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Bitcoin, when moon? How to stack up your sats before the moon

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Bitcoin When Moon

Bitcoin, when moon? This is probably one of the most asked questions in the crypto space.

If you are a newbie to the crypto space, when moon means: when will we see the all time high again. 

It is ironic that Bitcoin started as an anarchist movement then it got into the hands of anti-social elements.

It has then got into the hands of nerd dreamers.

It has then journeyed into the hands of snake oil salesman who manipulated the market to it’s all time high in 2017. 

They have cashed out and left the unassuming newbies to burn.

Top 5 Cryptocurrencies 2020

Consolidation is in works but are we witnessing 2016 repeat?

bull stampedeSince the halving, Bitcoin seems to be consolidating. 

The question that lurks in the minds of those who were burned in 2017-18 is ‘will history repeat itself?’

In a way we are seeing a similar pattern as 2016 and 2017, and yet we believe we are going to experience a different type of bull run this time.

Our assumption that the bull run this time will be a long and steady one rather than an overnight shoot.  

Our views are based on the factors we are noticing.

Factors that might take Bitcoin to the moon!

While we cannot tell you when Bitcoin will moon, we can tell you that the developments we are noticing in space are aligning the stars for the Bitcoin mooning.

Below is a partial list of path makers for bitcoin mooning:

Millennials

According to Teeka Tiwari, millennials will contribute to the bitcoin adoption.  

Teeka claims that “This global younger generation is set to inherit about $68 trillion worth of their parents’ wealth,” in his opinion “a lot of that money is going to find its way into digital assets.”

Kingdom Trust /Fidelity

Kingdom Trust bitcoinKingdom Trust entered into an exclusive partnership with Fidelity Digital Assets to help safeguard the Bitcoin invested through Kingdom Trust retirement plans. 

Listen to these words from Ryan Radloff, CEO of Kingdom Trust, as to the significance of this move: “For anyone who was considering bitcoin as part of their retirement portfolio, but was waiting for the infrastructure to mature and for familiar names to enter the space, that day is today.” 

Venmo | Cash App | PayPal | Robinhood | Reddit | 711 and more

Robinhood Trading platformPayPal is rumored to have big plans in place to bring bitcoin to their platform.  

Venmo is offering options for users to buy crypto through their app.  

Cash App has been early to the game in offering bitcoin purchases via Cash App.  

Robinhood which made waves by making it easy to buy fractional stocks has been offering crypto purchases.

Similarly, Reddit, 711, Twitter and many others have started to invest in getting associated with bitcoin and cryptos in one form or another.

We are harping on this aspect because this is how you make bitcoin and cryptos readily accessible to the masses.  

Once masses start to look at Bitcoin in sats – a $1 Million dollar bitcoin will still sound cheap.  It may not happen today but without these onramps it may never happen. 

Good news is the on ramps are being built every day at an amazing speed to accelerate the mass adoption.

Fidelity Digital Assets

Fidelity cryptocurrency newsFor masses to trust their hard earned money, you have to make it easy to buy and store your bitcoin.  

Right now, the easiest way is through Coinbase.  However, it only offers post-tax purchases. 

When a company offers a secure way to acquire bitcoin through a retirement fund (meaning, pre-tax), then there is a great chance that people will start allocation a small 1-2% of their portfolio to bitcoin.  

This drip of investments flowing into Bitcoin will create a sea of demand.

Coinbase IPO

coinbase best exchangeYou can hate or love Coinbase, one thing is for sure, it helped bring more people to bitcoin and cryptos than any other platform in our view.  

We have entered into cryptos through Coinbase and for that we are forever grateful.  

We have been frustrated with Coinbase about their ‘crashes’ every time the price moves +- 5%.  Hopefully they will soon address this issue.  

Now, Coinbase’s plans to go public is great news for the crypto space in general because it means a crypto company will be trading on the stock market bringing awareness and liquidity to the crypto space.

Top 5 Cryptocurrencies 2020

Stacking up on sats before bitcoin moons

Double your BTC by stacking up on sats 

We are personally investing a small portion of what we earn into Bitcoin each month, like clockwork.

It doesn’t buy us the whole bitcoin or even big fraction when you look at it from 1 bitcoin perspective. 

However, when you start looking at Bitcoin in sats dynamics change quite dramatically.

For example, we try to buy at least 1 Million sats each month.  At the current price of $9200, that translates to about $92.

As we said, it may not be much in material sense, but for us it is a discipline of gathering sats.

How do you double your BTC?  

By saving your fiat in BTC.  

Every time we skip an expense or save on a deal, we use those savings (again not big amounts) in sats.

If bitcoin ever reaches $1 Million, then those million sats worth $92 could be valued at as much as $10,000.  

Obviously, there is no guarantee that this will happen and losing on a small amount from the monthly budget is not too bad from a pure investment perspective.

Crypto lending

Celsius Network

Celsius Network logoOur personal favorite. We use Celsius to earn interest in sats. We do not get a big load 

of them but every sat helps. Celsius notification about ‘interest’ every Monday makes 

Mondays are more bearable.

Crypto.com

cro tokenThis company has gotten into hot water because of an issue that is not their mistake at all.  

The company that Crypto.com banks with was declared insolvent and the company has been making arrangements to move their banking to another company.  

User funds are not in danger, according to the company.  

Besides this temporary hiccup, we think Crypto.com has a bright future in bringing more people to the crypto.  

Crypto.com offers interest bearing deposits, collateral based loans and crypto cards so that people can use their crypto in the real world.

BlockFi

Similar to Celsius, BlockFi offers interest on crypto deposits and offers collateral based loans. These solutions pave the way for masses to try crypto and bring more use cases.

Top 5 Cryptocurrencies 2020

Rewards for shopping

Lolli Shopping App Bitcoin        pei shopping app bitcoin

Lolli

One of the leading shopping apps which rewards its customers with bitcoin or cash when you shop at your favorite stores.

Pei

One of the easiest ways to earn bitcoin as a cashback for whatever you shop with pei.

how to use pei

Micro Tasks

Timebucks

is Timebucks legit

Timebucks, pays you in bitcoin and cash for taking surveys, clicking ads, and many other simple tasks.

Faucets

What is a Bitcoin faucet?

Faucets are more like a free give away of bitcoin in very small fractions every time interval or an hour. Initially, it was a way of giving users a small portion of bitcoin for free to create an awareness about it and help the adoption of bitcoin.

The faucets are then sent directly to your bitcoin wallet or any intermediary platforms such as coinpot for example.

A certain balance needs to be attained in order to withdraw your collected faucets to your wallet.

Here are some of the best bitcoin faucet sites:

1. Freebitcoin

Free bitcoin

Freebitcoin lets you roll a dice every one hour and the winning can range from $0.0003 to $300, with a withdrawal limit of at least $1.

2. MoonBitcoin

Moonbitcoin lets you claim every 5 minutes but you need to connect your account with Coinpot to signup.

A simple walk through on how to claim your free coins.

Moon Bitcoin

Moon Bitcoin

3. Cointiply

Cointiply allows you to earn through different ways other than just rolling the dice every 60 minutes. You can also choose to take surveys, watching videos and playing games. Cointiply lets you withdraw your coins to Faucethub, another intermediary wallet, similar to coinpot.

Cointiply bitcoin faucet

Check out more sources on How to earn free bitcoin.

When everything fails, rely on dollar cost averaging

This is what we started off with.  

Irrespective of price, we continue to put a certain amount of our savings each month in bitcoin. 

This is probably the best way to ignore the noise around the price action of Bitcoin and continue to stack up on your sats.

Thank you for reading and sharing this article. Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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5 questions we want XRP army to answer!

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xrp investing news

What follows is our opinion.  

Let’s not be hostile.  

Top 5 Cryptocurrencies 2020

We are simply posing some questions based on the information we came across and our own limited interpretation. 

It is quite possible that the sources we are referring to are at fault or our interpretation is. Either way, just answer these questions for us so that we can learn new things about XRP that we did not know.

Our readers know that we have been anti-XRP for a long time. We got trolled, mocked and called ignorant. Well, to each their own.

Our questions to the entire XRP army are simple, here they are:

Question 1: If crypto was to replace (or at least reshape) the entire banking business then what does a token whose sole business model is based on ‘accommodating’ banks have any future?

To put differently, when the world starts conducting commerce via text messages why do we need banks and Ripple which wants to serve banks?

Our basis for this question: 

In the future when we will start doing business with each other over text messages, wallets and email signatures, why do we need a payment gateway from Ripple?

We know that WeChat payment enables users to transact over chat.  Other companies are trying to catch up with this (primarily why Facebook was looking at creating its own currency, Libra).

However, once we have a digital dollar, we do not even need an outside stablecoin since one could, in theory, use the digital dollar directly.                  

Question 2: Why do you have to pay businesses to use XRP if it is so superior?

Our basis for this question: 

Financial Times reported that Ripple paid Moneygram to use Ripple technology.

Here is a direct quote:

It turns out Ripple has been paying a significant amount of subsidies cash to MoneyGram’s business since buying into the company in June. In the third and fourth quarter alone the Ripple benefits amounted to $11.3m.

What’s more, until a consultation with the SEC**, MoneyGram had been more than happy to book these cash flows as revenues. Due to the SEC guidance, however, it has now had to restate fourth-quarter guidance to account for Ripple payments as “contra expenses”.

XRP Twitter

Question 3: What is Ripple’s revenue worth without the ‘selling’ XRP?

Our basis for this question: 

The question seems to be answered by the XRP’s CEO himself. Here is an excerpt:

Asked if XRP was keeping everything cash flow positive at Ripple Labs, Mr Garlinghouse answered: “Well XRP is one source. I don’t know how to answer that because if you took away our software revenues, that would make us less profitable. If you took away all our XRP, that makes us less profitable. So I don’t think about it as one thing.” 

He clarified later: “We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.”

In our opinion, we think that the only reason Ripple (XRP) is even operational is because of the billions upon billions of XRP tokens that they keep dumping on the unassuming investors.  

Is this a wrong assumption?

Question 4: If Ripple does not need XRP, why is XRP needed?

Our basis for this question: 

This is based on our understanding that Ripple’s technology can be used by the businesses without having to use XRP.  It is recommended but not ‘required’.

Is this accurate?

Ripple’s solutions can work without XRP (its native token).  So, if XRP is not a utility token in strict sense, how are its creators able to mint and sell them at will without tripping any security laws?

Question 5: If Ripple [XRP] is to act as the ‘stable’ value while the transactions take place on Ripple network, why should anyone trust XRP which is backed by nothing instead of stablecoins like USDC that are backed by real world assets?

Our basis for this question: 

We would personally trust USDC more or even Facebook’s Libra rather than XRP which is backed by nada.

This is what Demelza’s opinion was during our interview:

“The main point is that if XRP were able to back their currency with financial assets and stabilize the purchasing power of the currency, then that would mean XRP coins should have no price appreciation. In fact, only the equity shares of Ripple Labs would profit from XRP’s adoption as a global reserve currency. But Ripple Labs is a privately held company. After fully understanding what XRP is, one realizes that XRP’s investment pitch does not make sense at all.”

Conclusion

We are trying to convince ourselves as to why we need Ripple in the crypto space if:

  • Future of payments is going to be ‘self-bank’ & over the chat
  • There are better stablecoins in the market 
  • Ripple itself as a technology doesn’t need its own native token, XRP

For this very reason, our opinion is that the money will flow out of XRP and the creators will keep dumping their bags into the market until the market can no longer absorb it and then it will be ‘lights out’.

We await for the XRP army to provide us insights that we did not know and our opinion changes…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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DeFi is Not the Holy Grail of Crypto, Here is Why

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Defi Yfi

DeFi has been making millionaires overnight and turning millionaires broke at the same speed.

Those who are on the bandwagon are rejoicing and those who either missed out or got burned by one of the fake projects are yelling ‘Scam’ at DeFi.

Top 5 Cryptocurrencies 2020

Our views are a bit different on the subject.

We do think DeFi is going to be a successful vertical among the blockchain (and crypto) solutions.

It will not be THE holy grail for the redemption of crypto status though.

Supply Chain, Crypto Lending, Insurance, Financial Services, Accounting, Identity, and many more verticals will collectively take blockchain and crypto to the masses.

Shifting our focus back on DeFi, here are some of our thoughts on the current state of DeFi. We do appreciate you dropping any insights you have that we might have missed.

DeFi is not a ponzi, here is why

If the DeFi project you are eyeing meets the following conditions, it is not a ponzi:

  • Audited code: Is the code on which DeFi runs is audited by reputable blockchain auditors? 
  • Reliable team: Who is behind the project? Do they have the know-how? Do they have a history of running scams or leading successful projects? 
  • Actual (sustainable) revenue model: What is the revenue model?  Is it too ‘scammy’ sounding or is it based on sound mathematical (and algorithmic) models?
  • No lock-in periods: Is it easy to get in and out of the platform without any restrictions or lock-in periods?

If you answered yes to ALL of these questions then there is a 100% certainty that the DeFi you are dealing with is not a ponzi (or scam).

However, a caveat is due here.  

Just because the project is not a ponzi doesn’t guarantee its success. Lot of well intentioned companies fail, that’s just the nature of business.

So, do not be one of those guys who sells their home to invest in crypto or DeFi (and that itself is not advice, just an opinion).

If you don’t want to hear it from us, listen to what Yearn Finance creator has to say about DeFi tokens (not all, obviously) having ZERO value.

Source: Crypto Culture

DeFi on Ethereum is not sustainable, here is why

Ethereum DefiMost, if not all, DeFi projects that are making the news today are on Ethereum. 

Ethereum is not a reliable blockchain when it is overloaded.  It gets choked and crashes.  

People are already complaining about exorbitant fees on the network due to the DeFi craze.  

DeFi itself as a crypto vertical is quite new and we are sure there are going to be a lot of ‘killer apps’ that will show up on the scene.

We are currently looking at the DeFi solutions that are being built on other blockchain networks (subscribe for free to know when we post that article).

PolkaDOT is not the end all be all, here is why

Polkadot Defi EcosystemMany are turning to the DOT as the next big thing after Ethereum.

It may very well be.

However, it has not had the chance to prove itself, not yet.

Ethereum’s resilience (or lack thereof) was revealed only during the ICO craze (and then later during CryptoKitties debacle).

What monsters lie in the DOT’s belly?  We don’t know and we would be weary of anyone who claims to know with certainty.

Other things to consider

Entire DeFi space is pretty new and we do not know what we do not know about potential vulnerabilities.

While this is true of Bitcoin itself, Bitcoin has withstood assault for over a decade and still stands stronger.  

Same cannot be said about DeFi.  

Can you imagine someone investing their life-savings into DeFi only to have funds taken because of a bug in the code?

Needless to say, many folks are exploiting the looping system in the DeFi where they take loan against their deposit then lend it back to the platform to take another loan against their deposit, and ad infinitum.

This is causing the DeFi systems to show more liquidity than what truly is.

Conclusion

We think DeFi is an exciting development, however, we still put it alongside ICO craziness for now.

When this space matures and we see reliable solutions emerge – DeFi has the potential to drive a trillion dollar vertical on its own.  

That is just the potential, all the trials and tribulations that we have to go through to get there is going to be one hell of a ride.  

So buckle up and enjoy (and please do not lose your shirts on the ride)!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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These forgotten gems could resurge during this bull run

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Forgotten Crypto Gems

Forgotten Crypto Gems

Disclaimer:  We own few of these tokens and there is no guarantee that these coins will actually resurge. Everything you are about to read is an opinion.  Our intention is to put some projects that have taken the backseat in recent times.

If you are curious as to why we give away so much for free – please check this Crypto Freebies page.

Top 5 Cryptocurrencies 2020

Crypto market is quite weird.  

It deceives the onlooker as if it’s learning from its past mistakes but it’s really not.

For instance, during the 2017 ICO craze, anyone could pitch any half-assed idea and raise millions from unassuming investors.

This bull run in 2020 is all about DeFi and Data Oracles.

Just slap ‘DeFi’ to any project without an actual product or even a single line of code written and you will make a boatload of money.

Because the ‘pump and dump’ practices are not closely monitored in the crypto space, many YouTubers are dumping their bags on their viewers.

It is so blatant that the YouTuber will start out saying “I loaded my bags with this” and then go on about all the mooning stuff and throw in a small disclaimer somewhere and voila. 

They make hundreds of thousands or even millions each day. And we are not exaggerating about that.

You contrast that with what you find here.  

We are giving away all the information we are digging up for free (including our Top 5 tokens for the next decade that we hope will 100x).  If you are curious as to why we give away so much for free – please check this Crypto Freebies page.

We recently started the microcap gems series where we are looking to dig up projects with a decent team, an actual product and lower market cap (usually under $5 Million, sometimes even less).

Because of the $$ limit on the microcap gems, there are some projects that we couldn’t cover in that series.

However, we wanted to float these projects in front of the discernible audience (and newbies who may not have looked into these).

This article’s sole aim is to ‘point’ you to these projects. It will not be a deep dive and as always we encourage you DYOR before investing.

Dragon Chain

Dragon Chain price prediction“Dragonchain is an enterprise and start up ready platform to build flexible and scalable blockchain applications.”

Like most projects we pick, Dragon Chain has solutions ready for business today.  This is not a pipedream or a 15 year roadmap.  That is why we think this is a forgotten gem.

This project is still going strong in the background in terms of development and traction.  They released a video in August about how their anti-fraud and transparency proof systems are used by an exchange.

Website: https://dragonchain.com/

Ticker: DRGN

ATH: $5.27

ATL: .02

Current Price: $0.079

Cindicator

Cindicator CND price prediction

“Cindicator builds predictive analytics by merging collective intelligence and machine learning models. Cindicator’s analytical products are available exclusively to holders of CND tokens.”

Market pays top dollar for prediction data.  Cindicator is one of the first projects to build an AI based market intelligence platform on blockchain.

Cindicator boasts over 135,000 analysts from over 135 countries.

In our opinion, Cindicator is a viable project, although it has not gained traction.

Website: https://cindicator.com/

Ticker: CND

ATH: $0.347

ATL: $0.002

Current price: $0.011

FunFair

Funfair Price Prediction

“FunFair is a revolutionary blockchain technology platform that provides low cost, high quality, transparent casino experiences that are Guaranteed Fair.”

The space that FunFair is targeting is a massive one and is expected to grown even more in the coming years.

Ticker: FUN

ATH: $0.33

ATL: $0.0010

Current price: $0.0052

This page will be updated with future ‘forgotten gems’, so please consider subscribing

Acronyms used: 

ATH: All Time High

ATL: All Time Low

DYOR: Do Your Own Research

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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