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Behind the Coin: NoLimitCoin – The Best of Both Worlds

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After looking at altcoins daily for months, I have noticed that a lot of coins either have a great product and average token economics, or great token metrics/economics and an average product. In the case of NoLimitCoin (NLC2), they have both. Their product is called No Limit Fantasy Sports.

Let’s look at NoLimitCoin’s product, a fantasy sports platform that allows users to participate using cryptocurrency as well as fiat currency. Fantasy football alone is estimated to be worth more than $7 billion a year in the U.S. and Canada in 2017. The No Limit Fantasy Sports platform will include NFL football, soccer, hockey, basketball, baseball, MMA and cricket.

Having partnered with some of the most influential figures in sports such as Joe Theismann, a former NFL Super Bowl champion, and Johnny Chan, a legend in the poker world, NoLimitCoin offers fantasy sports to crypto enthusiasts and sports fans alike. You can see Joe Theismann’s influence promoting NLC2 here in this video. Together with Johnny Chan NoLimitCoin will start approaching different gaming platforms to use NLC2 as a currency, including several poker sites. NoLimitCoin will also be recording a video commercial with Johnny Chan in both English and Chinese to promote its coin to a global market.

While many altcoins are struggling to release their first beta product, NoLimitCoin already has a working platform. Users can participate in the No Limit Fantasy Sports platform using regular currency or NoLimitCoin. This is a unique feature that NLC2 has over almost all other cryptocurrencies out there. Only a very select few coins offer their users the ability to purchase NLC2 of the exchanges via credit card. NLC2 will close the major gap which many average Joe’s and crypto enthusiast have to enter this market by adding this simple credit card payment via Visa and Mastercard. Moreover, No Limit Fantasy Sports charges up to 50% fewer fees than its competitors.

NoLimitCoin rewards users for holding coins in their wallet. This is known as staking a coin. The current rate is 4% extra NLC2 tokens per year just for holding tokens in your NLC2 wallet.

CryptoFantasySports.com has been released into production and it looks amazing. The field view option is something unique in fantasy sports. Here is how it looks:

Now, let’s take a look at the current value of the NLC2 token. With a current market cap of nearly $27 million, this token seems undervalued when comparing to other altcoins that have reached this level of maturity. The current valuation based on our research puts NLC2 in the $70-$90 million range. One main issue holding back NLC2 is the lack of liquidity by being listed on mainly smaller exchanges. There is a rumor that NLC2 may be added to a large exchange soon, but that information cannot be disclosed based on exchange NDAs. There are a lot of altcoins in the top 50-100 that don’t even have a working product. NoLimitCoin has a working product, a passionate and strong community at http://slack.nolimitcoin.org/, and is releasing new features on a regular basis.

No Limit Fantasy Sports platform accepts payment in the form of regular currency via credit cards, Bitcoin and Alipay. Alipay, as of 2017 has approximately 450 million registered users and is China’s top mobile payment service. Users of No Limit Fantasy Sports will soon be able to pay with Litecoin, Bitcoin Cash, and Ethereum.

Having talked with the team directly, I learned that NoLimitCoin is planning to do a unique update to its platform to help bring Fantasy Sports to the crypto world in a unique way. Behind the Coin, updates will be written as soon as these big announcements are communicated so that you will be the first to know.

Disclaimer: Author holds no investment position in NoLimitCoin at this time.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 43 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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Altcoins

Calm Prevails in Crypto World as Bitcoin Runs Up Against Resistance

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Cryptocurrencies resumed their rangebound trading Thursday, as bitcoin’s relief rally showed signs of stalling while Ethereum and the major altcoins were held to break-even.

Market Update

The combined value of all coins and tokens in circulation is $287 billion, virtually unchanged from the overnight hours.

Bitcoin touched a session high of $6,790.25 but was unable to extend its rally past $6,800. The bulls have been rejected at this level on at least three occasions since Tuesday, a sign the relief rally was losing steam.

The largest cryptocurrency by market cap bottomed around $6,133 on June 13. At the time, the short-term technical indicators supported a further breakdown in price, with $5,900 seen as the next likely target.

Ethereum prices were up a mere 1% Thursday to $534. ETH/USD values reached an earlier high of $542.74, which was not unlike the high from Tuesday.

The major altcoins ranked between nos. 3 and 10 by market cap were virtually unchanged compared with 24 hours ago.

Digital currency prices have shown remarkable progress in terms of stability, as total market values fluctuated within a $4 billion range through the overnight session. Twenty-four hour trade volumes have held just above $12 billion, according to CoinMarketCap.

Bithumb fell to the no. 9 spot based on total volume after the exchange shut down deposits and withdrawals in the wake of a $31 million cyber heist. The exchange has processed $181 million worth of cryptocurrency trades since early Wednesday, which is roughly half of the previous day’s turnover.

In Search of Direction

While cryptocurrencies have exhibited rare price stability over the past nine days, it is too premature to conclude that the bears have relinquished control of the market. The total market is down a whopping 38% from the April swing high and volumes have declined by more than half over that period.

With the exception of the recent attacks on South Korean exchanges, the latest crypto headlines have been mostly positive. If they can be summed up in one theme, it would likely be the growing institutional interest in cryptocurrency.

The San Francisco-based Coinbase exchange has been leading in that capacity by announcing the arrival of crypto custodial services. Goldman Sachs-backed Circle and BitGo are also in negotiation with regulators about launching similar services. Meanwhile, Wall Street custodians JPMorgan Chase & Co and Bank of New York Mellon Corp are reportedly working on custody services that could facilitate digital currency transactions.

While promising, these developments alone won’t be enough to generate the next crypto bull market. For institutional capital to be the driving force of the next major market uptrend, actual custodial services and not merely the promise of them must be deployed.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 461 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Altcoins

Basic Attention Token Up 40% Over 7 Days

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Basic Attention Token (BAT) has recorded 16% growth in the past 24 hours, which adds to the total 40% gains made in the last week.

This time last week BAT was trading at a three month low of $0.19. The sudden spike in the last 24 hours combined with steady growth throughout the week has seen it recover to its pre-June crash price of $0.28.

Few coins or tokens in the Top-100 market cap rankings have recovered to their pre-’Sunday Bloody Sunday’ levels, but BAT is one of them.

BAT’s recent surge has seen it break into the Top-50, and the source of its rise shouldn’t be too hard to pinpoint.

Brave Browser Launch

A new web-browser was launched yesterday by the creator of Javascript and the co-founders of Mozilla Firefox.

The Brave browser is fitted to work directly with the Basic Attention Token, and rewards users for viewing targeted advertisements. Viewers of the ads are compensated for their ‘attention’, and are rewarded in BAT tokens.

The recent launch is undoubtedly related to the token’s strong performance over the past week, as curious denizens of the internet rush to see just how much money they can make for doing what they normally do – browsing the web.

As it stands, the end user actually ends up paying to be advertised to. Think about the bandwidth and computing resources required by advertisements. While that number may be small on any given page, it will soon amount to a huge chunk of your resources when accumulated over many web pages over many days.

With BAT, the user gets paid for their time and attention, and thus evens out the playing field as far as advertisers and consumers are concerned.

Fair Play

Co-founder of Firefox, and creator of Javascript, Brendan Eich, emphasized the fairness aspect, with the Brave/BAT combination threatening to upend the existing advertising paradigm. Eich was quoted as saying:

“The user deserves a share because their attention is being used up a little bit by ads. We’re working on better advertising that is truly private.”

Eich continued:

“The BAT is the token for re-monetizing the user’s attention, including the user in a fair play system. (BAT) is what denominates attention in the sense of user engagement in a way that is not likely to be abused and rewards the users.”

As good as all of this sounds, the jury is anything but out on Basic Attention Token. The ICO may have raised $35 million in just 30 seconds, but if the latest reports are anything to go by, the rewards that a person gains from focusing their attention on the ads do not amount to much.

Undoubtedly this will change if the platform gains adoption in higher numbers. Before BAT can push any higher up the rankings, it will need to show businesses why they should bother to advertise using BAT, and it will need to incentivize end-users to engage with the platform to a greater extent.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 11 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Altcoins

Crypto Real Estate: The Time Is Now

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If you’re a Russian oligarch, an Asian billionaire or just a simple kid from South Jersey with giant aspirations, it is time for action in the newly emerging world of crypto real estate.  Here is why.

For the average home buyer the price of a home has increased about 1.72% annually over the past 10 years.  That is just slightly more than the 1.49% rate for the U.S. economy. Things have changed somewhat in recent time and we read Case Shiller numbers placing the rate between 5%-7%.

For investors in bitcoin, the action is taking place elsewhere in the real estate world.  It is in the world of the super high-end real estate where BTC and other cryptos can play a role.

If your soul contains an ounce of cynicism, at this point,  you are probably saying what is new about the connection between crypto and real estate?  The answer is arbitrage. Never have high-end property prices been so high and crypto prices so low.  It would be a classic arbitrage to sell high-end real estate and buy bitcoin.

Natural Buyers For Bitcoin

There are plenty of statistics on housing and loads of public records revealing who owns a given piece of property.  The US government claims that 9.6 million Americans own second homes and perhaps 16% own investment property.

But when it comes to the true high-end market, global real estate is definitely in the billions. For example, take penthouse in 432 Park Ave in New York that, when new, sold for over $100 million in cash and you get the idea.  This is a market where anonymity is prized and protected. This has long represented the “no brainer” for bitcoin to gain acceptance. And best of all, it is perfectly legal medium of exchange.

Enter Propy (PRO)

Here is a company that appears to be positioned to take advantage of transactions in the global ultra high-end real estate market. Before getting started, one thing needs to be disclosed.  I neither own or am being compensated for writing about Propy. I stumbled across the name purely by accident.

Propy.com fancies itself as being dedicated to solving the complexities of purchasing property across borders.  They claim to be the world’s first international marketplace. The PRO token is built on the Ethereum ERC20 standard. Propy raised $15.4 million with their ICO last September which places a value on the company of roundly $100 million.

So PRO may not rank with the likes of Telegram but they are not exactly chopped liver either. With the spread between the price of ultra high-end real estate and bitcoin never having been greater and the perpetual need for anonymity, the team at PRO may find itself in a sweet spot no matter if the like it or not.

The First Crypto Test In Rome On June 28

CCN.com reports that PRO has managed to team up with the Hilton family-owned real estate broker Hilton & Hyland in an auction of a Roman villa named the Palazetto Mansion aiming to snatch $38 million in dollars or crypto from the buyer.  This is not first effort of its kind but it is by far the largest.

Arbitrage In The Air

Events in Rome on June 28 will be most interesting as much for bitcoin as for PRO.  This is not to say that bitcoin is the only crypto in the world, just the largest and best known. Nevertheless, the total value of bitcoin is now just a little over $114 billion so every billion of future real estate transactions will make a difference at these levels.

Perhaps this is all wishful thinking on the part of someone who owns neither PRO nor BTC but several things are obvious.  First, those folks that put their hidden billions in real estate using corporate identities are not casual investors but savvy players with lots of high priced advisors.  Arbitrage spreads between ultra high end real estate and crypto present a pretty irresistible attraction. Just something to consider when investor psychology toward crypto in general stinks.  

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 82 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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