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Top 5 Long term Cryptocurrencies

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top 5 longterm Alt Coins

This article is not intended as a price prediction, nor is it a ‘moon soon’ piece. This article’s sole aim is to share top 5 long-term cryptocurrency projects that we think have a fair chance on being around for longer than others, and hopefully be a permanent part of the blockchain ecosystem based on the strong fundamentals of the project, particularly in relation to:

  • Use case

  • Team

  • Historical progress

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We will not include the obvious choices, such as Bitcoin and Ethereum. Almost everyone who has been in this space for any period of time would have quickly realized that Bitcoin could emerge as global reserve and store of value, and Ethereum could be the platform of the future utilized by most Blockchain projects.

Price action for these two projects will be progressive, and saturation may not be in sight for another decade.

Having said that, we are going to skip projects like and specifically, XRP. You can find all the reasons why we skip XRP here. It may turn out to be an absolute hit, but it goes against the spirit of decentralization in our opinion, and hence, we will not recommend it.

With those basic and important considerations out of the way, let’s begin:

our 5th cryptocurrency pick is Elastos

Our 5th cryptocurrency pick is Elastos (ELA)

This is a wildcard pick of sorts. The idea, if successful, could lay the foundation to a ‘smart internet’ model. That statement is not to be taken lightly. If Elastos pulls off its grandiose plans, then its original ICO price of $20 per token shall appear like a mole on an elephant. For context, its ICO price alone represents 5x gains.

However, price action is not the sole determinant of altcoins, including Elastos. It is the fundamentals of the project and the grand vision, a vision as big as the internet itself.

Use case: What better use case can be found of blockchain than to transform the internet itself? Elastos wants to tackle the basic tenet of vulnerability and hackability of the internet by building a better version of the internet from the ground up – a lofty ambition that makes this such a bold pick. However, this is a necessary step in order to stabilize the foundations of the internet if we were to zoom into the future of 5G, driverless cars and robotized future. We need an internet that is decentralized, secure, and unhackable. Elastos may just be the project to address this mighty task.

TeamElastos has a full-fledged team to carry out the functions of the foundation for developing Elastos blockchain. Their blockchain team consists of 28 engineers who are led by Shunan Yu. Check out the full line up here.

Team members of Elastos- our 5th cryptocurrency pick

Team members of Elastos- our 5th cryptocurrency pick

Historical Progress:

Right from its introduction video to year-end reports, Elastos sets a different set of quality standards in the crypto space. Beyond the glitter, Elastos carries the proof of performance. From their whitepaper “Elastos is open-source software whose development process has been sponsored by industry giants such as the Tsinghua Science Park, the TD – SCDMA Industrial Alliance and the Foxconn Group for more than 200 million RMB. Elastos has published more than ten million lines of source code, including four million lines of original source code.”

Beyond its boasting credentials during the ICO, Elastos has consistently been progressing towards its mission. They post weekly update which does not seem to care about the market corrections or bear markets. This is another mark of a company with a mission.

Elastos Whitepaper


Fourth cryptocurrency pic is Cardano

The fourth cryptocurrency pick is Cardano (Ada)

When we think of Cardano, we think of the cluster of mad scientists who may someday change the world or be forgotten as the so-called mad scientists. Charles Hoskinson, his Ph.D. profile team, their IoHK Technology company backing massive initiatives are all unique to Cardano.

In our view, no other blockchain or crypto project comes close to the human capital of Cardano.

There are a few issues with their Daedalus wallet, but their customer support is impeccable. Their road map is rather long and slow for blockchain pace; however, the team’s systematic approach in executing their vision is one to behold. Ouroboros, Cardano’s Proof of Stake, promises to be one of the most mathematically accurate and fair systems out there.

IOHK | Ouroboros Genesis: A Provably Secure Proof-of-Stake Blockchain Protocol

Ouroboros Genesis – New research for Cardano We’re very proud to announce Ouroboros Genesis, a new paper from the IOHK research team. This latest version of …

Use caseCardano’s use case is difficult to pin down to one or two since its goal is to be the underlying blockchain technology layer for others to build their specific blockchain projects, similar to Ethereum. They have, in fact, wrapped Ethereum Classic into the Cardano ecosystem.

Team:

Cardano’s team consists of teams from 3 different entities working in collaboration to bring life to Cardano ecosystem. These include: Cardano, Input Output Hong Kong (IOHK) and Emurgo. Click on those links to see the sheer size and quality of the teams working on Cardano ecosystem, be prepared to be blown away.

Cardano Foundation Team

Historical progressCardano has a comprehensive update section dedicated to keeping everyone up-to-date on where things stand. You can check it here. Here is a video that walks through all the updates that have gone into the project:

Cardano Progress Update by Sebastien Guillemot (June 2019)

Seiza: https://seiza.com/home https://twitter.com/seiza_explorer Yoroi paper wallets: https://www.youtube.com/watch?v=TDus3P0utFc Yoroi Firefox: https://addo…

Cardano is not for people who are looking for a short-term, get-rich-quick sort of crypto projects. It definitely fits the criteria to be on this list.
Cardano Whitepaper:  Philosophy,  Academic Papers



third cryptocurrency pic is Basic Attention Token

Basic Attention Token

Basic Attention Token radically improves the efficiency of digital advertising by creating a new unit of exchange between publishers, advertisers and users. It all happens on the Ethereum blockchain. The value of the token is based on user attention, which simply means a person’s focused mental engagement.

Facebook and YouTube make billions of dollars based on content created by its users and the attention of other users to this content. In return, users get penalized with bills for data usage and lost time.

User attention is such a valuable commodity that some of the platforms go to lengths to track user behavior disregarding privacy concerns. Browsers play an essential role in exploiting user behavior to present them with content that grabs their attention so that they can display more ads.

Use case: BAT has one of the most readily realizable use-cases of blockchain and cryptocurrency. The idea is simple. You start using Brave browser. You get free BAT tokens that you can use to tip your favorite publishers. Publishers can also use BAT tokens to reward users for their attention (time) for viewing their ads or pitch. You can consciously choose whether or not you want to view a certain ad (which is not the case in the conventional model).

Basic attention token team of members

Basic attention token team of members

Team: Basic Attention Token, which is part of Brave browsing ecosystem, comes from the mind of Brendan Eich, the “creator of JavaScript and the co-founder of Mozilla and Firefox.” BAT is backed by a solid team of developers and well-known venture capital firms.

Historical progressBrave browser has seen an increase in monthly active users from 1 million at the beginning of 2018 to 5.5 million by the end of 2018. This is only growing by the day as more and more users realize the potential of BAT. As of 2018, Brave app was downloaded on 10 million Android-based smartphones.

According to the unofficial BAT growth tracking website, number of Brave browser publishers has crossed 161,000 as of June 2019. Of the 24,000 website publishers LA Times joining BAT ecosystem made ripples in the financial news market.  As of June 2019, the website publisher list includes The Guardian and Washington Post, along with Archive and Vimeo.  

Remember, we have not even begun realizing the potential of blockchain and decentralized advertising, and when that becomes a reality and user base reaches over 100 million, it can add a lot of fuel to the limited supply of 1.5 billion tokens.

In our view, Facebook’s recent announcement to create its own crypto, dubbed as Libra, is only an indication of where the blockchain and crypto space is heading, and based on the historical performance of BAT, we excitedly await what BAT does in the future.

Be part of the blockchain revolution, start using Brave browser today.  Thank you for using our referral link.  

CryptoTapas is a verified publisher on Brave browser, consider leaving a BAT tip.

Basic Attention Token Whitepaper


2nd pick is Icon(Iconex)Our 2nd pick is Icon (Iconex)If you have been following CryptoTapas, you know we are big proponents of ICON. We have been following this project before the ICO to date, and we believe this project has potential. At one point, their marketing and communications sucked, but they fixed it in due course.

One of the most professional teams in the blockchain and crypto space, right from the way they handled ICO with KYC and AML protocols to the way they vetted every profile before releasing tokens to ensure they have not tripped any wires.

How about the fact that none of their founders or team members had once talked about the price action from when it was 11 cents to when it was trading at $15 to when it is currently trading at 35 cents.

The team just keeps their focus intact and presses on to accomplishing the goals on the road map — a through and through professional company in this space.

Use case: ICON is a flexible blockchain platform that accommodates traditional smart contracts, sharding, and even STOs, which got included in their road map.

ICON ICX TeamTeam:ICON team consists of veterans from the real business world, not people from academics or day dreamers. In fact, their team size is one of the larger and more professionally organized ones. Look at these statistics.A total of 150 team members. Dan Tapscott, who is an iconic figure in the blockchain space, is on ICON’s advisory group.

JH Kim, ICON’s CEO and Min Kim are favorites in the ICON social circles. Their responses to trolls commenting on their slow progress have been praised by many.

Historical progressICON has been surgical in its approach to spreading its reach; not just in South Korea, but in the rest of the world. They have started a grassroots movement in bringing awareness at the university level for blockchain and encourage the brightest to come up with ideas. If these ideas get selected, they are funded by the ICON Foundation along with providing guidance. In a country like South Korea, to be recognized as the National Blockchain platform and to seep into the minds of the future right out of college is a masterstroke and one that shows their long-term strategy.

ICON also introduced a launch pad, which is ICON’s technical support to help companies leverage blockchain technology in their businesses without having to worry about technical guidance.

Their partnerships with Insurance companies, banks, universities, businesses, other crypto projects will probably take up double digit pages, you can check them out here and in our previous updates on ICON here and here.

All in all, they may not rule over the world right away, but they have a good chance of becoming the dominant force in South Korea, and we all know what happens to the technology companies that rule the South Korean market.

ICON will have staking opportunity. The only downside, a big one at that, is that with the consent of node participants, they can keep increasing the supply of ICON at 20% if it is deemed necessary for the overall health of the network.

ICON whitepaper

Our number one long term project pick is…

Our number one on this list will be revealed to our FREE subscribers.  Subscribers will get this recommendation, our upcoming eBook: Staying Relevant, and critical updates all for just subscribing.  We send no more than one email per week, so you don’t have to worry about spam.

Top 5 Cryptocurrencies for longterm 2019

Subscribe here to learn about our number one long term project.

Thank you for reading the article.

Cover Image Source: “Cryptocurrencies In Hand”by alpari.org is licensed under CC BY 2.0

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.

 

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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new blockchain technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.”  Of course, that is just his opinion.

 

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Factors adding gasoline to the Bitcoin shortage fire

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Bitcoin shortage

Bitcoin’s creation and its subsequent proliferation may have all been planned for a long time, this is the outcry of many conspiracy theorists.  

These conspiracy theorists also believe that whistle blowers are mere plants to help prepare the world for what’s coming.

One of their theories is that the end of physical fiat was planned a long time ago, however, the transition of physical fiat to digital fiat needed a catalyst to drive the conversation.

Either by meticulous design or by sheer coincidence – Bitcoin came to life in 2009.

We personally think that Bitcoin was designed by liberals who believed a ‘fair world’ was possible.

The invincibility of this groundbreaking technology meant that the forces that were working on doing away with physical fiat had a runway built for them.

So, the rhetoric has now changed from ‘Bitcoin is for anti-social elements’ to ‘Bitcoin is the currency for the visionaries’.

Why is that backdrop of conspiracies and layout necessary?

Because, irrespective of the underlying reasons the rhetoric has changed and it has changed for good.  This means, as the physical fiat follows the path of extinction, Bitcoin – the king of digital currency, will see a lot of demand.

We were warned a long time back that there will not be enough bitcoin in the world for everyone to buy.

Some studies say that owning .28 Bitcoin will guarantee you a seat in the top 1% bitcoin holders in the world while others say you need 5 bitcoins to claim the top 1% in the Bitcoin rich list.

Point is, even if you have all the fiat in the world, there is a limit on how much bitcoin you can buy.

When people who want to buy bitcoin are ready to pay any price while those who own the fractions of it are unwilling to sell it – the prices have only one way to go: UP.

 

The strategic moves into Bitcoin from MicroStrategy, Square, GrayScale, Fidelity and a host of billionaires who actually know something about money and finance is a tell-tell sign for the rest of the world.

Whether you want to get into Bitcoin to own a piece of technology itself, or to hedge against the inflation, or simply to use it as ‘digital gold’ that you can take with you, any and all of these reasons are good enough to look into Bitcoin.

If you had told us last year that a public limited company will convert its cash reserves into Bitcoin we would have laughed at you, but that is precisely what has happened.

As a result of converting fiat reserves to Bitcoin, the stock price of MicroStrategy saw an immediate boost which was as big as the reserve itself.

Do you think other public companies will stay on the sidelines for long?

When a legend like Paul Tudor Jones says ‘Bitcoin is the fast horse’ to bet on against inflation and he himself invests 2% of his portfolio, how long will it take for other fund managers to take note?

Add to this the demand from retail investors in the form of millennials, who are also set to inherit some $60 Trillion dollars from the baby boomer generation in the coming decade.

Conclusion

We personally think the goldilocks moment for Bitcoin has arrived.  It has the perfect combination of ‘scarce supply’ and ‘growing demand’.  It also has the added elements of adoption and ‘nascentness’ working in its favor.

These factors alone make Bitcoin one of the best investment assets of the century, in our opinion. 

We have been investing in Bitcoin using dollar cost averaging.  We don’t go selling our home or taking on insane loans to invest in bitcoin, rather, we invest $100 here and $100 there.

Before you invest your money into bitcoin or cryptocurrencies, spend some time understanding what Bitcoin is and why it is important in taking the world from the centuries old fiat system to a brand new global currency system.

In our personal view, Bitcoin will become one of the best assets to hold by the next halving.

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.

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Why this bull run has no precedence? ONE key metric to rule them all

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bull run 2020

Everyone is singing the praises for the bulls’ arrival in the crypto space.

Some say that 2020 will mark the biggest bull run in cryptos’, albeit short, history.  

We are already in October so we doubt any fireworks will take place now since there is a lot of uncertainty about the US elections.

Add the uncertainty around the stimulus bills, unemployment trends, soon to be lifted forbearances and the list goes on.

2020 still has another 2.5 months to go but most of these uncertainties will take a while to show their true impact.

For instance, what will a Biden presidency mean for the economy and cryptos?  

How many people will be forced to sell their homes once the forbearance’s are lifted?

What happens if the next stimulus bill does not pass through?

When will the vaccine become available?

These are some of the unique situations that we have no precedence for. Do not let anyone convince you that we know what’s going to unfold, because no one does.

Yes, everyone has theories, like the ones we are presenting here, but that is all they are: theories.

The BIGGEST metric that crypto community is not considering

We are no economists nor can we run any fancy charts to impress a point on you.  

We are just good observers and have common sense to deduce a few things based on data.  

For instance, between 2007 and 2010 consumer spending dropped by an overall .2% and we know what that meant for the economy.

Personal consumption expenditure

In 2020, people have literally cut down on their spending.  Some of it is forced due to the restrictions imposed by external forces and most of it is self imposed.

I am sure the spending on marijuana, liquor and food have gone up but what about other spending?

2020 also saw a spike in the savings balances.  

Economy is not stimulated by people hoarding their money. People need to exchange value for the economy to thrive.

What happens to the spending behaviors when the true stats around evictions, lost jobs (that are not coming back) and small businesses that are shutting down permanently are out?

Our guess is that people are going to be weary of spending money in the short to medium term. If we were forced to pick a timeline – we would say about 12-16 months (assuming we get a vaccine in Q1 2021).

When is the next bull run? 

Based on what we have seen in 2007 through 2010 and observing the consumer spending habits in recent times, we think that Bitcoin (and cryptos) will not find their true peak until next halving.

We know this is not what you came to hear.  

If the bull run in your mind is hitting the 2017 highs then we do not think you have to wait until the next bull run.

If the bull run means a $100,000 bitcoin then we stand by our opinion on when that is going to be.

A case for bull run

In spite of what is going on in the street, following factors are acting as strong bull market signals for the crypto space. 

Hype: Crypto space (specifically Bitcoin) has been gathering a lot of steam in terms of brand awareness and mass penetration.  This is great for the long game.

Adoption: More than ever, private and public enterprises are becoming serious about bitcoin and underlying blockchain technology.  What is good for bitcoin is good for blockchain and vice-versa.  MicroStrategy investment, Paul Tudor Jones getting involved with bitcoin are some examples.

Tech explosion: Crypto space is home to some of the brilliant minds in the tech space. Add Big Techs interest in the crypto space and you have a perfect recipe for monumental shifts in crypto perception. Tech giants like Microsoft, Google, Twitter, Facebook are all getting involved with blockchain and cryptocurrencies in some shape or form.

Retail demand: More and more retail investors are looking for alternative investments and they are waiting on the sidelines to get involved with Bitcoin.  As soon as companies like Fidelity or other brands offer crypto investment through retirement plans – there would be a massive influx into this space.

DeFi: DeFi in its current state might be infested with shittty projects but as a concept and technological shift to turn the current banking system upside down – it holds great potential. Any demand to DeFi brings more demand to bitcoin, ethereum and blockchain in general.

Conclusion

The debate around when is the next bull run will hinge on how the market recovers from this pandemic. How soon will we get the vaccine and how many of the lost small businesses and jobs are we going to resurrect?

From a macro perspective, Bitcoin and few select cryptocurrencies will continue their upward trajectory so if you looked back to 2020 five years from now, you might think bitcoin was on sale.  

Question is: how many people have that kind of patience?

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.

 

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Is Cryptocurrency driven by fundamentals or hype?

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Fundamentals or Hype

During the early 2000s India experienced a massive real estate bubble. With a lot of western companies opening their outsourcing centers in India, the land prices shot up 2x, 5x, 10x, and even 100x.

You read that right. 

Have you heard about 100x in Real Estate?

To be sure, the demand was exponentially growing in the major cities like Bangalore, Hyderabad, etc., which were quickly turning into back offices for the many western companies.

The hype in these cities was somewhat justified.

However, here is the kicker.  Many remote places which did not directly benefit from this influx of foreign direct investment started seeing their prices go up in similar fashion.

In a crazy case of trickle effect and super-hype created by the real estate agents, properties were just trading from one party to another for unbelievable markups and the prices constantly went up.

Today, that massive bubble is still intact minus the crazy multipliers.

The reason we like the comparison of what happened in Indian Real Estate market to the crypto is that a genuine need in a specific space has been exploited to translate that hype onto anything tagged with the name. 

In India that hype tag was ‘land’ and in crypto that hype tag could mean anything from ICOs to DeFi.

Ask any crypto enthusiast they will make you believe that crypto is all about fundamentals.  However, anyone who has spent even a few months in the space quickly realizes that crypto prices don’t follow fundamentals.  

This is one place where Crypto space shares its similarities with the stock market as well.

Stock market is completely distanced from the economy and it too acts irrationally, that is, when people are losing jobs and businesses are shutting down permanently, the stock market rallies higher and higher.

Similarly, crypto space, to its own detriment, is ignoring the projects that have amazing fundamentals while pumping other projects solely based on the hype.

Long term vs. Short term

Hype is short lived. Fundamentals are a long game.

That is why we emphasize that anyone interested in the crypto space does their own research in finding the projects that meet their fundamental criteria.

Once you know that a project has fundamentals (team that can execute, problem worth solving, solution that can solve, market demand, etc.,) then you just ignore the FOMO and FUD.

This will help you sleep better and use your spare time and energy in quality endeavors like taking care of yourself or spending time with family, etc.,

If you get on the hype train – it will be difficult to catch the right wave and this constant lookout for the next big thing is going to rob you of all the peace.

And, if you find yourself on the right side of the wave – you will be decimated and drowned.

DeFi defies all common sense

That is what happened with a lot of people who tried to ‘time’ the DeFi market.  

Don’t get us wrong. Many people made a ton of money (and good for them).  However, remember, crypto at this point of its evolution is a zero sum game.  That means, for everyone who made a million someone lost that million.

Unless you got on a project quite early keeping your risk level low or you have some insider information (not to mention this being illegal), you can generally not ‘time’ the market.

Many veteran traders have lost their shirts in chasing the market.

Conclusion: does this mean I should stay away from DeFi?

We cannot tell you that.  That is something you got to decide for yourself.

By market cap, Yearn Finance is considered one of the top DeFi projects. It lost over 67% in less than a month.   

Personally, if the top most project is still trying to find the ground while other projects are losing 99% of their value in a matter of a day, that means one thing:  the space needs time to mature.

We will continue to learn about DeFi. We will continue to invest what we can afford to lose when we find the right project that meets our fundamentals criteria.

That is our strategy at the moment. You have to find a strategy that suits you.

While crypto space is riding on the hype at the moment, we continue to believe in fundamentals.

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.

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