Cryptocurrencies – Bitcoin, Ethereum, PolkadotNo doubt you have been hearing more about Cryptocurrencies – Bitcoin and Ethereum at least.
You may have noticed Bitcoin and Ethereums huge gains and recent correction.
Bitcoin was at $5000, then during halving around $7k-$10k, and recently at $41k. And it had a 26% correction/consolidation, as it was going up to fast. Partly due to institutional investors and the public awareness. (See https://bitcointreasuries.org/ for a list of companies recently buying up bitcoin and moving their cash reserves). They seem to understand the bitcoin ‘store of value’ usage case. But they still do not understand or trust the Ethereum ecosystem, however Ethereum has been running since July 2015. [NOTE: There are scam projects so do your research].
Just to give people a place to start looking.. And this is by NO means a exhaustive list of good/solid projects.. just ones from the top of my head…
(Generally I avoid: xrp, bsh, bsv – which are good projects, do not bother with TRON or DOGE unless for fun or you have done the research. And feel free to talk to me about doing the research.. reading the whitepaper, checking the “tokenomics”.. total supply, circulating supply, percentage allocation and lockups.. Generally if the project takes 50% avoid them, if they are anonymous avoid them.. More conservative/solid projects lower risk are in the top 100 coins, large gainers are between a $1M and $10M marketcap, medium between $10M and $30M marketcap).
Any below I hold.. and I am fine with sharing what I hold and percentage.. (I have done some bad moves, but overall I am up signficantly over 7x in 6 months. and those are mostly holding not daytrading). And some of my losses have because I test features on the live blockchain network.. yield farming, staking, etc.. but I have not found yield farming profitible when doing small tests due to fees.
Best Cryptos currently for gains are a few small ones but significant gains on:
Bitcoin(BTC), Ethereum (ETH), ChainLink(LINK), Polkadot(DOT), chainX(PCX)
Parsiq(PRQ), Uniswap(UNI), API3 looks interest.
Matic, Cardano(ADA) and Loopring(LRC) also.
My Uniswap(UNI) tokens were all free to me.. from a airdrop since I used the platform previously(regulary also).
But you need to look for dips. And hold long [and know you will gain, but the lower than
the peak] unless you FOMO (Fear Of Missing Out) and buyin near the top.
I have NEVER lost money on bitcoin or Ethereum. (I have lost with small coins/tokens, but I invested small amounts I was willing to lose). And others 400+% in a few weeks. I do not have it mastered. However, if you do a little research, do not get greedy and balance between the solid projects [bitcoin, ethereum, polkadot]. A recent upcomer has been Cardano (ADA) and also Matic
If you want to see a good list of the coins and tokens [note coins are ones that have their own blockchain, tokens are the ones hosted on a blockchain], you can see those at:
http://coingecko.com/ or http://coinmarketcap.com/
Current markets coming after this bitcoin correction/consolidation we have currently are in the areas of:
– DeFi
* Derivatives – Synthetix(SNX) and others
* AAVE – loands and yield baring
* Insurance – Nexus Mutual (NXM), COVER, and others
* General yield farming – yearn.finance ecosystem/Sushi/YF-DAI
– Layer-2 solutions (basically to fix some issues with scaling on Ethereum until
Ethereum 2.0 is finished in a couple years). Phase 0 is already implemented.
* Matic
* LoopRing(LRC)
– Oracles – basically databases or pulling data/functions for projects
* ChainLink (LINK) – top oracle
* Band
smaller ones that may do well or be weeded out..
* API3
* Graph (GRT)
* DOS Networks(DOS)
* DIA
– Launchpads – places that launch new projects..
* DuckDuckDime(DDIM) – yeah I know the name is silly
* Polkastarter(POLS)
* TrustSwap(SWAP)
* Binance(BNB) and they have a launchpad also – big centeral exchange – US has to use binance.us [kicked off the main site]
– Alternate chains/ecosystems
* Polkadot is a ecosystem started by the other founder of Ethereum. And it is meant
to work with/interoperate with other chains. And there are many coins/projects
in Polkadot and Kusama chains.
* Cardano(ADA)
Stansberry had bad information on Crypto and bitcoin. It was wide open, but difficult to get originally due to the US SEC and it is still hard to get in good projects/offers due to US Gov restrictions. [so the US citizens are at a disadvantage or illegally access some exchanges]. Reecntly the US cracked down, and we can only use ‘US “blessed” exchanges’ to move US dollars on.
I am happy to discuss on anything, but especially science [genetics/medical], robotics, cryptos, blockchain, security or computing topics.
And even share my Crypto portfolio and my winners and losers. But I managed to get my 401k up in 6 months 214% [after I had to take it over and fidelity lost 20%]. And my crypto is up over 5x in the same time. It is likely IMO for bitcoin to $150k by Oct.. and I would start selling out at around $50k, $100k [expecting a correction and buy back in], sell at least half at $150 and let a portion ride and sell on the way down[if I catch it]. Ethereum best estimates are $20k again that is the feel. And Polkadot I was in at $3.00, and now about $8-$9, up to $100.
Again on the stockmarket a entry without ‘premiums’ for bitcoin would be MicroStrategy (MSTR).
This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.
You seem to have a ton of knowledge on this. I have generally been reluctant to put my money without proper understanding. Because I couldn’t understand your post fully tells me that I have a lot to learn before I can even think of putting my money. I have been trying to take a few courses on Udemy to learn about the fundamentals and key metrics to look for. Will you comfortable sharing the list of resources/readings that I need to do to ramp up my learning.
Yes I am more than happy to share resources or discussions. Right now we are not 100% sure if the price will go up or down.. We should know more in a few days. Ethereum is down still. Some good youtubers are: IvanOnTech [I just started in their academy to learn more], EllioTrades, DataDash [technical analysis], BitBoy Crypto, Coin Bureau
I am a bit of a libratarian [not formally] I just prefer low government interference, as it kills innovation, limits opportunities and treats citizens as incompitant and now personal responsibility.
I have been in Crypto since 2012… But not that active until June 2020. (The if only I did more does cross my mind. But focus on what we can do now and be happy for any gains). One of my friends recently was concerned with the 25% drop, but I reminded him he was still up by 3x in a few months and with parabolic rises there needs to be correction or it is finished rising and will really fall. I do expect when Bitcoin/Ethereum hit the new all time high it will crash back to probably 25k-30k, so take profits near the top (remove your initial investment at least, then you do not loose.. Buy on dips, sell on peaks. ).
You are wise to be cautious and do your research. It is best to understand what you invest in. Especially right now, as we are in a ‘Head and shoulders’ pattern. So we may have downside by another 20-30% before we start up again.
Here is a comment by a traditional stock market person:
Cathie Wood, ARK CEO/CIO: Talks a bit about advising people to hedge into bitcoin.
https://youtu.be/MzPzz24UN3c?t=1837
If you want specific areas of knowledge feel free to ask. I may start writing some scripts for a youtube channel also. What topics do you think would be useful?
– What is bitcoin?
– how it works, how is the chain secured..
– quick basics:
Block A — Block B — Block C — …. — Block ###
Each block references the previous one by a hash (cryptographic hash)
And it is really just a chain of Blocks..
Each block also has a list of transactions..
It is similar to a linked-list :
cryptographic encription – which helps stop modifications of the blocks on the chain
distributed ledger – duplicate copies on different nodes
distributed unrelated nodes – protect from one company, governement, entity from manipulating. (like recalculate the entire chain – which would be expensive also).
consensus among distributed nodes to confirm each block.
Transfer is validated by the nodes..
If you wish to contact me directly feel free at: markwdalton@gmail.com
And I am fine with sharing here.. I just do not want to ‘talk to much’ about it in this forum. Some people are very sensitive about the new economy coming.
Parts of the goals for Cryptocurrency (at least the original intention – obviously some are just about profit versus public good just like normal stock companies). But at least in Crypto there is less possibilities of monopolist practices, censorship.
Goals:
– Trustless transactions – no middleman, it is a algorithm that decides.
– No play preferences like in government and businesses. The contract is the same for all. (You do not need to be a ‘professional trader’ to get the normal price and the public has to pay a premium).
– It is on good projects all fair. (Look at the ‘tokenomics’ to eliminate unfair ones).
– Providing stable monitary system for countries with inflation/devaluation
– Providing banking for the ‘bankless’. The old notions of a physical address for banking are unhealthy in this day. And KYC also opens up more concerns of public safety. (Banks, Government, companies all have lost private records commonly every year).
– Transparency – everyone can publically see the transaction records, and confirm it was or was not sent and to which address. (which is another reason why KYC is dangerous).
Mark
I did not see ltc in the list. I agree with your observations on btc and eth. What exchanges have you used and which do you like best? I have looked at coinbase and crypto. I am new to this but would like to start investing in crypto. Thanks for your help.
LiteCoin(LTC) is another basically a copy of bitcoin. (Often considered the ‘silver’ to bitcoin being ‘gold’).
So it would be good also. But for me it follows bitcoin, but I own some LTC, BCH, XLM also. There are a lot of others I did not list that are very good also. (I have over 80 different cryptocurrencies some are to support projects, others are small speculations). REN, RSR, RAMP, UTK, UBT have been very good also.
I had many exchanges prior to the SEC crackdown, but I moved most off now, incase the SEC gets even further out of control. I mostly use: pro.coinbase.com and the coinbase wallet, I also have some metamask accounts – that I can connect to all the defi places like Uniswap [and those bypass centralized exchanges]. You can use Uniswap with the coinbase wallet app on the phone. I have HW storage also.
Central exchanges that are okay to use by US residents:
– pro.coinbase.com – regulated [so some safety from SEC] – others have complained about their
fees, customer support issues and locking up accounts.
– kraken.com – here you can get polkadot – regulated [so some safety from SEC]
– Generally I have heard very good support.
– crypto.com – I had issues with them working with my bank so I cannot use with my bank.
– They would not verify my bank since my bank would not do tiny charges (less then $7.00).
– Neither the bank or crypto.com was willing to change or make a exception
– They have the crypto Visa also.
– binance.us – (I was on binance)
– I have not used much with yet another KYC, and booted from the normal binance
– less services are available than the normal binance, but more than coinbase.
I can send you links for bonus’s on some or all of these. Or you can look around to get bonus on signup.
So I only use pro.coinbase.com to move money into the crypto space and hold coins I want to be
ready to exchange with limit orders.
– kraken.com – I use for Polkadot coins
* I originally had mine on hotbit.io – but I was concerned as it is not a US exchange
RSR – is popular in countries with issues with high inflation rates (RSV is the stable coin associated).
But feel free to contact me directly also. I am happy to share anything I understand, and research topics I do not know. markwdalton@gmail.com
If you have a code for procoinbase and kraken that wold be great. I sent you an email. What is your take on dot? I am thinking it will go up from here but my analysis is in the beginning stages.
I absolutely love Polkadot(DOT) it is a entire ecosystem. Kusama(KSM) is the other chain nearly identical to Polkadot [they work together]. Kusama is a production but more flexible area, so changes are more frequent, and more open to projects. Polkadot is more careful more ‘production’ style. But there are a lot of coins/tokens/projects and some promising ones have not released yet. Acala (ACA) is not available yet, BMI(Bridge Mutual) – Insurance – releases January 30th – on Uniswap, ChainX(PCX), Phala network (PHA), Sora(XOR), Frontier, Moonbeam, Darwinia(RING) are a few of the others. You can read up on the 2020 progress at: https://polkadot.network/polkadot-2020-roundup/ Others opinions are:
https://dailyhodl.com/2020/12/13/these-5-altcoins-are-poised-for-massive-rallies-in-q1-2021-says-popular-crypto-trader/
https://blaize.tech/article-type/top-startups-on-polkadot-that-will-rock-in-2021/
https://medium.com/polkadot-network/kusama-polkadot-comparing-the-cousins-170e4fe6c280
Just be aware, the project is not complete, there are risks. They did put up the testnet the end of December, 2020. Gaven Wood is the co-author of Ethereum so solid person involved. And the right prospective [not trying to take over, but to help interoperability between chains like Bitcoin, Ethereum and others to reduce fees and improve scaling .
Hi Zippyd, I started recently with my blockchain and crypto investments. Only about 3months into it now. I am wondering what your thoughts are on these investments that so far have been giving good returns. I am very interested in firms, banks and miners especially and your thoughts on that. For last 6 months I am in as follows: SI (Silvergate-) and the rest about 3 months…. Hive Technologies (miner of ehterium/ some bitcoin), MARA (miner Marathon Patent Tech). By luck I got out of my bitcoin crypto holdings just about 4 days before the recent big dip off highs and now I’d like to get back into crypto. I am a bit cautious so I thought maybe by opening an interest bearing account on a firm I read about called Blockify on yahoo—they use “Stable coin” tied to the USD). Kindly give me your thoughts and maybe also concentrate on a firm that you think is best in the Asian markets. Thx. JJ
I tend to hold through the dips.. During the halving I did the buy/sell/buy/sell and made about 0.5 Bitcoin [even after coinbase fees]. But it is more risky during a bull run. This was just a consolidation/correction, since we have had a huge run up. Right now the BTC price is up around $37k, I bought more at $33k. Ethereum is still a good deal at around $1k. I was in on alt-coins while the focus was on Bitcoin and the fees were low.
I do not do much with the stock/companies, except I did buy Microstrategy (MSTR) and Grayscales GBTC (up over 100%) and ETHE. But I can only do indirect bitcoin/Ethereum in my 401k. And for my cash I only invest in cryptocurrencies since the returns are much better.. for that I am currently up over 6x even after the correction in 7 months.
Ignore the Mainstream media and most ‘investor analysts’ they are bad enough in the stock market. But they are often completely naive in cryptocurrency. Cathie Wood and Michael Saylor seem to get why Bitcoin is good.
Cathie Wood, ARK CEO/CIO https://youtu.be/MzPzz24UN3c?t=1837
I almost did the sell of half my ETH and BTC at $40k, but choose to ride it out.
At $50k, $100k I will sell some, and if it goes down, buy back in. The conservative crypto analysts see bitcoin at $150k – $250k by October, then their are wild short term and very high in 3-5 years. Ethereum estimate is about $20k by October.
I will just follow the moves.
Stable coins you can get interest on them in MANY tools:
– Yearn.finance
– Celcius wallet – on your phone but I did not try that yet.
– Kraken – ETH, DOT, KSM, etc.
– Math-wallet
– Coinbase – the regular one has staking and learning modules to earn a little bit. But the bonus is you learn about the tokens.
– Akropolis allows you to stake on a node with less then 32 ETH, this is for Ethereum 2.0 but it is locked up for 2 years.
Then there is yield farming and providing for liquidity pools. If you have large money in the pairs, then it seems okay. Make sure you do this when ‘gas fees’ are low.
So mining I do not know as much of which companies do this.. But there is data out there. Pakistan Government is now do it to generate income in one state.
The miner machine production should do well also – BitmainTech
Riot Blockchain – purchase of an additional 2,040 next-generation Bitmain S19 (95 TH) Antminers from April to August, 2020 from BitmainTech
Riot Blockchain, Inc. (NASDAQ: RIOT)
Hive Blockchain (OTCMKTS: HVBTF), Hut 8 Mining (OTCMKTS: HUTMF), Marathon Patent Group (NASDAQ: MARA)
Here is some distribution information based on mining pools:
https://www.blockchain.com/charts/pools
https://cbeci.org/mining_map – you can see the majority is in China
https://en.bitcoin.it/wiki/Comparison_of_mining_pools
* This may help you find what you are looking for..
* Bitfury is a private company. Alibaba (BABA) also did a lot and cloud.
https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/White_Papers/ARKInvest_031220_Whitepaper_BitcoinMining.pdf
And one of the ARK funds may cover this for you also.
SBI Holdings Inc. and Japanese internet-service provider GMO Internet Inc. are apparently going to start mining..
https://www.bloomberg.com/news/articles/2020-01-07/world-s-largest-bitcoin-mine-said-to-land-sbi-gmo-as-customers
Your analysis is very well thought out, and certainly your bitcoin targets are within the ranges I have seen. Many analysts predicted a B