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February 17, 2018

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Crypto Market Commentary

>$500 Bn Market Cap Again

Crypto Market Lifts Off Bottom 

 

After a deep plunge into the abyss with cryptocurrencies being left for dead just two weeks ago, the “disbelief” phase of the rally continues, right after most weak hands had tossed in the towel on their portfolios. The total Crypto market cap now stands at $513Bn, which is still a drop in the bucket compared to equity and bond markets worldwide. 

(Source: coinmarketcap.com) But something very important occurred over the past two weeks; as equity markets in the US corrected for the first time since August of 2015, crypto was quietly bought. Volume in general has been relatively light on this rally, as most retail investors are skeptical of this bounce and do not believe in it. Volume will pick up as the “smart money” is proven right and retail starts to chase it again. 

 

Another pervasive fear has been that the SEC and the US White House will come down on the side of the US Banks in its proxy war against crypto; that doesn’t look to be materializing any time soon, according to the White House cybersecurity coordinator. Look, disruptive technologies are blowing up companies that were only recently on the bleeding edge of their space. What makes you think that a government department/official will be prescient enough to understand the nuances behind crypto and what it might disrupt? The quote from the official in this article makes me believe that they don’t have a clue and will wait for someone else to make a judgment. I see this as market-positive for now. I believe that ultimately some form of regulation will be good for the crypto space because that tends to legitimize the activity, a sentiment echoed by the Winklevii of Gemini. The right, light touch of regulation will ultimately be good.

 

Mav is still down and out with the flu, so there will be no changes to the portfolio structure until he’s back to speed, which should be by Tuesday. He is working on building the next class, which will be structured around how he does the digging and research for how to find the right coins/currencies to buy. We hope to have that ready for you soon, and there are several additional classes to follow.

 

Please note that there will be NO PREMIUM NEWSLETTER sent on Monday, as it’s one of the eight days a year that we actually take off to coincide with bond/equity market holidays. .

New to Cryptocurrencies? Check out our archived class “Intro to Cryptocurrency Trading” which is available for immediate purchase/viewing in the Premium Member’s Home. View more about it and watch the class today by visiting this link.

 

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Offense – Adding Trades

Offensive Actions for the next trading day: 

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Defense – Managing Risk

Defensive Actions for the next trading day: 

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Current Portfolio

  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.

 Tier 3

NANO

Nano uses a technology called DAG ( Directed Acyclic Graph ) Nano offers us an alternative to bitcoin as it solves two of the big problems that BTC has Slow transactions High commissions Nano offers us the solution that being a currency that does NOT depend on MINERS, its ecological impact is less, since by not promoting mining the energy consumption is enormously low compared to the cryptocurrencies that use the miners for the creation of coins and the confirmation of transactions, and by not depending on miners for the confirmation of transactions, they are free of any commission.

Tier 4

OriginTrail

OriginTrail enables seamless data sharing along any supply chain. The decentralized, blockchain-supported network protocol ensures trust, transparency, and security. It helps companies exchange relevant data seamlessly and in a secure way to build accountability, protect their brands and increase efficiencies.

LociCoin

Currently the inventing process is convoluted, expensive, and stifles progress. In short, the process is broken forcing many inventors to go straight to market with their idea or never follow through. InnVenn is designed to reform the inventing process through simplifying the process and making it efficient, thereby increasing the possibility of new inventions, innovations, and inspiring the next big idea. Loci holds numerous patents to protect our IP, but our InnVenn product development has been guided by the main patent “System and method for fuzzy concept mapping, voting ontology crowd sourcing, and technology prediction.” The ideas covered in this patent have been researched and developed since 2008 and is the bedrock of what we are doing at Loci.

Po.et

How do you take an open, trustless and decentralized system that anyone can write to at basically no cost and determine what information is useful, trustworthy or accurate? What’s to stop someone from copying a famous work, timestamping it to Po.et and claiming it as their own? How do you filter the “good” from the “bad”? Facts from “fake news”? The answers to these questions, these problems, can be crowdsourced by aligning economic incentives of content creators, publishers and curators via competing token-curated marketplaces, using the Po.et token — POE.

None for today.

 Tier 3

REQ

SUB

LINK

Tier 4

XBY

BNTY

TAU

WISH

TRAC

PHR

How to read this portfolio: Ticker: Contains the ticker code for the coin. You can search this ticker in Coinmarketcap to learn more about the coin. The color denotes the risk tier by our evaluation. Dark Red = T1, Dark Green = T2, Dark Blue = T3, Light Blue = T4 (Colors in the Ticker column do not interact with the colors in the other columns) Cost Basis = Our average purchase price for this coin. Current price = The average price of the coin based on the exchanges it is listed on. Strategy = What we plan to do with this coin. Staking is receiving dividends for that coin. Master node is also staking, but with a higher return rate for having a (large) number of that coin. Stop = Our exit point, if it exists What do the colors mean? The colors in the ticker column represent the risk profile of that coin. The colors in the other columns reflect what sector(s) that coin belongs to. Some coins belong to multiple sectors, which is indicated by multiple colors. The colors correspond to our 7 categories in the graphic below

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.

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.

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.

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.

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 when mainent 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.

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 minimal stake in, are highly risky, and we are contributing no more than 2% of our portfolio to. These coins represent the outer fringe of our risk analysis, in that we have little information to work with, have little insight into the coin’s performance, and at the very best we are making an educated guess that they will be successful. If a coin performs well and proves that it has a commitment to its compelling feature, it will be moved to the Tier 3 status.  

Fundamental Currency Research

If Bitcoin is digital gold, then Litecoin is digital silver. This week it was announced that Litecoin Cash would be forking off of Litecoin as of February 19th. A fork is essentially a copy of the main blockchain, i.e., a fork in the road that results in two seperate cryptocurrencies. The aspect that is capturing the minds of some traders is that, when the hard fork occurs, every 1 Litecoin will result in you also having 1 Litecoin Cash. While “free money” is certainly appealing in concept, it’s clear to us that this coin, Litecoin Cash, is merely attempting to use the fame of Litecoin to make a quick buck. Charlie Lee, the founder and head of the Litecoin team, came out against this fork: “The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there!” This highlights that it is likely a bad idea to pursue this fork. If you already have a Litecoin position as we do, go ahead and collect whatever gains you can from this. But we will not be adding to our Litecoin position simply to acquire more Litecoin Cash. It’s very probable that once people are captured in the “snapshot” on February 19th that determines who gets how much of the forked currency, the market will dump their LTC positions. Then, like everyone else, the race is on to sell the Litecoin Cash as quickly as possible. Most hard forks are scams and amount to little more than a cash grab. For example, have you heard of Litecoin Plus, Litecoin Gold, or Litecoin Ultra? Probably not as they were what Litecoin Cash will likely be: An attempt to print money.

Here’s some points we follow if you’re new to cryptocurrency and haven’t seen a market like this one before:

  1. 95% of cryptocurrencies have no intrinsic value. The remaining 5% will be worth trillions.
  2. If you’re trying to chase a runaway position (i.e., pump), you’re trading with the herd and will likely lose money. Instead, look for trends in the market, sectors you can capitalize on.
  3. We diversify according two seperate principles: use case and market capitalization.
  4. Bitcoin is the biggest, slowest, and most obsolete currency, and will fall if it fails to adapt. Hedge your positions with competition.
  5. We don’t actively trade unless we spot opportunities. For most people, the buy and hold approach is sufficient.

Hopefully this begins to set you down the right track. As always, keep your expectations in check and plan ahead. Simply taking the time to research and plan will make you better than most of those trading this market.

  In this section we’ll feature a daily ICO or new coin we think you should check out. Based on your country, you may not be able to participate in the ICO, but you will be able to trade the coin once it is listed on an exchange following its ICO (usually only a couple of weeks). ICOs are where a lot of money in crypto is made. Here’s proof.   That said, we should warn you: ICOs are highly risky endeavours and you need to mitigate any potential losses. Treat it as money you’ve lost the moment you contribute to the ICO. We are not responsible for the ICO’s performance. Today’s featured ICO / New Coin is:

Faceter

For flipping Neutral.

For long-term holding Good. We like how unique this project is

What is it? 

Faceter is the first decentralized surveillance system for consumers. Faceter makes video surveillance smart, giving brains to cameras through enhanced face detection, object detection and real-time video analysis. These features allow cameras to understand the situation and respond to it, offering much better security to all the customers. At Faceter’s technological core is the absolute respect for privacy, and the utilization of the features of convolutional neural networks to split the tasks reinforces this commitment. As a result, sensitive data is always processed in a completely trusted environment, and all images not subject to recovery are passed to the decentralized network.

What is our verdict? 

What we like: A lot of the right features we want to see in a solution such as this.

What we don’t like: Lots of legal and logistical hurdles to overcome.

  • 42 days left
    Token
    FACE
    Price
    1000 FACE = 0.0872 ETH
    Bonus
    Available
    Platform
    Ethereum
    Accepting
    ETH, BTC, LTC, XRP, DASH, XEM, XMR, BCH
    Soft cap
    5,000,000 USD
    Hard cap
    40,000,000 USD
    Country
    South Africa
    Whitelist/KYC
    KYC & Whitelist

Website: https://faceter.io/

Whitepaper: https://tokensale.faceter.io/Faceter_Whitepaper_en.pdf

Technical Analysis Research

Up and away….is it too early to celebrate? The recent bounce off of the bottom has been a slow lift, not quite the torturous capitulation that I looked for earlier however a $14,000 drop from the highs certainly qualifies as “blood in the streets” when it comes to pain. I am still dubious about the fact that most charts just sort of….reversed….without a lot of fanfare. Kind of like when you’re walking down the street and suddenly turn around as you realize that you absent-mindedly forgot something. There still exists the possibility for a larger timeframe “higher low” which might put the final fork in the Bear for now.   In the near future, as soon as we get a couple of overdue classes out, I’ll start to focus more on short-term swing trades. I only like to do this on assets that are trending higher, so we’re close to being there.   We held an excellent class recently, Introduction to CryptoCurrency Trading. (Click here for more information and to sign up) This class is really targeted at the Crypto investor who wants to get moving but is somewhat uncertain about what they should do, and how to go about it. Another great candidate would be the recent investor who bought in at the top and is unsure of their actions. While you can’t attend the live class and the Q&A any more, the content is all there and we give you the slide download as well. If you go to buy the course at our online “store” you can receive $10 off the $59 street price with your member’s “coupon code” of member18crypto…or you can simply use the link above but that does not offer paypal.

  If we see the overall crypto market start to lift off again, then Alt-coins will normally float higher as well. I will work with Mav in the coming days to see if we can shed some dead weight from our portfolio and start to accumulate some new blood. That’s somewhat comical to say since most assets have only been in our portfolio for a number of months, which feels like several dog-years in the crypto space. Nothing new this weekend, folks. I believe that activity will pick up very soon so stay tuned.

        I am doing the majority of my Technical Analysis work on TradingView and Coinigy, and I have a BitFinex app on both my iPad and Android smartphone. All of these charting platforms call a TradingView API. TradingView is the 800 lb. gorilla in the Crypto charting space until the “established” players want to make a go at Crypto, like Ninjatrader, Tradestation, eSignal, Sierra charts, etc. My sense is that TradingView has such a head start that it will be very difficult for the big boys to make a dent in this space for a while. Until that point, TradingView has almost a monopoly in this space. If you have a particular tool that you think is superior, please let me know. You can access the BitFinex and TradingView platforms for free, however there are some paid features that you might want to consider depending on your needs, such as expanded watchlists, different study sets, account alerts, etc. 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.

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