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ICO Review: ICON: Could this be the ICONic ICO we have been waiting for?

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ICON

|originally posted on Steemit on 17-September-2017|

More and more countries are accepting the crypto-currency revolution. Of course, Japan beats everyone to dust when it comes to progress. The reason Bitcoin has broken all of its price ceilings has primarily to do with legalization of Bitcoin in Japan. I heard news that India may follow the suit and may even be introducing its own digital currency.

Whenever a new technology comes in this block-chain crypto space, people often compare it with Ethereum instead of Bitcoin, primarily because Ethereum is a platform and not just pure currency.

It was EOS that was mocked as ‘Ethereum killer’ then it was Lisk and UBIQ (although built on ETH) that was supposed to take over the ETH space. All remain speculation or work in progress at best, at this time.

In light of these hype claims, will ICON standout as a winner? That is what we are going to discuss in this review.

1) Disruption:
ICON is a decentralized blockchain network where communities that are otherwise disconnected can connect. Their site introduces ICON as follows:

“The ICON project is building one of the largest decentralized networks in the world.”

Watch this video that gives a great glimpse at the project including an example of insurance industry.

ICON is acclaimed as ‘Enterprise Solution’.

You create the ID on their platform which will then used for Enterprises to share, exchange and settle right on their decentralized exchange within the platform while easing the usability by use of AI while being scalable and staying truly decentralized at the same time.

Think of Civic meets ETH and beats the shit out of EOS and Bancor at once! How powerful would that be? Don’t believe me? See below chart from their site:
I am assigning 35 points.

2) Team and Roadmap:
ICON’s Whitepaper offers a very unique insight that is missing in most ICOs, that is:
details on the supporting proprietary technologies that have been in development over the past few years. More importantly, we discuss actual implementation with dozens of reputable institutions that are already in the ICON Network.” (page 4).

Most ICOs these days are spin off of some previous idea or some outlandish goals with teams that neither have means or knowledge of achieving even fraction of such grand claims.

Their team consists of Advisors, Foundation Council, Blockchain Department, AI Department and Design, Marketing, Security Departments. I have not seen such a big and rounded team structure in any of the recent ICOs (that I have looked at).

Just reading through the profiles, you will find it abundantly clear that none of these team members are rookies. For putting together such a divers, qualified and abled team together I am assigning 20 out of 20 points.

3) Active presence in the Market:
Their slack already has 7000+ subscribers; Facebook crypto groups are buzzing in anticipation with their ICO. YouTube videos show glowing reviews. Enough said.

Team is working with over 25 securities firms, 6 hospitals, universities, banks and more. An oper-source project funded by KOREAN GOVERNMENT.

Being South Korea’s first ICO, and with China imposing restrictions recently, this ICO may be difficult to get on (as there will be stiff competition from investors) but for those that manage to get on it will be glad, in my opinion.

I am assigning this 15 out of 15 points.

4) Acceptable cryptocurrencies to participate in the ICO:
Contribution has hard cap of 150,000 ETH, at the current price that would keep this project around $36 million dollar mark. When half-assed projects like Tezos can raise 120 million dollars, I am sure this project is going to hit $200 million market cap in months if not weeks.

ICON

That will put the ICX (ICON token) price from ICO price of .10 cents to .55 cents. And I believe I am being conservative here. I never recommend investing your money in any project for the sake of pure financial rewards and even if it takes longer for the financial rewards to show – this project is worth backing up for what it promises.

You can only contribute ETH to take part in this token sale and as a policy of mine – I cannot assign any points when the choice to participate is limited to BTC and ETH.

I am assigning 0 out of 5 points.

5) Author’s Bias:
I have not reviewed ICOs for a long time now. It was not because of lack of ICOs but just the sheer insanity in the ICO space where everyone is trying to milk the gullible (and sometimes greedy) investors.

In this time, ICON which is Korea’s first ICO that is backed by Korean Government itself has come as a light in otherwise darkening ICO space.

I am thrilled about their existing work product, amazing team and possibilities it promises in the ICO and Blockchain space.

For the sheer number of BS ICOs that I had to go through to find this gem, I am assigning 20 out of 20 points.
ICON

Verdict: I am IN
With recent ICO space ban in China and potential restrictions that may sprout from across the world, it is even more important to pick a good ICO project before we part our hard earned money.

With Korean Government itself backing this project, it is a welcoming relief to otherwise distraught and panicked Cryptoworld.

A working product, established network, amazing team, deep expertise are some of the strong indicators of a viable project, I see all of them in ICON and I do believe that they will help ”Hyperconnect the world”.

Please read ICON Whitepaper before deciding to invest.

If you would like for me to review an ICO that you are looking into, drop a note in the comments. I cannot promise that I will be able to review all requests but I will try to if my schedule permits. Your comments will also help keep me in the know about the ICOs that I may have missed.

CryptoTapas is an initiative of creators of Cryptotapas group and its FREE to join.

Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose.  Opinion, not an advice.

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Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

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

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.

Continue Reading

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Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

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

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.

 

Continue Reading

CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

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crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

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

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.

Continue Reading

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