The Million Dollar Homepage - Own a piece of internet history!
The Million Dollar Homepage - Own a piece of internet history!
Kilobitcoinhomepage.com: Bitcoin’s ‘Million Dollar Homepage’
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$1 million Bitcoin could force JPMorgan to use Wyoming as
The Million Dollar Homepage Reborn as an ETH Smart
Weekly Wrap 24/04
Market News “May you live in interesting times” indeed. As the coronavirus continues to diminish global demand, the world is flush with oil and running out of storage space. This week, for the first time ever, oil prices turned negative. The May WTI contract which expired on Tuesday, settled at $10.01 a barrel, having closed at a discount of $37.63 in the previous session. Demand for oil is plummeting and despite a deal by Saudi Arabia, Russia and other nations to cut production, the world is running out of storage facilities to keep up with the remaining supply of ~100 million barrels a day. The pain experienced in the oil markets carried over to the stock market as Asian, European and US stock indexes fell in the wake of this unprecedented occurrence. The markets slightly rebounded however the S&P 500 and NASDAQ still ended on a slight decline from the previous week, the first negative performance in 3 weeks. This comes after data showed another 4.4 million Americans filed for unemployment and a report indicating Gilead’s potential Covid-19 drug trial failed in China. With the recent dollar gains beginning to fade, gold has rebounded to once again cross the $1700 level, ending the week up 1%. Cryptoassets also performed well, with Bitcoin up almost 5% and Ethereum roughly 8%. It is expected that the uncertainty around the easing of lockdown restrictions and the likelihood that the market is facing a global recession could provide support for both gold and cryptoassets in the medium term. Industry News
Review: The most thrilling 24 hours in Bitcoin history
From 12:00 on March 12th to 12:00 on the 13th, Bitcoin, the most influential currency in the cryptocurrency industry, suffered two major declines, and its price fell from a maximum of 7,672 USD to a minimum of 3,800 USD (data from Huobi, the next Same), the decline was 50.4%, which means that the price of Bitcoin has achieved a fairly accurate "half price" in these 24 hours. Previously, Bitcoin's "halving market" was mostly considered to be an increase in market prices caused by Bitcoin's halving production, although many people have questioned the "halving market" as " The price is halved ", but when bitcoin walks out of the current bad market, it still surprises most investors. First plunge The bad 24 hours started at 12 o'clock on March 12. Due to the rapid spread of the new crown epidemic in Europe and the United States, the global financial markets have been raining for several days. After several adjustments, the price of Bitcoin has hovered up and down within the range of $ 7600-8200 in the previous three days. However, after 12 o'clock on the 12th, Bitcoin The price fell below $ 7,600 for the first time, breaking the psychological expectations of many investors, entering a rapid decline channel, and dropping to about $ 7,200 at around 18 o'clock. At this time, the decline of Bitcoin is still around 7%, which is a common occurrence in the history of Bitcoin. However, after 18 o'clock that day, the market turned sharply, and the price of bitcoin plunged again in a short period of time. It fell to US $ 5,555 within tens of minutes, a drop of 28%, and the amount of contractual positions on each platform exceeded US $ 2 billion. During the decline, most major exchanges such as Huobi, Binance, and OKEx experienced systemic freezes of varying degrees. Many users complained for a long time that the exchange app could not properly display the homepage, market page, and transaction page, and added positions, stops, and withdrawals. Obstacles such as cash withdrawal and cash withdrawal operations have also shown that this situation also highlights that mainstream exchanges still fail to address the ability of their trading systems to respond to extreme conditions. For this decline, the collective sell-off of large Bitcoin holders is considered to be the main reason. For example, Grayscale Investment, the world's largest crypto asset fund management company, was sold and sold 40,000-50,000 Bitcoins. News from the exchange said that Bitcoin sold 400,000. For a long time, bitcoin has been called "digital gold" by the blockchain industry, and has good risk aversion properties. During the tense situation between the United States and Iran in January this year and the global stock market fell, Bitcoin rose from $ 7,200 all the way to more than $ 10,000. Bitcoin's safe-haven attributes have been widely recognized in history, but this time caused by the new crown epidemic Under the risk of the global economic downturn, the decline in the price of bitcoin has become the asset with the largest depreciation among various mainstream financial assets, and its high-risk nature will most likely collapse. Some analysts believe that bitcoin should be further classified as an alternative asset. At a time when liquidity shortage is extremely serious, as a high-risk alternative investment asset with the highest volatility in the world, funds will naturally be drawn from the market by investors. Looking for safer, more liquid assets, prices plummet. "Everyone in the future will realize that Bitcoin is not digital gold, but" an amplifier of risk. " Its value cannot be anchored. Unlike other asset prices, which are affected by costs and prices, Bitcoin has no normal market value range. As of now, it does not have any convincing valuation basis, more like a swaying boat. Without the anchor, its value fluctuates greatly, and the impact of halving the market and supply and demand on it is far less important than psychological factors. "Said Cai Kailong, senior researcher at the Institute of Financial Technology of Renmin University of China. However, some people in the industry hold different opinions. "BTC is still the most powerful currency in the history of mankind. It provides liquidity 24 hours a day. This is something that other markets simply can't imagine, but because liquidity is too good, this time it just happened to happen in other markets. When funds are scarce, the first choice for selling supplementary funds has also led to the decline of gold. Of course, the amount of BTC that is currently much lower than gold is certainly unstoppable in a short period of time. "A Weibo blogger" "fhrp". In addition to the sell-off of large institutions, some mortgage lending platforms have also passively become an important boost for this downturn. In the past six months, the Defi concept has been particularly hot in the blockchain industry, and many cryptocurrency-based cryptocurrency lending platforms were born. As a result, a large number of large Bitcoin users will pledge the Bitcoin in their accounts to third-party lending platforms and use the USDT to borrow cash to purchase cash, which is equivalent to increasing leverage. However, these platforms are not mature in terms of mortgage rate setting and liquidation mechanisms. Users who increase the mortgage rate of assets have a slower transfer speed on the chain. As a result, during this period of rapid decline in the market, a large number of mortgage orders have lower mortgage assets than loans. As a result, the amount of bitcoin out-of-market positions this time was far more than in the previous period of large market volatility, which further exacerbated the selling pressure of the bitcoin spot market. From 19:00 on the 12th to the early morning of the 13th, the price of Bitcoin hovered in the range of 5800-6200 US dollars, and the market began to prepare for the next stage of the trend. Second plunge On the evening of the 12th, the stock markets of mainstream countries in Europe and the United States successively opened and collectively fell, and the stock markets of at least 11 countries, such as the United States, Canada, and the Philippines, melted down. At the close of the morning on the 13th, both the Dow Jones Industrial Average and the S & P 500 Index had the largest single-day percentage decline since the 1987 stock disaster. The Dow closed down about 2352 points, the largest drop in history. The bad performance of the stock market quickly passed to the currency market. Beginning at 7 o'clock on the 13th, the price of bitcoin plunged from the position of $ 5,800 once again, dropping all the way, and successively fell below $ 5,000 and $ 4,000. For the rapid decline of the market, many people in the industry believe that the main factor is not only the panic selling of the market, but also the mutual stepping on of contract investors. Weibo blogger "AlbertTheKing" pointed out that most of the long positions in Bitcoin leverage are in the BitMEX perpetual contract market. The long positions caused by the decline in bitcoin prices caused a series of short positions, which in turn caused arbitrage spreads and spot arbitrage. The party rushed in to open multiple orders and sell spot arbitrage at the same time, thinking it was okay. As a result, I did not expect Bitcoin to fall more and more fiercely, and his own arbitrage and long positions also burst. So at first, the leveraged bulls stepped down on each other, and later became the arbitrage party. . "Fhrp" also pointed out that because BitMEX only has BTC margin, ETH's permanent liquidation also needs to be undertaken by btc. The profit portion of the hedge order cannot be included in the margin, and BTC is not sufficient because of the card being in serious shortage. The exploding warehouse order was opaque, so that no one dared to pick up the corpse later, fearing that it would become a corpse. Of course, the key is the lack of a fusing system, so that the market can slowly wait for liquidity to keep up. Under the interweaving of many risks, the price of bitcoin is about 10:15. It has fallen below 3,800 US dollars in many exchanges such as Huobi and OKEx, which is 38% lower than the price of 0 on the day and 50.4% lower than 24 hours ago. This is the highest record in the 24-hour drop since the birth of Bitcoin. Such a precise decline cannot be doubted as the bad taste of the bookmaker behind the exchange, if the bookmaker does exist. Of course, it is not excluded that this situation is due to the tacit understanding among the main market participants, or a purely natural phenomenon. But judging from objective facts, there is indeed some evidence that the situation is unnatural. After bitcoin hit a low of $ 3,800, its price quickly rose in the next 20 minutes, rising by 59% to $ 5,250, but then fell rapidly. At the turning point of $ 3,800, which is 10:16, the BitMEX trading system, the largest bitcoin exchange in the cryptocurrency industry, suddenly stopped until 10:40. It can be seen that the time point when the Bitcoin price stopped falling rapidly and stopped rising rapidly was close to the time point when BitMEX went down and returned to normal. This shows that BitMEX has a huge influence on the secondary market, and it also makes a lot of One suspects BitMEX is manipulating the market. Sam Bankman-Fried, chief executive of Derivatives Exchange FTX, tweeted that he suspects BitMEX may have intentionally closed transactions to prevent further crashes and to avoid using exchange insurance funds. Mining company BitPico also tweeted yesterday, "According to our analysis, BitMEX Research has closed its long position of $ 993 million with its own robots and capital. Today the manipulation of the bitcoin market is caused by an entity and the investigation is ongoing. " In response to this incident, BitMEX responded that there was a hardware problem with the cloud service provider, and in a subsequent announcement, it was pointed out that the DDoS attack was the real cause of the short-term downtime. Why the downtime of the BitMEX trading system is difficult to verify, but from its objective impact, its short-term downtime plays a vital role in curbing the further decline in the price of cryptocurrencies such as Bitcoin, which has eased investment to a certain extent. The panic sentiment created by this has created space for the rebound and correction of cryptocurrency prices such as Bitcoin. Sam Bankman-Fried even speculated that if BitMEX did not go offline because of a "hardware problem" this morning (February 13), the price of Bitcoin could fall to zero. If compared with the traditional financial market, the effect of this BitMEX outage event is quite similar to the "fuse" mechanism of the stock market. Trading is suspended for dozens of minutes at the moment when investor sentiment is most panic, so this outage event Also aroused the emotions of many people in the industry. "BitMEX has helped the currency circle" melt out, "otherwise the chainless stepping will not know where to fall. After the fuse, everyone calmed down and the market returned to normal. Weibo blogger "Blockchain William" posted a blog saying, "The market is not afraid of falling, and it is not afraid of stepping on it. That is why. This is why the global stock market has melted down because investors panic. It is a bottomless pit. Once out of control, there is no bottom Now. " Of course, the factors that cause the market situation to reverse are not limited to this. According to the feedback from multiple users on social platforms, BitMEX and Binance's major exchanges forced the short positions of multiple accounts to close positions at 10 o'clock on March 13th, that is, the automatic lightening mechanism was in effect. According to the BitMEX platform mechanism, when investor contracts are forced to close out, their remaining positions will be taken over by BitMEX's strong closing system. However, if a strong liquidation position cannot be closed in the market, and when the marked price reaches the bankruptcy price, the automatic lightening system will lighten the investor holding the position in the opposite direction, and the order of lightening is determined according to the leverage and profit ratio . Specifically, due to the sharp fluctuations in the price of bitcoin, a large number of long single-series bursts and the scarcity of market liquidity. In order to control the risk, the platform will automatically place some short orders with high profit ratios and high leverage on the market, increasing market flow. It also avoids the risk to the platform caused by the inability of the short-selling order to be executed in a timely manner. According to BitMEX's announcement, about 200 positions were automatically closed by the system. And Twitter blogger Edward Morra said, "On BitMEX alone, short positions worth about $ 500 million have been liquidated." If this data is true, it means that BitMEX's strong liquidation operation has brought more than 5 to the contract market. The market price of 100 million US dollars has a significant positive effect on the market that is being sold out. However, as a compensation, BitMEX also stated that it would contact each damaged user and compensate them according to the maximum potential profit that the investor obtained during the automatic liquidation. In any case, through the operation of exchanges such as BitMEX, the price of bitcoin has entered a recovery channel, and it is still hovering at the $ 5,000 mark, while driving the entire cryptocurrency market to pick up. After this thrilling 24 hours of bitcoin, the ideal "halving market" has disappeared. The real and brutal "halving market" is coming. Perhaps many investors and investment institutions have expressed their confidence in the crypto assets represented by bitcoin. The understanding will change in this regard, and the confidence of the entire industry needs to be rebuilt. This depends on the application value of bitcoin to be deepened.
P95G Market Weekly Report BTC/USD hourly chart The Bitcoin price continued to go sideway during most of the week, as volatility has decreased. The price dropped to $6,500 at one point, and was able to recover and reached $7,200 toward the end of the week. It will retest the $7,400 resistance level again soon, with the current support at $7,000. The BTC price at $7,400 is a key level. If the price breaks above $7,400, it will likely reach $7,650 and test $8,000. However, if the price retraced without breaking through $7,400, it could fall below $7,000 and start a new downward trend. Reviews of the week: According to CoinMetrics, USDC’s market capitalization, which equals the amount in circulation since it trades at par for dollars, has jumped 65 percent, from $444 million on March 1 to $734 million at press time. Jeremy Allaire, the Circle CEO and co-founder, explains that as the global coronavirus crisis is accelerating mainstream adoption of blockchain technology, the startup’s new business model has received an unexpected boost, and this time much of the demand is for payments in normal business transactions, not just to move money quickly between cryptocurrency exchanges. As a stablecoin, USDC is designed to hold its value against the dollar, and backed by real-world dollars held in a bank, for which it can be redeemed on demand. Referring to the stablecoin Circle issues in partnership with Coinbase, he said the past several weeks’ explosive interest and growth in USDC have been witnessed: “there is clearly very significant global demand for digital dollars and the use of digital dollars as a new payment medium.” DCEP (Digital Currency Electronic Payment, DC/EP), which is the name of China’s official central bank digital currency (CBDC), has surfaced with its first mobile wallets being tested at Agricultural Bank of China (ABC). DCEP is reported already in the advanced testing phase in four Tier 1 and Tier 2 cities: Shenzhen, Xiong’an, Chengdu and Suzhou and it is positioning as replacement of M0 and using a two-tier operation delivery system. It shows that it will have the possibility to send and receive offline payments and it is not using a typical blockchain but more of a distributed ledger technology (DLT) style protocol. China is making giant strides in advancing with blockchain technology since China’s president Xi Jinping announced blockchain as one of the country’s technological priorities and advocated to “seize the opportunity” last year. Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice. About Coinviva: Coinviva aims to create the best crypto financial services ecosystem for both institutional and individual investors. We provide reliable fiat funding options, excellent trading liquidity, bank security level custody and one-stop high liquidity provision on-site & off-site. Our founding management team all come from top tiered investment banking (e.g. JP Morgan, Morgan Stanley, Bank of America Merrill Lynch), with fully comprehensive financial institution operation experience. Homepage: https://coinviva.com/ Telegram: https://t.me/coinviva
Coinviva Market Weekly Report - Week of 05/04/2020
BTC/USD Hourly Chart The Bitcoin price was able to break out of the upper Keltner channel at $6,540 and reached as high as $7,285 at one point. It went back to $6,818 which is near the resistance level from last December. The higher highs and higher lows show that the price is back on an upward trend. The BTC price is expected to test the $7,140 resistance next week. If the momentum keeps up, the price can potentially go back to $7,650 in the medium term. For the time-being, wait for the price to break above the Keltner channel again near $7,000 and then enter a long position, with support at around $6,650. Review of the week: Despite the economic downturn induced by the coronavirus pandemic, Kraken CEO Jesse Powell predicts that Bitcoin (BTC) and the crypto industry as a whole will perform well in the months ahead. In an interview with Forbes, Powell reveals that while many companies are laying off workers, the San Francisco-based exchange is increasing its staff by nearly 10% due to an uptick in interest in the cryptocurrency market at large ever since the coronavirus surfaced in China. He says that both the cryptocurrency and traditional markets have their share of retail investors who make trades on a whim, and that Bitcoin has remained relatively stable, with the price rebounding by 30% plus last week. A closely-watched Bitcoin (BTC) whale Joe007, who earned $20 million in realized profits on Bitfinex between February and March, says he expects more pain ahead for the global economy and predicts waves of volatility as governments push to prop up traditional markets and combat a devastating loss of jobs: “It is going to be the biggest economic shock of our generation. It will unfold in waves and over time, giving false hopes and then crushing them. The focus of the crisis will be shifting through different areas. Attempts to alleviate and solve one crisis will lead to more mess.” He expects investors to continue shifting assets to US dollars – a dynamic that pummeled equities and the crypto markets in March. In a letter to investors, CEO and co-founder of Quantum Economics, Mati Greenspan, says Bitcoin’s recent crash, along with traditional markets, is not surprising. He argues that concerns are overblown regarding whether the leading cryptocurrency still has a future after the volatile pullback: “There seems to be an existential question going around the crypto market at the moment where people are saying that if bitcoin can’t rise in this environment then it probably doesn’t have much of a reason to exist at all. After all, the narrative of using bitcoin as a safe haven in times of financial stress has been a rather strong one throughout the years and so now should really be BTC’s time to shine. Bitcoin was invented to give us an alternative to money that is controlled by governments and banks. The volatility is largely due to the fact that it’s quite new and adoption rates are unstable, which leads to large levels of speculation. So, a measure of success would be to see bitcoin remain on a slow but steady incline, rather than zooming towards the moon due to global uncertainty.” Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice. About Coinviva: Coinviva aims to create the best crypto financial services ecosystem for both institutional and individual investors. We provide reliable fiat funding options, excellent trading liquidity, bank security level custody and one-stop high liquidity provision on-site & off-site. Our founding management team all come from top tiered investment banking (e.g. JP Morgan, Morgan Stanley, Bank of America Merrill Lynch), with fully comprehensive financial institution operation experience. Homepage: https://coinviva.com/ Telegram: https://t.me/coinviva
Edit: I'm adding this in, 11/14/17: I highly recommend you watch the aphelion AMA and read my response here: https://www.reddit.com/NEO/comments/7cwfkz/z/dptc7tl Hello everyone, So as the title says, I've come to the conclusion that this ICO is either a money dump or straight out scam. While ICOs are the bread and butter of the crypto world right now, and another ICO on Neo would be awesome, this has thrown up way to many red flags. I personally won't be investing, and I'll break down why. First though, here's a list of questions I asked in their subreddit, and the responses they gave: Questions I asked some questions in their Subreddit: I'll give the questions and answers here:
1.Why the timing of your ico? Literally the day before bitcoins largest hardfork is the day you decide to start your ICO?
They did a great job of side stepping the question by answering it without answering it. Personally, I'd hold an ICO before a bitcoin fork too, if I knew that the price of everything was probably going to skyrocket right after the fork.
2.Could you please clarify the role of the 'advisors' on your team? In my experience, advisor could mean quite a bit or almost nothing.
We consider all advisors to be part of our team. Some of those advisors are working more than full time on Aphelion and some are available to lend advice where they have expertise.
So their advisers range from basic questions to working more than full time. Fair enough, I'll give them that.
3.You appear to be asking for quite a bit of money. Between 27 and 35 million dollars at today's prices. That's quite a bit of money. Can you explain the history of your team, and their roles in managing that sum of money? Perhaps A breakdown of costs, salaries, anticipated expenses, ect.
We have a use of proceeds outlined in our white paper. Each of our founders have experience operating multi-million dollar operations. Key players in Aphelion at the moment are not on salary.
To be clear, these people are trying to raise THIRTY. MILLION. DOLLARS. That's more than two million dollars a person if you include all their advisors, or 15 million dollars each if you only count the two founders. To put that in perspective, they're trying to raise Ten million dollars more than Ethereums original ICO and twenty million dollars more than Neo itself raised. For an exchange.
4.Can you give details on who in your team has experience in blockchain programming and will be the primary party responsible for heading the program? From what I see, you have two founders, neither of whom have given evidence that they have the ability to take on this sort of task.
Joel, noted on our homepage, has extensive blockchain programming experience and manages a robust team. We also have Adi as an advisor from Applied Blockchain. We are fully confident in our team’s ability and we are excited to grow our team in the future.
Ya know, after I got this answer, I went ahead and looked at Joel. (Who is listed as an adviser still, by the way) From what I can tell, 'Extensive blockchain programming experience' means almost none really. Here's the facebook page of the company he represents: https://www.facebook.com/allcodecom/ Only until the most recent few months has there ever even been a mention of blockchain technology. Going back and back, at no point is bitcoin, ethereum, or really anything to do with Crypto technology even mentioned before very recently. According to the linkedin page, allcode has a team of...5. Including Joel. I'm not blown away or really convinced.
5.In a similar vein, could you please be breakdown the details of how you plan to exchange neo? In terms of selling them at market cost, when, ect.
There are simply too many variables to give you an answer on this. We do not have control over market pricing.
Also, fair enough.
6.You say on your website that you plan on being based in St. Kitts. Why the switch to there from Barcelona like had been previously stated?
We have never sated that Aphelion is based in Barcelona. Aphelion has always been based in Nevis.
7.You state in your road map that you both retained legal counsel and came up with the concept by Q2 of this year. Would you be willing to provide evidence for this via email if requested?
Our legal counsel has advised us not to disclose any legal communications with unknown third parties.
Yeah, I wouldn't either, considering. I'll tell ya what aphelion Token: PM me for an email address. If you can you provide any evidence that you came up with the concept and/or research of a decentralized cryptocurrency market before March 31st of 2017 with a time dated email, I'll put in 50 neo into the ICO.
8.It appears that you've taken some time to contact the neo team in any capacity. Considering neo has only had one (mostly) successful ICO so far, it's pretty surprising to some members of CoZ that your certain to correctly pull it off without a hitch with zero help. Do you still remain as confident as before?
Does this question have a typo? We have taken the time to outreach both NEO and CoZ and have had conversations with both. We are not working directly with NEO or CoZ, but they have been kind and helpful to answer questions for us. We are highly confident that we will have a successful venture.
Yeah, I've reached out to Neo and CoZ too. CoZ was pretty surprised that you took as long as you did to contact them in regards to how your ICO would work. That Aphelion only began communicating in the last month or so is quite surprising.
9.Your whitepaper and roadmap do not state a minimum funding goal. Should you only manage to reach the paltry sum of 25 million dollars, will you be refunding your investors?
Let’s first clarify that $25M is not a paltry sum. We have a minimum funding goal of $2M and are confident we will far surpass that goal. In the event of unsold tokens, they will be burned
Yeah...it still doesn't mention the minimum funding goal in the whitepaper, nor if you fail to reach the minimum if you'll be refunding your investors. summary I've seen a lot of youtubers and Twitter users shilling this. A remarkable amount of them aren't including any disclosure that they're doing it for their social media bounty, unfortunately. Shilling at this level throws me off a lot, especially when it's from that suppoman turd. If you've reached this far, you've read most of my concerns, but I have another I'd like to add: What they are asking for amounts to about 1.2 million neo at current prices. Remember what the ultimate usage of what the Neo token represents: Voting power for consensus nodes and future blockchain decisions. If they reach their goal, they will have enough to represent 1.8 percent of the total voting rights for today's circulating Neo.That's sort of like giving one american the right to vote five million times in one election. Based on everything you've seen so far, do you feel as though these are the people you trust with that much power? Caveat emptor.
Chromapolis FUD: Stop the nonsense. (RE: The Ian Balina Scandal)
This piece was originally posted here by an anonymous writer, but I thought that it hadn't received enough views to truly defend the team. I'm sure many of you saw the Ian Balina ICO pool scandal here, but I thought it unfairly dragged down Chromaway's name with it. ---------------------------------------------- There has been massive amounts of FUD going around the ICO community–some accusations are well-founded, and I understand the confusion and anger. I’m not here to defend the actions of the team, and I’m not here to say that they have reacted in the best way possible. Nor am I here to defend the actions of Ian Balina. I am, however, here to defend the characters of the ChromaWay team and the accomplishments and contributions they have made to the blockchain industry. First of all, Alex Mizrahi has contributed more to the development of this fascinating industry than 99.99% of ICO participants. The ChromaWay team, led by Alex, were the first to create a protocol capable of issuing tokens, called “colored coins” at the time (circa 2011~2012). The concept was so new at the time that he even had to quote Meni Rosenfield on what “colored coins” were:
By the original design bitcoins are fungible, acting as a neutral medium of exchange. However, by carefully tracking the origin of a given bitcoin, it is possible to “color” a set of coins to distinguish it from the rest. These coins can then have special properties supported by either an issuing agent or a Schelling point, and have value independent of the face value of the underlying bitcoins. Such colored bitcoins can be used for alternative currencies, commodity certificates, smart property, and other financial instruments such as stocks and bonds.
What were you doing to help this revolution? They may have made mistakes--after all it is their first ICO. But it’s not fair to attack their character based on miscommunications and mistakes, that ultimately have no long-term effects on the project. If you have a problem with the way they have communicated with the community and investors that is completely reasonable. But do not start acting out character assassinations on people that have been building infrastructure in the space for years simply because you are unhappy with their inexperience in PR relations and communications. Come at them with your concerns not your vitriol. Creating anonymous posts where all you do is bash on them without providing constructive criticism will only create more problems. To add onto this, this article has been making the rounds and makes a lot of assumptions and straight out unfounded accusations. To be more specific near the end they call out an influencer known as “TheGobOne” as having been fined $400,000 by the SEC because of pooling. First of all TheGobOne is a Canadian citizen and is not governed by the SEC. And by his own word has not been in contact or been contacted by them in regards to pooling funds. To create entirely false talking points to support your narrative is as disingenuous as possible. Why the author felt the need to spread lies to try and support his point shows a clear alterior motive in trying to character assassinate influencers and team members associated with the project, rather than coming at them with purely fact based concerns. Above: TheGobOne refuting claims he was fined by the SEC in his Discord Announcements channel earlier today. Everyone in the blockchain space has been a bit on edge lately because of the serious market downturn. If you’re an investor you’ve been feeling the heat of the giant -70%+ losses on altcoins. Feeling frustrated at that is completely natural but in the end we have to make sure we don’t explode at projects and people that have little to do with our own down investments. There are teams and projects that are simply trying to build something they believe the space needs. Let’s try to make the crypto community stronger and come together to help these developers make the best projects they can. Without bombarding them with negativity for every mistake they make on the way there. Ending on a lighter note, you can see Alex’s true character in a funnily relevant thread from 2012 titled “fuck this shit, I want my own blockchain!” where he says:
I understand that many community members won't like some of these features, but the goal here is to try new things, not to get some people rich. If you don't like it, then forget about it. If nobody likes it, I have other things to do.
When a capitalist tries to sell his product or service for the highest price they can get, they are seen as greedy. When a worker tries to sell their labor for the highest price they can get, they are seen as noble and deserving. (488 points, 138 comments)
Liberals: We need to end the two party system! *Howard Schultz announces possible presidential run as an independent * Liberals: WOAAAHH THERE BUDDY SLOW DOWN! (444 points, 54 comments)
I'm looking forward to the Democratic Primary because it's going to be one giant competition on who can give people the most free things. (408 points, 132 comments)
Navigating the Fundamental Analysis in Crypto (part 1)
Hi BitcoinMarkets , I am the owner of taughtu and we post trading and business articles every week teaching people something new. Since the market has been heating up lately, I wanted to share an article we recently did on fundamental analysis in crypto that I think you will enjoy! Definitely a must read before alt season. ------------------ One of the most overlooked skills in cryptocurrency, Fundamental Analysis, is the minimum one requires to preserve their capital in a highly volatile market like crypto. But what exactly is it? Introduction to Fundamental Analysis If you are good at SWOT analysis, or at least know what it is, then you are already on the right track. Traditional analyses do not work in crypto, in that a single day can wipe off billions of dollars from a project’s valuation or ‘pump’ its value by 2-10x in a day during an ‘altseason’ (yes, we will see one again). Generally speaking, one has to modify the traditional SWOT analysis and calibrate it to suit one’s own style. Moreover, the ‘standard framework’ is not suitable for crypto assets. How exactly, would obviously depend on what you are looking for in a project. More on that later. How will you get better at it? The more you analyze projects and try to find their shortcomings, the better you will become, and during this process, develop your own ‘style’. The rationale to look for shortcomings in a project is due to the fact that no project will highlight their weaknesses (and what is funny is, many projects know their weaknesses but do not care). Hence, starting to look into a project with a negative bias is always beneficial. There are three pillars to fundamental analysis in my opinion:
The project itself
The ‘blockchain level’ competition
The real world industry/application domain the project is targeting
1 - The Project It is crucial to know first, what exactly is the project trying to achieve. Many projects’ homepage doesn’t even say that. Knowing what the project aims to do would help you figure out whether the project is really required, or, can it really survive and become a full fledged currency/company. Then comes the investigation about the team, its composition, experience, vision etc. Has the team ‘doxxed’ itself, if not, do they have a solid reason for that? Are the team’s linkedin, githubs available for review? A team which is open about their experience gets plus points from me. But it is always a double edged sword, in that some projects which are at nascent stage, and no information about the team might go on to give the most returns due to undervaluation resulting from the uncertainty about the team. E.g. – Luxcore project went parabolic due to this factor, as people were betting heavily on ‘what if factor’ about the team. Interestingly, my favorite cryptocurrency project has an anon team still, even though I have a decent investment in them. My reasoning is that I am willing to take that risk, and having seen their work, I am confident that the devs know their game, and team disclosure in future will only help the project’s credibility, not the other way around. To conclude the first point, I will come to the main question – Is this project really required? We have so many privacy clones, PoS projects, ‘DAPPs’ projects (biggest meme of them all), ‘fast transaction’ based crypto currency and so on. The top 200 is overcrowded, and full of similar ideas, and I believe 80% of them will eventually die. The goal is to find the ones with a high chance of survival. So the idea has to impress me, generally in the first 2-4 minutes. Personally, if it is not unique enough, or ambitious enough, my excitement and attention starts to dwindle. And all this is before I even open the white paper. The amount of time and deep dive I do into the white paper depends on the above process. Whitepapers, in general, are intended to describe the project to a layman. What I have observed is, most people tend to skip any mention of technology/algo/implementation, thinking ‘I do not have a technical background’, and this is where some get it wrong. Spend some time to investigate those terms/ideas (Google is always your friend, IF we do not get into the data stealing aspect). By this time, one would be in a position to ascertain what exactly the project aspires to do, and the real world problem they are trying to solve. Essentially, a project has to solve a real world problem, or a problem with the blockchain technology itself, or improvise upon an existing idea by a big margin. 2 - The Competition This is the most important factor after the initial ‘vetting’ of the project. A good team will always know their competition, and focus on doing things better than them, and innovate further. If this is not true for a project, then the ONLY thing going for the project would be the difference in the respective valuations. For e.g. ,why do we need a new privacy coin, when we have projects like Monero and Zecash, which have progressed quite a bit technologically, have a big community backing them, and of course significant cash stockpile. To build up on this example, most privacy clones will die, leaving the space for the innovators to capture. There are various factors which have to be considered when we compare a big cap incumbent and a low cap challenger (to be discussed in subsequent articles). Personally, I am always inclined to bet on low/micro cap projects aiming to take on the more established ones, and envision to take the innovation to next level. To elaborate, consider an example – If project A is at $500 million+ (IN A BEAR MARKET), and a microcap, lets call it project B, have technology parity, or slightly better technology(project B), then I see no reason for it to not grow to compete with A. This is exactly where the most gains are made. But there is a risk associated with this approach – what if there is a mega ‘FUD’ hitting the project, or team gets entangled in financial issues, or maybe goes under 51% attack etc.? Some examples being $CAL, $XHV etc. If a microcap’s reputation takes a beating, it takes them significantly more time to regain credibility than their big cap competition (more on all these points in the next article). To wrap up this section, success of a project also highly depends on the competition, market dynamics, and the community backing it. 3 - The Real World Now even though fully decentralized organizations are at least 7-10 years away, for me, a project has to solve a real world problem, or a problem with the blockchain technology itself. For e.g. the logistics industry, where incorporating blockchain technology can help improve efficiencies. Another example is migration of traditional technology infrastructure of existing big companies to a decentralized one. These are mere examples. My point is, projects targeting such domains and aiming to solve real world problems, are the most probable to get adopted the fastest (adoption is not merely building more wallets, or having crypto stored in phones. That’s just the financial domain, albeit the most resilient one. More on it in the next article). To add to the point, the lesser the competition to such projects, higher the chances of success. Another approach is looking into the projects aiming to improve blockchain technology, for e.g. say the projects improving and/or enhancing Ethereum ecosystem, or bring innovation in the blockchain space, for e.g. STO focussed projects. Discussing further about the real world opportunities/domains where blockchain projects can contribute and add value(numerous) is out of scope of this introductory article. Conclusion To sum up, the above 3 steps to fundamental analysis can greatly help one to analyze the inherent value a project offers. However, these cover just a basic review of the project. There are more detailed aspects which are crucial to take a measure of a given project, viz. token economics, team finances, community, code review/audit, regulations, whether the token is actually required, what to do if you are from a non-technical background etc. These topics will be covered in subsequent articles in this series. Always DYOR! Hope these ideas help at least some of you. Written by @le_lannister taughtu.com
Let’s take a lucky guess that you’re here today because you’ve heard a lot about cryptocurrencies and you want to get involved, right? If you’re a community person, Dogecoin mining might be the perfect start for you! Bitcoin was the first in 2009, and now there are hundreds of cryptocurrencies. These new coins (that operate on their own native blockchain) are called altcoins or alternative coins. One popular altcoin is Dogecoin. It can be bought, sold and traded, just like Bitcoin. It can also be mined! So, what is Dogecoin mining? You’ll know what hardware and what software you need to get started. You’ll also know whether or not Dogecoin mining is for you! So, where would you like to start? The beginning? Great choice. Let’s have a quick look at how Dogecoin got started. A (Very) Short History of Dogecoin In 2013, an Australian named Jackson Palmer and an American named Billy Markus became friends. They became friends because they both liked cryptocurrencies. However, they also thought the whole thing was getting too serious so they decided to create their own. Palmer and Markus wanted their coin to be more fun and more friendly than other crypto coins. They wanted people who wouldn’t normally care about crypto to get involved. They decided to use a popular meme as their mascot — a Shiba Inu dog. https://preview.redd.it/rymnyyz1iil31.png?width=303&format=png&auto=webp&s=f138e3fe56eef9c6b0e7f49b84fefc41fb83e5aa Dogecoin was launched on December 6th, 2013. Since then it has become popular because it’s playful and good-natured. Just like its mascot! Dogecoin has become well-known for its use in charitable acts and online tipping. In 2014, $50,000 worth of Dogecoin was donated to the Jamaican Bobsled Team so they could go to the Olympics. Dogecoin has also been used to build wells in Kenya. Isn’t that awesome! Users of social platforms – like Reddit – can use Dogecoin to tip or reward each other for posting good content. Dogecoin has the 27th largest market cap of any cryptocurrency. Note: A market cap (or market capitalization) is the total value of all coins on the market. So, Dogecoin is a popular altcoin, known for being fun, friendly and kind. It’s a coin with a dog on it! You love it already, don’t you? Next, I want to talk about how mining works… What is Mining? To