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April 19, 2018Watch this video to see how to use this newsletter. Click the square in the lower right to expand the view.
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Markets Pass 360 Billion
Bitcoin Losing Ground Against Altcoins
The market’s progress is seemingly without brakes it climbed nearly 20 Billion today, marking one week of positive movement for crypto. It’s still not much in the grand scheme of things, but this could represent the shifting tide should we continue on this path.
What’s got us interested is that once again we’re seeing the rise of altcoins against Bitcoin.
Looking at the Bitcoin dominance chart, it has slid 3% in the last 7 days. That might not sound like much, but this is the first time we’ve seen Bitcoin under 40% dominance since February.
Expanding our view to see the progress of this year so far, we can clearly see that the overall trend for Bitcoin’s dominance is intact.
While we still have a ways to go if we are to see the low 30% dominance values for Bitcoin we encountered in January, it could indicate that Bitcoin’s position as #1 is once again under pressure. We’ve never seen Bitcoin lose it’s place at the top, and there is a growing chorus of those who believe we need to see that happen in order to move forwards as a space.
We’re on the fence regarding whether or not it’s the right time for that to happen. On on hand it certainly does represent the sign of the times that a more advanced cryptocurrency like Ethereum could take its place. On the other hand, we’re not entirely sure if Ethereum is ready to handle that position as Bitcoin has served as a scapegoat for many of the criticisms laid upon cryptocurrency as a whole. Not to mention, most people are not even aware of any cryptocurrency beyond Bitcoin, if they’re aware of cryptocurrency at all.
We see Bitcoin’s fall as inevitable, it’s just a question of when and what the implications to the greater market will be when it happens.
One reason we see that as the case is that Bitcoin’s chief responsibility right now, outside of being the face of crypto, is to serve as the trading pair for the majority of cryptocurrencies. If you’ve ever traded altcoins you’ll know that sometimes the only way to acquire them is to trade with Bitcoin. Your fiat currency does not have a place on a platform like Binance.
Until now.
We previously reported that Binance would be seeking fiat-to-crypto pairs in an effort to become more relevant and take market share away from companies like Coinbase.
Now that it’s moved to Malta, that could become a reality as the nation’s banks are about to close a deal that would allow the cryptocurrency exchange to accept fiat deposits and withdrawals. Chief Executive Officer Zhao Changpeng told Bloomberg that Binance is about to create a “fiat-to-crypto exchange,” saying, “We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech.”
Adding to the confirmation, Joseph Muscat, Prime Minister of Malta, said, “[Virtual currencies] will form the base of a new economy in the future.”
Bitcoin has long been the the glue that held the cryptocurrency markets together. But as we’ve seen over the past few months, having such a reliance on the unstable currency creates market volatility in line with the moves of Bitcoin. No matter what the currency you’re holding is doing, it will be affected in price by the price of Bitcoin, and for a growing number of people that cannot be allowed to continue.
So, Binance’s move to Malta and the subsequent fiat-to-crypto pairs we should soon see is an exciting, albeit nerve wracking time in crypto. Moving the overall market to a reliance on more stable currencies will certainly help to curve the extremely volatile nature of the market which in turn will help to attract institutional and mainstream investment, but at the same time that volatile nature has been what has given crypto such a reputation for making millionaires seemingly overnight. Unfortunately, it doesn’t seem like you can have one without the other.
Binance’s move to Malta has seemingly attracted other cryptocurrency project to join them. OkEx, another cryptocurrency exchange once based in Hong-Kong as Binance was, recently announced they would move to Malta. Neufund, a Berlin-based lending platform, also announced today that it would be seeking to move the Mediterranean island.
“Looking at Malta’s vision and progress in creating a complete blockchain ecosystem, we have decided to engage our know-how and offer support in building the blockchain future of this progressive thinking EU member state,” says Zoe Adamovicz, CEO and co-founder of Neufund. “Together with Malta’s Government, we want to kick-start the creation of crypto-friendly laws with Malta’s DLT [Distributed Ledger Technology] framework initiative already serving as a great foundation.”
Last for today, ICOs, or Initial Coin Offerings, have slowed down in 2018 seemingly in response to tighter regulations and the market conditions. That being said, the amount of money raised with them has not. So far in 2018, ICOs have raised more money than all of 2017 combined.
That’s an astounding amount of money and projects that have proliferated the landscape in such a small amount of time. The biggest by far has been the Telegram ICO, which alone has raised 1.7 Billion dollars.
Even excluding Telegram, however, ICOs in the first quarter raised $4.6 billion, or 85 percent of the 2017 total.
While we’re unsure if the ICO model is sustainable given the shifting regulatory unease surrounding them, it cannot be argued that ICOs represent a very lucrative opportunity for those able to capitalize on them.
Talk to you tomorrow.
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Offensive Actions for the next trading day:
- None.
- None.
Desired Holdings
How to read this portfolio: Please click on the Chart Key tab above for definitions and color codes. The colors correspond to our 7 categories in the graphic below.
None.
Tier 2
MOD
Tier 3
REQ
SUB
LINK
NANO
KNC
Tier 4
BNTY
TAU
WISH
PHR
LOCI
XBY
ELA
ECC
POE
HPB
BIX
EVE
XVG
NULS
DNA
ReadySetCrypto’s 7 Categories Of CryptoCurrency
Tier 1 coins are those coins which we have considerable assets invested, are firm believers in the project direction and execution, and have very little reason to sell within short to mid term. These are coins which we risk evaluated to be very solid, and have a high probability of existence duration.
NEO
NEO ($NEO) is classified as a Dividend and Platform coin. As our largest holding, we believe NEO has the potential to become a dominant smart contract and DApp platform in 2018. It’s four most compelling features are:
- An innovative consensus algorithm which will allow for greater TPS (transactions per second) over its competitors.
- A dividend structure for holders, incentivizing coin retention and network stability / diversity.
- SE Asia location, enabling NEO to break into markets more easily than competitors.
- Agnostic smart contract language, allowing for smart contract developers to use existing mainstream programming languages, which allows for cheaper smart contract implementation as compared to Ethereum who’s proprietary smart contract language, Solidity, can be a barrier to integration.
NEO is best acquired through Binance. Storing NEO on the Binance exchange will result in a GAS distribution once a month on the first. We recommend the NEON wallet for safe storage. GAS will be distributed on the NEON wallet daily.
WaltonChain
WaltonChain ($WTC) is classified as a Dividend and Utility coin. Waltonchain is on the cutting edge of using RFID hardware to enable supply chain management 2.0. We believe Walton has the potential to become a dominant IoT blockchain solution Waltonchain is the only truly decentralized platform combining blockchain with the Internet of Things (IoT) via patent pending RFID (Radio Frequency Identification) technology. The custom RFID chips are able to digitally sign and verify transactions at the integrated circuit level, automatically and instantly reading and writing data to the chain without human intervention. This unique implementation of blockchain + IoT facilitates the true interconnection of all things in the real world with the virtual world, creating a genuine, trustworthy and traceable business ecosystem with complete data sharing and absolute information transparency. Walton has two major competitive advantages:
- A recently confirmed (to be signed) partnership with China Mobile’s IoT Alliance. China Mobile is the largest mobile telecommunications service in the world as well as the world’s largest mobile phone operator by total number of subscribers. Walton’s Management system is set to be implemented through mobile communication networks, and China Mobile is the largest one. Waltonchain is positioning themselves to be the single connector of the entire Internet of Things initiative put forward by the China Mobile IoT Alliance.
- They implement the blockchain through the RFIDs at the foundational layer. Their technology is patent-pending and gives Waltonchain a solid claim as the only blockchain that connects the physical world with the virtual world with truly reliable data. This is because all other IoT solutions tag items through API, and this means all the data is first passed through a centralized intermediate, a potential point of vulnerability.
Ethereum
Ethereum ($ETH) is an open blockchain Platform that lets anyone build and use decentralized applications that run on blockchain technology. Like Bitcoin, no one controls or owns Ethereum – it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, Ethereum was designed to be adaptable and flexible. It is easy to create new applications on the Ethereum platform, and with the Homestead release, it is now safe for anyone to use those applications.
OmiseGO
OmiseGO ($OMG) is classified as a Dividend and Utility coin. OmiseGO is a Southeast Asia-based company creating an e-wallet that will make transfer of assets and currencies possible. Merchants and users of the wallet can transfer whatever asset or currency they desire. For example, you could use your ethereum, bitcoin, international fiat, or even your airline points to buy groceries using the e-wallet app on your mobile phone. Transfers can happen across borders, or even while traveling abroad. Unlike Western Union or PayPal for example, the fees are almost negligible, and the transfer is instant. Because it’s based on a blockchain, there are no intermediary banks necessary and users don’t need bank accounts to access those funds. This is especially good for migrant workers who send money home and often don’t have bank accounts and are forced to use expensive wire services instead.
Tier 2 coins are those coins which have performed extremely well, we have a large amount of assets with, and we believe will continue to operate with high marks. What separates these coins from our Tier 1 status is a flaw or they haven’t yet proven their defining feature, though we believe they will.
NAVCoin
NAVcoin ($NAV) is a Privacy coin with upcoming Platform features. NAVcoin has been around for 3 years. It is not minable, instead being based on a Proof of Stake system in which stakers earn 5% annual returns. Theoretically this means there could be 5% inflation on the supply, however, that would require every coin holder to stake, so likely there will be very marginal inflation between 1 and 3% year over year. It is a currency originally based off of Bitcoin version 0.13, which should tell you it’s got a good foundation from which to build its feature set. Being based off Bitcoin, it currently is a method of transaction, with notable upgrades in the form of Segwit (with possible lightning network integration in the future) and 30 transaction times with extremely marginal fees. That’s great but a lot of coins have that going for them, so thankfully we’re just getting started with the real interesting pieces of NAV. The first and currently only implemented feature, NavTech is a unique dual blockchain technology. Essentially, NAV runs on these two blockchains in order to completely disconnect the sending wallet (your wallet), to the receiving wallet (where the money is getting sent). Think of it like a VPN, NavTech completely strips the sender’s details so the transaction is completely anonymous. The anonymous transaction space has really gotten big lately, with Monero’s recent price action and Ethereum’s implementation of ZKSnarks being two big examples that come to mind.Moving on to the roadmap, there are two big upcoming features for NAV:
- The first is Polymorph, which is a really cool blend of Nav’s anonymous transactions and Changeally’s instant exchange. What this means is that, for example, I wanted to pay someone in Bitcoin but I wanted to do it anonymously. Polymorph would take my bitcoin, turn it into navcoin in order to be processed and sent anonymously using the Navtech dual blockchain, then turned back into bitcoin at the to be sent to the receiving wallet. This will certainly set NAV apart, as it guarantees anonymous transaction for all of the coins on changeally. This is huge for exposure, and a great opportunity for NAVcoin to gain trust, which is absolutely critical anonymous transaction coins.
- The second big upcoming feature is ADApps, or Anonymized Decentralized Apps. This is also a huge potential win for Nav as there is already a huge amount of interest in the crypto space surrounding Dapps, such as Ethereum and Omni. Adding in the anonymous layer would attract projects that would value the anonymity. Nav is still in the planning stages for this project so it could still be awhile before it comes to fruition, but we should see the whitepaper for it soon, and if they could be first to market with ADapps that could prove to be a killer feature for them as it would give them first access to the interested demographics.
Ripple
Ripple ($XRP) is a real-time Payment protocol for anything of value. It’s a shared public database, with a built-in distributed currency exchange, that operates as the worlds first universal translator for money. Ripple is currency agnostic and has a foreign exchange component built right into the protocol. Ripple acts as a pathfinding algorithm to find the best route for a dollar to become a euro or airline miles to become Bitcoin. It will look at all the orders in the global order book. The case for XRP comes down to the following: 1) Payment systems work best with bridge assets to focus liquidity. 2) There are good reasons to expect a cryptocurrency to be the most popular bridge asset. 3) There are good reasons to expect that cryptocurrency to be XRP.
- Open, decentralized payments will have lots and lots of assets, including national currencies of all kinds and cryptos. A significant fraction of payments will be among assets that aren’t the most popular. Using intermediary assets to settle those payments concentrates liquidity and reduces spreads.
- National currencies are always tied to jurisdictions and can’t be universal. Systems built around them will never be as open and inclusive as systems that aren’t.
- XRP settles faster than any other major crypto. It higher transaction rates than other major cryptos. It is beat by others only by the amount of liquidity available today. And, most importantly, XRP has a company that is devoted to making sure XRP succeeds for this specific use case.
Tier 3 coins are those coins which we have moderate investments and we believe have a possibility of high performance in the future, but as of yet have not shown enough performance to reduce their risk profile. Tier 3 coins are coins which are moderately risky, but due to our risk analysis of the project and team we believe have minimal chance of failure. 
Tier 4 coins are coins which we have
ICON
Simply put, ICON ($ICX) is a massive scale blockchain Platform that allows
- Decentralized Application (DAPPS) – Build DAPPS on ICON Platform like on Ethereum and NEO. Yes, soon, you will see ICOs happening on ICON platform for different DAPPS
- Interchain (Interoperability with Blockchains) – Allows different blockchains connecting to one another through their protocol. ICON is fully compatible with traditional blockchains like Bitcoin and Ethereum and in future can bridge other public blockchains such as Qtum, NEO and many others to achieve their mission statement – “
Hyperconnect the world” - Artificial Intelligence (AI) – Use of AI to ensure all nodes contributing to ICON Republic/platform are rewarded fairly and not to have certain powers over distribution policies. AI will continue to learn a variety of variables to determine optimal distribution policies and achieve complete decentralization.
- Decentralized Exchange (DEX) – ICON will integrate different DEX protocols on their platform to facilitate
exchange of ICX and other future ICON platform currencies. Bancor protocol will be their first DEX protocol whenmainent launches this month end and Kyber and others will follow. Not just throwing Kyber’s name out there, it was confirmed they are working with each other, official partnership yet to be announced.
Invacio
For flipping Neutral.
For long-term holding Neutral.
What is it?
Invacio is working to resolve some of the world’s most complex and recalcitrant problems using our original distributed artificial intelligence systems, and the solutions we are reaching stand to revolutionize areas including big data, communications, research, online privacy, the exchange markets, and even counter-terrorism.
What is our verdict?
What we like: The goal of attacking large complex problems with AI multi-currency conversion is a huge one
What we don’t like: Navigating through various regulatory agencies of different countries will be a huge challenge
Website: https://invest.invacio.com/
Whitepaper: https://invest.invacio.com/layouts/landing-content-media/2018/01/Final-White-paper.pdf
If you go to buy any of our courses at our online “store” you can receive $10 off the $59 street price with your member’s “coupon code” of member18crypto..
Coinigy is a great tool for determining prices on each exchange, however I may not have access to the full suite of tools on TradingView charts. I am currently not using it as a front-end GUI for my exchanges, which it supports.I also use Blockfolio to give me a quick snapshot of my holdings, and find that it does an excellent job to aggregate all of my holdings into one easy-to-read snapshot of my cryptocurrencies, which are typically located in many different places.
I will also be experimenting with the Profit Trailer app which might be useful in this choppy market. I hope to share results and tips/tricks with you in here once I get this bot up and running.
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