Premium Daily Crypto Newsletter

March 28, 2018

Crypto Market Commentary

“All Hell Will Break Lose”

Bitcoin approaches “Death Cross”

Abra CEO Bill Barhydt believes that another rally is just around the corner. Mainstream financial analysts might be fixated on Bitcoin’s so-called “death cross”, but hedge fund guys see past that.

“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose,” he said. “Once the floodgates are opened, they’re opened.”

“There really is zero large-scale institutional money from the west in crypto right now,” Barhydt said. “That is happening in Japan. Once a large sizable chunk of Western institutional money starts to come in — watch out.”

“We’re getting closer and closer to real clarity in the West that it’s OK putting half a percent of your assets into crypto,” he added.

Of course, Barhydt’s glowing praise, optimism, and soundbyte-worthy quotes certainly paint a picture that we can agree with — but understand he’s trying to drive adoption of Abra’s non-custodial mobile wallet. Unfortunately, we can’t take too much stock in the words of someone who’s clearly invested a lot into this space. We’re much more interested in the nonpartisan and contrarian opinions, because they contrast the light with the necessary dark. We don’t accomplish anything by only considering what’s inside the vacuum chamber.  

I’ve been thinking about how crypto is still solidly in the Early Adopter phase of the adoption / innovation curve.

What’s become quite evident is that crypto is still lacking that “aha!” moment that defines it as a norm in our society, instead of a fad doomed to recede into obscurity. For example, just compare this article from 2007 entitled “Will MySpace ever lose its monopoly?” to this video from the same year where Steve Job unveiled the iPhone for the first time:

https://www.youtube.com/watch?v=MnrJzXM7a6o

Yes, social media and smartphones are very different and both are not as captivating today as they were in 2007, but they are certainly commonplace. I’d argue that the average person begins and ends their day with both, and I’d probably be right.

So why can’t the same be true about cryptocurrencies? Sure, if a person is waking up or going to sleep thinking about money, they either recently came into a lot of it or don’t have enough. Needless to say, the average person does not think about money in the same way they think about social media or smartphones. But why can’t they? Saying that money is boring is simply using the argument you could levy against the old system and lumping cryptocurrencies in with it. If you’ve been paying attention to the explosion of different cryptocurrencies out there, it’s clear that they’ve transcended the simple norms we’re used to with regular fiat currency.

The evolution of different projects using blockchain is like hundreds of snowballs rolling down a hill. As time passes, the majority of projects are likely to fall apart, but some will grow and become powerful enough to impact the world. When that time comes, the masses will take notice and there will be no going back.

Talk to you tommorrow.

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Offense – Adding Trades

Offensive Actions for the next trading day: 

  • None.

Defense – Managing Risk

Defensive Actions for the next trading day: 

  • None.

Current Portfolio

 

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.

 

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

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.

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 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.  

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.

Fundamental Currency Research

The number of crypto jacking incidents rose by an astronomical 8,500 per cent in the final quarter of 2017, Symantec has revealed.

Cryptojacking, for those unaware, is using website visitor’s unused CPU power to mine cryptocurrencies. Most of the time, this is done without the visitor’s knowledge or consent.

Symantec’s security response team said:

“The barrier to entry for coin mining is pretty low – potentially only requiring a couple of lines of code to operate – and coin mining can allow criminals to fly under the radar in a way that is not possible with other types of cybercrime. Victims may not even realise a coin miner is slurping their computer’s power as the only impact may be a slowdown of their device that they could easily attribute to something else.”

Like every controversial issue, this one has two sides. On one end, you have websites that are doing this while the threat is mostly unknown (we promise we’re not one of them!), and then you have other sites using cryptojacking for less malicious intentions. Instead of posting ugly advertisements all over their sites, small ecommerce and blog websites could instead use cryptojacking to sustain themselves. Of course, this could raise legal questions.

We look at it similarly to how advertising is done on the web. Some advertisements are clever or blend well with the site they’re on, some are annoying or terribly designed, and some are pop-ups which are universally hated. With cryptojacking, some intentions are better than others, but postulating if it crosses a line is a question for another day, as it’s still too uncommon and so far isn’t hurting much.

As far as how to protect yourself from cryptojacking:

  • The most straightforward method to prevent coin mining is through installing browser extensions that block cryptojacking, such as No Coin.
  • Don’t fall for phishing – While this won’t prevent the script-injection attacks that oftentimes infect computers and mobile devices with cryptomining scripts, it will help to prevent attacks that leave code on your system via social engineering.
  • Keep web filtering tools updated – Make sure to maintain the most up-to-date versions of your web filtering tool possible. If you do happen to run across a page that is injecting cryptomining scripts, make sure that you report it immediately, and if you’re at a company or organization, make sure your co-workers are blocked from accessing it, too.
  • Maintain your browser extensions – Sometimes attackers are able to use malicious browser extensions, or else they poison legitimate ones, in order to infect you. Stay on top of your extensions, look for any that seem to appear from out of nowhere and always check for updates.

We’re building a WaltonChain ($WTC) CPU mining rig for the mainnet release this weekend. Walton will start as a CPU mined coin, and at some point in the future it will switch to being GPU-dominated. The team behind Walton controls both of these things, and it will be an interesting foray into masternode mining for us. We’ll do our best to document the journey.

Here’s our parts list for anyone curious:

https://pcpartpicker.com/user/Elira/saved/Zjv9WZ

 

 

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:

 

Naviaddress

For flipping Neutral.

For long-term holding Neutral.

What is it? 

Naviaddress aims to create a decentralised global unified address platform for real and virtual worlds. Using a patented technology Naviaddress developed a platform with a capability to assign a digital address to any location with geocoordinate precision: Same in any language, cross-cultural: digits only Addressing any object or place: hybrid postal address and geotag More than just an address: additional information (contacts, “last mile”, etc.), users’ content

 

What is our verdict? 

What we like: Excellent idea, very compelling message

What we don’t like: Needs better marketing and a simpler message

 

2 days left

 

Token
NVT
Price
1 NVT = 0.05 USD
Platform
Ethereum
Accepting
ETH, BTC, Fiat
Hard cap
20,000,000 USD
Country
Cayman Islands

Website: https://naviaddress.io/

Whitepaper: https://naviaddress.io/wp-content/uploads/2017/11/Naviaddress-Whitepaper-v1.0.pdf

Technical Analysis Research

Over the next few days I’ll be featuring different popular studies to use on your charts, and some possible different ways to “read between the lines” on them. I prefer to use studies to show the “grey space,” or signals that you can’t necessarily see through your eye alone. The rest of the time I’m just using price and trends to determine my outlook on a chart.

 

Tonight’s video features the “strategies” and “paper trading” functions of TradingView; these can be very powerful tools to use if you are either building a strategy from scratch, or learning to trade outright. Learn on someone else’s dime first, before you spend your own hard-earned capital.

 

I hope you can join me on Wednesday evening’s webinar, “More Profits in 2018; Ten Ways to Chart Like a Pro.” The signup link for the webinar is here. I will be introducing my new Technical Analysis course on Wednesday night’s webinar.

 

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..

With overall crypto markets in a dull corrective market, I’ll continue to focus more on the larger cap coins until they break loose, then it will be a better market for alt-coins. Moves are not sustaining right now.
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.

 

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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