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The next XVG? Microcap 100x potential actually supported by fundamentals!
What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why: Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network. The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership. The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI. ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil. Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets. 100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”. Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy. I am super bullish on this coin for the following reasons:
Only $400k market cap
Supply started at zero, so there are no VC’s and team to dump on you into the pumps - all coins are mined into existence, just like Bitcoin.
It just had its first halving, reducing emission from 16 to 8 per block. Between now and 2028 there are FOUR (!) more halvings, from 4 to 2 to 1 and then finally 0.15 (I guess that would be an 85%-ing :p) and at this point the supply is the same as BTC and stays in sync forever until the last coin is mined in 2140. This simple supply curve is already accepted by the market as a winner, so why mess with success? (I)
Meets Andreas Antonopolous’ 5 pillars of open blockchains test: Public, Open, Borderless, Neutral, and Censorship Resistant. (How many coins can say this?)
Unlike Bitcoin, Epic created a multi-algorithm approach that enables people to mine on ordinary computers - 60% for CPU on RandomX, 38% for GPU on ProgPow, and 2% for ASIC’s on Cuckoo31+. The algorithms don’t compete with one another. This is essential for leveling the playing field and preventing massive farms from dominating. These percentages can change over time and new algorithms can be easily dropped in. You can mine today using an old laptop and in 5 years you will still be able to. Incidentally, there is nothing standing in the way of adding mobile phone-based mining, which ETN showed there’s a huge demand for.
Based off the excellent Grin codebase, which means they continue to pull in ongoing core code enhancements and focus on ease of use and market penetration instead. (Smart!)
Litecoin’s Charlie Lee is out there daily talking about their move to Mimblewimble, which provides free publicity. What people don’t realize is that you can’t just bolt on Mimblewimble to a legacy blockchain, that’s like putting a Ferrari engine into a school bus - it’s still a school bus, not a race car! LTC is doing it as an optional soft fork via “extension blocks” which will not be supported by all wallets and exchanges. Also, anyone using “optional” privacy features is declaring themselves to be suspicious, which kind of defeats the point for people who care about privacy.
The community is friendly and welcoming to new people coming in, with lots of helpful (independently created) tutorials and guides. (F)
It’s already a global phenomenon, with the whitepaper in 20+ languages (G) and (not bot-infested) active local-language communities on not only Telegram but also Wechat, LINE, QQ and other messenger platforms.
It’s only on two random little exchanges currently, Citex and Vitex. Vitex is actually a pretty good DEX with no KYC and a great mobile wallet.
They are very creative - since centralized exchanges want huge money to list, they created a non-inflationary ERC20 tracker token that’s exchangeable 1:1 for coins so that Uniswap trading is possible (H)
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to. This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
Bitcoin mining may be a senseless waste of energy. As bitcoin hits mainstream media, the subject of bitcoin mining bubble regarding to pop.For ten years, the media has enjoyed painting bitcoin as a bubble concerning to pop. They’ve gleefully pronounced the bubble popped and bitcoin dead … over 350 times. However the reality regarding bitcoin is that it keeps coming back back. Why? Charlie Munger called bitcoin “worthless artificial gold.” Others in the media have likened bitcoin to a bubble, a “tulip mania,” and different strong statements Each time bitcoin improves itself (like with Segwit Segregated Witnesses. A protocol implemented by Bitcoin to extend transaction speed. SegWit allows a lot of transactions to be written into a single block on a blockchain. or the Lightning Network), or will increase in value, the media is keen and ready to jump on it, decrying and denouncing it. Therefore what’s the reality behind bitcoin’s price -- is it extremely a bubble? The reality regarding bitcoin is straightforward; it's experiencing the same rise and fall cycles as each new technology and asset catego The web also experienced a bubble. Shares of dotcom firms rose by a thousandpercent on a daily basis. Then it all tumbled down. However we have a tendency to’re still using the web, aren’t we have a tendency to? More than ever, in fact. Stocks conjointly experienced big boom and bust cycles, especially in their early days. We might feel like stocks have been around forever -- and to us they need. However stocks conjointly had a starting, and a rough one too. Once upon a time in 1531, when the first stocks were invented, they saw extraordinary volatility, scams, and no regulation. In fact, before stock exchanges, they were sold at occasional shops -- just like cryptocurrencies were sold on la peer to peer marketplace, before exchanges came online. Even property, viewed by the majority as “the safest investment” experienced a dramatic cycle. Business Insider reported that “Between 2006 and 2014, nearly ten million homeowners in America saw the foreclosure sale of their own homes.” And tens of thousands became homeless as a result of of it. Nevertheless --- we have a tendency to’re still living in homes, aren’t we? The future of bitcoin would possibly be the identical as that of stocks, bonds, assets, and the web. It rises and falls like all the others, and it is currently terribly volatile -- but that’s as a result of it’s young. Stocks have been around for 400 years. Dotcom corporations for forty years. Bitcoin is solely 10 years previous -- and cryptocurrencies, normally, are even younger. But slowly, they will become a part of our daily lives. Rich investors are manipulating costs! Look at this headline from the Independent: “Bitcoin price Crash: 'Manipulative Whales Whale A very wealthy individual capable of creating massive trades. View full glossary ' cause Cryptocurrency Market Meltdown!” It’s sensationalism, pure and straightforward. The article goes on to rant against these therefore-known as “whales” -- individuals who own voluminous dollars of BTC -- as evil-doers who’s solely thought is profit. This type of sensationalism is meant to harm Bitcoin’s future; to scare people faraway from doing research and thinking for themselves. Nonetheless, this statement is somewhat true. Up to eighty five% of Bitcoin’s supply is solely owned by onepercent of wallet addresses. But there’s an important point to be made about these numbers. Most of the prime percentage of wallets is not owned by whales -- but by exchanges Exchange On-line platforms on which people can buy and sell cryptocurrencies. View full glossary . However their result is getting smaller and smaller. A company referred to as Chainalysis -- that makes a speciality of analyzing the Bitcoin blockchain -- found that “the actual threat that all whales pose to the cryptocurrency economy is relatively low. If they sold off their entire holdings, it'd be effectively a $3.9 billion sale at current costs. That’s not even tenpercent of this total market capitalization of Bitcoin.” This is as a result of, as I hinted above, several of those wallets holding such vast sums are the ‘cold wallets ’ (wallets held offline) belonging to major exchanges like Coinbase, Kraken, Binance, and more. These wallets cannot be used to manipulate the price, diminishing the potential impact of enormous ‘whales’ selling their positions. Bitcoin is simply too slow for use as a currency. The reality regarding Bitcoin is that yes, it's slower than VISA, Mastercard, and alternative centralized electronic payment systems. Paying together with your credit cards takes seconds and the network can handle payments around the globe twenty fouseven. But, though Bitcoin can additionally be used around the world, confirmation of payment takes an average of 10 minutes; during the bitcoin craze recently 2017, confirmation times might take hours. Moreover, VISA on average processes around 2,00zero transactions per second (tps). This means the amount of payments individuals make per second on the network. VISA includes a maximum of twenty four,00zero TPS. Bitcoin, by distinction, has a maximum of ten TPS. This argument has been place forward by several critics over the years and picked up by the media as the doom of bitcoin’s future. However Bitcoin could be a technology that evolves. Now let’s assume regarding Bitcoin’s past for a moment. The coin and its underlying technology -- the blockchain -- are only ten years previous. When the web was ten years old -- the year was 1989. Do you keep in mind the net in 1989? I sure do. payments in exchange for not revealing sensitive info. So, in bound ways that, BTC and cryptocurrencies offer hackers a lot of options. However money continues to be king for every criminality. Though it’s true that hackers and phishers do typically ask for payment in BTC There’s an aphorism: “money talks.” It means that that if you would like to get something done -- the best argument you can build is to place down a stack of money. When Bitcoin rose to fame, the primary headlines focused around Bitcoin being the prime choice for criminality. But Lilita Infante, Special Agent for the DEA (Drug Enforcement Administration) has some contradictory info regarding this. She was one among a ten-person Cyber Investigative Task Force team whose primary aim was the dark web and crypto-related investigations. This cluster is no little force. They collaborate with the Department of Justice, FBI, and also the Bureau of Alcohol, Tobacco, Firearms and Explosives. And she went on the record to talk regarding what share of bitcoin transactions are literally being employed for illegal things; she said that “illegal activity has shrunk to about 10 p.c.” Only tenp.c of all the transactions on the Bitcoin network could be used for illegal things. Which number is falling. The fall in Bitcoin’s use among criminals is due to several factors. The most prominent factor is that Bitcoin is no longer anonymous. Sciencemag wrote a full report on how governments are developing and using techniques to explore the Bitcoin blockchain and notice criminals by tracing their bitcoin payments. Paying with bitcoin isn’t simple. I’ve heard this argument flow into widely throughout the years. I still hear it from my grandpa each vacation dinner. He didn’t see a Bitcoin checkout option at the grocery when he bought the turkey -- therefore it’ll never be used. Perhaps Bitcoin is on its means to being such a store of worth. For 10 years now bitcoin has been ready to be saved and retrieved and exchanged -- and it’s worth has only gone up (bumpy but up). Need to get more cryptocurrencies? Check out our top 5 cryptocurrencies to shop for, whether you’re a beginner or an experienced investor! Bitcoin is difficult to use. Bitcoin, like all new technologies, isn't the most user-friendly. You would like to line up a wallet, bear in mind a seed phrase, and several additional steps. Sending and receiving BTC payments additionally involves steps of copy/pasting long strings of random letters and numbers. It’s powerful, I hear ya. I additionally keep in mind all the steps I needed to require to send emails back when those were new. Insert a CD from AOL into my computer. Install AOL. Unplug my phone line. Plug in my Modem. Wait for it to make all those noises and finally connect. Then set up my AOL email and password. It was quite the method. My grandfather never thought emails would come out and even my mother said folks would perpetually like handwriting letters (and using a physical dictionary for spell check!) and sending through the post. Think about it the approach we tend to assume about gold. Not everyone has gold. It’s also a bit difficult to own. If you wish to own gold for its ‘store of price’ properties, you wish to seek out a specialized look to buy investment gold. You need to store it somewhere, sort of a personal safe or a bank vault, and bear in mind the password. This is somewhat troublesome. https://preview.redd.it/k0x3jqsm8df51.jpg?width=770&format=pjpg&auto=webp&s=ff7c2f29881c28fb22c9828c497cc1981eea2919 Perhaps Bitcoin’s problem will facilitate it retain its value, just like gold You Might Conjointly Like: The 5 est Bitcoin Sports Betting Sites https://www.cryptoerapro.com/bitcoin-future/
Multicurrency Wallet DEXs will be the standard of the 2020s. The present status quo is an absolute joke.
Before I begin, I'd like to ask you a question. Why are so many of the most established people in crypto among the most closed-minded when it comes to talking about new ideas? Why is the crypto space more concerned with what a clown from Australia is lying about or petty figurehead drama than the hard work and effort of the good and lesser-known among them? Let's talk about altcoins for a minute. It'd be a very tough job to count every single alt that's come in on a hypetrain and died in obscurity. If I were to guess that 95% of them failed, I wouldn't be surprised to hear that it was a conservative estimate and that the number is even higher. Indeed, it would be much easier to count the exceptions to the rule. To name a few - ETH, LTC, XMR, and (quite amusingly) DOGE. Should the stubbornly high failure rate of alts justify writing them all off as garbage? Businesses have an incredibly high failure rate too. It would be foolish - outright silly, even - to say that the grocery store is a fraud and a scam because the aqua-saxophone jazzercise laundromat failed to live up to it's expectations. Maybe not, because this is exactly the way the crypto space is right now. That line of thinking is the de facto standard in the cryptocurrency space right now - "guilty (of being a shitcoin) until proven innocent (by some central authority figure or big exchange who can validate it for us so we don't have to do it ourselves)". To be fair, there was an aggressive torrent of these "goofy laundromats" in 2017 and people are either hungover or shell-shocked from all the broken pipedreams and costly fiction. You'd think that the titans of this industry, particularly those who care more about the cypherpunk essence of Bitcoin than how rich they can get off of it, would be more receptive to the legitimate projects that are working in obscurity to harden the crypto space and it's infrastructure. Unfortunately, that does not seem to be the case. All too many seem to think that everything that needed to be built has already been built. Considering that all the Bitcoin titans are somewhat newly-minted, the irony is remarkable. No one used to take Bitcoin seriously. The further back in time you go, the more it took lonely effort and independent research to truly grasp its ideas. This is still the case today. Most have heard of it but have no idea what it is or why it's important. Many who are fervently in PMs or traditional investments like stocks and bonds continue to deride it, even though it will go down as the best performing asset of the 2010s by far. Others are a little more aggressive and, despite a lack of knowledge, call it anything from a scam to "rat poison squared". Like anything else, it's foolish to make bold claims atop little to no education. You'd think that treatment would make Bitcoin maximalists do some reflecting. Instead, a sizable number of them decided to emulate the ones who beat up on Bitcoin when it was small and irrelevant. "All you need is Bitcoin. Everything else is trash. I know what I'm talking about because I bought the top of the 2013 bubble and I'm probably immune to future dumps for life". Now let's talk about where cryptocurrency infrastructure falls short. Bitcoin still retains the same cypherpunk essence that it's always had. The same can be said for Bitcoin wallets. They're secure. They allow for anonymous transactions. They run on an immutable blockchain. There is no central authority between a key-holder and their funds. Enter the exchanges. In a way, they were a necessary evil. Without them, adoption would be severely throttled. With them, Bitcoin is compromised. For many, the privacy and anonymity that BTC is supposed to offers has been tossed out. It was the only way it could be retrofitted into a tightly-controlled system that demands KYC. While this has helped to spread adoption, Bitcoin has become more and more traceable. Quite ironically, many of these same exchanges that adopted KYC policies to "ensure accountability from their customers" had no trouble exit scamming. They come and go. The old one gets hacked, or it exit scams, or proves itself to be corrupt and suspicious. A new one comes. This time it will be different. Then the cycle repeats itself. Mt. Gox. Bitfinex. Polo. Bittrex. Binance. They all had their time in the Sun. These exchanges are in many ways the antithesis of the cypherpunk manifesto - vulnerable honeypots directly controlled by a centralized figurehead. Unsurprisingly, they cause a lot of unneeded trouble and give Bitcoin a ton of bad publicity. Example:
Me: "What do you think of Bitcoin?" Co-worker: "Didn't that thing get hacked last week?" Me: "Bitcoin didn't, but a place where it was exchanged was." Co-worker: "I don't trust it. It's only a matter of time til they find out how to type in some numbers to make more show up on a screen blah blah blah."
You've all likely met someone like this and brushed them off as closed-mined, but they're exactly the type of person this industry needs to convince to further adoption. It will be next to impossible to do so with the way things are right now. In order for Bitcoin to survive, it needs exchanges that are built to the same code that it was. The solution, therefore, is to "port" the cypherpunk essence of Bitcoin to the exchanges. Immutability. Anonymity. Privacy. No central authority of figurehead. With all that said, let's talk about DEXs. I started a thread on here a few months back when Binance announced that they were giving Americans the boot. I got a ton of answers. It shows that, among the hardcore at least, there is a desire to go in a new direction. Loopring, IDEX, and Bisq were among the more popular choices. It's a step in the right direction. However, these DEXs are still rather inaccessible - especially to outsiders. Performance wise, they're on the slower side of things. Due to these setbacks, they suffer from low volume. This is where some recent developments in multicurrency wallets with embedded DEXs from lesser-known projects will come out of obscurity and catch everyone by surprise. Among them - I'd like to mention Stakenet Wallet and KMD's Atomic DEX. Both of them, now seemingly weeks away from launch, will allow for atomic swaps between a wide variety of coins directly from a private wallet. Stakenet goes a step further by offering atomic swaps running atop Lightning Network. Why does this matter? These two platforms will be to exchanges what the inception of Bitcoin was to currency. Finally, after almost 9 years, Bitcoin not only has an exchange that truly honors its essence, but it's starting to see healthy competition between them. To elaborate further on why this is very important.. No KYC. No accounts. No sending Bitcoin to an exchange and waiting around for it to show up. No downloading multiple wallets. No exchange figureheads. No withdrawal freezes. In Stakenet's case, the decentralized MN network that runs it's DEX will also act as a massive LN payment processor (routing, watchtowers) that provides a ton of liquidity for it while allowing Bitcoin to scale. "Lightning swaps" will provide every LN-based coin the ability to be instantly swapped to purchase anything in BTC. Stakenet will also feature a DEX aggregator that will pool together the orderbooks of numerous DEXs into one easily-accessible spot, boosting traffic to the many DEXs that are harder to reach and furthering their adoption along. Simply download a wallet like you would any other app and you're ready to get started. It's so much easier and more convenient. I don't see how or why CEXs and all their ilk (figurehead drama, geoblocking, exchange hacks, wash trading, currency manipulation, exit scams, etc) could remain relevant in the environment to come. Regulation will not save us. Decentralization will. As long as one person learned something from this, it was all worth it. I welcome the opinions of everyone in this space.
Vechain 95 % of remaining non circulating supply lock up?
Suggestions - if anyone has other ideas lets discuss here. The community is an important aspect of Vechain, and considering so many people invested in Xnodes and higher and have watched their value all but disappear over the past year and a half i would think a transparent company like Vechain would be interested in hearing some suggestions from the community. The buy back is a small step in the right direction, but more could quite easily be done to improve things. For example lock up 95% of the remaining non circulating supply. Ripple chose to lock up their remaining supply, but every 30 days 1 billion is allowed to be sold which in reality does virtually nothing to ease investor concern of them dumping their supply on the market driving price down. 1 billion coins flooding the market is more than enough to cause suppression. There is a petition going around right now to get Ripple to cut this in half and Ripple just announced theyre substantially reducing xrp sales to more accurately represent actual trade volume. Apparently Coinmarketcap shows hugely inflated false trade volumes and Ripple is now using Cryptocompare to have a clear understanding of actual volume being traded. Read here - https://www.ripple.com/insights/q2-2019-xrp-markets-report/ If Vechain were to lock up 95+% of their tokens, and lock up 95% of their staffs tokens for another year, while they continue with the buy back theyve started it would solve the immense downward pressure and the market price of VET would begin to appreciate and more accurately represent all the company is accomplishing. The Walmart announcement moved the price up 30% in approx 1-2 hours and you could see volume increased dramatically for that very short period but within a few hours the entire 30% gain was back to ZERO! I assume someone(s) were just selling into the 30% until it was all wiped out because it happened fast. Have a look at all other cryptos and youll see that when big announcements come they increase in value substantially and typically hold 50+% of that gain going forward. Link is a good example but there are many others too. for approx 24 hours leading up to the Walmart announcement LATOKEN exchange was showing about 10-20 times the volume it usually has for VET so whoever it was trading on LATOKEN more than likely knew the announcement was coming. No proof ofcourse, but very odd to see this exchange suddenly blow away Binance and Oceanex 10 fold in terms of trade volume. With the minimal volume (actual exchange volume) we see with VET daily, even just devs selling / trading 50-250 million on the open market could suppress price inadvertently. Taking measures like these will raise Vechains standing amoung the naysayers and VET will rise into top 10 in the market in a fairly short period of time rather than continue to fall as it has for the past 1.5 years straight. When VET was VEN before the 100x supply increase i questioned how the market would react to having a coin with only 30ish million in trade volume daily multiplying its supply x100 and i suggested that without a number of the top exchanges trading VET, there wont be enough volume to prevent a major drop in price and that is what happened. All other cryptos on the market that have 10 billion+ circulating supply and have a more accurate token price have maintained 5x+ the trade volume Vet has, and they are listed on most of the biggest exchanges - where Vet isnt. So exchange listings are also very important not only for the trade volume but the sense of market recognition they provide any crypto that is listed. Maybe a portion of the 25 million $ allotted for the buy back could be used on exchange listings instead? Anyone else have some ideas? EDIT - found this on the cryptocurrency subreddit by u/bLbGoldeN - and it provides some good insight on why projects like Vechain might not be more valuable...YET It has been a decade since this market's inception and 3 years since I've started monitoring it closely and analyzing it. Whether you're new to crypto or a veteran that has been through multiple bubbles, chances are you don't really know what's going on. Despite surviving the worst bear market so far, we're hovering at a $300B total market cap. So how come crypto journalism is so bad it sticks out even when compared to modern journalism? The answer is that the lack of available foresight and unbiased analyses is very much on purpose. Litecoin, Bitcoin Cash, Bitcoin SV and other clones (and almost everything else, but clones aren't as nebulous) really give you a great window on the insanity of this market. Everyone who tries to attach any kind of metrics to these projects or make realistic predictions regarding adoption and 'fair value' is prompted with a question: "Who in their right mind could think this is worth 5+ billions?" Since it's essentially impossible to reconcile market valuation and fundamentals, they assume that there's something they're not getting, that there's crucial information they lack, so they resume business as usual. There has to be a reason, right? The truth is that crypto as a whole is a rare and insanely profitable cocktail. The market is split almost perfectly in two (by perfectly, I don't mean a 50/50 split, I mean that these two sides represent almost 100% of the market): Manipulators, who have the means to perform due diligence and are fully aware that the vast, vast majority of projects will absolutely never go anywhere, yet that a select few might explode. Gamblers, who do not understand the underlying technology (and even less the economic environment surrounding said technology) but are ready to shell out millions collectively to make a quick profit. The amount of people who perform thorough, unbiased research and invest carefully is staggeringly low, simply because there are very few individuals with the resources required to sift through the bullshit and without any intention to exploit the market. Coupled with extremely low real liquidity (arbitrage and market makers shouldn't really be considered), this results in a nonsensical market of booms & busts that benefits manipulators every time. However, none of this would be possible if it weren't for a key ingredient: Bitcoin. As long as Bitcoin and any of its clones gravitate towards the top, you can be sure that the market conditions haven't changed, because they act as indicators. Our top meme is a perfect testament to that: "HODL" is based on the bizarre and baseless assumption that the past will repeat ad vitam, and it does a great job keeping liquidity low. In short, it's a perfect gauge of the community's overall idiocy. Mainstream media only exacerbates the issue. It's much less costly (and thus, more profitable) for it to invite supporters or critics of Bitcoin to push a certain agenda than it is to pay competent journalists or experts to provide a detailed explanation of smart contracts and the rise of a programmable economy, for example. Yet I can tell you that in most professional circles, nobody talks about Bitcoin. Manufacturers don't care about receiving payments in Bitcoin, they care about data integrity and security. Energy consortia aren't interested in having households pay their bills with Litecoin, they care about autonomous, self-balancing, self-monitoring grids that optimize electricity distribution and pricing. There are several projects that have a much better chance to overcome the hurdles of adoption, yet it's unlikely you'll find them in the top 10 positions, because they're neither sexy nor simple. Why would manipulators waste time, money and effort inflating those projects' value, when they know full well that they'll appreciate on their own in due time? It's much easier to extract as much money as possible from morons who are willing to 'invest' in worthless junk and let the rest depreciate dramatically to secure a lower entry point. Even as the technology progresses and real innovations are made public, tribalism and hit pieces take care of the rest. TL;DR: Current prices are not indicative of future success. If you've performed the research and come to the conclusion that an asset is undervalued, believe in yourself. This market is not your friend, it exists only to take your money.
Find Out Why Institutions Will Flood the Bitcoin Market
As originally written via CoinLive: (improved reading experience) Back in 2017, the blockchain industry experienced an unprecedented interest which ended in what is often referred in financial terms as “irrational exuberance”, with a large portion of the rally led by retail-type investors flooding the market to ultimately chase prices at illogically hefty levels based on the infancy stage of the technological advancements and its implementations. That rise was too fast too quick and eventually, in early January 2018, the bubble-like move came to an abrupt end. The question now is, what will it take for another sustainable bull run to materialize? At CoinLive, we will inspect the key missing pieces of the puzzle. In this article, we will investigate the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass. The two critical impediments for the ‘smart money’ to have been on the sidelines are clearly identifiable. Firstly, it has to do with custodianship, in other words, having formal mechanisms that allow the safe storage of the asset. Secondly, the regulation around the crypto market must be clarified with clearer guidance. When it comes to the first missing piece of custodianship, the NY Times recently helped shed a light on where we are headed. The influential newspaper reported that ICE (Intercontinental Exchange), which is the parent company behind the NY Stock Exchange (NYSE), is working confidentially in the implementation of swap contracts for banks and large investors that will be settled with the physical delivery of Bitcoin. For ICE to even consider this idea it means that the problem of legal custodianship is being worked out so that the backing and security of Bitcoins by the NYSE will be in place. This will open the floodgates to a whole new market, where the King of cryptos and other digital assets down the road become available to a much wider and more influential customer base. We are certainly at a stage where institutions have recognized that Bitcoin is “too big to ignore”. What’s also important is that by using a swap contract, the trading of Bitcoins will be oversight under the existing regulatory framework of the Commodity Futures Trading Commission, hence less regulatory uncertainty. As a reminder, the CFTC is headed by J. Christopher Giancarlo, who is a proclaimed pro-blockchain endorser after his popular appearance in front of a U.S. Senate hearing on blockchain technology last February, where he famously said: “We owe it to this generation to respect their interest in this new technology.” Moreover, earlier this year, Boston-based State Street, the world’s second-largest custody bank with around £24tn in assets under custody and administration, came out to announce that safeguarding clients' digital assets could be a service they are looking to provide a solution in the near future. If confirmed, it would represent a major move as it sets a precedent as the first global bank to provide custodianship services for crypto-related investments. While Bitcoin is not serving its initially intended purpose as a widely used method of payments (for now), it has found another appeal as a store of value that is uncorrelated to any other asset class, hence it has an exceptional use as a hedging strategy for multi-billion dollar portfolios to help reduce the overall volatility. Other stories strengthening the notion of institutional capital set to come into the cryptoverse include the news that Goldman Sachs will be trading futures contracts linked to Bitcoin’s price as an initial step, only to gradually transition into a more direct trading of buying and selling actual Bitcoins. Find our recent article where we explain why Goldman Sachs trading Bitcoin is such a big deal. Even the chief executive of Nasdaq, Adena Friedman, recently said considerations were being given to set up a virtual-currency exchange should the needed regulatory framework be resolved. Additionally, we have seen a growing trend of senior-level executives at institutional firms flocking off the safety of their well-established positions to venture into blockchain-related jobs. We include a few articles with evidence below: Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds Mike Novogratz Makes Goldman VP the COO of His Crypto Company Coinbase Hires Ex-Barclays Director to Expand Its Institutional Client Base Commonwealth Bank CFO to Lead Block.one as President and COO The migration in job positions from traditional financial markets into blockchain comes as no surprise and quite frankly, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, which has more than 100,000 employees and over 150 years of history, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream is formidable once they decide to integrate cryptocurrencies into their business models. Another piece of the puzzle, even if occurring behind closed doors, is the consideration to launch a Bitcoin ETF. Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place. More evidence of the emergence of institutions playing a more dominant role in the blockchain industry is the unprecedented interest to amass Bitcoins in the OTC (Over the Counter Market). We perceive this trend as directly linked store Bitcoin as a store of value. This article by Bloomberg should give you a taste of what's happening behind the scenes: The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers. As ConLive recently tweeted: "Our network of Insiders telling us between 5000-10.000 BTC are being sold every week OTC by Chinese BTC miners to Israeli buyers - Wall Street type - as they look to accumulate a big hand in BTC. “ !(https://coinlive.io/ckeditor_assets/pictures/868/content_2018-05-15_0957.png) Lastly, one of the most critical missing piece is the subject of global regulations. Back in March, Mark Carney, the head of Bank of England and the chief of the Financial Stability Board of G20 stated that “crypto-assets do not pose risks to global financial stability at this time.” That caused a temporary relief in the crypto sphere as the risk of a regulatory backlash was removed for the time being until July, the month when more clarity will be provided. The chair of the Argentina Central Bank, Federico Sturzenegger, on his role of sitting the G20 summit, said that members showed a unifying view on the need of cryptocurrencies to be supported by a more sound regulatory framework. The policy-maker, however, made it clear that they first need to examine the cryptocurrencies universe to gather the necessary data before proposing regulations. “In July we have to offer very concrete, very specific recommendations on, not ‘what do we regulate?’ but ‘what is the data we need?” Sturzenegger said. To sum up, the improvements in custodianship solutions, along with more clarity by the G20 committee, which is set to provide less uncertainty for institutional investors’ involvement, is a recipe for a renewed bull wave, this time of institutional capital, to shake up the crypto space. At CoinLive, we will not venture into the timing, as that is quite irresponsible trying to pretend we have a "crystal ball" to determine when moves will occur. We just simply look at the big picture and try to connect the dots by first breaking down the latest developments to then draw some conclusions. Never forget, markets should always be approached as a numbers' game, and while nothing is certain, we just attempt to envision and inform on scenarios with the highest likelihood.
Cryptocurrencies have grown exponentially not only in price this past year but also in public awareness and popular attention. The novel feeling to an emerging financial and technological market is reminiscent of the rise of the Internet with its innovative potential. In turn, a heightened collective societal awareness of this new innovative potential has led to a change in the nature of the market dynamics of cryptocurrencies. As Heisenberg’s Uncertainty Principle posits, “The observation of a phenomenon changes the phenomena itself.” The observation of thousands of young millennials, and now middle-aged investors, will only accelerate the rise of cryptocurrencies as times goes on. Today, we are seeing the real-world effects of a newfound intrigue into cryptocurrencies. This new interest is causing a narrowing of the divergence between truth and fiction over accurate knowledge about cryptocurrencies. The force drawing this gap narrower each day is an increased dissemination of truthful information that has generated legions of individual investors into new cryptocurrency markets; in particular, Ripple’s XRP. As the public expands its understanding of Ripple’s XRP, the capital inflow from both individual and institutional investors combined will likely grow to levels that will exponentially grow the liquidity of XRP and, as a byproduct, its price. Here, in this report, I will provide an overview and analysis of Ripple’s XRP and the implications Q4 2017 and the year 2018 and beyond hold for the future of XRP and its price. THE CONCEPT: WHAT IS XRP? XRP is the digital asset used by Ripple to offer financial institutions an option for liquidity to conduct cross-border payments. It is predominantly used for Ripple’s solution for the minimization of liquidity costs. In contrast to most other cryptocurrencies, XRP’s application here features a real-world applicability that extends to real-world transactions. It is used for the xRapid solution provided by Ripple, and is the only one of the three solutions Ripple offers (The others are xCurrent and xVia) that employs the use of XRP. THE RATIONALE: WHY XRP? There is a myriad of factors that distinguish XRP from other cryptocurrencies and establish it as a forerunner to what may become the dominant cryptocurrencies in the years that lie ahead. Cost: Comparatively, XRP has the lowest cost per transaction at $0.0004. In contrast, BCH is $0.26, LTC is $0.37, DASH is $0.64, ETH is $0.96, and BTC is $28.23. Scalability: XRP can handle over 1,500 transactions per second whereas BCH can handle 24 per second, LTC can handle 56 per second, DASH can handle 10 per second, ETH can handle 16 per second, and BTC can handle 24 per second. Speed: XRP can conduct transactions at a rate of 3 seconds per transaction, BCH at a rate of 58 minutes per transaction, LTC at 17 minutes per transaction, DASH at 15 minutes per transaction, ETH at 2 minutes per transaction, and BTC 1 hour and 6 minutes per transaction. XRP’s availability is ever-expanding. It is currently available on over 50 exchanges including Bitstamp, Bithumb, Bittrex, Binance, Bitfinex, Kraken, and Poloniex. The volume of XRP availability is, in addition, in an expansionary phase. The primary location of exchange volume is concentrated in Asia; in particular, South Korea. However, as mainstream media attention increases, so will American interest as well. There already have been tell-tale signs indicative in news outlets that have covered Ripple recently in the wake of XRP’s rise in CNBC, Bloomberg, Forbes, Investopedia, and Yahoo Finance. Simply consider the mania generated by the media attention to Bitcoin. Repetitive news stories featured on CNBC, Bloomberg, CNN, CBS, and other mainstream media news outlets. Countless articles disparaging it as a bubble and hailing it as a force that could deconstruct the financial apparatus governed by the Federal Reserve and other central banks. Now, consider the results of media attention directed towards the substantive information behind XRP. Once news segments and articles are shown and written that illustrate the comparative superiority of XRP to other cryptocurrencies, then the viewers and readers will likely flock to XRP in pursuit of acquiring a tried, tested, and proven cryptocurrency with real-world usage. In turn, a virtuous circle intensifying capital inflow to XRP is predictable and probably to occur. We can expect FOMO to rise and a number of oscillations up and down for the price to unfold. Nevertheless, the price of XRP is bound to not only remain but rather accelerate its demonstrated upwards price trajectory pushing us to new heights. Additionally, if the collective fear among cryptocurrency investors materializes, that is, if new regulations are imposed on our activities, then Ripple is stand to likely gain. Dr. Nassim Nicholas Taleb, a scholar and risk analyst writes about a concept called “Antifragility.” Antifragility is a term used to describe things that gain from disorder. Considering Ripple’s ties to financial institutions and regulators, it wouldn’t be too far-off to speculate that XRP is positioned to gain if such a black swan event were to occur. FURTHER REASONS TO ADVANCE THE CASE FOR XRP: Financial institutions, renown investors, and accomplished financiers have already taken notice of XRP. Former Federal Reserve Chairman Ben Bernanke has advocated on Ripple’s behalf. Zoe Cruz, former president for institutional securities and wealth management at Morgan Stanley and former global head of fixed income, commodities, and foreign exchange has joined Ripple’s Board of Directors. She has been named to Forbes list of Most Powerful Women for three years straight. Perhaps most notably, a consortium of 61 banks – organized by SBI Ripple Asia – will be adopting Ripple’s technology to settle transactions between its members with the eventual goal of applying XRP to usage. Mr. Yoshitaka Kitao, the CEO, Executive Chairman, and President has publicly stated, “Forget about bitcoin, we’re all in on XRP!” In fact, SBI has already confirmed that XRP will be put in usage in Spring 2018. If successful, expect the price to reflect it. Moreover, TechCrunch Founder Michael Arrington has, as of November 2017, announced a $100 million XRP hedge fund. His efforts have already raised $50 million which will engender a ripple effect of new large net-worth individual and institutional investors. The entity will be called Arrington XRP Capital and new information about its activities are set to be released in the months that lie ahead. Also, David Schwartz, Ripple’s Chief Cryptographer, has said that there are two major “household” companies (Not financial institutions) that will be announced in Q4. This is likely to provide a substantial boon to XRP. Finally, the Chief Technology Officer of Ripple, Stefan Thomas, has said that in 2018 there will be a “big push on XRP.” For years, Ripple has kept a relative silence in expressing the superiority of XRP. 2018 will be different. 2018 is bound to be Ripple’s year. I expect the price to rise as high as $10 and as low as $4. At any rate, this report only scratches the surface of Ripple and XRP’s potential. For far more nuanced and in-depth analysis and information, I suggest reading from Ripple firsthand at www.ripple.com and perusing the best blog on XRP itself at https://xrphodor.wordpress.com/ To the moon, we go. SOURCE: https://cellardoorway.com/2017/12/24/the-case-for-ripples-xrp-a-brief-overview/
Super Beginners Guide to getting started in Cryptocurrency. (written from a Canadians Perspective)
Getting Started in Crypto What is cryptocurrency? In the most basic sense a cryptocurrency is an encrypted currency (generally decentralized but not always) that functions on a blockchain. This was executed first by satoshi nakamoto in 2008 after the financial crisis caused by the crash of the housing market. The creation of bitcoin and blockchain solved the double spending problem, which in turn paved the way for everything that has and will come. What is blockchain? This question can be answered in many ways, for sake of this guide I’m just going to do it in the simplest and if you want more detail I am happy to provide. “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value”. What that means is that it’s a system the cannot be corrupted, and records everything done on a given exchange network. In terms of currency that means that every transaction is recorded somewhere on the blockchain. In terms of other goods or services there are endless possibilities. Coin vs Token. In its most basic sense a coin is a cryptocurrency unit that is exactly that, a currency. Generally, the early players in the cryptocurrency world are coins. You have coins such as bitcoin, litecoin, and monero. A token on the other hand is a cryptocurrency that has a broader function. These tend to be the new school of crypto and you get things like ether, ripple, raiblocks, and so on. It is important to be able to distinguish between the two so that you know exactly what you end up investing in. Exchanges and Wallets. So, once you finally decide you want to get involved the first steps are to find yourself a wallet and exchange for your desired currency. Wallets can be found online and generally most cryptocurrencies have designated wallets you can find on their website. Exchanges are where your fiat currency (things like cad and usd) and then exchange for whatever you desire. Coinbase is the biggest exchange as of right now, however it isn’t Canadian friendly and only holds 4 currencies as of now (that number will change in the future). I personally use Quadrigacx, it is a Canadian exchange based out of Vancouver where uploading fiat currency is easy once you become verified (submit required documents). It is very secure, and I have had no problems with it to date. Now, quadrigacx only exchanges a handful of currencies so if you are looking for one that isn’t on there these will be your steps. Wire capital to quadrigacx, buy BTC, transfer your BTC to an exchange that carries what you like, and purchase it through there. The list of exchanges I use, and trust include: bittrex, binance, kucoin, yobit, coinexchange.io. kraken, and radar relay. Now once you start to get involved I suggest you stick to quadrigacx, bittrex, binance. Those are the major players and by far the easiest to use. Once you get more accustomed to the environment of trading then I would say branching out is a good idea. What to buy? Fuck, good question. The most important question you must ask yourself is do you want a short or long-term investment. To start your journey, I would say long term would be the best bet. You can purchase some crypto, watch it go, pay attention to the market and what influences it and make some steady gains (hopefully). Long term investments are held (in my opinion) for at minimum three weeks. My rule of thumb for long term investments is that it must fit 3 criteria. It must be a technology I believe in and like, a reputable team must back it, and it MUST BE SCALABLE. If something fits those then I’m in for the long haul. Now short-term investments are not day trading. What I mean by short term investments are small shitcions that have good ideas, followings, and has potential to gain fast traction. Personally, when I choose short term investments I like them to be under 2 dollars and I hold them for 3 days to 3 weeks. If I’m not happy with them at any time within that period, then I’m out. DON’T BE A GREEDY SON OF BITCH Now to elaborate on my previous points, if you have a long-term investment… ITS SUPPOSED TO BE LONG TERM. Now I’m not saying you can never walk away with profit because profit isn’t profit until you pull it out. This is kind of a double-edged sword and this is what distinguishes good traders from average. You need to have the stomach to hold when others pull out and panic sell, and you need to have the brains to pull out before it crashes. In other words, you need to be smart about every single action you make in the crypto world and you need to make every decision for yourself. Not because you read some crackpot of reddit panic selling over a 2% dip. INFORMATION INFORMATION INFORMATION You must understand that cryptocurrency is not stocks. You are not buying into a company, you are purchasing a good. This is imperative to understand. The cryptocurrency world does not sleep like the stock market does, it is constantly moving whether you are paying attention to it or not. This means that sometimes you are going to get lucky and stumble upon something at 2am on a Tuesday night that could make you rich, or maybe you lose out on something because you were sleeping. Shit happens, and you can’t dwell on it. It is a volatile market and you must do the best you can in the present moment and not get caught up in the past or future. Those who try to predict the market lose it all. Be smart all the time and think every decision through. Information is constantly flowing which means you need to be an active member in the community if you want to stay on top of it, this means reddit, google news, telegram, discord, and people. It is so easy to network and get involved, and it really is an overall safe and good community. One of the best parts of cryptocurrency is that everyone involved wants it to succeed, and for it to succeed everyone needs to help everyone. That is why I am writing this for you. You need to constantly be educating yourself. Understand that you can’t be an expert, but you can be educated. There will always be others out there who know more than you, and you must be willing to find and learn from them. Be respectful and ask questions ALL THE TIME. Is it a bubble? Notice how I didn’t ask the question “will it crash” because the answer to that is always going to yes. That is how people buy low and sell high to make money. You want to get in low, and sell before it crashes. In the past 2 months the crypto world has experienced 3 major crashes. All of them has recovered and all of them were great opportunities to make good money. Like I said, be smart and try your best to be ahead of the game. That being said you are going to lose money at times. That is okay, just make sure you learn from it. Sometimes it can be attributed to poor decision making, and other times its just shit luck. ITS OKAY. In my opinion crypto currency is not a bubble. Blockchain technology has the ability to change the world in radical ways we haven’t even thought of yet. For something to be a bubble it must lack utility, but everyday more and more utility comes around for cryptocurrency. Whether it be buying goods with bitcoin or banks implementing ripple into their everyday business life. Safety Now in an online world you must do a lot on your own. This means you must be safe about everything. Double and triple check everything, avoid anything you don’t 100% believe in, and keep everything safe. This means all your passwords and code need to be written down in at least 3 places as well as up your ass for good measure. You lose your shit you lose your money. Simple. Don’t be fucking around and handing anything out to anyone because in an environment where you can make everything in an hour… you can lose more in seconds. So be weary and trust your gut. And that’s it for the basic guide. If you have any more questions or want more in depth knowledge or insight I’m happy to give what I know upon further request. Remember that this is a volatile market and everything I said it just MY opinion and knowledge. Take it with a grain of salt and question everything for yourself. Don’t invest anything you aren’t willing to lose and be involved for the right reasons. Cheers and good luck.
A word of caution. All major exchanges are not even fiat gateways. The actual fiat in the system is likely grossly overestimated. Crypto is decoupled from USD. Implications.
First of all i should disclose i'm fully out of crypto since last Sunday, i'm just waiting for my EUR wire from Bitstamp as that has been my gateway since 2014. I would like to thank bitcoinmarkets for the good times, i've been around for a long time but not really participating that much, and even when I did i used throwaways. I decided to make this topic as a warning and to explain why I got out and why I think you should be very careful. So we have a situation in which: 1) 80% or more of trading is in USDT (tether) 2) Coinmarket cap is an accomplice to Bitfinex which implies USDT-USD parity. To which degree this is intentional, irresponsibility or just incompetence I would not know. Basically conimarketplace lumps all USDT trades and prices with actual USD trades and prices. If you go there https://coinmarketcap.com/ and try to select PAIR, you get THIS. No USDT, even though most exchanges are USDT. Even if most of liquidity is USDT. Again, this is a major factor in implying parity along with what Bitfinex/Tether try to do. As if this wasn't enough, they also willingly or stupidly inflate USDT price itself. I have to remind you Coinmarketcap is THE point of reference for all cryptosphere. It's oscilating Alexa rank is 100-400. Betfair (real life gambling company) for example uses coinmarket price average for their own system. etc. 3) If/when tethebitfinex crashes, not only does bitfinex crash, it will crash all crypto pairings using USDT on all exchanges using USDT. 4) There are very few fiat gateways. Until recently I assumed the major(top) exchanges have some kind of fiat pairing. I mean.. any respectable exchange would have some way of actually getting money in and out, right? I didn't even think to check. Well, they don't. Literally all the major exchanges are USDT (and/or another stablecoin or proprietary coin) and nothing else. No USD, no EUR, no fiat whatsoever. https://coinmarketcap.com/rankings/exchanges/ . Only the 11th one has actual USD pairing. Didn't check lower but most exchanges don't have fiat. I did a full check on Binance myself as it's the biggest exchange and I had an account there for lulz. There is no fiat. What does this mean? It means that an allegedly 200 BILLION market cap of all crypto has a fiat gateway of only a couple of exchanges. Most exchanges not using any fiat are not only immune to the risk, they offload risk on the much smaller exchanges that are fiat gateways. And on clients, of course. The cash side of the actual exchanges would need to have to siphon even a fraction of this are unimaginable. If any of these exchanges use crypto to evaluate their own fiat balance (it is illegal but crypto is hardly regulated or audited), they're fucked. 5) If the first four points looked bad, this one is by far the worst. The system is running on a presumed liquidity provided by Tether and on presumed USD capital. Even if tether was legit it's just 2b USD rolling 200b USD. And that 200b USD is just presumed quantity of USD that is in. We don't know how much USD is in the system, there could be and there probably is way less, as over the past 8 years or so crypto ran mostly on funny exchanges that could "provide" whatever USD value they wanted. More so, even if they went bust, people would usually get to withdraw crypto and store it on some other exchange. Even when an exchange was slowly withering, people just pulled out crypto and the exchange actual liquidity was hardly tested out. Or btc-e crashing or MtGox crashing. Their cash side crashed but "crypto" side did not crash. It was bailed out so to speak. So we have crypto running around that should've been worth 1/10 or 1/100 of it's price but it's instead running on par value with crypto on legit exchanges. This grossly inflates price. Even if tether (or other stablecoin) is legit, it can be drained in a couple of hours. What happens to the pairings of crypto/USDT? People just trade one bitcoin at the presumable price of 6k for 6k USDT that are 100% backed but have no value because there's no USD in the treasury? Who is stupid enough to deposit USD there to get stuck waiting for another fool to bail him out by getting himself stuck? edit: [Even if tether is 1%, it holds much more assumed/created value, which is the actual issue. Look at it this way. It only adds 1 cent to a real dollar market buy order for example. Each buy order made in a system that implies USDT:USD parity is now worth 1% more than a true USD purchase. Now repeat that buy order millions of times. It's not 1.01+1.01 times 1 million. It's more like 1.01$1.000.000 Each added value comes from USDT injection and USDT has to be liquid on the way down as well. It's added value to the market value is NOT it's market cap. That's a shitfest all "stablecoins" inject into the market, no matter how backed or audited they are.] As I was saying, all the exchanges that are not holding any fiat are immune to any crash or actual liability. If/when cryptos fail, they'll give you back any number of cryptos/stablecoins you had, even if they're worthless. It's just entries in a database. If/when USDT fails, all it's corresponding crypto prices will go to infinity. If you're holding any USDT, you can't get out of the exchange because 1 btc will cost infinity. If you're in any margin position, no matter where your stops are you'll get margin called instead, as stops are just suggestions in high/extreme volatility. You can't get out through fiat cause there's no fiat. Your only hope is you were actually holding crypto and they don't block withdrawals. Best case scenario you move your crypto to a fiat gateway exchange and hope to cash out there as fast as possible because it will have had become evident that cryptos were overvalued because of USDT (and even hypothetical USD in the system). Will most likely be too late as people that were already in fiat gateway exchanges already sold/cashed out. There will be enormous sell pressure. And no buyers. The whole stablecoin issuance is idiotic and I just hope it crashes now and we won't see another bubble built on presumed capital, cause that will hurt way more people. All of this is a mess. Crypto is completely decoupled from real fiat now. The potential money that are in the crypto sphere is exponentially greater than available money to trade out of. Or maybe we should be grateful for stablecoins for finally crashing a system that would've crashed anyway in the long run.
From Ge You-esque Slouching to Blockchain Decentralization
These days, all my friends are very anxious. I heard that they stay up till 3am working on the blockchain, sending ICOs, talking about things like “if it rises or falls within the range of 50%, it’s called a stable sideways move”, and “the profit rate will at least be 100 times”. They also talk about the next-generation Internet, the greatest technology revolution since the Industrial Revolution. So, how does this decentralized blockchain influence our life? Before we talk about the challenge of decentralization, we have to figure out why the challenge of decentralization exists. Things after a long period of division, tend to unite; after a long period of union, tend to divide. It is believed in China that “domains under heaven, after a long period of division, tend to unite; after a long period of union, tend to divide.” This rule applies not only to history, but also to the development of the Internet industry. In the past, the Internet was only used to make phone calls and was monopolized by one or two large companies. This was because of the circuit switching technology back then. If we look back to even earlier age, we’ll find that people had to use manual wiring. Such low level of technology determines that the network at that time can only be centralized. But the improvement of technology always leads to the new round of decentralization. The invention of the TCP/IP protocol gave an impetus to the arrival of the Internet era. As packet switching took the place of circuit switching, information could get around freely. Under such circumstances, it was simply impossible for one single company to monopolize the the resources of the entire network. It brought us the era of decentralization. Many portal sites and personal blogs came into being, and everyday there were newborn projects plunging into the great tide of the times. This state of decentralization lasted for a while, then new problems appeared — information was difficult to search Driven by this demand, search engines and super APPs became the new centers of the whole system. However, based on the data and portals that they had, these apps could collect more data. This is how centralization got to the era of cloud computing and big data. Just as the time when TCP/IP made the world decentralized. Today, the new technology of blockchain has once again led the world to an era when centralization gives its way to decentralization. Blockchain, Value Network and Consensus Many years ago, I had thought, “Why can’t I just put my money into a file folder, in which each file represents a certain value, and when I send someone else a file, I simply transfer my money to him?” It is a pity that this idea could not be achieved by traditional Internet. The traditional Internet is a net of information and can only transmit the copies of those information. However, value, is not easy to transmit. But the birth of blockchain has totally changed the game and made it possible for value to be transferred, just as information is transmitted. This is the magic and charm of blockchain. Transactions on the blockchain can only be generated by the user’s private key, and once they are recorded by the blockchain, they are impossibly to be changed. Based on the consensus of certain mathematical principles, people can trade with everyone without trusting them. Where there is consensus, there is possibility of cooperation. All the wars and tragedies in human history are nothing but the result of the failed consensus. After the financial tsunami in 2008, almost at the same time, two people thought of a solution to all trust problems in the world. l A Chinese and a Japanese l Ge You and his invention, the conflict resolution terminal l Satoshi Nakamoto and his invention, blockchain I have explained to others what blockchain is for a million times —
It’s a distributive ledger.
It’s a decentralized application.
It’s a consensus platform.
It’s token economy.
I was totally enjoying my explanation, and the listeners were always like “What on earth are you talking about? Can you stop speaking Greek?” Let’s watch an interesting video first. it’s called “Ge You and his conflict resolution terminal”. After that I’ll explain what blockchain actually is. URL: https://v.qq.com/x/page/e133670fxux.html Ge You is a famous Chinese comedian actor, and I mention him here just for fun. In this movie, his conflict resolution terminal only has two nodes, and simply by this, he defrauds another man to bankruptcy. We can just give it a laugh. We can understand blockchain in this way: it is a conflict resolution terminal that countless people can participate at the same time. It can seal all the transaction contracts collectively, and no sealed participants can withdraw their transactions. One particular feature about the seal is that it’s a very complex paging seal, so that no one can change the data in it. Using his knowledge in cryptography and POW algorithm, Nakamoto really implemented such a conflict resolution terminal. The world’s top scientists and mathematicians have verified the solidity of this theory, and after nearly ten years of running tests, nothing wrong has ever happened. And its value has increased by millions of times. Well, I also admire Mr.Ge and his efforts for world peace. The challenge brought by decentralization OK I’ll skip the chitchat and go back today’s theme, the challenge of decentralization. The challenge of technology development Change is the only constant in life. Technology is updated and renewed everyday, and so is the technology of decentralization. Because of its trustworthiness by nature, many systems that requires an intermediary to increase credibility are strongly impacted, such as banks, insurance industry, and lottery industry. Beside that, due to decentralization and anonymity, decentralization will impact existing industry rules in many gray dark-web trades or in the field where the law is lagging. From the perspective of security, any problems caused by the high centralization can have great social consequences.These days, Facebook is facing a 2-trillion-dollar fine for its data breach, which is a wake-up call for everyone. As for China, let’s just imagine how our life will be impacted if Tencent or Alibaba or any other Internet industry giants go wrong. With the commercialization of 5G technology and the explosive growth of IOT devices, the Internet traffic has shown an exponential increase. The asynchronous growth of the terminal devices and the server is a bottleneck that all centralized processing systems will eventually face. The challenge of awareness. We can catch up when our technology is left behind, but we will forever be stuck in the past if our mind is left behind. Many of us have a belief that the society in which we are living, was, should be, and always will be what it is now. It’s not true. The money you are using is not actually your own money. The money we use today has not always been the same. In fact, it is only a few decades old. Before the Bretton Woods system collapsed, it required equivalent value of gold as the credit guarantee to issue currency. And nowadays, we always see news like the following: 1）The U.S. national debt has exceeded 20 trillion U.S dollars. 2）Xiong’an New Area received 100 billion yuan of credit. 3）China Merchants Bank grants 4 billion yuan of credit to Anbang Insurance Group 4）Anbang Insurance Group granted 10 billion yuan of credit to Guangyuan If you can understand that national debt and credit are the same as direct currency printing, you can understand that the money you use is actually not your own money. Blockchain is a bubble. So is the very essence of currency itself. The reason why the release of TOKEN is so popular is that people for the first time actually realize that the essence of currency is credit. Credit, however can be created by media packaging and celebrity platform. And TOKEN is human’s first try to issue currency by blockchain. In the past, it took real guts to do such things. People who can understand it, will be zealous for it. People who don’t, call it fraud. Companies, have not always been like their current form. Actually, in the future, they might even disappear. Economic rules tell us that the transaction cost is the reason why company exists. A company will eventually grow to a state in which the company’s transaction costs and management costs are in balance. After that, the expansion of the company will lead to the increase in management costs. However, in the future blockchain world, the transaction of costs will inevitably converge to zero. Can companies still find their reasons to exist at that time? It’s not a long time since the first company came into being. So I would like to say that, the demise of the form of companies will not be far in the future. In terms of market value, bitcoin market value is over $190 billion, exceeding Goldman Sachs and Morgan Stanley, as well as Boeing. In terms of trading volume, some bitcoin companies such as Binance, OKEX and Huobi have almost reached the scale of the China A shares. And here comes DAO, Distributed Autonomous Organization. In the future, more and more companies will be community-oriented on the base of blockchain. Also, there will be more start-up companies choosing to finance by blockchain and operate as a community directly. Different people will have different feelings and understandings even when watching the same TV series. I watched a Chinese TV series called “Nothing Gold Can Stay”. It led me to think that, in the era of emerging capitalism, how greatly the traditional family business was impacted by the new production relations of the companies. The protagonist Zhou Ying, richest women in her province, failed not because she did not do well, but because the backward production methods dragged her down to the inevitable tragedy. Similarly, in the future, it’s not because that you are not good enough, nor your company is not good enough, but because more and more companies change their patterns and choose a decentralized and community-based mode. Challenge of the society The law always lags. Code is the (new) law. The laws in almost in every country stipulate that users’ data on the Internet only belongs to the users themselves. Companies like Huawei and WeChat also claim that the data belongs to the users. But they know clearly that the data belongs to whoever has access to it. Facebook, as well, claims that they will protect the user’s data. However, things turns out that they sell the data to whoever pay them. All software has user authorization and agreement terms, but who will actually read it? What’s the point of reading? Since the law is merely a useless ceremony thing. There are hundreds of laws about company governance and financing, but how does it do with decentralized communities? The law stipulates that whoever commits a fraud over a certain amount of money will be put into jail. But in reality, there are people who just defraud billions of dollars by using the blockchain, and the law can do nothing about it. The country is also a form of relation of production Chinese students have learned about the relations of production since primary school. I’m not very good at it, so I won’t dig too deep. Today, we are living in a centralized society, working in a centralized company, getting paid with the temporary coinage issued by the centralized system and imagining the challenges that decentralization will bring to our lives. Of course, our biggest goal is to make a better and fairer society by blockchain, where everyone will have more new opportunities. In the end, I’d like to end up my speaking with a song. It’s called “ Song of Blockchain”. Hope you enjoy it. — — — — — — — — End — — — — — — — — — Guoping Liu Blockchain technology and applications expert, one of Bitcoin’s first miners, founding developer of the Hero mobile cross-platform framework, president of the Hero Council. Formerly @ Wind, The9, and Dianrong, where he was heavily involved in the development of Dianrong’s blockchain applications. Previously spent many years developing the Hero framework and blockchain applications. In 2017, meshed the two together to create Hero Node, aimed at making distributed applications easy to develop for everyone. Staunch believer in a better future with distributed applications. In an open world, Hero Node welcomes any and all feedback. Especially helpful feedback will be rewarded! Talk to us: Email: [email protected] Twitter: Hero Node
A word of caution. All major exchanges are not even fiat gateways. The actual fiat in the system is likely grossly overestimated. Crypto is decoupled from USD. Implications.
So we have a situation in which: 1) 80% or more of trading is in USDT (tether) 2) Coinmarket cap is an accomplice to Bitfinex which implies USDT-USD parity. To which degree this is intentional, irresponsibility or just incompetence I would not know. Basically conimarketplace lumps all USDT trades and prices with actual USD trades and prices. If you go there https://coinmarketcap.com/ and try to select PAIR, you get THIS. No USDT, even though most exchanges are USDT. Even if most of liquidity is USDT. Again, this is a major factor in implying parity along with what Bitfinex/Tether try to do. As if this wasn't enough, they also willingly or stupidly inflate USDT price itself. I have to remind you Coinmarketcap is THE point of reference for all cryptosphere. It's oscilating Alexa rank is 100-400. Betfair (real life gambling company) for example uses coinmarket price average for their own system. etc. 3) If/when tethebitfinex crashes, not only does bitfinex crash, it will crash all crypto pairings using USDT on all exchanges using USDT. 4) There are very few fiat gateways. Until recently I assumed the major(top) exchanges have some kind of fiat pairing. I mean.. any respectable exchange would have some way of actually getting money in and out, right? I didn't even think to check. Well, they don't. Literally all the major exchanges are USDT (and/or another stablecoin or proprietary coin) and nothing else. No USD, no EUR, no fiat whatsoever. https://coinmarketcap.com/rankings/exchanges/ . Only the 11th one has actual USD pairing. Didn't check lower but most exchanges don't have fiat. I did a full check on Binance myself as it's the biggest exchange and I had an account there for lulz. There is no fiat. What does this mean? It means that an allegedly 200 BILLION market cap of all crypto has a fiat gateway of only a couple of exchanges. Most exchanges not using any fiat are not only immune to the risk, they offload risk on the much smaller exchanges that are fiat gateways. And on clients, of course. The cash side of the actual exchanges would need to have to siphon even a fraction of this are unimaginable. If any of these exchanges use crypto to evaluate their own fiat reserves (it is illegal but crypto is hardly regulated or audited), they're fucked. 5) If the first four points looked bad, this one is by far the worst. The system is running on a presumed liquidity provided by Tether and on presumed USD capital. Even if tether was legit it's just 2b USD rolling 200b USD. And that 200b USD is just presumed quantity of USD that is in. We don't know how much USD is in the system, there could be and there probably is way less, as over the past 8 years or so crypto ran mostly on funny exchanges that could "provide" whatever USD value they wanted. More so, even if they went bust, people would usually get to withdraw crypto and store it on some other exchange. Even when an exchange was slowly withering, people just pulled out crypto and the exchange actual liquidity was hardly tested out. Or btc-e crashing or MtGox crashing. Their cash side crashed but "crypto" side did not crash. It was bailed out so to speak. So we have crypto running around that should've been worth 1/10 or 1/100 of it's price but it's instead running on par value with crypto on legit exchanges. This grossly inflates price. Even if tether is legit, it can be drained in a couple of hours. What happens to the pairings of crypto/USDT? People just trade one bitcoin at the presumable price of 6k for 6k USDT that are 100% backed but have no value because there's no USD in the treasury? Who is stupid enough to deposit USD there to get stuck waiting for another fool to bail him out by getting himself stuck? Even if tether is 1% it holds much more assumed value, which is the actual issue. Let's say only adds 1 cent to a real dollar market buy order for example. Each buy order made in a system that implies USDT:USD parity is now worth 1% more than a true USD purchase. Now repeat that buy order millions of times. Each added value comes from USDT injection and USDT has to be liquid on the way down as well. It's added value to the market value is not it's market cap. As I was saying, all the exchanges that are not holding any fiat are immune to any crash or actual liability. If/when cryptos fail, they'll give you back any number of cryptos/stablecoins you had, even if they're worthless. It's just entries in a database. If/when USDT fails, all it's corresponding crypto prices will go to infinity. If you're holding any USDT, you can't get out of the exchange because 1 btc will cost infinity. If you're in any margin position, no matter where your stops are you'll get margin called instead, as stops are just suggestions in high/extreme volatility. You can't get out through fiat cause there's no fiat. Your only hope is you were actually holding crypto and they don't block withdrawals. Best case scenario you move your crypto to a fiat gateway exchange and hope to cash out there as fast as possible because it will have had become evident that cryptos were overvalued because of USDT (and even hypothetical USD in the system). Will most likely be too late as people that were already in fiat gateway exchanges already sold/cashed out. There will be enormous sell pressure. And no buyers. The whole stablecoin issuance is idiotic and I just hope it crashes now and we won't see another bubble built on presumed capital, cause that will hurt way more people. All of this is a mess. Crypto is completely decoupled from real fiat now. The potential money that are in the crypto sphere is exponentially greater than available money to trade out of. Or maybe we should be grateful for stablecoins for finally crashing a system that would've crashed anyway in the long run.
I was thinking about current situation. Couple days ago there were news that binance is under the pressure, and their CEO immediately told that they would open an office in Malta. And blockstream immediately told that they have an office there As I understand, serious people from crypto-world, at thegoverment level with officials make laws for themselves. Miners, meanwhile, are sitting in Canada with their farms and somewhere else. It turns out that the entire bitcoin infrastructure is safe: devs can still code, investors still could invest, miningfarms are also under protection with a reliable guarantor. So technically now there are no critical threats for bitcoin. But with bitcoin we have an interesting situation. Firstly, it was just digital currency, then it became "the store of value", and now it converts into programmable platform. Honestly, nobody will pay for beer or coffee with bitcoin, people are too greedy, and buy something big is still a problem, also because of high volatility. I cannot say that it won't work, but the time hasn't become for it, nevertheless there are already things like houses and cars that you can buy for bitcoin, but this position is till too weak. We have a couple really strong positions : corruption, black market, semi-legal schemes for taxes and guys that buy everything if it is in trend. I think it is pretty cool, but still not enough for full common life integration, cause crypto-hipsters don't have enough financial volumes, and illegal world has its own structure, that could increase the volume, but not to the moon. And and seemed like there is no light at the end of tunnel, if bitcoin hasn't started to transform in programmable platform. Recently there was an announcement from FileBazaar And today the new word appeared LApps - applications on lightning. FileBazaar is the first one LApp - in couple of words, it is a platform for digital content, for which authors are paid in bitcoin via the lightning channels. And it is undeniably cool, because recently were invested 1.5m$ in lightning.And it is not a funny project like crypto-kittens. And as you understand, there are no tokens given in exchange for anyone or anything. Those, this is a really considered decision. Bitcoin is almost completed technically, some issues are still remaining, but there is a much strong need in marketing, promoters and sales managers. We need to adapt it for common people, we need contracts for use, paying terminals, possibility to buy everyday products. In this way bitcoin cash has higher rates and possibilities. But today it seems to be almost impossible due to unpredictable laws, and inconvenient transactions. With value storage we also have problems, because different officials and event mass media can drop the bitcoin´s exchange rate, hamsters and dummy investors start panic sell. Centralized exchanges the only place where the rate is established - are under the pressure of whales and big corporations, the real liquidity of the market under big question. Hence we have problems with bitcoin´s usability, hamsters cannot continue provide the fuel for bitcoin, and other population of our planet is still too uneducated in cryptoworld a lot of people still think that it is a kind of pyramid or soap bubble), they cannot understand it and sometimes even hate it. And the new breath of bitcoin is a wonderful way around all these problems - the programmable platform does not let developers to go down (their investment is invaluable), аt the same time, as we noted above, at the levels of closed meetings with the heads of some countries, new economic zones are opened for the further work of firms. Devs have something to work on , companies still receive their benefits, conservative investors can invest in real propety, miners are in safe position also. It could be real the second breath of cryptocurrencies , and much stronger, binance at the state level reveals an economic zone with the size of the country. Lets see what will be on Malta in next couple of years. Let's not forget that bad guys can also help survive the cryptocurrencies. After all, this is a great way to "launder money", from illegal sources, which sinful high officials of all heads of state. So I would not be afraid of special sanctions, because there is someone to resist and fight. And if you say that bitcoin is not so anonymous, then there are still anonymous altcoins, and if there will be a strong need, there will be guys who will sponsor completely anonymous protocols that can be defeated only by disabling the Internet. All in all I think that lightning with proper marketing can give the second breath for bitcoin. What´s your opinion guys?
The stock market in its early days was an iconic financial era that boomed and allowed early enthusiasts an opportunity to be apart of something destined to increase ones financial stabilty. If you were around during these times and took advantage of the early investments, it would be safe to say you have millions, if not billions worth of shares. Some of the largest stock exchanges that circulates many countries finaicial wealth, are NYSE, and NASDAQ. While traditional investors like Warren Buffet see cryptocurrencies as a speculative bubble, they seem to forget that the stock market during it's earlier days when the East Indies was a haven of riches and traded goods through the transportation of ships; it to resembled what critics called cryptocurrency trades now. (WILD WILD WEST). Pirates would steal the commodities off the ships that were used to transport and trade goods. In effort to reduce profit loss, investors began investing in more than one ship. Hence the term " Don't put all your eggs in one basket ". In modern times now, we have electronic trades such as the NASDAQ, but it too can be pirated by hackers. Still, investors like CEO of JP Morgan Chase chooses to keep their wealth within these systems, and continue to buy, sell , and trade shares of many companies. This produces a very lucrative and profitable ecosystem of retaining and circulating fiat currency. It is said that exchanges have even thought of merging with other exchanges. So why would these big stock market whales look at bitcoins as a bubble, and not an opportunity to make a profit. Simply because it decreases the value of what they created, or inherited, invested, and flourished with. Ironically, Bitcoin survives through fiat cash, and altcoins, survive through bitcoins. It would make more sense for stock exchange investors to dabble with cryptocurrncies, which in return will create an even larger financial ecosystem that is not just dependent on one type of financial infrastructure or exchange. Cash to bitcoins, bitcoins to ethereum, ethereum to altcoins, and finally cashing out again for cash. This will create a sustainable. Recyclable cash flow system. Sure, cryptocurrencies need to be regulated and checked so no one power can become a super power. For example what the NASDAQ did with the circuit breaker rule, where as , if the percentage of stock markets dropped really low, the the trading options are halted for a time period. And the government placing IRS tax regulations on citizens. This will only cause some traders to minimize cash outs, and make more long term investments. NOW..... many ICOs will fail, just like the DOT com bubble. And yes you can make a few hundred dollars from ICOs that have no potential future. However, one must really look info the dynamics of the way technology, businesses, supply chain, and financial institutions are looking for a secure and stable way to flourish. I am a crypto trader, but I would not rule out the stock market. People forget that blockchain is the tech behind the cryptocurrncies we hold. So who holds the key to building block chains? Obviously tech companies like IBM, Microsoft etc. SO IT WOULD BE A GOOD TIME TO GET YOUR TECH STOCKS AND SHARES UP BEFORE CRYPTOCURRENCIES REALLY TAKE OFF. You see these companies that invest in blockchain start ups, get a profit from every cryptocurrency platform that uses their tech. Another good imvestement to look into are exchange websites that offer coins. For example, Binance coin BNB, was selling for 1.67 cents in December of 2017, and is now worth almost $20 In January 2018. Similar to the way investors began investing into the stock exchanges that regulated other company shares, people are making profits from investing into an exchange site. One site you can begin investing in now, as it is in its early stages is called BITSHARES and is being sold for just 50 cents. This is a good time to buy, as the exchange site will only grow as will their coins. Lastly, one should invest in companies that are offering something new and innovative. One company that peaked my interest is sirin labs, and their FINNY phone. Look into this, as it will be competing with companies like Apple and Samsung. #ARC20R #Bitcoins #altcoins #binance #bitshares #exchange For more details about quality coins, subscribe and resgister to my site www.richncrypto.enjin.com
After the bubble collapsed, not only was the U.S. housing market affected; the event created a ripple effect that shocked the entire global economy. Silver Lining? From this financial crisis, the original whitepaper for Bitcoin was written in 2009 by an anonymous author, Satoshi Nakamoto. Remember this name it will come back in our next series ... the single, most important fact to comprehend about Bitcoin, Ethereum, Dash or any of the nearly 2,000 “alt-coins” in existence today is that their supply is limited i.e. the amount of ... Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America. Bitcoin’s value does stem from users’ belief in it but, unlike tulips, more cannot be grown to satisfy demand. That said, nothing guarantees that investors won’t see Bitcoin as overvalued in the future, causing its own bubble to burst. Closing thoughts. Bitcoin certainly shares most of the features of a store of value like gold. The ... A Recap on our Previous Discussion Regarding a Bitcoin Credit Bubble. A few weeks ago, we began our discussion on the potential for a massive credit bubble in the Bitcoin economy. In that article we discussed the possibility of a Bitcoin credit bubble arising as a result of margin trading on the various Bitcoin exchanges—a practice that is growing in popularity with the Bitcoin investors and ... The recent bubble was inflated in large part by new Bitcoin buyers jumping on the bandwagon. Those new investors got burned, and many are likely still unwilling to get back in the crypto game for ... However, if one thing is clear in this space, it’s that when Bitcoin goes parabolic, the entire market takes a knee. A sudden spike in the price of Bitcoin could cause massive FOMO amid retail investors, as the one we saw back in December 2017. And while DeFi is far too technical for the average Joe to jump on, Bitcoin is most certainly not ... It is quite common to hear that Bitcoin is another example of a financial bubble. But, connecting the Tulip Mania with Bitcoin fails to account their different asset classes and market circumstances. Our current financial environment is completely different and with far more players than the tulip markets of the 17th century. Moreover, the cryptocurrency markets are quite distinct from the ... This bubble may be very completely different from the 1990s as a result of tech corporations normally generate income and a few are even worthwhile. However valuations are nonetheless uncontrolled, and I would not be stunned if a small disruption sends your complete business decrease.
#Bitcoin #CoinMarketCap #Binance. Category Science & Technology; Show more Show less. Loading... Hide chat Show chat. Advertisement Autoplay When autoplay is enabled, a suggested video will ... Binance CEO makes bold claim about rolling back Bitcoin to save the 7,000 Bitcoin hacked from the exchange. This video explores the reality of this propositi... Live Bitcoin Trading With DeriBot on Deribit DeriBot Backup 293 watching Live now Bitcoin will be worth a MILLION dollars using the KARDASHEV Scale - Duration: 9:26. ТОРГОВАЯ СТРАТЕГИЯ СКАЛЬПИНГ Binance, криптовалюта как торговать, ГЛАВНЫЙ СЕКРЕТ БИРЖИ в скальпинге - Duration: 13:34. My Second Channel: https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA ----- Supp... Binance is an up and coming cryptocurrency exchange with a focus on crypto-to-crypto trading. The platform has started to gain popularity in the blockchain community thanks to its impressive coin ... Thanks for watching! For donations: Bitcoin - 1CpGMM8Ag8gNYL3FffusVqEBUvHyYenTP8 FAKE NEWS: Reports of Binance Delisting Tether (USDT). Bitfinex Releases Statement on Fiat Deposits After Panic Causes Bitcoin-Tether Premium to Hit All-Time-High. Why did the price of Bitcoin ... 09:25 Binance & the Tether Cartel 11:54 Binance is Not Reducing Tether USDT Holdings 13:02 You Can't BS A BS'r: Binance Will Fail 13:48 Stop Using Binance! 14:12 Outro 📺Watch These Videos Again📺 Are Cryptocurrencies in a bubble? In this video, I present my investing strategy as the Bitcoin/Crypto bubble grows and how I plan to cash out before the bubble bursts. By comparing the Crypto ...