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[EU] [FIAT GATEWAY] Bitvavo.com is a new fiat ramp for NANO!
Hello dear NANO'ers, I come with great news. Bitvavo - a DUTCH exchange, secretly has fully implemented NANO on their exchange! This means you can buy AND sell NANO for Euros! Bitvavo is a DUTCH exchange, under Dutch/European law, having its HQ within the Netherlands. This is AMAZING. I made a post about Bitvavo adding nanos last year, back then you couldnt send/withdraw NANO (so it was fully artificial), but now its fully operational! Why is this a big deal? Its an European exchange, falling under European laws (Dutch to be precise). Since i live in the Netherlands, this to me is just amazing. The dutch are a meticulously kind of folk. Dutch laws are quite strong and complicated and regulations are strong here. To have a working fiat ramp exchange that hasnt been shutdown by authorities, means it has a certain degree of Trustworthiness (at least for me and Dutch laws, which are stricter then European laws mostly). Is it any good? Well, i first deposited euro's on the website (which you cant hold for longer then 5 days, since it isnt a bank and certain laws are preventing that), which went 'pretty' fast. I bought nano's with it (which was instant), and then i withdrew NANO's from it...which went through in SECONDS. Yes. Seconds. I put the order in, went to Binance to check things out and literally a few seconds later i heard the ping from CANOE. I couldnt believe it lol. I actually was in awe and suddenly became extremely enthusiastic, and immediately bought more lol. What about fees? They take maketrader fees of 0.25%. In my eyes, that isnt much. For withdrawal they also have fee, but its around 0.00025 nano if im right. Its crazy low. And crazy fast. Are there any negative parts? Well, its a dutch company but it isnt coinbase. If the whole world flocks towards it, i can see the website going down because the server can't hold that weight. This is theoretically, but those who experienced the 2017 run know that a lot of exchanges either went down (for a few hours/days) or stopped accepting new registrations because their servers couldnt handle it. I feel the same is with Bitvavo, its a small dutch exchange, not a big one. Other negative parts? I don't think they have much nano lol. After my first purchase i was SO impressed with the speed and low cost of it, i bought more. The second time i bought, i received a message that this was going to be processed manually. For the long run i cant see this being a problem, it just means they have to buy more NANO, which will only help NANO :) Now besides those, you do need to do a KYC, and i havent read in about any international KYC. The KYC is necessary for you to trade on the exchange. For me, i had to link my bank account to my account on Bitvavo (the same way you do it with Paypal). You can only send/receive money from/to your (linked) bank account to Bitvavo (if through IDEAL, not sure about SEPA etc). I find this acceptable to be honest for a EUROPEAN/trustworthy fiat gateway. Payment methods (including fees):
SEPA Overboeking (0%)
It has been a while since i sold crypto for Euro's on the site, but it worked pretty fast. The next day, the money was sitting in my bank account :) it wasnt much though (around 100 euros), but it passed the test for me back then. Unless we go in to a massive bullrun, i prob wont be selling my NANO for fiat anytime soon anyways. I am more searching for ways to pay internet services for NANO :) Hopefully one day we can pay for everyday things with NANO, like groceries or liqueur etc. Bitvavo has many many other coins too (besides btc,eth, xrp) like ADA, ICX, IOTA, Vechain, NEO etc. So if you want to trade your NANO with other crypto's, it is another way besides Binance (though i would still use binance for it). THis is a huge step. For very low cost, and extremely fast speed, we (Europeans in general) have an amazing gateway towards NANO. Together with Coingate integration of NANO, and NANO amazing ease of use - i cant see any other way besides NANO becoming a smashing succes. The only weird thing about this is Bitvavo own marketing. They did this all in silent, for reasons unknown to me since this is HUGE news for me (and a lot of Dutch/European citizens that have access to IDEAL). Now, i have to SHILL NANO a bit more here, because i am really getting hyped once again. I feel even more positive about NANO then back in dec 2017 to be honest. Remember guys, NANO is just at #48 in CMC. 48! While its utility is much better then 99% of ALL crypto! Infact, NANO is the ONLY usuable crypto RIGHT NOW besides maybe Eth for Dapps. Look at the marketcap of LTC, which in EVERY aspect is a worse coin then NANO. Then calculate how much a single NANO would be worth if it would have LTC marketcap... NANO has STILL SO MUCH to grow, its crazy. Its like getting Bitcoin back in 2011/2013. Pay for your products online FASTER and more reliable AND cheaper then Paypal (conversation rate), credit card (% rate per month/year) or bank. Since V18 has come out i have been EXTREMELY impressed by NANO. So much that i have doubled my (relatively small) stack and i have (once again) started to accumulate slowly. News like this (Bitvavo) just makes me more hyped for NANO. Together with a website where i can actually buy their services with NANO - and i am planning to use it more, i cant be more positive. NANO may have had a hard time in 2018 price wise, but DAMN the team has done an amazing job with its tech throughout the bear market. Mad props to you Colin AND your amazing team. Props to Coingate for having an amazing service too! Once NANO has been proven to scale to 1k+ (with 7K being a nicely goal) + an automatically representative node assignment through wallets (to make NANO more decentralized), i cant see nano NOT becoming a top 10 - or even a top 5 coin. As a payment coin, NANO truly knows no equal! EDIT: a MAJOR edit here, before you guys get TOO excited. PLEASE look in to the exchange pricing too! Bitvavo might be selling (or probably IS) NANO for a higher rate then for example Binance (this is apart from maketaker fee and withdrawal fee!). It isnt the same price as you pay on Binance, with the conversion rate. So for the same EUUSD, you will get less NANO compared to Binance (if you could pay directly for it). So keep that in mind, u/dotcoml said it actually was 2%. I personally didnt bother doing the math nor do i mind a 2% fee to exchange my fiat for NANO (it still is better then credit card, and for its speed/usability, i dont mind paying 2% more compared to FIAT either), but it still is 2%. Keep this in mind! EDIT2: other users are reporting Bitvavo actually having LOWER prices then Binance :) please check it out for yourself!
Yeah, it’s another one of “those”. But honestly, after being in the game for long enough, you end up developing an eye for the good coins. Not the “good” ones, the GOOD ones. Believe it or not, research and common sense is the name of the game!
A little bit more about me: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. As a person, I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. The more I researched, the more I learned, the more I became hungry for knowledge, and therefore the more i researched. From trading to cryptocurrency basics, their economics, their political implications, the technology revolution they represent, the human psychology aspect as well as emotional trading behaviours (FOMO, FODO, etc.), all of it!
I’ve purchased Ethereum at 150$ (when I first started in crypto). Then NEO back when it was still AntShares and trading under 3$. Gas (Antcoin back then) at 30c, OMG when it was sub-1$, and ETP at exactly a dollar (selling it later at 5$). This was all before I even knew how to do a basic margin trade & was still in the process of learning about crypto (and while tether still had a “reasonable” market cap! LOL)
My approach is pretty simple when it comes to crypto. I split coins into seven main categories:
-Store of Value (BTC) -Payment (DASH, BCH, LTC) -Pure Anonymity and/or Evil Stuff (XMR) -Platform/platform’ish (ETH, NEO, LISK, CARDANO, ETP, Iota, Factom and the likes) -Shitcoins (99% of ERC20 tokens) -Absolute Shitcoins (Boolberry, Embercoin et al.) -Fee Split / Dividend Coins
That last category is my favorite. While I do strongly believe in diversification (10% store of value, 10% payment, 5% anonymity, 25% platform in my case), I always have a “lean” towards coins that make business sense. Coins that derive their value directly from the amount of usage the platform gets (Factom, for example). Coins such as NEO, BNB, Kucoin, Coss, ICN, TenX and the likes, basically coins that either have a direct “dividend-paying” property (NEO generating gas, Kucoin/Coss awarding holders with a % of the exchange’s trading fees) or an indirect “dividend paying” property such as BNB, ICN, TenX using quarterly profits to buy back their own coins and burn them, thus raising the value of the rest of the coins in circulation over time.
Now let’s look at market caps of these direct and indirect “dividend” coins.
Neo: 2.3B TenX: 246M Binance: 200M Iconomi: 155M Kucoin: 44M (68M at ath, not too long ago) Coss: 5M
You see that odd one there with only 5M market cap? Yeah. That’s the great buy right now. That’s the x10, x20 or even x30 that most people haven’t realized yet. That’s also the “dividend coin” you can scoop a ton of while it’s on the cheap, and make massive recurring revenue from as the exchange solidifies and evolves.
What is COSS? COSS stands for Crypto One Stop Solution. They’re a Singapore based cryptocurrency exchange with an amazing team that’s currently expanding. They aim at becoming the “One Stop” solution for crypto, meaning A) an exchange, B) a payment gateway for merchants to accept crypto payments, and probably sometime in the future C) crypto debit/credit cards. They offer their own coin (COSS coin), and holders of this coin receive 50% of the trading fees generated by the exchange (more on this later).
Now, what a lot of people still don’t realize in crypto, you don’t invest in the bigger market cap coins expecting to make a killing (“the moonshot”). Sure, they’ll bring you nice long term growth as the whole market matures, and that’s where you want to diversify and solidify your portfolio, solid coins with a purpose. But what if you want more thrill? An actual opportunity to “moon”? You find a project that makes business sense, that has at least a working product, and a good team. Buying NEO at 2.5B market cap? You missed the boat, it was a dollar a few months ago and already went x60 (“mooned”), and now stabilized at roughly x38. OMG had it’s x10-15 already. BNB as well. Their market caps are big, and a lot of buying needs to happen to even double in price.
Antshares (NEO) back then was a steal at 1, 2 and 3$. It was a huge risk, with huge rewards. They didn’t even have a product other than their blockchain. No dApp running or even being built on it, no english resources to even figure out how to code on it and deploy a smart contract, no marketing, hell we didn’t even know if Da Hongfei was still alive. All it was is a Chinese based smart contract platform, with an innovative dBFT concensus algorithm. It was a 100M market cap coin that early adopters believed in, and essentially invested in when it was not much more than a website and a blockchain. Look where it’s at now, with more than a dozen dApps being built on it, a solid team of roughly 10 devs, with the NEO council also funding City of Zion (team of 20+ NEO devs). NEO has grown into an incredible community, and is now launching coding dApp contests left and right, with the latest one in partnership with Microsoft china & offering half a million dollar’s worth in prizes.
NEO holders get rewarded with GAS on a daily basis. When NEO gets further adoption, all fees such as registering an asset, deploying a contract, changing an asset, etc. will be redistributed to NEO holders as well on a pro rated basis. Only transaction fees are not, as those will go out to MasterNodes. If you got yourself a thousand NEO’s back when they were a dollar or two a piece, you’re now generating 7 gas per month. That’s roughly 161$ USD per month, on a recurring basis, at current gas prices, out of a 1000$ investment. That’s a whopping 16.1% PER MONTH on original investment, and not even counting the fact that you pretty much made 37000$ profit on the NEO’s themselves. Today? Well, you gotta dish out 38000$ to buy a thousand neos and make 161$ per month, basically bringing you 0.4% per month on original investment.
Same with bitcoin. Early adopters that got it at pennies. It just hit $10K USD a piece. For every 30 cent spent purchasing bitcoin in 2009, you’d have $10K USD in the bank account. Invested 3$? 100K. Invested 30$? 1M.
Ethereum? From a dollar to half a grand now.
Moral of the story? Early adoption pays off. History repeats itself, and it will continue to do so. Bitcoin was digital money for nerds, ethereum was a cool project that nobody really gave a crap about until they got EEA which showed credibility (early adopters of eth had a great vision, I’ll give them that!). Neo was chinese vaporware. What do they all have in common? Their.Early. Adopters. Made. A. Killing.
Look where they stand now. Look where a lot of coins stand now. Even a lot of ERC20 tokens that don’t even really have a reason to exist have market caps over 100M. And for what? They don’t reward you with anything other than price increasing because more people buy (greater fool theory)? They don’t reward you with dividends from the project/platform itself? Their value isn’t derived directly from the amount of usage it gets (a la Factom, PaulSnow you genius.)? They still don’t even have a minimum viable product to show? When you ask yourself why does it need a coin, and the answer is either “uhh…” or “oh it grants you voting rights” (that nobody gives a crap about, let’s be honest), you should reconsider your investment strategy. Cause I can tell you a lot of people don’t know what the hell they’re doing, and they’d be better off diversifying in the top 5 or 10 coins and holding than investing in the shitcoinfest that crypto has become.
And that’s why COSS is a pretty buy right now. You’re investing in a platform that’s already up and running, not a whitepaper or vaporware. Hell even Eth and Neo were riskier investments for early adopters. Let’s go over the cons first:
It’s ugly. The UI sucks. It doesn’t have API’s yet, meaning there’s no bots to create liquidity, and therefore low volume. It’s been fudded to death by KuCoin shills (and their referral links you’ve seen everywhere a month ago). Charts are horrible
That’s about it. Whenever you read up about coss, those are the cons you’ll find. But what about the pros? Well, all of this is in the process of being fixed, as we speak.
Singapore has lax laws about cryptocurrencies and issued a statement it does not feel the need to regulate them. It’s securing exclusive ICO’s already despite being a tiny exchange, and has mentioned being able to secure from 4 to 6 per month. The team listens to the community’s feedback and takes it seriously. This is Gold. One of the first things they were criticized about was trying to do too many things at once (an exchange, a payment gateway, a full one-stop solution for crypto, etc.) and they’ve taken the community’s advice and decided to focus solely on the exchange for now and build it properly, before branching out to the rest. “Better excel at one thing and build from there, than be mediocre at multiple things at once” Also following community feedback, they are implementing trading promotions “a la Binance”. Part of the total supply of COSS tokens will be donated to charities (the community votes to who they go). First of all, that’s just plain nice. Secondly, I find it pretty damn cool that we donate this for good causes, and they basically keep “generating” income from it. It’s basically like a “perpetual donation” on behalf of COSS and all of its users, and definitely will make a lot of people feel good about using the exchange. Thirdly, this pretty much guarantees millions of COSS tokens are going to be in perpetual “HODL” mode, essentially taking them off the market. They will be implementing a FIAT gateway sooner than later. We all know FIAT gateways are game changers. They are constantly hiring. The team growing is definitely a good sign. They are revamping the overall UI and charts, once again following the community’s advice, and the proposed new look is fantastic! Check it out here, as well as other great announcements: https://medium.com/@runeevensen/coss-io-7379b7628d93EDIT: It has been brought to my attention that there is a UI upgrade scheduled for tomorrow (Dec. 3rd), although it isn't clear if it's a minor one or the actual major overhaul, might wanna keep an eye out on that! They are upgrading the matching engine and releasing API’s soon to allow bots to create liquidity and significantly raise the trading volume. Unlike KuCoin, the revenue split (COSS token holders) will always receive 50% of the fees, whereas kucoin will start decreasing it in 4-6months and it will bottom out at 10-15% The revenue split from trading fees is controlled by a DAO, meaning the COSS team cannot arbitrarily decide to change it later down the line, unlike KuCoin where the control over the fee split is centralized and they decrease it as they please. The DAO model also avoids it being labeled a security. First of all, those aren’t really “dividends” as dividends would require them to calculate income minus expenses to determine profit, and then distribute this profit to shareholders, and obviously that’s a legal nightmare. With the DAO model, you don’t get a percentage of the “profits”, you get a revenue split from the exchange fees, and it’s done by clicking a “distribute” button which makes a call to the smart contract and distributes your coins. COSS itself is not giving you anything COSS is still in Beta. It has a tiny market cap. Now’s the time to pick it up, not when it’s out of beta and has become successful, or you’ll be in another Antshares/NEO situation. A ridiculously small move from 5M to 50M in Mcap and that’s x10, a move from 5M to 150M (still under binance levels) and that’s x30. In the long run, COSS aims to be more than just an exchange. Holders of the token, who currently get 50% of the exchange’s trading fees, will also get 50% of other fees charged from coss. This includes their eventual payment gateway. Merchants around the world wishing to accept crypto payments will be able to use COSS’s gateway and COSS will charge a 0.75% fee per transaction. We, as COSS holders, also get 50% of that. You believe crypto is the future and going mainstream? Well your COSS will entitle you to the revenue generated by tens of thousands, if not hundreds of thousands of businesses accepting crypto payments via COSS Point-Of-Sale. COSS also mentioned that all other COSS “fee generating” products to come will all be subject to the same DAO/50% split. Logically, If they have 1) The trading platform, and 2) the payment gateway, then the third step is solving the problem of spending the crypto in places that don’t accept direct crypto payment, AKA a crypto credit/debit card. Well, guess what? Users of such cards will be charged a small fee as well when their crypto is being converted to fiat in real time for payment at a gas station. We as COSS holders are, again, getting 50% of that fee. As you can see, this is a coin that makes business sense to invest in. Unless you really, reaaaaaally care about a coin being the “Future of decentralized prediction markets” or “the future of decentralized dating” or the “decentralized gambling coin” and whatnot. Smart money is smart. It's only a matter of time before savvy investors discover this coin.
ALTHOUGH, keep in mind, the calculations above take into consideration an average trading fee of 0.2% and while this fee is accurate right now, it will most likely average 0.1% once API’s are released and liquidity/market maker bots start operating on the platform. Also, the calculations above do NOT take into consideration that in 4 years from now, there will be 200M (hard cap) COSS tokens on the market. HOWEVER, these calculations also do not take into consideration that by then, COSS will have a fully up and running payment gateway, crypto credit cards, and other revenue-generating products such as a crowdfunding platform, smart contract deployment platform, etc. that are also generating revenue for COSS holders.
All in all, if all goes as planned, the payment gateway/cards/other products will negate the additional COSS tokens released in the market as well as the average trading fee of 0.1%, and therefore the numbers presented in the excel docs will remain sensibly the same. Also, if crypto really takes off in the mainstream, then the revenue split to coss holders from the payment gateway & credit card spending could very well double, triple or quadruple all the numbers you’re seeing in these excel sheets, and that’s on the low end. Remember, the exchange only charges 0.2% (0.1% average once we have bots) out of which we get half, but the payment gateway on the other hand charges a flat 0.75% (7.5x the what the exchange’s fee), out of which COSS holders get half. This could be a massive revenue driver, easily surpassing the exchange itself, and honestly if at that point in time this coin is NOT valued at 3B+ (I mean, even ethereum classic is over that right now..), then I’ll just give up on the whole notion of logical thinking.
Quick example, assuming in 4 years 50M in gateway processing daily (18B yearly), 0.375% of that would be 187.5K USD daily for COSS holders. With 200M Coss tokens total supply, if you hold 10K coss you’d generate 9.375$ per day (65$ per week, 282$/mo.), and that’s purely from the gateway (totally excluding the exchange revenue, crowdfunding revenue, credit card revenue, etc.).
If you have 100K coss you’d generate 93.7$/day, 650$/week, 2820$/mo, again purely from the gateway.
If you’d rather assume more conservative figures (let’s say 25M in daily gateway processing on COSS, all around the globe, or 9B yearly), then simply divide these figures by half. If you wanna go balls to the walls, double them (100M daily, 36B yearly). Play around, have fun with the numbers! To keep things in perspective, square has processed 50B’s worth of transactions in 2016. Therefore I believe using 9B, 18B and 36B for our calculations isn’t too far fetched, and actually pretty reasonable.
Anyway, to sum this up, no matter how you look at it, COSS is an extremely promising project with huge potential, and actually has working math (and a working beta!) behind it. It’s only a matter of a month or two before they’re out of their Beta, have upgrades to their UI and engine, and start really growing from there. The team listens to the community, which is super important, and they’re working on a multitude of revenue streams, out of which not only them, but all coss holders will benefit from, fifty fifty.
Their crowdfunding platform will be a competitor to indiegogo, gofundme, kickstarter, and they’ll have a small percentage fee (50% of which goes to COSS holders). The crypto Point-Of-Sale will be a competitor to Square and the likes (50% revenue to COSS holders). The crypto credit card (also 50% revenue to COSS holders). It is truely an admirable project. Shovel manufacturers made a killing during the gold rush, and COSS is positioning itself as the shovel manufacturer in the crypto adoption gold rush. This is a coin that makes sense to invest in, it is ultra tangible, and will give greater returns than any type of “decentralized [insert function here]” type coins.
On a personal note: Honestly, I believe this is the proper way to ICO, by NOT giving people worthless tokens that only go up in value due to speculation (looking at you, 99% of ERC20 tokens). Let investors guide you, let them reap 50% of the rewards as THEY are the ones funding you. This’ll keep the investors interested in the project, and every single one of them will have a direct incentive to vouch for your product. It’s only right for the investors to get rewarded with something tangible, I’d take that any day over a speculative shitcoin who’s only purpose was to put money in the project’s founders pockets
Quoted directly from said link:“For those that are most interested in discussions regarding the trading price of COSS. Please have in mind that when we entered our token sale, our clear sales message was a 3–5 year road-map, and not a 3–5 months pump and dump. We are a small team, doing our utmost to deliver and all we ask is for you to continue to give us feedback and also for you to give us some time to deliver. *That being said. We still aim to be out of BETA as soon as possible with a new engine for the exchange in Q1 2018. New UI should be in place well before that.** Once we feel we have this in place we will roll out massive marketing campaigns to attract users and increased volume. So although we have a 3–5 year road-map ahead, you should expect to see 2018 being “our year”. The 3–5 year plan is more on the complete roadmap when we proudly can call ourselves a one-stop solution. For now it is all about the exchange, and there we will see rapid changes over the coming weeks/months.”*
All in all, i’d like to thank the COSS team for actually caring about their investors, keeping them in the loop, listening to their feedback and giving them a unique and tangible opportunity. I’d also like to thank all the other COSS investors, who see a huge potential in this project and support the team, and lastly, all of you crypto-heads for reading through!
Happy hodling, and hopefully see you all at 500M+ market cap by late 2018 :)
-Some random guy on Reddit.
PS: Not investment advice. Always do your due diligence. Also, if you’d like, you can join the discussion at /cossIO
Friendly reminder: ETH is the quickest way to get your funds on the COSS exchange, and COSS/ETH pair has 4x the volume of the COSS/BTC pair.
December 25th CHRISTMAS (Presents from the King)! News on Christmas: MCO, PAY, WAVES, BAY…Tech This Week: BURST, ICX, XVG, STRAT, XEM, ARDR
December 25th CHRISTMAS (Presents from the King)! News on Christmas: MCO, PAY, WAVES, BAY…Tech This Week: BURST, ICX, XVG, STRAT, XEM, ARDR Ok yesterday with a market that basically tanked I managed to pick 5 of the only green coins out of literally 1200. MCO, PAY, BURST, ICX, and STRAT were all in the green. Picking winners when everything is green is one thing, but when the market is swimming in red and you have the 4 green, it’s a good day. I appreciate all my loyal followers! For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/MWBTWFV (join group to reach me directly and see posts early!) Remember in trading minutes matter, hours are eternities. Let's get to it, Merry Christmas All! News For Christmas: MCO has promised a Christmas bonus. Their twitter is swimming with hints about a KRISTMAS (spelled incorrectly? Bonus!). According to MCO, "We have something special planned for all of you for December 25th and we think you will love it." Their new cards are supposed to be released by January 1, maybe their debit cards (allowing you to exchange crypto for FIAT instantly) are ready?! Check them out online they look GORGEOUS. I have already placed orders for 3/5 of the available ones and I’m #40,000+ I expect MCO to start rolling these cards out, there is absurd demand for them. With surprise Christmas news tomorrow and a working product this month this coin should skyrocket. If you are interested in getting a card rf downloading the ap they are gorgeous: https://get.mona.co/ivwt/tc7kbhig6I PAY tweeted earlier today about shutting down their system for a short period while they prepared for the Christmas surprise. This confirms we will have Christmas news and from the tone of the tweet, positive news! What could it be?! With many projects and partnerships on the horizon I highly doubt they would release negative news on Christmas this is a must own for tomorrow to find out what news is released! WAVES’s founder has a livestream occurring on Christmas (not sure how he picked the day) at least everyone will be home to watch it? Either way their NG activation was successful, they have a live stream with the coin founder tomorrow, and a presentation at an enormous Miami Blockchain Convention in January. This is a buy and hold. Not to mention the Binance promotion which in essence is buy and hold WAVES (you lose points if you sell) is in effect for another 3 days and they are having an airdrop and the end of the month. Nothing but positive information here. If you need a Binance account to trade WAVES please use my referral link: https://www.binance.com/?ref=15316928 BAY has hinted at a Christmas surprise for some time now. The crypto coin market is gambling mixed with stock trading. My money is on BAY not disappointing and releasing news worthy of placing it in the 20%+ range with heavy volume. Now that the “NEWS” section is complete, which is all positive news for today! Let’s begin to discussion on technology. Nothing really creates 100% gains (or more) in the Crypto Markets like technological block chain advances. This is the week’s leaders for this category… BURST is one of the most unique altcoins on the scene. I wrote about them yesterday and they are here today because on the 27th we get Dymaxion. Do you investors/followers/crytophenes know what one of the biggest problem with mining is? Electricity consumption! BURST changes that by using 400x less electricity then BTC miners. They have their Dymaxion launch this week and their mining platform should revolutionize blockchain tech. BURST uses free memory space instead of CPU, GPU, and ASIC miners using literally less than 0.025% of the electricity when compared to BTC’s mining algorithm. BTC mining uses more electricity than many small nations and BURST will provide an ability to mine at a very low cost while still having a tradable coin on exchanges. Imagine being able to use the free memory on your computer, while you sleep to earn an income, the technology is crazy. I expect this week (their release is the 27th), particularly the next 72 hours to see the biggest BURST gains to date, while leading volume on Bittrex. NXT (will be in each post until the airdrop, and it went from $.7 when originally recommended to $1.80ish), with the future value of airdrop priced this should trend toward $2.00 or $2.50. As I’m writing this I see it’s spiked over $1.60. That is more then 100% gains in 72 hours, I’ve been screaming to buy NXT in all of my prior posts. Two days ago it popped. The whole market trended downward yesterday. However, NXT should continue to trend toward $2.00+. I just did the math on the IGNIS airdrop, the IGNIS has increased to $4.02 in value, meaning NXT should be worth a minimum of $2.00, a penny more for every penny NXT is worth following the airdrop, price point $2.00-$3.00 depending on if IGNIS continues to appreciate. More people will become interested in “free IGNIS” tokens in the coming days. NXT and the future value of IGNIS should continue to appreciate following Christmas leading up to the airdrop. ICX was one of the few winners yesterday! Their Mainnet goes live by the end of December which means any day now there will be that 100% pop everyone dreams of. Leading up to that we should receive the hype and anticipation boost on a daily basis. I expect ICX to rally 10% daily until the Mainnet announcement is made with a 100% gain the day of going live! Having a live Mainnet is essential for a viable crypto currency. Welcome to the big leagues ICX. XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 4 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). By the time you are reading this post it may unfortunately be too late . There is speculation Wraith may be released in the morning. XVG has promised WRAITH will be released by the end of this year, it should hit $.50-$1 range when it does, McAfee although I don’t agree w/him on much he says, states a $15 price target within 6 months of Wraith Protocol being released. I’m saying $1.00 it’s currently $.25 that’s a 400% upswing if I’m right, 4000% if McAfee is. Does it matter really who is correct at that point? Wraith allows the individual user to determine if they want their balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. Verge lets each user determine whether to be, public or private, this will revolutionize blockchian and altcoins. If you want to see the impressive link for the Wraith ad here it is: https://youtu.be/dMrk6rozbJg An article was written today by Bitcoinist highly favorable of Verge, Wraith will make the coin value explode: http://bitcoinist.com/verge-next-bitcoin/. XEM has been quiet but should NOT go unnoticed. Have you seen yesterday's chart? I suggest you glance at it. Literally no dips, 45degree angle upward. Leading to what.... Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Plus a 4 week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network. XEM will have a pop this week when Catapult goes live, followed by a 4 week awareness rally driven by a worldwide hackathon. STRAT, is going to have an amazing week. It was one of the only positive performers on a day the market looked like the movie Jaws. They promised that by January, "I can confirm they will be able to host ICO's on our blockchain agnostic platform this year." STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. Would anyone like to know the going rate of an ICO? 20-40BTC. Per ICO these small companies and their coin holders are making $250k-$600k at the depressed BTC prices. This is a very big business. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network in January. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT. ARDR’s platform launches Jan 1st. Ardor’s blockchain becomes fully operational Jan 1st., and the Genesis snapshot is announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. ARDR should continue to trend upward with NXT and IGNIS leading up to the airdrop. With a new platform and coins to be used on it this will be a positive week for ARDR with exceptionally high returns correlated with the new platform and IGNIS. I am including some CB predictions as they are a favorite DM topic I’ve received of late. CB Future Picks the same screenshot that showed BCC showed XRP and Monero. CB admits new coins will be added in the next few months. It was speculated in the online community that because CB released wallets for BCC, XRP, and Monero that those would be added next. CB adamantly denies that they planned to add BCC, XRP, and Monero. And then CB added BCC. I fully expect XRP and Monero to be added within 2 months, and that the original rumor they denied had some truth to it. XRP and Monero are buy and holds. Another favorite question is ICOs. ICOs are very difficult because 99% of them are garbage which is why I've only recommended 2, one of which just met it's hard cap for fund :/. The only one left I like is.. Crypterium- The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The ICO is also ending very soon! The bonus period ends in 2 days so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/?ref=4a5381543424516aa2b4e3a6 Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 3 address to help provide my girlfriend with presents so I can spend more time researching! What is 5% of the 200% I earned you this week? (NXT, Verge, MCO, PAY, EMC2, STRAT) ETH: Address: 0x955A1a68613C028Ea98b0b5dcC58901897EB90DB LTC Address: LSnEW1h1bZwFH67s9tXZVX2GCZHNmzFGVN BTC address: 1GKPSkohnt9pSgBnXRmn2SejQNPWD96qif Once again, no tips are mandatory but I spend 100’s of hours a week researching to make your investment and my small investment grow! Help spread the love this Holiday Season! THESE ARE SOLELY STRATEGIES I USE IN THE CRYPTOCURRENCY MARKETS BY NO MEANS AM I TRYING TO PROVIDE INVESTMENT ADVICE. I DO OWN SOME OF THE LISTED CURRENCIES FOR THE REASONS I’VE STATED.
Cryptocurrency as an Environmentally Friendly Alternative
First off, apologies if this is not the right place for this kind of post, but it is something I'm passionate about for a number of reasons and I hope people find it as interesting as I do. Bitcoin Many people have heard of Bitcoin's crazy energy consumption. Most blockchain crypto-currencies suffer from the same issue. Crypto-currency mining is a drain of energy and electricity. Bitcoin has solved one problem, only to cause another. Sure, Bitcoin's total energy consumption is less than the global banking sector but it's not an exact equivalence. Currently Bitcoin mining is using up the same amount of energy as a small country. This is neither practical nor sustainable. NANO However, there exists a crypto-currency called NANO that I'd like to bring attention to (without going into too much technical detail). NANO is infinitely scalable, it has no transaction fees, it has sub-1 second transaction times, and most importantly of all - it is not mined. To call anything "environmentally friendly" that requires more energy than it produces would be disingenuous but the differences are staggering. Per transaction it is estimated that Bitcoin uses 450-950 kWh of electricity. NANO uses a meer 0.112Wh. To put this into perspective, NANO uses between 0.000001% - 0.0000025% of the energy Bitcoin does per transaction (if I've done my math right), whilst also improving drastically on transaction speeds, fees and scalability. Compare this to the global banking sector and it is but the smallest of fractions in energy consumption. The entire global NANO network could be powered by a single wind turbine. There is even an initiative to plant trees to offset NANO's (already small) carbon footprint. The Technical Bits NANO has achieved its relative environmentally friendly status by the following:
The Block-Lattice. Where Bitcoin uses a single blockchain, with a single point of entry on the chain that miners compete for, every NANO account has its own blockchain. Each account's chain has send and receive records, meaning no competition, no mining, and no fees.
No Mining. All the NANO that will ever exist have been distributed by publicly available "faucets". There are still some of these, but the quantity received is small. NANO can still be bought on exchanges like Binance and used on cards like Wirex.
Conclusion Crypto-currencies are undeniable in their infancy, and with this comes volatility and speculation. But, just like the internet, the potential is there. The first websites were clunky, slow and poorly designed. Few people had the internet when it first became commercially available, and many skeptics thought that the .com boom was a bubble that would burst and fade into obscurity. I believe the same is happening with crypto-currency. However, I'm not posting this to shill crypto-currency. Use it or don't, it's up to you. But there is a real potential to help the environment by using crypto-currencies like NANO and I don't think this should go ignored. With most environmentally-destructive practices been performed in the name of money, I think it's important that we tackle this at the source. If we can use currency in a sustainable way, we can chip away at the ever-mounting bricks of energy-consuming markets. I'd be interested on hearing people's thoughts about any part of this post, and I'll happily answer any questions I can.
The UnTethering: What happened to Tether and Market today?
(1/2) This will be a two part post. First will explain the Current Situation of Tether and market while the Second one will explain the Downsides of Tether and its Future Impact on the Crypto Market. Impending Tether Collapse Rumors are not new if you have been in the crypto space for a while. But, today was a little different. The crypto market and Bitcoin investors went in for a shock today, as Tether, a self-proclaimed “stablecoin,” fell 6% below its U.S. Dollar (USD) peg touching its ATL at $0.86 while shooting its competitor coins above $1.10. A USD-peg stable-coin touching that mark was both funny and disturbing situation. These are the few things that escalated the situation further:
Bandwagon Effect - A Belief that everybody thought all USDT pairs are pumping because everyone wants to get out of USDT. Thus, I should also do the same.
FUD related to Bitfinex and Kucoin got cleared after Bitfinex released the statement that they will open the deposits in next 24HRS (http://twitter.com/bitfinex/status/1051750465782906880), or in case of Kucoin, already opened (https://news.kucoin.com/en/usdt-deposits-and-withdrawals-are-now-enabled-2/). That Binance delisting FUD was fake though. We even saw someone circulating fake Binance USDT delisting notice. And last but not the least the typical Bandwagon effect we can always see in trading markets. Thus, Against the background of Tether fall, BTC and ETH were growing. But there is a significant difference in the rates between USD and USDT. At one point, the price spread between the value of Ethereum on Bitfinex and Coinbase surpassed 10%, which is nearly unheard of in the nascent crypto market. While USDT is one of the most liquid crypto assets in this market, the order books of the BTC/USDT trading pair couldn’t handle this unprecedented liquidation, resulting in Bitcoin’s unrelenting move above $7,500 on Tether-enabled exchanges. However, it is unlikely that this irrational price action will be sustained for an extended period of time. All you need to do, is the math behind 'premium' value of USDT supporting exchanges, against ones with real US dollars. (2/2) The UnTethering: Tether and its Impact on Future Crypto Market Collapse. Now, even though we have cleared the FUD regarding Tether, we don't mean that Tether won't eventually collapse. There is a strong likelihood of that happening. You can count the situation today as a cautionary bell for future Tether implosions. We highly recommend you use other stablecoins as much as possible for stability requirements. The next scandal is brewing as we speak. The only thing we don't know is when. So, Better safe than sorry. Here is a simple explanation for the same. Note: The idea behind this post isn't to create FUD, but to create awareness among the masses. Q. If tether's value goes to zero, but I have alt coins on binance, how would I lose some of my alt coins?A - The idea is that on first sight Tether doesn't seem like a very big coin. Sure, it's top 8, but there are bigger coins on Binance. However with a lot of coins their market cap on paper is not their "real" market cap, it's not a real value invested in those coins, so a $1 billion market cap coin might only have a $5 million of value that was actually invested in it. So if somebody sold $5 million worth of that coin, it would basically drop to zero and have no market cap (some people would obviously buy it up at that point just due to the opportunity but that's a different thing). So you have hundreds of coins on Binance, which combined on paper have a market cap of hundreds of billions of dollars, but the real value in them is maybe 5% of that. But with Tether every 1 USDT is actually 1 real dollar of value invested (obviously this is debatable, but that's the premise of tether). So you have $2.4 BILLION of REAL value against maybe $10 billion of real value with other coins (if we exclude BTC). So if Tether collapses and goes to zero, Binance suddenly doesn't have the money that it "technically" owes its users, because Tether is never supposed to be under $1, it's not treated as a traditional coin where if it goes down it's your fault. Meaning, If tether is trading at 97.5, it means that people think there is a 2,5% chance they will not be able pay you the $1 when you ask. That’s the risk you take with your strategy. So, Binance will likely halt all trading and moving of tether, and that will create bunch other problems. There will be massive outrage and there will be thousands of lawsuits. Simply put Binance will suddenly find itself in a position where they owe people $10 billion dollars, but they only hold coins worth $8 billion dollars, so they might be forced (either willingly or by law) to pay up and bail out the tether holders. But that might be debatable based on whatever the courts would decide at that point. Not to mention Binance (and just about every exchange out there) uses Tether for trading with other exchanges, and that could create a range of other issues. Tether claims that every Tether they print is backed by real US Dollar, but although their website claims that they are subject to frequent professional audit, this has never happened. There has been one incomplete audit (and some conflict of interest) back in June. So basically nobody knows if Tether is backed or if they are printing it from thin air. Thus, If tether collapses the entire market will break for YEARS. It might even be worse than Mt. Gox. Not to mention basically every exchange out there uses Tether and many people that have funds on these exchanges may lose portions of their funds or even all of it, even if they never touched tether. Thus, We need better stable coins, we can't rely upon a really shady currency propping up the market. There's starting to come better alternatives like Gemini, DAI and Paxos but they don't have enough circulation or volume to cater the needs of the crypto market. So, we need to carefully revisit our strategy and deliberate what's good of us in a long run. Content by (@) whatsoncrypto (What's On Crypto) and Cointify
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