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Cookbook for a Down Day

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We got ourselves another buying day folks. Unfortunately, when I was asleep there were some pretty good deals going on. I woke up to find some okay prices, but they went back up to those purgatory prices that weren’t eye popping enough. I wanted to share what I do on days like this to stay on top without having to go crazy about it. Alarms and Limit orders. I will also share a coin that interests me on a day like today.

Alarms

This is a 24/7 market. There are no days off, and the best deals can come at the worst times. For me, they always do. I wake up at 5 a.m. and I am still not ahead on the day. What I do is very simple: go on the Coinbase app and set alerts on all three of the major coins (LTC, ETH, BTC).

The alerts I set are usually in the not-so-crazy downside. For example, my alerts are at $10,999 for BTC, $999 ETH, and $160 LTC. These may not be buying prices, but merely checking prices. At those prices, I want to pick up my phone and check alts. We may have some very big sales going on.

I don’t need to set 50 different alarms, I just need to know what the majors are doing at all times and I will almost be able to predict what an XRP/NEO is doing. If ETH is $999, chances are XRP is near $1.10-$1.20 and NEO is $110-$120 usually. Of course, we are never certain; that’s why we must check.

Limit Orders

For the layman, a limit order is the process of setting a price at which you would like to buy something instead of buying it in the market at whatever price. So, if you want XRP at $1.00 or below, you set an XRP buy limit order of $1.00. Same goes for selling.

These are probably the best tools that are at your disposal. If you have been investing, you’ve probably found a major asset that you like and have been using as your own virtual coin bee hive. For some it’s BTC, and for others  it is ETH. Having a portion of your base currency always tied up in correction limit orders may be a strategy that you could employ to take advantage of the market’s 24/7 nature.

I wake sometimes and my jaw drops at what coins hit when I was asleep. So, what I did was sell when the market was up the other day into ETH, and have my base currency limit orders. ETH hoarding is my specialty. I have the added benefit of doing so, while also maybe getting a fantastic deal that I can either hodl short/long term (I only buy certain coins that I have mentioned) via limit order.

I take great pride in business picking, and I am confident in it. So, I set prices for when good businesses are tanking for no reason. I knew the market was irrational, but not this irrational. I must take advantage.

The Coin

XRP: Ripple will be added to Coinbase at some point in the near future, along with other cryptocurrencies (XMR, DASH, ZEC are also rumored… I will be doing individual write ups on these soon).

I am an ETH and XRP hoarder. I just have to wait for Coinbase to add XRP, and then pop in the ledger and sell it at an exchange that hasn’t collapsed from the amount of buy orders that XRP will cause when it can be bought in fiat. I have prepared for this day like a cowboy would for a bull ride.

This angry bull is going to jump in the air very quickly, and my performance will be measured in seconds, not minutes. I truly believe in the product, and I will be a long term hodler, but I want my money back. I have a cost basis, and I want to replenish it. I suggest everyone does it on major pumps for any coin.

Coinbase had to shut down BCH at $4,000 to save people from themselves. They were apparently getting reads way above $4,000 and got spooked. This confusion would be an exact entry point into Ripple.

XRP being added to Coinbase is still “somehow” a speculation because the exchange came out and said it had no plans to do so. Coinbase needed to handle the insider trading that took place ahead of the BCH launch, and then they would most likely begin taking strides to rounding out the exchange with more currencies. They have handled the BCH deal already.

The worst case scenario is that they don’t add new currencies in the next few months, and even in that scenario I am okay. Angel List has about 10-20 exchanges that have been going full steam ahead, and are all having dinner parties together each and every day that Coinbase doesn’t add any new coins. These folks will come out with apps, they will come out with perks, and they will come out ways to buy that don’t take nine days like they sometimes do with Coinbase.

This market is going through an exponential expansion (bubble). No denying a bubble. The bubble will burst and the project coins will all fall. Who knows when that will happen. During this bubble, no one is safe. Not even exchanges. They must innovate at a 100 MPH pace to keep up with demand or they will get trampled. Mt. Gox is an example of a trampled exchange. XRP is on every fiat exchange’s wish list. They know their exchanges probably can’t even handle the demand, but they want to open the flood gates. Raiden will be on his surf board when this happens.

Oh, and XRP at $1 is something I want to buy. I make sure I buy it down there. Always. Alerts and Limit orders help me never miss it.

Conclusion 

This market is confusing and scared at all hours of the day. Please make sure that you are investing smartly. There is no reason to pay for something when it is 20% up because you think it will go up another 20%. You missed it. There will be another time to get into the coin, and there is always at least 2-3 coins that are attractive at all times. They will rotate in and out, and you must be prepared for when that happens. I don’t claim to have the best system, but this is best one for me. I check prices a TON, but alerts make sure I don’t miss the right times to check. If you aren’t looking at prices all the time, you shouldn’t be making short term trades. People who don’t look at prices rely wholly on people who are. I don’t invest that way.

 

This is NOT a recommendation to buy or sell cryptocurrencies. The orders I talked about are hypothetical, and XRP is nowhere near the levels mentioned. I want you to think about what you are doing, and what your goals are.

Feel free to chat with me @raijincrypto on Twitter, and I have been sending out some of my thoughts during the day.

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 27 rated postsMythological God of Lightning. Cryptocurrency/Blockchain writer, evangelist, and friend. May the odds be ever in our favor.




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Altcoins

60 Minutes Showcases Potential of DNA and Genetic Genealogy; Opportunity for Crypto Investors

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DNA Storage

Throughout the years, 60 Minutes has been responsible for reporting on some of the biggest stories in the world.  Many of the most memorable episodes have involved world leader interviews, stories on endangered animals, profiles of famous celebrities, and occasionally, segments on promising developments in business and science.  A week ago, 60 Minutes had a very interesting report on how the authorities used Genetic genealogy to solve the case of the Golden State Killer, and how the authorities plan to keep using this new field to solve more cold cases in the future.

On April 25, 2018, authorities in Sacramento announced that they had solved the notorious case of the Golden State Killer.  Authorities were able to use a promising new technique called Genetic genealogy to help identify 72-year-old former police officer, Joseph DeAngelo, as the suspected killer.

Genetic Genealogy

Genetic genealogy is a mixture of high-tech DNA analysis, high speed computer technology, and family genealogy.  The end goal is to determine the level and type of genetic relationship between individuals.

In the case of the Golden State Killer, DNA came into play because the killer had committed at least 12 murders, 50 rapes, and many home burglaries.  Investigators were able to obtain DNA from the killer at one of the reported crime scenes.  After many years of frustrating dead ends, a cold case investigator submitted the obtained DNA sample to GEDmatch.  GEDmatch is the largest public genealogy database in the world.  After uploading the sample, authorities were able to generate a handful of leads which eventually led to the front doors of Joseph DeAngelo.

In addition to the Golden State Killer case, authorities have used Genetic genealogy to make arrests in at least 11 other cold cases.  While the science appears to be sound, there is a legal question that has yet to be answered.  There is no doubt that attorneys for the accused will raise the question of privacy and whether using databases, thought to be private, should be legal.

Opportunity for Crypto Investors

While I’ve invested in equities and crypto for many years with varying degrees of success, I’ve never had the opportunity to invest at the beginning of a new frontier.  Fortunately, the opportunity has come.  Encrypgen (DNA) is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data.  This creates a fair marketplace for a person’s DNA that can be stored private and sold (if a person wishes to do that).

Over the past few months, Encrypgen has been gaining attention in the mainstream media because of their revolutionary technology as well as the fact that their closest competition is still years away.

In August, Encrypgen released a beta version of its Gene-Chain.  The Gene-Chain allows consumers to upload their genetic profile and for researchers to purchase that genetic data.  Within the next 2 weeks, the company plans to release the full version of the Gene-Chain which will officially make them a new pioneer in the field of genomic blockchain security.

With the DNA token hovering at approximately 5 cents, the time is running out to accumulate at bargain basement prices.  I fully expect the token to achieve utility in the next several months which will cause a rocket-like explosion in the token price.  There is no looking back now, only forward, and I love what I see.

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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Fantom – The Next Big Thing?

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Fantom (FTM) is a a Directed Acrylic Graph (DAG) based smart contract platform in which the more nodes participate in the network, the greater the transactions per second. The project is aiming for 300,000 transactions per second, which would be applied to multiple industries such as food technology, financial services, telecom, logistics, etc. Fantom is designed to offer instant payments, near zero costs, and unlimited processing scalability. Like Ethereum, Fantom supports Smart Contracts but they run on the Fantom Virtual Machine vs the Ethereum Virtual Machine. Why is that important? Because the FVM will allow developers to write dApps that support smart contracts just like ethereum but run light-speed times faster.

A lot of new blockchain projects talk as if they will challenge the top blockchains and take over their spot. While this is speculation and mostly hot air spoken by many projects, Fantom has a great shot at taking off as one of the top blockchains. Andre Cronje, well respected in the ICO scene as a technical blockchain expert, was added as part of the technical team recently. Having a team and community as strong as Fantom does gives it the extra push needed to take off. While other projects are implementing directed acyclic graphs (DAGs), Fantom is the first to do this with smart contract support.

Fantom operates on a system called OPERA, which is divided into three layers:

  • OPERA CORE LAYER – processes transactions, maintains consensus across all nodes via the Lachesis Protocol
  • OPERA WARE LAYER – supports smart contracts, executes functions
  • OPERA APPLICATION LAYER – supports third-party applications, provides publicly available APIs for dApps

Partnerships with credible companies definitely help the legitimacy of an ICO and Fantom has already made numerous significant partnerships such as the Korea Food-Tech Association and Oracle that will significantly enhance their chance of success. The company, in collaboration with NEM Blockchain, has recently announced it’s expansion outside of Korea into Australia. Fantom has chosen Australia due to their innovative culture and supportive government. Fantom is committed to working with local communities and governments to utilize Fantom technology across multiple industries. They are focused on creating real-time use cases of their platform by on-boarding Australian businesses in the next twelve months. Australia has hundreds of merchants who already accept cryptocurrency including the first airport in the world to do so. Fantom has already been working behind the scenes engaging with payment providers about using Fantom token as they expand globally.

Multiple blockchain projects are claiming to be the fastest with the highest tps, but have not come through on their promises. Fantom has an excellent shot at actually accomplishing this and immediately becoming a major player surpassing those that have fallen short.

Unlike many recent ICOs, which are constantly delaying and postponing the release of their tokens due to current market conditions, Fantom is unlocking and listing on October 29th. The project recently released a recent Technical Whitepaper concerning the Lachesis Consensus Algorithm, making another version of the Technical Whitepaper detailing the Fantom Framework ready, and preparing a testnet demo video to be available soon.

With major funds invested for the long haul and markets such as the USA, China, and Korea unable to participate in the much-hyped ICO, there should be quite a bit of immediate interest and demand upon listing on exchanges. The last ICO with similar hype was QuarkChain which also did amazingly well in this market. Fantom had a hard cap of $39 MILLION at the time of ICO raise and is expected to perform well.

Diclaimer: The author has invested in Fantom.

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 53 rated postsKent Hamilton - Co-Founder of CryptoDayTrader.io, where we are building Pro Crypto Tools




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Why Investors Should Pay Attention to Blocknet

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Even in the “crypto winter” we are currently living in, the blockchain industry is still growing. This is a good thing for the industry in many ways, but all of these various networks have developed in a siloed and separated way.

Some companies have emerged that seek to help the various networks work together and harvest synergies. If blockchain was meant to be a new manifestation of the internet, these networks could be considered a new manifestation of blockchains. One such company is Blocknet.

Blocknet’s Mission

Blocknet is often referred to in the colloquial as “Block” and functions as a decentralized platform-as-a-service service. The basic goal is to connect the nodes of different blockchains to create a network of networks. The endgame here is to make it possible for applications to be developed on one blockchain but be used on another.

The network is composed of three key components: a node exchange, coin exchange, and data exchange. The XBridge is the blockchain router than connects nodes on different blockchains and makes it possible for them to communicate with each other.

The XBridge also enables cross-chain atomic swaps using a coin exchange protocol. We will go into more detail into this in a bit, but it is essentially a DEX. Finally, there is the inter-chain data transport that allows for feature sharing and smart contracts to be executed across chains.

Market Demand

Blocknet was founded in 2015 and finally launched their mainnet in September 2017. The market has been looking for a solution like this. There is competition from other networks like 0x, but they have already started to integrate their networks with Blocknet. By seeking to be a super-network, it is eliminating the idea of competition.

A big part of Blocknet is the decentralized exchange (DEX) that it runs. What makes it special and sets it apart from the competition is that it is more than just an exchange for ERC-20 tokens. It enables the trading of every coin that is integrated into the network.

The Blocknet DEX will be designed to enable an unlimited amount of trading pairs, and will enable complete anonymity for users. Additionally, by avoiding a central entity, you always retain complete control over your funds.

BLOCK Token

The token has two functions. First, they are used to pay trading fees and for the operation of applications on the network. Second, they are required to be staked as a service node or staking node. These are the nodes that distribute trade fees or confirm network transactions.

BLOCK trades on Bittrex, and in terms of recent performance, we have seen a heavy decline from the highs that BLOCK reached last year. However, it seems to have reached a bottom and found a support level. As we head in the last quarter of 2018, it could be time for a recovery, and BLOCK seems poised to take advantage of this.

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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