Succeed With the Next Bitcoin Halving Less Than 12 Months
Succeed With the Next Bitcoin Halving Less Than 12 Months
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Ultimate glossary of crypto currency terms, acronyms and abbreviations
How to purchase and exchange your litecoin! (longer read)
This post will show you the best ways to buy litecoins using many different payment methods and exchanges for each method. Before you start, make sure you have a good litecoin wallet to store your LTC. NEVER store your litecoins on a crypto exchange.
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“Instant Buy” option available with debit card
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Highest limits for buying bitcoins with a credit card
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Buy Litecoin with Credit Card or Debit Card
Let’s dive into some of the exchanges supporting Litecoin credit card purchases. These exchanges are our favorite ways to buy.
Coinbase is the easiest way to buy litecoins with a credit card. Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia. The fees will come out to 3.99% per purchase. Here is a good video that can help walk you through the process of buying on Coinbase, although it’s fairly easy.
Coinmama recently added the ability to buy litecoin directly on the platform. Users from nearly any country in the world can use Coinmama to buy litecoins. Coinmama has some of the highest limits among credit card exchanges.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using a credit card from most European countries.
CEX.io is based in the UK and is one of the oldest crypto exchanges online. CEX.io supports litecoin and its users from nearly anywhere in the world can buy litecoin with credit card on the platform.
Buy Litecoin with Bank Account or Bank Transfer
Coinbase is the easiest way to buy litecoins with a bank account or transfer. Coinbase, like is is for credit cards, is available in the United States, Canada, Europe, UK, Singapore, and Australia. Coinbase is one of primary exchanges used to buy Litecoins. Americans can use ACH transfer (5–7 days wait), and Europeans can use SEPA transfer (1–3 days wait). The fees will come out to 1.49% per purchase.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using SEPA transfer from most European countries. You can also use SOFORT, NETELLER, or GiroPay.
CEX.io also supports litecoin buys via bank account. This is via wire transfer for US citizens, SEPA for Europe, and SWIFT for the rest of the globe.
Binance is now one of the largest if not the largest cryptocurrency exchange in the world. It supports bank and card purchases of Litecoin as well as Litecoin trading pairs with Bitcoin and Etehreum.
Get a Litecoin Wallet
Before we move onto other options: Never store your litecoins on an exchange! Always withdrawal your litecoin to an offline cryptocurrency wallet like the Ledger Nano S or any other wallet that you control. The Ledger Nano S and TREZOR are the best options for secure storage.
Other Methods to Buy Litecoin
If you don’t have a card or want to avoid the high fees, you can use the following methods to buy Litecoin as well. Find out which one works best for you.
Buy Litecoin with PayPal
Unfortunately, there is no easy way to buy Litecoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litecoin, unless you live in the United States. If you live in the US, the only way to buy Litecoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litecoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Litecoin.
Buy Litecoin with Cash
There is no good way to buy litecoins with cash. LocalBitcoins is the most popular way to buy bitcoins with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC. So you will have to first buy bitcoins with cash then exchange them for LTC using the method described below. The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for litecoins.
Buy Litecoin with Bitcoin
If you already have Bitcoins then it is VERY simple to convert some of your BTC to litecoins. You just need to find an exchange with the LTC/BTC pair, which is most exchanges since LTC/BTC is a very popular pair to trade.
Buy Litecoin with Skrill
BitPanda, mentioned above, also accepts Skrill payments for LTC. The fees will vary and are simply included in your buy price.
Cryptmixer is probably the fastest way to convert BTC to Litecoin. You just enter the amount of LTC you want to buy, and give them a LTC address. Then they will tell you how much BTC to send to their address. Once your BTC is sent, you will have LTC delivered to your wallet very shortly after.
Buy Litecoin with Ethereum
Ethereum has experienced a massive price rise. Nearly a year ago it was $10, and now at over $500, many want to move some of their ETH gains into other coins like Litecoin. Litecoin has very good liquidity, and is very popular among traders especially in China. So this guide is going to show you how to buy litecoins with Ethereum. We will show some of the best exchanges you can use, and the pros and cons of using different types of exchanges over the other.
Cryptmixer is one of the most unique exchanges, and also one of the fastest ways to convert your ETH to LTC. With Cryptmixer you do not even need to store your money with the exchange, meaning you are at very little risk of getting your funds stolen. With Cryptmixer you simply specify the amount of LTC you want to buy, and specific the address to where your litecoins should be sent and within 30 minutes you will have LTC delivered to your wallet.
Poloniex is the world’s largest altcoin exchange. However, there is a huge downside to using Poloniex to convert your ETH to LTC: Poloniex does not have a LTC/ETH market, meaning you have to first trade your ETH to BTC, and then trade your BTC for LTC. While this method works, you will have to make multiple trades and also pay fees twice.
Shapeshift is basically the same as Cryptmixer, and was actually the first company to come up with the concept of an exchange that does not hold your own funds.
Frequently Asked Questions About Buying Litecoin
Many of you may still have lots of questions about how to buy Litecoin. Odds are we have answered almost any question you could think of below. We will aim to answer many of the most common questions relating to buying Litecoin.
Why are there limited options to buying Litecoin using other altcoins?
The issue in all crypto markets is liquidity. As the space gets bigger, the liquidity also gets better. But as of now, the only VERY liquid cryptocurrency is Bitcoin. So exchanging two altcoins between each other is often harder than if BTC was involved on one side of the trade.
How much is a Litecoin worth?
Like all currencies, the value of Litecoin changes every second. The value of Litecoin also depends on the country you are in and the exchange you are trading on. You can find the most up to date price on Coinbase.
How do I buy Ripple (XRP) with Litecoin?
The best way to buy Ripple using Litecoin is to either use a non KYC exchange like Cryptmixer or start an account on Binance or Coinbase Pro and sell your Litecoin for Ripple. Look for LTC/XRP trading pairs, and make your trade.
How long does Litecoin take to confirm?
Litecoin blocks are added ever 2 and a half minutes. That means you should get one confirmation every two and a half minutes. This can vary if it takes miners longer to discover a block, but the difficulty of the finding a block should change proportionate to the hashing power on the network so that a block gets added approximately every 2.5 minutes. If you are trying to send money to a merchant, they may require more than one confirmation before they send you products. If you are depositing on an exchange, they may also require three or more confirmations before they credit your account.
How many Litoshis make one Litecoin?
one hundred million (100,000,000) Litoshis make one (1) Litecoin.
Where do I store Litecoin?
The best place to store litecoin is on a hardware wallet. You can find the best one for you on our page dedicated to hardware wallets.
When is the Litecoin halving?
The expected date of the next Litecoin block reward halving is August 7th, 2023.
Why can litecoin take so long to buy?
Litecoin can take long to buy because the legacy banking system is very slow. If you are buying with another cryptocurrency, you will see how fast it is to buy! Bank transfer in the USA, for example, take about 5 days to complete. So any purchase of Litecoin made with a US bank transfer will take a minimum of 5 days.
How do I buy Litecoin with Paypal?
Unfortunately, there is no easy way to buy Litcoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litcoineum, unless you live in the United States. If you live in the US, the only way to buy Litcoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litcoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Cryptmixer to swap the Bitcoin for Litcoin.
Can you buy partial litecoins?
Yes, litecoin, like Bitcoin, is divisible to many decimal places so you can buy 0.1 LTC, 0.001 LTC, etc.
Can you sell litecoin?
Yes, you can sell LTC on most of the exchanges mentioned above. The fees, speed, and privacy is the same in most cases.
Can anyone buy litecoins?
Anyone is free to buy litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in litecoin, too.
Which payment method is best to use?
For speed, credit card will likely be fastest. For larger amounts, bank transfer is best. For privacy, it’s best to buy bitcoins with cash and then trade for litecoins using Cryptmixer or Shapeshift.
Is it better to mine or buy litecoins?
If you have cheap electricity, it might be worth it to mine litecoins. If you have solar power or just want to mine for fun then it could be worth it. Otherwise, it’s probably better just to buy. Mining is constantly changing and small changes in Litecoin price or electricity can greatly affect your profitability.
What should I do with my litecoins once I buy?
You should immediately move your litecoins into a secure wallet. You should never leave your litecoins on an exchange. There have been countless hacks in cryptocurrency since Bitcoin was created in 2009. Hundreds of thousands of people have lost money. So buy your litecoins, and then instantly send them into a wallet you control so you are not at risk of losing money to a hack or scam.
Some are coming back to join and invest again in cryptocurrency. The indicators were the growing market of cryptocurrency may it be bitcoin or altcoins. Bitcoin and other altcoins had positively recovered after some time when bitcoin was halving way back Feb of 2019. I thought that bitcoin that time will be dead. However, I was wrong, and seeing now cryptocurrency still alive and kicking made me feel happy again. I had now come to a search again on which crypto could be good for investment and lead me to yahoo finance site on their listing of the top 5 best crypto to invest with. yahoo finance noted on the top 5 best cryptos for investment. This is their list as follows:
The basis was market capitalization and liquidity. More of the stories here is the link https://finance.yahoo.com/ Basically the choices were good and I guess many could agree with their list. Bitcoin is always good for the newbie in investing crypto so this would be the best choice. With regards to ethereum, I can't say anything about it but the ethereum platform is next to bitcoin because its platform has been paired to new projects like ICO projects but most of ICO is a scam. Neo is also good but in my case, it is not available in exchanges or apps that I am using the same as neo. Ripple is available and one of the volatile crypto good for starters in trading crypto the same as BCH. Since I only used the exchange to which being approved and given licensed from the government to operate and it influences my choice of crypto and comes up with a different top list of good crypto to invest with. Here is my choice,
﷽ The Federal Reserve and the United States government are pumping extreme amounts of money into the economy, already totaling over $484 billion. They are doing so because it already had a goal to inflate the United States Dollar (USD) so that the market can continue to all-time highs. It has always had this goal. They do not care how much inflation goes up by now as we are going into a depression with the potential to totally crash the US economy forever. They believe the only way to save the market from going to zero or negative values is to inflate it so much that it cannot possibly crash that low. Even if the market does not dip that low, inflation serves the interest of powerful people. The impending crash of the stock market has ramifications for Bitcoin, as, though there is no direct ongoing-correlation between the two, major movements in traditional markets will necessarily affect Bitcoin. According to the Blockchain Center’s Cryptocurrency Correlation Tool, Bitcoin is not correlated with the stock market. However, when major market movements occur, they send ripples throughout the financial ecosystem which necessary affect even ordinarily uncorrelated assets. Therefore, Bitcoin will reach X price on X date after crashing to a price of X by X date.
Stock Market Crash
The Federal Reserve has caused some serious consternation with their release of ridiculous amounts of money in an attempt to buoy the economy. At face value, it does not seem to have any rationale or logic behind it other than keeping the economy afloat long enough for individuals to profit financially and politically. However, there is an underlying basis to what is going on which is important to understand in order to profit financially. All markets are functionally price probing systems. They constantly undergo a price-discovery process. In a fiat system, money is an illusory and a fundamentally synthetic instrument with no intrinsic value – similar to Bitcoin. The primary difference between Bitcoin is the underlying technology which provides a slew of benefits that fiat does not. Fiat, however, has an advantage in being able to have the support of powerful nation-states which can use their might to insure the currency’s prosperity. Traditional stock markets are composed of indices (pl. of index). Indices are non-trading market instruments which are essentially summaries of business values which comprise them. They are continuously recalculated throughout a trading day, and sometimes reflected through tradable instruments such as Exchange Traded Funds or Futures. Indices are weighted by market capitalizations of various businesses. Price theory essentially states that when a market fails to take out a new low in a given range, it will have an objective to take out the high. When a market fails to take out a new high, it has an objective to make a new low. This is why price-time charts go up and down, as it does this on a second-by-second, minute-by-minute, day-by-day, and even century-by-century basis. Therefore, market indices will always return to some type of bull market as, once a true low is formed, the market will have a price objective to take out a new high outside of its’ given range – which is an all-time high. Instruments can only functionally fall to zero, whereas they can grow infinitely. So, why inflate the economy so much? Deflation is disastrous for central banks and markets as it raises the possibility of producing an overall price objective of zero or negative values. Therefore, under a fractional reserve system with a fiat currency managed by a central bank – the goal of the central bank is to depreciate the currency. The dollar is manipulated constantly with the intention of depreciating its’ value. Central banks have a goal of continued inflated fiat values. They tend to ordinarily contain it at less than ten percent (10%) per annum in order for the psyche of the general populace to slowly adjust price increases. As such, the markets are divorced from any other logic. Economic policy is the maintenance of human egos, not catering to fundamental analysis. Gross Domestic Product (GDP) growth is well-known not to be a measure of actual growth or output. It is a measure of increase in dollars processed. Banks seek to produce raising numbers which make society feel like it is growing economically, making people optimistic. To do so, the currency is inflated, though inflation itself does not actually increase growth. When society is optimistic, it spends and engages in business – resulting in actual growth. It also encourages people to take on credit and debts, creating more fictional fiat. Inflation is necessary for markets to continue to reach new heights, generating positive emotional responses from the populace, encouraging spending, encouraging debt intake, further inflating the currency, and increasing the sale of government bonds. The fiat system only survives by generating more imaginary money on a regular basis. Bitcoin investors may profit from this by realizing that stock investors as a whole always stand to profit from the market so long as it is managed by a central bank and does not collapse entirely. If those elements are filled, it has an unending price objective to raise to new heights. It also allows us to realize that this response indicates that the higher-ups believe that the economy could crash in entirety, and it may be wise for investors to have multiple well-thought-out exit strategies.
Economic Analysis of Bitcoin
The reason why the Fed is so aggressively inflating the economy is due to fears that it will collapse forever or never rebound. As such, coupled with a global depression, a huge demand will appear for a reserve currency which is fundamentally different than the previous system. Bitcoin, though a currency or asset, is also a market. It also undergoes a constant price-probing process. Unlike traditional markets, Bitcoin has the exact opposite goal. Bitcoin seeks to appreciate in value and not depreciate. This has a quite different affect in that Bitcoin could potentially become worthless and have a price objective of zero. Bitcoin was created in 2008 by a now famous mysterious figure known as Satoshi Nakamoto and its’ open source code was released in 2009. It was the first decentralized cryptocurrency to utilize a novel protocol known as the blockchain. Up to one megabyte of data may be sent with each transaction. It is decentralized, anonymous, transparent, easy to set-up, and provides myriad other benefits. Bitcoin is not backed up by anything other than its’ own technology. Bitcoin is can never be expected to collapse as a framework, even were it to become worthless. The stock market has the potential to collapse in entirety, whereas, as long as the internet exists, Bitcoin will be a functional system with a self-authenticating framework. That capacity to persist regardless of the actual price of Bitcoin and the deflationary nature of Bitcoin means that it has something which fiat does not – inherent value. Bitcoin is based on a distributed database known as the “blockchain.” Blockchains are essentially decentralized virtual ledger books, replete with pages known as “blocks.” Each page in a ledger is composed of paragraph entries, which are the actual transactions in the block. Blockchains store information in the form of numerical transactions, which are just numbers. We can consider these numbers digital assets, such as Bitcoin. The data in a blockchain is immutable and recorded only by consensus-based algorithms. Bitcoin is cryptographic and all transactions are direct, without intermediary, peer-to-peer. Bitcoin does not require trust in a central bank. It requires trust on the technology behind it, which is open-source and may be evaluated by anyone at any time. Furthermore, it is impossible to manipulate as doing so would require all of the nodes in the network to be hacked at once – unlike the stock market which is manipulated by the government and “Market Makers”. Bitcoin is also private in that, though the ledge is openly distributed, it is encrypted. Bitcoin’s blockchain has one of the greatest redundancy and information disaster recovery systems ever developed. Bitcoin has a distributed governance model in that it is controlled by its’ users. There is no need to trust a payment processor or bank, or even to pay fees to such entities. There are also no third-party fees for transaction processing. As the ledge is immutable and transparent it is never possible to change it – the data on the blockchain is permanent. The system is not easily susceptible to attacks as it is widely distributed. Furthermore, as users of Bitcoin have their private keys assigned to their transactions, they are virtually impossible to fake. No lengthy verification, reconciliation, nor clearing process exists with Bitcoin. Bitcoin is based on a proof-of-work algorithm. Every transaction on the network has an associated mathetical “puzzle”. Computers known as miners compete to solve the complex cryptographic hash algorithm that comprises that puzzle. The solution is proof that the miner engaged in sufficient work. The puzzle is known as a nonce, a number used only once. There is only one major nonce at a time and it issues 12.5 Bitcoin. Once it is solved, the fact that the nonce has been solved is made public. A block is mined on average of once every ten minutes. However, the blockchain checks every 2,016,000 minutes (approximately four years) if 201,600 blocks were mined. If it was faster, it increases difficulty by half, thereby deflating Bitcoin. If it was slower, it decreases, thereby inflating Bitcoin. It will continue to do this until zero Bitcoin are issued, projected at the year 2140. On the twelfth of May, 2020, the blockchain will halve the amount of Bitcoin issued when each nonce is guessed. When Bitcoin was first created, fifty were issued per block as a reward to miners. 6.25 BTC will be issued from that point on once each nonce is solved. Unlike fiat, Bitcoin is a deflationary currency. As BTC becomes scarcer, demand for it will increase, also raising the price. In this, BTC is similar to gold. It is predictable in its’ output, unlike the USD, as it is based on a programmed supply. We can predict BTC’s deflation and inflation almost exactly, if not exactly. Only 21 million BTC will ever be produced, unless the entire network concedes to change the protocol – which is highly unlikely. Some of the drawbacks to BTC include congestion. At peak congestion, it may take an entire day to process a Bitcoin transaction as only three to five transactions may be processed per second. Receiving priority on a payment may cost up to the equivalent of twenty dollars ($20). Bitcoin mining consumes enough energy in one day to power a single-family home for an entire week.
Trading or Investing?
The fundamental divide in trading revolves around the question of market structure. Many feel that the market operates totally randomly and its’ behavior cannot be predicted. For the purposes of this article, we will assume that the market has a structure, but that that structure is not perfect. That market structure naturally generates chart patterns as the market records prices in time. In order to determine when the stock market will crash, causing a major decline in BTC price, we will analyze an instrument, an exchange traded fund, which represents an index, as opposed to a particular stock. The price patterns of the various stocks in an index are effectively smoothed out. In doing so, a more technical picture arises. Perhaps the most popular of these is the SPDR S&P Standard and Poor 500 Exchange Traded Fund ($SPY). In trading, little to no concern is given about value of underlying asset. We are concerned primarily about liquidity and trading ranges, which are the amount of value fluctuating on a short-term basis, as measured by volatility-implied trading ranges. Fundamental analysis plays a role, however markets often do not react to real-world factors in a logical fashion. Therefore, fundamental analysis is more appropriate for long-term investing. The fundamental derivatives of a chart are time (x-axis) and price (y-axis). The primary technical indicator is price, as everything else is lagging in the past. Price represents current asking price and incorrectly implementing positions based on price is one of the biggest trading errors. Markets and currencies ordinarily have noise, their tendency to back-and-fill, which must be filtered out for true pattern recognition. That noise does have a utility, however, in allowing traders second chances to enter favorable positions at slightly less favorable entry points. When you have any market with enough liquidity for historical data to record a pattern, then a structure can be divined. The market probes prices as part of an ongoing price-discovery process. Market technicians must sometimes look outside of the technical realm and use visual inspection to ascertain the relevance of certain patterns, using a qualitative eye that recognizes the underlying quantitative nature Markets and instruments rise slower than they correct, however they rise much more than they fall. In the same vein, instruments can only fall to having no worth, whereas they could theoretically grow infinitely and have continued to grow over time. Money in a fiat system is illusory. It is a fundamentally synthetic instrument which has no intrinsic value. Hence, the recent seemingly illogical fluctuations in the market. According to trade theory, the unending purpose of a market or instrument is to create and break price ranges according to the laws of supply and demand. We must determine when to trade based on each market inflection point as defined in price and in time as opposed to abandoning the trend (as the contrarian trading in this sub often does). Time and Price symmetry must be used to be in accordance with the trend. When coupled with a favorable risk to reward ratio, the ability to stay in the market for most of the defined time period, and adherence to risk management rules; the trader has a solid methodology for achieving considerable gains. We will engage in a longer term market-oriented analysis to avoid any time-focused pressure. The Bitcoin market is open twenty-four-hours a day, so trading may be done when the individual is ready, without any pressing need to be constantly alert. Let alone, we can safely project months in advance with relatively high accuracy. Bitcoin is an asset which an individual can both trade and invest, however this article will be focused on trading due to the wide volatility in BTC prices over the short-term.
Technical Indicator Analysis of Bitcoin
Technical indicators are often considered self-fulfilling prophecies due to mass-market psychology gravitating towards certain common numbers yielded from them. They are also often discounted when it comes to BTC. That means a trader must be especially aware of these numbers as they can prognosticate market movements. Often, they are meaningless in the larger picture of things.
Volume – derived from the market itself, it is mostly irrelevant. The major problem with volume for stocks is that the US market open causes tremendous volume surges eradicating any intrinsic volume analysis. This does not occur with BTC, as it is open twenty-four-seven. At major highs and lows, the market is typically anemic. Most traders are not active at terminal discretes (peaks and troughs) because of levels of fear. Volume allows us confidence in time and price symmetry market inflection points, if we observe low volume at a foretold range of values. We can rationalize that an absolute discrete is usually only discovered and anticipated by very few traders. As the general market realizes it, a herd mentality will push the market in the direction favorable to defending it. Volume is also useful for swing trading, as chances for swing’s validity increases if an increase in volume is seen on and after the swing’s activation. Volume is steadily decreasing. Lows and highs are reached when volume is lower.
Therefore, due to the relatively high volume on the 12th of March, we can safely determine that a low for BTC was not reached.
VIX – Volatility Index, this technical indicator indicates level of fear by the amount of options-based “insurance” in portfolios. A low VIX environment, less than 20 for the S&P index, indicates a stable market with a possible uptrend. A high VIX, over 20, indicates a possible downtrend. VIX is essentially useless for BTC as BTC-based options do not exist. It allows us to predict the market low for $SPY, which will have an indirect impact on BTC in the short term, likely leading to the yearly low. However, it is equally important to see how VIX is changing over time, if it is decreasing or increasing, as that indicates increasing or decreasing fear. Low volatility allows high leverage without risk or rest. Occasionally, markets do rise with high VIX.
As VIX is unusually high, in the forties, we can be confident that a downtrend for the S&P 500 is imminent.
RSI (Relative Strength Index): The most important technical indicator, useful for determining highs and lows when time symmetry is not availing itself. Sometimes analysis of RSI can conflict in different time frames, easiest way to use it is when it is at extremes – either under 30 or over 70. Extremes can be used for filtering highs or lows based on time-and-price window calculations. Highly instructive as to major corrective clues and indicative of continued directional movement. Must determine if longer-term RSI values find support at same values as before. It is currently at 73.56.
Secondly, RSI may be used as a high or low filter, to observe the level that short-term RSI reaches in counter-trend corrections. Repetitions based on market movements based on RSI determine how long a trade should be held onto. Once a short term RSI reaches an extreme and stay there, the other RSI’s should gradually reach the same extremes. Once all RSI’s are at extreme highs, a trend confirmation should occur and RSI’s should drop to their midpoint.
Trend Definition Analysis of Bitcoin
Trend definition is highly powerful, cannot be understated. Knowledge of trend logic is enough to be a profitable trader, yet defining a trend is an arduous process. Multiple trends coexist across multiple time frames and across multiple market sectors. Like time structure, it makes the underlying price of the instrument irrelevant. Trend definitions cannot determine the validity of newly formed discretes. Trend becomes apparent when trades based in counter-trend inflection points continue to fail. Downtrends are defined as an instrument making lower lows and lower highs that are recurrent, additive, qualified swing setups. Downtrends for all instruments are similar, except forex. They are fast and complete much quicker than uptrends. An average downtrend is 18 months, something which we will return to. An uptrend inception occurs when an instrument reaches a point where it fails to make a new low, then that low will be tested. After that, the instrument will either have a deep range retracement or it may take out the low slightly, resulting in a double-bottom. A swing must eventually form. A simple way to roughly determine trend is to attempt to draw a line from three tops going upwards (uptrend) or a line from three bottoms going downwards (downtrend). It is not possible to correctly draw a downtrend line on the BTC chart, but it is possible to correctly draw an uptrend – indicating that the overall trend is downwards. The only mitigating factor is the impending stock market crash.
Time Symmetry Analysis of Bitcoin
Time is the movement from the past through the present into the future. It is a measurement in quantified intervals. In many ways, our perception of it is a human construct. It is more powerful than price as time may be utilized for a trade regardless of the market inflection point’s price. Were it possible to perfectly understand time, price would be totally irrelevant due to the predictive certainty time affords. Time structure is easier to learn than price, but much more difficult to apply with any accuracy. It is the hardest aspect of trading to learn, but also the most rewarding. Humans do not have the ability to recognize every time window, however the ability to define market inflection points in terms of time is the single most powerful trading edge. Regardless, price should not be abandoned for time alone. Time structure analysis It is inherently flawed, as such the markets have a fail-safe, which is Price Structure. Even though Time is much more powerful, Price Structure should never be completely ignored. Time is the qualifier for Price and vice versa. Time can fail by tricking traders into counter-trend trading. Time is a predestined trade quantifier, a filter to slow trades down, as it allows a trader to specifically focus on specific time windows and rest at others. It allows for quantitative measurements to reach deterministic values and is the primary qualifier for trends. Time structure should be utilized before price structure, and it is the primary trade criterion which requires support from price. We can see price structure on a chart, as areas of mathematical support or resistance, but we cannot see time structure. Time may be used to tell us an exact point in the future where the market will inflect, after Price Theory has been fulfilled. In the present, price objectives based on price theory added to possible future times for market inflection points give us the exact time of market inflection points and price. Time Structure is repetitions of time or inherent cycles of time, occurring in a methodical way to provide time windows which may be utilized for inflection points. They are not easily recognized and not easily defined by a price chart as measuring and observing time is very exact. Time structure is not a science, yet it does require precise measurements. Nothing is certain or definite. The critical question must be if a particular approach to time structure is currently lucrative or not. We will measure it in intervals of 180 bars. Our goal is to determine time windows, when the market will react and when we should pay the most attention. By using time repetitions, the fact that market inflection points occurred at some point in the past and should, therefore, reoccur at some point in the future, we should obtain confidence as to when SPY will reach a market inflection point. Time repetitions are essentially the market’s memory. However, simply measuring the time between two points then trying to extrapolate into the future does not work. Measuring time is not the same as defining time repetitions. We will evaluate past sessions for market inflection points, whether discretes, qualified swings, or intra-range. Then records the times that the market has made highs or lows in a comparable time period to the future one seeks to trade in. What follows is a time Histogram – A grouping of times which appear close together, then segregated based on that closeness. Time is aligned into combined histogram of repetitions and cycles, however cycles are irrelevant on a daily basis. If trading on an hourly basis, do not use hours.
Daily Lows Mode for those Months: 1, 1, 2, 4, 12, 17, 18, 24, 25, 28, 29, 30
Hourly Lows Mode for those Months (Military time): 0100, 0200, 0200, 0400, 0700, 0700, 0800, 1200, 1200, 1700, 2000, 2200
Minute Lows Mode for those Months: 00, 00, 00, 00, 00, 00, 09, 09, 59, 59, 59, 59
Day of the Week Lows (last twenty-six weeks):
Weighted Times are repetitions which appears multiple times within the same list, observed and accentuated once divided into relevant sections of the histogram. They are important in the presently defined trading time period and are similar to a mathematical mode with respect to a series. Phased times are essentially periodical patterns in histograms, though they do not guarantee inflection points Evaluating the yearly lows, we see that BTC tends to have its lows primarily at the beginning of every year, with a possibility of it being at the end of the year. Following the same methodology, we get the middle of the month as the likeliest day. However, evaluating the monthly lows for the past year, the beginning and end of the month are more likely for lows. Therefore, we have two primary dates from our histogram. 1/1/21, 1/15/21, and 1/29/21 2:00am, 8:00am, 12:00pm, or 10:00pm In fact, the high for this year was February the 14th, only thirty days off from our histogram calculations. The 8.6-Year Armstrong-Princeton Global Economic Confidence model states that 2.15 year intervals occur between corrections, relevant highs and lows. 2.15 years from the all-time peak discrete is February 9, 2020 – a reasonably accurate depiction of the low for this year (which was on 3/12/20). (Taking only the Armstrong model into account, the next high should be Saturday, April 23, 2022). Therefore, the Armstrong model indicates that we have actually bottomed out for the year! Bear markets cannot exist in perpetuity whereas bull markets can. Bear markets will eventually have price objectives of zero, whereas bull markets can increase to infinity. It can occur for individual market instruments, but not markets as a whole. Since bull markets are defined by low volatility, they also last longer. Once a bull market is indicated, the trader can remain in a long position until a new high is reached, then switch to shorts. The average bear market is eighteen months long, giving us a date of August 19th, 2021 for the end of this bear market – roughly speaking. They cannot be shorter than fifteen months for a central-bank controlled market, which does not apply to Bitcoin. (Otherwise, it would continue until Sunday, September 12, 2021.) However, we should expect Bitcoin to experience its’ exponential growth after the stock market re-enters a bull market. Terry Laundy’s T-Theory implemented by measuring the time of an indicator from peak to trough, then using that to define a future time window. It is similar to an head-and-shoulders pattern in that it is the process of forming the right side from a synthetic technical indicator. If the indicator is making continued lows, then time is recalculated for defining the right side of the T. The date of the market inflection point may be a price or indicator inflection date, so it is not always exactly useful. It is better to make us aware of possible market inflection points, clustered with other data. It gives us an RSI low of May, 9th 2020. The Bradley Cycle is coupled with volatility allows start dates for campaigns or put options as insurance in portfolios for stocks. However, it is also useful for predicting market moves instead of terminal dates for discretes. Using dates which correspond to discretes, we can see how those dates correspond with changes in VIX. Therefore, our timeline looks like:
2/14/20 – yearly high ($10372 USD)
3/12/20 – yearly low thus far ($3858 USD)
5/9/20 – T-Theory true yearly low (BTC between 4863 and 3569)
Dear EWMCI Followers, Hope everyone is doing well and staying healthy! Lots of exciting stuff in the crypto space, with probably the most important upcoming development being the halving of the Bitcoin reward. This event alone is likely to send ripples across the entire crypto community and most crypto markets (except perhaps the stablecoins). Basically, the supply of new Bitcoins will be cut in half, resulting in an instant negative supply shock. In addition to likely increases in Bitcoin price, the reduced reward amount may force some of the less profitable miners to cease mining, contributing to re-distribution of hashing power across other projects. Here is some of the latest scoop on our three indices - Gold (large caps); Silver (mid caps); and Bronze (small caps): Gold Index - This week set a new record of sorts. More specifically, we saw the 7th consecutive increase in weekly index value (that's over 2.5 months of continued weekly gains). There are probably many different factors responsible for this, but most likely the Bitcoin halving and the severely oversold crypto market (due to COVID-19) are likely the principal determinants of the current bullish trend. I would say that a correction at this point is probably, but primary (e.g., bullish) trend reversal is unlikely in the short term. Silver Index - Similar to Gold Index, only better! Last week's performance (nearly 12% increase) was quite impressive and put the Silver Index within the striking distance of the all-time-high set back in February, 2020. Similar to the Gold Index, I do expect that there will be a bit of a pull-back in the near future, but the longer-term trend seems to be bullish at the moment. Bronze Index - With a slight increase (1.6% this week) the Bronze Index inched a bit closer toward all-time high and is currently resting comfortable at a very strong support level around $83-85. From here, the most likely scenario will be a bit more consolidation and then a strong upward movement, especially with Bitcoin halving about to take place. Many of the smaller cap cryptocurrencies are denominated in Bitcoin, so they will naturally follow the corresponding trend. New Developments - Big thanks to MCMpool.eu for facilitating two dedicated EWMCI pools - One for XVC and another for ZET. We encourage all EWMCI miners to embrace this great pool. In addition to providing a wonderful facility for mining, the custometechnical services are truly outstanding. Our allied exchanges are doing a great job as well. Zapple.com is working on adding DGC and ZET to their current coin offering. Fides-ex.com continues to add new EWMCI core prijects, with NVC being the most recent addition - Thank you! Magnum wallet is working great! With the addition of this first-class multi-wallet we are now able to focus on expanding use cases for the "Core 11" EWMCI projects! Till next week! S / EWMCI.info Embrace DIY Crypto Index Investing - Your wallet, your keys, your funds, your decision, your control!
Traders expect BTC to set record highs this year, not ETH
A user poll conducted by Kraken has revealed that most traders are expecting Bitcoin (BTC) to break into new all-time highs before 2021. The poll analyzed the responses of 400 “VIP” crypto traders on Kraken: 41% of respondents described themselves as “investors”, 40% identified as “traders”, and 15% as “institutions” — with the remaining 4% comprising payment processors, crypto exchanges and miners. 84% of respondents manage less than $10 million in capital, while 11% manage between $10 million and $50 million. The remaining 6% is divided evenly between traders managing from $50 million to $100 million and traders mobilizing more than $100 million.
Traders expect BTC to set record highs this year, not ETH
The survey found that the average BTC price target for 2020 is $22,866. However, traders do not expect Ethereum (ETH) to also see new highs — with $810 comprising the average price target for ETH. The overall market sentiment is slightly bullish, with 44% of participants stating that the cryptocurrency markets are in a bull market, while 22% believe we are in a bear trend and 34% stating they are unsure. There was little consensus among traders as to what will accelerate crypto’s growth over the next 12 months, with the top answer comprising “adoption” with 19%. Bitcoin’s upcoming halving came second with 15%, followed by political “conflict” with 11%, “fear of missing out” with 11%, and economic “crisis” with 9%. Respondents came to a greater agreement regarding the major threats to the industry — with 32% of participants agreeing that “regulation” comprises the biggest risk to crypto, followed by “fraud, hacks, scams” with 23%. Fundamental versus technical analysis Fundamental considerations, technical analysis (TA), and fundamental considerations appear to be evenly favored among traders — with 26% describing TA as the primary factor underpinning their trading decisions, 24% looking to the fundamentals, and 23% focusing on overall market sentiment. The state of the global economy and traditional markets influenced the decisions of just under half of respondents, with 55% indicating that mainstream finance has not influenced their decisions regarding crypto in the last six months.
Half of the traders expect an altcoin season during 2020
Over half of participants predict an altcoin season for 2020 — with 54% answering in the affirmative. The survey also asked respondents to list their five favorite altcoins, with ETH, Monero (XMR), Ripple (XRP), Litecoin (LTC) and Tezos (XTZ) topping the list. Nearly half of the respondents indicated that they do not use stablecoins, with 44.4%. Tether (USDT) was by far the most popular stablecoin, with 33.6% of users adopting USDT, followed by USD Coin (USDC) with 8.7% and Dai (DAI) with 8.4%.
Google's search for Bitcoin Coronavirus overtake Bitcoin halving 2020
Halving bitcoin is a short-term trend due to hyped feelings. Google trend data and price reactions suggest that halving could be an overly hyped incident. In addition, the interest in "Bitcoin Coronavirus" has halved given the safe perspective. The five-year graph of Google trends and price trends indicate that the mood and online search peakedduring the halving (July 9, 2016) and fell almost instantly over the next few weeks. In addition, the price had taken a downward turn weeks before halving. Coincidentally, the small increase in the trend before the moon shot rise coincides with the price peak. Therefore, after a certain point, there was an inverse correlation between online sentiments and price The "Google trend" for the keyword "Bitcoin halving" appears to be falling again, indicating that the bull run may be priced in in half. If we look at the top five capitalized altcoins - Ethereum, Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and Bitcoin SV (BSV) - we see that the volume of search traffic largely matches the order of each crypto correlates assets by market cap - with the exception of “Litecoin”, which has more searches than “Bitcoin Cash”. One of the biggest barriers to entry for disruptive technology is the incompetence of the average consumer. On the other hand, simply chasing consumer illiteracy can be a blessing for some really terrible inventions. In the clash of these two ideologies, we have reached the dumb currency singularity. The digital currency has been on the way to dumb singularity for more than a decade, and we finally crossed the event horizon at the end of last year. At the end of 2019, the IRS tacitly published a series of guidelines for virtual currencies, in which common cryptocurrencies such as Bitcoin and Ethereum were combined with Fortnite V-Bucks and Roblox Money. I have just been informed that the legal term for the Roblox currency is "Robux". That seems ... fair. My point, however cumbersome, is that someone who has had some influence with the United States Internal Revenue Service saw his grandchild begging for a Roblox card at the Walgreens cash register and thought, "MY GOD, THE BITCOINS COME FOR THE CHILDREN. " And then, when he expressed his horror, a phalanx of IRS colleagues looked around enough and thought "Yes, that sounds right" that it was lit green for public consumption. This recommendation (on which the IRS claimed that Fortnite and Roblox players should report all purchases of "Bucks", be it "V" or "Ro" -) was monolithic for almost three months before being as quiet as off the stage was escorted it had arrived. In a bout of Streisand, this change attracted more attention than the addition initially, and the IRS made a formal statement. "The IRS recognizes that the language on our side may be of concern to some taxpayers," they said. "We changed the language to avoid confusion. Transactions in virtual currencies as part of a game that does not leave the game environment (virtual currencies that are not convertible) do not require a taxpayer to state this in their tax returns." "
Daily analysis of cryptocurrencies 20191127(Market index 20 — Extreme Fear state)
https://preview.redd.it/68ojh6p7q7141.jpg?width=720&format=pjpg&auto=webp&s=17025d7c73979899568521d71ca11083086e8b20 Travala Partners With Booking.com To Enable Crypto Payments At Worldwide AccommodationsTravala, a blockchain-based hotel booking platform, has partnered with online travel agency giant Booking.com to enable crypto payments at accommodations around the world, according to a press release.In addition to traditional currencies, Travala supports payments with its native utility token, AVA, and 20 other leading digital assets, including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, BNB, Stellar, and Cardano. UPbit Might Be Hacked Transferring Large Amount Of Cryptocurrency To Unknown WalletsAccording to a news report, South Korean cryptocurrency exchange UPbit stopped trading after a cryptocurrency withdrawal of about 60 billion won. UPbit released a notice at around 04:30 UTC on Nov 27, which reads UPbit will temporarily suspend cryptocurrency deposits and withdrawals due to server check.According to relevant persons in crypto, it has not been confirmed whether the exchange has been hacked or has transferred the cryptocurrencies to a cold wallet. Generally speaking, users will be notified in advance when the exchange transfers a large amount of cryptocurrency assets. Communities suspected UPbit was hacked. Currently, regulators such as the Korea Internet & Security Agency (KISA) are investigating whether UPbit has been hacked. Fidelity Starts To Reward Employees in CryptoFidelity Investments, a multinational financial service giant, has started to incentivize its employees in digital currencies.For the pilot initiative, Fidelity’s Center for Applied Technology’s (FCAT), the company’s research and development arm, collaborated with TokenSoft and is using the ERC-1404 token standard. https://preview.redd.it/dhgk5m30q7141.png?width=504&format=png&auto=webp&s=4ef839930a06165a4b5f06513ff001ffd43397e9 This past week, litecoin price struggled to climb above the $50.00 resistance area against the US Dollar. As a result, LTC price extended its decline below the $45.00 support and the 100 hourly simple moving average. Moreover, it traded close to the $42.00 level and formed a new monthly low at $42.15. Later, there was an upside correction, similar to bitcoin, Ethereum, ripple and BCH. Litecoin recovered above the $44.00 and $45.00 resistance levels. Besides, it spiked above the $47.00 level and the hourly simple moving average. However, the upward move was capped by the $47.50 resistance area. More importantly, there is a major bearish trend line forming with resistance near $47.80 on the hourly chart of the LTC/USD pair. If there is an upside break above the $47.80 and $48.50 resistance, the price could continue to rise. Review previous articles:https://firstname.lastname@example.org
Encrypted project calendar（November 27, 2019）
OKB (OKB):27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET):27 November 2019 London Meetup “Join us on 27 November@primalbasehqto hear an exciting progress report as we prepare for the launch of our #mainnet”Nebulas (NAS):27 November 2019 AMA with Founder “Ask your questions on the Nebulas subreddit today & join the live AMA via Telegram on November 27th.”EDC Blockchain (EDC):27 November 2019 Educational Workshop Educational workshop in Puerto Ordaz.
Encrypted project calendar（November 28, 2019）
Horizen (ZEN):28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.IOTA (MIOTA):28 November 2019 London Meetup “Healthcare Professional Interest Network: Is AI the end of Healthcare?” meetup in London from 18:30–21:30 (GMT).Aeternity (AE):28 November 2019 Vienna Workshop “Come learn more about AE’s functional language Sophia and layer-1 oracles and state channels.”Honest (HNST)and 1 other; 28 November 2019 Telegram AMA “Book your date for Honest Mining AMA with@vexanium, November 28th, 2019 on Honest Mining Telegram Group and Vexanium Telegram Group.”Waves (WAVES);28 November 2019 AMA with Sasha Ivanov “This Thursday Nov 28 we’re hosting a live-streamed AMA with Sasha Ivanov to discuss where Waves stands and where we’re heading in 2020.”
Encrypted project calendar（November 29, 2019）
Zenon (ZNN):29 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”Tael (WABI);29 November 2019 Founders AMA “Three days to go until our Founders #AMA, this Friday, hosted by@binance.”
Encrypted project calendar（November 30, 2019）
Ethos (ETHOS):30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX):30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR):30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ):30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM):30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO):30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX):30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Pakcoin (PAK):30 November 2019 Staking Mobile App Android app for staklet is going to be launched on November 30th.
Encrypted project calendar（December 1, 2019）
Auxilium (AUX):01 December 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity.I/O Coin (IOC):01 December 2019 Pos Reward Halving IOC block reward halving is happening on December 1st 2019.ABBC Coin (ABBC)01 December 2019 Migration Requests Start “Migration requests from the #AladdinPro Wallet will be accepted starting on December 1, 2019.”
Encrypted project calendar（December 2, 2019）
Bitcoin (BTC):02 December 2019 CME Futures BTCX19 Bitcoin Futures Contract (BTCX19) settles on December 02, 2019.Waves (WAVES):02 December 2019 Waves Exchange Launch “As of November 18, users will be able to import their accounts and seed phrases, and, on December 2, the new exchange will be launched.”BZLCOIN (BZL):02 December 2019 New Website New website and pre-launch “Patron”.Decentraland (MANA):02 December 2019 Creator Contest “Announcing the Creator Contest, from Dec 2–15. Submit your most creative interactive scenes for a share of $50k USD worth of prizes up.”Bitcoin (BTC);02 December 2019 CME Futures BTCX19 Bitcoin Futures Contract (BTCX19) settles on December 02, 2019.
Encrypted project calendar（December 3, 2019）
Aeternity (AE):03 December 2019 Sofia, Bulgaria Meetup “Come hear@noyyyand@emintroducing the project, followed by talks by Karol Skočik, Juraj Hlista, and Stephan Verbücheln.”Quant (QNT)03 December 2019 QuantX London Conference “QuantX is a half-day event being curated by Quant Network with an audience of 100 industry professionals from across the fintech…”
Encrypted project calendar（December 4, 2019）
Aeternity (AE)04 December 2019 Sofia Hackathon “The next aeternity blockchain hackathon will be held in Sofia, Bulgaria, on December 4th, 2019!”
Encrypted project calendar（December 5, 2019）
***OKB (OKB)：***05 December 2019 OKEx Cryptour Kyiv Ukr “Join us in Kyiv as we journey through Ukraine for our OKEx Cryptour!”Horizen (ZEN)05 December 2019 Weekly Insider Team updates at 4:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（December 6, 2019）
TenX (PAY):06 December 2019 COMIT Hackathon “The #hackathon will be held over the weekend of 6–8 Dec at the TenX HQ in Singapore.”Noah Coin (NOAH)06 December 2019 Japan Roadshow — Sendai “As you know, we are organizing the trip to the cities of Japan in December.”
Encrypted project calendar（December 7, 2019）
Storm (STORM):07 December 2019 Loyalty Program Registration for our fourth and last loyalty program will end on December 7th!MediBloc [ERC20] (MEDX):07 December 2019 Token Swap Deadline “Please submit your swap before 7th of December 23:59(UTC+9).”OKB (OKB);07 December 2019 OKEx Talks 2019 Calabar “Join us on 7 Dec for our first OKExTalks in Calabar, where we will be discussing ‘Digital Assets and Tokenization’.”Dash (DASH);07 December 2019 Open House “.. Dash Core Group will be hosting the Dash Evolution Open House on Dec 7th… in Scottsdale, AZ, from 1pm to 5pm MST.”Noah Coin (NOAH);07 December 2019 Japan Roadshow — Tokyo “As you know, we are organizing the trip to the cities of Japan in December.”
Encrypted project calendar（December 8, 2019）
Noah Coin (NOAH)08 December 2019 Japan Roadshow — Nagoya “As you know, we are organizing the trip to the cities of Japan in December.”
Encrypted project calendar（December 10, 2019）
OKB (OKB)10 December 2019 OKEx Talks — Rotterdam “Join us on 10 Dec to explore “Decentralized Finance” & the benefits & opportunities it presents.”.Newscrypto.io (NWC)10 December 2019 (or earlier) Platform Redesign Updates: Brand new Landing page, New Trading Tools and Updated School Program.IOTA (MIOTA)10 December 2019 Karlsruhe Meetup “Come learn about the IOTA technology! Dec 10 at 6PM CEST.”OKB (OKB)10 December 2019 OKEx Talks — Rotterdam “Join us on 10 Dec to explore “Decentralized Finance” & the benefits & opportunities it presents.”.Newscrypto.io (NWC)10 December 2019 (or earlier) Platform Redesign Updates: Brand new Landing page, New Trading Tools and Updated School Program.
Encrypted project calendar（December 11, 2019）
Waves (WAVES)11 December 2019 Annual Meetup ‘See you in Berlin on December 11, 2019!”Cindicator (CND)11 December 2019 Event for CND Ecosystem “New horizons of the CND ecosystem,” with “More details to be released” at 14:00 UTC.IOTA (MIOTA)11 December 2019 Berlin Meetup “Join us for the “2019 recap & 2020 outlook” MeetUp, organized by IOTA &@iotashop.”Cosmos (ATOM)11 December 2019 Cosmos Hub 3 Chain “Cosmonauts, buckle up & get ready for the hub upgrade to the Cosmos Hub 3 chain. A new proposed date is set for Dec 11 at…”
Japanese Giant SBI Makes Millions With Crypto, Praises Ripple
Japanese financial giant SBI Holdings has revealed that its cryptocurrency ventures are making a profit – and its influential CEO Yoshitaka Kitao has played down the potential of Bitcoin (BTC) and other altcoins, while singing the virtues of Ripple (XRP). According to mid-financial year figures released by the group and a report from Nikkei, Kitao revealed that both SBI VC Trade – the group’s cryptocurrency exchange arm – and its SBI Crypto investment and mining division are both making money for the company. https://preview.redd.it/ayj1mgu173x31.jpg?width=312&format=pjpg&auto=webp&s=44585f243f35a2658dac71f11d63fd18a0681a17 The exchange business has posted pre-tax profits of USD 30 million, with SBI Crypto posting pre-tax profits of USD 2.7 million – despite a 17% decrease in the group’s overall financial performance. SBI stated that it has begun mining at two unnamed locations recently, and will begin selling mining chipsets from 2020. Kitao also said that SBI was keen on launching cryptocurrency fund products – but would await rulings from regulators, who are currently debating the legality or otherwise of allowing funds. The outspoken CEO, who is set to shore up his company’s banking empire with a possible USD 1 billion investment in 104 regional banks, per the Japan Times, also had his say on the future of a number of prominent cryptocurrencies. He claimed that Bitcoin mining costs would increase “steadily” with the token’s next mining reward halving expected to take place in May next year, and again questioned the future of Bitcoin Cash, referencing the recent security problems with this network. Kitao was keen to praise Ripple, however, stating that it was the most “practical and usable” token around. SBI and Ripple have a deep business partnership, and the CEO is a member of the latter company’s board. Elsewhere, SBI blockchain-powered money transfer platform subsidiary MoneyTap has announced that it has signed a partnership deal with the Japanese mobile e-pay platform PayPay – and will make use of Ripple DLT technology. PayPay claims to have 10 million active users, and says that 1 million merchants in Japan accept PayPay payment, which allows customers to pay in stores using QR codes. SBI states that PayPay will begin using MoneyTap’s xCurrent platform, which is powered by Ripple, to provide faster transactions than conventional options such as SWIFT.
Let me tell you a tale about Ecuador, that abused its currency so much the people completely rejected it and adopted a new currency. States can mismanage their currency so badly that the people adopt a completely different currency.
Have you heard the tale of Darth Ecuador the Wise... err, let me tell you about the awesome people of Ecuador, and the tragedy of the Ecuadorian Sucre. After years of central-bank mismanagement during the 20th century leading up to 80% inflation in 2000, the Ecuadorian government did perhaps the smartest thing it could possible do at that time, it gave up and adopted the US dollar as its official currency. Here's the tale in long form if you are interested: https://www.wsws.org/en/articles/2000/01/ecua-j13.html A record of their currency changes: https://en.wikipedia.org/wiki/Currency_of_Ecuador#2000_Dollarization http://www.coha.org/examining-the-effects-of-dollarization-on-ecuado And the tale told briefly by someone from Ecuador: https://www.life-in-ecuador.com/ecuador-currency.html Since then, the US dollar has been the official currency of Ecuador. And just like that, no more crazy inflation disturbing the economy and hurting the poor most of all. However, the US government still inflates the dollar, but it does so at a fairly even and controlled rate compared to many places in the world. So moving to the dollar was still a positive improvement for Ecuador's people. The US shoots for a 2% inflation target. But since the natural rate would be about 3% deflation, in actuality the US is inflating somewhere around 5% a year in order to hit that 2% target. You can't make a political issue over such small amounts of inflation because people simply don't understand it, not until it reaches hyperinflation levels such as Ecuador and other places experienced, and such as Venezuela is going through now, and places like Argentina have suffered in the past. Bitcoin cash too is short-term inflationary but unlike fiat currencies such as the dollar, BCH is long-term deflationary and has a hard cap on the number that can ever exist: 21 million BCH. BCH is currently inflating at a rate of about 4%, so not much better than the US dollar, but that will change soon. Next summer that rate will halve yet again during the 2020 Halvening event, and hit 2%, then four years later it will hit 1%, and only go down from there every four years. This will begin to significantly outperform all world currencies when it comes to inflation schedule. Since BTC doesn't want to be a payments system and has conceded that position to BCH and others, BTC won't get used. Nor likely will BTC+Lightning get used as it is a usability nightmare unless you want to trust a 3rd party to do everything for you, not to mention the high cost of opening Lightning channels in both time and money. Ethereum, the current #2, isn't designed to be a currency at all, and thus won't likely be used. Nor Ripple, which frankly isn't even a cryptocurrency and doesn't deserve to even be considered on the rankings. We will also see the price of BCH grow in response to this new scarcity, necessarily. Every halvening thus far has resulted in tremendous price growth afterwards. But I just wanted to highlight the experience of Ecuador, to show that states can mismanage their currency so badly that the people accept and adopt a completely different currency. It can happen, it has happened before, and it can happen again. And when it happens again, cryptocurrency will be the next natural currency to move to rather than the dollar.
Texas Bitcoin Mining Startup Gets $50 Million From Peter Thiel to Steal China’s Crypto Crown
When it comes to producing Bitcoin, China is the pre-eminent power in the world. The People’s Republic boasts the largest mining companies, and dominates the manufacture of chips and other equipment used to mine Bitcoin. A U.S. startup wants to change all that with a bold plan to make Texas the global hub of Bitcoin mining. On Tuesday, San Francisco-based Layer1 announced it has raised $50 million from billionaire Peter Thiel and others to move forward with its plan, which includes running its own power sub-station and purchasing solar and wind energy produced on the plains of West Texas. According to co-founder Alex Liegl, Layer1’s facility will consist of dozens of acres that lie 150 miles west of Midland, Texas—”literally in the middle of nowhere”—and will rely on a proprietary new technology for cooling the chips used to mine Bitcoin. Bitcoin mining, which consumes large amounts of electricity, typically takes place in colder areas where it is easier to prevent equipment from overheating. Layer1, however, believes its cooling technology will make Texas a viable location despite the heat. The state also offers additional benefits in the form of light regulation and cheap power. One Bitcoin is currently worth around $8,300—well off its all time of nearly $20,000 in late 2017 but still much higher than 2016 when it traded as low as $300. Under Bitcoin’s mining system, miners compete to win an award distributed every ten minutes or so. Currently, the reward is 12.5 Bitcoins—a figure that will halve to 6.25 next May. Liegl says Layer1 aspires to be the biggest Bitcoin miner in the world by controlling all aspects of the process—from chip manufacturing to electricity production to cooling. In the longer term, the company plans to use its mining facilities as a base layer for a larger cryptocurrency enterprise that will include financial services. Layer1 launched in late 2018, with Liegl then describing it as an “activist fund for cryptocurrencies” that would invest in protocols, including a privacy focused project called Grin. At the time, the startup did not disclose mining aspirations, and raised a modest $2.1 million from Thiel, Digital Currency Group and the late investor Jeffrey Tarrant. “From an ideological perspective, for Bitcoin to grow into its multi-trillion potential, it needs a U.S. company to lead,” says Liegl. “This ideology resonates with Peter [Thiel] and our other investors.” Despite Layer1’s large ambitions, its backers—which also include Shasta Ventures and undisclosed wealthy cryptocurrency owners—are keeping a decidedly low-profile for the new investment, which gives Layer1 a valuation of $200 million. Thiel and other investors declined to be interviewed for this story. Crypto mining in recent years has been a ferociously competitive business, but Layer 1 believes changes in the industry have provided an opening to wrest market power from China.
A new Bitcoin mining strategy
In the early years of Bitcoin, from 2009 to roughly 2013, it was viable to mine the cryptocurrency by using a home laptop, like Liegl did when he got his start mining Bitcoin in his Stanford University dorm room. The mining process involves solving random math problems that determine who will build the next block on Bitcoin’s blockchain—a tamper-proof ledger of transactions. The first to solve the math problem also receives a reward in the form of Bitcoins. As the cryptocurrency caught on and prices soared, however, companies began designing special computers optimized to mine Bitcoin. This in turn led miners to join crypto mining pools—combining their computing power in order to share the proceeds whenever a member receives a Bitcoin reward. China has dominated the Bitcoin mining industry—estimates say it accounts for around 60% of production—in large part because its government has provided miners with cheap access to electricity. The leading company has been Beijing-based Bitmain, which runs two massive mining pools and is also the leading seller of the specialized chips now needed to mine Bitcoin. But Bitmain has stumbled in recent months. While the company’s 33-year-old CEO boasted in mid-2018 of grand plans to use artificial intelligence to further dominate the mining world, Bitmain has since suffered large losses and had to lay off half of its staff of 3,000. Bitmain’s troubles weren’t the only factor revealing an opening in Bitcoin mining for Layer1. Liegl says the dynamic of mining has shifted. He thinks buying the latest custom chips previously gave miners an edge, but now the tech has become commoditized. “From 2012-2019, it was mining 1.0 and a function of (capital expenditure) and who can get the newest chip first,” Liegl says. “Now, we’re in 2.0, where (operating expenses) matter most.” Under this thesis, Layer1 believes its plans to develop “full-stack” operations in West Texas will let it capture market share—in part because it won’t be vulnerable to third party suppliers raising prices when the price of Bitcoin goes up.
An industry in flux
In moving into West Texas, Layer1 may have to tread cautiously given that the region has been burned by the cryptocurrency industry in the past. In July, _Wired_magazine ran a feature article describing how Bitmain promised the town of Rockland, Texas hundreds of good jobs operating mining pools, but then abruptly pulled out, despite a concerted good-will campaign by local officials. Liegl, who says his colleagues at Layer1 include veterans of Apple, Google, and Goldman Sachs, plans to proceed much differently. He says the company will be respectful of government officials, and local sensibilities. If Layer1 can successfully become a major force in the mining world, the company’s presence could shake up the geo-politics of Bitcoin. In recent years, there have been fears that China’s dominance could lead miners in that country to collude in order to manipulate records on the blockchain that records all Bitcoin transactions. If American companies can make major inroads into mining, Liegl says, Bitcoin will become more decentralized—a key tenet for the cryptocurrency’s supporters. Layer1 isn’t the only North American company to plan a big move into crypto mining. Canada-based Blockstream, a consultancy with ties to many Bitcoin insiders, revealed it is building massive data centers for Bitcoin mining in the province of Quebec and in Adel, Georgia. “There’s definitely an opportunity to take away market share from some of the other firms,” says Samson Mow, Blockstream’s chief strategy officer. “(Specialized chips) have started to reach their limits in terms of efficiency, so the playing field will continue to level off.”
Back in 2011 before I started munching red pills errday, I was looking to loot up. I thought google was the perfect example of clever entrepreneurship and despite the fact I knew jack shit about it, I subbed to programming thinking that most likely something big was going to come out of the computer realm. A couple of months later a little article popped into my feed from there " Google develops new bitcoin wallet ". I had a read of the comments and it was noted that it wasn't google developing the wallet but rather an employee as part of their extra vocational activities. Someone in the comment section mentioned the silk road and I had a little look around trying to find out more about it. I downloaded Tor and found the way to access it and after looking around thought that I'd better give it a crack. I got my first bitcoin via paypal for <$1 but then paypal cracked down on that channel and because there were no Australian exchanges I had to go some roundabout way of getting myself second life credits and then using an in game exchange for bitcoin. I bought a few more and had a little dabble on SR. It worked and my little sample orders came through. I was super impressed and set about getting more of this magic internet money that had enabled such a cool service. About the same time, it started going through it's first bubble getting as high as $30. It crashed down to $20, then $15, then $10 and at each of those levels I threw a few grand at it that I had sitting in an account from when my granddad died. I was keen to get more but then it started heading lower and I thought "ah I don't actually know shit about this. I think it's a good idea, but this is my first time investing and I could well just end up going out the back door." They hit $2 a coin but I had no need to sell and just sat on them for a couple of years. Towards the end of 2012, as the first halving of the block reward was approaching, the price started to move again. It got up to around $15 again where I was even, but again I had no need to sell and just sat on them. By April or so they'd gone mental and had reached their then all time high of $270 odd. At the peak they were going up so fast that I went to bed one night and woke up with my stack worth $5k more. I cashed out enough to buy a few oz of gold for my original $4k investment but held the rest. Throughout this time I'd been consuming all I could about this cool new tech and the associated avenues that had opened up in decentralized/disruptive technologies. I was reading every post in rad_decentralizationpolycentric_law, seasteading, open source ecology and whatever I could digest to apply to my vision of what I wanted to do with this loot. A couple of months later I went off on an adventure overseas to go surfing in Mex, some summer festivals and do a snow season in Canada. I was reluctant to spend my coins because they'd now gone down to around $70 or $80 bucks so I'd been going through my savings. After Burning Man I was out of cash. I was supposed to go back to Mexico to hit up the south with some friends but I decided instead to go up to Northern Cali to try find some work on the farms in a town we'd passed through. I spent my last $200 on a crappy hotel and getting pissed at the bar looking for leads for work. The next day we found a guy who'd give us a start and we headed up to the hills to work for a few months. We had worked for 2 weeks when there was a bit of a hiatus for a few days (which coincided with symbiosis festival), so we went down there to party for a few days. On the weed farms we'd been hanging with lots of deadhead kids and they'd all been sharing stories of eating heaps of acid and other drugs and I thought it was time I give a big dose a try. I managed to get a hold of some at the festival, tore off 5 tabs and shoved em on my tongue. The guys face kinda dropped and he's like "dude, they're really strong". I had just smoked a masssssive joint and was about halfway through a bottle of captain morgans, so I just kinded "Meh'd" him and laughed. Needless to say, they were indeed quite strong and 6 hrs later I've got some medic knocking on the porta potty asking me if I'm alright. Completely naked, filthy, sticks and leaves and shit all through my beard and hair. I'm like "yeah, i'm ok but do you have my clothes?" She didn't and didn't know where they were but I managed to get a blanket off her and walked outside into the party. At that exact moment my friends happened to be walking past first aid and I heard one of their voices through the darkness. I yelled out to him and the others and they came over and took me with them. I went back to camp a bit bummed out that i'd gone too hard and ruined the party, but then I could hear the music pumping and actually felt pretty good so I went back out to look for my clothes and shit. I couldn't find them until the next day my jeans turned up in lost and found with my wallet in them. I rolled out of that party that next evening, pretty rattled, no shoes and totally broke again. Not long after I got back to the farms I heard of the silk road bust and noticed bitcoin had taken another hit. However, in the following days, perhaps due to the shutting down of an unsavoury aspect of the bitcoin ecosystem, the coins went on a surge. By the time I was up in Canada for my working holiday snow season they'd gone as high as $1250 a coin. I cashed a few out to sort myself out for the season. Didn't bother finding a job, bought a pound of weed and just boarded every day. Through this time, I'd spread a bunch of my stack over some shares denominated in bitcoin and some of those were generating me nice dividends. One in particular which was in a company making mining hardware was doing really well and I put a lot of my coins in there. They took a hit after restructuring their business model to redirect dividends into R&D, which made the price plummet. I doubled down on them but eventually they ended up going out the back door. I lost another 10btc or so to a scam run out of Cyprus that was supposed to be a btc-euro gateway company, but he bailed once the btc price dropped. A few others crashed along the way and then in the mean time I'd spent most of my liquid coins on going back to Oz to visit my girlfriend, returning to canada, then returning back to Oz once that relationship was on the rocks. I got back to Oz the second time, with only a couple of coins left, they'd dropped down to $400 or so, things didn't work out with her and I just fell into a rut after being on such a high. I talked mum into selling me her old car for a few bitcoin and moved to Melbourne to try something new. Around this time projects like ethereum, ripple, dash, monero were all starting up and since I'd been burned on a few scams and failures, I doubted my ability to discern what was going on and out of fear didn't get involved with any of them. During the run up of the coins from $15-$1250 I'd been digging into researching all about decentralized/disruptive technologies and had been developing ideas for radical community projects utilizing the benefits of open source technologies and distributed ledgers to greatly increase efficiency, as well as transparency and accountability. When I moved to Melbourne I went to a few bitcoin meetups but just found that they were full of traders and business folk but not many were into the radical side of things. I started knocking around with a few crew from the party scene and began brainstorming some ideas for festival/community development through crypto. Though at the peak the projects that I'd been ideating had seemed almost tangible, when back in the real world with no money, they became much further away. I couldn't go back to the old way of thinking in the traditional paradigm, but without a bankroll I didn't really know where to start. I still wanted those things, but had no capital and no network. Through my research into crypto I'd discovered the scheme that is the Federal Reserve and the corruption of fiat currency and through that found myself being drawn to conspiracy and becoming addicted to "figuring it all out". I got a bit of casual work, but I just couldn't bring myself to engage with the system on anything other than my terms. I still dreamed of community development but all my time was spent in the web of lies and paranoia that is the conspiracy realm. From my solid acid trip I'd got enough of a glimpse of the spiritual nature of things that I still manged to hold the light through my foray into the pit, but I became a bit consumed by it all. I had another couple of trips that showed me a look at an interdimensional world but in glimpsing them, I also took on a lot of paranoia that I had to work through. I started seeing bitcoin as the system for the NWO to implement their cashless economy and mark everyone for eternal damnation. I kind of stayed in this world for nearly a year or so, until I stocked up on DMT from a guy at a festival and got stuck into that as a bit of a practice. What it told me was that all this world is my creation. The abundance I experience comes from a state of mind and similarly the poverty I experience comes from the opposite state of mind. It told me the most important thing I could be doing, is working to cultivate a mentality of abundance. I began cultivating that idea and whenever I was consciously aware of a choice between abundance and scarcity I would endeavour to choose abundance. A few months later, I ended up falling in love, getting married, meeting a friend who has a project called "abundance" (where he is trying to cultivate the shift in perception on a mass scale), had a kid, took on a massive build/renovation to a warehouse/ started a business. Recently the business has gotten to a point where I actually have a couple of spare bucks again and so I decided to enter back into the world of cryptocurrency to see where it's at. I got 2 bitcoin and thought I'd spread them around on a few of the alt coins to see how they go. I'm still distrustful of the story behind bitcoins inception and it's role in the overall scheme of things, but I have regained faith in my ability to discern what's going on. In the bundle of cryptos there probably is one that will be the vehicle for the beast to get their subjects, but that's not going to stop me from riding the train to abundance town in the mean time. I bought a bitcoin and spread it around on a few of the alt coins that I thought looked interesting eth, etc, ltc, pivx and ripple. I think Ripple is set to go bananas. They're currently working with about 150 banks to use ripple to settle international transfers. Apparently they're also in negotiation with the reserve bank of Japan to utilize it. If you're aware that the US economy has been set up to tank, and there's going to be a restructuring of the power to an eastern led financial system, ripple seems like the prime candidate the facilitate that. When they roll out new SDR backed BRICS currency, they're not going to be able to just implement a new standard by coercsion. It's going to be by utilizing existing services that are already being used by a number of people. Ripple is a Silicon Valley start up, and if you know anything about the MIC involvement in SV, you'd know many of the companies from there are simply fronts to enable the implementation of the technology that TPTB are ready to release to us. In the 2-3 weeks that I've had my ripples it's already gone up 100% but I think it could possibly be at $1 (from $0.07 now) within a year if they succeed in taking down SWIFT. I was talking to my friend with the abundance project about crpyto and how we're going to liberate ourselves from fiat slavery and he saw a number plate on a car in front of him that read XTC 999. I thought I remembered a coin that had the trading abbreviation of XTC so I had a look around on it. There was in fact a coin that had that but when I was reading the thread about it on bitcointalk it appeared that the project had stalled. In the same thread someone mentioned that although it had stalled, if you like the look of the project, you should take a look at IOTA. I looked it up and what do ya know, it's a super innovative new protocol designed to for intermachine operability in the internet of things. It doesn't run on the blockchain, but rather has a new type of ledger called the tangle which does asynchronous settlement which their developers allow it to scale infinitely as it increases in efficiency as it records more and more transactions. Because the individual making the transaction does the POW at the time of the transaction, it also allows IOTA to run without fees because spamming the network actually assists it by confirming more and more transactions. I did some digging on it and because it's not listed on any exchanges it's a bit harder to come by, but I was super keen to get some so I threw a bitcoin on it over on their trading channel on #slack. In the two weeks that I've had my IOTA it's already increased by another 66% as well. I don't really know what the point of this post is, but I just wanted to share with you all because I love you and I think that we're approaching a point where the traditional financial system is about the be dismantled and the new one is rolling out. The new one isn't some currency that a bunch of coders in a Russian office have been working on. The Russian coders are working for ethereum, the MIC is working through Ripple in Silicon Valley. Having projects developed in an office is old school. It's way more efficient for TPTB to release some technology to the masses and have them develop their own chains that will enslave them. These companies now are the companies that will service the NWO's cashless economy. I would encourage you to get in and get some while the going it good and then put those earnings towards setting yourself up so that when the day comes that "none shall trade without the mark of the beast", you're living off grid in your open source gifting economy and you don't give a fuck.
[Disclaimer : I am *not* from the future. All the info I summarize in this post can be currently found elsewhere on the internet as of today, in 2018.] Hello everyone ! We're not here in the cryptospace to make big bucks but only to contribute to a better future. ...well no it's a lie, we want to make money too and it's fine. Tired of this bear market ? Want to hear positive stuff ? (I mean positive for your wallet, not just the fact crypto will help people in Peru or whatever) Then you've come to the right post, I'll share my perception of the future based on potential elements that may affect the price ; elements you may have forgotten or simply haven't thought of until now.
About the whole Crypto market (think price of BTC, essentially) :
The popularity of the crypto market grows.
Every day, new people hear about it. May it be journalists thinking it would be a good topic, enterprises considering using it, investors considering placing their money in it, or just the average Joe going FOMO with his 50 bucks. Young people are much more interested in crypto than their elders, and fortunately they're the ones who will populate the world we're heading to. As there is a tight correllation between interest people have for it, and the price moves, it's no secret time plays with us. Of course it fluctuates a lot, but in the long run there are just more and more people interested in crypto. You may have noticed (unless you live in a cave, which is a respectable choice) that some people may be selling, these days. That's not a problem. The HODL team gets bigger, the price lows get higher, and the shaky hands guys will eventually come back (when market manipulators want them to).
It gets easier to buy crypto.
New exchanges appear. Existing exchanges add new trading pairs, and sometimes become available in more countries. More and more accounts are opened in exchanges, which facilitates the market liquidity. Remember how some exchanges were cluttered and laggy, if not unavailable, during the last bubble ? Their capacity keeps increasing too. The easiest it gets to come in, the more people we will have. And we still have a huuuuuuge margin of improvement.
We get closer to the next bubble.
No matter if it's actually supposed to happen or not; since analysts think so, they will make it happen. "Flags", "patterns", "indicators", "triangles" and all of this stuff act like traditions : "hey guys the chart says it'll go up so let's all buy" => then it goes up (basically because they all buy. Wow impressive science you got there). IMHO it's stupid (and gets overridden by any actual news), but hey they do what they want so let's play along with it. Having predictable people around can't harm, and these guys tell us [the magic chart tells them] that it will go up soon because we're coming to the end of a post-bubble correction.
We get closer to the day countries like China come back in the game.
Regulators took off a big part of the market from us; the good news is : the situation can't be worse than such total bans. It can only go the other way now ! As their departure halved the market, I do expect the reverse situation to triple the prices. I'm sure most of you forgot this one. One morning you'll open your favourite browser and see the Chinese crypto fans army, just like Gandalf, coming back with reinforcements when you expect them the least. And they'll slay all the bearish orcs in no time.
Regulators progressively open their minds and catch up with the technology.
They are the slowest actors of the system, that's for sure, but most of the fear they would be absolutely against crypto seems unfounded. Korea seems OK as long it's SAFU, Europe (like the Macron dude) seems to think crypto is good, and look how cool and reasonable the SEC commissioner Hester "crypto mom" Peirce is. Tons of investors were scared away by unknown taxes on profits; the situation can only get clearer. The same goes for prohibitively high taxes : in France for instance, it went down from ~65% to ~40% a few months ago.
We get closer to the arrival of big funds.
Yeah, like the ETF thing. It's slightly delayed (as everyone could predict), what a big deal !
The actual usability of some cryptos increases.
Some companies implement crypto payment for fun (who said Starbucks ?), while some countries (who said Venezuela and Iran ?) make use of crypto because they actually need it. More adoption = more demand, thus a higher price. ---------------------------------------------------------------------------------------------------------------------------------------- All the info above that line is what I knew before investing in crypto. Looked solidly bullish to me. So at this point I invested in BTC (safe/lazy choice), but you may note everything there applies to all cryptos. 2) Here come extra things that apply to altcoins :
Bitcoin's dominance may not be to last.
While the market cap may not be the best indicator of a crypto's value, it still gives an estimation of its popularity. Popularity is an actual asset not to ignore when adoption is the main goal. But another important factor is the underlying technology of a crypto, of course. Different technologies means different coins can serve different purposes, too. ETH and its smart contracts, or Ripple's usage of XRP to move money across banks are very good examples. Will BTC succeed as "Internet's native currency" ? Maybe. Will it ever be used for, let's say, real estate contracts ? Nope. But ETH could do that one day. My point is : top-tier altcoins have both a decent current market cap (popularity / adoption), and potentially life-changing technologies. So their value is real, they can coexist and it's not likely they'll disappear like that (unlike sh*tcoins who either get wiped out by themselves or during bear markets, when get-rich-quick-schemes get invalidated).
Bitcoin's current price already includes positive things that are yet to come for other cryptos.
The best example is availability in Coinbase. Everything that's not already in Coinbase could suddenly see its price going up the day it happen (Who said early 2018 rumors about XRP ?).
Demand (=> price) of utility tokens can mechanically increase.
No need for people to even know and like your coin if it's used in a product they like and they throw money in. While it's not as impressive as price fluctuations induced by speculation (think BBC telling the average Joe to FOMO), every single coin sold to someone actually using it contributes driving the price up. Who said CryptoKitties ? ---------------------------------------------------------------------------------------------------------------------------------------- After some "DYOR", I realized the above things and moved to ETH and XRP. But they apply to EOS too ! 3) Now, time for positive EOS elements :
EOS currently sits at roughly 1/3 of its ATH. But... EOS's ATH happened while the whole crypto market was at 1/2 of its ATH !
Put another way, the EOS hype wasn't as good during the last bubble as it is now. One can assume it would go x6 if BTC hits 20K again.
The EOS taxation model makes the situation go better as time passes.
Since all the cost (account creation) is paid at the very beginning, every time a new account is created the users base strengthens. It's like paying the yearly Amazon Prime fee to get free shipping, then you're incentived to keep using it. And things will get real when dApps will start giving away free accounts to their users, it will make the use of EOS litterally free for them ! Again, more users = more EOS demand = higher price.
B1's $1 Billion dApps funding.
Unlike tons of other cryptos, B1's funding has already been converted to fiat. You could notice a few ETH maximalists are mad because the $4B they had temporary benefited from have been taken back. This means no big cash-out to come for EOS (who said Satoshi's BTC, or Ripple's 50% ownership of the XRP supply ?). By the way, such cash-out from creators are another reason sh*tcoins die in bear markets, when scammy dev teams run away with the fiat. Also, unlike tons of others cryptos, a decent par of B1's ICO is dedicated to dApps funding. 1 Billion is huge and there is virtually no chance it doesn't outcome with great dApps. It takes months to develop them, but they'll eventually come and add much value to the EOS blockchain.
Hardware wallet integration.
The same way being included in the Coinbase offer helps adoption/price, hardware wallets are a real thing. Not to mention people who are afraid to expose a lot of money in something else than a hardware wallet have, by definition, a lot of money.
You don't really care about airdrops, think most of them have little value, and just care about the EOS price ? Even in that case I've still got good news for you. Tons of people sell airdropped tokens as soon they can. And guess what they do with the money ? Yes, they get more EOS. Airdrops are litterally a way to continuously give money to people interested in buying EOS. So they mechanically drive the price up ! ---------------------------------------------------------------------------------------------------------------------------------------- At this point, I decided to all-in EOS. But it's not over ! More bullish things to consider came lately. 4) Good-looking perspectives for the price of EOS :
The current price takes into account the (probably legit) FUD around the Constitution article which takes back funds from inactive accounts after 3 years. I have no idea why we have such an article in the first place, and it scares away HODLers (because of the coma scenario). As I understand it, this article will go. Less FUD, more HODLers, better price.
Side chains (horizontal scaling).
We all know we worse point about EOS is the cost of RAM. The best fix Dan's thinks of lies in the implementation of side chains. As each side chain would come with it's own supply, it will make it harder for speculators to try buying all of the RAM, and thus decrease its price. Lower RAM cost = cheaper EOS usage = more adoption = more demand = higher price. As each side chain would also come with it's own RAM market, EOS holders will potentially get more benefit from RAM speculation fees. And last but not least, horizontal scaling means a better EOS performance (like TPS), which is very good for its popularity.
Dan's last proposal. This one's a true bullish goldmine. Where to start ?
Stakers get paid, while it doesn't increase the price of EOS it increases the number of EOS you own so you make money (and it scales in a multiplicative manner with price increase !)
People are incentivized to vote, it improves the stability and reliability of the delegated PoS system and thus increases EOS's popularity.
The income currently in the form of locked coins (prone to hacking like the recent Bancor mess) will no longer exist, which is a good thing.
The said income will increase thank to the addition of name auction fees and CPU/Bandwidth market.
Instead of creating a deflationary coin, it will be inflationary (but in a lower extent than the rewards). Why do I mention this ? Because it will increase the market cap ! Remember, Market Cap = Nb of coins x Price. More coins, more market cap, but unlike other coins you don't even get poorer in the process. This is genius. Market cap is a bad value estimator IMO, but again we have to play along with the crypto market rules. More market cap = more popularity, and we'll get a mechanical continuous market cap increase. Your move, Bitcoin ? :)
This reward system will increase the demand, while the surge in staking will decrease the available supply. You know where I'm going with this.
---------------------------------------------------------------------------------------------------------------------------------------- That's all I guess. I could add a few more things but this post is long enough already. Again, as I'm not from the future (I swear), I can't promise the price of EOS will go x100 within a couple years, although it wouldn't surprise me. Honestly, do you still mind the current bear market... tied to no negative news at all ?I see it as both an opportunity to buy, and a great way to cleanse the crypto space from bad projects.
03-26 12:51 - 'Not going to lie... this feels a little like ~mid/late 2013 (for those who were around). / Who know though... Bitcoin always defies expectations. I sense though that the recent price stability, particularly in face of att...' by /u/SheHadMANHands removed from /r/Bitcoin within 5-10min
''' Not going to lie... this feels a little like ~mid/late 2013 (for those who were around). Who know though... Bitcoin always defies expectations. I sense though that the recent price stability, particularly in face of attacks, both on the network and "perception" of Bitcoin (media going crazy about "death of Bitcoin" again), is a sign that we're at the beginning of another big, big move - that plays out over longer time periods and, like a honey badger, doesn't give a [email protected] about short term influences. The deepest of pockets and forces I suspect will move this next wave. Day traders will be ripples in the ocean. This massive consolidating triangle would have collapsed already, if it was going to. We went through the FUD, the risk of Classic contentious hard fork (all but dead now), the "fee event". Now we could down to the great "halving". ''' Context Link Go1dfish undelete link unreddit undelete link Author: SheHadMANHands
The last halving in 2016 led to major increases in Bitcoin’s price, but not everyone is sure that the 2020 halving will inspire similar market adjustments. When the first halving took place in ... Furthermore, the rally leading up to the halving was in both cases followed by a brutal parabolic move just a few weeks after the halving. With the next bitcoin halving expected to happen in May ... Bitcoin halving is considered to be a potential catalyst for an increasing Bitcoin price.However, this year’s halving event cannot be compared to past halvings as the market has matured more significantly according to some experts such as Binance founder Changpeng Zhao. What is certain is that the reward per block mined will be reduced from 12.5 to 6.25 Bitcoin, which means that Bitcoin ... One of Bitcoin's most anticipated events, the 2020 block reward halving, just transpired. Here is what analysts think comes next for the cryptocurrency. Next Bitcoin Halving Predicted To Significantly Explode Asset’s Value. The Bitcoin halving is something that happens after every 210,000 blocks. This is approximately a four-year interval and sees the block reward Bitcoin miners receive for every block, cut by exactly half.
Bitcoin Halving 2020: History & Price Prediction (A Simple ...
Ripple XRP News: Latest News Ripple XRP News Today ----- Follow Me On Twitter: https://twitter.com/XRPNews_ ----- All The Latest Ripple XRP... When everyone is doing the same thing, thinking the same thing and expecting the same thing, it is usually a RED HOT WARNING SIGN. So the question is asked,... Bitcoin Halving Now! $100,000 Price Prediction Next? Cryptocurrency News BTC Trading Analysis 2020! Cryptocurrency News BTC Trading Analysis 2020! 👌 SUBSCRIBE: https://goo.gl/f1mwE1 Earnings Binance [07.31.20] - Ethereum 2020 rallies as Bitcoin consolidates Віnаnсе Nеws 22,973 watching Live now Trump Executed A Coup Against Rothschild Banking System & Ripple/XRP Will ... The Bitcoin halving is around 250 days away.....what can we expect in terms of price movement in advance of the halving and after the halving? Let's explore! sources https://seekingalpha.com ...