Log in

Tag: steempress

The Sunday Crypto Recap – Down the Rabbit Hole 51

October 19, 2019 Published by

Price action remained bearish though some high-profile Alts showed signs of life. BTC metrics (aside from short-term price) remained bullish. Binance continued to provide a model of revenue earning by providing wanted services. EOS saw the publishing of a number of meaningful governance proposals amongst other developments. Craig Wright and Tone Vays conducted another round of name-calling and circus clown performances – another week in crypto. Don’t be fooled by bearish sentiment – lots going on, progress throughout the ecosystem – patience and solid investment decisions will, in time, be rewarded.

Picks of the Week

This rebuttal of Ripple’s ‘distance’ from XRP. Colin’s deep dive into recent EOS governance proposals is also very informative.

Twitter

Despite recent bearish price action has this been an accelerated run-up for BTC?:
https://twitter.com/PrestonPysh/status/1183041162518683649

BTC defined:
https://twitter.com/francispouliot_/status/1184627170234294272

Employment numbers for the larger crypto companies:
https://twitter.com/lawmaster/status/1182957621952663554

Libra sheds more members…scan down to Nick Sabo comments…:
https://twitter.com/davidmarcus/status/1182775728431087623

A brief analysis of IEO performance:
https://twitter.com/lawmaster/status/1184454371305775104

Addressing exchange EOS voting:
https://twitter.com/GenerEOSAus/status/1183949268903612416

The crypto circus:
https://twitter.com/voice0fcrypto/status/1184532883576410123

EOS 1.8 update – lots of potential going forward:
https://twitter.com/Jesta187/status/1184687423487270913

Binance continues to iterate and develop at breakneck speed:
https://twitter.com/binance/status/1184671792780066818

Articles

Libra…cough…buy Bitcoin:
https://www.theblockcrypto.com/post/42979/ebay-and-stripe-drop-out-of-facebooks-libra

Telegram…cough…buy Bitcoin:
https://btcmanager.com/sec-telegram-gram-cryptocurrency/?q=/sec-telegram-gram-cryptocurrency/&q=/sec-telegram-gram-cryptocurrency/

Big BTC projects continue to attract investment:
https://fortune.com/2019/10/15/what-is-bitcoin-mining-layer1-peter-thiel-crypto-investment/

The humble Satoshi explained (recommended):
https://thenextweb.com/hardforkbasics/2019/10/16/understanding-bitcoins-smallest-unit-the-satoshi/

EOS governance proposal by Dan Larimer (recommended):
https://medium.com/@bytemaster/blockchain-governance-proposal-470478e42686

EOS New York on governance and incentives (recommended):
https://medium.com/eos-new-york/uniting-stake-holder-incentives-to-maximize-decentralization-performance-530af1560401

Podcasts

A brief explanation of the key principles of Libertarianism:

https://podcasts.apple.com/au/podcast/two-minute-crypto-key-concepts-11-what-is-libertarianism/id1441492450?i=1000452829550

A succinct rejection of Ripple’s claims of separation between it and XRP / Timestamp – 27.54 (highly recommended):

https://podcasts.apple.com/au/podcast/weekly-news-roundup-10-11-deals-bitwise-etf-ruling/id1480586463?i=1000453135310

YouTube

A wide-ranging and reasoned discussion of key crypto trends and issues between the Crypto Lark and Ivan on Tech:​

Light-hearted presentation aside, this is a useful round-up of recent positive metrics for BTC:

For when a newbie asks you to explain blockchain (recommended):

Colin decrypts the new EOS governance proposal – very thorough (highly recommended):

Colin on IRS tax ruling:

Infographics

The rate of growth of 1000 BTC addresses (purple line) now matches the early growth in Bitcoin’s network…:

https://twitter.com/woonomic/status/1182754062107852802/photo/1

EOS token values compared:

https://twitter.com/Douglas_Horn/status/1184615387243020290/photo/1

Website / Utility

If you are interested in tracking the make-up of BTC holdings:

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

A whale of a week. Remember price is only one of many metrics with which to evaluate the cryptosphere. As always, looking forward to your comments and suggestions.

Note on Sources:

Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.

Did You Go Out And Buy WD-40 Too??? – Part 2

October 19, 2019 Published by

WD-40 which stands for “water displacing” was first used by the military in the ’50s to clean up Atlas missile parts. Throughout the years, people have found over 2000 uses for WD-40. Growing up in the projects of NYC, I have seen my fair share of roaches, but I just found out I in addition to using Raid Roach spray, I could of used WD-40 for instant kills as well.

Three months ago, I wrote a post about WD-40,

Did You Go Out And Buy WD-40 Too???

We all know it, have seen it, probably even take it for granted. I’m talking about WD-40. It has infinite uses and is the real utility knife. Just to get you acquainted again with WD-40, here are just 10 of the the 2000 uses of WD-40.

Despite the bump up in price this week, the levels in play and to monitor are the $150 level on the downside and the $188 level on the upside.

I like to think I’m creative with my titles, so the title three months ago was a play on words. Everyone should have WD-40 in the cabinet. However, WD-40 wasn’t a buy three months ago simply put, because the upper limit was $190, the reward wasn’t worth the risk. But thinking about this further, I guess it’s all relative and depends on what type of investor / trader you are. Anyway lets get back to WD-40.

WD-40 is a straight cash money making machine.  The company has grown their dividends on a year basis that’s equivalent to 9% over the last 10 years.  WD-40 has been growing its earnings per share at 13% each year over the past 5 years.  It’s no wonder institutional investors hold almost 90% of the stock. 

WD-40 reported earnings this past week. Although they beat earnings expectations, their outlook was below expectations and on the news the stock price fell the next trading day, but came storming back closing $7 up on the day. However, the fact that price breached a major resistance/support line, I think the risk is to the downside now.

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.

Reducing Capital Gains Taxes on Real Estate, Legally!

October 19, 2019 Published by

There are many expenses involved when selling real estate taxes is one of the biggest, especially if you have to pay capital gains.

However, if you know the tax rules then the amount of taxes you pay (if any) can be drastically reduced.  Let’s cover a few ways to reduce that tax burden.

Reducing Capital Gains Taxes on Real Estate, Legally!

1.) Short-term vs Long-term capital gains

Properties that are held for more than a year are taxed at the long-term capital gains rate.  This is noteworthy because that tax rate is 0% up to $39,475 for a single filer.  Then it jumps to 15% and holds there all the way up to $434,000.

If you buy and sell a property within one year then it’s taxed as short-term gains and you pay the ordinary income tax rates which start off at 10% up to $9,700 and progresses to 12% up to $39,475 before jumping to 15% and so on and so forth with 37% being the top tax rate.

2.) Increase Your Cost Basis

The price you pay for a property is your cost basis in the eyes of the IRS.  Meaning if you spent 150K to acquire a property and sold it for 200K then you have a 50k taxable gain.

If you completed capital improvements on the property those costs can be added to your costs basis though.  Be sure to keep those receipts so you can tack on that 8K cost for a new roof and reduce the tax burden.

3.) Do a 1031-Exchange

Many investors have heard of this one and it gives you the ability to not pay capital gains (or technically postpone them) on the sale of a property by rolling the money into another property.

It’s deemed a “like-kind” exchange meaning you sell an investment property to buy another investment property that is used similarly.

There is a 45 day window to identify properties to the IRS that you plan to buy and then you must close on one of them within 180 days to avoid triggering the capital gains tax.

Plenty of other rules and methods…

Those are just three ways to alleviate the tax burden, there are many other options out there such as investing from a self-directed IRA and so on.  This is why it’s important to have a solid account knowledgeable in real estate investing.

Be sure to have them work you through the all the options and verify the examples I have given above as I’m an investor, not an accountant.

Having to pay some taxes is a good problem to have.  It means you are doing profitable deals and are buying right.  Always use the property calculator to ensure you buy right!

QLC technical analysis

October 18, 2019 Published by

QLC seen from the temporality of 1W we can see how the price has started to fall once reached the resistance located at 0.00000235, the current candle has found demand in the support located at 0.00000190, indicated in the graph by the first horizontal red color, however, the price should fall to the next zone of demand located at 0.00000114, if the price is able to close the above mentioned resistance forcefully, the price could have a larger bullish momentum that should reach our first target located within the price range of 0.00000374 – 0.00000461.

QLC seen from the temporality of 1D we can observe more closely the current movement of candles, we see that the price has formed two HL after the double floor formed on the diagonal support indicated on the chart by the diagonal dark blue, this is a good bullish signal, however, as long as the price does not manage to overcome the resistance located at 0.00000235 indicated in the chart above by the horizontal black color, the price should continue to fall towards the support diagonally forming a reversal pattern of SHS that would strengthen the strength of the bears inclining the price to the area of demand located at 0.00000114, even to the lower diagonal support that I have indicated in the chart above by a yellow circle, in the chart I have also drawn the possible trajectory that could still follow the price before breaking the resistance of this accumulation range.

In conclusion, QLC is in a moment of high uncertainty, because the follow up of the bullish momentum is respecting the 0.00000190 and this suggests that there could be a continuation bullish, however, the price must also make a next touch diagonally and this approach would increase the odds of a larger reversal, therefore, I recommend to follow closely the action of the price in 1D and always place stop loss in your trades to avoid possible invalidations during the move.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

The ETF, MSCI Is A Longer Term Sell

October 18, 2019 Published by

The U.S.-China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis, the International Monetary Fund warned on Tuesday, adding that the outlook could darken considerably if trade tensions remain unresolved.

Earlier this week, the International Monetary Fund (IMF) said its latest projections for the world economy show 2019 GDP growth at 3.0%, down from 3.2% in a July forecast.  The main culprit was the US-China trade war which is expected to cut 2019 global growth to its slowest pace since the Great Recession. 

Although, the US and China reached a phase I trade deal last week, the IMF stated if deal isn’t reached in the near future, the slowdown in the world economy could worsen, case in point….China.

China’s growth outlook for the remainder of the year and into 2020 is expected to weaken further because of obstacles including drag from the ongoing trade war with the United States, analysts said.

The next mile marker in China’s economic slowdown will come on Friday, when the country reports third quarter growth. Analysts expect it to slow to 6.1 per cent from the 6.2 per cent rate seen in the second quarter, which was the lowest growth rate since the government started publishing quarterly gross domestic product (GDP) statistics in the first quarter of 1992.

But analysts are rapidly revising down their expectations for 2020 below the lower end of this year’s growth range. Most forecasts put next year’s growth between 5.5 per cent and 5.9 per cent, with the International Monetary Fund’s just-released projection at 5.8 per cent.

Source

The MSCI Emerging Markets Index stands for Morgan Stanley Capital International (MSCI) and is an index used to measure equity market performance in global emerging markets.   The MSCI ETF that tracks this index is heavily exposed to China.  So where is price of the MSCI ETF headed, lets go to the charts?

Monthly Chart (Curve Time Frame) – monthly demand is at $120.

Weekly Chart (Trend Time Frame) – the trend is still up, but momentum appears to be stalling.

Daily Chart (Entry Time Frame) – the chart suggests once the support breaks, to look for shorts to the down side with a first target at the weekly demand at $172.

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.

What Stock Sectors are the Smart (Big) Money Investing In?

October 18, 2019 Published by

There is a saying to follow the smart money. With the performance of hedge funds over the past decade relative to the S&P 500 some may think that isn’t the smart money.

I’m smart enough to know they are still worth paying attention to because the sheer size of the positions they put on impact individual stocks and sectors.

Bank of America Merrill Lynch Fund Manager Survey

This survey gives us insight into what hedge fund managers are investing in, the latest survey showed money moving toward utilities, consumer staples and healthcare and out of energy and materials.

In addition to the movement within stock sectors there was an increase in bond holdings and a reduction in stock holdings.

This is what I recall from my view of the report which is proprietary/subscriber based.

VIA technical analysis

October 17, 2019 Published by

VIA seen from the temporality of 1W we can see how the current candle structure is forming a rounded floor which is likely to push the price towards a much larger bullish movement, the penultimate candle managed to close above the consolidation, followed by a doji candle, the current candle is bullish, however, with little volume, the pressure of sale is maintained, we can observe it in the superior wick that has formed until the moment, the indicator RSI has formed us a double floor with bullish inclination, this shows us a bullish divergence that is easily visible in the graph of above, the weekly demand is located in the 0.00002050.

VIA seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the structure is forming a rounded floor, in the RSI indicator I have pointed with an oval the area where the average in relation to the period of time between December 2018 and March 2019 made a movement similar to the one that the RSI indicator is making again in relation to the current period, If the situation repeats itself we could have a major upward movement like the one that happened previously and that I have indicated by means of a yellow circle in the RSI indicator, our first gain objective is located at 0. 00007567, if we have a strong volume input, this target can be easily reached, the second gain target is located at 0.00017044.

In conclusion, VIA maintains an excellent bullish pattern after consolidating in the weekly support located at 0.00002050, if the price maintains the bullish curvature, the probabilities of reaching the first profit target are very high, otherwise, the price could fall to the weekly demand, even fall towards the second zone of demand located at 0.00001062, I recommend to be very attentive to the action of the price in 1D and never forget to place stop loss in all your operations to avoid possible invalidations during the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

STEEM is today the 7th best performing crypto…

October 17, 2019 Published by

…out of the top 100.

Yesterday and specially today we are finally seeing a good move upwards on the STEEM price action and also on other “traditional” altcoins as MONERO, SIACOIN and NEM that were stagnant lately.

Despite we are still far below the 50 Days Moving Average (50DMA) it is really a good signal.

The 50DMA is one of the main tools/indicators used by the traders. STEEM will need to break that line for a few days in order to reaffirm a consolidation state and a initial indication of a possible Reversal.

Typically people used to trade around this line, because a breakout upwards very often indicates a Bullish Scenario while downwards is, of course Bearish, however we have to be very careful here because there are many traps already “programmed ” around the breakout.

So, in order to consider STEEM out of “Bears Jaws” we have to break that line and stay around or above for a 3 or 4 days more.

I’m not trading STEEM at all but buying small quantities these days however I am crossing fingers to see this scenario occurring soon.

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

AION technical analysis

October 16, 2019 Published by

AION seen from the temporality of 1W we can see how the structure of candles has remained within a range since the month of July 2019, the major figure is that of a descending wedge, indicated in the graph above by the two diagonals red, this wedge has entered into formation since August 2018, the price is currently at a key moment to look for the break, the key support located at 0.00000841, indicated in the graph by the horizontal blue color must be recovered to ensure a next bullish movement to get the break of the resistance of the major figure, if we achieve it, we should reach our first target located in the 0.00001900 that I have marked as an area of supply, the price could continue to reach our second target located within the price range of 0.00002167 – 0.00002704, indicated in the graph by the rectangle light blue.

AION seen from the temporality of 1D we can observe more closely the current movement of candles, I have indicated through a yellow circle, the current area where the price in its retreat has managed to withstand the support of the demand in 1D located at 0.00000780, indicated through the horizontal black color, the current candle is marking a long lower wick, signal of buying pressure in that area, to close so, would be a strong signal to go looking for the reclaim of the blue horizontal and continuation with bullish momentum.

In conclusion, AION has had a long run within the descending wedge, currently the price gives a strong signal of a movement with upward inclination, within the temporality of 1D, the price has come created a series of HL that the movement continues to respect, as I mentioned above, we must recover the key support located at 0.00000841 to then look for a much larger long movement, the daily candle is closing well, however, we must be very attentive to the action of the price of the next candles in 1D to secure our position, always remember to place stop loss in all your operations to avoid possible invalidations during the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

Two Minute Crypto – Key Concepts 12 -What is Bitcoin Maximalism?

October 15, 2019 Published by

Please click the link below to listen to the 58th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Consider dropping a like and or a review on iTunes or Podbean if you enjoy the podcast. Comments and critiques welcome.

External Podcast Links

https://podcasts.apple.com/au/podcast/two-minute-crypto-key-concepts-12-what-is-bitcoin-maximalism/id1441492450?i=1000453606089

or

https://www.podbean.com/eu/pb-ac5k8-c35e05

Transcript

Key Concepts 12 -What is Bitcoin Maximalism?

Welcome to Two Minute Crypto. Today’s instalment seeks
to shed some light on Bitcoin Maximalism. What follows is neither an
endorsement nor a repudiation but simply a description.

The term ‘Bitcoin Maximalism’ dates to December 2014 and was originally
used as a pejorative term by Vitalik Buterin, one of the co-founders of
Ethereum to describe Michael Goldstein, President of the
Satoshi Nakamoto Institute. Vitalik’s intent was to highlight what he viewed as
an unreasonably blinkered view of Bitcoin as the only true implementation of
crypto with all other projects essentially being scams.

Over time, hardcore BTC adherents have taken on the term as a badge of honour – proudly and loudly declaring themselves BTC Maximalists. In essence, this viewpoint states that: Bitcoin and only Bitcoin is a true expression of a decentralized cryptocurrency – all other chains being doomed to eventual failure and irrelevance. In addition, and perhaps more importantly, Bitcoin Maximalists believe that BTC is destined to overturn and replace the current legacy financial system.  This goes far beyond simply a store of value and ultimately sees BTC as the sole global reserve currency.

Bitcoin Maximalists, in general, see it as a duty to seek-out
and call-out other blockchain projects, labelling them either as outright scams
or as wasted efforts. They decry any development time poured into other chains
and posit that BTC, in time, will simply absorb and implement each and every
short-term advantage a competing crypto may seem to offer.

Some noted BTC Maximalists are Saifedean Ammous author of the
Bitcoin Standard, Tone Vays a former vice president of JP Morgan Chase, and Max
Kaiser another former Wall Streeter and early BTC evangelist. Murad Mahmudov,
Jimmy Song, Trace Meyer, Michael Goldstein, Francis Pouliot, and Stephen Livera
round-out the list of high-profile and profoundly unapologetic BTC Maximalists.

As I outlined in episode 23, I personally don’t adhere to a there can be only one perspective – however, I do believe that Bitcoin is leaps and bounds ahead of the competition in terms of decentralization, brand awareness, market penetration, and future potential investment return.

In any case, BTC Maximalism remains a highly significant narrative in the current crypto landscape. To date, it has shown no evidence of abating helped no doubt by the underwhelming performance of its peers over the last 18 months or so.

Thanks for listening

July 2026
S M T W T F S
 1234
567891011
12131415161718
19202122232425
262728293031  

Latest Media