Connect with us

Cryptocurrencies

Good News and Low Prices

Published

on

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.

// -- Discuss and ask questions in our community on Workplace.

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.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
36 votes, average: 3.42 out of 536 votes, average: 3.42 out of 536 votes, average: 3.42 out of 536 votes, average: 3.42 out of 536 votes, average: 3.42 out of 5 (36 votes, average: 3.42 out of 5)
You need to be a registered member to rate this.
Loading...

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.




Feedback or Requests?

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.

You must be logged in to post a comment Login

Leave a Reply

Analysis

What Is Po.et?

Published

on

There are now so many alt-coins out there that it’s almost impossible to keep track of which projects are legitimate and which are garbage.

// -- Discuss and ask questions in our community on Workplace.

This article is the first entry in a series I will write for Hacked which will give summaries and context around a specific crypto project.

The topic of today’s summary is Po.et.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

So what is Po.et?

Essentially, Po.et is a universal ledger built off of the Ethereum Blockchain that intends to track attribution and ownership for the world’s digital creative assets.

In the digital age, all it takes is one click to copy someone else’s picture, video, paragraph, or song, and repost it as your own. The thief then reaps the monetary benefits of someone else’s work while the creator gets nothing.

Even if artists or journalists wanted to license their work properly, the current methods are highly labor-intensive and generally aren’t worth the time and effort spent.

Po.et wants to digitally timestamp content and be utilized as the main source of what content is licensed by who and when they were licensed.

Po.et utilizes this via something they dub, “Proof of Existence”, which they describe as the first non-financial application of the blockchain.

If I were to upload a media file or essay to the Po.et platform, the file is given a unique digital “fingerprint” that can’t be altered given the immutability of the ledger.

While a useful implementation of blockchain technology, the real value that Po.et offers is that there is no barrier to the licensing information itself. All of it is public and viewable by anyone without having to spend any money or tokens.

Po.et also wants to be a platform for content to get discovered.

Creators can create their own decentralized marketplaces that use POE tokens to upload and rate content. In order to add content to a specific marketplace, a creator must stake a certain amount of POE tokens. If the users of the marketplace don’t feel that the content belongs there, they will reject it and confiscate the staked coins.

Each marketplace determines their own voting terms requirements and amount of POE that new content contributors must stake to join. The more quality content in a given marketplace, the more valuable the marketplace will become.

In theory, this incentivizes members to only accept quality, relevant submissions and reject content that does not fit.

The process of staking is supposed to act as a self-selecting mechanism for individual markets. For example, in a marketplace for cat pictures, adding a dog picture would get my staked coins confiscated, disincentivizing me from trying to add it there in the first place.

But what if the first time a piece of content is submitted to Po.et is by someone who has plagiarized it?

Po.et gives users the ability to “challenge” the submission. Using the unique fingerprints assigned to each document, members can vote to accept or reject a challenge. If the challenge is approved by the majority of the members of a given marketplace, the new content is removed from the marketplace.

The Po.et team describes the use of POE tokens as follows:

  1.  To bootstrap the network effects of Po.et by creating a community of engaged invested stakeholders and publishers
  2. To raise funds for the long-term development of the Po.et Foundation
  3. To provide a mechanism to incentivize and reward early adopters and positive contributions to the Po.et network

The founder’s argument is that POE tokens will serve as the economic incentive behind Po.et’s need to promote quality, curated content on their trustless platform.

The team minted a total of 3,141,592,653 POE during their ICO in August 2017. The team sold 50% to the community through a token sale event, raising a total of $10 million USD.

The rest of the token allocations were as follows:

  • 8% Founding Team
  • 10% Angel Investors
  • 10% Integration Partners
  • 22% Foundation
  • 50% Token Sale

The Po.et team currently has 10 core members, who include CEO Jarrod Dicker.

Having Dicker as a CEO is impressive given that he previously served as the president of innovation and commercial strategy at The Washington Post. As such, it stands to reason that he is extremely well versed in the issues plaguing the licensing of media content.

The development of Po.et has been separated into three phases by their team. These are as follows:

1. The Rosetta Era

The Rosetta Era began in June 2017. During this period, Po.et released their ICO and raised $10 million dollars from the token sale. They used these funds as their seed round and were thus able to launch their public test net and integrate their first publishers onto the platform. WordPress users were officially able to timestamp and keep an updated log of all of their written work.

2. The Guttenberg Era

This is the era the project is currently in. According to their roadmap, Po.et will unveil their licensing marketplace in the upcoming months. This marketplace will supposedly integrate 20+ established publishers and allow creators to begin hosting their written content.

As well as facilitating discovery, the marketplaces will also accommodate creative licenses and allow for payments to content creators through what they describe as frictionless payment channels.

3. The Alexandria Era

The final era of development for the platform will be open to all interested users and begin supporting images and videos in the marketplace.

The current value of POE tokens is hovering about $0.03 cents.

Given that the team is led by an absurdly overqualified CEO, and that the team has already reached multiple successful development milestones on time, my analysis is that Po.et is a sleeping giant.

They solve a very specific problem that the leaders of the project have tons of professional experience dealing with in their prior careers.

Po.et could be a great token to hold long-term in anticipation of the platform being fleshed out. As always, I encourage readers to exercise caution and do their own due diligence on a project.

In the future, I will write a guide on how to properly allocate an altcoin portfolio but for now, I would recommend putting in no more than $200-$400 for small accounts (as part of a diversified portfolio), or $500-$1000 for larger accounts.

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
1 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 5 (1 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

5 stars on average, based on 6 rated posts




Feedback or Requests?

Continue Reading

Analysis

Crypto Update: Ethereum Back Above $700 as Coins Rise but Buy Signals Still Lacking

Published

on

The major cryptocurrencies are all sporting gins today, with Ethereum, EOS, Stellar, and Monero leading the way higher percentage-wise. Despite the rally, the short-term technical setup is unchanged in most cases, with the top coins still on neutral trend signals, and with no buy signals having been triggered just yet.

// -- Discuss and ask questions in our community on Workplace.

From a technical standpoint, Ethereum is still clearly the coin to watch, as the price of the ETH token rose back above $700 today, showing relative strength yet again, getting close to a short-term buy signal.  While a signal is not confirmed yet, a break out from the bullish corrective pattern could be near.

ETH/USD, 4-Hour Chart Analysis

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

The coin faces strong resistance between $735 and $780, with targets above that at $845 and $900, while support is found between $625 and $645 and between $555 and $575. We still advise traders to wait before entering new positions here, even as the correction lows are likely in.

BTC/USD, 4-Hour Chart Analysis

Bitcoin is still stuck below the key $8400-$8700 zone after it hit another marginal new correction low near $7900. Although BTC is not a buy signal, the downside momentum is fading and the coin could be close to a breakout of the correction pattern, despite its recent relative weakness. Strong support is still found between $7650 and $7800, while resistance is ahead between $9000 and $9200, $10,000, and $10,500.

New Leadership yet to Form

IOT/USD, 4-Hour Chart Analysis

While the leaders of the April rally are trading consistently with an ongoing uptrend, for now, there are no standout performers spearheading the rally among the majors. EOS is still holding up above the $12 while the other prior leader IOTA is also trading above key support at $1.7 but without clear bullish momentum. Should the coin move above the $1.9 resistance, the short-term trend signal would switch to buy, but as of now, the corrective pattern is intact.

As the long-term charts are looking more constructive after the pullback, long-term investors could soon be looking for entry points,  while traders could also get buy singles in the coming days.

Featured image from Shutterstock

Disclaimer:  The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
3 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 5 (3 votes, average: 4.67 out of 5)
You need to be a registered member to rate this.
Loading...

4.5 stars on average, based on 253 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




Feedback or Requests?

Continue Reading

Analysis

Long-Term Cryptocurrency Analysis: Bitcoin Remains Under Pressure as Divergence Deepens

Published

on

The segment has been drifting lower in a choppy fashion ever since our latest look at the long-term charts and the two-faced nature of the market is still apparent. Bitcoin and the other relatively weak majors, like Litecoin, Monero, Dash, and NEO are clearly lagging the leaders from a technical standpoint, while Ethereum is still the most positive out of the largest coins.

// -- Discuss and ask questions in our community on Workplace.

The leaders of the rally are still holding up above the crucial support levels, keeping the recovery intact but as the overbought long-term readings are mostly cleared, the coins should start to show signs of bottoming soon. For now, we advise traders and investors to remain on the sidelines in the case of the majority of the coins until the short- and long-term time frames show conflicting trends.

BTC/USD, Daily Chart Analysis

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Bitcoin didn’t reach a severely overbought momentum reading as the move above $10,000 failed, and the coin started a correction off that level and dropped below the $8400 support in the process. The short-term corrective pattern is intact, while the long-term MACD is in neutral territory again.  Key long-term support is found just above $7650 and in the $6150-$6250 zone while further resistance is ahead between $9000 and $9200 and near $10,000.

ETH/USD, Daily Chart Analysis

Ethereum is holding up above the $625-$625 support zone, within a short-term correction pattern, while the long-term momentum indicators are still above neutral territory. The trend signals are neutral in case of the second largest coin, and traders and investors should wait before entering new positions. Resistance zones are ahead between $735 and $780 and near $845, while support is found between $555 and $575.

(more…)

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
7 votes, average: 5.00 out of 57 votes, average: 5.00 out of 57 votes, average: 5.00 out of 57 votes, average: 5.00 out of 57 votes, average: 5.00 out of 5 (7 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.5 stars on average, based on 253 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




Feedback or Requests?

Continue Reading

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

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.

Trending