In this episode our guest Joby Weeks, Global Ambassador of Liberland, discusses:
1) The recent birth of his daughter, Liberty: bit.tube/play… 2) How his interest in Liberland began after becoming Prime Minister of a small nation off the coast of Portugal 3) Two world-changing projects he is working on
The Commitments of Traders (COT) is a weekly market report issued by the Commodity Futures Trading Commission (CFTC) listing the positions held by commercial traders and the “Smart Money”, the hedge funds and bank institutions in various futures markets in the United States. Since the COT measures the net long and short positions held by speculative traders and commercial traders, it is a great resource to gauge sentiment in the Markets.
In recent weeks gold has hit a six year high and is on the verge of closing above a key psychological level at $1500. Since December, gold is up 15%. Because of the ongoing trade war between the US and China and now a pending currency war between US and China, Goldman Sachs said last week the risk of a recession is rising. And what is the Smart Money doing, they are rushing into safe havens.
The Smart Money is buying Gold as evidence of open interests increasing, along with the price of gold.
Which has translated into Gold long positions rising for the 9th time in the past 10 weeks.
We haven’t seen this much bullishness in Gold by the Smart Money since 2016.
But this is the chart that does it for me, as it indicates the Smart Money really became bullish on Gold at the beginning of June.
Thus, the chart suggest to go long on Gold during pull backs.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
I haven’t traded much in the last month or two. With the altcoin market still dead, one has to move very cautiously: being careful not to sell low and being equally careful not to buy rubbish.
Here’s what I’ve been selling and buying over the last three weeks or so:
Shopping trip 1:
The second part of my OByte airdrop came through about a month ago. Byteball (as it was then known) was airdropped to STEEM holders a little over a year ago, and I’ve been holding onto mine ever since, waiting for the second part of the airdrop to unlock. Obviously this was not a large amount (I didn’t have much STEEM a year ago), but every little bit counts, especially in an altcoin market as undervalued as this one is.
I’ve been watching OByte for as long as I have been holding it, and so far I have just failed to see a good use case for it. It doesn’t have the market penetration of similar coins, and it lacks the product differentiation required to give it unique desirability. I’m using the altcoin winter to weed out my weaker projects, and OByte is one of those which I decided to dump.
I headed over to Bittrex to sell it. Sadly I must say that Bittrex really doesn’t seem to be keeping up with the newer exchanges, it’s still a bit of a pain to use. Because my OByte was not worth much, and I didn’t feel like withdrawing BTC that would have cost me half it’s value in transaction fees, I decided to buy the one coin which I still leave on Bittrex: I bought Blocknet
Blocknet is not a name you hear every day. It’s basically a multi-chain, second-layer, blockchain interoperability system. It’s not a sure thing, but I have high hopes for it and see no reason why it should not succeed. To put it another way: I give it far greater odds of success than Cardano! Take a look at BLOCK if you are unfamiliar with it, they have some interesting things going on, including their own DEX (called “Block DX”). https://blocknet.co
Having nothing more to do on Bittrex, I headed over to KuCoin and sold off some of my TenX (PAY). While I still believe in TenX, I have not been happy with all of their recent decisions. A decision with regard to the distribution of tokens was badly received by the community, and indicative of poor management. That kind of thing sets off warning bells, the last thing I want is to sit on another Electroneum-like management disaster. So I dumped about 40% of my TenX and bought KuCoin Shares (KCS) with it. KuCoin shares are always a good investment – at least they have been for the last two years that they have existed.
Shopping trip 2:
Just before the month drew to a close, KuCoin dropped another surprise on us: the KuCoin Shares Lockup program. Staking rewards offered by this three month staking opportunity were ridiculously good, and I decided to participate. KuCoin Shares are not particularly cheap, but they are cheap for what they are. In an attempt to maximise returns on this opportunity, I traded my small emergency Ethereum fund (stored on KuCoin for just such cases) and bought KCS with it. In addition to that, I also sold off a substantial amount of my STEEM that has been powering down for the last few weeks – unfortunately at a very bad price. With altcoins universally low, it’s become a case of “which coins have the best potential for recovery?” I generally hedge my bets, but a STEEM to KCS swap was a no-brainer in this case.
I was fortunate enough to stake my KCS on Day 1 of the lockup at the maximum ROI percentage – I calculate that I should make a profit of over 10% (in KCS) in three months, which is fantastic! The KCS price climbed during the Lockup program, and for the most part it’s held onto its gains – hardly surprising when KuCoin continues to innovate and offer excellent service. See if you can spot the 24 hours before the staking contract first opened on the chart below…
Shopping trip 3:
My most recent shopping trip took place this weekend. ZCash (ZEC) has been under my watchful eye for the last few weeks. I have been growing increasingly uneasy towards it and last week I finally reached the end of my tether and decided to dump it. It’s a risky move: ZEC is far from bad, but I am unhappy with the direction that the management team has moved in. My decision was to get out before the coin suddenly loses most of its supporters – something which I consider to be a very real possibility. I don’t like the funding issues that ZCash is having – that’s bad financial planning. I don’t like the founder rewards disagreements – those are not in the best interests of the community, and have already caused the YCash fork to take place. The final straw for me was hearing that they wanted to basically rewrite the code for ZCash – which would open it up to a whole new set of bugs (remember: this is a privacy coin we’re talking about). Reading the latest posts by the ZCash Foundation and Electric Coin Company (the company which is confusingly ZCash – yet also isn’t – much like the Ripple/XRP obfuscation) did nothing to allay my fears, in fact it made them worse.
I held ZCash for a long time, so this was not a decision taken lightly (especially considering how much the price has dropped since I got it!). I wanted to put the newly freed up ZCash funds into the best possible coins. I sold my ZEC on Binance, so to keep things simple, I decided that I would only buy cryptos from Binance with those funds. I did entertain the possibility of leaving it in BTC, but because BTC dominance is so high right now, I consider any attempt to sell altcoins into BTC as a bad trade and a case of FUD selling. I opted to buy three altcoins instead.
It should be mentioned that I came very close to buying Holo (HOT) again. The only reason I didn’t buy it is that I have a fairly large amount of Holo already when compared to my other alts (not that any of my altcoin holdings can really be called “large” these days!). Civic (CVC) has been on my “want” list for several months now. With Civic at ATL prices, both in BTC and USD, it looks like an excellent buy opportunity. Combined with the fact that it still looks like a seriously good project and that it’s slowly getting some attention, I more than doubled my Civic stack for only a few dollars. I know that someday I will look back on these purchases and laugh. What remains to be seen is if the laughter will be at the massive profits I have made from them, or from the sheer foolishness of buying altcoins in a market that looks so disinterested in them!
Next on the list was Ontology (ONT). I’m still kicking myself for selling the first ONT that was airdropped to me for holding NEO. I often see ONT as a backup to NEO: should NEO for some inane reason fail to takeoff, then surely ONT will. For now my money is still on NEO (literally), but I think that ONT (which is basically just NEO dressed up in a suit and tie) is a very valuable addition to any crypto portfolio.
The last coin in my shopping cart is Waltonchain (WTC). I’m a VeChain supporter at heart, but Walton has always been worthy competition for them, and honestly there’s not much difference between the two. Lately it seems as if my #2 horse in the race has been outperforming my #1. Keeping my ear to the ground, it sounds as if Walton has been making the good deals lately – deals which should increase its adoption. “Adoption” is the name of the game in the altcoin world. With that in mind, I put the last of my old ZEC funds into WTC.
That’s the end of another month of shopping. While the markets may seem dead, I think this is a great time to accumulate all the good altcoins which are being overlooked by the “new money’ in crypto. The more fickle “old money” has turned BTC maximalist for now, but will surely swing the other way again once the altcoin money starts to flow. FOMO will pull them back over to the alts – where some of us have been waiting all along…
These are not the usual coins that I buy – with the obvious exception of KuCoin Shares. I’m taking this opportunity to increase my stake in some coins I don’t hold enough of, and also taking this opportunity to get rid of my non-performers. I’m also seriously considering putting more fiat in – even though I have none to spare – for reasons which I may elaborate on in my next post.
Opportunities surround us in crypto right now, fantastic opportunities. The trick is to tell the good from the bad. Remember that risk mitigation lies in diversification. Good luck out there.
Yours in crypto Bit Brain
“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin. Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin.
When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.
Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.
Based on the moving averages and the last daily closing price, relative to the moving averages,
the altcoins relative strength, relative to Bitcoin are the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
Rocket League, a highly successful live-service video game (PC/console) debuted in 2015 is still very popular, ranking in the top 10 most played games on gaming distribution platform Steam.
Its developer, Psyonix, was recently acquired by Epic Gamesand is now dropping the lootbox-style crate system it used to generate revenues from its player base.
Psyonix has already shifted the main focus of its monetisation strategy over to premium progression passes (so-called Battle Passes), which have been very lucrative for Epic Games.
Analysis and Comments
Lootboxes and micro transactions have long been popular monetisation techniques in mobile games, but it is only more recently that the big-budget games from AAA studios have been introducing them as well.
The main reason we are highlighting this story is because it showcases the subsequent shift away from monetisation techniques based on randomized item rewards (in premium games), as they have received a lot of attention and criticism in the near past – and come with a looming regularity overhang.
Battle Passes, on the other hand, are a tried and proven method to generate revenue from a game’s player base (and importantly not hated by gamers, unlike the “surprise mechanics” of lootboxes).
There are many successful examples of companies using this technique (including Epic Games & Riot), with perhaps one of the best ones being Valve’s annual Battle Pass sale for the esports World Championship of its game Dota 2: the game’s prize pool is almost entirely crowdfunded via the Battle Passes, and while only 25% of the in-game sales actually go towards the prize pool, the total prize pool currently amounts to more than US$32m, with 18 days left until the crowdfunding ends.
Notably, the Battle Pass-funded prize pool has consistently broken its own recordevery year, with this year’sofficially being the largest single-event prize pool in esports history.
Tencent’s Share price (majority shareholder of EPIC Games)
The global economy faces its biggest crisis in 11 years.
In theory, this should be bitcoin’s moment to shine, a chance to prove itself as an uncorrelated asset immune from political risks. Eventually, that result may bear out. But a rocky road lies ahead – for bitcoiners and nocoiners alike.
Before we do the bitcoin up or down game, let’s dive into why the current situation in global finance is so disturbing.
It all begun last Monday, when Beijing let the renminbi fall below RMB7.0 to the dollar. Almost immediately, the U.S. Treasury Department said it would take the rare step of labeling China a “currency manipulator,” a move that, in theory, would give the Trump Administration legal cover to impose punitive sanctions against Chinese. Markets freaked out at the specter of a currency war, a tit-for-tat feedback loop of exchange rate depreciations fueling a destructive downward spiral in trade and growth.
Thanks to ALL of you, Steemmonsters (aka Splinterlands) is growing, it does not care about bear/bull markets and is ready for the next Bull Run !
SteemMonsters reached 247k visits in July 2019!
There is an important difference between total visitors to a site and unique ones. In this case the 247k include the multiple times a person visited the website.
Therefore, as a good Steemian you probably connect everyday which will make you count for a total of 30 visits.
Therefore, how many “unique users” does SteemMonsters has?
This is a very important question that I will try to answer later on. According to the Beta Analysis from the website I use to compile these datas, it is c.30,6k in July (compared to an average of c.20k over the past 18 months) !
Daily SteemMonsters Traffic
SteemMonsters Daily Traffic kept on improving since the launch to reach close to 10k daily visits in July 2019.
A new patent application from IBM describes a blockchain-based web browser.
Filed on August 6 by the United States Patent and Trademark Office, IBM’s patent is for a web browser backed by a peer-to-peer network.
The browser collects pre-specified information from web browsing sessions, according to the patent. The information is then transferred to a network of peer-to-peer nodes for collection and storage. Information collection depends on the type of browsing experience chosen. Browsing on a work computer versus a personal browser would demand different settings, for example.
Types of potentially storable session information include what websites one visits, bookmarks, task performance, geolocation, plugin installation, and security patches. As the company states, a blockchain-based browser “affords a system for storing browsing information such that privacy is preserved and places privacy in the ‘hands of a user’ rather than a third party.”
“We will perform XWallet system upgrade from 10:30 to 14:30 GMT+8 on Aug 12, 2019. This upgrade will take approximately 4 hours.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
So the Bounce is still in progress on STEEM like on most of the altcoin. Let’ see if we will be able to go test the resistance line at 0.21$ or if the Drop will come back before that touch. Be very carefull if we touch that resistance line but we don’t break it. It could be a pull back before the resume of the drop.
In 2005, Box was founded
and ten short years later, the company went public and now serves 70% of the
Fortune 500 companies. Box began as an enterprise-focused cloud
storage company, but it’s been increasingly building out a platform on top of
its cloud-storage product. I was never
high on the company because one of their biggest competitors is Microsoft
Corp’s OneDrive and SharePoint, who based on their size, sold the same
commodity type storage for cheaper.
Needless to say, earlier this year when they announced fourth quarter earnings, the results were below expectation.
I personally saw further declines and the chart suggested price would head down to the monthly demand at $14.
Box announced their first quarter earnings report. Box’s revenue in the quarter increased 16% from a year earlier, but the lowered their forecast for the rest of the year leading to a sell off in the stock. Needless to say price hit and bounced off the the monthly demand zone at $14. As the zone indicated, there were unfilled buy orders which cause the bounce in price.
So the question at the time became there more unfilled orders at the demand zone or did they get all used up after the bounce in price?
Box isn’t scheduled to announce earnings until late Aug, but their direct competitor Dropbox Inc announce their second quarter earnings this past Thursday. Dropbox reported a slight increase in the number of users who are paying for its file sharing services but they also reported a wider second-quarter net loss. Again, since Box is in the same line of business as Dropbox, Box sold off as well.
So now we can answer the question of were there more unfilled buy orders at the demand zone or did they get all used up after the bounce in price in June? I’m sure there were more unfilled buy orders below the pivot highlight by the purple circle, but the sellers absorbed them all and pushed prices higher.
I expect price to bounce from current levels, but then head lower, eventually to the weekly demand at $10.50.
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.