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I bought $1k of the Top Ten Cryptos on January 1st, 2018. August update, -71%, special NEM EDITION!!

I bought $1k of the Top Ten Cryptos on January 1st, 2018. August update, -71%, special NEM EDITION!!

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 32 (-71%)
See the full blog post with all the tables here.
tl;dr:
  • purchased $100 of each of Top Ten Cryptos in Jan. 2018, haven't sold or traded, repeated in 2019 and 2020, update y'all monthly. Learn more about the history and rules of the Experiments here.
  • August - solid month for the 2018 Top Ten, led by, ladies and gentlemen (or lady singular, there in the back row, I see you) NEM!!!!! Up over +200% in August.
  • Overall - BTC still way ahead and approaching break-even point, ETH gaining ground, alone in the middle. NEM(!!!) finally escapes last place replaced by DASH.
  • Over three years, cryptos outperforming S&P if I'd taken a similar approach.

Month Thirty Two – Down 71%

2018 Top Ten Summary
August was not quite as strong as all-green July, but still a solid month for the 2018 Top Ten Crypto Index Fund Experiment. The gains were led by (I hope you’re sitting down for this one) (drum roll please) (you’re not going to believe this): NEM(!) which finished the month up over +200%. Really!

Question of the month:

The US Justice Department announced in August that it had seized cryptocurrency from terror groups in the Middle East. How much did they confiscate?

A) $2 million B) $4 million C) $8 million D) $32 million
Scroll down for the answer.

Ranking and August Winners and Losers

Rank since January 2018
Lots of movement this month: all but three cryptos moved positions in August and all but one (NEM!) in the wrong direction. Despite gaining in value, Dash had the biggest slide, down four in the rankings from #24 to #28. ADA fell three and has dropped back out of the Top Ten. XRP, Bitcoin Cash, IOTA, and Stellar each lost one place in the rankings. The lone exception is a big one: XEM(!) climbed an unprecedented 9 spots in August. The last time NEM was in the Top Twenty was May 2019.
After thirty-two months, 50% of the cryptos that started 2018 in the Top Ten have dropped out. NEM, ADA, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, CRO, and most recently, LINK.
August WinnersDon’t call it a comeback, NEM‘s been here for years. Up over +200% in August, NEM crushed the rest of the field. A distant second place was ETH, up +32% on the month.
August Losers – Down -13%, ADA was the worst performing crypto of the month, followed by Bitcoin Cash, down -9%.
For the overly competitive, below is a tally of the winners of the first 32 months of the 2018 Top Ten Crypto Index Fund Experiment. Bitcoin still has the most monthly wins (7). Cardano is a close second with 6 monthly wins. Despite its blockbuster August, NEM has the most monthly losses with 6. Every crypto has at least one monthly win and Bitcoin is unique as the only cryptocurrency that hasn’t lost a month in the 2.5+ years of the Experiment.
Ws and Ls

Overall update – BTC in the lead and inching towards break-even point, followed by second place ETH. NEM escapes last place, replaced by Dash.

Although BTC didn’t make any major moves this month, it continued to slowly but surely approach its break-even point. It is down about -10% since my purchase in January 2018. The initial investment of $100 thirty-two months ago is now worth about $90.
Ethereum is all alone in second place. It had a strong August, it picked up a lot of ground, but is still down -35% since January 2018.
The big story this month is at the bottom: NEM(!) gained +200% in August, crushing its counterparts and leaping out of last place, where it was so comfortable for so, so long. Although still down -83% over the life of the experiment, it moved from 10th place to 6th place in just one month. The new king of the basement is Dash, down -91%. The initial $100 invested in Dash 32 months ago is now worth $8.50.

Total Market Cap for the entire cryptocurrency sector:

The crypto market added nearly $43B in August. The last time we saw a similar level in terms of overall crypto market cap was way back in the fifth month of the 2018 Top Ten Experiment: May 2018.

Bitcoin dominance:

After being stuck in the mid-60s for most of 2020, BitDom dropped significantly this month, down to 57%. For context, the last time BitDom was this low was back in June 2019.
For some more context: since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on $1,000 investment since January 1st, 2018:

The 2018 Top Ten Portfolio gained about $17 this month. If I cashed out today, the $1000 initial investment would return about $287, down -71% from January 2018.
While -71% isn’t something to brag about, the monthly trend is encouraging. Here, take a look at the ROI over the life of the experiment, month by month, for some context:
2018 Top Ten Monthly ROI Summary
So, -71% from a bottom of -88% is moving in the right direction.
Or that’s what I tell myself as I cry myself to sleep nightly.
Hopefully the next stop will be in the -60% range, a level this experiment hasn’t seen in years.
So the Top Ten Cryptos of 2018 are down -71%. What about the 2019 and 2020 Top Tens? Let’s take a look:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,937‬ ($287+ $1,825 +$1,825).
That’s up about +31% for the three combined portfolios, compared to +23% last month. This marks the highest ROI of the three combined portfolios since I added the metric this year.
Here’s a table to help visualize:
Combined ROI on $3k over three years
A +31% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for three straight years, not bad. But surely you’d do better if you invested only in one crypto, right? Depends on your choice. Let’s take a look:

Three year club: shoulda gone with ETH
Only five cryptos have remained in the Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC. Knowing what we know now, which one would have been best to go all in on, at least at this point in the Experiment? Ethereum, easily: the initial $3k would be up +160%, worth over $7800 today. The worst performing at this point is XRP, down -17%.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. Defying global gloom, the S&P 500 reached an all time high in August and is up +31% since the beginning of the Experiment. The initial $1k investment into crypto on January 1st, 2018 would have been worth about $1310 had it been redirected to the S&P.
But what if I took the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments? Here are the numbers:
  • $1000 investment in S&P 500 on January 1st, 2018: +$310
  • $1000 investment in S&P 500 on January 1st, 2019: +$400
  • $1000 investment in S&P 500 on January 1st, 2020: +$90
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,800.
That is up over+27% since January 2018, compared to a +31% gain of the combined Top Ten Crypto Experiment Portfolios.
That’s a 4% swing in favor of the Top Ten Crypto Portfolios! As you’ll see in the table below, this is only the second time since I started recording this metric that crypto has outperformed the S&P had I taken a similar investment approach:

3 x $1k crypto vs. S&P
This is a big turnaround from the 22% difference in favor of the S&P just two months ago.
Although it’s fun to see crypto is in the lead, I’ll leave it to you to decide whether the heart condition you may develop by being in the cryptosphere is worth that +4% edge…

Conclusion:

August was a bit mixed compared to July, but still a very solid month for the 2018 Top Ten. Some interesting developments this month: Bitcoin is now within 10% of the price I paid on January 1st, 2018. ETH had solid gains and NEM(!) had a crazy month, tripling in value and finally climbing out of the basement. At the same time, traditional markets are doing well too: the S&P reached an all time high in August. It will be interesting to see how both markets perform during the final third of a very crazy year.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

A) $2 million
According to federal prosecutors, the US Justice Department seized $2 million worth of cryptocurrency from terror groups in the Middle East including ISIS, al Qaeda, and the al Qassam Brigades.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

Crypto Banking Wars: Can Non-Custodial Crypto Wallets Ever Replace Banks?

Crypto Banking Wars: Can Non-Custodial Crypto Wallets Ever Replace Banks?
Can they overcome the product limitations of blockchain and deliver the world-class experience that consumers expect?
https://reddit.com/link/i8ewbx/video/ojkc6c9a1lg51/player
This is the second part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
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While crypto allows the world to get rid of banks, a bank will still very much be necessary for this very powerful technology to reach the masses. As we laid out in our previous series, Crypto-Powered, we believe companies that build with blockchain at their core will have the best shot at winning the broader consumer finance market. We hope it will be us at Genesis Block, but we aren’t the only game in town.
So this series explores the entire crypto landscape and tries to answer the question, which crypto company is most likely to become the bank of the future?
In our last episode, we offered an in-depth analysis of big crypto exchanges like Coinbase & Binance. Today we’re analyzing non-custodial crypto wallets. These are products where only the user can touch or move funds. Not even the company or developer who built the application can access, control, or stop funds from being moved. These apps allow users to truly become their own bank.
We’ve talked a little about this before. This group of companies is nowhere near the same level of threat as the biggest crypto exchanges. However, this group really understands DeFi and the magic it can bring. This class of products is heavily engineer-driven and at the bleeding-edge of DeFi innovation. These products are certainly worth discussing. Okay, let’s dive in.

Users & Audience

These non-custodial crypto wallets are especially popular among the most hardcore blockchain nerds and crypto cypherpunks.
“Not your keys, not your coins.”
This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets), then it’s not really your crypto. There has always been a close connection between libertarianism & cryptocurrency. This type of user wants to be in absolute control of their money and become their own bank.
In addition to the experienced crypto geeks, for some people, these products will mean the difference between life and death. Imagine a refugee family that wants to safely protect their years of hard work — their life savings — as they travel across borders. Carrying cash could put their safety or money at risk. A few years ago I spent time in Greece at refugee camps — I know first-hand this is a real use-case.

https://preview.redd.it/vigqlmgg1lg51.png?width=800&format=png&auto=webp&s=0a5d48a63ce7a637749bbbc03d62c51cc3f75613
Or imagine a family living under an authoritarian regime — afraid that their corrupt or oppressive government will seize their assets (or devalue their savings via hyperinflation). Citizens in these countries cannot risk putting their money in centralized banks or under their mattresses. They must become their own bank.
These are the common use-cases and users for non-custodial wallets.

Products in Market

Let’s do a quick round-up of some of the more popular products already in the market.
Web/Desktop The most popular web wallet is MetaMask. Though it doesn’t have any specific integration with DeFi protocols yet, it has more than a million users (which is a lot in crypto land!). Web wallets that are more deeply integrated with DeFi include InstaDapp, Zerion, DeFi Saver, Zapper, and MyCrypto (disclosure: I’m an investor and a big fan of Taylor). For the mass market, mobile will be a much more important form-factor. I don’t view these web products as much of a threat to Genesis Block.
https://preview.redd.it/gbpi2ijj1lg51.png?width=1050&format=png&auto=webp&s=c039887484bf8a3d3438fb02a384d0b9ef894e1f
Mobile The more serious threats to Genesis Block are the mobile products that (A) are leveraging some of the powerful DeFi protocols and (B) abstracting away a lot of the blockchain/DeFi UX complexity. While none get close to us on (B), the products attempting this are Argent and Dharma. To the extent they can, both are trying to make interacting with blockchain technology as simple as possible.
A few of the bigger exchanges have also entered this mobile non-custodial market. Coinbase has Wallet (via Cipher Browser acquisition). Binance has Trust Wallet (also via acquisition). And speaking of acquisitions, MyCrypto acquired Ambo, which is a solid product and has brought MyCrypto into the mobile space. Others worth mentioning include Rainbow — well-designed and built by a small indy-team with strong DeFi experience (former Balance team). And ZenGo which has a cool feature around keyless security (their CEO is a friend).
There are dozens of other mobile crypto wallets that do very little beyond showing your balances. They are not serious threats.
https://preview.redd.it/6x4lxsdk1lg51.png?width=1009&format=png&auto=webp&s=fab3280491b75fe394aebc8dd69926b6962dcf5d
Hardware Wallets Holding crypto on your own hardware wallet is widely considered to be “best practice” from a security standpoint. The most popular hardware wallets are Ledger, Trezor, and KeepKey (by our friends at ShapeShift). Ledger Nano X is the only product that has Bluetooth — thus, the only one that can connect to a mobile app. While exciting and innovative, these hardware wallets are not yet integrated with any DeFi protocols.
https://preview.redd.it/yotmvtsl1lg51.png?width=1025&format=png&auto=webp&s=c8567b42839d9cec8dbc6c78d2f953b688886026

Strengths

Let’s take a look at some of the strengths with non-custodial products.
  1. Regulatory arbitrage Because these products are “non-custodial”, they are able to avoid the regulatory burdens that centralized, custodial products must deal with (KYC/AML/MTL/etc). This is a strong practical benefit for a bootstrapped startup/buildedeveloper. Though it’s unclear how long this advantage lasts as products reach wider audiences and increased scrutiny.
  2. User Privacy Because of the regulatory arbitrage mentioned above, users do not need to complete onerous KYC requirements. For example, there’s no friction around selfies, government-issued IDs, SSNs, etc. Users can preserve much of their privacy and they don’t need to worry about their sensitive information being hacked, compromised, or leaked.
  3. Absolute control & custody This is really one of the great promises of crypto — users can become their own bank. Users can be in full control of their money. And they don’t need to bury it underground or hide it under a mattress. No dependence, reliance or trust in any third parties. Only the user herself can access and unlock the money.

Weaknesses

Now let’s examine some of the weaknesses.
  1. Knowledge & Education Most non-custodial products do not abstract away any of the blockchain complexity. In fact, they often expose more of it because the most loyal users are crypto geeks. Imagine how an average, non-crypto user feels when she starts seeing words like seed phrases, public & private keys, gas limits, transaction fees, blockchain explorers, hex addresses, and confirmation times. There is a lot for a user to learn and become educated on. That’s friction. The learning curve is very high and will always be a major blocker for adoption. We’ve talked about this in our Spreading Crypto series — to reach the masses, the crypto stuff needs to be in the background.
  2. User Experience It is currently impossible to create a smooth and performant user experience in non-custodial wallets or decentralized applications. Any interaction that requires a blockchain transaction will feel sluggish and slow. We built a messaging app on Ethereum and presented it at DevCon3 in Cancun. The technical constraints of blockchain technology were crushing to the user experience. We simply couldn’t create the real-time, modern messaging experience that users have come to expect from similar apps like Slack or WhatsApp. Until blockchains are closer in speed to web servers (which will be difficult given their decentralized nature), dApps will never be able to create the smooth user experience that the masses expect.
  3. Product Limitations Most non-custodial wallets today are based on Ethereum smart contracts. That means they are severely limited with the assets that they can support (only erc-20 tokens). Unless through synthetic assets (similar to Abra), these wallets cannot support massively popular assets like Bitcoin, XRP, Cardano, Litecoin, EOS, Tezos, Stellar, Cosmos, or countless others. There are exciting projects like tBTC trying to bring Bitcoin to Ethereum — but these experiments are still very, very early. Ethereum-based smart contract wallets are missing a huge part of the crypto-asset universe.
  4. Technical Complexity While developers are able to avoid a lot of regulatory complexity (see Strengths above), they are replacing it with increased technical complexity. Most non-custodial wallets are entirely dependent on smart contract technology which is still very experimental and early in development (see Insurance section of this DeFi use-cases post). Major bugs and major hacks do happen. Even recently, it was discovered that Argent had a “high severity vulnerability.” Fortunately, Argent fixed it and their users didn’t lose funds. The tools, frameworks, and best practices around smart contract technology are all still being established. Things can still easily go wrong, and they do.
  5. Loss of Funds Risk Beyond the technical risks mentioned above, with non-custodial wallets, it’s very easy for users to make mistakes. There is no “Forgot Password.” There is no customer support agent you can ping. There is no company behind it that can make you whole if you make a mistake and lose your money. You are on your own, just as CZ suggests. One wrong move and your money is all gone. If you lose your private key, there is no way to recover your funds. There are some new developments around social recovery, but that’s all still very experimental. This just isn’t the type of customer support experience people are used to. And it’s not a risk that most are willing to take.
  6. Integration with Fiat & Traditional Finance In today’s world, it’s still very hard to use crypto for daily spending (see Payments in our DeFi use-cases post). Hopefully, that will all change someday. In the meantime, if any of these non-custodial products hope to win in the broader consumer finance market, they will undoubtedly need to integrate with the legacy financial world — they need onramps (fiat-to-crypto deposit methods) and offramps (crypto-to-fiat withdraw/spend methods). As much as crypto-fanatics hate hearing it, you can’t expect people to jump headfirst into the new world unless there is a smooth transition, unless there are bridge technologies that help them arrive. This is why these fiat integrations are so important. Examples might be allowing ACH/Wire deposits (eg. via Plaid) or launching a debit card program for spend/withdraw. These fiat integrations are essential if the aim is to become the bank of the future. Doing any of this compliantly will require strong KYC/AML. So to achieve this use-case — integrating with traditional finance —all of the Strengths we mentioned above are nullified. There are no longer regulatory benefits. There are no longer privacy benefits (users need to upload KYC documents, etc). And users are no longer in complete control of their money.

Wrap Up

One of the great powers of crypto is that we no longer depend on banks. Anyone can store their wealth and have absolute control of their money. That’s made possible with these non-custodial wallets. It’s a wonderful thing.
I believe that the most knowledgeable and experienced crypto people (including myself) will always be active users of these applications. And as mentioned in this post, there will certainly be circumstances where these apps will be essential & even life-saving.
However, I do not believe this category of product is a major threat to Genesis Block to becoming the bank of the future.
They won’t win in the broader consumer finance market — mostly because I don’t believe that’s their target audience. These applications simply cannot produce the type of product experience that the masses require, want, or expect. The Weaknesses I’ve outlined above are just too overwhelming. The friction for mass-market consumers is just too much.

https://preview.redd.it/lp8dzxeh1lg51.png?width=800&format=png&auto=webp&s=03acdce545cd032f7e82b6665b001d7a06839557
The winning bank will be focused on solving real user problems and meeting user needs. Not slowed down by rigid idealism like censorship-resistance and absolute decentralization, as it is with most non-custodial wallets. The winning bank will be a world-class product that’s smooth, performant, and accessible. Not sluggish and slow, as it is with most non-custodial wallets. The winning bank will be one where blockchain & crypto is mostly invisible to end-users. Not front-and-center as it is with non-custodial wallets. The winning bank will be one managed and run by professionals who know exactly what they’re doing. Not DIY (Do It Yourself), as it is with non-custodial wallets.
So are these non-custodial wallets a threat to Genesis Block in winning the broader consumer finance market, and becoming the bank of the future?
No. They are designed for a very different audience.
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Other Ways to Consume Today's Episode:
Follow our social channels: https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
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Weekly Update: First ParJar Pilot Class, Constellation partners with Chainlink, $BAT on 2gether, Pynk on BlockMAG... – 11 Oct - 17 Oct'19

Weekly Update: First ParJar Pilot Class, Constellation partners with Chainlink, $BAT on 2gether, Pynk on BlockMAG... – 11 Oct - 17 Oct'19
Hi everyone! Here’s your week at Parachute + partners (11 Oct - 17 Oct'19):

The first ParJar Pilot Class is officially off to a roaring start with 5 amazing projects and their communities. Here’s to a great future. This was the perfect occasion to announce a ParJar Battle Royale for our ParJar Pilot partners. Blood will be spilled next week. Pow! ParJar now has almost 20k active users. It works in 400+ communities and has seen 400k+ transactions. Say what! Par4Par lottery entered stage 5 this week. The stakes are even higher. 250k $PAR in prizes. Dang! Reflecting on Vitalik Buterin’s observation, Cap says: “...we’ve done things in reverse here at Parachute - we grew an amazing community around exploring ideas and built our tech to meet what they needed”. What are your thoughts on buying houses for USD 1 each in an Italian town for building the Parachute village? Cap’s recommendation. Haha.
Andy’s Advent calendar. Each window is a 16.9 oz can of beer. Sweet!
We saw Tiproom become the 17th most active group on Telegram a few weeks back. Well, hold on to your pants because it is now the 12th most active group. Whoa! A big reason for the group’s constant buzz are the amazing trivias hosted by the TTR crew. This week was no different. Doc Victor’s Sunday medical trivia had 8 Qs, 3k $PAR each. This was a quiz with a twist. In Doc’s words: "..beware, in each question they will have to diagnose a case based on symptoms and signs that I will give them". Noice! Charlotte’s Tuesday Trivia had 10 questions with a 25k $PAR prize pool. Another trivia by Victor (not the Doc) had another 10 Q’s, 2500 $PAR each. Listened to the TTR theme yet? DJ Jose in da house with a rocking theme. Wicked! Congratulations to Mario for winning the pet contest in TTR. Sebastian made a compilation video of all the entries. Awww!
Let’s see if Cap’s guerrilla marketing at Burger Joint in NYC gets us a new Parachuter
Victor’s Friday trivia at aXpire was the usual 10 Q, 100 $AXPR per Q affair. And like always, super duper fun! If you missed news from Week 41 at aXpireverse, Joakim’s got your back. Check out his video to catch up. CEO Gary Markham travelled to India this week to prepare for the Bilr release. Click here to track the latest 20k $AXPR burn. Plus, a featured article by Hosting Advice was pretty cool. 2gether added Basic Attention Token ($BAT) support to the app this week. Let the $BAT spending begin! Use the invite code: paywithbat to get 100 $2GT free when you sign up for the app. Know of a startup that’s going to Malta Blockchain Summit? Let the XIO crew know since the team will be attending along with Uptrennd. Benjamin’s tutorial video on market cycles with the BOMB token as case study was riveting and full of useful info. This week’s Dash-walk-the-talk discussion revolved around getting unstuck as an entrepreneur. After taking inputs from the community 2 weeks back, the BOMB Board finalised on the team and way forward to manage the BOMB Instagram. For the latest update on the Birdchain app, click here. Congratulations to Bounty0x for crossing 2.5x of its funding goal on Republic with more than 2 months to go. Voyager is offering a 5% annual interest on ETHOS tokens held on their platform. Read more about it here. The news was also covered by SludgeFeed. Wendy O shared her usability experience of Voyager as well.
Bitcoin ATM in Alexis’ neighbourhood. Cool!
The McAfeeDex launched last week is off to a tremendous start. Bitcoin Cash’s Roger Ver spoke briefly on it in a news roundup video. 6 portals are live already. If you’re still wondering how to list your token on the Dex, here’s a simple guide from the man himself. Binance Chain support coming soon! SwitchDex is now trackable on DappRadar and State of the DApps. The team has set up a dedicated TG group for folks wanting to BUIDL on SwitchDex. Also, Callisto Network is slated to do a security audit of the McAfeeDex contracts. Great stuff! Peeps who missed the Fantom AMA with G.Crypto from 2 weeks back, can catch up from the transcript released this week. The latest technical update is detailed and covers all major changes in code. Uptrennd started a new video intro contest for a 2500 $1UP prize pool. Woot! Full transcript of Jeff’s interview with OmiseGo CTO Kasima from few weeks back was released this week. $1UP can now be spent in tons of retail chains thanks to a newly forged partnership with MobiePay. Last week we saw Jarau buy a laptop with his Uptrennd earnings. This week we learnt about Zubair buying a mobile phone with his $1UP earnings. Neat! The latest biweekly Dev update and weekly District update from Ditrict0x covers news such as Ethlance redesign, Meme factory NSFW filter etc.
Uptrennd continues to breach new heights on Alexa rankings every week

OST has set up a community slack to coordinate all Pepo related feedback received for the Pepo app. So join in if you want to help out! Did you know that Pepo is home to some of the most influential people in crypto? This week, we heard from Ethereum and Coinbase investor Bobby Goodlatte. The app crossed 20k P2P transactions and is now live in both app stores. The first such with micro-transactions, in-app purchases and cash-out options for crypto. Few weeks back, the Sentivate community chose to burn tokens (vs a raffle). This week, they voted on how many to burn. The $SNTVT crew sat down for a live Q&A with Bit Shaman this week. The team also wrote about possible future use-cases of the Universal Web with short story threads. Cryptoreview.xyz’s review of the project also came out this week. Constellation announced that it is joining Chainlink as a new node operator in order to stream enterprise data to Chainlink’s smart contracts. Click here for the PR release. The technical overview paper gets into details of what the partnership means for both companies. Bags Token hosted an AMA this week in their Telegram group. Hope you had an opportunity to get your doubts cleared. Community member Con built a $BAGS-centric image/gif board called bagsbook. Check it out! In a bit of a sobering news, Scroll (XD Token) ceased business operations this week.
Constellation will act as an oracle for Chainlink by streaming verified data to the network
Pynk was featured in the latest edition of the BlockMAG published by the Malta Blockchain Summit. COO Rupert Barksfield was invited by NatWest to speak on how to get traction for tech projects. Rupert’s interview by Ayo News where he explains how AI and crowd wisdom works in tandem at Pynk came out as well. Pynk Tank is Pynk's very own think tank intiative which hosts meet ups, panel discussions, podcasts with entrepreneurs, thought leaders etc. Their latest event was this week. Folks who are yet to figure out what Pynk does can read co-founder Zack Yurtsever’s article that explains it all. Following up on the Hydro Vault sneak peek from last week, check out its detailed update on the dev front. How can the Hydro platform be used to get acceleration for your fintech product? Click here to read how. Co-Founder Mike Kane travelled to the AWS Loft in NYC for the Shearman & Sterling Empire Startups Demo Day event to showcase Hydro’s fintech solutions. $HYDRO got listed on the Coinone exchange. This will be $HYDRO's first IDR fiat on-ramp. With bZx joining the Hydro dApp store this week, it now has an impressive line up of partners. Thanks to the massive community push, $HYDRO will be listed on Atomic Wallet in its next release. For a quick summary of the latest news from Hydroverse, click here. Most of these have already been covered in our updates. Silent Notary conducted the first ever speedtest of its IDL network. The team published the results and steps to optimise the code. In its current state, the network is able to execute 5-12 transactions per second. The first version of the SelfKey Corporate Wallet was launched this week. The corporate wallet will allow you to purchase digital services for your business in the future. Plus, a partnership with ChangeNOW allows easy crypto swapping from the marketplace.

And with that, we close for another week in the Parachuteverse. See you soon with another update. Cheers!
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[D] I created forecasting model to forecast cryptocurrency using sentiment data, and this is the result.

dataset and code can get from here, https://github.com/huseinzol05/Stock-Prediction-Models/blob/mastedeep-learning/sentiment-consensus.ipynb

How we gather the data, provided by Bitcurate, bitcurate.com

Because I don't have sentiment data related to stock market, so I will use cryptocurrency data, BTC/USDT from binance.
  1. close data came from CCXT, https://github.com/ccxt/ccxt, an open source cryptocurrency aggregator.
  2. We gather from streaming twitter, crawling hardcoded cryptocurrency telegram groups and Reddit. And we store in Elasticsearch as a single index. We trained 1/4 layers BERT MULTILANGUAGE (200MB-ish, originally 700MB-ish) released by Google on most-possible-found sentiment data on the internet, leveraging sentiment on multilanguages, eg, english, korea, japan. Actually, it is very hard to found negative sentiment related to bitcoin / btc in large volume.
And the we use elasticsearch-dsl, https://elasticsearch-dsl.readthedocs.io/, to query,
s = s.filter( 'query_string', default_field = 'text', query = 'bitcoin OR btc', )
We only do text query only contain bitcoin or btc.

Consensus introduction

We have 2 questions here when saying about consensus, what happened,
  1. to future price if we assumed future sentiment is really positive, near to 1.0 . Eg, suddenly China want to adapt cryptocurrency and that can cause huge requested volumes.
  2. to future price if we assumed future sentiment is really negative, near to 1.0 . Eg, suddenly hackers broke binance or any exchanges, or any news that caused wreck by negative sentiment.
So, we use deep-learning to simulate for us! I use CNN-Seq2Seq architecture this time, not required to bring last memory like RNN and fast to train.

Step

  1. We pulled last 100 hours data and aggregated every 20 minutes, Split the dataset to train and test. Test size is last 10 hours (30 datapoints, 3 * 10), and early remaining use to train.
  2. Initiate the model and train the model by 200 epochs. learning_rate is very sensitive, I found 1e-3 is perfect. Here I never tried to do hyperparameters searching.

Result

https://raw.githubusercontent.com/huseinzol05/Stock-Prediction-Models/masteoutput/sentiment-consensus.png

Discussion

  1. The model learn, if positive and negative sentiments increasing, both will increase the price. That is why, using positive consensus or negative consensus caused price going up.
  2. Volatility of price is higher if negative sentiment is higher, still positive volatility.
  3. Momentum of price is higher if negative sentiment is higher, still positive momentum.
  4. Even predicted trends are far from actual test trend, for me, it quite fascinating because I can simulate the models by N times to get different variances and from here I can calculate VaR, potential volatilities and momentums, trading ratios and etc. Well, if forecasted trends follow really close with actual test trend, do not believe it too much, there is no such model able to simulate stochastic trend that depends on a lot of real world parameters.
Any comment or feedback?
submitted by huseinzol05 to MachineLearning [link] [comments]

How Did I Discover Cryptocurrency and Why I Choose BitcoinCash

How Did I Discover Cryptocurrency and Why I Choose BitcoinCash.
One of the first questions always asked in the Crypto sphere is how did you learn about Bitcoin? Then followed up by which coin or coins do you hold?
The answer to this first question is not as easy to answer as you would think. Right before the split between Bitcoin and BitcoinCash I met someone very involved in the community we were discussing how I became a libertarian which naturally lead us to a discussion about economic freedom, Ross Ulbricht and then Bitcoin. The following day I ran home and researched Silk Road and Ross Ulbricht. Five minutes later, I had signed the petition. My interest was piqued, I started to do my own research in regards to Bitcoin. I bought several books but all that did was confuse me more. I started watching YouTube videos and remember thinking to myself “who are these people” and “are they even speaking English” but I kept researching determined to learn about economic freedom, I just couldn’t grasp how someone could gain economic freedom with online money.
Fast forward to the Bitcoin/BitcoinCash fork, I knew this was a big deal but I didn’t know what was going to happen. So I called my friend and set up another time to meet, well this time I was prepared I had my notes laid out from the books I had read and I was pretty proud of myself after all Bitcoin is not easy to understand with words like nodes, Raspberry Pi's (what does pie have to do with economic freedom), miners, QR's, checkpoints, lightning (still waiting) and why only 21 million and do I have to buy a full coin? I mean this list goes on (after all I am much older than the usual crypto enthusiast) little did I know I had already entered the rabbit hole and from the look I received from my friend he knew it. So after 2 days that was it, I needed to get my hands on Bitcoin.
As soon as I got home I joined Coinbase and I saw a few coins listed and thought Bitcoin is really expensive and I can get 4 times the amount with this coin called Litecoin so I put in a buy order for that, Etherum and BitcoinCash. I had never been a huge fan of Social Media but at this time I decided I needed to join Twitter to see what others were experiencing and oh God what a jolt to the senses that was. Everyone tweeting why this and that coin is bad and this person is bad and that person is good, Crypto Twitter can be a shit show especially in the beginning and being new to both Twitter and Crypto my brain was in overload. I followed my friend on Twitter and just started to pay attention to him and basically began stalking his feed and Youtube channel but I never really engaged (I truly felt like a stalker). But I was learning my way around and who did what in their relative fields.
As everyone knows Coinbase can be very frustrating because it seems like forever before you have access to your coins and the whole time I’m thinking what have I done? So a month went by and I finally received an email saying my funds are now available in Coinbase I opened up that app and to my surprise, my money had just quadrupled. I had learned while investing once you make back your initial investment sell that portion and that is exactly what I did! But the damage had been done I was hooked and immediately took that initial investment and bought every altcoin I could get my hands on via Binance, which can seriously do some damage to your wallet.
I still really did not know what to do with Cryptocurrency, there were all these wallets, but why were they needed if all it did was sit there like digital gold. So I started to engage with people on Twitter to discover what others were doing, I didn’t have any followers so outside of a few likes here and there I would never really get any feedback. I asked my friend about this and he started to respond to me and soon after that, others started to respond to me, then I was included in threads and I had my first Crypto Twitter follower, he was no joke and little did I know at that time how much of an influence this person would have in my Twitter and Crypto life. But Crypto Twitter will have to be its own story.
As I started to learn how to navigate my way through Crypto Twitter and began to understand the correct questions to ask I began to get the answers I needed. These questions amounted to where/who accepts crypto and why is this coin better than that coin? The people that came forward were the BitcoinCash community, I couldn’t understand why was it only the BitcoinCash people that would respond to me, after all, there are so many coins out there? But these were the people that had a passion for what they were doing and believed in that passion, from the CEO to the developers down to the end user. It was like a breath of fresh air to find people passionate about rewarding hard work and not caring about who you are and which country you are from along with giving back to communities that are far less fortunate by no fault of their own they just don’t have access to resources that are available to Western Nations, Europe, and Asia. I discovered the philanthropic work was incredible and still to this day I still am overwhelmed by how much the BitcoinCash community does and feel very fortunate to be a part of it.
Downloading wallet after wallet, I discovered some were easy some were difficult and well some were just ridiculous. I started to tag random developers on Twitter and honestly was surprised when they responded to me and offered their help after all these are really busy people why would they take the time to help one person. The reason is simple they want Cryptocurrency to be a success and they understand how difficult it is, especially for an older person who just got her first smartphone 2 years earlier. After learning about the importance of 12-word seed phrases how a QR code works and legacy addresses I now felt comfortable enough to begin introducing people to cryptocurrency and more importantly BitcoinCash. Little did I know how difficult this would be, I mean who doesn’t want money even if it’s free.
After months of interaction on Twitter and other platforms, I decided I needed to do something besides just talking about Crypto I needed to shout it from the rooftops. I desperately wanted to find others around me that I could share my experiences with so I created a Meetup in my area and began talking about it at work with my friends and family I just started telling everyone I ran into have you heard about BitcoinCash? “No” here let me show you” inevitably I started to hear oh that’s for drug dealers or it’s a scam. So now I thought how do I get past this obstacle that CNN and Fox News has put in front of me? I became more determined than ever to beat them at their own game. I had another hurdle to jump, so my path now came to what is an everyday product I can buy with Bitcoincash? Well, there are tons you just have to find them, and since my area of the country is about 10 years behind the rest of the country this was very difficult. But one thing I do a lot is travel and I was about to buy a plane ticket so I found CheapAir.com which accepts BitcoinCash, so I used that and discovered how easy it is, I can literally lay in bed find a flight and/or a hotel and right there without turning on the lights or getting up for my credit card number. What about overcoming only drug dealers use it (which my stepmom throws in my face almost every day) so for Christmas I purchased her some beauty products with BitcoinCash. I am constantly scouring the internet looking for more ways to spend Crypto instead of government-funded cash.
My meetups started out with 2 people 1 of which was my dad to 12 strong and growing (which does not include my dad). That may not seem like many but those 12 people have become strong and confident users of Cryptocurrency and one of them even accepts BitcoinCash for his business.
My story does not end here, and with every day there is a change with some great, some good and some not so good stories. Keep your eyes out for updates to my never ending and exciting Crypto life.
submitted by hifrom_laura to btc [link] [comments]

r/Bitcoin recap - September 2019

Hi Bitcoiners!
I’m back with the 33rd monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in September 2019
Adoption
Development
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

The Case for XRP in 2018

Cryptocurrencies have grown exponentially not only in price this past year but also in public awareness and popular attention. The novel feeling to an emerging financial and technological market is reminiscent of the rise of the Internet with its innovative potential. In turn, a heightened collective societal awareness of this new innovative potential has led to a change in the nature of the market dynamics of cryptocurrencies. As Heisenberg’s Uncertainty Principle posits, “The observation of a phenomenon changes the phenomena itself.” The observation of thousands of young millennials, and now middle-aged investors, will only accelerate the rise of cryptocurrencies as times goes on.
Today, we are seeing the real-world effects of a newfound intrigue into cryptocurrencies. This new interest is causing a narrowing of the divergence between truth and fiction over accurate knowledge about cryptocurrencies. The force drawing this gap narrower each day is an increased dissemination of truthful information that has generated legions of individual investors into new cryptocurrency markets; in particular, Ripple’s XRP.
As the public expands its understanding of Ripple’s XRP, the capital inflow from both individual and institutional investors combined will likely grow to levels that will exponentially grow the liquidity of XRP and, as a byproduct, its price.
Here, in this report, I will provide an overview and analysis of Ripple’s XRP and the implications Q4 2017 and the year 2018 and beyond hold for the future of XRP and its price.
THE CONCEPT: WHAT IS XRP?
XRP is the digital asset used by Ripple to offer financial institutions an option for liquidity to conduct cross-border payments. It is predominantly used for Ripple’s solution for the minimization of liquidity costs. In contrast to most other cryptocurrencies, XRP’s application here features a real-world applicability that extends to real-world transactions. It is used for the xRapid solution provided by Ripple, and is the only one of the three solutions Ripple offers (The others are xCurrent and xVia) that employs the use of XRP.
THE RATIONALE: WHY XRP?
There is a myriad of factors that distinguish XRP from other cryptocurrencies and establish it as a forerunner to what may become the dominant cryptocurrencies in the years that lie ahead.
Cost: Comparatively, XRP has the lowest cost per transaction at $0.0004. In contrast, BCH is $0.26, LTC is $0.37, DASH is $0.64, ETH is $0.96, and BTC is $28.23.
Scalability: XRP can handle over 1,500 transactions per second whereas BCH can handle 24 per second, LTC can handle 56 per second, DASH can handle 10 per second, ETH can handle 16 per second, and BTC can handle 24 per second.
Speed: XRP can conduct transactions at a rate of 3 seconds per transaction, BCH at a rate of 58 minutes per transaction, LTC at 17 minutes per transaction, DASH at 15 minutes per transaction, ETH at 2 minutes per transaction, and BTC 1 hour and 6 minutes per transaction.
XRP’s availability is ever-expanding. It is currently available on over 50 exchanges including Bitstamp, Bithumb, Bittrex, Binance, Bitfinex, Kraken, and Poloniex. The volume of XRP availability is, in addition, in an expansionary phase. The primary location of exchange volume is concentrated in Asia; in particular, South Korea. However, as mainstream media attention increases, so will American interest as well. There already have been tell-tale signs indicative in news outlets that have covered Ripple recently in the wake of XRP’s rise in CNBC, Bloomberg, Forbes, Investopedia, and Yahoo Finance.
Simply consider the mania generated by the media attention to Bitcoin. Repetitive news stories featured on CNBC, Bloomberg, CNN, CBS, and other mainstream media news outlets. Countless articles disparaging it as a bubble and hailing it as a force that could deconstruct the financial apparatus governed by the Federal Reserve and other central banks. Now, consider the results of media attention directed towards the substantive information behind XRP. Once news segments and articles are shown and written that illustrate the comparative superiority of XRP to other cryptocurrencies, then the viewers and readers will likely flock to XRP in pursuit of acquiring a tried, tested, and proven cryptocurrency with real-world usage.
In turn, a virtuous circle intensifying capital inflow to XRP is predictable and probably to occur. We can expect FOMO to rise and a number of oscillations up and down for the price to unfold. Nevertheless, the price of XRP is bound to not only remain but rather accelerate its demonstrated upwards price trajectory pushing us to new heights.
Additionally, if the collective fear among cryptocurrency investors materializes, that is, if new regulations are imposed on our activities, then Ripple is stand to likely gain. Dr. Nassim Nicholas Taleb, a scholar and risk analyst writes about a concept called “Antifragility.” Antifragility is a term used to describe things that gain from disorder. Considering Ripple’s ties to financial institutions and regulators, it wouldn’t be too far-off to speculate that XRP is positioned to gain if such a black swan event were to occur.
FURTHER REASONS TO ADVANCE THE CASE FOR XRP:
Financial institutions, renown investors, and accomplished financiers have already taken notice of XRP. Former Federal Reserve Chairman Ben Bernanke has advocated on Ripple’s behalf. Zoe Cruz, former president for institutional securities and wealth management at Morgan Stanley and former global head of fixed income, commodities, and foreign exchange has joined Ripple’s Board of Directors. She has been named to Forbes list of Most Powerful Women for three years straight.
Perhaps most notably, a consortium of 61 banks – organized by SBI Ripple Asia – will be adopting Ripple’s technology to settle transactions between its members with the eventual goal of applying XRP to usage. Mr. Yoshitaka Kitao, the CEO, Executive Chairman, and President has publicly stated, “Forget about bitcoin, we’re all in on XRP!” In fact, SBI has already confirmed that XRP will be put in usage in Spring 2018. If successful, expect the price to reflect it.
Moreover, TechCrunch Founder Michael Arrington has, as of November 2017, announced a $100 million XRP hedge fund. His efforts have already raised $50 million which will engender a ripple effect of new large net-worth individual and institutional investors. The entity will be called Arrington XRP Capital and new information about its activities are set to be released in the months that lie ahead.
Also, David Schwartz, Ripple’s Chief Cryptographer, has said that there are two major “household” companies (Not financial institutions) that will be announced in Q4. This is likely to provide a substantial boon to XRP.
Finally, the Chief Technology Officer of Ripple, Stefan Thomas, has said that in 2018 there will be a “big push on XRP.” For years, Ripple has kept a relative silence in expressing the superiority of XRP. 2018 will be different. 2018 is bound to be Ripple’s year. I expect the price to rise as high as $10 and as low as $4.
At any rate, this report only scratches the surface of Ripple and XRP’s potential. For far more nuanced and in-depth analysis and information, I suggest reading from Ripple firsthand at www.ripple.com and perusing the best blog on XRP itself at https://xrphodor.wordpress.com/
To the moon, we go.
SOURCE: https://cellardoorway.com/2017/12/24/the-case-for-ripples-xrp-a-brief-overview/
submitted by OttoVonBismarck- to Ripple [link] [comments]

How Did I Discover Cryptocurrency and Why I Choose BitcoinCash

One of the first questions always asked in the Crypto sphere is how did you learn about Bitcoin? Then followed up by which coin or coins do you hold?
The answer to this first question is not as easy to answer as you would think. Right before the split between Bitcoin and BitcoinCash I met someone very involved in the community we were discussing how I became a libertarian which naturally lead us to a discussion about economic freedom, Ross Ulbricht and then Bitcoin. The following day I ran home and researched Silk Road and Ross Ulbricht. Five minutes later, I had signed the petition. My interest was piqued, I started to do my own research in regards to Bitcoin. I bought several books but all that did was confuse me more. I started watching YouTube videos and remember thinking to myself “who are these people” and “are they even speaking English” but I kept researching determined to learn about economic freedom, I just couldn’t grasp how someone could gain economic freedom with online money.
Fast forward to the Bitcoin/BitcoinCash fork, I knew this was a big deal but I didn’t know what was going to happen. So I called my friend and set up another time to meet, well this time I was prepared I had my notes laid out from the books I had read and I was pretty proud of myself after all Bitcoin is not easy to understand with words like nodes, Raspberry Pi's (what does pie have to do with economic freedom), miners, QR's, checkpoints, lightning (still waiting) and why only 21 million and do I have to buy a full coin? I mean this list goes on (after all I am much older than the usual crypto enthusiast) little did I know I had already entered the rabbit hole and from the look I received from my friend he knew it. So after 2 days that was it, I needed to get my hands on Bitcoin.
As soon as I got home I joined Coinbase and I saw a few coins listed and thought Bitcoin is really expensive and I can get 4 times the amount with this coin called Litecoin so I put in a buy order for that, Etherum and BitcoinCash. I had never been a huge fan of Social Media but at this time I decided I needed to join Twitter to see what others were experiencing and oh God what a jolt to the senses that was. Everyone tweeting why this and that coin is bad and this person is bad and that person is good, Crypto Twitter can be a shit show especially in the beginning and being new to both Twitter and Crypto my brain was in overload. I followed my friend on Twitter and just started to pay attention to him and basically began stalking his feed and Youtube channel but I never really engaged (I truly felt like a stalker). But I was learning my way around and who did what in their relative fields.
As everyone knows Coinbase can be very frustrating because it seems like forever before you have access to your coins and the whole time I’m thinking what have I done? So a month went by and I finally received an email saying my funds are now available in Coinbase I opened up that app and to my surprise, my money had just quadrupled. I had learned while investing once you make back your initial investment sell that portion and that is exactly what I did! But the damage had been done I was hooked and immediately took that initial investment and bought every altcoin I could get my hands on via Binance, which can seriously do some damage to your wallet.
I still really did not know what to do with Cryptocurrency, there were all these wallets, but why were they needed if all it did was sit there like digital gold. So I started to engage with people on Twitter to discover what others were doing, I didn’t have any followers so outside of a few likes here and there I would never really get any feedback. I asked my friend about this and he started to respond to me and soon after that, others started to respond to me, then I was included in threads and I had my first Crypto Twitter follower, he was no joke and little did I know at that time how much of an influence this person would have in my Twitter and Crypto life. But Crypto Twitter will have to be its own story.
As I started to learn how to navigate my way through Crypto Twitter and began to understand the correct questions to ask I began to get the answers I needed. These questions amounted to where/who accepts crypto and why is this coin better than that coin? The people that came forward were the BitcoinCash community, I couldn’t understand why was it only the BitcoinCash people that would respond to me, after all, there are so many coins out there? But these were the people that had a passion for what they were doing and believed in that passion, from the CEO to the developers down to the end user. It was like a breath of fresh air to find people passionate about rewarding hard work and not caring about who you are and which country you are from along with giving back to communities that are far less fortunate by no fault of their own they just don’t have access to resources that are available to Western Nations, Europe, and Asia. I discovered the philanthropic work was incredible and still to this day I still am overwhelmed by how much the BitcoinCash community does and feel very fortunate to be a part of it.
Downloading wallet after wallet, I discovered some were easy some were difficult and well some were just ridiculous. I started to tag random developers on Twitter and honestly was surprised when they responded to me and offered their help after all these are really busy people why would they take the time to help one person. The reason is simple they want Cryptocurrency to be a success and they understand how difficult it is, especially for an older person who just got her first smartphone 2 years earlier. After learning about the importance of 12-word seed phrases how a QR code works and legacy addresses I now felt comfortable enough to begin introducing people to cryptocurrency and more importantly BitcoinCash. Little did I know how difficult this would be, I mean who doesn’t want money even if it’s free.
After months of interaction on Twitter and other platforms, I decided I needed to do something besides just talking about Crypto I needed to shout it from the rooftops. I desperately wanted to find others around me that I could share my experiences with so I created a Meetup in my area and began talking about it at work with my friends and family I just started telling everyone I ran into have you heard about BitcoinCash? “No” here let me show you” inevitably I started to hear oh that’s for drug dealers or it’s a scam. So now I thought how do I get past this obstacle that CNN and Fox News has put in front of me? I became more determined than ever to beat them at their own game. I had another hurdle to jump, so my path now came to what is an everyday product I can buy with Bitcoincash? Well, there are tons you just have to find them, and since my area of the country is about 10 years behind the rest of the country this was very difficult. But one thing I do a lot is travel and I was about to buy a plane ticket so I found CheapAir.com which accepts BitcoinCash, so I used that and discovered how easy it is, I can literally lay in bed find a flight and/or a hotel and right there without turning on the lights or getting up for my credit card number. What about overcoming only drug dealers use it (which my stepmom throws in my face almost every day) so for Christmas I purchased her some beauty products with BitcoinCash. I am constantly scouring the internet looking for more ways to spend Crypto instead of government-funded cash.
My meetups started out with 2 people 1 of which was my dad to 12 strong and growing (which does not include my dad). That may not seem like many but those 12 people have become strong and confident users of Cryptocurrency and one of them even accepts BitcoinCash for his business.
My story does not end here, and with every day there is a change with some great, some good and some not so good stories. Keep your eyes out for updates to my never ending and exciting Crypto life.
submitted by hifrom_laura to Bitcoincash [link] [comments]

BitMax.io(BTMX.io)News Digest 2019 09 23

Major Headlines
  1. Bitcoin falls as futures exchange makes its trading debut
  2. Weekends are for altcoins when it comes to crypto market gains
  3. Google’s quantum “breakthrough” won’t destroy Bitcoin. Not yet.
  4. CoinShares Enlists Customers to Lobby Against UK Ban of Crypto ETN
  5. Bakkt Is Finally Launching Its Bitcoin Futures Today. Here’s What to Expect
  6. Crypto Exchange Giant Binance to Launch US Trading Tuesday
  7. IBM Says It’s Ready to Work with Facebook on Blockchain
  8. PBoC Denies Claims It Will Launch Digital Currency in November
Takeaway
  1. Bitcoin falls as futures exchange makes its trading debut
(All citations are taken from Bloomberg)
· The price of Bitcoin slumped 2.4% to $9,892 as 38 of the futures contracts offered on the Intercontinental exchange inc.’s Bakkt platform had changed hands.
· ICE highlighted the plan in part as a way for merchants to adopt cryptocurrencies as a payment method.
· First hurdle is to get enough traders to use its Bitcoin features.
  1. Weekends are for altcoins when it comes to crypto market gains
(All citations are taken from Bloomberg)
· Ether has bested Bitcoin in terms of daily percentage gains and has outperformed the largest digital currency in eight of the last 12 weekends.
· XRP has also gained over the past month while Bitcoin drops 5%
· Partner of JST Capital says Altcoins will continue to catch up and come to fruition at some level where the value proposition is being recognized more broadly.
  1. Google’s quantum “breakthrough” won’t destroy Bitcoin. Not yet.
(All citations are taken from CNN)
· The promise of an emerging era of quantum computing seemingly became a reality as Google released a new scientific paper.
· Known as Shor’s algorithm, the calculation enables the extraction of the private key from any public key.
· Currently, cryptographically secured public keys are the only safeguard standing in the way between users’ fund and financial ruin.
  1. CoinShares Enlists Customers to Lobby Against UK Ban of Crypto ETN
(All citations are taken from coindesk)
· Investment platform CoinShares is urging its customers to lobby the UK’s Financial Conduct Authority (FCA) over impending crypto asset regulations.
· In a letter to investors sent today, CoinShares has asked its customers to write emails and text messages to the UK regulator in support of one of its premiere products, exchange-traded notes (ETNs), which would be banned under the proposed regulation for retail investors.
· Similar to a bond, ETNs provide investors with returns based on a market benchmark such as the S&P 500. CoinShares offers exchange-traded products for bitcoin, ethereum, litecoin, and XRP.
  1. Bakkt Is Finally Launching Its Bitcoin Futures Today. Here’s What to Expect
(All citations are taken from coindesk)
· Bakkt, the Intercontinental Exchange-backed bitcoin warehouse and futures contract facilitator is launching Monday, opening the door for institutional investors to take positions on the cryptocurrency in a federally regulated venue.
· Bakkt’s futures will be physically settled. And according to the daily contract’s specifications, the bitcoin will be delivered on the second business day after the contract’s date.
· While Bakkt is also offering a 30-day bitcoin futures contract, the one-day version will essentially allow institutions to buy or sell bitcoin in a way that’s more familiar to them than the helter-skelter world of crypto exchanges.
  1. Crypto Exchange Giant Binance to Launch US Trading Tuesday
(All citations are taken from coindesk)
· Binance.US, the American arm of cryptocurrency exchange giant Binance, has announced it will start trading fiat-crypto and crypto-crypto trading pairs on Tuesday.
· The trading platform will list seven cryptocurrencies immediately upon the launch, including bitcoin, Binance coin (BNB), ethereum, XRP, bitcoin cash, litecoin and Tether’s USDT.
· The move is part of a larger expansion by Binance, which launched a fiat-to-crypto exchange on the island of Jersey, a British self-governing dependency in January.
  1. IBM Says It’s Ready to Work with Facebook on Blockchain
(All citations are taken from coindesk)
· IBM is willing to team up with Facebook to develop blockchain technology, an IBM executive said, explaining that developing the blockchain ecosystem is “a team sport.”
· IBM has been focused on developing its patented Stellar blockchain to facilitate cross-border payments and launched the World Wire, an international payments system that uses Stellar.
· World Wire aims to skip banking intermediaries that add complexity and cost to the traditional international payments systems by replacing them with digital assets sent over a distributed network.
  1. PBoC Denies Claims It Will Launch Digital Currency in November
(All citations are taken from coindesk)
· China’s central bank has denied recent reports that it will launch its national digital currency in November.
· News reports had also suggested that major banks ICBC, the Bank of China and the Agricultural Bank of China, as well as Alibaba, Tencent and UnionPay, would act as outlets for the digital yuan.
· The digital currency is not planned to replace the yuan and would be used in the retail sector and for payments like cash, the PBoC added.
(The contents above are all cited from corresponding websites, and don’t represent the opinion of BitMax.io platform)
submitted by o2ziga to BitMax [link] [comments]

Are companies like Chainalysis good for crypto?

There was a post about Binance teaming up with Chainalysis where I commented my concerns but the post didn't get enough traction. So I want to share some concerns and instigate some discussion around the topic.

Who?

Chainalysis is a company that leases investigation software to companies and governments to track and identify the users of cryptocurrencies like Bitcoin.
I can understand the positives to something like this which may be useful for tracking criminals and ensuring compliance. However, where do we draw the line? For a lot of people this goes against the fundamental principles of cryptocurrency.
I'm not saying this company or their software shouldn't exist, but I don't think we should support them or anything like them unless their software was to be used for research purposes to improve the sector. The software or act itself isn't bad per se rather the intention and circumstances around them are perturbing.
I have grave concerns that powerful groups and individuals - whether government, law enforcement or corporations can contract companies like Chainalysis to punish individuals even for legal activities.

Close Connections

Not to mention a lot of these companies are interconnected and invested in each other, which isn't a negative itself - but may raise red flags.
E.g. Digital Currency Group is invested in Chainalysis, and also has financial positions in Blockstream, Bitpay, Bitso, Bitwala, Brave, Circle, Civic, Coinbase, CoinDesk, CoinJar, Decent, Kraken, Ledger, Luno, Parity, Purse, Ripio, Ripple, ShapeShift, ZCash etc.
Funders Club which invests in DCG, which invests in Chainalysis is also invested in Coinbase, Slack, Chainalysis, Gitlab, KickPay and dozens and dozens more.
Techstars is also partnered with Target, IBM, Amazon Alexa, Ford, Barclays, Bosch and many other big companies.
I know this is a relatively emerging space, and it's not uncommon for start-up accelerators, VC and Angel Funds, and Investment companies to be few in number and willing to shell out the big bucks. However I do hope the trend reverses while crypto furthers into mainstream view and is adopted more regularly which will pave the way for great competition for funding seed rounds or even more distributed crowd-funding outcomes.
In a world where everyone and everything is connected, surely this is not what we had in mind?

"“It was a bright day in April, and the clocks were striking thirteen.”"

Chainalysis has services for governments to "Leverage pattern recognition, machine learning and open source references to identify suspicious activity across billions of cryptocurrency transactions." and imagine if authoritarian governments use it to track legitimate uses. Or a country where crypto is illegal, the government can use Chainalysis (who could partner with exchanges) to track who is using it and punish them. I hope they don't work with governments like China, Iran, Egypt, Saudi Arabia, Pakistan, Syria, North Korea, Myanmar, Indonesia, Syria, Chad etc where either using Bitcoin is illegal or they're authoritarian, corrupt regimes. Most of the above aren't even sanctioned by OFAC.
Imagine the Chinese government using this on their citizens given their corruption, random kidnappings and threats. Even the former Chief of Interpol wasn't safe. Or the Egypt Government sentencing an activist for 2 years for merely publishing a critical post on social media. Or activists getting charged with "contact with foreign entities with the aim of undermining the country’s stability and social fabric” for campaigning in Saudi Arabia.

IRS - The New Spooks?

The IRS also has a contract with Chainalysis to identify users and link them to transactions.
Here's a letter from a Chainalysis Co-Founder sent to the IRS, saying they have information on 25% of all Bitcoin addresses, and that was in, or before August 2017.
Transactions in Bitcoin are made with pseudonyms, which need to be tied to real world identities in order to gain insights about the parties involved in a transaction and their purpose. Our tool has information on 25 per cent of all Bitcoin addresses, which account for approximately 50 per cent of all the Bitcoin activity. We additionally have over 4 million tags on Bitcoin addresses that we have scraped from web forums and leaked data sources including dark market forums and Mt Gox deposit and withdrawal information.
Source: Fortune
It's scary how they use the word "need" and how much info they have "tagged."
Here's a document showing the contract between Chainalysis and the IRS.
The contract began during November 2015, where the first invoice amounted to $13,188 for a 12 month license to use Chainalysis' Reactor Investigator software.
What do you think? Are my fears valid? Will this be used against us in the future?
submitted by PrinceKael to CryptoCurrency [link] [comments]

Subreddit Stats: CryptoCurrency top posts from 2017-12-30 to 2018-12-28 15:19 PDT

Period: 362.99 days
Submissions Comments
Total 999 261301
Rate (per day) 2.75 714.82
Unique Redditors 802 50220
Combined Score 2218137 2947862

Top Submitters' Top Submissions

  1. 67661 points, 12 submissions: DestroyerOfShitcoins
    1. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26500 points, 3087 comments)
    2. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17879 points, 1294 comments)
    3. Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming. (9278 points, 777 comments)
    4. So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2550 points, 875 comments)
    5. Not 2 days after the fall of BitConnect, and Trevon James is already promoting his next Ponzi scheme affiliate program in his latest video called Davor... the nerve of this guy! (2229 points, 416 comments)
    6. Cryptonick is selling a cryptocurrency course for $497, and yet he doesn't even know the difference between a public key and a private key... welcome to crypto folks! (1805 points, 239 comments)
    7. You guys have to stop expecting any of these business men of old to champion "decentralized" cryptocurrencies... it's just not going to happen. (1796 points, 453 comments)
    8. The bulls are back baby, and Ethereum is taking over the pairing business on exchanges... it's about time! (1649 points, 740 comments)
    9. Trevon James, legendary BitConnect scammer gets caught trying to cheat on Steemit, by up-voting shit on a fake account to make money... has this guy ever done anything honest in his entire life? (1371 points, 192 comments)
    10. CryptoNick's latest video "Like and Dislike" ratio means that his BitConnect scam has not gone unnoticed, and I'd like to thank all of you for helping us expose him for the scammer that he truly is... drops the mic. (940 points, 158 comments)
  2. 53866 points, 1 submission: jake15151
    1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. (53866 points, 2895 comments)
  3. 53525 points, 19 submissions: coinmoon_com
    1. Nasdaq is open to becoming cryptocurrency exchange, CEO says (17168 points, 844 comments)
    2. Facebook bans crypto advertising. Then says it’s working on its own crypto coin. Hypocrites! (6045 points, 343 comments)
    3. JUSTICE: Bitconnect Leader Arrested (4275 points, 321 comments)
    4. Apparently there is no SEC hearing on Ethereum today and it is all just orchestrated FUD. (2858 points, 440 comments)
    5. Nasdaq May Launch Bitcoin Trading in October 2018 (2650 points, 184 comments)
    6. UPbit audit confirms South Korea’s biggest Cryptocurrency Exchange was not at fault. It was all just FUD! (2322 points, 113 comments)
    7. LET THIS SINK IN: "Bitcoin has the potential to become the first worldwide currency and we're trying to make that happen" - NYSE Owner (2231 points, 597 comments)
    8. Coinbase Survey Shows 18% of all US Students Now Own Cryptocurrency (1790 points, 338 comments)
    9. Beyond Huge! With $10.7 trillion worth of assets under custody and administration, Northern Trust opens doors to Cryptocurrency hedge funds (1774 points, 145 comments)
    10. CNN Video: "People around the world are starting to trust Bitcoin more than the Central Banks". Damn Right! (1679 points, 456 comments)
  4. 43808 points, 4 submissions: A_Internet_Stranger
    1. +1(800)273-8255 - U.S. National Suicide Hotline (38893 points, 3161 comments)
    2. Binance to grant 70% reduction in fees until 2/24/18 (2240 points, 412 comments)
    3. Rai.Exchange/Nanex has finally launched (1892 points, 236 comments)
    4. Nano / XRB Creator Colin LeMahieu Interview (783 points, 81 comments)
  5. 32059 points, 7 submissions: arsonbunny
    1. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto (14594 points, 927 comments)
    2. Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term. (6080 points, 654 comments)
    3. This sub is a mess and needs to get out of the anger stage: How to move forward from the crash if you're a bagholder (3363 points, 404 comments)
    4. Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today (2701 points, 719 comments)
    5. How and why exchanges are manipulating the price in order to capitalize on the new market dynamics (2366 points, 512 comments)
    6. I built these 3 fundamental valuation models for Bitcoin in Excel. Details in the comment. (1517 points, 111 comments)
    7. Understanding Bitcoin Futures: How they work and why they are NOT going to crash the crypto market (1438 points, 123 comments)
  6. 20144 points, 1 submission: Suuperdad
    1. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20144 points, 1459 comments)
  7. 19959 points, 1 submission: Gabriel-Lewis
    1. Robinhood is launching a Crypto Trading app to compete with Coinbase (19959 points, 3960 comments)
  8. 19623 points, 1 submission: sash187
    1. Checkmate, Bill. (19623 points, 1108 comments)
  9. 18475 points, 1 submission: x2P
    1. Delta's app store description seems appropriate today. (18475 points, 321 comments)
  10. 18254 points, 9 submissions: lamb0x
    1. This is the SEC Commissioner who wants the ETF approved. She has only 1700 followers. Lets show her some love from the Crypto Community. (7312 points, 307 comments)
    2. Bitcoin Annual Transaction volume reaches $1.3 Trillion and surpasses PayPal (2018 points, 262 comments)
    3. WE HAVE SUFFERED A PRIVATE AFFAIR. Block producer paid $100k a day, but allows a double spend because "he had something else to do" (1922 points, 672 comments)
    4. Ethereum is the 5th fastest growing open source project in all of Github (1658 points, 183 comments)
    5. Vitalik laying more sick burns: "If I see indisputable evidence that CSW is Satoshi, it would change my opinion of Satoshi more than it would change my opinion of CSW." (1350 points, 271 comments)
    6. Hackers exploit EOS dApps to steal over $600K. EOS is burning, several dApps hacked recently 🔥🔥🔥 (1230 points, 450 comments)
    7. Just 10 address hold nearly 50% of EOS tokens. "Year long ICO was to distribute fairly" - debunked. (973 points, 260 comments)
    8. RIP EOS - John Oliver dissects this scam which has raised over 1.5 Bn USD already and is still raising funds in a "year long ICO".... (912 points, 474 comments)
    9. This guy has been predicting it right all this while, right upto the exact day! (879 points, 142 comments)

Top Commenters

  1. arsonbunny (16898 points, 134 comments)
  2. el-cuko (10955 points, 27 comments)
  3. dankmeter (6805 points, 26 comments)
  4. ph1sh55 (6226 points, 10 comments)
  5. BlakeRidley (6003 points, 11 comments)
  6. Raymikqwer (5316 points, 102 comments)
  7. hanzyfranzy (5284 points, 6 comments)
  8. DestroyerOfShitcoins (5236 points, 780 comments)
  9. Bungwads (5079 points, 1 comment)
  10. JohnDalysJohn (4764 points, 2 comments)

Top Submissions

  1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. by jake15151 (53866 points, 2895 comments)
  2. +1(800)273-8255 - U.S. National Suicide Hotline by A_Internet_Stranger (38893 points, 3161 comments)
  3. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26500 points, 3087 comments)
  4. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20144 points, 1459 comments)
  5. Robinhood is launching a Crypto Trading app to compete with Coinbase by Gabriel-Lewis (19959 points, 3960 comments)
  6. Checkmate, Bill. by sash187 (19623 points, 1108 comments)
  7. Delta's app store description seems appropriate today. by x2P (18475 points, 321 comments)
  8. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17879 points, 1294 comments)
  9. Nasdaq is open to becoming cryptocurrency exchange, CEO says by coinmoon_com (17168 points, 844 comments)
  10. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto by arsonbunny (14594 points, 927 comments)

Top Comments

  1. 10207 points: el-cuko's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  2. 6165 points: ph1sh55's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  3. 5795 points: BlakeRidley's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
  4. 5079 points: Bungwads's comment in Checkmate, Bill.
  5. 4781 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
  6. 4368 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
  7. 4287 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  8. 4034 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  9. 3700 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
  10. 3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Subreddit Stats: Cryptocurrency top posts from 2018-01-03 to 2019-01-02 14:46 PDT

Period: 364.28 days
Submissions Comments
Total 998 260939
Rate (per day) 2.74 712.43
Unique Redditors 801 50016
Combined Score 2194368 2923866

Top Submitters' Top Submissions

  1. 67673 points, 12 submissions: DestroyerOfShitcoins
    1. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26506 points, 3085 comments)
    2. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17883 points, 1292 comments)
    3. Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming. (9278 points, 777 comments)
    4. So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2548 points, 875 comments)
    5. Not 2 days after the fall of BitConnect, and Trevon James is already promoting his next Ponzi scheme affiliate program in his latest video called Davor... the nerve of this guy! (2231 points, 416 comments)
    6. Cryptonick is selling a cryptocurrency course for $497, and yet he doesn't even know the difference between a public key and a private key... welcome to crypto folks! (1805 points, 239 comments)
    7. You guys have to stop expecting any of these business men of old to champion "decentralized" cryptocurrencies... it's just not going to happen. (1799 points, 453 comments)
    8. The bulls are back baby, and Ethereum is taking over the pairing business on exchanges... it's about time! (1646 points, 740 comments)
    9. Trevon James, legendary BitConnect scammer gets caught trying to cheat on Steemit, by up-voting shit on a fake account to make money... has this guy ever done anything honest in his entire life? (1375 points, 192 comments)
    10. CryptoNick's latest video "Like and Dislike" ratio means that his BitConnect scam has not gone unnoticed, and I'd like to thank all of you for helping us expose him for the scammer that he truly is... drops the mic. (936 points, 158 comments)
  2. 53857 points, 1 submission: jake15151
    1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. (53857 points, 2895 comments)
  3. 53505 points, 19 submissions: coinmoon_com
    1. Nasdaq is open to becoming cryptocurrency exchange, CEO says (17168 points, 844 comments)
    2. Facebook bans crypto advertising. Then says it’s working on its own crypto coin. Hypocrites! (6037 points, 343 comments)
    3. JUSTICE: Bitconnect Leader Arrested (4276 points, 321 comments)
    4. Apparently there is no SEC hearing on Ethereum today and it is all just orchestrated FUD. (2859 points, 440 comments)
    5. Nasdaq May Launch Bitcoin Trading in October 2018 (2643 points, 184 comments)
    6. UPbit audit confirms South Korea’s biggest Cryptocurrency Exchange was not at fault. It was all just FUD! (2324 points, 113 comments)
    7. LET THIS SINK IN: "Bitcoin has the potential to become the first worldwide currency and we're trying to make that happen" - NYSE Owner (2229 points, 597 comments)
    8. Coinbase Survey Shows 18% of all US Students Now Own Cryptocurrency (1794 points, 338 comments)
    9. Beyond Huge! With $10.7 trillion worth of assets under custody and administration, Northern Trust opens doors to Cryptocurrency hedge funds (1769 points, 145 comments)
    10. CNN Video: "People around the world are starting to trust Bitcoin more than the Central Banks". Damn Right! (1678 points, 456 comments)
  4. 43789 points, 4 submissions: A_Internet_Stranger
    1. +1(800)273-8255 - U.S. National Suicide Hotline (38879 points, 3160 comments)
    2. Binance to grant 70% reduction in fees until 2/24/18 (2242 points, 412 comments)
    3. Rai.Exchange/Nanex has finally launched (1895 points, 236 comments)
    4. Nano / XRB Creator Colin LeMahieu Interview (773 points, 81 comments)
  5. 30534 points, 6 submissions: arsonbunny
    1. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto (14592 points, 927 comments)
    2. Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term. (6081 points, 654 comments)
    3. This sub is a mess and needs to get out of the anger stage: How to move forward from the crash if you're a bagholder (3356 points, 404 comments)
    4. Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today (2698 points, 719 comments)
    5. How and why exchanges are manipulating the price in order to capitalize on the new market dynamics (2366 points, 512 comments)
    6. Understanding Bitcoin Futures: How they work and why they are NOT going to crash the crypto market (1441 points, 123 comments)
  6. 20147 points, 1 submission: Suuperdad
    1. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20147 points, 1459 comments)
  7. 19964 points, 1 submission: Gabriel-Lewis
    1. Robinhood is launching a Crypto Trading app to compete with Coinbase (19964 points, 3960 comments)
  8. 19626 points, 1 submission: sash187
    1. Checkmate, Bill. (19626 points, 1108 comments)
  9. 18472 points, 1 submission: x2P
    1. Delta's app store description seems appropriate today. (18472 points, 321 comments)
  10. 18244 points, 9 submissions: lamb0x
    1. This is the SEC Commissioner who wants the ETF approved. She has only 1700 followers. Lets show her some love from the Crypto Community. (7311 points, 307 comments)
    2. Bitcoin Annual Transaction volume reaches $1.3 Trillion and surpasses PayPal (2017 points, 262 comments)
    3. WE HAVE SUFFERED A PRIVATE AFFAIR. Block producer paid $100k a day, but allows a double spend because "he had something else to do" (1926 points, 672 comments)
    4. Ethereum is the 5th fastest growing open source project in all of Github (1652 points, 183 comments)
    5. Vitalik laying more sick burns: "If I see indisputable evidence that CSW is Satoshi, it would change my opinion of Satoshi more than it would change my opinion of CSW." (1350 points, 270 comments)
    6. Hackers exploit EOS dApps to steal over $600K. EOS is burning, several dApps hacked recently 🔥🔥🔥 (1230 points, 450 comments)
    7. Just 10 address hold nearly 50% of EOS tokens. "Year long ICO was to distribute fairly" - debunked. (965 points, 260 comments)
    8. RIP EOS - John Oliver dissects this scam which has raised over 1.5 Bn USD already and is still raising funds in a "year long ICO".... (911 points, 473 comments)
    9. This guy has been predicting it right all this while, right upto the exact day! (882 points, 142 comments)

Top Commenters

  1. arsonbunny (15866 points, 128 comments)
  2. el-cuko (10968 points, 26 comments)
  3. dankmeter (6782 points, 24 comments)
  4. ph1sh55 (6233 points, 11 comments)
  5. BlakeRidley (6000 points, 11 comments)
  6. DestroyerOfShitcoins (5285 points, 800 comments)
  7. hanzyfranzy (5257 points, 4 comments)
  8. Bungwads (5079 points, 1 comment)
  9. JohnDalysJohn (4766 points, 2 comments)
  10. sakata_gintoki113 (4638 points, 92 comments)

Top Submissions

  1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. by jake15151 (53857 points, 2895 comments)
  2. +1(800)273-8255 - U.S. National Suicide Hotline by A_Internet_Stranger (38879 points, 3160 comments)
  3. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26506 points, 3085 comments)
  4. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20147 points, 1459 comments)
  5. Robinhood is launching a Crypto Trading app to compete with Coinbase by Gabriel-Lewis (19964 points, 3960 comments)
  6. Checkmate, Bill. by sash187 (19626 points, 1108 comments)
  7. Delta's app store description seems appropriate today. by x2P (18472 points, 321 comments)
  8. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17883 points, 1292 comments)
  9. Nasdaq is open to becoming cryptocurrency exchange, CEO says by coinmoon_com (17168 points, 844 comments)
  10. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto by arsonbunny (14592 points, 927 comments)

Top Comments

  1. 10218 points: el-cuko's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  2. 6165 points: ph1sh55's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  3. 5804 points: BlakeRidley's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
  4. 5079 points: Bungwads's comment in Checkmate, Bill.
  5. 4785 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
  6. 4364 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
  7. 4284 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  8. 4036 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  9. 3695 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
  10. 3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
Generated with BBoe's Subreddit Stats (Donate)
submitted by OsrsNeedsF2P to subreddit_stats [link] [comments]

My experiences as new investor are mirroring the overall market. Scrambling to Value as small and mid-caps continue to tumble.

Being new to this market feels like riding a roller coaster, which I'm sure is not news to anyone. But over the past few weeks I feel like I'm seeing some distinct trends in the markets that mirror my own experiences, and hopefully can give some insight to the future.
Like a lot of people, I only bought in recently, around the time BTC was leading the national news cycle. But due to the barriers to entry, there was a pronounced delay from when I made the decision to invest and when I could actually put any money in play. The most established Fiat-Crypto exchanges were experiencing 5-10 day delays for new accounts to get verified and funded.
So even though Millions upon Millions of new $ were being committed to Crypto in the last week of December, little of that was hitting the market until Jan 2nd-4th. And when it was, it was coming in through somewhat inexperienced traders like me, who were initially buying the big-cap newsworthy coins (BTC, ETH, XRP) because that's what they had heard about.
Within a few days, I began discovering more Crypto trading resources and exchanges, and information sources like CoinMarketCap and /CryptoCurrency. On Dec 26th, I didn't even know there were legitimate cryptocurrencies out there besides ETH, BTC, and ZEC, and by Jan 2nd I was trading RaiBlocks on BitGrail for fucks sake.
I also made some dumb moves, by chasing micro-priced coins. Everything was going up, and some of the $0.000x coins were popping for 5x, 10x. The strategy of spreading your portfolio in the 10-20 lowest coins on Binance/Kucoin and waiting for one of them to go 10x was a pretty solid move for a few days there. But as quickly as everything was turning to gold, it turned the corner and went to shit. And I'm not surprised at all because the people who had been holding those micro-coins knew they were worthless, so they dumped it before newbies like me knew what hit us.
Since it was the BTC surge, and the ensuing news cycle that built this run, now that those factors are reversed, it is naturally leading to a reversal of the trend. BTC goes from $20k to a new support level of $13k-$14k. A word search for "Bitcoin" on either CNN.com or BBC.co.uk no longer appears in any headlines. The fire underneath the market is gone. Unless those factors flip again, we are not going to see a swift recovery of the past week's losses, especially not for the small-cap and shillcoins that only benefited from the market surge, not their own fundamentals. I for one, am not on board with all those saying "buy back now, its not a correction, its a discount!" I see the Global Crypto Market Cap continuing to fall, maybe by another 10-20%, before stabilizing and staying flat until the next major shake-up.
But for me the silver lining is that there are now thousands (maybe millions) of new players on the field, like me. Many of us are younger, internet-savvy, and eager to learn and participate in the growing movement. Once this correction has run its course, I believe there will be much more established fundamentals emerging in the market. People will still pump and dump, like they have for generations with stocks, bonds, tulips, orange juice futures, etc. but currencies that have real-world uses and fundamentals will rise and fall in value predictably along with the market's interpretation of them, just like wall street does with publicly traded companies.
And just because the total market cap is contracting, does not mean all coins will be losers. I don't think there is very much fiat currency actually leaving the system, its just being panic-traded out of speculative coins back into more established currencies at more reasonable prices.
If people like me are the model for a new generation of Crypto-traders, then here is what I'm doing as a reaction to the crash.

1: Get out of any project that doesn't have a real-world use today, or a major development milestone within the next week or two. Get out of any "decentralized currency" coin besides the top 5.

2: Focus on a baseline established currency (BTC, ETH are easiest) and re-calibrate my thinking to maximize my BTC balance, instead of my USD balance. Not that BTC is the only reasonable currency of exchange, but until something changes, its still the safest and most stable.

3: Think global, and actively seek the latest and best information. Just because the US is cooling down doesn't mean China, Korea, Japan, India, Russia, Europe, Singapore, Vietnam may not be heating up. And know which coins get boosted by which news.

4: For Blockchain/Crypto projects, stay up to date on news and development. Try to get on their Slack, follow their Twitter, get on Telegram. And don't fall in love with them. If there is a competitor with a better product, better team, faster dev, or cheaper price, make the smart move.

5: There will be another run. It won't be as big, it may not last as long, and it may not happen for a while, but it will come. So be ready with some cash to throw around, a solid strategy to get in, and more importantly a plan to get back out on the other end.

submitted by EmmettLBrownPhD to CryptoCurrency [link] [comments]

Subreddit Stats: CryptoCurrency top posts from 2017-06-16 to 2018-09-22 16:34 PDT

Period: 463.18 days
Submissions Comments
Total 929 252235
Rate (per day) 2.01 543.91
Unique Redditors 757 51496
Combined Score 2317965 2956213

Top Submitters' Top Submissions

  1. 65976 points, 10 submissions: DestroyerOfShitcoins
    1. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26497 points, 3104 comments)
    2. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17878 points, 1299 comments)
    3. Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming. (9273 points, 783 comments)
    4. So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2545 points, 895 comments)
    5. Not 2 days after the fall of BitConnect, and Trevon James is already promoting his next Ponzi scheme affiliate program in his latest video called Davor... the nerve of this guy! (2227 points, 417 comments)
    6. Cryptonick is selling a cryptocurrency course for $497, and yet he doesn't even know the difference between a public key and a private key... welcome to crypto folks! (1800 points, 240 comments)
    7. You guys have to stop expecting any of these business men of old to champion "decentralized" cryptocurrencies... it's just not going to happen. (1795 points, 456 comments)
    8. The bulls are back baby, and Ethereum is taking over the pairing business on exchanges... it's about time! (1648 points, 748 comments)
    9. Trevon James, legendary BitConnect scammer gets caught trying to cheat on Steemit, by up-voting shit on a fake account to make money... has this guy ever done anything honest in his entire life? (1377 points, 192 comments)
    10. CryptoNick's latest video "Like and Dislike" ratio means that his BitConnect scam has not gone unnoticed, and I'd like to thank all of you for helping us expose him for the scammer that he truly is... drops the mic. (936 points, 159 comments)
  2. 53860 points, 1 submission: jake15151
    1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. (53860 points, 2964 comments)
  3. 52662 points, 18 submissions: coinmoon_com
    1. Nasdaq is open to becoming cryptocurrency exchange, CEO says (17166 points, 852 comments)
    2. Facebook bans crypto advertising. Then says it’s working on its own crypto coin. Hypocrites! (6032 points, 347 comments)
    3. JUSTICE: Bitconnect Leader Arrested (4271 points, 321 comments)
    4. Apparently there is no SEC hearing on Ethereum today and it is all just orchestrated FUD. (2867 points, 440 comments)
    5. Nasdaq May Launch Bitcoin Trading in October 2018 (2646 points, 184 comments)
    6. UPbit audit confirms South Korea’s biggest Cryptocurrency Exchange was not at fault. It was all just FUD! (2324 points, 114 comments)
    7. LET THIS SINK IN: "Bitcoin has the potential to become the first worldwide currency and we're trying to make that happen" - NYSE Owner (2225 points, 601 comments)
    8. Coinbase Survey Shows 18% of all US Students Now Own Cryptocurrency (1778 points, 343 comments)
    9. Beyond Huge! With $10.7 trillion worth of assets under custody and administration, Northern Trust opens doors to Cryptocurrency hedge funds (1774 points, 145 comments)
    10. CNN Video: "People around the world are starting to trust Bitcoin more than the Central Banks". Damn Right! (1667 points, 469 comments)
  4. 43142 points, 8 submissions: arsonbunny
    1. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto (14594 points, 938 comments)
    2. I've created an Excel Crypto Portfolio Tracker that draws live prices and coin data from CoinMarketCap.com. Here is how to create your own. (12289 points, 706 comments)
    3. Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term. (6076 points, 656 comments)
    4. Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today (2700 points, 724 comments)
    5. How and why exchanges are manipulating the price in order to capitalize on the new market dynamics (2362 points, 521 comments)
    6. Predictions for 2018 and lessons learned from trends in 2017 (2174 points, 568 comments)
    7. I built these 3 fundamental valuation models for Bitcoin in Excel. Details in the comment. (1511 points, 114 comments)
    8. Understanding Bitcoin Futures: How they work and why they are NOT going to crash the crypto market (1436 points, 123 comments)
  5. 43021 points, 3 submissions: A_Internet_Stranger
    1. +1(800)273-8255 - U.S. National Suicide Hotline (38886 points, 3173 comments)
    2. Binance to grant 70% reduction in fees until 2/24/18 (2242 points, 420 comments)
    3. Rai.Exchange/Nanex has finally launched (1893 points, 236 comments)
  6. 20144 points, 1 submission: Suuperdad
    1. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20144 points, 1465 comments)
  7. 19968 points, 1 submission: Gabriel-Lewis
    1. Robinhood is launching a Crypto Trading app to compete with Coinbase (19968 points, 3981 comments)
  8. 19622 points, 1 submission: sash187
    1. Checkmate, Bill. (19622 points, 1113 comments)
  9. 18480 points, 1 submission: x2P
    1. Delta's app store description seems appropriate today. (18480 points, 322 comments)
  10. 16891 points, 2 submissions: jpirog
    1. Can we all come together on this, lets make it known to Binance that we want all their withdrawal fees reduced. (12982 points, 829 comments)
    2. PART 2 - Can we all come together on this, lets make it known to Binance that we want all their withdrawal fees reduced. #BinanceFees It has begun! (3909 points, 414 comments)

Top Commenters

  1. arsonbunny (18160 points, 139 comments)
  2. el-cuko (10393 points, 22 comments)
  3. dankmeter (6754 points, 40 comments)
  4. ph1sh55 (6229 points, 10 comments)
  5. BlakeRidley (6001 points, 11 comments)
  6. Bungwads (5075 points, 1 comment)
  7. DestroyerOfShitcoins (5042 points, 670 comments)
  8. rockyrainy (4794 points, 171 comments)
  9. JohnDalysJohn (4766 points, 2 comments)
  10. ninemiletree (4764 points, 90 comments)

Top Submissions

  1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. by jake15151 (53860 points, 2964 comments)
  2. +1(800)273-8255 - U.S. National Suicide Hotline by A_Internet_Stranger (38886 points, 3173 comments)
  3. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26497 points, 3104 comments)
  4. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20144 points, 1465 comments)
  5. Robinhood is launching a Crypto Trading app to compete with Coinbase by Gabriel-Lewis (19968 points, 3981 comments)
  6. Checkmate, Bill. by sash187 (19622 points, 1113 comments)
  7. Delta's app store description seems appropriate today. by x2P (18480 points, 322 comments)
  8. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17878 points, 1299 comments)
  9. Nasdaq is open to becoming cryptocurrency exchange, CEO says by coinmoon_com (17166 points, 852 comments)
  10. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto by arsonbunny (14594 points, 938 comments)

Top Comments

  1. 10220 points: el-cuko's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  2. 6165 points: ph1sh55's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  3. 5798 points: BlakeRidley's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
  4. 5075 points: Bungwads's comment in Checkmate, Bill.
  5. 4368 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
  6. 4281 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  7. 4029 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  8. 3705 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
  9. 3627 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
  10. 3612 points: dankmeter's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
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Bitcoin Live - Fall from 7500 - Tom Crown

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