The Top 3 Coins (How have they been?)

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When I refer to the top 3 coins I am categorizing them by market cap. You can go here and see exactly what I am talking about for those who need a little visual.

First and foremost sorry for the long-awaited article! For me to talk about something when nothing was happening is similar to TMZ always trying to make news out of trash. So after a little hibernation, it seems that something mild happened in the crpytocurrency market and now everybody is back on the train. A sea of green can be seen on coinmarketcap.com, and that in and of itself drives up the hype and ultimately whatever initial spark drove up the price – drives it up even more artificially.

A quick run through the top 3 coins…

Bitcoin (BTC) – $9,164.15

Now shot down by a spokesperson for Barclays, Barclays had catered to the idea of opening up a trading desk for cryptocurrency. Similar to Goldman Sachs, which had stated the same thing a couple of weeks ago, the idea of opening up such a trading desk would be considered too soon in my opinion. With Bitcoin being almost 10 years old and still considered in its early stages – we have a little ways to go until big banks begin to really take crypto serious. Although not too long! With a high demand for cryptocurrency in our daily lives, big institutions have to speed up integration of blockchain if they want to stay in touch with the new reality of life.

On a technical note, Bitcoin has seen a price increase of 34.03% since April 12th. With a circulating supply of 16,995,700 – Bitcoin is nearing its total supply of 21,000,000 which can only mean that the demand should exponentially increase. As the former statement seemed to be more of a blanket statement – it is important to know that once all 21,000,000 coins are mined that the price may or may not increase to the highs that we are all hoping for. Reason being? One thought is that who will continue to keep the miners running if there is no more incentive to waste all that energy? Of course that is just one thought, if anything the price could be so high that miners keep running just so they can trade BTC back and forth keeping the price artificially high.

Ethereum (ETH) – $667.43 

Going back to March, it was announced that Coinbase would begin to support (or soon support) ERC20 tokens on its exchange. Basically any coins such as Tron, EOS, and OmiseGo could possibly be bought and sold on the Coinbase platform. Good news for any token on the Ethereum blockchain, but you would think Coinbase would focus on trying to get specific coins on the platform (like Ripple for example) instead of throwing out a blanket of possible coins that will people trying to guess which coin is next. Overall, Ethereum has seen a rise of about 68.3% since April 9th which would put it a couple of days after the announcement from Coinbase.

Bad news is around the corner though as Gary Gensler, a former head of the Commodity Futures Trading Commission (CFTC), stated that he believes Ether and XRP have been issued through unregistered securities offerings and are trading illegally on the hundreds of cryptocurrency exchanges that list them.

Ripple (XRP) $.91

Ripple is the most promising coin out of the three listed in this article. With all the news out about what they plan to do and have done where can I really start? Let’s run through a quick checklist.

  1. Santander One Pay FX employs Ripple’s tool, xCurrent.
  2. Ripple’s Interledger protocol into Apple Pay
  3. MoneyGram, Western Union both have apps that integrate Ripple

Yes, all the points listed above don’t necessarily involve XRP itself, but with XRP of course being related to xCurrent and xVia people will continue to associate the three causing a false rise in price. But why? Why are people causing the price to rise knowing that all the good news coming out of Ripple is not really for XRP? That’s a hard question to answer, but what I can say is that it’s more of a “Ripple effect”… on a serious note – when one company uses xRapid it takes just one more after that to cause more big organizations to follow on and become the possibly new standard for money transfer.  A basic and overheard argument, but one that holds true because it’s most likely to occur!

 

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Mining Ethereum (The Move From PoS to PoW)

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When will happen to Ethereum?

In August of last year (2017), Vitalik Buterin, creator of Ethereum, released the implementation guide for the first version of Casper.

As a hybrid proof-of-stake (PoS)/proof-of-work (PoW) algorithm, Casper v1 is going to decrease (and eventually end) the profitability for Ethereum miners.

The release date is estimated to be sometime in 2018 as part of the Constantinople hard fork and there’s a lot to learn before this happens:

  • What is Casper?
  • What is the “difficulty time bomb”?
  • How does this affect miners?

What is Casper?

Casper is a PoS algorithm that’s projected to be released on the Ethereum network sometime in 2018. Beginning as a hybrid with the current PoW algorithm, the first version of Casper will only use a PoS consensus to validate every 100th block, called “checkpoints”.

Once a checkpoint is validated, there’s no way to go back and use a chain without it. Even if 99% of miners support a chain that doesn’t include a checkpoint block, all clients in the network will still continue to use the one with the checkpoints. This removes a lot of the power that miners currently have.

The Ethereum community hypothesizes that the switch to PoS will help with the scaling issues that the network is currently facing. The algorithm should enable new blocks to be created more quickly while allowing the network to scale more efficiently through sharding. Sharding is a horizontal partitioning of a large database into smaller and more easily managed parts.

Beyond that, PoS algorithms also use less energy to run the network, reduce centralization, and make 51% attacks more difficult.

What is the “difficulty time bomb”?

With the upcoming hard fork, there could potentially be three forks of Ethereum:

  1. Ethereum PoS
  2. Ethereum PoW
  3. Ethereum Classic

And, if you’re a miner, you may be thinking, “No big deal, I’ll just continue to mine and give support to the Ethereum PoW fork.”

Not so fast.

The Ethereum developers have stated that they’ll be releasing what they call the “difficulty time bomb” on the PoW chain shortly after Casper is implemented. To put it simply, the difficulty time bomb increases the mining difficulty exponentially until the chain becomes impossible to mine – an event called the “Ethereum Ice Age”.

Implementation of this strategy should prevent the creation of a third fork as support for the original PoW fork will just shift to the new PoS fork. The time bomb was originally planned to go off at the end of 2017 but has been pushed back by a year and a half. Right now, there’s not an exact estimate of when it’ll be released.

How does this affect miners?

If you’re a miner, you may want to start looking for more profitable coins to mine. Even though a complete shift to a PoS algorithm is still a year or two away, it’s clear that the Ethereum community is almost unanimous in this decision.

Remember that this is a case situation and no guarantee can be made on the outcome of your investment based on this knowledge. Article interpretted by Cole Horton, and written by Steven Buchko of Coin Central. 

Today in Crypto News (What is Happening?)

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It’s funny how back in December we all were so optimistic about what the new year would bring us. Evidently, the new year bought out a lot of doubt and anxiety for some people while some went on a multi-month shopping spree. This New Year Bear market was something that I personally saw coming from the moment I looked at a cryptomarket graph. The graph was nearly straight up for a moment and anybody in the finance world knew that a bubble was formed and it was going to take just one thing (sometimes a couple of things) for that bubble to burst. Although from a technical standpoint the market never did crash – instead it looks as though it had a hard correction. A crash would have been more intense and the line would have fallen more than it did as displayed on the graph below.

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Okay, maybe it was a crash but I feel as though a cat bounce right after the down fall wouldn’t have happened so quickly. For Bitcoin to rise to $20,000 in under a year is absurd, but to think that the cryptomarket is cooked is speaking too fast. Markets are to be looked at from an annual standpoint not month-to-month. You may have heard Ripple CEO Brad Garlinghouse say something similar when it came to looking at the digital asset XRP. We are to attempt to gauge the market on an annual basis in order to justify its existence rather than call a 20% decline in price a death warrant for the cryptocurrency market. Remeber Bitcoin itself was selling for a mere $1000 just a year ago and XRP was selling at $.007 around the same time – we are nowhere near the end if gains exceed the 1,000s for some of the big name coins out there. Jumping over to the stock market, your average investor is lucky to make 40% gain on their investment on a annual basis, while some lucky joe was buying XRP at $.007 in January 2017 and selling it for $3.80 in January of 2018.

Will the market go up? Maybe. Will the market go down? Probably not, but that’s not to say we have some work to do with cryptocurrency. We still get scared over the word “regulation” and “banned”. Well gives a damn? It’s apparent that to live in today’s society we definitely need some regulation to keep us in check because let’s face it – do you really want certain people out there running around using crpyto to evade taxes  or lying to the public and selling “shitcoins”? No way, but some will say, “you can do all that with paper money and that’s legal everywhere”. Of course, legal money has been established and has been in use for many years. Bitcoin? about 10 years. People and government need to get a better grip of it and throw in a tiny bit of regulation – tiny bit. We don’t need government limiting the full scope of blockchain, but we also don’t need the wrong people to be taking advantage of the newly formed technology. Will bad people still be using crpyto? Of course, but at the same time do you want more shitcoins in the market? No, so that’s why we need some regulation to help alleviate some of these issues that we are facing.

Investors bullish on bitcoin now that the ‘Tokyo Whale’ has stopped selling

Are whales even a factor anymore in the cryptocurrency world? Apparently so. As stated from the CNBC article linked above, “a trustee of defunct Tokyo bitcoin exchange Mt. Gox sold roughly $400 million worth of the digital currency to pay off creditors, according to documents published last week”. $400 million can move a market for sure, but what’s causing billions to be drained from the market? Market sentiment. People won’t keep money in things that they are not sure about and this is understandable because it happens all the time in the stock market. If the non-farm payroll numbers come out bad or all of the companies earnings are bad then people freak out and leave as soon as they can. When that happens this is where people like Warren Buffett like to shop, but only in companies he’s confident will turn around. The same can be said about crypto, but maybe for a lot less companies. Obviously not all the coins will survive, but the few that will survive will go on strong. It’s unfortunate that a lot of the coins do not serve a real purpose just yet.

My overall sentiment is that the regulation from the government needs to happen. It sucks and I disagree with it too, but things like taxes and fraud is something our loving government can’t possibly let happen without trying to stop it. Give it time, you might not see the days of 1,000% return in a week (you might actually since the market is still volatile), but you will definitely see returns that are justifiable for the work that these companies put in and help create real world application. Like I said in a couple of articles back, real world application is the key to the survival of these companies – no way in hell is a company with no durable competitive advantage going to thrive in a booming economy unless it’s mob owned or something to that nature.

Siacoin (The Long Term Hold)

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On a fundamental level, Sia takes cloud storage out of the hands of monolithic providers and puts it back into the hands of individuals.  This offers users a peer-to-peer storage ecosystem that allows anyone to rent out or take advantage of spare hard drive space.

All services on the network are paid in Siacoin, and all transactions in the Sia ecosystem are secured through filing contracts and storage proofs. You never have to worry about an attack on servers, because no outside company or third-party can access or control your files, unlike traditional cloud storage providers. Essentially, you’re flipping the script on iCloud, making it decentralized and in the end more affordable compared to the older systems.

This time I won’t put down a price prediction because when I do that,  I tend to get people who disagree and act like I was giving them the inside scoop. I’M NOT. I’m here to discuss what I think a company can do in the future to hopefully add value to your crypto-portfolio. Anyway, Siacoin is one of the many companies who’s biggest seller is the fact that it is a blockchain based company. Like with all the companies who try to sell blockchain as a save all answer to all the current problems, Sia aims to compete with Amazon, Google, Apple etc. This is good! The Sia company has goals that put it in line with actually being a competitive company and put value to the holders of Siacoin (or investors). Thinking of a similar company with the same goal of being a competitor, Ripple wants to be the forefront of money transferring (basically). Looking at Siacoin they have a clear objective of wanting to be your go-to for online storage and make sure your information is NEVER compromised. Sia distributes and stores redundant file segments on nodes across the globe, eliminating any single point of failure and ensuring uptime that rivals traditional cloud storage providers.

“We believe that neither individuals nor institutions should be beholden to large corporations. Sia was created to promote and safeguard users’ freedoms. It’s our attempt to bring decentralized storage built on blockchain technology to the mainstream without sacrificing price or performance.”

Sia’s platform consists of both providers (hosts) and clients (users).  Through the platform, users commission storage space from hosts, and the hosts are compensated for their services in Siacoin.  The ecosystem will provide flexible storage options and will be largely free-market driven.  Providers can set their own prices, advertise their level of reliability, and set standards for penalties should problems arise in storage or files be lost.  Additionally, they can choose to deny a client storage if they’re uncomfortable with the nature of that client’s data (e.g. sensitive, illegal, or ethically questionable materials).

sia cloudClients also have a series of protections in place to safeguard their own interests.  They have the option to split copies of their data between multiple providers to ensure file security and retrievability. For instance, if a provider were to lose a client’s file or simply refused to release it, the client could retrieve his/her files from another provider’s storage. Both parties can also agree upon contractual penalties that a provider will incur if s/he doesn’t provide proof of storage or withholds a client’s data. Clients have the option to reward providers with uptime incentives on top of the additional storage fees, as well.  With these payments, clients incentivize providers for being more attentive to their needs, including faster document uploads, enhanced upkeep to process requests, etc.

siasave

Looking at the picture above we can definitely see that the costs are EXTREMELY cheap compared to the top companies listed. At $2 for storage and $1 for bandwidth, how can you go wrong with trying this product out? No way in hell will your information ever be stolen, shared without your permission, or lost forever. That’s a quality product at a great price, and ignoring the price of the coin itself, you can definitely see the competitive advantage that Sia has in this industry – if only they were selling stock I feel like a lot of people would be lining up at the IPO trying to get a piece of the action.

If you now blockchain, and know it well you would know how the price of this coin could increase. First of all, it has a use case that people will one day see and begin to join the Sia network. The nodes are what keep the network running (in a decentralized manner of course) and for the nodes putting in computing power (and electricity costs) they get compensation in the form of Siacoin. Obvious right? But it seems that people forget the main fundamentals of how blockchain works. The miners out there keeping the network alive get paid in cryptocurrency and thus put more coins in the market, BUT the use of the coin in the process of buying storage keeps the prices stable and as more people join the Sia network (as a customer) they help keep the supply and demand balance well enough to drive up the price. That concept is supposed to work for all blockchain companies, but people like to get caught up in the hype and think that a certain coin is going to KILL the old system, instead of thinking of it as a company who has to compete and drive down prices to get customers.

Siacoin is a buy and hold coin in my opinion. At the price of $0.020240 and moving, it seems to be a cheap price for a company who aims to be your trusted online storage. All that needs to happen is time to pass and the team at Sia to keep pushing its goals and become a global competitor in digital storage. As more people jump into the network to help it grow, and more customers start to use the product provided, a price far above the current price is definitely possible! As for the price and when? I could not tell you obviously, but based on the road map provided by Siacoin – be on the look out for big moves to be made in the next two years!

Remember that this is a case situation and no guarantee can be made on the outcome of your investment based on this knowledge. Article written and interpretted by Cole Horton, and influenced by Colin Harper of Coin Central. 

Let’s Get Serious About Ripple (XRP)

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The elephant in the room. SLOW MONEY. Why is that the case in the wonderful year of 2018? We have advanced so far in technology that cars can drive themselves, you can walk into an Amazon Market without having to see a cashier, print houses on giant printers, but we just can’t seem to get sending money to somebody efficiently (and cheaply) just yet.

Here is xRapid (XRP).

XRP can be used by banks to source liquidity on demand in real-time, and by payment providers to expand reach into new markets, provide faster payment settlements, and lower foreign exchange costs. If you have the time to learn about Ripple, make sure you know the difference between the Ripple products. Just as a refresher Ripple provides three products: xCurrent, xVia, and xRapid. All of which help to ease the flow of payments around the system and this article is mainly focused on putting a proper price on XRP, which is the xRapid product. One thing that the Ripple does better than a lot of other digital asset companies is agree that the system in place isn’t going anywhere anytime soon, BUT instead of trying to dethrone the established ways, they instead want to work along side with the status quo and then eventually transition the system. That is what we all deep inside know will happen with these banks, middle men, and other financial service providers.

To get an idea of how much money moves around per day think about how much moves per year. Approximately $155 trillion dollars moves across borders every single year which is $424,657,534,246.57 per day! That is a lot money that has to go through banks, middle men and other financial services all of which are throwing in their little fees and taking their time moving the money to where it’s supposed to go. What a shame that in 2018 fees on the high-end of 2.9% are being added on top of payments being sent to people who already have to wait days to receive money. Let’s try to put a proper price on XRP with the numbers shown above.

Daily movement of money across borders: $424,657,534,246.57

Average RippleNet fees: .04%

How much Ripple charges per day $424,657,534,246.57 x .04% = $169,863,013.70 (This is just for reference in how much more cheaper Ripple is compared to other payment companies).

On an elementary level if $424,657,534,246.57 moves everyday and currently they are 39,094,802,192 that means each XRP token would have to be worth around $10.86. Now hold your horses with this number because you have to realize that 1. Ripple (the company) has more XRP in escrow that releases 1 billion more per month and any left over gets thrown back in the line and waits to be released and 2. XRP has a decay rate that destroys part of a token each transaction. So yes more XRP is on the way every month, but the decay rate will eventually catch up to the supply and cause the price to rise way above $10.86.

Ripple’s success is ultimately tied to the number of partners on RippleNet (which has been growing steadily over the past year), how many people use Ripple’s products, and how effective XRP is. To envision this token as being a success you need to ensure that it has a real world use and while other tokens or coins may seem to have a purpose, until you see progress now like Ripple is doing with its growing list of partners and members, you just have a bunch of hot air going around. Sort of like TRX back in December.

Want my final thoughts on this? I say it’s a keeper. No it’s not centralized, yes it’s cheaper than most other digital assets, and YES it does have a real world application. We as consumers will probably definitely see direct improvement in our lives from xRapid, xVia, and xCurrent (the three products offered by Ripple) because we want to move our money as fast as we can send an e-mail and as cheap as sending a letter (maybe a little bit cheaper than that). The use case is there for Ripple, now all they need to do is convince the old banking system to give up their current comforts in order to catch up with the ever-growing world of technology. We as a planet are evolving VERY fast and if our money can’t keep up with us, then you know we have a problem!

Remember that this is a case situation and no guarantee can be made on the outcome of your investment based on this knowledge. Article written and interpretted by Cole Horton, and influenced by Alex Moskov of Coin Central. 

 

 

 

 

 

The Current Market Situation II

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This has had to have been one of the fastest bubbles I had ever seen in my experience with financial markets. Let’s be honest. Who really thought that Bitcoin could go from around $900 to $19,000 in a year? Yes, you can say that this is new technology and that it’s not like a stock and all that. Although, what really puts a dollar figure on things we view to have value? Us. We as people give value to things and that value can be translated into a dollar amount (or any currency amount depending on where you live). The point is that people fixate cryptocurrency with how much it can rise against the dollar and then make them money. How many times have you heard someone (even the founder of NEO) that their coin can shoot to the moon? What does that mean? It means how much USD can this coin be worth so I can sell it at the peak and make away with the bag.

One of the only reasons for the creation of Bitcoin itself was to break away from the financial institutions and to provide an ecosystem for a decentralized way of life. Bitcoin itself has proved to be a store of value at this point. It paved the way for others to come into the market and improve on the flaws of its predecessor. This coin is digital gold and how often are you going to the store and paying for groceries with gold? Hopefully never. You store value in gold just as you now store value in Bitcoin. Bitcoin itself is inflation proof and with a mere 21 million to ever exist it’s easy to see why people can go out and say that its price can hit $1,000,000. This is extremely limited! You see, the fear and greed cycles can sway heavy especially when the supply is as limited as we see here.

That leads to the next point, the fact that Bitcoin did lead the way and other platforms have been created to improve upon the technology. The birth of the “Altcoin” occurred. Now people can base their software on that of Bitcoin’s and give the technology an even more specified task. For the very few examples that are actually worth talking about, you have something like Ethereum, which can revolutionize the way we conduct business interactions or any sort of interactions. But for a coin like Dogecoin to even be in the top 50 market cap is scary. This hype is fueled even greater by corny YouTuber’s who try to gain publicity for themselves and offer you give ways and “insight” when really it’s someone who has no business in cryptocurrency, let alone stocks! Imagine some teenager on YouTube sitting in a gaming chair talking to you about why you should invest in Apple Inc. Why even give the person your time then go out and buy the coin in question when he explains that he is not giving professional financial advice. First off, he’s right, he’s nowhere near a professional and should stare CLEAR of crypto investing in the first place.

Fear, Uncertainty, Doubt. We really need to stop telling ourselves that every time the market drops and someone in the crowd tries to be reasonable and thoughtful and give an opinion as to why the market is acting the way it is. This FUD is a necessary part of the cycle if you didn’t know already. The market is a game for fear and greed. When you buy a stock (or a coin) somebody else is on the other side selling you that stock (or coin). And during times like this where the market is dropping fast, you’re selling your coin to somebody who knows exactly what the potential value of that coin is. To the “newbies” out there, just remember that they’re people who know A LOT more than you do and by selling off your coins in herds, you’re giving the smart people an advantage to buy in at a cheaper price. Look at 2008-2009, all those people sold all those shares because the belief that the market was in limbo (which it was at the time), but to act like you’ve never seen a crash before shows the lack of experience in some of these people.

In the short-term fear and greed rule the markets, but in the long run, sound fundamentals rule the whole arena.

As with the fear from governments threatening to ban cryptocurrency and to regulate it, people forget that the latter means adoption. When governments start paying attention to cryptocurrency, you damn well know you’re doing something right. It may seem bad at first sight that government is trying to place regulation on crypto but, remember we live in a civilized world where the government will always have a say in what we do. This is not the caveman days, we have organization and hopefully “class”. If you want to go political, I can give you a good example. People are always complaining that the rich don’t pay their fair share – now think about this, if millions of people are buying and selling crypto all day 24/7 we’d have a lot of people not paying their fair share. Not that I agree with taxes on cryptocurrency, but you get the picture that I’m trying to paint with government wanting some oversight as to what is happening in the new markets.

Liquidity and exchanges. People are getting all upset and wanting to act like lead investigators when it comes to potential scams. The headlines in today’s markets: Bitfinex and Tether. First off let’s establish the use of an exchange, a place to which you buy and sell goods and services (or stocks, commodities, and currency etc.). The same rule applies with cryptocurrency, you are there to buy and sell cryptocurrency and hopefully put it away in cold storage (like you’re supposed to). Well, the basic idea for USDT was to have liquidity in the cryptocurrency market and help eliminate the fear protocol from these investors. Instead of having to sell your coins THEN convert them back to fiat (if you could ever figure it out in the first place) you could just sell your coins for USDT and still have the same amount of money in there like you did in the first place. The obvious problem with today’s crypto is that prices aren’t stable enough to consider them good short-term stores of value. Could you imagine being at a coffee shop and paying $5 worth of Bitcoin for a coffee then by the time the transaction clears they make you pay $2.50 more because the price of Bitcoin fell by 50%? This is ridiculous!

P.S a subpoena is not necessarily a bad thing. In fact, it is more or less like a confrontation of a business from law enforcement to see whether or not a rumor is true and give evidence backing why they are in the clear or not. Simplified, but don’t let news tell you something is as bad as they make it seem.

What do I think in general about this market crash (or correction)? Let it have its course on the young market and it’s new-found participants. Just remember, people who didn’t even care to invest in stocks, bonds, or precious metals are here for the first time throwing money into something they thought could get them rich in a hurry. No, that’s not how investing works my friends. In the end, the people who damn well knew about blockchain technology and its potential in the world stuck around, while the hungry soul looking for quick profits ended up flat on their backs when the herd left them in the dust. The people who are buying now, are buying from the people who are taking huge loses because of fear and greed. The people buying aren’t going anywhere and that’s what is going to keep this crpytocurrency market alive for the long-term.  Continue reading “The Current Market Situation II”

Real World Application (After the BIG Crash)

A Man Is Trying To Sell His Car.

Take any business class in college and you’ll notice one thing that stands out as a universal theme. Money, the glue that holds the market intact. With a business its main goal is to generate as much revenue as it can… but at the cost of providing some sort of real world benefit. Without a product or service at the end, what can a business really do you for or the real world? In order for these companies to survive they have to help YOU, the consumer in some sort of way. If a company has nothing behind it you have a Ponzi scheme (BitConnect) which is an evil form of business that we as a society aim to stay clear from. Think about it, you can fall in love with a concept all you want, but if it isn’t practical or has utility what are you really in love with? You’re probably in love with the possibility of it getting hyped up for NO reason and making you RICH. Don’t lie to yourself because we’ve all made that bet before on a coin or two or three. It’s okay to speculate, but when reality comes crashing down all you have left is well… nothing because the rug was pulled under you so fast that you had no idea what actually hit you.

The goal in this new market is to pick the few winners that we hope can survive the big crash and make it on to become big names someday in the near future. We’re not predicting the future instead we are looking at coins or tokens with the best possibility of finding real world utility. Once the market matures we can set our sights on finding the left over companies who can create the greatest return of value for its shareholders or coin-holders (this is the daily goal of investing in stock markets).

First, I will release the picks in the form of a list then describe them below in as basic of a concept as I can. Reason being is because you didn’t pay me to be your financial adviser and instead I’m leading you into the direction to make your own call and hopefully be comfortable with your own decision. NOTE: The list is in no particular order and is incompelete.

  1. Bitcoin
  2. Ethereum
  3. Ripple
  4. Factom
  5. Golem
  6. Siacoin
  7. Civic
  8. Neo
  9. Steem
  10. Decentraland
  11. Wax
  12. Syscoin
  13. OmiseGo
  14. Dash
  15. Storj
  16. Stellar

 

  1. Bitcoin (BTC) – This is the gold standard of all cryptocurrency. The first one to hit the streets and the biggest one we know of today. At this point in Bitcoin’s life it is mainly used as a great store of value. Supply and demand play a big role in its future value. At 21 million coins and a growing population of people with access to information it is not hard to see how 21 million coins (a very limited supply) can go quick. It seems that with the fees ever so growing and wait times getting longer that this coin can really only be used to store value long-term value.
  2. Ethereum (ETH) – I hate to have to go through the basic ones like this but the value is there. Ethereum is the king of contracts and tokens. Look at the list of tokens out there, it’s obvious that Ethereum holds the number one spot for the amount for tokens using their native blockchain. In the real world, this platform has the ability to change the way a long of companies operate. In and of itself, Ethereum will be mostly behind the scenes, but its use is evident.
  3. Ripple (XRP) – Say all you want about XRP. This coin, and the company are here to stay. First, we must realize the difference in the Ripple company. You have Ripple (the actual company), RippleNet (the juice behind the company and its native blockchain), and finally XRP (the native digital asset). We are focused currently on the digital asset in this article so let’s start by saying that it has potential. If you have someone institution that wants to send, let’s say $38,000,000,000 you’re going to need those coins to be worth more that $1 a piece to be able to even handle such a load.
  4. Factom (FCT) – The coin that is the Fort Knox of data storage. You want to make sure that you’re about to hire a clean person with no criminal record? Factom keeps track of EVERYTHING about anything so that nothing is secret about a person or organization. Yes, this can be scary, but people forget that the government doesn’t already do that. Actually, speaking of the government, back in 2016 Factom was awarded a contract by the Department of Homeland Security for $200,000 to develop a system of security of digital identity for Internet of Things (IoT) devices.
  5. Golem (GNT) – Need to borrow a super computer for some reason? Seek Golem. A supercomputer powered by multiple PCs to entire data centers. If one computer on the network fails, no worry for it is decentralized, and like most of the coins in the market, have no one weak point that can be penetrated and ruin the system. So you have full-time access to a supercomputer that is almost always guaranteed not to die out on you.
  6. Siacoin (SC) – The cloud storage of blockchain technology. Just as Google Drive holds any information you want on THEIR servers, Sia can hold anything you want on their native blockchain. How? through the combined usage of all the computers on the network. When you join the network you can sell excess storage on your computer to anybody else and get paid to do it. Your information is broke up into little pieces and encrypted then sent out in many pieces across the network to other computers.
  7. Civic (CVC) – Equifax needs to read this part of the article. Civic is designed to secure people’s personal information away from hackers. Knowing how blockchain technology works it’s easy to see how this company works. Instead of having one point of entry, hackers would need a very LARGE team to even think of penetrating the Civic platform (almost impossible). Many companies in the world that hold personal information can greatly benefit from this company.
  8. Neo (NEO) – the Ethereum of China as they say. This coin aims to compete with Ethereum in a lot of ways and maybe someday in the near future they may be competing head to head. Smart contracts, platforms and tokens are the basics you need to know about this coin. Just as Ethereum, you can build any kind of token you want and release to the public. We see this coin as a foreign competitor that can possibly thrive right next to the top coins in the market. A quick tip, you hold this coin in your NEO wallet, you get paid in GAS token which itself is a token that is slowly gaining value in the market.
  9. Steem (STEEM) – the platform that aims to be the leader in social media, blogging, and content creation alike. Similar to YouTube, Steem has DTube which aims to be a main competitor. Although they might need to really consider a name change, DTube is the decentralized YouTube that wants to take away bias in who gets monetized and who doesn’t. No more rules that hurt the content creators who are just trying to make a living and releasing good content. There’s a lot more, but that’s your job to look into.
  10. Decentraland (MANA) – Straight from the website on this token, “Decentraland is the first virtual platform owned by its users. Grab a VR headset or use your web browser and become completely immersed in a 3D, interactive world There are plenty of opportunities to explore or even create your own piece of the universe. Here, you can purchase land through the Ethereum blockchain, creating an immutable record of ownership. No one can limit what you build. With full control over your land, you can create unique experiences unlike anything in existence. Your imagination is the limit: go to a casino, watch live music, attend a workshop, shop with friends, start a business, test drive a car, visit an underwater resort, and much, much more—all within a 360-degree, virtual world”.
  11. Wax (WAX) – I’ve mentioned this coin many times on my blog (twice) and I feel like it has potential to actually rock the $50 billion market that it resides in. A token that is traded on the WAX platform that users receive or pay out whenever they want to exchange “digital clothing”. Just how we in the real world buy and sell clothes and receive USD, on the Worldwide Asset Exchange we can buy and sell virtual skins and receive the native token. A Mike Novogratz favorite and a personal favorite of mine as well. Not too much of a gamer, but when there’s an idea like this that is virtually NEW to the market, I don’t see this having a hard time penetrating the market once it gains the proper traction it needs.
  12. Syscoin (SYS) – straight from the website, ” FULLY DECENTRALIZED MARKETPLACE. We have developed a state-of-the-art marketplace where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Like Ebay or Amazon without corporate gouging, political interference, downtime, maintenance or hefty fees. Truly 1:1 global commerce. No middle man”.
  13. OmiseGo (OMG) – “OmiseGO is a public Ethereum-based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies. Designed to enable financial inclusion and disrupt existing institutions, access will be made available to everyone via the OmiseGO network and digital wallet framework.”
  14. Dash (DASH) – Supplied by coinsutra.com, “Dash is unlike other cryptocurrency projects like Ethereum or Stratis which are more of a development platform. Dash advocates itself as peer-to-peer decentralized electronic cash. It intends to be as liquid as real cash which we use in our respective countries like USD/GBP/EUR/INR or CNY. Dash is built upon Bitcoin’s core code with the addition of new features (such as privacy and quick transactions). Like BTC, Dash is open-source and has its own blockchain, wallet infrastructure, and community. But unlike BTC, its transaction fee is negligible. Moreover, it looks like from the attitude of the development community that Dash will only remain as digital money for the internet, which is a good thing”.
  15. Storj (STORJ) – This is similar to Siacoin, you can think that if this and Siacoin were to make it into the mature market someday into the future that it would be like Apple vs Android. Some people would trust Siacoin because it was bigger early on in the cryptocurrency market or Storj because it’s the new kid on the block. Nonetheless, this is blockchain technology meets encryption meets cloud storage. Your payment? Storj.
  16. Stellar (XLM) – a Ripple fork that aims to do what Ripple is doing, but more in the free side. What do I mean? Currently they are non-profit and want to be a leader in global payments. Can they do it? Maybe, if the team can gain even more traction and maybe one day go to for profit instead, they’ll be able to catch up in market cap and join Ripple in being leaders for global payments that are frictionless, and far times more of an improvement over the traditional payment systems like SWIFT.