Instead of hypothetically tracking cryptos, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. I then repeated the experiment on the 1st of January 2019. Think of it as a lazy man's Index Fund (no weighting or rebalancing), less technical, more fun (for me at least), and hopefully still a proxy for the market as a whole - or at the very least an interesting snapshot of the 2019 crypto space. I am trying to keep this project simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet. I try not to take sides or analyze, but rather report and document in a detached manner letting the numbers speak for themselves. The Rules: Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2019. Hold only. No selling. No trading. Report monthly. Compare loosely to the 2018 Top Ten Experiment.
Month Twelve and Year End Tally – UP 2% since January 2019
After a strong October, 2019 ended with two straight bloody months, each of the 2019 Top Ten cryptos finishing in the red. Here’s the finally tally after one year: after generous rounding, the 2019 Top Ten ended the year UP 2%. My $1,000 investment on the 1st of January 2019 is now worth $1017. For context, this same group of cryptos was up +114% at the peak in May 2019. The worst month (and the only month in the red) was January 2019. Additionally, the portfolio has fallen well behind the stock market as measured by the S&P 500 (see below).
Ranking and December Winners and Losers
Very little movement in December, with most of the cryptos glued to their positions. Only Stellar and Tron budged, each slipping one place to #11 and #12, respectively. 2019 has been a remarkably static year in terms of Top Ten positioning: most of the coins stuck close to their starting place. This is certainly not the case in the 2018 Top Ten Experiment where coins have fallen and fallen hard. December Winners – Tether, again. As always, when Tether is the best performer it signals a not great month for this portfolio. While not the nightmare it could have been, Tether won the majority of the months in 2019, as you can see in the chart below. Bitcoin finished in second place, down -2% in December. December Losers – In addition to dropping out of the Top Ten, Stellar lost about one-fifth of its value followed by Tron which was down -15%. For those keeping score, here is the 2019 year end tally of which coins had the most monthly wins and losses: Tether had twice as many wins as Bitcoin and BTCSV, which finished tied for second place. Bitcoin SV also finished the most monthly losses, finishing last in four months in 2019.
FINAL YEAR END RESULTS after tracking this group for 2019: Bitcoin far ahead, followed by Litecoin, and Bitcoin Cash. Stellar and Ripple at the bottom.
Let’s start with the winners: Bitcoin is up +89% and single-handedly prevented the entire 2019 Top Ten portfolio from finishing in the red (just barely). Bitcoin carved out a healthy lead in 2019: it is well ahead of second place Litecoin (+34%) and third place Bitcoin Cash (+22%). Many others ended 2019 flat or nearly flat. BTCSV, EOS, Ethereum, and of course Tether all finished the year close to where they started. The final three had significant losses: Tron, Ripple, and Stellar finished the year at -33%, -46%, and -61%, respectively. 2019 also saw Tron and Stellar booted out of the Top Ten, replaced by Binance Coin and Tezos. Quite the fall from grace for Stellar, which was the champion of the 2018 Top Ten Crypto Experiment. So there you have it. After one year, three coins in the green, four coins flat, three coins in the red.
Total Market Cap for the entire cryptocurrency sector:
Even though the year ended in a downward trend, the crypto market overall has had an undeniably positive year. One Year (2019) Final Market Cap Figures:
Since January 2019 – the total market cap for crypto has increased +49%
Worst Month – January 2019 ($114B total crypto market cap)
Best Month – June 2019 ($321B total crypto market cap)
The last time the total market cap reached $300B: August 2019
The last time the total market cap reached $200B: November 2019
Bitcoin dominance ticked back up in December and ends 2019 at 68%, a level not seen since September 2019. The range since the beginning of the year has been between a low of 50% in March and a high of 70% in September. The 70% figure in September also marks the Bitcoin dominance high since I started the experiment back in January 2018. The lowest level was 33% way back in February 2018.
Overall return on investment since January 1st, 2019:
After an initial $1000 investment, the 2019 Top Ten Portfolio is worth $1,017, UP about +2% in one year. The humble +2% gain of the 2019 Top Ten portfolio is dwarfed by the overall crypto market’s +49% gain and Bitcoin’s +89% gain. As mentioned earlier, the value of this group of coins was dragged down by the four flat cryptos and the three that finished deep in the red.
Lowest 2019 Top Ten portfolio value: January 2019 ($915)
Highest 2019 Top Ten portfolio value: May 2019 ($2139)
Here’s what the 2019 Ten Ten portfolio has returned throughout the year: The 2018 Top Ten Experiment is faring far, far worse, down -86%. Taken together, here’s the bottom bottom line: after a $2000 investment in both the 2018 and the 2019 Top Ten Cryptocurrencies, my portfolios are worth $1,153. That’s down about -42%.
Congratulations to Bitcoin which significantly outperformed the rest of the field to end the first year of the 2019 Top Ten experiment on top. Litecoin and Bitcoin Cash deserve honorable mentions as well, finishing in second and third places. Bitcoin also came out on top after the first two years of the 2018 Top Ten Index Fund Experiment. Unlike the 2018 Top Ten, there were examples of months in 2019 where holding this Top Ten group cryptos outperformed the overall market. This is surprising, as this has not been the case with the other group: for each of the first twenty-four months of the 2018 experiment, the strategy of solely holding the Top Ten Cryptos was a losing approach. That said, the year end difference between a +2% gain with the Top Ten approach vs. the +67% gain for the market overall of course implies that I would have done a lot better if I’d picked different cryptos. Or just stuck with Bitcoin and its +89% gain. In retrospect, it seems an easy/obvious choice, as choices normally do when looking backward. But by tracking the progress of these experiments monthly, I’m able to report another obvious point: crypto is a highly dynamic market. Stellar was the best performer of 2018, for example. And Litecoin looked like it was the crypto to beat for much of 2019, up +300% at the mid-year point. I’m also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. The S&P 500 is now up +29% since the beginning of 2019. My initial $1k investment into crypto would have yielded about +$290 had it been redirected to the S&P.
Although the 2019 Top Ten ended the December fairly flat, the overall market and Bitcoin in particular had a very strong year. The year is staring off with a bang, the market is up, the halvening approaches, and current sentiment towards crypto seems positive – 2020 will no doubt be another interesting year for cryptocurrency.
Thanks and Future of the Experiments:
Thanks for reading and for supporting the experiment(s). I hope you’ve found them helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. If you’re interested in the 2018 Top Ten Index Fund Experiment, you can check it out here. As for the future of the experiment:
I’ll continue to hold and will report on the Top Ten Cryptos of 2018.
I’ll continue to hold and will report on the Top Ten Cryptos of 2019.
I’ve also decided to repeat the experiment with the Top Ten Cryptos of 2020.
CryptoDiffer teamHello, everyone!We are glad to meet here:Max Freeman (@maxfreeman4), Project Lead at Epic CashYoga Dude (@Yogadude), PR&Marketing at Epic CashXenolink (@Xenolink), Advisor at Epic Cash Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here! Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here! Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us! CryptoDiffer teamLet`s start from the first introduction question:Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash? Yoga Dude PR&Marketing at Epic Cash Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing. I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially. Xenolink Advisor at Epic Cash Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers! Max Freeman Project Lead at Epic Cash I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level. CryptoDiffer team Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:) Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one? Max Freeman Project Lead at Epic Cash I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly. There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos that explain why we believe we have created something truly special here. Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange. Yoga Dude PR&Marketing at Epic Cash Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility. Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved. Xenolink Advisor at Epic Cash To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry. To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone. CryptoDiffer team Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months? Yoga Dude PR&Marketing at Epic Cash Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content. We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money. You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages Max Freeman Project Lead at Epic Cash Our future development roadmap will be published soon and includes 4 tracks: Usability Mining Core Protocol Ecosystem Development Core Protocol Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020 Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020 Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a Usability GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020 Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020 Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a Mining RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin. Ecosystem Development Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a Xenolink Advisor at Epic Cash From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide. CryptoDiffer team Great, thank you for your answers, we now can move to community questions part! Cryptodiffer Community You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC? Max Freeman Project Lead at Epic Cash The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part. Cryptodiffer Community To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from? Xenolink Advisor at Epic Cash Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project. Cryptodiffer Community Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you! Yoga Dude PR&Marketing at Epic Cash First, I must admit that I am still a huge fan and HODLer of Monero. That said: ✅ our blockchain is MUCH lighter than Monero’s ✅ our transaction processing speed is much faster ✅ our address-less blockchain is more private ✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU Cryptodiffer Community
the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community $EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future? Who is Epic Biggest competitors? And what’s makes epic better than competitors? Xenolink Advisor at Epic Cash We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity. Cryptodiffer Community What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Yoga Dude PR&Marketing at Epic Cash Since we are a community project, we have many developers, in addition to the core team. Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks. We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked. Cryptodiffer Community EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges? Xenolink Advisor at Epic Cash In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Max Freeman Project Lead at Epic Cash Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic. With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash. As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability Cryptodiffer Community Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ? Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors? Max Freeman Project Lead at Epic Cash RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware. Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses. Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware. The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved. Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem? Xenolink Advisor at Epic Cash Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic. Cryptodiffer Community I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto? What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ? Yoga Dude Pr&Marketing at Epic Cash Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential. The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers. The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique Cryptodiffer Community Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI? Yoga Dude PR&Marketing at Epic Cash We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on. Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way. Cryptodiffer Community If you could choose one celebrity to promote Epic-cash, who that would be? Max Freeman Project Lead at Epic Cash I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences. I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today. Epic Cash will have its OWN Celebrities Cryptodiffer Community How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it? Xenolink Advisor at Epic Cash Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin. Cryptodiffer Community what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? Max Freeman Project Lead at Epic Cash There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make. Cryptodiffer Community Q1 : What are your major goals to archive in the next 3–4 years? Q2 : What are your plans to expand and gain more adoption? Yoga Dude Pr&Marketing at Epic Cash Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁 We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting. Cryptodiffer Community It seems to me that EpicCash will have its first Halving, right? Why a halving so soon? Is a mobile version feasible? Max Freeman Project Lead at Epic Cash Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140. Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining. Cryptodiffer Community What markets will you add after that? Yoga Dude PR&Marketing at Epic Cash Well, we are aiming to have ALL markets Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry) We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages. Epic Cash is More than Money and its for Everyone. Cryptodiffer Community Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins? Max Freeman Project Lead at Epic Cash With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can. Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Xenolink Advisor at Epic Cash Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash. Cryptodiffer Community
You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well. Cryptodiffer Community Do EPICs in 2020 focus more on research and coding, or on sales and implementation? Yoga Dude PR&Marketing at Epic Cash We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy. In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC. Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters. Everyone with skin in the game gets the benefit of advancing the cause. Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content — https://www.youtube.com/watch?v=XtAVEqKGgqY a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this Cryptodiffer Community I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex? Let’s talk about the economic model, can EpicCash comply with the concept of value reserve? Max Freeman Project Lead at Epic Cash In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader. We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166 Max Freeman Project Lead at Epic Cash Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project. Xenolink Advisor at Epic Cash Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash . Yoga Dude Pr&Marketing at Epic Cash Thank you, CryptoDiffer Team, and this wonderful Community!!! Cryptodiffer TEAM Thank you everyone for taking your time and asking great questions Thank you for your time, it was an insightful session Spread the love
Dash Competitive Basket Index for Thursday, 19 March, 2020. We are not dead, and we are not a cat. Dash did very _very_ well today.
Dash screamed to the top of the charts today. We gained three ranks as well. We are not dead, and we are not a cat. And I’m just going to keep pounding on the idea that we do just as many transactions as Litecoin, and the trend is that we will pass Litecoin (see chart below). We are more secure than LiteCoin (thanks ChainLocks!). We have optional on-chain trustless privacy (thanks PrivateSend!), litecoin doesn’t. We are faster than litecoin (thanks 2nd layer InstantSend!). Historically, we have far more innovations (widely copied I might add) than litecoin. Go ahead, make a list of everything LiteCoin has invented. And we have far more active development today. Better governance, self funding, etc etc etc etc. And yet, litecoin has 4x our market cap, and is ranked 6th while we are at #20. This cannot be allowed. When the crypto market gains rationality, we will pass Litecoin…...mark my words. I’m not actually hating on Litecoin, there is room for lots of winners in the crypto sphere. Litecoin is not my enemy. But sooner or later, value has to reflect utility and usage.
Dash outperformed 18 of the 19 cryptos listed above us on CoinPaprika (95% win rate). The 30 day SMA* is 30.0%
Dash outperformed 10 of the 10 cryptos ranked below us (100% win rate). The 30 day SMA* is 33.0%.
In total, Dash outperformed 28 of the top 29 cryptos (97% win rate). The 30 day SMA* is 31.9%.
Bitcoin dominance gained 3/10’s to 63.7%
25 of the top 29 cryptos beat Bitcoin (86%).
On the 7 day time frame, only 8 of the top 30 cryptos (27%) were in the green. Yes, Dash was leading the pack.
But on the 24 hour time frame, 27 of the top 30 (90%) cryptos were in the green.
Dash continues to dominate the crypto sector with a big stick. The CBI data reflects that. Back in 10th spot.
Business as usual. Dash continues to dominate the sector with a big stick. And we’re back in the top 10. All the moving averages are well over the healthy 50% mark. We beat everything except Bitcoin SV. When Satoshi’s Treasure starts moving again, and Craig starts paying his bills with it, I will start respecting SV. LiteCoin is a mere 3 ranks above us, and in technical merit, active development, real world use, etc etc etc, LiteCoin does not compare well to Dash. We need to be above LiteCoin. Note the graph comparing LiteCoin transactions to Dash transactions below.
Dash outperformed 8 of the 9 cryptos ranked above us (89%). The 30 day SMA* is 57.1%.
Dash outperformed 10 of the 10 cryptos ranked below us (100%)(again, 12 days.) The 30 day SMA* is 60.7%.
In total, Dash outperformed 18 of the top 19 cryptos (95%). The 30 day SMA* is 58.3%.
Bitcoin dominance gained back 6/10ths) to 65.8%.
15 of the top 19 crypto projects beat Bitcoin (79%).
18 of the top 20 crypto projects were in the green (90%).
See the full rewards table on site. SDT is now available as trading pairs and for betting on Play Royal games. As promised, USDT is now live. Use the USD stable coin in our exchange, or simply play any of the Play Royal created games found on our system using the ERC-20 token. USDT, BTC and PLAY betting on Betsoft games will be coming soon, so stay tuned. BTC is now enabled on Play Royal in both the exchange and a large portion of our games. Play our provably fair games on Play Royal with PLAY, RWD, TRX, ETH, BTC and USDT PlayRoyal RoadMap: https://preview.redd.it/bqr1ui3dksu31.jpg?width=1200&format=pjpg&auto=webp&s=5cb413c6813112fbc10dbdfb68f4899c10419c20 Q4-2019 ⁃ Bitcoin (BTC) Full integration (Games+Exchange) - Done ⁃ Litecoin (LTC) Full integration (Games+Exchange) ⁃ EOS (EOS) Full integration (Games+Exchange) ⁃ Matic (MATIC) Full integration (Games+Exchange) ⁃ Launching an Epic Referral System platform wide - Done ⁃ Daily tasks ⁃ News section - Done ⁃ Integrated forum ⁃ Special VIP features ⁃ Launch Deposit Bonuses - Done ⁃ Notification inbox ⁃ The Return of the New enhanced FOMO3D ⁃ The Return of the New enhanced Multiplayer Dice ⁃ Daily Race Cash prizes to replace mining bonus ⁃ Poker sit'n'go, tournaments and jackpots ⁃ PVP games between players ⁃ Poker optimization for mobile ⁃ List Play Token on Delta & Portfolio ⁃ List Play Royal Exchange on coinmarketcap.com and coingecko.com - Done ⁃ Launching Crash The Moon Multiplayer Game ⁃ Esports ⁃ More Autobet Features on Games ⁃ Changing Maximum bet to Maximum win on Dice ⁃ Launching a Marketing Campaign – In progress and Ongoing ⁃ Adding More languages to the Play Royal Platform - Done ⁃ Onboarding experience for new players with rewards ⁃ Landing pages + more content on each page Partnerships: https://preview.redd.it/zpzk7prmksu31.png?width=730&format=png&auto=webp&s=f8bdf3feb982a0f462594aa1cc8e394a1e7ec38d DappStats, FIO.Social, Crypto Alliance, BETSOFT, and more to come. Play Royal is not just about the game but also about the experience. Play Royal has made moves to improve the user interface, reliability, community environment with CEO Tony Discord AMA and much more. If you have not tried out play royal now is the time. Press Play and come see how it feels to be Royal. Daily News 25 October 2019 PLAY ROYAL🔹Best Online Crypto Casino & Crypto Exchange Platform 🔹 🚧 Hello PLAYers! BlackJack is currently under maintenance. We thank you for your patience 🙏 🚧 USDT Now On Play Royal 🚀🚀🚀 Hello fellow players! As promised, USDT is now live. Use the USD stable coin in our exchange to beat the market, or simply play any of the Play Royal created games found on our system using the ERC-20 token. USDT, BTC and PLAY betting on Betsoft games will be coming soon, so stay tuned. We have plenty of exciting updates planned for Q4 of 2019. Stay tuned in the coming week for our first ever exciting holiday event as things at Play Royal get a little spooky. COMPETITION: PLAYROYAL Referral Competition 🎁🎁🎁 Competition Period: Oct 12, 2019 8:00 AM utc - Nov 1, 2019 8 PM utc 🧿 View LEADERBOARD ⛏ Current Mining Efficiencies: ▪️ Round 33 of 250 (Current Round Progress: 2.748% ) 🚀 BTC ➡️ 0.000159 BTC : 1 RWD + 50% RWD 🚀 USDT ➡️ 1.29 USDT : 1 RWD + 50% RWD 🚀 PLAY ➡️ 23,333 PLAY :1 RWD + 30% RWD 🚀 ETH ➡️ 0.0084 ETH : 1 RWD + 25% RWD 🚀 TRX ➡️ 84 TRX : 1 RWD + 25% RWD Daily Party: Burn your RWD tokens to get your share of the pool, There is a: 50% bonus for RWD burned for the first 12 hours 25% bonus for the following 8 hours, with the 0% bonus for the Final 4 hours 🔥 First 12 hours ➕ 50% Bonus 🔥 12th - 20th hour ➕ 25% Bonus 🔥 Last 4 hours ➕ 0% Bonus 🔥🔥🔥Weekly RWD Burn🔥🔥🔥 64,821 RWD been burned from playing with RWD - http://tronscan.org/#/transaction 🔲 Need Help? Join Debug Telegram 👁🗨👁🗨 🔲 Texas Hold'em Telegram Poker Lounge ♠️ 🔲 Official PlayRoyal Announcement Channel 🔲 Wagered RWD Burn Counter - From Playing With RWD 🔲 How to Play the MAX QUEST: Wrath of Ra Slot? 🔲 RoadMap Chart 🔲 Discord AMA With PlayRoyal CEO Tony - PDF Link ❇️❇️ Stay tuned as the exciting announcements at Play Royal don’t slow down. 😉😉 Happy trading and happy gaming! 📝📝
Dash Competitive Basket Index for Saturday, 14 December, 2019. The win rates today were so-so, but........
Nothing special today for win rates. But not terrible either. It’s always fun to beat Bitcoin. All three moving averages stayed the same or move up a bit. And check out our all time transaction chart against LiteCoin. Neck and neck I tell you. Why are we not creaming LiteCoin and BitCoin Cash, and Bitcoin SV??? For the previous 7 day time frame:
Dash outperformed 10 of the 23 coins ranked above us (44%). The 30 day SMA* is 42.1%.
Dash outperformed 3 of the 10 coins ranked below us (30%). The 30 day SMA* is 35.0%.
In total, Dash outperformed 13 of the top 33 coins (40%). The 30 day SMA* is 39.8%.
Bitcoin dominance dropped a10th to 66.1%.
25 of the top 33 crypto projects beat Bitcoin (76%)
8 of the top 33 crypto projects were in the green (24%)
Dash Competitive Basket Index for Sunday, 8 September, 2019. Yesterday was amazing. Today was better.
Yesterday was amazing. Today was better. 30 day average starting to get dragged upwards again. Long term outlook: Do banks suddenly care about the rank and file? Nope. Do shady governments suddenly respect the wealth and property and privacy of their citizens? Nope. Are stupid dictators less likely to attempt to inflate their way out of the latest emergency? Are there still 2 or 3 Billion people with virtually no banking services? Yes, yes there are. Can you easily send money to Venezuela or Zimbabwe through the legacy banking system without paying an arm and a leg? No, you cannot. For the previous 7 day period:
Dash outperformed 11 of the 15 coins ranked above us (73%). The 30 day SMA is 41%.
Dash outperformed 9 of the 10 coins ranked below us (90%). The 30 day SMA is 48%.
In total, Dash outperformed 20 of the top 25 coins (80%). The 30 day SMA is 44%.
Dash Competitive Basket Index for Monday, 28 October, 2019. Better. And let's take a step back and look at real world use.
Better than yesterday (again), but still nothing to write home about. We’re still in the top 20, so that’s something. Since Thursday, Dash gained 17.9% in dollar value. That certainly helps the buying power of the monthly Treasury. Everybody gained dollar value except the stable coins. All three of the moving average numbers went up again. But let’s look for just a moment at real world use. Let’s be totally honest here, sooner or later, real world use of the actual crypto products HAS TO MATTER. Otherwise, crypto really is just another tulip mania like Jamie Dimon says it is. Jamie Dimon is wrong. Fundamentally, foundationally, bedrock level wrong. Somebody is going to become wildly successful at offering the unbanked and underbanked access to honest, simple, person to person digital cash. Duh….that’s Dash. So let’s look at real world use numbers. When Dash got started in early 2014, LiteCoin had 8-10x the number of transactions that Dash had. Ever since then, Dash has been gaining on LiteCoin. Look at the transaction numbers on the chart below. We regularly beat LiteCoin. Why are we not crushing LiteCoin? In terms of features, governance, innovation, community support and number of transactions, we ARE crushing LiteCoin. For the previous 7 day time frame:
Dash outperformed 7 of the 18 coins ranked above us (39%). The 30 day SMA* is 31.2%.
Dash outperformed 5 of the 10 coins ranked below us (50%). The 30 day SMA* is 33.3%.
In total, Dash outperformed 12 of the top 28 coins (43%). The 30 day SMA* is 32.0%.
Bitcoin dominance dropped 6/10’s after yesterday’s enormous gain. (67.1%).
5 of the top 28 coins beat Bitcoin (17.9%).
25 of the top 28 cryptos were in the green (92.6%).
Dash Competitive Basket Index for Tuesday, 15 October, 2019. Well, it's not a rocket, but it's getting better.
Getting there. It’s not a rocket, but it is movement in the correct direction. In the last 24 hours the dollar value of Dash went up $1.64, so that’s not chicken feed. On the 24 hour time frame, we are beating 14 of the 17 coins listed above us and 9 of the 10 coins listed below us. While that is very bullish, the 24 hour data is notoriously fickle. I don’t trust it until the good news turns up in the 7 day data. I suspect it will take a few days for the great news that Dash is getting listed on Binance US to percolate through the cryptosphere. And since Tok reminded me (Thanks!) I’ll print the long term transaction chart comparing Dash to LiteCoin. For those who prefer the hard numbers, when Dash first came on line, LiteCoin had approximately 10x the transactions of Dash. Today we make 75.9% as many transactions as LiteCoin, and we’re still gaining on them. We also occasionally surpass their numbers. So if the market really cared about adoption and real world use, Dash should have a market cap that is 75% of LiteCoin and gaining. That would put the Dash market cap at around 2.6 Billion instead of 0.66 Billion. Or a dollar value per Dash of $280. We have a far more talented and active dev team. We have 20x the number of innovations. Why are we not kicking the snot out of LiteCoin? For the previous 7 day time frame:
Dash outperformed 6 of the 17 coins ranked above us (35%). The 30 day SMA* is 41.4%.
Dash outperformed 3 of the 10 coins ranked below us (30%). The 30 day SMA* is 40.0%.
In total, Dash outperformed 9 of the top 27 coins (33%). The 30 day SMA* is 40.8%.
Bitcoin dominance was unchanged at 65.5%.
16 of the top 27 coins beat Bitcoin (59.3%) not including Dash.
17 of the top 27 cryptos were in the green (63.0%) not including Dash.
Why Bitcoin and all crypto-currencies will continue to plummet
When Bitcoin first started to gain some traction, what were the selling points? The first was that it was useful; the block-chain technology offered a currency that was infinitely divisible, decentralized, and open source. Although the Bitcoin nay-sayers have attacked some of these merits, I don’t think this is where the problem lies. Bitcoin and block-chain technology is clearly very innovative and useful. However, besides being useful, the other crucial selling point of Bitcoin is its scarcity. A currency is utterly worthless if it can be created or counterfeited at will. Bitcoin seemed to easily answer this problem by setting a hard limit on the number of possible Bitcoins to ever exist – 21 million. As these Bitcoins are “mined”, the mining process becomes more difficult and more time consuming, meaning the rate at which new Bitcoin comes into existence slows asymptotically. Additionally, considering that all Bitcoin is stored digitally, there is an increasing amount of the currency that is stored on hard drives that are either inaccessible or destroyed. In other words, we will reach a point where the amount of usable bitcoin in circulation actually decreases. Then it seems as though Bitcoin has the problem of scarcity solved, right? After all, it can’t be counterfeited and no more than 21 million can ever be created! Well, it depends. Let’s take a quick detour into simple economics. Let’s say you are looking to buy some peanut butter. You find the peanut butter aisle and see a couple of different brands. You see a jar of Skippy peanut butter priced at $4 and an equally sized jar of Jif for $5. In your mind, peanut butter is peanut butter, so you go with the less expensive Skippy brand. In this case, Skippy and Jif are considered substitutes. Furthermore, in your mind, they are perfect substitutes, meaning you will always choose the cheaper one regardless of how much cheaper it is. But what if everyone considered Skippy and Jiff to be perfect substitutes? Well, it should be pretty obvious that in this case, Skippy peanut butter would be flying off the shelves and not a single jar of Jif would be sold (assuming sufficient Skippy brand was in stock, of course). How would the manufacturers respond to this situation? Well, if Skippy was smart, they would raise the price until the price was only one penny less than that of Jif. They would still ensure that only Skippy brand butter was bought, and they would maximize their profit per jar sold. But Jif, being equally smart, would try to adopt the same strategy and always attempt to beat the price of Skippy by a penny. This perfectly competitive behavior would ultimately result in each firm producing and selling peanut butter at the same price- competitive equilibrium. The important lesson is that perfect substitutes will have identical prices, and any change in one price would mean an identical change in the other. So how does this knowledge of substitutes and perfect substitutes apply to crypto-currency? It should be fairly obvious by now that I mean to show that Bitcoin has near-perfect substitutes. Of course, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin are not identical. There are differences in fees, payment processing times, and infrastructure among these most popular currencies. In fact, even the prices of each coin are staggeringly different. How then, can I argue that these coins are perfect substitutes, or even substitutes at all? First, we must acknowledge the fact that the vast majority of crypto-currency investors are very poorly informed when it comes to the technical aspects of any given coin. The vast majority of investors also do not even intend to use their crypto-currencies as currency, but instead are holding these currencies as a speculative venture. In other words, the difficult-to-understand technical differences between these coins don’t even exist for the majority of investors. But if these coins are perfect substitutes in the eyes of investors, why are the prices so drastically different? Didn’t I just explain that perfect substitutes have identical prices? Well, in one sense, the prices are very different. The price of bitcoin is close to $4000 and Ethereum is hovering around $35. This would seem to indicate that Ethereum and Bitcoin are very different. But we have to remember that we are talking about digital, infinitely divisible, scale-independent items. These aren’t like jars of peanut butter. The important thing is that any movements made in the price of Bitcoin are mirrored, to scale, in the price of Ethereum, Bitcoin cash, and Litecoin among other coins. This can be seen at almost any time in the Coinbase App, where the price history charts for any established coin appear to move identically 95% of the time. This symmetry in price indicates that the vast majority of crypto investors view these coins as nearly identical, perfect substitutes. So what’s the big deal? What’s wrong with having substitutes? Well, having perfect substitutes for Bitcoin defeats, entirely, the purpose of artificial scarcity. There may only be 21 million Bitcoins that can ever exist, but there is absolutely no bound on the number of identical crypto-coins that can exist. Saying Bitcoin is valuable because it is scarce is like saying Skippy peanut butter is extraordinarily valuable because the company will only ever make 21 million jars, even though a different company with the identical recipe continues production. Skippy peanut butter really isn’t scarce, and neither is Bitcoin. New crypto-currencies pop up like daisies because there is an ability to make an immense profit from an ICO. But where does that money come from? In almost all certainty, this money is largely coming from money invested in other coins. In other words, it is money that is being moved from one coin to another as opposed to brand new investment. This is important. The amount of money being invested into crypto currencies exploded during Bitcoin’s rise to $20,000, but has since tapered off. At this point, especially when the prices of all crypto-currencies are falling, new investment is extremely hard to come by. Every day, there is less money and more coins (perfect substitutes) to invest it in. This means the prices of all coins will continue to fall, barring some extraordinary increase to crypto investment. But even with an increase to crypto investment, new coins will continue to be created, and speculative investment will continue to be split further and further. There is no reason to think this trend will change. This will continue until nearly all speculative investment in crypto currency is withdrawn or lost. After the dust settles, this will ultimately result in coins with different prices (much lower than current values) according to infrastructure and usefulness. All coins that have no real infrastructure or use as a currency will reach $0, and all crypto investment will be focused on a few, easily purchasable, easily usable coins. But we still have a long way to fall. The fact that the prices of the most popular crypto-currencies essentially mirror one another despite important technical differences between each coin indicates that the vast majority of remaining crypto investment is speculative as opposed to real investment. The bubble is still popping.
Let us not forget the original reason we needed the NYA agreement in the first place. Centralization in mining manufacturing has allowed for pools to grow too powerful, granting them the power to veto protocol changes, giving them bargaining powers where there should be none.
SegWit2x through the NYA agreement was a compromise with a group of Chinese mining pools who all march to the beat of the same drum. Antpool, ViaBTC, BTC.TOP, btc.com, CANOE, bitcoin.com are all financially linked or linked through correlated behavior. Antpool, ConnectBTC and btc.com being directly controlled by bitmain, and ViaBTC and Bitmain have a "shared investor relationship". If bitmain is against position A, then all those other pools have historically followed its footsteps. As Jimmy Song explains here the NYA compromise was because only a small minority of individuals with a disproportionate amount of hashrate were against Segwit (Bitmain and subsidiaries listed above), where the rest of the majority of signatories of NYA were pro-segwit. The purpose of the compromise was to prevent a chain split, which would cause damage to the ecosystem and a loss of confidence in bitcoin generally. At current time of calculation, according to blockchain.info hashrate charts, these pools account for 47.6% of the hashrate. What does it matter if these pools are running a shell game of different subsidiaries or CEO's if they all follow a single individual's orders? 47.6% is enough hashrate right now to preform a 51% attack on the network with mining luck factored in. This statistic alone should demonstrate the enormous threat that Bitmain has placed on the entire bitcoin ecosystem. It has compromised the decentralized model of mining through monopolizing ASIC manufacturing which has lead to a scenario in which bitcoins security model is threatened. But let us explore the reasoning behind these individuals actions by taking a look at history. First, Bitmain has consistently supported consensus breaking alternative clients by supporting bitcoin classic, supporting Bitcoin Unlimited and its horrifically broken "emergent consensus" algorithm, responding to BIP148 with a UAHF declaration, and then once realizing that BIP148/BIP91 would be successful at activating Segwit without splitting the network Bitmain abandoned its attempt at a "UAHF", and admitted that bitcoin cash is based on the UAHF on their blog post. The very notion of attempting to compromise with an entity to prevent a split that is supporting a split is illogical by nature and a pointless exercise. Let us not forget that Bitmain was so diametrically opposed to Segwit that it sabatoged Litecoins Segwit Activation period to prevent Segwit from activating on Litecoin. Do these actions sound like a rational actor who has the best interests of bitcoin at heart? Or does this sound like an authoritarian regime that wants to stifle information at any cost to prevent the public from seeing the benefits that SegWit provides? But the real question must still be asked. Why? Why would Bitmain who is so focused on increasing the blocksize to reduce fee pressure delay a protocol upgrade that both increases blocksize and reduces fee pressure? If miners are financially incentivized to behave in a way in which is economically favorable to bitcoin, then why would they purposefully sabatoge protocol improvements that will increase the long term success survival of bitcoin? There is plenty of evidence that suggests covert ASICBOOST, a mechanism in which a ASIC miner short cuts bitcoins proof of work process (grinding nonce, transaction ordering) and an innovation that Bitmain holds a patent for in China is the real reason Bitmain originally blocked SegWits activation. It was speculated by Bitcoin Core developer Gregory Maxwell that this covert asicboost technology could earn Bitmain 100 Million dollars a year. It is notable that Hardfork proposals that Bitmain has supported, such as Bitcoin Classic, Bitcoin Unlimited, Bitcoin ABC/Bcash and now SegWit2x all preserve Bitmains covert asicboost technology while Segwit the soft fork breaks asicboosts effectiveness. But if that is not enough of a demonstration of rational economic incentives to behave in such a way, then what about irrational reasons such a idelogical positions or pride? Its no secret that Chinese miners dislike for bitcoin core matured when the Hong Kong agreement was broken. Many miners have consistently rationlized "firing bitcoin core developers" and we even have a direct account from a bitpay employee that said Jihan directly told him that is his purpose is to "get rid of blockstream and core developers". And while the Hong Kong agreement being broken is quite the muddied waters, there is proof in the blockchain that chinese miners were the first to break the terms of the agreement by mining a block with a alternative client. Some bitcoin core developers continued to work on HardFork proposals despite this, offering up public proposals, BIPs and released code to attempt to satisfy the terms of the agreement. Yet only in hindsight did everyone realize that no individual or individuals can force the entire bitcoin network to upgrade. It is only through the slow methodical process of social consensus building that we can get such a large decentralized global network to agree to upgrade the protocol in a safe manner. Yet to this day we still have bitter idelogical wars over this HK agreement "being broken" despite how long ago, and how clear the situation is in hindsight. When you take into account the historical record of these individuals and businesses actions it clearly demonstrates a pattern of behavior that undermines the long term health of bitcoin. When you analyze their behavior from a rational economic viewpoint, you can clearly see that they are sabatoging the long term health of bitcoin to preserve short term profits. Considering this information, why would other bitcoin ecosystem businesses "compromise" with such a malicious actor? Let us not forget that these actors were the entire reason we needed to compromise in the first place went ahead and forked the bitcoin network already creating the first bitcoin-shared-history altcoin, Bitcoin ABC. So we compromised with people to prevent the spliting of bitcoin, so that they could go ahead and split bitcoin? What illogical insanity is this? Why would you "stick to your guns" on an agreement that was nullified the moment Bitmain and ViaBTC supported a hardfork outside of the S2X agreement? Doubly questionably is your support when the hardfork is highly contentious and guaranteed to cause a split, damage bitcoin, create chaos and damage global confidence. A lot of the signatories of the NYA agreement are payment processors and gateway businesses. Their financial health depends upon short term growth of bitcoin to increase business activity and shore up investors capital with revenue from that transactional growth. Their priorities are to ensure short term growth and to appease their investors. But their actions demonstrate a type of cause and effect that often occurs in markets across the world. By redistributing network resource costs to node operators they are simply shuffling costs to the public so that they can benefit in the short term without needing to allocate extra capital. But these actions do not benefit the health of bitcoin long term. Splitting the network, once again, does not increase confidence in the bitcoin network. It does not foster growth. Increasing the blocksize after segwit already increases the blocksize will not get us any closer to VISA transaction levels from a statistical viewpoint. Increasing the TPS from 3 to 7 when we need to get to 30,000 TPS is quite an illogical decision at face value. Increasing the blocksize on-chain to get to that level would destroy any pretense at decentralization long before we even came close, and without decentralization we have no cenosorship resistence, fungibility. These are fundamental to the value of bitcoin as a network and currency. Polymath and industry wide respected crypto expert Nick Szabo has written extensively on scaling bitcoin and why layer 2 networks are essential. To all the Signatories of the SegWit2X I ask you - What are you trying to accomplish by splitting bitcoin once again? What consensus building have you done to ensure that bitcoin wont suffer a catastrophic contentious hard fork? As it stands right now I only see a portion of the economic actors in the bitcoin ecosystem supporting S2X. No where near enough to prevent miners from supporting the legacy chain when there will be a large portion of the economy still operating on the legacy chain preserving its value. Where there is money Its going to be extremely difficult to topple the status quo/legacy network and the cards are stacked against you. Without full consensus from the majority of developers, economic actors/nodes, exchanges, payment processors, gateways, wallets....you will only fork yourself from the legacy network and reap destruction and chaos as the legacy chain and S2X battle it out. If you truly support bitcoin and are dedicated to the long term success of bitcoin and your business, then why would you engage/compromise with demonstratably malicious actors within the bitcoin ecosystem to accomplish a goal that was designed by them to further monopolize/centralize their control, at the destruction of bitcoins security model? Bitcoin core developers are actually positive on hardforks and want to eventually increase the legacy blocksize, they just wish to do it in a responsible manner that does not put the network at risk like SegWit2x does. Also, it seems a rational engineering choice to optimize and compress transactions/protocols before increasing the blocksize. Things like SegWit, Schnorr, MAST are all great examples of things Bitcoin Core has done and is doing to increase on-chain scaling technology to the long term benefit of bitcoin. The fate of bitcoin will be determined by users who choose when how and where they transact. If businesses attempt to force them on the S2X chain they will abandon those businesses to use a servicor that does not attempt through coercion to force them upon a specific forked network. Finally, without replay protection there can be no clean split and no free market mechanism to determine the winner. I understand that this is purposefully designed this way, to force a war between the legacy chain and S2X, but if you stand for everything bitcoin stands for, then you as central actors will not try to force people onto your chain. Instead, you should allow the market to decide which chain is more valuable. If you will not abandon this poisonous hardfork pill then please advocate/lobby to add default replay protection to the btc1 codebase. You cannot claim Free Market principals and then on the other side of your mouth collude with central actors to force protocol changes upon users. Either you believe in bitcoin, or you are here to join the miners in their poorly disguised behaviors to monopolize, subvert and sabatoge bitcoin.
Bitcoin's currency uses: it's getting worse, not better
At this stage we may be at a peak of this bubble, so these problems may very well be transient, but: a) I just looked at fee charts and the average fee for Bitcoin is $27 while Bitcoin Cash and Litecoin are about $0.15. b) Volatility is enormous, so you can't either pay or get paid without a risk to lose a lot of money (most people still have to pay their expenses in fiat). Yes, now there are futures to hedge your currency risk, but that's KYC/AML, you could as well sell BTC and buy that lambo using fiat. The LN proponents say LN will make the fees trivial, say $0.01/tx. But if I have to pay $10 to open and $10 to close a channel, and open/close two channels every month, I'd still have to make 120 transactions to beat Litecoin and Bitcoin Cash transaction fees. I agree with a counter-argument that as soon as transaction volumes on the BCH and LTC chains grow to a meaningful level, their tx fees would increase a lot, so it wouldn't take 120 tx per person to make LN more attractive in terms of tx fees. But then there are other coins and centralized exchanges. Last summer I wrote a post saying that centralized crypto exchanges and wallets are centralized L2 solutions (which may be why many were in favor of SegWit 2X). If my wallet can create a funding LTC address at my exchange or wallet provider, you don't need to make an on-chain or even L2 transaction at all - you just convert your BTC or BCH to LTC using the exchange, and credit LTC to my funding address. It works faster and can be cheaper. It's not a "winner takes all" situation. There are use cases for permissionless and decentralized payments and there are use cases for permissioned and centralized. And there's a "store of value" use case that Bitcoin still does well. Maybe some will say that the Bitcoin bubble is a good news because their stash is getting more valuable in fiat terms. Fair enough, but Bitcoin as a currency is hardly getting better. By now I am skeptical that the ongoing scalability efforts will yield results anytime soon. A way to summarize the current situation is:
Bitcoin isn't suitable for low-value purchases and will remain unsuitable or inconvenient for many months, maybe years.
Bitcoin isn't suitable for high-value purchases either, because the volatility means the seller or buyer can easily lose 000's of dollars by working with Bitcoin.
IMO the only use case that works well and may continue to perform well is permissionless transfer of significant value (e.g. $500 or larger value). (Bitcoin as Store of Value isn't sustainable if other things don't work, or if the bubble bursts.) I want to use Bitcoin even if it's just for that single use case, but to be honest when it comes to payments I'm beginning to wonder why wait for Layer 2 or Layer 3 solutions when I can use Tier 2 and Tier 3 altcoins (and/or Bitcoin forks) now. PS: I was away for a week or two and I'm disappointed to see so many shitposts about long confirmation times. It appears the efforts to attract users from the failed Bitcoin subreddits have worked way too well!
With cryptocurrency, buy the substance, sell the hype
With cryptocurrency, buy the substance, sell the hype The prevailing wisdom for cryptocurrency founders is that you win through hype: talk like an infomercial, parade clownish speakers around conferences, and attack critics relentlessly for “spreading FUD.” That approach works; many aggressive entrants have muscled their way to the top of the charts with these tactics (you know who you are). But there’s another approach that’s less talked about and just as widely employed, one that cryptocurrency founders and investors need to pay attention to: anti-hype. Ethereum recently fell from second place to third place in market cap. That was big news, but outlets are covering it wrong. The story isn’t that Ripple beat Ethereum, it’s that Ethereum is playing the anti-hype game. It would be trivial for Ethereum to flex its muscle and rally past Ripple, perhaps even past Bitcoin itself. They power almost every cryptocurrency in the world and their founder, Vitalik Buterin, is the closest thing to a blockchain figurehead. But instead of talking up Ethereum on TV or making blustery statements about how Ethereum will disrupt this or that, Buterin calls token sales overvalued, lambasts bad actors, and makes statements like these:Vitalik ButerinAll crypto communities, ethereum included, should heed these words of warning. Need to differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society.Then there’s Litecoin founder Charlie Lee, who recently announced that he was liquidating all of his Litecoin holdings. That action sent the price of Litecoin into freefall as speculators no longer wanted to bet on a founder who didn’t care about the price of his coin. They were right, Lee doesn’t care about the price of his coin, only the health of its technology. Another project is DragonChain, which I praised during its anti-hype token sale (flash forward: their token is now in the top-50). They employ a unique feature designed to discourage speculation: slumber score. The longer you hold it, the more power you gain in their ecosystem. That’s a brilliant mechanism that discourages quick flips. More blockchain startups should incentivize holding. Perhaps my favorite example of anti-hype is ChainLink, which was dragged kicking and screaming to a $300 million market cap. They have among the most devoted fans in all of cryptocurrency (called “Marines”), a revered founder in Sergey Nazarov, and substantive tech that solves an important platform problem. Yet look at their wasteland of a Twitter account. Or read any of their (rare) interviews, which equivocate and qualify with nary a scent of showmanship. In an age where the hype companies throw a parade over the smallest (questionable) partnerships, ChainLink barely touts its work with freaking SWIFT. Why should founders take the anti-hype route? Well, for one, you can still grow very big in the short term, but you’ll also better weather crashes long-term. When a crash does come (I’m looking at you, Tether), the projects left standing will be the ones with the highest percentage of true believers and the lowest percentage of fly-by-night speculators. Another reason to take the anti-hype route is that, while new investors are taken in by hype, the seasoned investors are growing weary. At a recent developer meetup, the flashy blockchain presentations elicited eye rolls and the dull, geeky ones got swarmed. That’s the way the trend line is moving. For investors, it makes sense to balance hype coins against anti-hype coins. One strategy is to funnel hype gains into an anti-hype portfolio. Another is to forego hype coins altogether and buy the boring long. A good rule of thumb: If you think we’re in a bubble, look at the project’s fundamentals and ask yourself how much of its market cap is because of those fundamentals and how much is because that project is fanning the flames of speculation.
There will never be consensus. There will never be consensus. There will never be consensus. If history has taught us one thing it is that there will never be consensus. A group of people didn't want to pay taxes so they founded a WHOLE NEW COUNTRY! Then those same people years later could not agree on "labor laws." One group wanted to continue to enslave people, the other group wanted freedom for all people. That SPLIT that whole "new" country. Now just about every country is fragmented into dozens of groups. Meat eaters. Non meat eaters. Socialists vs Capitalists. And now there is a political group founded on the fact that they don't get enough pu**y. No...I'm not making this up. There will never be consensus. Bitcoin was supposed to be the thing that united us all. The world NEEDED an alternative to banks. And the creators of bitcoin succeeded in that. The blockchain was born. What an accomplishment. It is a technological marvel that can solve so many problems. The problem is, humans got in the way. Perhaps being there in the beginning and watching the bitcoin community grow made them BTC maximalists. In the beginning, there WAS only one coin. True bitcoin people did not pay litecoin, or namecoin any attention. (I did invest in peercoin though) I remember when litecoin was $4 and I bought ZERO of that coin because I didn't think it had a purpose. Today my opinion of litecoin is the same...but I'm not going to create a subreddit called allltcholderssuck I am a big enough person to allow someone to have their own opinion without it imposing on my beliefs. But with bitcoin - which is probably the first subreddit a new crypto wannabe would go to, this is not the case. If you've never been on bitcoin I can sum up every thread like this. ALL NON BTC COINS ARE TRASH. ALL PEOPLE WHO BELIEVE IN ANY OTHER COIN ARE STUPID. ROGER VER IS TRASH. ALL HAIL Bitcoin! Did I miss anything? (nope that sums it up right there). Any opinion, any new idea, any suggestion is met with a digital beating and a ban. Can we increase the block size? BAN. Is BTC harmful to the environment? BAN. Will BTC ever have smart contracts? BAN. At one point even Ethereum was a bad word. Why does this matter to you?? Because now, the community that built itself around inclusion and democracy, and the "we hate banks" motto has been fractured. And most of the hate is coming from bitcoin. Now we have people who were in Bitcoin when bitcoin was $300, that don't own any bitcoin! (like me) Not because we don't believe in bitcoin, but because we don't believe in the people behind bitcoin. And this ANTI-bitcoin attitude is growing. Every coin or token that comes out in hopes to improve the blockchain is a vote against bitcoin. They are saying "we don't believe BTC is enough" Rather than try to learn from these people, and improve the technology, bitcoin shuts itself off to the rest of the world, and continues to shout BITCOIN ONLY from inside their digital barricades. Make no mistake THIS is the reason the market is down. Network congestion, led to high fees, led to people selling, led to understanding more about the people behind bitcoin, led to a dislike of the bitcoin maximalist community, led to moving money to other projects. Its not charts. Its not whales. It is people saying "I want nothing to do with bitcoin." As long as bitcoin continues to spew this nonsense, it WILL be a drag on the entire community. New people (which is the life of any business) will come in - see the hatred - and take their money with them. Whales, will simply invest in other projects. Bitcoin will continue to fall, and unfortunately the entire crypto market will fall with it. As long as people have a Bitcoin first mentality the crypto market will fall. We have to move towards an inclusive crypto mentality. Any project that actually adds value to the community should be given the opportunity to stand on its own merits. And its not just bitcoin, other coins have also developed this (insert coin here) only mentality. This is not a zero sum game. Having various options is the definition of democracy. bitcoin mods are literally the hitlers of the crypto world. Spewing hatred, and totalitarianism will get you nowhere...eventually. It's time for bitcoin to die
Today is New Moon, time for an Moonpledge update! 601 shibes promised to fuel the Dogecoin rocket with almost $120,000 a year! [Sorry for long post!]
Dear shibes all over the world!
How are you all doing? I hope I can lift your spirit with a little Moonpledge update! If you look at coinmarketcap list and you see Dogecoin is somewhere on the 13th place at you might get the impression that Dogecoin is not doing well or getting behind on it'S way to the moon. Many shibes have the opinion that Dogecoin is not worth saving because the expansion/inflation of 10,000 Dogecoin every Minute. And of course the opinion is out there that Dogecoin was only created out of fun and should be treated as such. All true and not true! It depends on how you look at it. Let me explain!
The fun part
Yes Dogecoin was created out of fun! And that doesn't mean that Dogecoin is a joke! It does not mean that Dogeoin is not worth anything or will not be around for the years to come. If you think a little about it you will realize that the best things started with fun. In fact all life started with fun! It's no disadvantage that something started with fun! It's no shame that something started out of fun! No matter how others think about us! The important thing is that we do what we love and it feels great to play with Dogecoin!
The features of the Dogecoin network
It's 10 times faster than Bitcoin and the network is running flawless since more than two and a half years. The network fee is the lowest there is (1 DOGE) and you can buy a lot of stuff with Dogecoin. But the most fun is to tip and donate with Dogecoin and if you look at the statistics you can see that Dogetipbot and the Dogecoin network has more than 10k transactions every day. The best part of Dogecoin is still you: the shibes. Without you Dogecoin is just another Crypto Coin without soul. With you Dogecoin is fun, exiting and it puts a smile on your face. Every time I tell someone new about Crypto Coins I tell him/her to start with Dogecoin! because Doge is love, Doge is life! And the shibes are truly one the friendliest online communities ever ;-)
The endless reward of 10k DOGE per Minute is here to make shure that Dogecoin will be mined. Today 10k Doge is traded for about about $2.33 that. That means we would need about $3,397.65 today to beat the inflation today! That may sound a lot to you, but please keep in mind that DASH needs $17,802.25, Litecoin $55,058.98, Ethereum $390,234.46 and Bitcoin more than a Million USD to beat the expansion of new coins today. You see! No worry there! If we look at the expansion per year we can see that Bitcoin has the lowest expansion of 4.1496% per year, right after that is Dogecoin with 4.970% and than DASh 8.417%, Litecoin 11.104% and Etherum 13.970%. This will stay this way in the next few years and on the long run Dogecoins expansion will stay in the TOP 5, depending on what new coins the future brings.
How to invest in fun without getting burned!
We all invest time, work, effort, love and money in something every day! Some shibes like to play, others invest in their relationship, some help freinds achieve something or invest time in their career. Whe I fell in love with Dogecoin (believe it or not: it's the first online community I'm enganged in) I asked myself hwo could I give back to the community and support the great potential of Dogecoin. I wanted (and still want) to invest love, time, work and money without ruining my self if it fails. I would love to buy one day my ticket to the moon with Dogecoin ;-) I have some free time, I work every work with the computer and it's no Problem for me to invest one EUR every day. If my dream fails, it wont ruin me! So I started to talk with you shibes about this idea and after a few moons the Moonpledge idea took shape. It's quite briliant, because there is no central organization, no third party to trust, no control or pressure. It's just you and your promise! The fun of investing constantly small sums you can afford to loose makes you feel relaxed and it's most fun to see how your fun investment get's bigger day by day. This also works with other coins and by the way: If you had started to moonpledge Bitcoin on the day the bitcoin price was it's peak today you would have a profit of about 50%. The Moonplege is basically low risk and much fun to do!
The Moonpledge status
The Moonplege started on new moon 16th June 2015 just before Dogecoin reached 100 Billion! And today I am happy to announce that 601 Shibes made a promise to fuel the Dogecoin rocket with almost $ 110k a year! That's something, isn't it? Still have 90% to go to beat the expansion and lift Dogecoin to the moon! We can see that the yearly average price of the of Dogecoin is going up sine January 2016 after a two year downward trend and today the price is about 13% above the yearly average price. That's good news and we are heading up towards the moon!
Don't be shy and brag about your Moonpledge
Since you shibes are shy and don't post much about your Moonpledge let me to do the honor: My Moonpledge address is DBXu2kgc3xtvCUWFcxFE3r9hEYgmuaaCyD I started my Moonpledge on 2015-05-18 and moonpledged 2,853,525.04 Dogecoin so far! I Moonpledge every day for 1€, hold it for a moon year and give min. 15% donation. The Dogeprice on 2015-05-18 was about $1.14for 10k Doge. The Dogeprice today is $2.32 for 10k Doge. If I decided to quit and sell all my Doge at once, I would make profit of 21.99% (15% Donation included in the calculation) I invested about $543.07 so far and if I sold all today I would get about $662.46. I also do the 1 EUR = 1 DOGE Moonpledge very Moonday jsut for pre fun that I can later say: I was the first to do this ;-) I met great shibes and engaged in many activities, gave a lot of donations and tips and still do so.
I fully admit that I've been on the fence in recent weeks about what I think about cryptocurrency so I thought I'd write a post explaining my thinking and see what everyone thinks. Bull case for crypto I always pull up the trusty ole 3-month crypto market cap chart and it's clear that we've bounced from the lows of 280b (previous support) on Feb 6th and we're heading higher. The bounce to 458b was expected but we didn't drop yet to hit new lows so this isn't a dead cat bounce as we look to be trading sideways but with a higher trendline. If you look at the down trendline which began on January 7th at all time high - we've broken it. We're coming up again on 458b which would be the 4th time we've tried to break through it this month. If we do break it then going up another 10% shouldn't be a problem and we're on our way to a recovery. The recent Litecoin FOMO shown that any catalyst is good enough for a rally that spreads and lots of people are looking to go back to the old days of half a year ago. Bear case for crypto Although we rallied recently, one thing is clear: the bull market is temporarily finished. Anyone talking about any major crypto doubling or getting those 25% gains? Any major news that rockets the crypto and blasts various projects to the top 10? No. What about cryptocurrency transactions? They're still in the gutter and off by 50% or more for each major cryptocurrency. Big question for everyone: have the previous FUD articles gone away as far as actual danger to the cryptocurrency? Has South Korea implemented KYC laws for crypto? Have the various hacks and mass theft stopped on some exchanges? Is the Tether issue resolved? US government OK with crypto? The answer is no so from a fundamentals standpoint, we're in bad shape and that's a problem because when the music stops, fundamentals is what you can rely on to justify higher prices. Right now, I can't do it. Have cryptocurrencies fixed their problems? Is Bitcoin's backlog gone? High fees reduced? Has Ethereum decoupled from the ICO market? Has Litecoin increased its speed? No, the problems remain. Last major hurdle: any of these currencies actually acting like currencies or stocks? None of these major problems have been solved either. Specific cryptocurrencies
Bitcoin: Bitcoin will continue to be the market leader in the next few years and I think it'll be the "gold" standard of cryptocurrency for a while. Its TA shows a breakout to the upside even though the volume isn't there yet. Don't forget CBOE/CME futures expiration and the volatility involved with that.
Ethereum: I will always like Ethereum best considering it's been the leader in actual cryptocurrency transactions. It's fast, has very low fees compared to other leaders, and seems to be trying to be part of various crypto projects as opposed to just its own currency. Flip side: more crypto's are being seen as fraud and people focus on the major ones so the ICO market is drying out both from a new coin issue, to various bans, etc. Still, Ethereum is the best coin to follow from a fundamentals standpoint - since it has fundamentals. Ethereum hasn't broken out yet but it's heading there.
Litecoin: I like Litecoin over Bitcoin since Litecoin fixes some of Bitcoin's problems. Litecoin still has a few more positive news to issue this year which could be big. If you want to hold till the rest of the year, the current prices aren't bad though I always prefer to buy lower than major psychological barriers (i.e. < $200). I think you'll make money considering those news have yet to hit. The more recent FOMO is fiction - there is no fork - but it carried us higher. This is dangerous since people are gambling on proven lies. Baffling and considering the rise has been 33%+, it bothers me in the near-term (i.e. next few days) where this could crash back down. This has happened with Bitcoin before during SegWit2x fiasco.
Just a quick recap of highest # transactions vs. price for all three compared to now:
% diff transactions
% diff price
To me, this relatively looks like Litecoin and Ethereum are overvalued while Bitcoin is undervalued. Summary To sum it up - I haven't the foggiest since I keep jumping between one side and the other. We've had BS runs for no reasons before but fundamentals were there. They're not there now and altcoins continue to beat Bitcoin from a relative price comparison. TL;DR I am on the fence.
If you did not have enough incentive to do fitness or jogging, finally it appeared! Remember instructors usually say: Move, move, and move again? ;-) Today MOVE is the name of the new token under my scrutiny. The Movement App team is based in California and comprises of five people former employees of Intel, Amazon, Microsoft, Uber, Facebook and other famous companies. They are developing an economic model and an application for the monetization of active lifestyles and sports. It would be based on the technology of blockchain and smart contracts. In support of its concept, the team provides the following data: There are 2.38 billion smartphone-users all over the world. Almost 2 billion people who make up 28% of the world population lead active lifestyle and exercise on a daily basis. It is very difficult to specify the exact percentage of people who use walking as the main form of transportation everyday but almost everybody uses the walk for beating short and medium distances. It can be foreseen that this number exceeds 80% of the world population. All of these people are potential customers of the Movement App. Let’s refer to the 27-pages WP of this promising project: “We are now creating a unique platform, which is developed to motivate user to lead active lifestyle, control health conditions and improve it while getting coins for it. Coins could be used to purchase sports-related goods from in-app Shop like sportswear, sport nutrition, online fitness & Yoga courses etc. and could be transferred into tradeable MOVE Tokens in one click. Users will be given an ability to use their own time and energy to make profit. Movement App would also become a place for a community with common interests in sports, active & healthy lifestyle and healthy nutrition”. So, everyone would be able to get coins for beating distance. It could be running, jogging or walking, outside or using treadmill. https://s19.postimg.org/j2518p72b/Obzor_8_Movement_Chart.png Another schtick of this app (not the onle one) which brings the spirit of competition to its users: “A fun way to earn MOVE tokens. The concept lies in simple sport betting vs another player. For instance, user challenge another person who runs 5 miles faster and bet some amount of MOVE tokens. The other person must match the bet for challenge to begin. Once the person accepts your bet, you both need to get ready, once you are ready you will hit the “START” button and begin competing. Our platform will ensure the transparency of the challenge by recording all the steps and GPS position. We will monitor both players at the same time and look for any abnormal behavior to prevent cheating…” Of course there are “Friends Referrals: User refers friends to the app and gets bonus in RUN coins + extra bonus for referred user”. Monetization of the Movement App is achieved by adding in-app sporting-goods Shop and context based advertisement. Coin holders will be able to purchase goods straight in the app with no need to conversion into fiat money. Some necessary explanations: The currency that will be used inside the Movement App is the RUN coin. It will give an opportunity to interact within the platform. RUN coin can be used to trade it into ERC-20 MOVE Tokens, that can be exchanged or sold on the crypto market. Notice: the MOVE tokens are not shares of the company, but a crypto currency to be used with the platform. The main investment from buying these tokens is to sell them in the future for more money and receive profit from the matgin. The team expects the price of MOVE token to pick up by 2019 to around 2 USD per coin and have a steady growth to 18 USD by 2022. As for the RUN coins are concerned they are to be used inside the platform only and are more akin to points than real money. Of course, they won’t be traded on crypto exchanges. Pre-ICO finished already. It’s a pity, but by the beginning of this January the team has collected 10 ETH only. Despite the poor performance in the pre-sale the founders of the project are optimistic about the future of their App: ”Our team advises everyone to remain calm and patient. We work hard to make this project happen… Despite these circumstances, we decided to continue working on the project and release the MVP (Movement App demo application) before the ICO start date. Some people were complaining about low activity in the Telegram and our other social networks accounts. Due to the low amount of Ether invested in the PRE-ICO we’re having a hard time expanding our team and keeping up with regular updates. The current financial situation forces us to work solely with the people we already have and pure enthusiasm. Do not be discouraged though, because our engineers are working on the alpha version of the project day and night. Creation of such a platform as Movement App is a lot of work, which involves creating original algorithms and approaches that are still areas of active research. Movement App team starts this new year full of optimism as we currently hold contact with more than 1000 potential investors all of which are waiting for the release of the demo version of the app to continue investing.” Movement App ICO Details Token: MOVE Price: 1ETH=600 MOVE but there will be bonuses during the first three weeks. Week 1: Bonus +20%. Week 2: Bonus +10%. Week 3: Bonus +5%. Buy with: ETH, BTC, LTC Platform: Ethereum Minimal transaction amount in Ethereum: 0.1ETH Minimal transaction amount in Bitcoin: None Minimal transaction amount in Litecoin: None Maximum transaction amount: Unlimited KYC: Yes Location: USA ICO Start: February 1, 2018 ICO End: March 1, 2018 If the sale ends without selling the full amount of 13’072’000 MOVE, after First & Second phases of the Token Sale, any remaining token will be burnt. https://s19.postimg.org/cbojz8wr7/Aristotle_Movement_Dickinson-junior.jpg “Life requires movement” (Aristotle, 4th century BC) In other words, movement is life. I believe MOVE will make our lives even sportier. In MOVE I trust! I hope the team will attract new investors and reach hard cap. Compiled by Dickinson-junior
Several weeks earlier I posted here with the coin shotgun strategy. Here is the strat.
split your entire crypto portfolio into a minimum of 30, but (better is 100+)
buy a small amount in a bunch of coins (preferably with low cap)
Set sells on ALL the coins with a higher amount.
Variations! 20-30% 50-60% 100%+ So after several weeks, here are my amounts 20-30% 1->2.26 btc 50-60% 1->1.52 btc 100%+ 1->1.17 btc Interesting thing, the 50-60% has much higher highs and lower lows, while the 20-30% has much more steady growth. I do not consider the 100% strat to be viable because a large number of coins outright fail. Only a few coins will make it to 100%+ status. Onwards on how to pick your sell targets. Look for old highs that are NOT near the beginning of the coin valuation. Set you sells for 75% to 80% of those highs. Also, look at fibonacci regression levels. Set your sells at the next highest regression level. How to pick your buy targets. Look for blood in the streets. Especially blood in the streets for no reason, or trivial reasons. If a massive sell off occurred in last week look at news and unless the ceo was indicted, and the company closed, or the developers forked a new coin, or some other thing that is of legit significance... buy it, buy it, buy it. Top 5 moneymakers for me in last 3 weeks: vertcoin aragon evergreen quantum resistant ledger IOP Current new buys in last week: Vertcoin monaco dogecoin (silly right? but look at that chart and tell me a lower valuation will happen and that a higher valuation can't happen) Blooooooooooooooood iiiiiiiiiiiin theeeeeese streeeeeeeeeets!!!! I have a sell target at 120% fyi lol. I am moving the rest of my funds from litecoin and bitcoin into coin shotgun. I have experienced significant ups and downs, but overall, I am trending up safer at higher than the rate that I would get by hodling bitcoin, and I am making money. Lots of junk coins have failed, and it takes patience and a bit of dedication, but its a definite way to beat your own fomo, and to endure seismic market shifts.
[uncensored-r/Bitcoin] Let us not forget the original reason we needed the NYA agreement in the first place. Centralizat...
The following post by Cryptolution is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7160gs The original post's content was as follows:
SegWit2x through the NYA agreement was a compromise with a group of Chinese mining pools who all march to the beat of the same drum. Antpool, ViaBTC, BTC.TOP, btc.com, CANOE, bitcoin.com are all financially linked or linked through correlated behavior. Antpool, ConnectBTC and btc.com being directly controlled by bitmain, and ViaBTC and Bitmain have a "shared investor relationship". If bitmain is against position A, then all those other pools have historically followed its footsteps. As Jimmy Song explains here the NYA compromise was because only a small minority of individuals with a disproportionate amount of hashrate were against Segwit (Bitmain and subsidiaries listed above), where the rest of the majority of signatories of NYA were pro-segwit. The purpose of the compromise was to prevent a chain split, which would cause damage to the ecosystem and a loss of confidence in bitcoin generally. At current time of calculation, according to blockchain.info hashrate charts, these pools account for 47.6% of the hashrate. What does it matter if these pools are running a shell game of different subsidiaries or CEO's if they all follow a single individual's orders? 47.6% is enough hashrate right now to preform a 51% attack on the network with mining luck factored in. This statistic alone should demonstrate the enormous threat that Bitmain has placed on the entire bitcoin ecosystem. It has compromised the decentralized model of mining through monopolizing ASIC manufacturing which has lead to a scenario in which bitcoins security model is threatened. But let us explore the reasoning behind these individuals actions by taking a look at history. First, Bitmain has consistently supported consensus breaking alternative clients by supporting bitcoin classic, supporting Bitcoin Unlimited and its horrifically broken "emergent consensus" algorithm, responding to BIP148 with a UAHF declaration, and then once realizing that BIP148/BIP91 would be successful at activating Segwit without splitting the network Bitmain abandoned its attempt at a "UAHF", and admitted that bitcoin cash is based on the UAHF on their blog post. The very notion of attempting to compromise with an entity to prevent a split that is supporting a split is illogical by nature and a pointless exercise. Let us not forget that Bitmain was so diametrically opposed to Segwit that it sabatoged Litecoins Segwit Activation period to prevent Segwit from activating on Litecoin. Do these actions sound like a rational actor who has the best interests of bitcoin at heart? Or does this sound like an authoritarian regime that wants to stifle information at any cost to prevent the public from seeing the benefits that SegWit provides? But the real question must still be asked. Why? Why would Bitmain who is so focused on increasing the blocksize to reduce fee pressure delay a protocol upgrade that both increases blocksize and reduces fee pressure? If miners are financially incentivized to behave in a way in which is economically favorable to bitcoin, then why would they purposefully sabatoge protocol improvements that will increase the long term success survival of bitcoin? There is plenty of evidence that suggests covert ASICBOOST, a mechanism in which a ASIC miner short cuts bitcoins proof of work process (grinding nonce, transaction ordering) and an innovation that Bitmain holds a patent for in China is the real reason Bitmain originally blocked SegWits activation. It was speculated by Bitcoin Core developer Gregory Maxwell that this covert asicboost technology could earn Bitmain 100 Million dollars a year. It is notable that Hardfork proposals that Bitmain has supported, such as Bitcoin Classic, Bitcoin Unlimited, Bitcoin ABC/Bcash and now SegWit2x all preserve Bitmains covert asicboost technology while Segwit the soft fork breaks asicboosts effectiveness. But if that is not enough of a demonstration of rational economic incentives to behave in such a way, then what about irrational reasons such a idelogical positions or pride? Its no secret that Chinese miners dislike for bitcoin core matured when the Hong Kong agreement was broken. Many miners have consistently rationlized "firing bitcoin core developers" and we even have a direct account from a bitpay employee that said Jihan directly told him that is his purpose is to "get rid of blockstream and core developers". And while the Hong Kong agreement being broken is quite the muddied waters, there is proof in the blockchain that chinese miners were the first to break the terms of the agreement by mining a block with a alternative client. Some bitcoin core developers continued to work on HardFork proposals despite this, offering up public proposals, BIPs and released code to attempt to satisfy the terms of the agreement. Yet only in hindsight did everyone realize that no individual or individuals can force the entire bitcoin network to upgrade. It is only through the slow methodical process of social consensus building that we can get such a large decentralized global network to agree to upgrade the protocol in a safe manner. Yet to this day we still have bitter idelogical wars over this HK agreement "being broken" despite how long ago, and how clear the situation is in hindsight. When you take into account the historical record of these individuals and businesses actions it clearly demonstrates a pattern of behavior that undermines the long term health of bitcoin. When you analyze their behavior from a rational economic viewpoint, you can clearly see that they are sabatoging the long term health of bitcoin to preserve short term profits. Considering this information, why would other bitcoin ecosystem businesses "compromise" with such a malicious actor? Let us not forget that these actors were the entire reason we needed to compromise in the first place went ahead and forked the bitcoin network already creating the first bitcoin-shared-history altcoin, Bitcoin ABC. So we compromised with people to prevent the spliting of bitcoin, so that they could go ahead and split bitcoin? What illogical insanity is this? Why would you "stick to your guns" on an agreement that was nullified the moment Bitmain and ViaBTC supported a hardfork outside of the S2X agreement? Doubly questionably is your support when the hardfork is highly contentious and guaranteed to cause a split, damage bitcoin, create chaos and damage global confidence. A lot of the signatories of the NYA agreement are payment processors and gateway businesses. Their financial health depends upon short term growth of bitcoin to increase business activity and shore up investors capital with revenue from that transactional growth. Their priorities are to ensure short term growth and to appease their investors. But their actions demonstrate a type of cause and effect that often occurs in markets across the world. By redistributing network resource costs to node operators they are simply shuffling costs to the public so that they can benefit in the short term without needing to allocate extra capital. But these actions do not benefit the health of bitcoin long term. Splitting the network, once again, does not increase confidence in the bitcoin network. It does not foster growth. Increasing the blocksize after segwit already increases the blocksize will not get us any closer to VISA transaction levels from a statistical viewpoint. Increasing the TPS from 3 to 7 when we need to get to 30,000 TPS is quite an illogical decision at face value. Increasing the blocksize on-chain to get to that level would dest...
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The FCC is expected to announce a vote to gut net neutrality rules the day before Thanksgiving. Only a big burst of phone calls to Congress can stop them from allowing ISPs to charge extra fees to access sites, apps, and send cryptocurrency. This is a direct threat to the growth of the cryptomarket. (1913 points, 368 comments)
The FCC is expected to announce a vote to gut net neutrality rules the day before Thanksgiving. Only a big burst of phone calls to Congress can stop them from allowing ISPs to charge extra fees to access sites, apps, and send cryptocurrency. This is a direct threat to the growth of the cryptomarket. by JPTIII (1913 points, 368 comments)
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