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Why Are You Selling Right Now?

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The day is January 11th, and as I am overlooking the veranda of red on my computer screen, I am dumbfounded thinking to myself “There are people selling right now!” So now more than ever is an excellent time to explain what exactly you are doing with the money you are spending in cryptocurrency.

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This is an incredibly speculative investment. There are governments across the world that are trying to limit cryptocurrency mining and trade. Sometimes for good reason! Don’t think that you are investing next to the nice old lady from church. You are investing with Syria, North Korea, Iran, Venezuela, and the list goes on. Let’s not forget where cryptocurrency came from. Bitcoin was widely thought of as a criminal technology, and much of the population still sternly believes it (without one… single… f’ing Google Search)!

So why does this matter when the market is red? Because before your eyes, you are seeing the beauty of an unregulated market full of amateurs. Scared money is what rules the market right now. You have people who have taken mortgages, loans, and even sold property to buy more cryptocurrency. Asia has gone so crazy that we now believe the prices on their exchanges are fictional. The reason you got into cryptocurrency is for days like this. I know you, reader reading this page. You are looking for financial freedom while also having a direct impact in the future of money. You are a contrarian amongst your friends and family, with very few trusting your word on this new and innovative technology. So, why in the hell are you are stopping your contrarian behavior the moment you walk in the door? That’s what is going to make you money!

So let’s all take a step back here. On this down day, what opportunities do we have? Well, if you read my first article, you would know that you have an index of roughly 10 investable profit-reaping block chains/cryptocurrencies. So, if you took a look, you would notice those currencies are down! Some of them might have news coming out soon that they will added to an App that people love (I ain’t spelling it out)!

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Here’s a strategy that can keep your heart rate down, while also giving you a good chance to make some money on one of the most important days of the month for cryptocurrency: Baby Buys. Buy $50 of your target(s) at a price you like. I will use myself as an example. Whenever I see a 12 handle on Bitcoin, that is an automatic extra pocket change buy. If it goes to 5,000, hey, I bet a steak dinner on it and I will have to wait (maybe forever) to get my money back. Always keep speckling money in at prices you like. I am NOT recommending “.000002 buy stop .00003000 when candle sticks cross the support”. Ain’t nobody got time for that. You know what prices look good if you’ve been watching diligently over the past couple weeks. Trust yourself to know a good price for a $50 investment. Keep checking back. If it’s going up, good! If it’s going down, even better! This is not a strategy to use on non-functioning businesses. I don’t know how people invest in those, so ask them.

The currencies that you are baby buying are also ones that hopefully have a future in making money from large volumes of people and businesses using their block chain road. That is the reason everyone is in the market. Speculating who in this madness actually has something that will work IN THE FUTURE. Not at full capacity 3 weeks from now. We need to focus on governments setting parameters before we really see the prices that we early adopters like and deserve. So, in this article, you are not hearing about baby sells. There are none. Keep what you have and hold on for dear life. This will, undoubtedly, be a bumpy ride.

Conclusion

This is a great day, not a bad one. We are all looking for the next big thing. Well, no matter what your belief on the big thing is, chances are it’s down right now. This is always the time to think about your limits, and what your goals are in the cryptocurrency market. Before you buy even one coin, always make sure you know what your exit plan is. Take profit.

This is my strategy that I employ, I am not recommending it to anyone and it should not be considered financial advice. My purpose of writing this is inspire thought, and thought only.

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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9 Comments

9 Comments

  1. jonahlarkin

    January 12, 2018 at 9:35 pm

    Completely agree. I was buying when others were selling. I didn’t see your other article you cited on here. Care to share the link?

    • Raiden

      January 12, 2018 at 10:03 pm

      Sorry- Looking into getting it up. Stay tuned.

  2. bvanv

    January 12, 2018 at 9:39 pm

    Yes, I can’t find the first article.

  3. dist

    January 12, 2018 at 10:03 pm

    And it’s all back up…

  4. princedoag

    January 13, 2018 at 12:46 am

    To be clear which coin is hitting at app?

  5. steve08

    January 13, 2018 at 6:16 am

    Great article Raiden. What are the 10 coins that you’re recommending in the first article? Which article is it? Thx.

    • elleepiphany

      January 13, 2018 at 6:48 am

      Also interested. Thanks!

    • steve08

      January 13, 2018 at 2:34 pm

      Could you post the 10 coins you mentioned in your article? Also, do you have any suggestions on low market cap coins and coins like Trig that offer masternodes? Thx

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NEO

The Lamen’s Story behind QTUM

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Market Update: Th crypto market cap has climbed back above $500 billion. Well done folks! I am liking the slower gains, as I think this could be new entrants. We have a ton of people way behind in cost basis on every coin, so I am just not convinced that those people sold at the bottom and then are re-entering. We waited this out, and the chatter throughout the media is getting to be too much for the later adopters to bare without getting involved. I have begun my history lesson to figure out where the true technical evolution is occurring in blockchain, and what will have the application to render an immediate investment. QTUM combines UTXO ledgers and smart contracts in one platform, and I need to understand their business reasoning behind why that is important. That starts with bitcoin.

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The Timeline in Blockchain

The beginning was bitcoin. This framework was created by the infamous Satoshi Nakamoto, who wanted to encrypt the way that money could be transacted. The transaction model he chose for his ledger based blockchain was inputs and outputs. Each bitcoin is an output from an input, and outputs are used to send money, not accounts.

UTXO “Unspent Transaction Outputs” is what your bitcoin account consists of. Don’t expect Windows 95 to be the most sophisticated! So, when someone sends you bitcoin, it goes “UTXO”. It is added up with all of the other times you received but didn’t send…and there is your bitcoin balance. Here’s where it gets tricky. Say you have UTXO balances of BTC 5, 3, 2. That means someone sent those coins to you in 3 different transactions. Now you want to send 1 BTC. UTXO will choose the most prudent one, 2 in this case, and then create an input for 2. But I wanted to only send 1! Don’t worry, there will be two outputs, 1 BTC for your recipient, and 1 BTC back to UTXO. You cannot take portion of a UTXO, it will all go into the input, and out the output.

Ethereum was the evolution. Instead of this UTXO model where there is no real single account- just lists of inputs and outputs, there was a place where people could have an account that is much similar to a bank account. You send, you receive, and everything is recorded. There is no choosing which UTXO fits which transaction, each transaction can be unique, and only the amount needed will be input. Debits and Credits, just like a bank account.

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Ethereum smart contracts are pillars of the account model. These contracts have unlimited capability to set rules (e.g., 100 voters, duration: six hours, choices: Candidate A, Candidate B, etc.), quantify inputs, determine precise results safely and securely, and dispense the ether of course! This new function in the blockchain required code of higher quality (I am not going to go GitHub level here) for the smart contract to work with, rather than a smart contract having to deal with a bunch of random UTXO’s. The account system worked for this just fine…or so we thought.

The DAO, founded by a consortium of Ethereum founders and followers, was a fund (a smart contract “account”) created in 2016 to be the first organization to promote the migration of business and commerce into the blockchain, and automate things for absolute and unbiased results. If you wanted to make a project that would benefit commerce on the blockchain, the smart contract would determine a consensus-based allotment.

Ironically, the DAO smart contract “account” was spoofed into funding a “Child DAO”, an exact replica of the DAO that convinced the smart contract to fund it multiple times over. Ethereum went from $20 to $13, as $70m was drained into the Child DAO. The Child DAO issue eventually led to an Ethereum hard fork, the result of voting to not let the attacker (who said he had legal right to his property through a lawyer) have his prize for his creation, and emptying the piggy bank to all those who lost ETH and laid claim to it.

QTUM

I want you all to know that all of that information was needed for me to explain QTUM.

This all started when I wanted to do some research for my own benefit. QTUM’s “About Us” was claiming their new benefits were that they designed a UTXO blockchain that has accounts with a smart contract account layer. So my thought was, why does QTUM want a UTXO blockchain? They believe UTXO has much more in scalability terms for business functions by having limiting information and “Proof of Consensus” model, and they wanted to build something that could act as the ether for those who were hard at work mining in the bitcoin UTXO community.

Eighty percent of all the QTUM tokens will be distributed for an array of purposes, but a major one is to bring the real world application into blockchain. Much like the older brother before it, QTUM is providing a DAO-like Account that can incentivize technical projects that can stay on their UTXO chain, but come out of the shadows to work within the community. Those who are used to coding in the Bitcoin blockchain will be happy to see that they now have Ethereum’s paint brushes in their own technical backyard. QTUM also can migrate Ethereum’s contracts into this new smart contract environment.

The platform has partnered with two companies in China (cybersecurity & media) to date, both of which are working along the lines of bringing business into the blockchain through smart contracts. China has been very cold on blockchain as of late. This may be a good project, but they are fighting against my favored incumbent NEO, and there is nothing I would say that truly separates them as unique for large migration. There will only be a handful of platforms. One for each country depending on laws/regulations. NEO is my choice.

Conclusion

I am a fan of the concept of taking a big community of people and trying to give them incentives through smart contracts to work harder for business purposes. I am not sure how big the bitcoin UTXO community is. Like you have seen, this is very deep technical information and the differences between UTXO and the Account method are murky at best for a lamen.

I have a small holding of QTUM, and it will remain small. UTXO seems like a bridge to bitcoin’s old tech that they are reviving. Ethereum already has had the first wave of business migration, and it seems that Solidity, the coding language of Ethereum smart contracts, is on every developers to-do list.

Overall, if QTUM makes a ton of money, non-coders won’t know why. It is a platform for people in the bitcoin chain to use for business purposes, but Bitcoin was made by someone who vanished and there is no one leading the initiatives within. Does bitcoin have an initiative? This may be like a Coder’s Coin. They like it for the certain coding characteristic, but overall the difference is minimal other than the chains are different. I think paradigm platform chains will exist, and the current ones are Ethereum and NEO.

A true technical smart contract artist or developer may disagree with me, but I see no extremely valuable difference between Ethereum and QTUM. QTUM certainly isn’t a coin for business people like myself. I will stick to what I know, and that is Ethereum-based platforms and compliance.

 

None of this is a recommendation to buy or sell cryptocurrencies. I own a small holding, and as mentioned, it will remain small. Best of luck to you on the exchanges. If you would like to remain updated on my thoughts, please do follow me @raijincrypto on Twitter.

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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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Op-Ed

Decoding Ripple

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Market Update: As of this writing, bitcoin is up to almost $10,800 with ETH at $962. Great news. What we saw this week was slow, consistent gains. It looks like most coins are gaining 3-10% daily, with not too much parabolic activity that would make me more nervous. We had a ton of tailwinds, too many to count. A White House Official said cryptocurrency regulation would not be in the immediate future, Wyoming & Colorado are trying to legislate crypto-friendly offerings/enforcements, and of course “Coinbase Merchant” was launched; which is a payment platform for businesses to begin accepting cryptocurrency payments. I couldn’t think of a better way to end the Chinese New Year.

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Big players are announcing partnerships, and of course, Ripple leads the pack. A coin is only as good as their buyers, so I want to make sure that all of my readers know who those buyers could potentially be, and what they can buy. I want provide a background on Ripple & their 3 Products (Xrapid, Xcurrent, Xvia). Ripple is one of my largest holdings, so full disclosure here.

Ripple’s Market

Ripple’s products are all designed to work with businesses on sending and receiving payments instantly and securely. Their main competitor is the incumbent, the SWIFT system.

SWIFT facilitates money wire transfers, with many checks and balances along the way. Overall, it takes about 3-5 days to clear a transaction with the SWIFT system. That means if you want to send money from USA to Germany, you can either wait a long time or you can pay a high fee to get it there quicker (via Remittance company like Western Union). During your wait time, there is also security risk. Just recently, we saw hackers take SWIFT via a Russian Bank for $6M. When you don’t encrypt your transfers & information, there is always a possibility that someone is smart enough to hack in.

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The SWIFT system, regardless of Ripple’s success, will phase out of existence. Their way of transferring money in the 21st century is outdated, and people should expect more out of their financial institutions than their money going through the equivalent of snail mail to get to it’s recipient.

Blockchain is a simple solution for payment processing, which is why you are getting so many people trying to enter the space altogether. There are trillions of dollars being moved back and forth each year around the world, and there are certain niches that will require different blockchain characteristics to serve them. One of them is banks & remittance companies. They need Anti-Money Laundering/Know Your Customer procedures built in, just like the SWIFT system. Ripple (and Lumens!) designed their chains/coins specifically for this purpose.

XCurrent

The product I hate to love. This is Ripple’s solution for bank cross-border transactions. Their system not only uses blockchain, but also validates the parties in the transaction and the transaction itself BEFORE it even takes place, so there is no wait time in between.

One bank wants to send money to another bank, with a “correspondent bank” (wire facilitator) in the middle. There is a message sent from the sending bank that will outline their intended transaction. Ripple will decode the message, and put it into ledger format for all 3 banks to read, compliance screen, and validate instantly (Inter-ledger Protocol). Sender, receiver, account information, and transaction details are all used to determine the fee that each bank will tack on for their services to determine total cost to sender for approval.

The next step is cryptographic hold of funds. This puts a hold on the transaction at all 3 banks, so that they can generate a cryptographic signature that will serve as evidence that funds are available and have been pledged for dispensing. In other words, the banks send each other “I’m ready” signals. Once all parties have provided their cryptographic signatures, Ripple automatically releases the transaction, which is sent and settled within seconds.

Communication and uniformity are the solutions that Ripple brings with this system. No longer should banks have inboxes and outboxes. Blockchain ledgers automatically validate participants in the transaction, and the blockchain itself can serve as the highway to transfer the funds instantly. Overall, this is expected to yield a 30% decrease in transaction costs for customers, while also providing instant settlement. No brainer.

Raiden, why do you love to hate it? This is the main side chain product culprit. You don’t need to use XRP in these scenarios, and banks aren’t. Sure, there is some trial periods, but I haven’t heard a major bank using XCurrent with XRP. This is when I wish I was a shareholder, not a coin holder. The best we can hope for is that XRP will become a base currency for banks once society has warmed up to the thought of virtual shells that encapsulate and mimic the value of fiat currency. Until then, I am not happy when I hear the word XCurrent.

XRapid

Our future hero. This is XCurrent, but with XRP being added in. Cross-Border/Currency payments are completely inefficient. In order for me to send dollars and someone to receive Rupees, Currency (USD) must be sent to a correspondent bank, and exchanged in a “Nostro-Account”, which serves as a liquidity pool of the foreign currency (INR). Then it has to be sent to the receiving bank in the foreign currency, going through the wire system. Long, expensive, and complicated. It is so troublesome, that most banks and remittance companies need to set minimums on transactions because it is so economically inefficient for smaller users.

Nostro-Accounts, what Ripple CEO Brad Garlinghouse calls “Dormant Cash” are just pools of sitting money that have to remain there in order to convert all of these cross-currency transaction requests. XRP can serve as the unified currency for all banks to transact with, and exchange into their intended currency. Ripple takes a multi-step/multi-party process, and eliminates almost of all it.

The U.S. dollar can eventually take the form of XRP, be sent anywhere in the world, and XRP will then take form of the intended foreign currency, and settle itself within the intended bank account. As coin holders, this is what everyone should be dreaming of prior to the Beta version launch in the Spring of 2018.

During my research, Ripple’s 2016 White Paper was the only source I could find to properly explain this system, and even my explanation may be lacking. This system is expected to free up massive amounts of Emerging Market liquidity through the lessening use of the “nostro-account” system, while also cutting transaction costs by up to 60%. I am trying to get my hands on more XRapid material, but this is very very new. I am going to keep you all posted on developments, as I have set up an RSS feed to give me anything related to XRapid as it comes out in the future.

Xvia

This system for is a platform for point of sale payments. There is not one piece of information on XVia. It is actually kind of scary how little information is available on any of these products. Here is my most educated guess based on the limited information. This is Ripple’s version of Coinbase Merchant. It is software that can be imbedded in E-Commerce sites that people can use XRP to pay for goods and services. Based on the level of information, XVia is not going to be used in the near future. If it is, then their customers must have more information on it than the public does.

Conclusion

This research was tougher than I expected. Ripple has provided good information on XCurrent, but the others are severely lacking. There also isn’t much interest in the Youtube community, with rocket ship memes being more important than content. As a coin investor, I am disappointed. Their main product right now is private labeling chains, which does not benefit coin holders. I want more information on XRapid and Xvia. You can go look at my Lumens article. There is enough information from Jed, IBM, and followers to fill a textbook. If Ripple wants to have products listed on their site, there better be some information for me to look at. We may not be owners, but we are investors. I think it’s time for them to start treating us that way.

 

None of what I am saying is an offering to buy or sell coins. Full disclosure, this author owns XRP. You certainly wouldn’t think it based on this article! I wish you the best of luck on the exchange. Please do follow me @raijincrypto on Twitter. I try to send out thoughts throughout the week.

 

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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Op-Ed

Blockzero Jed McCaleb Interview: My Outlook on XLM

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In terms of price trends, we recently saw a bit of a dip, with Ethereum and bitcoin losing about 10% no reason. I am staying away from this market until it starts to act according to good news and bad news. All of this bouncing around for no reason just smells like market manipulation and/or stupidity. Two things I don’t trade into.

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As I have looked through the content YouTube “stars” and some of the more well-known cryptocurrency enthusiasts are putting out, I am noticing one shocking thing. They come up with new coins daily to invest in. They just poof one out of thin air, they say how great the idea (not the business) is, and that it could change stuff. Wow. Well, I pride my reputation on being a broken record. I only like 4-5 coins, and I only talk about those coins. I don’t invest in anything else, nor do I want to talk about anything else. Stellar Lumens is one of those coins, and a great interview just came out with CEO Jed McCaleb. Although I have followed what Jed has said throughout Stellar’s business cycle since 2014, hearing him talk about the market right now (as of Feb. 8) was something I sorely needed as an investor when XLM is trading at a mere $0.38.

Most of these coin projects have founders who shouldn’t be anywhere near a microphone, as their explanations of their businesses is actually detrimental to marketing, not helpful. Digging into deep technical jargon on a public forum when you are supposed to be marketing your coin is not helping anyone. There are so few people who understand blockchain that companies are paying high s9x figure salaries for amateurs. Marketing should be an explanation on who’s buying, why, and how much. Jed did exactly that in his interview. He talks faster than a New York City stock broker on speed, but wants to provide only information that will give investors better insight into the XLM business; not the deep tech of the coin. I will touch on some of the key points that I loved: update on corporate relationships, innovations for public use, and ICO platform.

Corporate Relationships

CEOs are not often people who talk candidly. They are the head salespeople of the firm, and everything has to be perfect at the company. Jed is taking a humble blockchain approach. He wants to make sure that the record is straight about what partners are doing at Stellar, and how it will help/affect XLM specifically. Case in point: he said explicitly that bank relationships are far off for Stellar, and the market as a whole. He admitted the banks he works with are very early on in the sales cycle, and that 1,000+ year incumbents aren’t too used to working with new entrants. The trial runs and beta versions are all common practices in every industry. They don’t mean adoption. This was a surprise to me. I was under the assumption that these banks had a fire lit under them to catch up to blockchain. It seems they aren’t in a hurry, or just making it seem that way.

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This is where it gets good. Jed has since re-shifted focus to companies that he knows will be immediate adopters, just because of how easily it can fit into their structure. Remittance companies (Western Union, Moneygram, etc.) are the low hanging fruit in his mind. These are high volume transfers of cash, with high fees to come with it. The biggest demographic of remittances are obviously foreign workers, who also happen to be the last people who can afford to spend 5-10% of their capital on transfer fees. With an industry size of $500 billion in 2016, remittances can feed quite a few companies that have friendly corporate technology.

XLM is a shell. It can take form of fiat currency, transfer anywhere in the world, and settle in a bank account in any currency. There are 300 coins that claim they can be the new PayPal, and most them are still spouting off about decentralization. This is a company that wants control mechanisms so it can give tangible control to their corporate customers.

The way he spoke about his corporate partnerships is translucent. He doesn’t tweet (says he only watches, not talks) out random fodder that happens each day. He wants to be the business person that people can depend on. People will go back and read through the information that all of these coins put out during late 2017/early 2018. I think his spot in the annals of the crypto boom will prove to be very noble. I am happy with remittances, and I am happy he was open that banks just aren’t there yet. I haven’t heard anyone else admit it, have you?

Public Use

I was unaware of the infrastructural scope that Stellar has built since 2014. Jed created a conglomerate, not a business. He has a platform for the public to launch DAPPs/smart contracts, token offerings, and an exchange soon capable of atomic swaps (no base currency; you can trade LTC for KMD). His main goal is to create an exchange capable of housing the U.S. cryptocurrency market, while also having ICOs launching on it in tandem. The recent $30 million ICO of Mobius (I don’t invest in any ICOs) had all the looks and smells of a compliant offering. If the exchanges play well with the government, we can see some very big moves.

The next public project was partnered out. Because remittances are so large, the big companies are just necessary evils in the early adoption phase. He is working with a confidential company on creating a global Venmo-type network that can work directly with any kind of bank account. You can send USD from an American bank account, and it will deposit in yen in a Japanese bank account. All on the app in 3-5 seconds. XLM was designed specifically for this purpose, and its use cases are beginning to take up speed. XLM is the sought after technology, not private chaining. I am very excited to see what he comes up with here because this fiat currency settlement mechanism is almost monopolistic right now.

ICOs

Staying far away from ICOs right now, even Stellar’s. But that doesn’t mean that we shouldn’t find the winning race horse before the race. Stellar’s platform works with fiat currency, and it can launch ICOs. Need I say more? I have harped on this fact many times, but this is just too good not to repeat. If central banks, corporations, institutions, and high net-worth individuals feel comfortable enough with Stellar’s way of handling their native paper currencies, we could see Regulation D token securities being offered on Stellar. Big American business is waiting for the rulebook to be written, and then they will pounce. Stellar is already working with banks in the South Pacific with America’s tech darling IBM: we are seeing the heir being groomed in my opinion. All of the information listed is leading to me to a rather large conclusion.

Conclusion

My conclusion is getting fast out of XRP, and putting it all into XLM. XRapid, Xcurrent, X-me out of this XRP business. Ripple is creating blockchain systems, and has gotten the taste of private chain revenue. Their coin does not need to be used, and each company they work with has specific press releases saying they aren’t using XRP.  On the contrary, we have the head of blockchain for IBM saying they love XLM, and are actively working together to introduce it to banks. XLM, not just Stellar. That is crucial for coin holders. I am not running over to the computer to sell right now, but I will get up to my basis, and exit. I will most likely keep some for a Coinbase push, but XLM needs more of Raiden’s money. Jed McCaleb has created 3 gigantic blockchain companies (Mt. Gox, Ripple, Stellar), and smart money doesn’t bet against him. I sure won’t be.

 

This is not a recommendation to buy cryptocurrencies. I am not buying or selling anything right now, and I suggested you don’t either. If you do, be aware of the risks. I wish you the best of luck.

Disclaimer: The author has an investment stake in XRP.

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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