Connect with us

Analysis

ICO Analysis: Social (Nexus)

Published

on

Reader, be suspicious of anything that tells you it will establish a “new social network.” The establishment of social networks is semi-organic and requires a massive effort. Have a look at Minds.com, which is a great idea that integrates Bitcoin for promotion. It’s still growing. The author has been there from the beginning. So don’t take this statement the wrong way – the author would love to see the social network monopolies of Twitter and Facebook broken, he just isn’t overly confident that it will happen anytime soon, and here are presented with an investment that hinges on the building of a social network.

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

That just seems like a bad idea off the top, though we’ll look a little further into it. Any social networking play would involve integrating with existing social networks. That would be the way to approach such a thing.

Nexus Overview

Nexus is a new generation of social network. All data and uploads will exist on the blockchain instead of centralized servers. Nexus is a feature rich platform that allows you to communicate with friends and family in multiple different and unique ways, while providing state-of-the-art security and privacy.

This all sounds great, but none of it means it will take off. You need tens of millions to even begin to compete with any other social networking effort.

It doesn’t matter if you decentralize the data. It doesn’t matter what you do. To build a social network, you need a social magnet. You need a lot of things that Facebook doesn’t have. People may post on Facebook that they are concerned about being monitored and their data not being private, but it’s not the case that they will necessarily leave the social network right away.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Did you know an alternative software to Twitter has existed for the entire time that Twitter has existed? The software that Identi.ca is based on is open source – anyone can implement it. For that purpose, it’s decentralized. The networks can be integrated through Oauth and other means. It’s really incredible by comparison to Twitter, especially for businesses that want to operate social networks – but as it turns out, the network effect is real in social networking. To build a social network, you need a lot. A lot more than a great idea. A lot more than good technology.

MySpace allowed anyone to create a page, make it look however they wanted, and display music. This was great. Facebook came along and took all of these features away – and still flourished. Facebook focused on being exclusive at first, which expanded its network effect, which is an ironic reality.

By decentralizing and encrypting all data and uploads, Nexus hopes to eliminate all invasion of privacy that large corporations are currently performing. End-to-endmessageencryption ensures only you and the person you’re communicating with can read what is sent, and nobody in between, not even Nexus. Imagine a full decentralized social network where all data and multimedia is stored on the blockchain instead of centralized servers.

Again, this sounds great, but for all intents and purposes – no one actually cares. People want to be where they can be accessed. LinkedIn has managed to flourish as a place to find people in business, and yet the new generation are largely dispensing with it. It would have made more sense for LinkedIn to have released the equivalent of Workplace, but Facebook beat them to that, too. Facebook may not have an eternal grip on social marketing, but it presents a tremendous obstacle to anyone trying to build alternatives. Minds.com, again, is a great alternative to other social media platforms – people have to pay for the privilege to get their posts out there, and there’s an internal currency which manages to integrate Bitcoin. It’s a great project as well, but it will be a long time before it is large enough to matter. This is the simple reality of the matter. ‘

Social Token

The token sale for this ICO is ongoing. The token will have a purpose, to be used on the platform for advertising and the purchase of goods and services. This is enticing on the face – at least they’re forcing the use of the token for something. But overall, who cares, really? We have to depend on them to build a massive social network, and this much seems unlikely. You can build all the buzz around the thing you want, although they haven’t, really.

One thing you can say for them is that they are doing the right thing with the tokens they are issuing, which there will be a maximum of 50 million. Out of those, 47.5 million will be for sale to the general public. It would be nice if more profitable, better ideas would also do similar with their tokens. Retaining tokens from the public while at the same time profiting during an ICO handsomely is strictly a red flag. It makes one wonder what ICOs intend to do with those tokens. So it’s a plus to see that they’re not doing that here, but again, this thing is probably going nowhere due to its actual mission.

The Verdict

We don’t see any future in things which want our money to start competitors to well-established social networks.

Risk

Such a prospect as building a successful social network can take decades to achieve. -4

Growth Potential

For short-term investments, it’s nice to see so many tokens being put on the market. This is unusual and should not be under-credited – +4.5.

Disposition

We reach a numerical disposition of .5 on this token. We figure if you do invest, you’d better dump quickly.

Investment Details

The ICO for the Nexus social tokens is ongoing. Visit https://ico.nexus.social/. Currently, they are offering a 40% bonus (another red flag) – 700 tokens per Ether. Please invest with caution.

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

5 stars on average, based on 1 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




Feedback or Requests?

1 Comment

1 Comment

  1. coinsoncoins

    August 19, 2017 at 7:14 pm

    great article

You must be logged in to post a comment Login

Leave a Reply

Analysis

Daily Analysis: No Questions Answered

Published

on

Thursday Market Recap

Asset Current Value Daily Change
S&P 500 2718 0.97%
DAX 12,468 0.31%
WTI Crude Oil 62.61 2.02%
GOLD 1332.00 0.52%
Bitcoin 9780 -8.00%
EUR/USD 1.2324 0.26%

It was a strange day indeed in equity markets, with mixed signals popping up across the board after yesterday’s crazy quasi-FED day. An ugly overnight session, followed by a strong pre-market rally, an early-day pump, and a late-day dump. That is the summary of the day, but under the surface, there is a real struggle between market forces, with still an edge for bears in the battle for control.

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

NASDAQ 100 Futures, 4-Hour Chart Analysis

It seems that the Nasdaq is still the key, as the relative strength of the tech benchmark is the most reliable gauge of the market direction, at least regarding the intraday trends. That said, at the end of the day, the Nasdaq closed in the red 4 times in a row, at least as far as the normal trading day is concerned, and still, the major indices are trading not far off last Friday’s top, despite the downward drift.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Forex Markets and Commodities

Adding to the confusion, the Dollar corrected lower after a positive period, and with Treasury yields trading all over the place, investors were left scratching their heads yet again. The Japanese Yen was the clear winner of the day among currencies, as the primary safe-haven got bid heavily during the Asian session, and it remained throughout the up-and-downs of the day, despite the strong bounce in stocks and risk-on currencies.

USD/JPY, 4-Hour Chart Analysis

The EUR/USD pair had a very active and volatile session, but the common currency remained above the lows from two weeks ago, while also halting below yesterday’s highs, so all-in-all, no technical conclusion to draw. As in stocks, the next clear directional day will be crucial, as the tug of war is getting tenser and tenser.

EUR/USD, 4-Hour Chart Analysis

The Canadian Dollar plummeted during the day, thanks to the dismal Retail Sales figures, but it finished well off its lows, boosted by the stock recovery and the jump in the price of crude oil. The Black Gold was pushed higher by the surprisingly bullish US inventory data, and the WTI contract closed back above $62.50 per barrel.

USD/CAD, 4-Hour Chart Analysis

Gold continued to follow the Euro, finishing the day slightly higher, but the precious metal showed notable relative strength during the Asian session, and that could be the precursor of a move to new rally highs, should the bearish scenario play out in equities.

Cryptocurrencies

The segment had another bearish session, and the bleeding continued after the US session, with BTC leading the way lower this time around after a long period of relative strength. A crucial test might be ahead of the most valuable coin, as the $9000-$9200 support zone would be a perfect target for the current correction, to keep the uptrend going. That said, that zone is still almost 50% above the prior low, leaving plenty of room for the coin to bottom out.

BTC/USDT, 4-Hour Chart Analysis

With all of the major altcoins also sporting significant losses, bulls would like to see more of the early relative strength that some coins have been showing, to establish a leadership that can guide the segment out of the plunge. For now, the crash lows are way below the current levels, and the bullish long-term scenario remains intact.

Featured image from 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.
11 votes, average: 4.55 out of 511 votes, average: 4.55 out of 511 votes, average: 4.55 out of 511 votes, average: 4.55 out of 511 votes, average: 4.55 out of 5 (11 votes, average: 4.55 out of 5)
You need to be a registered member to rate this.
Loading...

4.7 stars on average, based on 111 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

Technical Analysis: Correction Continues but Coins Remain Stable

Published

on

It’s been another mixed session for cryptocurrency investors as judging by only the price action, the segment suffered losses across the board, but comparing the current sell-off to the January plunge reveals that the majors are much more resilient this time around.

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

The largest digital currencies are holding on to most of the gains of the recent weeks, and the price action near the crucial support zones is also encouraging. With all that said, the correction is not over yet, and further losses are still in the cards, but barring a substantial change in price action, the coins will likely continue the rally.

BTC/USD, 4-Hour Chart Analysis

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Bitcoin has been trading around the key $10,000 level all day long, and, so far, a clear break-down has been averted. The short-term momentum indicators are now in neutral territory regarding the most valuable coin, and that could mean that a bottom is close, and investors should already add to their holdings here. Further strong support is found between $9000 and $9200, while targets are ahead at $11,300, $13,000, and $14,250.

XMR/USDT, 4-Hour Chart Analysis

Correlation between the majors has increased during the sell-off, but there are still clear outperformers and laggards, adding to the bullish case. Monero remains among the strongest coins from a technical perspective, trading right at the lower boundary of the bullish consolidation pattern, with the $280 price level holding up for now. The coin faces strong resistance near $300 and $335, but we expect the uptrend to continue with the next target being ahead at $400, while further support is found at $240.

(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.
9 votes, average: 4.33 out of 59 votes, average: 4.33 out of 59 votes, average: 4.33 out of 59 votes, average: 4.33 out of 59 votes, average: 4.33 out of 5 (9 votes, average: 4.33 out of 5)
You need to be a registered member to rate this.
Loading...

4.7 stars on average, based on 111 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

Pre-Market: Bulls Try to Fight Back after Ugly Overnight Session

Published

on

Following the steep late-day downturn on Wednesday, which followed the not-to-hawkish FED meeting minutes, Asian markets and US equity futures continued lower with a vengeance. The very active overnight trading is another sign of the regime change in traditional financial markets that we have been monitoring for the last two weeks, ever since the “Black Monday of 2018”.

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

Dow Futures, 4-Hour Chart Analysis

EUR/USD Changing Behavior

The European session brought about an oversold bounce that stabilized markets from stocks to currencies. The EUR/USD pair that has started acting “normally” considering its relationship with US Treasury yields lately, is headed south once again, trading only 0.5% above its recent correction lows after clearly breaking below the rising trendline.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

EUR/USD, 4-Hour Chart Analysis

The bull-trap that we identified a few days ago was the start of the current leg lower, and if the regime change will be persistent, the most traded forex pair could be back to the role of the “risk-on/risk-off” indicator that has been the privilege of commodity currencies in the last couple of weeks.

USD/JPY, 4-Hour Chart Analysis

The Japanese Yen is showing notable strength after its overbought dip, and the primary safe-haven currency could be in for more gains, should the risk-selloff continue. The Yen also gained ground on the common European currency, following the dovish ECB meeting accounts and the misses in the German IFO business climate indicator and the British GDP, which all question the European growth-monetary tightening narrative.

Canadian Dollar in for a Wild Ride

USD/CAD, 4-Hour Chart Analysis

With the Canadian retail sales report and the US crude oil inventory data coming out soon, forex traders should expect sizeable moves in the recently weak currency, while the USD should also be very active during the US stock market session.

All eyes are on Treasury yields again, with the slight correction today helping the bounce in stocks and other risk assets. The Nasdaq could be the motor of a stronger rally on Wall Street, but we wouldn’t bet the house on that, as the short-term technical setup remains bearish, and a re-test of the correction lows is still the most likely scenario for the coming weeks.

Featured image from 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.
3 votes, average: 5.00 out of 53 votes, average: 5.00 out of 53 votes, average: 5.00 out of 53 votes, average: 5.00 out of 53 votes, average: 5.00 out of 5 (3 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.7 stars on average, based on 111 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