Just so you don’t have to do the math, if you had $Ten,000 ter buy orders of ETH at Ten cents each and they were packed at that rate, you’d have $33 MILLION now merienda ETH bounced back up to its current trading price of Visa is now looking for a Developer experienced ter BlockChain tech… and chooses someone who “has worked with the Ripple, R3, Ethereum and/or Bitcoin blockchain, and has practice with Solidity,” If you go back to about 1950 and told people….
VITALIK BUTERIN IS DEAD! jk
4chan posted that Vitalik Buterin died ter a car accident and it caused the price of ETH to crash today since people were dumb enough to scare sell so much that it jammed up Coinbase and they had to shut down for a while. I’ll analyze this more tomorrow-short on time today, but this wasgoed a truly interesting one.
Coinbase/GDAX’s Response to Eth Flash Crash
The “right” stir for Coinbase/GDAX to make would have bot to just let everything be and not reimburse the people who suffered big losses with their zekering losses and margin trading, but that would hamper the brief term growth of cryptos. The decision makers at the company were very likely aware of this and have determined to instead to credit the affected accounts. This takes it the downright opposite direction and will most likely give the entire crypto market a boost merienda they embark rolling out the credits. It will especially help BTC/ETH/LTC, the only Three available cryptos on Coinbase. Keep te mind Coinbase is the largest exchange te the U.S. that permits consumers to purchase crypto with USD. Now all the people who were utterly frustrated by losing thousands or even hundreds of thousands have their faith restored te the exchange and will likely re-inject their credited funds back into crypto. Not only that, I would bet they’re going to tell their friends and family about what good service Coinbase provides and this will drive more buyers into the crypto world, thus accelerating adoption. I wasgoed told by a friend that the cost of this restoration process could be ter the 300-600 million range. That seems a bit high to mij, but wij’ll see spil it unfolds. Even if it does wind up costing that much, the profit it generates from positive terugkoppeling will be greater ter the long run, so I indeed like that Coinbase determined to do this. If just a portion of that amount finds its way back to BTC/ETH/LTC, then that should cause a gepast increase te value.
The Ethereum Alliance is also programma to release some news on June 30.
Eth Flash Crash and Visa
I may have forgotten to mention, but it’s never too late. If you commence getting into crypto, be very careful with zekering limit orders and margin trading.
A circulating theory is that it wasgoed a coordinated effort. Evidently, the orders that were placed spil low spil Ten cents were placed only a few days ago. I didn’t even think about that when I wasgoed watching this unfold and just thought ter my head, wow, some people who left behind to take out their zekering limit orders at a few dollars just got truly fortunate.
But if the possessor of the wallet that dumped the major sell order (possibly this wallet: ) knew that doing this would trigger a bunch of limit orders on margin, etc,. then they could have had a bunch of friends place buy orders spil low spil Ten cents to catch all the margin sells that snowballed.
This is an evilly genius project if that wasgoed what happened. I am now going to go place low limit buy orders on all the exchanges ter case someone attempts to do this again….lol….
If that wasgoed indeed the wallet affixed to this entire thing, the history on that wallet is finta interesting, right? They got 39,400 units of ether Two years ago, very likely from the ICO? Sat on it until now, then sent out what looks like 1 test ether….then Five test ethers…then WHAM 39,300 units (assuming to GDAX). At an avg of $300 a unit, that’s almost $12 mil. So they not only cashed out on this $12 mil, they had a bunch of buy orders and most likely cashed out on millions more!
Just so you don’t have to do the math, if you had $Ten,000 ter buy orders of ETH at Ten cents each and they were packed at that rate, you’d have $33 MILLION now merienda ETH bounced back up to its current trading price of
Visa is now looking for a Developer experienced te BlockChain tech… and chooses someone who “has worked with the Ripple, R3, Ethereum and/or Bitcoin blockchain, and has practice with Solidity,”
If you go back to about 1950 and told people….
Hey, instead of metselspecie wij’re gonna begin using this lump of plastic and it’s gonna have a bunch of numbers on it, but those numbers will somehow kleuter of represent a promise to pay to merchants. Think of it like your checkbook, only better because you don’t have to write a check… And for the merchants…well…it’s not like getting metselspecie te your forearm RIGHT NOW, but…this company is gonna send you the money te a few days. It has lots of benefits. Trust mij.
This might have sounded insane. 50 years later…credit cards are everywhere.
Now ask yourself if Visa is hiring a Developer who is experienced ter the things listed, what MIGHT that mean for the future of payment systems? I think I see a pattern.
Status ICO Today Bitcoin Segwit
Two big things today and then an update on altcoins.
STATUS ICO wasgoed today. I mentioned it te my last postbode, hoping the exchanges have made progress ter boosting their server capacities, which I know some have, but still not enough to support the growth of request. So the same thing happened today that happened on the 12th-14th with the Bancor ICO, which caused major transaction delays for ETH. Ter fact, from what I gathered, a many people had a difficult time even buying some of the ICO because it wasgoed so difficult to get into. I read numerous reports of people losing parts of the Ether that they sent out (it’s a technicality on the mechanics of Ether) and they were very upset. Despite all this, Status wasgoed still able to raise $270 million te under THREE hours, which if you’re not común with the antiquated Venture Caudal system, is an insane amount of money to raise for a company which has essentially done nothing more than come up with a (possibly) good idea, solid whitepaper and some slick marketing. Te the natural VC cycle, something like this might be getting a few million dollars to begin spil long spil most of their ducks are te order, like the Dev team, etc. Then if they demonstrate progress, they’d be given more money. It’s very unlikely that a what is essentially a startup can just up and raise $270 million within the very first Trio hours of their fundraising. This is just a recipe for disaster.
Te other news, overheen 80% of BTC miners have confirmed (at least for now) that they project to implement Segwit, which caused a lotsbestemming of the money from BTC stakholders to shove their money back to BTC from ETH and LTC, raising the value of BTC at least a little bit. So it seems like the looming Aug 1 date is becoming less and less of a threat for BTC, but that’s still about 6 weeks away so I’ll just have to wait and see for further developments each day.
I had some friends ask what I thought about ICOs and for the most part, I don’t like them. It doesn’t mean I don’t want to participate te one, which I have (an ICO called DCorp), but with ICOs, the chances of hitting a huis run are like 1 te 50….1 te 100. I only bought about Trio ETH worth (
$1k) and truthfully I expect this to be a accomplish loss, but it’s worth the price of admission to be involved te the process to see how it works from beginning to end.
However, MOST ICOs are likely to be scams (intentional or not) outside of the top 10-15 if you look at http://www.coinmarketcap.com . Or if they’re not scams, they’re WAY overvalued because people who are te the know are pouring tons of money into the ICOs for the chance at a monstrous payoff. The problem is that they’re pouring too much money into the ICOs. So I do recommend you stay away from them unless you have some “special” information that no one else has. (Which you should share with mij, so I can see if I can gezond it into the big picture.)
Lastly, an update of my holdings…The majority are te Bitcoin, Ethereum, Litecoin, and Ripple.
Then I have a bunch of altcoins-about 10% of my total holdings te thesis:
Antshares, Augur, Bitshares, Dash, Decred, Digibite, Ethereum Classic, Golem, Lisk, Monero, NEM, Omni, Reddcoin, Siacoin, STEEM, Stellar, Stratis, Syscoin, Flaps, Wings, Zcash.
Recall, the idea te doing this is that I’m essentially creating my own Crypto Mutual Fund and only putting a little bit ter each one because they aren’t a part of the “main” cryptocurrencies, which mostly make up the trading pairs for all thesis altcoins. Most likely they’ll just be +/- very little % and contrapuerta each other out, but the idea is that hopefully one will become a huis run and terugwedstrijd 10x+ within a year or less if things go well.
My webpagina went down, just like the crypto exchanges!
I don’t know what happened because I don’t manage this webpagina, but it went down for a few days (coincidentally?) when it wasgoed moved it from the llamativo url. Many things to voorkant. I jotted down a loterijlot of notes this week and now I’ll begin turning them into something semi-coherent. Embarking with….
The two crypto bloodbaths on the 12th and especially the 14th.
Crypto is growing at such a swift rate that exchanges like Coinbase, Poloniex, etc. can’t keep up with the traffic. I had a welvoeglijk amount of inquiries by the evening of the 14th because of the major drops te price. While there are a ton of factors involved, the four that I found to be the least covered by writers are:
- The price wasgoed run up way too high inbetween the 9th and the 11th (from around $263 to $400!!)
- Exchange outages-people couldn’t loom te to make purchases
- Boundaries on buying. If you use Coinbase, I’m sure you’ll notice that their security is fairly taut and there are buying thresholds. This is a major knelpunt that might be overlooked.
- The NYSE runs for about 7.Five hours vanaf weekday, for a total of 37.Five hours a week. Crypto runs 24/7 all the time because it is NOT a stock. It runs 168 hours a week, which is Four.5x spil much spil the NYSE.
Let mij waterput all thesis together.
People who have bot using cryptocurrencies for years may have purchased (for example) Ethereum at $Ten vanaf unit. Some amount of thesis people are glad to sell merienda it klapper $100 vanaf. (Wouldn’t you be?) This goes after suit spil you trace the uptrend ter pricing. People who are glad to make a quick buck were glad to buy te at $300 and sell at $350. The time that it took Ethereum to go from $100 to $300 wasgoed less than a month. Then from $300 to $400 ter about Two days. If you tell someone who has bot investing te the traditional means (stocks, mututal funds) thesis comebacks are RIDICULOUS.
Many people who bought into cryptos (for the sake of plainness, I’ll just keep ETH pricing on Coinbase) set their zekering limit sells to $390, $380, $370 and so on. This is gegevens that can be seen on the exchanges.
Very few people have zekering limit buys that high. If ETH is hovering ter the 100 to 200 range, it’s not rational to waterput te an autobuy at $300.
The growth wasgoed so explosive that it brought ETH from
$139 on May 27 (another bloodbath) to $400 on June 12. Two weeks. How often are you going to see that ter the stock market? This wasgoed all fine and pedant spil long spil the servers were functional and the buy/sell sides had a sort of equilibrium of growth-slightly more buyers coming ter than sellers cashing out.
What actually happened wasgoed the buy side came ter way too strong and overcharged a lotsbestemming of the servers. People couldn’t buy. I can’t express enough how GOOD this is for the growth of crypto, at least for now. Just let that drown te. There were too many buyers. Good problem to have. So with the exchanges malfunctioning, all of thesis autosells were triggering spil the price plummeted from $400 all the way down to $273. Not ALL of the exchanges went down, so there wasgoed still some buying going on (I wasgoed able to make a few purchases during the druppel) but not enough to catch all of the sell act.
Add to that a segment of buyers who have no clue why cryptocurrencies and the block chain are so significant, but are te a madness to buy because they hear about their friends making so much money. Thesis buyers are more likely to fright sell (which is a flawlessly natural and common behavior) because indeed, they don’t know why they bought crypto te the very first place besides greed, which is also ideally habitual, right?
Waterput yourself te the footwear of someone who just threw down $5k on Ethereum at $380 or $390 and then witnessed it druppel within a day to $340… $330…$320…300..Scare SELL!
But merienda people were able to buy again, you can see how quickly (two days) ETH recovered back to its June 11th level around $350. If you think about this te terms of stock market time however, it would have taken 6 to 7 days of 7.Five hour periods of activity. And now it’s back to almost $400.
You’re going to keep observing this cycle of peaks and valleys until cryptos find their “steady” value. I don’t truly know what to call this because, unlike stocks, there’s nothing you can peg it to. It could be $1000….it could be $Ten,000…or $1 million… Refer back to the technological adoption picture I posted a while back. Wij won’t know what this value is until wij get there, but so far wij know it has a strong support level at toughly $273. And merienda the Status ICO launches on the 20th, could wij see ETH kasstuk $500? Just a month ago, I wasn’t indeed sure if ETH would klapper $300 before the end of June.
With a stock, you can at least gauge a company’s value based on assets, P/E ratio, operational cashflow, etc. Te the crypto world, the value is pretty much directly correlated to amount of transactions. Or speculation if you include ICOs. I think the entire value topic that’s the single most fascinating opzicht of cryptocurrencies to mij. I’ll attempt to voorkant the ter another postbode because that could be lengthy.
Of course, there also another 40 factors that contributed to all this volatility, but you can find more coverage of those points of view on google.
All this, and wij toevluchthaven’t even seen most of the Ethereum technology deployed yet. If the value of ETH is tied very closely to usage (transactional value) just think about the potential when more companies from the EEA actually begin USING Eth. https://entethalliance.org/members/
It’s not a coincidence that you can find big tech and finance players like Accenture, Credit Suisse, Deloitte, Intel, JP Morgan, Microsoft (. ), Samsung, and even Toyota (think self driving cars) on this list. Apply Mob Mentality and it’s not unrealistic to see Honda, Ford and the surplus other competitors of the already-members hop onto this bandwagon.
Now two of the largest obstacles come int he form of regulation and how the IRS (or whomever collects taxes te other countries) is going to hop te and get a lump.
It’s no longer a question of whether cryptocurrency is viable.
Ethereum wasgoed the gamechanger that truly shoved mij overboard into believing that Crypto would work. I had a realization about it last night that meant it is worth so much more than it’s even going for and that my guess at eyeing it kasstuk $1000 by the end of the year might now be conservative. Especially given that it just made a run and tested resistance at $330.
Left behind to mention…
I sort of klapper the ground running with this because I kept putting it off and left behind to mention that it’s indeed the block chain technology that drew mij to cryptocurrency.
The way I look at it is that many of the most valuable companies te the world today are tech and internet related companies, right? Think about the big Four: FB, Amazon, Netflix, Google.
None of thesis would have bot possible without the internet.
Merienda the block chain is widely adopted, wij’re going to see fresh kinds of companies and technologies emerge. Think self driving cars that will never kasstuk each other because they run on the block chain, not because they have radar avoidance systems. There’s going to be a meaty paradigm shift ter technological possibilities. Who knows what kleuter of companies will be at the top of the stock indices. Will there be stocks still? Spil te, will there be a day when wij don’t see anymore IPOs because everything can be done through cryptos and the block chain? ICOs are already kleuter of rendering the old VC and IPO cycles obsolete.
I’ll attempt to add a section soon with linksaf to articles that might be helpful. And have the layout of this webpagina immobile because I just attempted to access it spil a user and it’s terrible. Sorry about that.
I’ve bot doing truly well buying and selling Digibyte, which wasgoed on my flamante long term hold list. They’re supposed to present at some sort of competition for Citibank tomorrow. If things go well or they somehow win (unlikely) then maybe that’ll cause a acute rise te the price. I just picked up a bunch more and at 6 cents vanaf coin, it’s not like there’s that much slagroom to go down and I won’t mind holding it for a long term anyway since that wasgoed my llamativo project for DGB. Plus, they have some kleintje of liberate partnership with Minecraft where you can mine Digibyte spil long spil you’re on some special server of the spel. It may not mean much now, but it could develop into something zometeen.
So I found an Altcoin Two weeks ago called STEEM and I truly like it. It wasgoed listed te my orginal Disclaimer postbode spil one of my holdings. I don’t like it te the sense that I think it’s a fine product that advances society-because it very likely does the opposite. I like it because I see lots of profit to be made. It’s this amalgam of Facebook+Instagram+Youtube, but with more onmiddellijk monetization. (I guess?)
Here it is on coinmarketcap: http://coinmarketcap.com/currencies/steem/
The flagrante webpagina: https://steemit.com/
And the whitepaper: https://steem.io/SteemWhitePaper.pdf
Steemit combines almost everything I dislike about people into one product. Browse through and observe the level at which people whore themselves. Then eliminate yourself from your very first world biases and think about people te developing countries and how they will think this is one of the best things that everzwijn happened. It’s a giant ball of self-centeredness, the need for random validation from people you might have never even met, and especially, ESPECIALLY greed.
This is the very first webpagina I’ve come across since Instagram that I think has the potential to be be competitive with or even bought out by FB like it did Instagram. Or FB is going to find some way to copy Steemit, like it does from any other company that deploys any type of innovation not found on FB. You don’t need to read, but examples are:
If I had to arbitrarily throw a % on the possibility of FB (or another large social media company) buying/copying Steem, I’d say 5-10%. But that’s a lotsbestemming higher than can be said of the other million companies te existence, right?
Speaking of altcoins, that’s what most of my time is spent on now. Finding altcoins with spectacular payoffs. If you look at coinmarketcap’s graph of steemit, you’ll see how its risen.
I very first bought it at .00045714 BTC on Five/25 and it’s now hovering around .000833.
That’s a 2x terugwedstrijd te about Two weeks. On top of that, I wasgoed daytrading it during the peaks and valleys and wasgoed able to make like an toegevoegd .8 BTC profit on it (Maybe $2200?) while enlargening the number of coins that I originally bought te with.
I very don’t recommend daytrading this stuff unless you’re utterly experienced. there is a lotsbestemming of market manipulation with the currencies outside of Bitcoin and Ethereum. I only daytrade so I can give myself a crash course on the moving parts of what is driving this entire cryptocurrency revolution.
Minicrash, but not indeed.
Earlier today, there wasgoed a slight pullback on the overall crypto market cap, but it recovered within a day. But it wasn’t truly even a pullback. If you look at the chart and compare yesterday’s “dip” to the one that happened on May 27, you’ll see the difference inbetween a major correction and just a blip te growth. It didn’t indeed dip so much spil just proceed on mostly horizontally.
What this means is that the support for the overall market is SO strong that it’s demonstrating its resilience. (combined with a bunch of other integral macroeconomic factors)
If you look at the growth trajectory inbetween May Ten and May 24, you’ll see that it embarked to pick up too much speed from around May 16. This wasgoed because people were anticipating progress with Ethereum and the Block Chain at the Overeenstemming Conference on May 22. I wasgoed one of those people expecting a surge te pricing, which is why I wasgoed encouraging a few select people to purchase Bitcoin and Eth embarking around the 2nd week of May.
Merienda it picked up way too much speed and Bitcoin klapper $2800 vanaf, there wasgoed a acute correction inbetween May 27 and May 28. I’ll go into more detail about this straks if I everzwijn get around to making a movie. But look at how quickly it recovered back to its previous market cap of about 90 Bil. Within 1 week it went from 60 Bil to 90 Bil and then the growth just zuigeling of flatlined spil opposed to pulling down.
Sidenote…as early spil the beginning of this year, many projections had the entire market cap reaching 100 Bil MAYBE by the end of this year, but there wasgoed sentiment that it could be spil far spil 2020 before that happened. Wij’re not even halfway through this year and it’s already there. Refer to one of my earlier posts that had the picture showcasing Adoption of Technology ter the U.S. It took telephones and electric current DECADES to reach widespread adoption. Tegenstelling that to the Internet and Tablet. Now apply those same principles to cryptocurrency and if you throw it on that same chart, you’re going to see a line more erguido than anything else that came before it. Just watch…it’s already happening and proof is te how the overall market cap of crypto has kasstuk 100 Bil WAY WAY WAY before most rational projections. This doesn’t necessarily mean the volatility punt is going to vanish any time soon, but it does vertoning how widely and quickly crypto is being embraced.
So back to the horizontal movement of the market cap…In the stock market this is usually seen spil a flagpole forming, which signals upward movement. Examples:
But this could take days…weeks…months. Are there counter-examples? Yes. Is this always right? Of course not. Especially because cryptocurrency is NOTHING like the stock market. So if you look back at the overall market cap graph, do you see the similarity inbetween the past Two days and, say, May 9-May 15? But I’m not JUST going by how the lines look-that would be foolish. I’m also taking into consideration everything else that I know about technology, business, economics, spel theory and even where human civilization is headed to bolster my belief that even if there is no flagpole te the near future, widespread adoption of cryptocurrency is insalvable.
Naked ter mind, the market cap is still actually “only” 100 Bil. While that is a large number, it is nothing compared to the world’s money supply(More on this zometeen). What this means is that one minor event could derail the growth brief term, but te the long run, Bitcoin is not something that can be killed, sued, hacked, etc. and it will just keep growing until it’s just too expensive for widespread use and people will have to use the alternative cryptocurrencies. (Altcoins)
So let’s just wait and see. At this rhythm, it wouldn’t be unreasonable to see a $5k bitcoin and $500 Ethereum by the end of the year. (Spil long spil Bitcoin’s potential hard fork on August 1st doesn’t obliterate everything. Or soft fork. I’ll attempt to voorkant more on this te the next postbode if it’s still on my mind.)
If you look at my postbode from 6/6…I did say there would be a minicrash and recovery…I’d say that wasgoed pretty accurate, right?
I also said that during the delay, the fresh bitcion money will come to the altcoin side and that is exactly what’s happening today. My altcoin portfolio has risen about 5% just today alone and the day isn’t even overheen. It’s the altcoin market where there are TONS of profits to be made. More on this zometeen.
Thanks for keeping up with my scatter braininess.