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Why Investors Should Pay Attention to Golem

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Did you know most of us only use a fraction of our computers’ capacity? Thinking about it, you wouldn’t expect most of the tasks we do on a daily basis to take up much computing power. So what do you think happens to the rest of your capacity?

It sits idle, and nothing is done with it. Your computer is still on and consuming electricity and this power goes to waste. Based on this exact “problem” Golem has come up with a solution that ends up being a lot like AirBnb for your computer.

Golem has created a peer-to-peer system for sharing computing power across the network. The result is a flexible, scalable solution that aggregates idle resources and democratizes the payout to the millions of people on the network.

Golem’s Long Road to an ICO

It took 3 years, but Golem finally completed the sale of their GNT token in early April 2018. The platform is built on ETH and utilizes smart contracts to drastically bring down the cost of distributed computing. The sale was completed in under 20 minutes and raised 820,000 ETH ($340 million).

How it works is that suppliers have extra computing power and are willing to be paid GNT in exchange for their computers performing tasks for requesters.

The app is 100% secure and operates in the background, and you can also choose what fraction of your computing power to use, so there’s no worry about getting slowed down by its operation. Ideally, the only time you would notice it is when you earn some ETH for performing tasks for other users.

Golem’s Economics

The mechanics of the market are pretty simple. There is demand (requesters) and supply (providers). The supply is essential, because there are no central servers that are able to perform computations. Providers will come to the network with the goal of earning a few dollars a month in ETH, at virtually no cost to themselves.

On the demand side, you have users who buy GNT tokens in order to pay for providers to perform tasks for them. Requesters generally join the network because of its lower cost. They are able to set the maximum they will pay (their bid) and Golem distributes the tasks appropriately.

A final party to consider are the software developers who enjoy access to a distribution channel that helps them depoy and monetize new software. Golem has a store that enables this function and adds much more value to the network.

The obvious competitors to Golem are big cloud services like Amazon Web Services and Microsoft Azure. The fact is that these services are grossly overpriced because the companies have developed an oligopoly that allows them to collect high margins. This is crazy because computing power is not actually a scarce resource and this is the market inefficiency Golem aims to fix.

Golem’s Long Game

Golem is currently trading at a fraction of a dollar ($0.145) and is down from a high above $1.00. The same downturn has affected many companies in the blockchain space, and Golem has received extra flak for taking so long to release their product. At the same time, another way to look at this is as a major buying opportunity.

Most of this has to do not with ineptitude, but a complex framework (Ethereum) that isn’t perfectly designed for integration yet. However, in the long-run Golem still has huge potential. As more features are released (Clay Golem is next) and they scale to be able to help data centres, there is no limit to how far they can go. The size of the market has been proven by Amazon and Microsoft, and now it is up to Golem to see if they can get a piece of the pie.

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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Tron Price Analysis: TRX/USD Must Break and Close Above $0.03000 or be Punished

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  • Tron price is seen trading in the green late on Tuesday, with gains of 2.5% at the time of writing.
  • TRX/USD is still shaping up a potential head and shoulders pattern structure.

The Tron price in the latter part of trading on Tuesday was seen holding gains of 2.5%. The bulls manage to see TRX/USD rising for a second consecutive session. Sellers however are not making things easy, as they continue to cap upside potential.

Daily Chart View

TRX/USD daily chart.

Looking via the daily chart view, a chunky area of supply can be observed running from the $0.02600-$0.02900 price region. This has plagued the bulls since August 2018, as they continue to be dealt a blow by the bears on each occasion. As a freak incident, TRX/USD did manage to force an aggressive spike above this area; however, it was not sustained and failed to close above. Key daily support should be noted at the running ascending trend line. This has been active since 21st December 2018.

Head and Shoulders Still in Play

It is worth considering that a head and shoulders pattern structure can be eyed. Both the left shoulder and head have been constructed. Eyes are currently on the right shoulder, which is still very much in play. The neckline should be noted around $0.023000, and a breach below here could open another fresh wave of hard selling pressure. Support to the downside of this level is not seen until the $0.0175000-$0.016000 range.

60-minute Chart View

TRX/USD 60-minute chart.

In terms of the 60-minute chart, the slowdown in upside momentum can clearly be witnessed. The recent hourly candlesticks demonstrating a loss of power from the bulls most recent run. In terms of this price cooling, it could simple be profit-taking after the decent surge to the north of late. Given the current price cooling, downside hourly support should be noted at; $0.025200 and then $0.023500. These both being ahead of the long running daily ascending trend line.

Upside Target Areas

Should the bulls maintain the current upside momentum, the hopes for the above-mentioned supply zone will be high. A daily breakout and closure above this area really could be the key to greater sustained buying pressure. The market has already witnessed how powerful the TRX/USD bull runs can be once started. As a point of reference, during the most recent rally from mid-December 2018 to the 10th January, the price gained over 180%. This was the biggest string of gains in a trend higher since April 2018, where TRX/USD rose around 240%.

The big level to watch is $0.030000, where the sellers are presently camped. This area being conquered will likely pave the way for a fast move, back towards the $0.040000 territory. The price has not been up at these heights since August 2018, a period when the market had re-entered a strong trend south, dropping a big 50% from the start to mid-August.

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 112 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Lisk (LSK) Pushing for Momentum as Marketing Chief Responds to Over-Hyped Claims

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Lisk (LSK) trailed on the edges of Tuesday’s altcoin surge which saw more than a dozen alts increase by between 7% and 40% in value.

One day previously, the project’s head of marketing, Thomas Schouten, took to Reddit to respond to the recent assessment by William Mougayar that Lisk was among multiple blockchain projects which he regarded as ‘over-marketed’.

Mougayar is a venture investor and advisor, and author of The Business Blockchain, which boasts a foreword by Vitalik Buterin. Shouten’s regard for Mougayar’s opinion was such that he felt compelled to respond to the criticism.

Is Lisk Over-Marketed?

As you can see from Mougayar’s graphic, Lisk joins the likes of EOS, Tron and XRP (here referred to as Ripple) in the over-marketed category. Mougayar stated:

“I’ve classified some projects in 3 buckets: Right, Under & Over Marketed. It is based on their own or community-driven activity. I understand some will push back, but this is how I view the market today.”

The tweet followed the author’s post from the previous day titled ‘Marketing Strategies and Practices for Blockchain Projects and Startups’. The post makes a nifty read for those interested in the marketing side of blockchain; why more money doesn’t always breed more success (he’s looking at you, EOS); and the difference between branding and visual identity.

“Over-marketed means the claims are ahead of delivery or being hyped. Under-marketed means the potential of the product is not well messaged into the market.”

Many of the tweet’s 130 comments came from disgruntled coin holders intent on defending their respective projects – in response to which Mougayar added:

“…the classification has nothing to do with the products/services of these companies… I didn’t include all blockchain projects, but selected ones that I was familiar with and that were significant enough to use as a representative sample.”

Lisk Head of Marketing Responds

The response by Lisk’s Thomas Schouten was less hostile than you might expect. He conceded that Lisk had indeed been over-marketed to an extent:

“William’s definition of over-marketed is “claims are ahead of delivery or being hyped”. To a certain degree, I agree with his judgement… I feel that too often our team has predicted progress that could not be delivered in the end. We have learned from this the hard way.”

However, Schouten also pointed out that many of the so-called ‘right-marketed’ projects happened to be exchanges, while most ‘over-marketed’ projects happened to be platforms.

“Coincidence? No. To me, comparing an exchange (for-profit) with a working product and profitable business model, to open-source blockchain platforms in development (non-profit) is comparing apples with pears.”

Lisk Price

While LSK did record 3.3% gains against the dollar, and over 4.4% against BTC on Tuesday, momentum was hard to come by. LSK/BTC on Binance moved from $0.0003368 up to $0.0003518, while the dollar valuation rose from $1.19 to $1.23.

The daily trade volume of $3.6 million was a $400,000 increase from the previous day – not insignificant, but nowhere near the trade influx seen by some of the day’s major movers.

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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4.5 stars on average, based on 125 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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What Joe Rogan and His Billions of Viewers Have Learned About Bitcoin, Crypto and Blockchain

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Podcast powerhouse Joe Rogan has been dipping his toes into cryptocurrency ever more frequently since Andreas Antonopoulos made his first of four appearances to date on the show back in early 2014.

In the intervening years, a potential billion monthly listeners have frequently been exposed to informative, educational, and sometimes controversial, cryptocurrency conversations on the podcast platform. These have been conducted by blockchain evangelists (Dr. Ben Goertzel) as well as hardcore skeptics (Peter Schiff), and have explored a plethora of crypto and blockchain’s potential uses.

So, amid the cacophony of opposing thought and opinion the largest media platform in the world has exposed its viewers to, just what will the JRE viewers have taken away from the podcast’s crypto-centric episodes?

The Good

Crypto fundamentalists would have been more thrilled with Anton Antonopoulos’ appearances on the show than blockchain fanatics. Antonopoulos makes no secret of his desire to see crypto shake up the existing global financial paradigm, and Rogan’s somewhat lefty/hippy nature assured he received these ideas enthusiastically.

“All you creeps that are controlling money all throughout the world… your time is slowly closing in. Am I right?”

That’s the question with which Joe Rogan opened JRE #844 – Antonopoulos’ fourth appearance on the show. Andreas answered with a simple ‘Yep’, and went on to explain the phenomena which saw the banking industry make a (devious?) move into the blockchain world:

“ (In 2015) The media was constantly bashing Bitcoin. And then… we saw this interesting phenomena where the banks started getting interested…not in Bitcoin, but in blockchain – the technology behind Bitcoin.”

The best side of cryptocurrency – its potential to wrestle financial control from the hands of our global banking overlords – is best displayed during Antonopoulos’ appearances on the show, and are worth a listen for his wonderful analogies alone:

It’s rather amusing. I look at that a bit like the Horse-Buggy Association of America is going: ‘we like this automobile thing you’ve designed, but we have a very big investment in hay and horses, stables and veterinarians, so we’re going to use the technology behind the automobile – the pneumatic tyre – and we’re going to revolutionize horse-buggies.’”

The Bad

Perhaps the worst side of cryptocurrency to be exposed on JRE is its tendency to find itself the target of hackers and thieves. More than once Rogan and guests have brought up some of the ridiculous sums of cryptocurrency stolen in recent years, and the conversations usually end with a hopeful plea that one day ‘they’ll find out how to make it more secure’.

Of course, the vast, vast majority of crypto thefts to date have taken place on exchanges. Holding this up as an example of crypto’s lack of security is like blaming a car for getting stolen, even though you left it out in the middle of the road with the engine running – or worse – placed the keys in the hand of the thief yourself.

The Ugly

The ugly truth which investment broker and financial commentator, Peter Schiff, thought he was unveiling on JRE went something like this: Bitcoin has no value; Bitcoin is doomed; Buy more gold. On JRE #1145, Schiff said:

“Bitcoin is trying to digitally replicate the properties of gold. That’s the whole selling point – they say it’s digital gold. And it does have a lot of gold’s properties which help it succeed as money, but it doesn’t have any of gold’s physical properties that gave it so much value in the first place.”

Schiff also caused a stir back in July 2018 when he placed a $1,000 price prediction on BTC, and ridiculed its ‘fake scarcity’. Despite Schiff’s pessimism, and the furore that his appearances always cause, he has probably added some much needed healthy skepticism to the podcast over the years – even though most here would disagree with him completely.

The Future

With Andreas Antonopoulos slated to re-appear in the coming months – his first appearance in over two years – it will be interesting to get his take on the ICO madness of 2017-2018, the market’s ATH, and its subsequent drop-off since then.

Whether you’re a fan of JRE or not, the podcast might end up playing a bigger part than most in spreading crypto and blockchain awareness around the globe.

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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4.5 stars on average, based on 125 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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