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Why NEO Is My Favorite Coin

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Bitcoin’s price point of $9,600 isn’t really bothering me too much anymore. I really don’t think we are going to be heading down to the $7,000s again, as we have opened so much access since then. Robinhood Exchange is now live in a handful of states. E-Trade is thinking of doing 24/7 trading to compete for cryptocurrency trader volume.

I don’t even think the world is ready to learn more than one cryptocurrency right now. All the pundits talk about is bitcoin, and many are predicting its eventual fall to zero. Our cohesive investment effort has annoyed the right people, and I just can’t imagine we will be waiting much longer to re-test some higher levels. One man’s opinion. I don’t own bitcoin, but I root like hell for it. You should too.

After doing my research, I am going to make a very rare statement and say that NEO is my favorite coin. If you followed me on Twitter for longer than 2 minutes you’d know Ethereum is the coin bundle of joy for me. But being a user of NEO is an experience. You earn dividends in GAS, NEON Wallet is a juggernaut, and their smart contracts contain everyone’s cozy coding languages so they don’t have to bother with learning new languages to do things. Let’s see what you think.

Background

NEO was founded originally as AntShares in 2014, roughly around the same time Ethereum was coming out with its crowd sale (Summer 2014). That’s important to note. This is an extremely mature team. Their purpose was to create an Ethereum-like network that was built for public and corporate commerce and consumption.

The platform has quality DAPPs, smart contract functionality, and is much easier to work in, as all development languages are supported. The network fees are charged in GAS, a coin that is used as the base currency for doing business on the network. The NEO coin acts as voting shares within the network, where users also get paid an approx. 7.42% yield on each coin they own (payments are made in GAS).

The technology works on one blockchain, and operates using “Delegated Byzantine Fault Tolerance (dbFT)”, which is a way to rapidly verify transactions. This type of network system can support 10,000 transactions per second. I think we can call that scaled, right?

Leadership

Da Hongfei: This name should give you goosebumps in five years. He is the founder and CEO of NEO, and a blockchain integration company in China called OnChain. OnChain was the blockchain pioneer in China, and it was Da Hongfei who brought it to Chinese business’ attention. He is now one of the most respected experts in blockchain adoption in China, a country of 1.37 billion that is trying to compete with the United States in everything from Iron Ore to Racquetball.

Notable Tech Highlights

GAS: The easiest way on the internet to stake. All you have to do is get the NEON Wallet application on your computer, store your coins on the wallet (get a Ledger Wallet to store it when you’re offline), and the GAS yield is automatically tracked and awarded. GAS has risen above $50, so both coins are extremely valuable.

NEON Wallet: This is my favorite wallet. It has a very sleek design, easily understandable, and you can participate in NEO-based ICOs directly on the wallet. MyEtherWallet is not close in terms of usability for a non-coding person like myself. They are trying to appeal to people like me, which is a great sign. Please download it for yourself and try to poke around, I think you’ll agree.

NeoFS: This is a storage system on NEO. Because AntShares/NEO was designed by OnChain, I believe this will be a true value add for someone who wants a one-stop-shop for blockchain, and not having to go to three different blockchains for their different types of uses. If you remember Stratis’ work with Microsoft on storage, we can now classify NEO as both Ethereum-like in network function, and Stratis-like in capability of high level storage.

NeoX: This is the integration mechanism to execute across all blockchains. This will grant the ability for companies that OnChain partners with to connect to public blockchains for sharing, but also making it one sided to protect the private chain information that it doesn’t want getting out. Are you seeing this? He is trying to create an entire blockchain ecosystem for the Chinese economy.

Partnerships

Government (tentative, of course)

The Kingdom of Thailand is going to have different needs than the People’s Republic of China. One very key difference is centralization. NEO is all on one chain, easily fork-able, and all transactions are recorded. They have said they want to be the ones to test identity verification, as their blockchain was designed for it. This is beginning to sound very government friendly. The Chinese government recently announced in its five-year plan that “integrating blockchain will become a priority.” Da Hongfei has already been working with government officials through the cryptocurrency ban to make sure that he has a seat at the table when they begin to slowly open the doors again. China will be much quicker to adopt blockchain if they can control it, and I think NEO has the capability to give them that type of control.

ICOs

Because of the usability of NEON Wallet, I think there will be more ICOs launched on NEO. It is much easier for me as an investor to invest in an ICO directly from my wallet, with no mess in-between. I don’t invest in ICOs, but I know that this is sorely needed compared to the process people go through now. There are also compliance procedures. If there was a fraud coin, I am more confident that NEO’s team would step in before Ethereum’s (as we saw with the DAO). If all the offerings need to be bought in NEO or GAS, we now have a large buyer ecosystem.

Microsoft

I don’t think this is a full fledged partnership, but Microsoft Azure’s Song Qingjian spoke at NEO conference about their “Coco Framework,” which is using the same Delegated Byzantine Fault Tolerance (dbFT) that NEO uses within its blockchain framework. Stratis has worked with Microsoft Azure on its file cabinets, but not on its network. This could be a very interesting relationship when both networks have had some time to grow.

OnChain

If you read my prior article on OMG, this is the exact same structure that I am beginning to love. It is my opinion that AntShares was created out of necessity to scale their blockchain solutions for OnChain’s customers. Just like Omise, I am relying on the parent company to do all of the selling for NEO.

OnChain has a product called DNA (Distributed Networks Architecture), which is for business system integration into blockchain. In other words, this is a simpler way to store information, automate processes through smart contracts, and of course, comply with government regulations in a much more transparent way.

OnChain is the reason why NEO is my favorite coin. They will be the ones designing and implementing Chinese commerce on blockchain. Unless another platform such as this comes along with even more oversight transparency, the government is going to be choosing this one. Yes, I believe China will choose. OnChain’s designers knew who would be buying this product, and who would want to be watching. I can’t see any other mover taking this position.

Conclusion

I am buying more. Just like people who bought Alibaba or Tencent when it was dirt cheap, I wish I could buy OnChain stock. Da Hongfei is the guy people are listening to on the great migration of information onto the blockchain. It won’t be the kid on Twitter announcing announcements, I can promise you that.

I think I will be proven right on my assessment of this company very soon. They are already are very highly valued, but this network could be the technological veins that run through China as soon as they are comfortable enough to agree with it. This large-scale ban on cryptocurrencies is not like a Facebook ban. They are trying to figure out what the hell it is first. Da clearly is working hard at educating, and I think there will be some sneaky high NEO volume coming up in trading ahead of any bigger news of China’s fledgling interest in blockchain.

 

Well…It’s tough to say this isn’t a recommendation to buy or sell cryptocurrencies, but it isn’t! Do your own research. We have seen moves that have lost people a ton of money, even in the coins that I mentioned. Be careful.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 27 rated postsMythological God of Lightning. Cryptocurrency/Blockchain writer, evangelist, and friend. May the odds be ever in our favor.




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4 Comments

4 Comments

  1. scottolson

    February 26, 2018 at 3:11 am

    Thx for the article, did you find any piece of information how to buy some OnChain shares?

  2. embersburnbrightly

    February 26, 2018 at 3:18 am

    I am a big fan of OMG and NEO, and I like them even more after reading your well-written articles on both. Thank you.

  3. Mister.Ticot

    February 26, 2018 at 3:10 pm

    Good job, thank you 🙂

  4. febrocas

    February 27, 2018 at 4:55 pm

    Nice article although there is a huge flaw with the NEO/GAS logic rendering neo smart-contracts useless for most developers.
    For example, when i deploy smart contracts in eth i pay a max of 20-30 usd in gas fees. Which is fine if i want to create a crowdsale contract for example.
    Try that in neo. The fact the gas price is so high is amazing for investors and terrible for users (devs). Meaning, i need to purchase a bunch of gas to spend or a bunch of neo to stake gas i order to deploy contracts. With a gas price = $50, i really dont see a way for startups to use the platform.

    https://www.reddit.com/r/NEO/comments/7iu6ua/the_contract_gas_fee_prices_out_promising_startups/

    http://docs.neo.org/en-us/sc/systemfees.html#transaction-fees

    https://news.ycombinator.com/item?id=15371598

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Articles

Are Crypto News Sites Allowing Freedom Of Thought?

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As the interest in cryptocurrencies has exploded during the past couple years, crypto news sites have been on the rise.  These sites are quickly becoming an invaluable resource for traders who enjoy learning about new crypto projects and trade ideas.  The content distributed through these platforms is typically created by a combination of full-time staff and guest contributors/bloggers.  Many of these writers also have a lot of experience in crypto trading so the articles are extremely beneficial for readers.

One thing that readers should always keep in mind is that the content from these sites normally represents the independent thoughts of the writer.  This is important because writers/traders aren’t infallible.  They can make mistakes like all of us.  So, the best approach for readers is to try to attain a diversity of thought.  A diversity of thought means to gather as much information as possible, from a wide selection of sources.  This is absolutely necessary before reaching a conclusion on a certain topic.

But what happens when a website prevents writers from writing about specific topics?  A colleague of mine recently tried publishing an article at Coinnounce.  The writer wanted to publish an article about the buying opportunity that the Bitcoin crash was affording investors.  Normally an article is rejected for legitimate reasons such as poor grammar, plagiarism, or promotional work.  Unfortunately, Coinnounce cited that the website was bearish on Bitcoin and that they wouldn’t be publishing bullish articles.  Even more troubling is that when Bitcoin rebounded in price, Coinnounce reached out to my colleague and told him they would now be willing to publish the bullish article.

When I found out about the rejection and the reason given, I decided to browse the Coinnounce website (which I had never heard of) to find out what kinds of articles were being published.  And sure enough, the articles were nearly all bearish in some fashion.  The problem with this approach is that nobody knows where Bitcoin is going.  It’s 100% speculation.  What actually matters is the logic presented in the article that helps back up a prediction.  So, while Coinnounce is free to run its business as it sees fit, the website (or the articles published) should have a disclaimer that the information presented represents the thoughts of the website’s owners/editors.  Otherwise, readers may not have a clear understanding of what is being presented.

The point of this article is not to call out Coinnounce.  Rather, the point is to make sure readers are aware that some sites may have different motivations than others.  It’s important to read from a variety of sources to get as much information as possible.  This is true not just for cryptocurrency markets, but for everything in life.  I’m proud to write for Hacked which runs an open and honest platform.  The articles written do represent the thoughts and feelings of the writers.  So, while the editors may not always come to the same conclusions that the articles do, they will never suppress freedom of thought.

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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Op-Ed

The Underlying Assets are Getting Squeezed

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An interesting phenomenon has emerged in the last 3 or 4 months. It appears as if many of the core underlying investment assets of the economy are getting steadily killed in the markets. This is observable in FANG stocks (Facebook, Amazon, Netflix, and Google) as well as commodities like crude oil and iron ore.

Additionally, Bitcoin has continued to get hammered during this absolute beat down on the economy. Many pundits have come out and talked about how this is the “end of Bitcoin” or how this is Bitcoin finally finding its true value, but something far more important is at work here.

Deleveraging During the Credit Squeeze

For anyone who hasn’t been reading the news over the last several months, the actions of the Fed (and other central banks) have been under considerable analysis. The previous decade has seen some of the easiest money in the history of our economy. Easy money refers to the cost of borrowing. The lower the cost (interest rate), the easier the money is considered to be.

So as we start to see the credit markets change in a way that makes it a lot harder to borrow money, a credit crunch begins. This is when there is a shortage of credit (lending) and borrowers are forced to pay back parts of their loans, or at least not take out any new ones. And as a direct result, they can’t afford to maintain certain investment positions.

Their inability to maintain these positions means they need to sell off their holdings in the same way a short squeeze causes short sellers to need to buy back the security they were shorting. A credit crunch closes a lot of positions.

The economy-wide effect this is having is both predictable and scary, because we don’t know how far all these underlying assets are going to fall before they stabilize. In the mean time, there will be drastic political effects as a result. The policies of central banks have come under scrutiny in recent months thanks to comments by President Trump, and now that a tighter monetary policy is being put into play, we are going to see much lower dollar liquidity in the future.

Zooming in on Bitcoin

So with all of these assets “puking on themselves”, or deleveraging, we are seeing some interesting dynamics unfold. In Bitcoin, capitulation is occurring on both sides of the asset, which is exactly what is necessary to reverse this trend in the future.

You can see traders instinctively realize that the “dead cat bounce” that normally occurs as shorts get squeezed out in the $4k range is much more muted now. This is because many of the shorts have already closed their position. Longs are doing the same as they bought in at what they thought was the bottom, even as recent times have proven them to be mistaken.

This is going to work out as a good thing for Bitcoin in the long-term, as it could be the end of the massive downmarket it has experienced all year and a new time to shine. At the very least, it could create a good “bottom” for opportunistic buyers to hop in and average their costs down a bit.

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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Altcoins

60 Minutes Showcases Potential of DNA and Genetic Genealogy; Opportunity for Crypto Investors

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DNA Storage

Throughout the years, 60 Minutes has been responsible for reporting on some of the biggest stories in the world.  Many of the most memorable episodes have involved world leader interviews, stories on endangered animals, profiles of famous celebrities, and occasionally, segments on promising developments in business and science.  A week ago, 60 Minutes had a very interesting report on how the authorities used Genetic genealogy to solve the case of the Golden State Killer, and how the authorities plan to keep using this new field to solve more cold cases in the future.

On April 25, 2018, authorities in Sacramento announced that they had solved the notorious case of the Golden State Killer.  Authorities were able to use a promising new technique called Genetic genealogy to help identify 72-year-old former police officer, Joseph DeAngelo, as the suspected killer.

Genetic Genealogy

Genetic genealogy is a mixture of high-tech DNA analysis, high speed computer technology, and family genealogy.  The end goal is to determine the level and type of genetic relationship between individuals.

In the case of the Golden State Killer, DNA came into play because the killer had committed at least 12 murders, 50 rapes, and many home burglaries.  Investigators were able to obtain DNA from the killer at one of the reported crime scenes.  After many years of frustrating dead ends, a cold case investigator submitted the obtained DNA sample to GEDmatch.  GEDmatch is the largest public genealogy database in the world.  After uploading the sample, authorities were able to generate a handful of leads which eventually led to the front doors of Joseph DeAngelo.

In addition to the Golden State Killer case, authorities have used Genetic genealogy to make arrests in at least 11 other cold cases.  While the science appears to be sound, there is a legal question that has yet to be answered.  There is no doubt that attorneys for the accused will raise the question of privacy and whether using databases, thought to be private, should be legal.

Opportunity for Crypto Investors

While I’ve invested in equities and crypto for many years with varying degrees of success, I’ve never had the opportunity to invest at the beginning of a new frontier.  Fortunately, the opportunity has come.  Encrypgen (DNA) is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data.  This creates a fair marketplace for a person’s DNA that can be stored private and sold (if a person wishes to do that).

Over the past few months, Encrypgen has been gaining attention in the mainstream media because of their revolutionary technology as well as the fact that their closest competition is still years away.

In August, Encrypgen released a beta version of its Gene-Chain.  The Gene-Chain allows consumers to upload their genetic profile and for researchers to purchase that genetic data.  Within the next 2 weeks, the company plans to release the full version of the Gene-Chain which will officially make them a new pioneer in the field of genomic blockchain security.

With the DNA token hovering at approximately 5 cents, the time is running out to accumulate at bargain basement prices.  I fully expect the token to achieve utility in the next several months which will cause a rocket-like explosion in the token price.  There is no looking back now, only forward, and I love what I see.

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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