Crypto Shopping Cart – 11 August

 

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…

From https://www.coingecko.com/en/coins/kucoin-shares

 

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.

Conclusion

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” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Don’t miss this one!

 

Yesterday I bought myself (another) 75 KuCoin Shares (KCS).

Yes, I know that my previous post was all about the KuCoin Exchange (The Best Crypto Exchange just got Even Better! (Again)). I apologise for the lack of variety, but this is important and time is of the essence! Similarly, I can’t just write another “Shopping Cart” post and risk you missing this important buy!

I bought those 75 KuCoin Shares (trading STEEM and Ethereum for them) in order to be able to take part in the latest KuCoin programme. Of course they only released this information after my last post – Murphy’s Law at work once again!

So what is the latest KuCoin programme (as if they haven’t already launched enough new initiatives this month already!)?

This is it:

From https://www.kucoin.com/news/en-kucoin-will-launch-the-kcs-lockup-cash-back-program-and-burn-plan

 

 

Of course, if you follow me on Twitter, then you probably already know this:

From https://twitter.com/brain_bit

 

 

If you have a Twitter account and you don’t want to follow me… then, well, I guess I’m sorry – I don’t know how to cure “stupid”.

What is the KuCoin Lockup Plan?

The lockup plan is a three-month lockup of KuCoin Shares on the KuCoin exchange. In other words, it’s a staking contract. The more you stake, the more you can earn. Importantly, the sooner you stake, the more you can earn too. And that’s where it gets impressive:

Recently I staked my WAX coins on their new native (EOS-cloned) blockchain. Returns on that contract amount to 100% over a period of 3 years, which I think is very good! But the KuCoin figures are even better: returns are far higher, working out to a rate which equates to an estimated annual ROI of 50%. Over the three-month period of their staking contract, that works out to just over a 10% return. Not bad for three months, especially with no work involved! That is, quiet simply, the best staking contract I know of in crypto. By far. Yeah you could also get those sort of returns by running the right crypto masternode, but that would probably be considerably more risky – and possibly a lot more expensive.

To get into the KuCoin Staking contract you will need a minimum of 200 KCS. The news of this opportunity caused a price rise in KCS, the tokens have gone up from around $1.30 each to around $1.60. Thus (at time of writing) it will cost you a minimum of $320 to get into the programme – which isn’t cheap, but I consider it to be well worth it if you have the money available! There is a good chance that prices may drop after the staking contract closes, but I really don’t care: KCS is a long-term hold and will no doubt shoot up in price as the platform gets busier (As it has before – to an ATH of $20.17).

Set your alarms:

The lockup plan works as follows: it runs for the month of August, but those who lockup first stand to score the most. Estimated returns start at an annual rate of 50%, but then drop off by 0.5% every day thereafter, so you want to lockup on day one! The staking contract opens on 1 August (I assume directly after midnight) and the time zone used for that is UTC +8. In other words, the contract opens at 16:00 UTC on 31 July, at least I think it does.

For the whales out there, there is a maximum daily lockup amount of 10000 KCS. There is another limit that applies to everyone: a maximum of 500 000 KCS can be locked per day, so don’t wait too long! If you do miss day one or two, it isn’t the end of the world, 49% annual ROI on day three is still pretty darn fantastic! Even if you lockup on the final day of the month, the annual ROI rate will still be 35%, which still beats practically any other staking contract! The entire lockup programme will stop if and when 5 000 000 KCS is locked. This could happen in as little as 10 days, or it may not happen at all. Here is an added bonus: however much is locked up in the programme (in total), that same amount of KCS will be burnt in December 2019. KuCoin are burning KCS like wildfire at the moment (check my previous KuCoin post), a trend which seems to be continuing. This is great for KCS holders, especially when they are getting more KCS for free! If 5 000 000 KCS is burnt, that will mean that the total amount of KCS in existence drops by 2.8%! If you prefer to work with circulating amount (which I do not advise), then that percentage rises to 5.6%! Remember: you can always check out the latest information about KCS specifically at the KCS dashboard at  https://kcs.kucoin.com

You don’t have much to lose

For those who fear that KCS price will drop radically during the three-month staking period, take heart: you can cap your USD losses at 10%. This is because KuCoin have built a safety net into the system: they have a guaranteed service that works like this (in their own words):

After the KCS unlocks, KuCoin provides a service for repurchasing the user’s locked KCS at the price of 10% off the average KCS price (USDT price) on the day of the user’s lockup

What this allows you to do is to turn your recently unlocked KCS into USDT a price of 10% less than what it was worth during the lockup period. The programme is thus not only a good way to buildup your crypto holdings, but also a way to hedge against drops in the market! This offer expires 24 hours after unlocking and is only valid as long as you have not traded or moved your KCS.

On the downside, tokens locked into the new programme do not earn the usual daily staking rewards that KuCoin offers to KCS holders. However, those rewards are FAR less than what you stand to gain by participating.

Conclusion

I fully intend to lock up my KCS for this period, and I will do so as soon as I can. For those who don’t hold KCS, I think that the rise in the token price has been minimal and that it is still well worth your time to participate. I truly believe that KCS is an excellent token to hold and that it is greatly undervalued. I also firmly believe that KuCoin is a fantastic exchange. I’ve been using it for nearly two years now and I am 100% happy with it, in fact it often exceeds my expectations!

Following hot on the heels of “Soft Staking”, KuCoin is obviously focusing on staking lately and their offerings in this regard are extremely impressive. I hope they continue in this vein, if they do it should win them many new customers. I do not know what will happen after the three month lockup period ends, I know that your staked KCS will be returned to you, but I don’t know if another programme will follow thereafter, I hope it does! Perhaps it will become an annual event, who knows? At this stage information is still limited. Read the latest of KuCoin’s own articles about the the lockup here:  “KuCoin Will Launch The KCS Lockup & Cash Back Program and Burn Plan”

If you are not a KuCoin user yet, please consider clicking my “KuCoin” banner in my signature and signing up wit my referral link. I get tiny amounts of some of your transaction fees if you do, for which I would be most grateful. While you are at it… remember that Nash goes live next month!

From https://twitter.com/brain_bit

 

 

Nash and its NEX token should become big names in the world of crypto exchanges. After its launch, I see Nash being the best DEX by far, even better than Binance DEX. Initially trading pairs will be limited, but that will change with time. The highly advanced Nash platform and the myriad added features should make it extremely attractive to investors and crypto traders alike. I have built up a relatively big stack of NEX which I am hoarding jealously. I strongly recommend that you look into NEX if you have not already done so.

In the meantime, why not sign up so long? Once again, I have a referral link in my signature. You HAVE to use a referral link to sign up – there is no option to sign up without one. This is designed into the system to help spread the word. The referral link gives you entry into a competition: you can win BTC and NEX by signing up. The lucky draw is at the end of the year, and the more people you refer with your own code (that you will get after signing up), the more entries you get into the competition. I have never been this excited about the launch of an exchange before!

Yours in great crypto exchanges
Bit Brain

Attribution: Featured image from https://www.kucoin.com/news/en-kucoin-will-launch-the-kcs-lockup-cash-back-program-and-burn-plan

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” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Cryptocurrency Relative Strength Analysis Report For Week Starting 7/28/19

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.

Source Image

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.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

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.

Who is Justin Sun???

Justin Sun, is a tech entrepreneur, the founder of the cryptocurrency platform TRON and current CEO of BitTorrent. Justin is former chief representative of the Greater China area of Ripple and Jack Ma (founder of Alibaba) protégé  

Over the course of this week, a lot of news came out in regards to the CEO of TRON, Justin Sun after he cancelled the highly anticipated charity lunch between him and the American investor guru, Warren Buffett. Some of this news is still in rumour form so to speak but it has caused quite a stir amongst enthusiasts.

Earlier in the week, these rumours got so bad and inflated that the price of TRX was affected, and not in a good way.

Reports from Chinese media outlets suggested that Sun was charged by the nation’s authorities on internet safety for his supposed connection to money laundering, illegal fundraising, gambling and even spreading pornography.

And so with this, according to the Twitter user, cnLedger, Sun is banned from leaving the country.

Source

Justin has the brand name like Charlie Lee of Litecoin and the vision and the mouth of Elon Musk, meaning you have to take the good with the bad.

The price of Tron is at a major confluence line at $0.02.  Short term, price can go either way.  Long term, I like Tron. 

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.

Buy Some Real Estate With Ethereum

Fundament, a Berlin-based blockchain firm’s receipt of approval from BaFIN to issue blockchain-based bonds that are backed by real-estate. In an announcement on July 23, 2019, Fundament revealed that as a result of the regulator’s approval, it will be running a public offering valued at EUR 250 million ($280 million). 

As a result, crypto fanatics in certain regions who want to invest as little as 50 euros in Germany’s real estate at a variable interest rate can opt to pay with ethereum instead.

Furthermore, the token sale will begin on August 2019 where it will be launched on the Ethereum blockchain. The process will adopt the standard procedure that was notable among Initial Coin Offerings (ICOs) of 2017 and beyond. In addition, the tokenized bond can be withdrawn in the form of a foundation token to a wallet that is compatible with Ethereum’s blockchain.

Source

Ethereum was like the second coming of Bitcoin, where you could build Dapps on the blockchain, but the transactions weren’t fast (relative to the 3rd and 4th generation blockchains). However, Ethereum’s mission is to replace internet third parties that store data, track financial instruments via smart contracts and eliminate the server / cloud model.

Despite not making a lot of noise in recent months, Ethereum remains a top 5 blockchain, at least by market cap and will be one of the blockchains that will still be around in 10 yrs. However, in the short term, price is correcting to the support / resistance line at $160.

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.

Cryptocurrency Relative Strength Analysis Report For Week Starting 7/22/19

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.

Source Image

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.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

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:

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.

Be Careful If You Hold Monero On Exchanges

In May of this year, even the best and largest crypto exchange in the world, Binance.  Binance called the attack a “large-scale security breach,” in which hackers stole 7,000 bitcoin which was about $40 million.  Monero just made some headlines, warning owners who  hold Monero on exchanges.

Not one, not two but nine security flaws have been revealed to be on Monero from developers. One of these nine bugs could actually be exploited and used to steal XMR from cryptocurrency exchanges.
The developers have also found five DoS attack vectors and they labelled one of them as a critical issue.  Another security flaw was found in relation to the application layer used in the Monero ecosystem to increase the privacy of the transactions, CryptoNote. If hackers were able to exploit such a bug, they would be able to take Monero nodes down via a method that includes the malicious request of a big bulk amount of blockchain information from the cryptocurrency’s network.

Source

Note: An offline wallet, also known as cold storage, is probably the best way to secure your cryptos provides because one stores their cryptos in a digital wallet that is not connected to the network. When done properly, it can offer a very good protection against computer vulnerabilities.

I’m sure the developers of Monero will address these flaws.  Thus, the chart suggests, momentum is to the upside, so if price can pull back to the weekly demand at $67, look for a first target at $160.

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.

Ripple Trying To Make Money Moves

Ripple’s mission is to provide bank solutions allowing for faster payment settlement and lower foreign exchange fees.  So they created the digital currency / ledger XRP.

XRP has gotten a bad rap over the years by the hardcore crypto maniacs out there because they claim XRP isn’t decentralized because of the Big Banks’ compliance requirements and members on their board who once held government position.  Who cares whether they are decentralized or centralized, it’s about are they adding value to the Crypto space and recently, they are making money moves.

For instance, Xpring, the Ripple incubator, and investment arm revealed in a blog post on July 2, 2019, that it had invested $500 million in over 20 startups that are using the XRP protocol to grow the Ripple community.

In the same vein, Ripple on June 17, 2019, announced it has entered a strategic partnership with MoneyGram, one of the largest money transfer companies in the world.

It’s also worthy to note that the Federal Bank of India revealed in March 2019 that it has collaborated with Ripple in a bid to enable financial institutions to send cross border payments more securely.

The cryptocurrency community, on the other hand, are banking on developments of this nature to push the price of XRP above its all-time high of $3.15.

Many crypto analysts have predicted that the virtual asset may take charge and trade as high as $7 in the coming months.

Source

If investments into worthwhile projects within the XRP ecosystem continue, investors in XRP/Ripple will be handsomely rewarded in the long term.  The chart suggests the next levels to monitor are the daily demand zones near $0.25 and the daily supply at $82.

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.

Dogecoin…Now Listed On Binance

Dogecoin is a cryptocurrency which got its from the “Doge” Internet meme that features Shiba Inu dog as its logo. What started out a joke, it now has it’s own online community and is ranked the top 30 coins according to CoinMarketCap.

Jackson Palmer is an Australian entrepreneur created Dogecoin as a joke.  However, what started out as a joke, grew through social media, has an active community and has now been listed on Binance.

After years of waiting, Dogecoin (DOGE), the popular meme-based cryptocurrency, has finally been added to the world’s largest crypto exchange, Binance.

The reasoning behind the sudden listing of one of the oldest cryptocurrencies is seemingly fairly straightforward: people simply love Dogecoin.

“This one is an exception [to Binance’s strict listing policies], as there isn’t much new tech development (I guess it was never about the tech for this one),” explained Binance CEO Changpeng Zhao. “The users/community is large, and a famous ‘ex-CEO’ (cough  Elon Musk) helps!”

Source

So where is the price of Dogecoin headed next, after the major weekly resistance/support line at $0.002 has held earlier this year and with price respecting the weekly up trendline, the chart suggest price is headed to the a short term target at $0.007.

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.

Cryptocurrency Relative Strength Analysis Report For Week Starting 7/7/19

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.

Source Image

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.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

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.