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https://preview.redd.it/3ygnthtqths31.jpg?width=1200&format=pjpg&auto=webp&s=e681b3df0e1fe4547fc85547b4d62e4c6bffa481 https://coin360.com/ UPbit Operator Dunamu To Launch Comprehensive OTC Platform
Dunamu, an operator of global cryptocurrency exchange UPbit, announced Oct 14 that it planed to launch a comprehensive over-the-counter trading platform that deals with all types of unlisted stocks. According to the UPbit operator, it will jointly launch the platform, which will be available in the form of an App, with local brokerage Samsung Securities and big data analytics company Deep Search in the end of October. FSB Chair Reports To G20 Finance Ministers And Central Bank Governors
On Oct 13, the Financial Stability Board (FSB) published a letter from its Chair Randal K. Quarles to G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. this week. The letter highlights three areas of the FSB’s work, which include the potential financial stability issues from global stablecoins. It mentions that stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. “Possible regulatory gaps should be assessed and addressed as a matter of priority. The FSB has formed a working group, to inform regulatory policy approaches that harness the benefits of financial innovation, while containing associated risks for the financial system, and advise on multilateral responses as necessary. The FSB will submit a consultative report to the G20 in April and a final report in July 2020,” the report reads. US Senators Threaten CEOs: Dump Libra Or Face Regulatory Wrath
Facebook’s crypto woes are deepening as more partners are jumping the Libra ship before it even sets sail. It appears that US senators are urging them to do so as letters to CEOs have been leaked online. Some say the government is stifling innovation while others agree the crypto project is just dangerous. It seems that a number of US senators have been privately contacting Libra Association members urging them to dump the project like a hot rock. Letters shared online by VanEck digital asset strategist Gabor Gurbacs highlight the extent US politicians will go to in efforts to prevent Libra ever launching. Report: G7 Says ‘Global Stablecoins’ Pose Threat To Financial Stability
The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. According to the BBC on Oct 13, a draft report from the G7 outlined the various risks associated with digital currencies. It also said that, even if member firms of the governing Libra Association addressed regulatory concerns, it may not get approval from the necessary regulators, stating: “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed. […] Addressing such risks is not necessarily a guarantee of regulatory approval for a stablecoin arrangement.”
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th. Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.” Skycoin (SKY): 14 October 2019 Hardware Release “New hardware product launch.” Bibox Token (BIX): 14 October 2019 Weekly Report “Check out Bibox Weekly Report (Vol. 67 2019.09.28–2019.10.11)”
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th. OTOCASH (OTO): 15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM” (CRYPTO): 15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17. Cardano (ADA): 15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYC FunFair (FUN): 15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on Discord Ark (ARK): 15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “ DigiByte (DGB): 15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC. ThoreNext (THX): 15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16. (CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM. Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.” IoTeX (IOTX): 16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.” Selfkey (KEY): 16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.” Cardano (ADA): 16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent
Encrypted project calendar（October 17, 2019）
Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.” IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct” Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’” Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM. Horizen (ZEN): 17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18. OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.” HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.” BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.
Encrypted project calendar（October 20, 2019）
GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward! Aeternity (AE): 20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply!
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money. Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains. Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.
Encrypted project calendar（October 22, 2019）
ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th. Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. https://preview.redd.it/roxxrqbuths31.png?width=504&format=png&auto=webp&s=c94149f1d2f662508b925a59ec31d863731918fb
This past week, we saw a nasty decline from the $8,950 zone in bitcoin against the US Dollar. The price declined heavily and broke the key $8,500 support area. Moreover, there was a close below the $8,500 level and the 100 hourly simple moving average. It opened the doors for more losses below the $8,400 and $8,350 support levels. Recently, there was a recovery above the $8,400 level, but the price failed to gain pace above $8,450.
As a result, there was a fresh decline from the $8,472 high. During the decline, there was a break below a key ascending channel with support near $8,340 on the hourly chart of the BTC/USD pair. The pair traded as low as $8,146 and it is currently correcting higher. It broke the $8,200 level and the 23.6% Fib retracement level of the recent decline from the $8,472 high to $8,146 low.
At the moment, the price is testing the $8,300 area. Besides, it seems like the 50% Fib retracement level of the recent decline from the $8,472 high to $8,146 low is acting as a resistance. On the upside, there are many hurdles forming near the $8,350 and $8,400 levels. The key resistance is near the $8,400 level and the 100 hourly SMA. It also coincides with the 76.4% Fib retracement level of the recent decline from the $8,472 high to $8,146 low.
Therefore, a clear close above the $8,400 level might start a decent recovery. The next key resistance is near the $8,500 level, above which the price could test the $8,800 resistance. Conversely, if the price fails to recover above $8,350 or $8,400, it could resume its decline. An immediate support is near the $8,200 level. Review previous articles: https://firstname.lastname@example.org
By Taylor Margot. Everyone should read this! THE BASICS
SUMOkoin is a fork of MONERO (XMR). XMR is a fork of Bytecoin. In my opinion, XMR is hands down the most undervalued coin in the top 15. Its hurdle is that people do not know how to price in privacy to the price of a coin yet. Once people figure out how to accurately assess the value privacy into the value of a coin, XMR, along with other privacy coins like SUMOkoin, will go parabolic.
Let’s be clear about something. I am not here to argue SUMOkoin is superior to XMR. That’s not what this article is about and frankly is missing the point. I don’t find the SUMOkoin vs. XMR debate interesting. From where I stand, investing in SUMOkoin has nothing to do with SUMOkoin overtaking XMR or who has superior tech. If anything, I think the merits of XMR underline the value of SUMOkoin. What I do find interesting is return on investment (“ROI”).
Imagine SUMO was an upcoming ICO. But you knew ahead of time that they had a proven product-market fit and an awesome, blue chip code base. That’s basically what you have in SUMO. Most good ICOs raise over 20mil (meaning their starting market cap is $20 mil) but after that, it’s a crapshoot. Investing in SUMO is akin to getting ICO prices but with the amount of information associated with more established coins.
Let me make one more thing clear. Investing is all about information. Specifically it’s about the information imbalance between current value and the quality of your information. SUMO is highly imbalanced.
The fact of the matter is that if you are interested in getting the vision and product/market fit of a $6 billion market cap coin for $20 mil, you should keep reading.
If you are interested in arguing about XMR vs. SUMOkoin, I point you to this infographic Background
I’m a corporate tech & IP lawyer in Silicon Valley. My practice focuses on venture capital (“VC)”) and mergers & acquisitions (“M&A”). Recently I have begun doing more IP strategy. Basically I spend all day every day reviewing cap tables, stock purchase agreements, merger agreements and patent portfolios. I’m also the CEO of a startup (Scry Chat) and have a team of three full-time engineers.
I started using BTC in 2014 in conjunction with Silk Road and TOR. I recently had a minor conniption when I discovered how much BTC I handled in 2014. My 2017 has been good with IOTA at sub $0.30, POWR at $0.12, ENJIN at $0.02, REQ at $0.05, ENIGMA at $0.50, ITC (IoT Chain) and SUMO.
My crypto investing philosophy is based on betting long odds. In the words of Warren Buffet, consolidate to get rich, diversify to stay rich. Or as I like to say, nobody ever got rich diversifying.
That being said I STRONGLY recommend you have an IRA and/or 401(k) in place prior to venturing into crypto. But when it comes to crypto, I’d rather strike out dozens of times to have a chance at hitting a 100x home run. This approach is probably born out of working with VCs in Silicon Valley who do the same only with companies, not coins. I view myself as an aggressive VC in the cryptosphere. The Number 1 thing I’ve taken away from venture law is that it pays to get in EARLY.
Did you know that the typical founder buys their shares for $0.00001 per share? So if a founder owns 5 million shares, they bought those shares for $50 total. The typical IPO goes out the door at $10-20 per share. My iPhone calculator says ERROR when it tries to divide $10/0.00001 because it runs out of screen real estate.
At the time of this writing, SUMO has a Marketcap of $18 million. That is 3/10,000th or 1/3333th. Let that sink in for a minute. BCH is a fork of BTC and it has the fourth largest market cap of all cryptos. Given it’s market cap, I am positive SUMO is the best value proposition in the Privacy Coin arena at the time of this writing. * ROI MERITS OF SUMOkoin
So what’s so good about SUMOkoin? Didn’t you say it was just a Monero knock-off? 1) Well, sort of.
SUMO is based on CryptoNote and was conceived from a fork of Monero, with a little bit of extra privacy thrown in. It would not be wrong to think SUMO is to Litecoin as XMR is to Bitcoin. 2) Increased Privacy.
Which brings us to point 2. SUMO is doing several things to increase privacy (see below). If Monero is the King of Privacy Coins, then SUMO is the Standard Bearer fighting on the front lines. Note: Monero does many of these too (though at the time of fork XMR could not). Don’t forget Monero is also 5.8 billion market cap to SUMO’s 18 million. a) RingCT.
All transactions since genesis are RingCT (ring confidential transactions) and the minimum “mixin” transactions is 13 (12 plus the original transaction). This passes the threshold to statistically resist blockchain attacks. No transactions made on the SUMO blockchain can ever be traced to the actual participants. Nifty huh? Monero (3+1 mixins) is considering a community-wide fork to increase their minimum transactions to 6, 9, or 12. Not a bad market signal if you’re SUMOkoin eh? b) Sub-addresses.
The wallet deploys disposable sub-addresses to conceal your real sumo wallet address even from senders (who typically would need to know your actual address to send currency). Monero also does this. 3) Fungibility aka “Digital Cash” aka Broad Use Case.
“Fungibility” gets thrown about a bunch but basically it means ‘how close is this coin to cash in terms of usage?’ SUMO is one of a few cryptos that can boast true fungibility — it acts just like physical cash i.e. other people can never trace where the money came from or how many coins were transferred. MONERO will never be able to boast this because it did not start as fungible. 4) Mining Made Easy Mode.
Seeing as SUMO was a fork, and not an ICO, they didn’t have to rewrite the wheel. Instead they focused on product by putting together solid fundamentals like a great wallet and a dedicated mining app. Basically anyone can mine with the most intuitive GUI mining app out there. Google “Sumo Easy Miner” – run and mine. 5) Intuitive and Secure Wallet.
This shouldn’t come as a surprise, yet in this day and age, apparently it is not a prereq. They have a GUI wallet plus those unlimited sub-addresses I mentioned above. Here’s the github if you’d like to review: https://github.com/sumoprojects/SumoGUIWallet
The wallet really is one of the best I have seen (ENJIN’s will be better). Clear, intuitive, idiot proof (as possible). 6) Decentralization.
SUMO is botnet-proof, and therefore botnet mining resistant. When a botnet joins a mining pool, it adjusts the mining difficulty, thereby balancing the difficulty level of mining. 7) Coin Emission Scheme.
SUMO’s block reward changes every 6-months as the following “Camel” distribution schema (inspired by real-world mining production like of crude oil, coal, etc. that is often slow at first, then accelerated in before decline and depletion). MONERO lacks this schema and it is significant. Camel ensures that Sumokoin won’t be a short-lived phenomena. Specifically, since Sumo is proof-of-work, not all SUMO can be mined. If it were all mined, miners would no longer be properly incentivized to contribute to the network (unless transaction fees were raised, which is how Bitcoin plans on handling when all 21 million coins have been mined, which will go poorly given that people already complain about fees). A good emission scheme is vital to viability. Compare Camel and Monero’s scheme if you must: https://github.com/sumoprojects/sumokoin/blob/mastescripts/sumokoin_camel_emission_cal.cpp
. 8) Dev Team // Locked Coins // Future Development Funds.
There are lots of things that make this coin a ‘go.’ but perhaps the most overlooked in crypto is that the devs have delivered ahead of schedule. If you’re an engineer or have managed CS projects, you know how difficult hitting projected deadlines can be. These guys update github very frequently and there is a high degree of visibility. The devs have also time-locked their pre-mine in a publicly view-able wallet for years so they aren’t bailing out with a pump and dump. The dev team is based in Japan. 9) Broad Appeal.
If marketed properly, SUMO has the ability to appeal to older individuals venturing into crypto due to the fungibility / similarities to cash. This is not different than XMR, and I expect it will be exploited in 2018 by all privacy coins. It could breed familiarity with new money, and new money is the future of crypto. 10) Absent from Major Exchanges.
Thank god. ALL of my best investments have happened off Binance, Bittrex, Polo, GDAX, etc. Why? Because by the time a coin hits a major exchange you’re already too late. Your TOI is fucked. You’re no longer a savant. SUMO is on Cryptopia, the best jenky exchange. 11) Marketing.
Which brings me to my final point – and it happens to be a weakness. SUMO has not focused on marketing. They’ve instead gathered together tech speaks for itself (or rather doesn’t). So what SUMO needs a community effort to distribute facts about SUMO’s value prop to the masses. A good example is Vert Coin. Their team is very good at disseminating information. I’m not talking about hyping a coin; I’m talking about how effectively can you spread facts about your product to the masses. To get mainstream SUMO needs something like this VertCoin post: https://np.reddit.com/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/ MARKET CAP DISCUSSION
For a coin with using Monero’s tech, 20 million is minuscule. For any coin 20 mil is nothing. Some MC comparisons [as of Jan 2, 2017]:
Let’s talk about market cap (“MC”) for a minute.
- SUMO: 18 million
- ENJIN: 150 million (9x)
- Enigma: 465 million (26x)
- REQ: 500 million (28x)
- POWR: 500 million (28x)
- Monero: 5.8 billion (mental maths iz hard)
It gets tossed around a lot but I don’t think people appreciate how important getting in as early as possible
can be. Say you buy $1000 of SUMO at 20 mil MC. Things go well and 40 million new money gets poured into SUMO. Now the MC = 60 million. Your ROI is 200% (you invested $1,000 and now you have 3,000, netting 2,000).
Now let’s says say you bought at 40 million instead of 20 million. $20 mill gets poured in until the MC again reaches 60 mil. Your ROI is 50% (you put in $1,000, you now have 1,500, netting 500).
Remember: investing at 20 mil MC vs. 40 mil MC represents an EXTREMELY subtle shift in time of investment (“TOI”). But the difference in net profit is dramatic. the biggest factor is that your ROI multiplier is locked in at your TOI — look at the difference in the above example. 200% ROI vs. 50% ROI. That’s huge. But the difference was only 20 mil — that’s 12 hours in the crypto world.
I strongly believe SUMO can and will 25x in Q1 2018 (400m MC) and 50x by Q4 2018 reach. There is ample room for a tricked out Monero clone at 1 bil MC. That’s 50x.
Guess how many coins have 500 mil market caps? 58 as of this writing. 58! Have many of these coins with about ~500 mil MC have you heard of?
DRAGONCHAIN ARE YOU KIDDING ME THE ROLE OF PRIVACY
I want to close with a brief discussion of privacy as it relates to fundamental rights and as to crypto. 2018 will be remembered as the Year of Privacy Coins. Privacy has always been at the core of crypto. This is no coincidence. “Privacy” is the word we have attached to the concept of possessing the freedom to do as you please within the law without explaining yourself to the government or financial institution.
Discussing privacy from a financial perspective is difficult because it has very deep political significance. But that is precisely why it is so valuable.
Privacy is the right of billions of people not to be surveilled. We live in a world where every single transaction you do through the majority financial system is recorded, analyzed and sold — and yet where the money goes is completely opaque. Our transactions are visible from the top, but we can’t see up. Privacy coins turn that upside down.
Privacy is a human right. It is the guarantor of American constitutional freedom. It is the cornerstone of freedoms of expression, association, political speech and all our other freedoms for that matter. And privacy coins are at the root of that freedom. What the internet did for freedom of information, privacy coins will do for freedom of financial transactions. POST SCRIPT: AN ENGINEER’S PERSPECTIVE
Recently a well respected engineer reached out to me and had this to say about SUMO. I thought I’d share.
"I’m messaging you because I came at this from a different perspective. For reference, I started investing in Sumo back when it was around $0.5 per coin. My background is in CS and Computer Engineering. I currently research in CS.
When I was looking for a coin to invest in, I approached it in a completely different way from what you described in your post, I first made a list of coins with market caps < 20m, and then I removed all the coins that didn’t have active communities.
Next, because of my background, I read through the code for each of the remaining coins, and picked the coins which had both frequent commits to GitHub (proving dev activity), and while more subjective, code that was well written. Sumo had both active devs, and (very) well written code.
I could tell that the people behind this knew what they were doing, and so I invested.
I say all of this, because I find it interesting how we seem to have very different strategies for selecting ‘winners’ but yet we both ended up finding Sumo."
THIS POST AND ANY SUBSEQUENT STATEMENTS BY THE AUTHOR DO NOT CONSTITUTE LEGAL OR FINANCIAL ADVICE AND IS NOT INTENDED TO BE LEGAL OR FINANCIAL ADVICE OR RELIED UPON. NO REFERENCES TO THIS POST SHALL BE CONSTRUED AS LEGAL OR FINANCIAL ADVICE. THIS POST REPRESENTS THE LONE OPINION OF A NON-SOPHISTICATED INVESTOR.
https://www.ccn.com/crypto-rollercoaster-explaining-the-recent-market-performance/ submitted by
Just when it appeared that the cryptocurrency market was about to bottom out just a fortnight ago (with Bitcoin reaching a reported
14-month volatility low), the market subsequently started displaying indicators of a directional shift.
Last week however, we saw a short-term appreciation in value. In typical crypto fashion it was just as rapid if not more so than the recent decline and Bitcoin, in particular, was observed
to have exceeded “a key resistance level at $7,000 after breaking out of the $6,800 mark… crucial for the short-term recovery of Bitcoin.”.
Right now however, we are looking at what some mainstream media organisations have described as an ominous price-crash: if not full-blown ‘meltdown’
Causation Between News and Value?
The reasons for the crash – like many before – are likely plenty, such as the theory of market manipulation by wealthy crypto-barons, amongst other interested parties
Just looking at the news recently, we can identify a handful of reported events and moments which might have contributed, coincided with or preceded this rapid deppreciation in value. They include:
- Goldman Sachs’ decision to shelf previously announced plans for opening a Bitcoin trading desk.
- A continued rampancy of international cryptocurrency fraud, theft, and misappropriation.
- Speculative doubt stemming from recent pump-and-dumps which utilize the ‘Bitcoin’ moniker.
- Prophetic warnings from pundits and other luminaries.
Looking at the Market
The large fall in value could be considered either a correction or a short relief. Either way, it is fair to say that if the market were to return to a more positive trajectory: we could expect the collective growth to be reflective year-over-year, exponentially.
Coinschedule (an “ICO listing and cryptocurrency portal”) recorded $3.695 billion
total funds raised in 217 from 209 ICOs. By compairson, the same site records 500% times more investment this year (up until August 2nd, 2018) – with $17.489 billion gathered from 686 ICOs so far.
It is still important to bear in mind the sobering fact that a great number
of ICOs and cryptocurrencies fail
Additional Studies and Observations Cezary Graf
(AKA Crypto Poland
) is a Polish blockchain enthusiast who recently shared a tweet which featured an image which depicted where ‘Bitcoin & The Crypto’ as a collective industry would place in Statista’s list of ‘The 100 largest companies in the world by market value in 2018 (in billions of U.S. dollars)
Graf’s post only provided information from the first page and 10 entries of Statista’s list. This suggests that the total industry value is comparable with the likes of Apple
, and Amazon
(The Big A’s) – whose combined value is over $2471.1 billion.
Veering beyond these pages however and considering cryptocurrency’s overall market value has surpassed $262,5 billion. Comparatively it would fit it closer to 17th place – best resembling the following trio of financial industry giants.
Statista isn’t the only organization to perform and curate in-depth analysis of blockchain and the cryptocurrency investment market.
Back in 2017, PricewaterhouseCoopers (AKA PwC) performed an investigation into the same criteria – entitled ‘Global Top 100 Companies by Market Capitalisation, 31 March 2017 Update
’ with similar results.
The Market Future & ICOs as a ‘Bubble’
Some of the great issues, conversely, plaguing the crypto market include fraudulent and scam ICOs: as well as honest projects which simply offer little to no value to justify their price or existence.
This is in addition to (and arguably supported by) an almost universal lack of effective regulations or standards to prevent such tokens, and has led to some going as far as to call ICOs an ‘investment bubble
If true, the space will prove unsustainable if it continues on its current trajectory: a claim which has been thrown around by those in the industry since at least the end of 2017
. If, however, things continue as they are right now then we are likely to enjoy a profitable end of 2018.
Court of the Crypto Kings
No matter the market status: the value of many a cryptocurrency lies in their viability and practical effectiveness of their end-goals, and means of achieving them. Bitcoin
of course is the original cryptocurrency and has established its value through its integrity (public whitepaper and open-source nature), as well as it’s practical effectiveness and the rate of adoption it has enjoyed upon implementation. Ethereum
is arguably one of the most successful challengers to the BTC throne so far. The project helped to instigate the now-prevalent ‘Blockchain As A Service’ (BaaS
) sector, and offers a platform upon which new utility tokens can be constructed – powered by ‘Ether
’. Lightning Bitcoin
is an example of the new market contenders. One of many which offer a direct and highly competitive alternative to many of the key features associated with Bitcoin. According to their website: ‘LBTC
’s utilitarian value as a tradeable currency is boosted by its speed and low-cost transaction fees.
Looking at New Securities Security Tokens
’ comprise a much newer field, which has been quoted to have contributed to the major crypto-crash back in January 2018. The first of these digital securities contracts were sold in December of the previous year and expired the following month – and thus, correlated with the market drop.
There has been a lot of news
regarding security tokens over the past year, including attempts to either regulate or otherwise ensure a level of safety with regards to risk and fraud prevention, as well as protection of funds. These efforts come from a combination of governments and independent projects and organizations. MOBU
is one of these projects and seeks to utilize a proprietary utility token (the eponymous ERC20 ‘MOBU’) to power its “end-to-end solution for ICOs to launch compliant security tokens on the blockchain.”. Features
of MOBU cited include KYC / AML compliance integration, enforced and maintained through Ethereum based smart-contracts.
This is in addition to what they call the “MOB20 protocol will define a set of commands that a compliant security token should implement.”
Another interesting coincidence is that all this has happened whilst Binance trading was paused. Due to hackers stealing more than $40 million worth of bitcoin, the cryptocurrency exchange was forced to close its doors for a period of time, in which we saw a lot of the bitcoin rally. Binance CEO, Changpeng Zhao, suggested a roll back of the blockchain, an idea that was immediately shut down by ... Stock market drop—coincidence or correlation? Many fingers were pointed at Bakkt and its highly-anticipated Bitcoin futures. The physically settled futures were expected to be a major market mover, which is why their underwhelming launch could have deterred investors from Bitcoin. Ethereum: Any resemblance is pure coincidence for BINANCE ... ... 🤐 I hope you all have a greater appreciation of what were are doing and what we are accomplishing here. Good TA keeps you ahead of the game not by guessing but by reading the signs. In the previous posts, I have been insisting that the green trend line was the right one to follow and so here we are. Even when BTC was throwing signs that it was headed down I kept insisting to keep an eye on this ... Since Binance decided to delist BSV, with CEO Chanpeng CZ Zhao writing very heavy words against project co-founder Craig Wright, a real ongoing struggle between the two began. The hatred between the two seems to be mutual, and also involves the other co-founder of the Bitcoin SV project, Calvin Ayre, who is also the owner of Coingeek.com. [ September 9, 2020 ] Bitcoin Acts Like a Tech Stock and Ethereum Classic Traders Shrug Off 51% Attacks Crypto News [ September 9, 2020 ] Security Firms Warn of Potential DeFi Exit Scam After $2.5M in ‘Locked’ Cryptos Moved Crypto News [ September 9, 2020 ] DCG Enters Retail Crypto Market With Acquisition of Luno Wallet Crypto News CZ Binance About Today’s Crash: Bitcoin is Not Dead. Author: George Georgiev Last Updated Sep 3, 2020 @ 09:47. After starting the month of September around the $12k mark, Bitcoin experienced a sharp correction today that crashed it to lows of nearly $1,160 in a matter of hours, erasing the gains of almost five days. Admittedly, a nervousness during the correction was to be expected as ... Stocks are also going down pretty hard (in terms of stocks) since friday. Was the cryptocurrency crash before the stocks coincidence? I don’t think so. Governments knew that the interest rates are going back up after years being 0 or close to 0. Now the interest rates started going up again and they knew this […] According to Nguyen, “Bitcoin SV is the foundational rule set for an entire network,” and is “re-inventing the internet."
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