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So interesting, isn’t it? Yes, we had gigantic hacking of a large exchange & perhaps some ponzi schemes, but overall I think we are sitting pretty! We have more and more banks looking into blockchain, and if you didn’t see it, Robinhood exchange is going to be offering BTC and ETH, with more coins to come. That means you can trade stocks & crypto in the same account. This is the beginning of regulated buying. Robinhood will have to be handing out 1099s on the crypto as well. If they don’t – it will be a public execution by the SEC. Both cases, we are on the major news networks debating it for I would say maybe 3-4 days. Excellent.

The market cap of crypto is sitting at around $550,000,000,000 as of this writing, give or take 10-20b. If we count the fact that significant populations of Asian countries have put their savings (and loans) into it, this market cap is still telling us we aren’t adopted in the way it will eventually be. Bitcoin and Ethereum are becoming household names as more and more people have to weigh in on how things will interact with their business. Stripe getting rid of bitcoin saying it was slow and how to much in fees tells us something.

People are actually using it! They wouldn’t be complaining if this wasn’t becoming a major issue in their business. I deeply encourage you to try to buy an item online or in-person in cryptocurrency. See how the experience goes and try different coins. There will be a difference. I am trying to do this more and more just so that I can see how things work. I love the fact that some of these coins have apps. I have a small amount of WAVES and they have an app! Going to be connecting it soon. The more unique places you put things the better you understand which way is the best.

There is a very distinct need for a unified account for all cryptocurrencies to be stored safely. Oh, hush about your tech friend who can do it for $3,000. I also don’t want it to be an exchange. There have been many different places I have looked into where they just have specific things that they can handle right now. I won’t migrate my business, and I am sure everyone else feels the same, until the wallet can handle literally everything and explain how it is safer. I have cold storage for most things, but I would like to see what someone eventually comes up with for the app/desktop.

I have mentioned on Twitter my love, my sweet love, for Neon wallet. That thing is awesome. Tracks my GAS for me, lets me participate in their ICOs right off the wallet, and overall the design is clean and understandable. The platform apps are just fantastic. You see all this Stellar rumblin’s? Told ya’ so. Look into who is designing coins quickly and efficiently. Stellar launched a gigantic ICO (Mobius) on their platform, and people are beginning to migrate over because of ease of use. I would say that ERC20 tokens will always be in use due to the fact that Ethereum will have scale to upgrade. Their partnerships are broad and their technology is being learned rapidly to catch up with demand.

I don’t want to be in the coin business anymore guys. I don’t want to be in the rapid transfer systems (except XRP pre-coin base WOO WOO) or the privacy coins. That is a bloodbath, and there are too many coins to keep up with. If they have business partnerships, then indeed partake! Make sure the companies are actually using the coin. However, this is where I have decided to trail to another side of the pond. I am interested in smart contract businesses. These are the companies that are actually using the technology.

These are the paintbrushes of Michael Angelo. Each and every day people are coming up with new ways to quantify all of kinds of data so that it can be entered into a contract, and reward those in which the aggregated data specified. If you think of the ways that this can be used, it is infinite. It all depends how quickly the people can come up with the way to expand what can become data for this software to understand.

If there isn’t a business to analyze, just a coin, I don’t know how I am going to get my money back. I want something behind the coin that is ensuring it’s existence that people are using it for. Volume is fantastic, and speculation is fantastic. But those things are slowly becoming less used as more people have margin calls to the 10th degree for all their buys during the rally. We are not equity holders. I don’t really want ownership in rapid transfer systems. You own the road, I am just a car on the road in that situation.

But if a car is just the entry ticket to wanting to get into my smart contract system, then now people have something tangible to judge. Stellar is trying to do that with their ICO, as Mobius was offered only in XLM. Beautiful. Jed up there making beautiful business decisions. More ICOs to come, and I am sure Jed is on board to help whoever wants to help him have storefronts on his road.

Right now I would be foolish to say any names that are a good purchase right now. Bitcoin is at 10-11,000. Purgatory. Absolute Purgatory. I won’t be happy until 13,000 and I barely own any Bitcoin. It’s dominance is up to 35%, and we are slowly starting to see it become more of a storage of value (“Gold”) for people to hold onto and distribute only in rare circumstances. Who takes over is anyone’s guess. I think all should watch in one place, and this is a shout out to Canadians. Your Bitcoin stores. I want to see what happens there. I want to see what other coins they begin to offer, and what happens when people don’t trade in extreme volume in Bitcoin, and rather hold it.

Good luck folks. I would cool off on the trading, as when XRP goes down after two business partnership announcements, I am going to take a knee. I am sure there are opportunities, but the risk scale has gone up a significant amount. $1,000 ETH is troubling. I want $1,200 again before I start to look at things. I am sure by then things will have gone up 20-30%, but I don’t need the downside to that.

This is not financial advice. I have not said to buy or sell any coins whatsoever. I do hope that you enjoyed reading, and I hope it gave you a couple ideas of your own. Do follow me on Twitter @raijincrypto, as during the week I will often share thoughts on certain news pieces. This market is way too fast. Beware of the risks, and be safe.

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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9 Comments

9 Comments

  1. kornyyy

    January 27, 2018 at 5:37 pm

    Im not sure to understand the goal of this text …

    • Haspel

      January 27, 2018 at 7:31 pm

      Me neither. Weird article.

      • darreno

        January 27, 2018 at 10:47 pm

        This Raiden lad is a bit rambly I say. Who is he? Not sure. Kinda unsure what value I’m actually getting for paying for this site..

  2. dopezone

    January 27, 2018 at 8:03 pm

    Things (what might those be?!) are cheap. You might want to think about buying some.

  3. Max Power

    January 27, 2018 at 11:30 pm

    Well this was a manic read

  4. MinerMatt17

    January 27, 2018 at 11:37 pm

    Did a 4th grader write this article? So many random thoughts and a complete lack of flow.

  5. douglash

    January 28, 2018 at 8:28 pm

    Thanks for the reminder of the importance of consistently taking ones meds.

  6. cfussy25

    January 28, 2018 at 8:58 pm

    The author has a bit of a different style for sure, but I don’t see anything wrong with that. I’d say this is more of a blog type post than an article however and maybe should be categorized as such. But I’ve personally enjoyed the authors’ rumblings.

  7. eocc12

    January 28, 2018 at 9:37 pm

    I can go to r/cryptocurrency and get one of the moonbois there to write a better piece than this. Really not worth a membership.

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Altcoins

Ravencoin (RVN) Arrives With 118% Weekly Growth Ahead of Mainnet Launch

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Ravencoin (RVN) made its entry into the market cap top one-hundred on Sunday, propelled by a Binance listing, and 118% sustained growth over the course of the week.

Trade volumes for the asset-creation coin hit all-time highs on Thursday, rising an incredible 23,000% from $212,000 to $49 million within the space of ten days.

Ravencoin has been around since 2017, and the upcoming mainnet launch on October 31st marks the one year anniversary of the coin’s creation. It also marks the ten year anniversary of the release of the Bitcoin whitepaper by Satoshi Nakamoto.

RVN Rising

Ravencoin was going relatively unnoticed until it gained a Binance listing on October 11th. As you can see from the chart below, the Binance listing completely changed the coin’s fortunes.

Indeed, if we look at the source of today’s $49 million worth of trades we see that Binance has housed just under 85% of the total.

In the past week the coin rose 118% in value, climbing from $0.017300 up to Sunday’s peak of $0.037732. Since the date of the Binance listing the coin is up 172% in value, and finds itself among the market cap top-eighty.

What Is Ravencoin?

The Ravencoin protocol is open-source and available to the public, and focuses on the creation of digital assets on its Proof-of-Work (PoW) blockchain.

The blockchain itself is secured by sixteen different hashing algorithms, all of which are rotated on a non-patterned basis. The algorithm changes depending on the final digits in the preceding block hash, making it impossible to predict by ASIC mining machines.

As stated in the initial release notes last year:

“The core developers are currently focused on building the asset layer which will allow Ravencoin to facilitate the transfer of assets.  There is a hard-fork planned for the network to implement this additional asset layer in around October/November 2018 time frame.”

The devs appear to have held true to that time frame, and the mainnet upgrade is expected to go ahead as planned on October 31st.

The release notes state that no premine was used, nor are there any developer rewards. The blockchain is intended to be a Bitcoin for digital asset creation, and according to the official documentation:

“Assets can come in a variety of types, such as financial instruments such as security tokens/stocks/bonds/deeds/etc as well as gaming items (ex. a sword)/conventional asset management/managing  distributions for co-ops/digital art. There are a lot of real-world applications that this blockchain is intended to disrupt and improve.”

More can be read about the coin’s unique hashing algorithm, known as X16R, in the dedicated whitepaper provided in the Ravencoin release.

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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4.4 stars on average, based on 81 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

Minor Bounce Lifts Crypto Market Cap Above $211 Billion; Tether Circulation Plummets

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Crypto prices traded modestly higher on Sunday, as bitcoin regained its footing above $6,500 and major altcoins avoided further losses.

Market Update

The cryptocurrency market capitalization on Sunday peaked at $212 billion, the highest in five days. At the time of writing, the market was valued at $211.5 billion.

Most assets ranked in the top-20 had reported minor gains over the last 24 hours, a period marked by lower trade volumes. The bitcoin price has returned above $6,500 on trade volumes of just $3.2 billion. The leading digital currency continues to trade at a premium on Bitfinex.

Meanwhile, Ethereum rose half a percent to $206. XRP also climbed 0.5% to $0.459. Bitcoin cash was last seen trading above $449 for a gain of 1.6%.

Stellar XLM was the only top-ten coin not to report gains at the time of writing. However, the no. 6 coin by market cap has returned more than 13% over the past week, far outpacing the broader market.

Trade volumes have declined steadily over the past week, as markets re-balanced following a sudden spike on Oct. 15. Digital exchange volumes have fallen to $9.7 billion on Sunday, according to CoinMarketCap.

Tether Market Cap Plunges

Since the start of October, Tether has pulled more than $600 million worth of USDT out of circulation, leading to a sharp drop in the stablecoin’s market cap. Cryptocurrency exchange Bitfinex, which is run by the same executive in charge of Tether Limited, appears to be leading in the offload of USDT tokens. As CCN recently reported, Bitfinex has initiated six transfers of USDT funds to the Tether Treasury this month. The latest transfer was initiated on Wednesday when Bitfinex sent 50 million USDT to the Treasury.

Most of the outflows from Bitfinex occurred long before USDT lost its peg to the dollar in a single-day crash on Oct. 15. USDT briefly fell below $0.90 that day before quickly recovering around $0.94. Currently, one USDT is equivalent to $0.984 U.S., according to CoinMarketCap. Some exchanges are quoting USDT as low as $0.96 on Sunday.

The sudden decline in Tether’s circulation comes at a time when the company is facing heightened scrutiny over its dollar-backed reserves. An influx of alternative stablecoins offering greater transparency and regulatory oversight may also be undercutting demand for USDT.

Case in point: the Gemini Exchange’s GUSD stablecoin reached a high of $1.19 on Tuesday before settling around parity against the dollar. Unlike USDT, the Gemini Dollar has obtained regulatory approval from the New York Department of Financial Services. On the opposite side of the spectrum, Tether has been subpoenaed by federal regulators over its connection with Bitfinex and failure to prove its dollar reserves.

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 648 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Altcoins

TRON (TRX) Transactions Outnumber Ethereum’s Thanks to TRONbet Gambling App

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For the past year much of Justin Sun’s time was spent trash-talking Ethereum on Twitter, while talking up the future potential of his own TRON blockchain.

Such behaviour once made it easy to dismiss Sun as a mere troll, however it now looks like TRX might actually be gearing up to do battle with ETH based on its rapidly growing number of users and transactions.

TRX Transactions Soar

The amount of transactions on the TRON blockchain outnumbered that of Ethereum for the first time ever this week. In the three day period between Oct 18th and Oct 20th, TRX transactions outpaced their ETH counterparts by several tens of thousands.

The sudden jump in transactions comes in large part from the recently launched TRON-based gambling app, TRONbet. According to Sunday morning’s tweet from the TRONbet team:

“Amazing start for #TRON with http://tronbet.io doing almost 180k Txs a day! Almost 30% of all Txs! 165,000,000 $trx won by users. @justinsuntron @Tronfoundation has shown us the endless possibilities!”

The 180,000 transactions mentioned helped to boost total TRX transactions from 222,000 on October 17th, up to Friday’s peak of 630,000. Going back to October 10th, the total number of TRX transactions was in the 80,000 range, meaning the last ten days have seen a 687% increase to transaction volume.

Justin Sun marked the occasion with a celebratory tweet, stating:

“Ethereum has 82,418 Txs pending today. It is the second day that #TRON has surpassed #ETH in daily Txs. 10/18 #TRX 599,677 vs. ETH 565,971; 10/19 $TRX 630,018 vs. ETH 601,119. All ETH developers need to migrate to TRON immediately with 0 cost!”

Smart Contracts

One can only speculate on where the rest of the TRON transactions came from, but according to TRXPLORER.io, the vast majority of them were triggered by smart contracts:

“Yesterday we had the highest spike of transactions on #TRON network with almost 600k transactions in a day! 77% of those transactions were Smart Contracts that were triggered!”

To provide some perspective, it took the TRON blockchain four months to achieve the number of transactions that Ethereum achieved in nearly three and a half years.

A skeptic may demand to know exactly where these transactions are coming from, after all, even Ethereum has seen huge increases to transaction volumes thanks purely to pointless smart contracts which move the same funds between multiple addresses.

As covered here previously, October has been a productive month for TRON. The number of accounts created on the blockchain recently outpaced EOS, gaining 100,000 more new accounts than EOS in the previous four month period.

Meanwhile, a quick glance at Google Trend analysis for ‘TRON’ searches compared to ‘Ethereum’ reveals that TRON is being searched for more than its older counterpart.

The chart shows the same pattern for ‘TRX’ searches compared to ‘ETH’.

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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4.4 stars on average, based on 81 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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Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

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