going to open up sales to South East Asia, Latin America, and Europe, and they plan to introduce Walimai Labels for pharmaceuticals as well. This is a very impressive roadmap for quarter four which led to my desire to speak directly to the Founder, Alex.

In my exclusive interview with the WaBi Founder, I was able to uncover a few more details regarding the upcoming big news. The rebranding is not just the altering of some colors. WaBi is about to undergo a full rebranding regarding the name, colors, fonts, websites (WaBi and Walimai). They have been working with a top design agency while having interviewed almost 1000 users regarding user friendliness and aesthetics. Their rebranding is the first of its kind because they are bringing the active WaBi community into the process. They are providing prizes to supporters who participate in the rebranding, holding an almost scavenger hunt to ‘find’ the new website and additional features.

A cryptocurrency rebranding is very exciting especially because of how different WaBi plans to handle it. Immediately following the rebranding WaBi intends to have a major press release push, almost identical to what they did in 2017 when they were featured on BBC, CNBC, Business Insier, Reuters, and many more (this prior PR push dramatically increased WaBi’s value). The rebranding, budget allocated for major advertising and press releases all take place in quarter four. The public only knows the basics about the rebranding and has no idea a major publicity campaign is about to begin.

The WaBi token is being introduced to a large number of convenience stores across Asia where deals are being negotiated currently to accept WaBi as a form of payment (not just as a discount or to improve shipping terms). This is one of the biggest surprises as once completed the WaBi cryptocurrency will be able to be spent simply across their biggest market demographic.

WaBi’s roadmap positions them with a focus on developed parts of the world where there is the lowest access to quality authentic imported goods. Places like China where counterfeit goods are rampant have been fast to adopt the WaBi coin and Walimai platform.

The WaBi team has been adding new hires and continuing to build out their platform during this extended bear market. The development team has seen 5 new hires added in the last few months. While most cryptocurrencies have been hiding in the shadows of the bear market WaBi has been building at an unprecedented rate.

The last poignant point Alex, the Founder of WaBi made was in regards to my question, “Given the market fluctuations since the ICO how has your coin coped?”

He was very direct in his response. WaBi is up 71% against BTC in the prior year, 8% against the USD, and 158% against ETH compared to their ICO prices. Their focus shifted entirely from publicity and marketing to internal product and core team development. He was also very quick to mention how supportive and active their community is, one of the main reasons WaBi fared so well against other cryptocurrencies. This internal development and platform enhancement is about to pay significant dividends in quarter 4 once the rebranding is complete and the PR campaign goes into full swing.

My final question was regarding the long-term plans for WaBi. I was excited to hear WaBi plans to enter the alcohol products arena as many parts of the world have suffered toxic counterfeit alcohol poisonings. This expansion of products is followed by their expansion to new demographics in different parts of the world.

Many supply chain cryptocurrencies have market caps in excess of 1 billion dollars. WaBi has a working platform, a utilizable token, a quarter four with more exciting news than 99% of cryptocurrencies, a dedicated team, and expansion at an unprecedented rate.

If there was a cryptocurrency that had a significant likelihood of “mooning” in quarter four due to every possible positive factor going their way, it would be WaBi. Look for WaBi to test 50-200% returns in the short term depending on how quickly the traders and investors look ahead to the cryptocurrency calendars.

BNB – Binance Coin

For those that actively trade or even occasionally invest it is obvious to “own” where you trade. The BNB 00 token is the native token of the Binance exchange. By possessing BNB in your account many benefits are provided from lower trading fees to earning a higher percentage of the fees generated by your referrals. If you have any referrals or make any trades it only makes sense to own the required 500 BNB to lower your fees while increasing your referral bonus.

Binance

It was only last week that Singapore announced directly investing in the Binance platform. Financial capitals of the world are taking a keen interest in the largest and most respected cryptocurrency exchange. Binance also announced that in their first week in Uganda they signed up over 40,000 users. Africa being underbanked and needing financial stability will likely turn to cryptocurrencies to combat hyperinflation. Exchanges will capitalize on this with Binance making early moves into the continent. This was not the only positive news for BNB and Binance this week.

Travelbybit is integrating BNB as a payment method across all their platforms and merchants. BNB originally had very little utility beyond the benefits it provided for ‘hodling’ on Binance (lower trading fees and a higher referral bonus). However, the BNB cryptocurrency is pivoting from a coin used solely to benefit Binance traders to one that can be openly transacted and utilized on the same level as the predominant players like BTC. This not only greatly increases the utility of BNB but when utility increases price usually follows soon after.

What about Binance’s fearless leader that seems to maneuver through any regulatory hurdle thrown his way? Changpeng Zhao or more commonly known in the crypto space as “CZ” is one of the most influential individuals in the entire blockchain community. Not only did he manage to build what has been continuously ranked as the #1 exchange by volume in under two years but also actively engages the community, attends conferences, and is exceptionally humble for all he’s accomplished. CZ is hands down one of the most active Founders in the space and his influence is rivaled by almost no one.

Supporting a coin that CZ is the Founder of, is the ‘baby’ of the largest cryptocurrency exchange, has news that regularly adds more utility (can now be used to pay for travel), and provides daily benefits for just HODLING makes BNB a top candidate for accumulation prior to the next bull run.

There will be a flood of new traders to the biggest exchanges when the Altseason begins, at that point it will be too late to buy BNB. The time to accumulate coins that are likely to trend North in the short term is not once Altseason has begun, but prior with enough time to enjoy the gains.

BNB is a cryptocurrency with a market cap over a billion dollars that should easily see 100% returns at the nearest sign of the next bull run.

TRX – TRON

 The cryptocurrency community has been all over the place regarding their feelings about TRON. TRX 00 is a cryptocurrency that like many has been on the hot seat through the bear market. Say what you want about TRX, the reality is their community is one of the most devoted and loyal in crypto. The only more enthusiastic community may be XRP enthusiasts. With TRX regularly being supported by their community regardless of market conditions this cryptocurrency popped onto the radar this week because of their upcoming quarter four news.

TRX plans to release their open-source platform on December 29, 2018. It seems many cryptocurrencies have a feeling the second half of quarter 4 will provide many catalysts. TRX’s open-source platform will provide a revolutionary smart contract and Dapps platform. This is when true utility begins. With their open-source platform going live in the final week of quarter four TRX seems like an acquisition target prior to gem hunters finding this news.

This week on November 1, Coinsuper listed TRX paired against both BTC and ETH. Even with the majority of top exchanges already supporting TRX their team has committed to continued listings. This shows that both the developers are hard at work on their open source platform while the community managers and Founders are focused on reaching out to exchanges and networking.

Directly following quarter four TRX hosts the Nitron Summit January 17 and 18 in San Francisco. TRX is fiscally positioned to be able to host conferences, pay for major exchange listings, fund future development, all through a bear market. If this does not demonstrate dedication in the crypto space, nothing will.

Justin Sun, the Founder of TRON is also one of the more influential individuals in crypto. Having such an influential, well connected, and educated blockchain leader is positive for any cryptocurrency.

TRX has their open source Dapp platform going live before the end of the year, they are hosting a major conference in San Francisco in January and were just listed on Coinsuper. For a ‘safer’ cryptocurrency play TRX seems to have many important catalysts through early January.

Beat BTC Price: Take Your Pick

Cryptocurrency is a risky environment to be trading, gambling, and investing in. However, with enough research, a significant portion of risk can be mitigated. Not every cryptocurrency selected will appreciate as no trader/investor is an oracle.

However, by analyzing almost every coin on Binance thoroughly, I’ve intentionally selected the ones that have the highest probabilities to appreciate in the short term based on upcoming news, their community, market sentiment, their teams, and many other factors.

The highest risk cryptocurrency, which is likely to produce the greatest returns from the cryptocurrencies on this list is WaBi. Their marketing plan coupled with a rebranding, platform expansion, demographic expansion, dedicated team, communicative founders, and major quarter four news provide more catalysts than most can expect.

Look for WaBi to outperform almost every cryptocurrency on Binance in the next few days through the end of December.

Changpeng Zhao Binance

For those looking for a safer ‘blue chip’ option, the cryptocurrency of choice would be BNB. CZ could not be more dedicated or passionate about crypto. Hopefully, more individuals emulate his behavior in the space over the long term. BNB benefits every hodler on Binance and as more traders begin trading again BNB will become highly sought after.

TRX has had the hype train take it on a wild ride. However, quarter four has plenty of reasons that as a cryptocurrency it should appreciate. Hosting conferences and open source platforms built for Dapps is a fantastic start regarding catalysts.

WaBi remains a coin that can likely breach a $100 million market cap providing a 6x for those that accumulate prior to the market cap surpassing $20 million. Given the high-risk high reward nature of crypto, WaBi should be on the “accumulation and research list” for those looking for major quarter four gains.

[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 King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports). The King is the founder of ANON and actively trades cryptocurrencies.


Images courtesy of Shutterstock, Bitcoinist archives

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Říj 27

10 Years On: Five Things Needed for the Mass Adoption of Bitcoin

It’s been ten years since Satoshi Nakamoto published the Bitcoin White Paper and introduced cryptocurrencies to the world. His radical vision of a decentralized peer-to-peer electronic cash system was groundbreaking, as it sought to rebuild the structures that upheld our global financial institutions. A decade on, the cryptocurrencies market is now worth $209 billion globally, and there are more than a thousand separate tokens in circulation.


[Note: This is a guest op-ed article submitted by Samuel Leach, Founder of Yield Coin]

Despite this success, Nakamoto’s vision is yet to be fully realized. Although “cryptos” and associated phrases have entered the popular language, and awareness of them is at an all-time high, uptake has been restricted to a narrow subset of society.

Bloomberg estimates that around a thousand users own approximately 40 percent of all bitcoin currently in circulation and cryptos have failed to supplant fiat currency. Before we see the mass adoption of cryptocurrencies, there are a number of obstacles that first need to be overcome.

Regulation

While regulation is often treated as a pariah among many in the crypto community, if executed properly, it will bring beneficial change for all. Cryptocurrencies have only been in existence for a relatively short amount of time meaning many governments are still figuring out the best way to regulate them. The result of this has been a crypto market structured in a laissez-faire fashion. While it can be argued that this has fostered further innovation, it has undoubtedly led to several negative side effects.

At present, anyone could set-up a new cryptocurrency and raise significant capital without having to face repercussions if they fail to implement their plans. This has reduced overall confidence in the market, as it can be difficult to differentiate legitimate projects from nefarious ones. This is also preventing many institutional investors from entering the market, as the lack of regulatory guidelines will lead to compliance issues on their part.

Volatility

A daily price swing of 10-20 percent is not uncommon among most cryptos, making them exceptionally volatile in comparison to fiat currencies; in comparison, the pound lost 4 percent of its value against the dollar on the infamous Black Wednesday. Finding a way to temper this instability would go some way to certifying cryptos as legitimate currencies.

Bitcoin Price Volatility

At the moment, it would take a very brave consumer and equally brave merchant to conduct a transaction using cryptocurrencies. The inherent volatility of most cryptos means consumers run the risk of massively overpaying and similarly, the outlet risks the value of the crypto received being eroded.

Practicality, Usability & Accessibility

While cryptocurrencies have seen some mainstream usage among investors interested in day trading and investing, this uptake hasn’t been reflected by everyday consumers.  This is mostly due to crypto’s impracticality for day-to-day usage. Some of this is due to its price volatility but a more central factor is the lack of businesses who are willing to accept it as a form of payment. If individuals are unable to find a legitimate use case for their crypto, then its value as a form of electronic cash is zero. Further, the process of acquiring crypto itself is difficult, meaning uptake has been restricted to a tech-savvy subset of the overall population.

It should be noted, however, that while numerous solutions are in place allowing the spending of bitcoin via third-party services such as gift cardsBTMs, etc. — this often adds friction and introduces more middlemen into the experience.

BTCPay is a Better (and Cheaper) BitPay, Says Core Developer Nicolas Dorier cryptocurrencies

Security

In the beginning, cryptocurrency related crime was almost non-existent, but as the market has grown, it has attracted the attention of organized scammers and hackers. Earlier this year, criminals stole $530 million worth of crypto from the Coincheck exchange, and there have been many other examples of large-scale thefts.

With ‘traditional’ financial systems, when a payment is made, third parties ensure that the transaction goes through and if anything does go wrong, they are liable for recovering the funds. Similarly, if your credit or debit card information is stolen, then you aren’t responsible for any transactions made. With cryptos, however, it is the user’s responsibility to ensure that all the data associated with a transaction is correct. If a user’s private key is stolen, then crypto can be stolen with a low chance of recovery.

Understanding

Research has found that 38 percent of the British population do not ‘understand’ cryptocurrency. With the commonly held misconception that it is a tool for criminals to launder money being the most cited reason for mistrusting it. While those involved in the community understand the revolutionary possibilities of cryptos, the wider public still needs further education on the potential benefits.

For those not familiar with trading concepts, the notional value and artificial scarcity that underpins crypto may be hard to grasp.  Further, the existing way in which money has been exchanged for goods has been long established, and cryptocurrencies will require people to think about transactions in an entirely new way.

Without a doubt, the introduction of cryptos has been revolutionary. However, whether we are within the midst of a complete reconstitution of the financial system remains to be seen. If the engineers and developers involved with cryptos can find a way to deal with the intense volatility and lack of widespread understanding around cryptos, then their benefits will be able to be enjoyed by all.

Do you agree with these barriers to adoption? Are there more? Share your thoughts below!


Images courtesy of Shutterstock

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