The "Experts" Are Getting Crypto All Wrong

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Bitcoin peaked about a month ago, on December 17, at a high of nearly $20,000. As I write, the cryptocurrency is under $11,000… a loss of about 45%. That’s more than $150 billion in lost market cap.

Cue much hand-wringing and gnashing of teeth in the crypto-commentariat. It’s neck-and-neck, but I think the „I-told-you-so“ crowd has the edge over the „excuse-makers.“

Here’s the thing: Unless you just lost your shirt on bitcoin, this doesn’t matter at all. And chances are, the „experts“ you may see in the press aren’t telling you why.

In fact, bitcoin’s crash is wonderful… because it means we can all just stop thinking about cryptocurrencies altogether.

The Death of Bitcoin…

In a year or so, people won’t be talking about bitcoin in the line at the grocery store or on the bus, as they are now. Here’s why.

Bitcoin is the product of justified frustration. Its designer explicitly said the cryptocurrency was a reaction to government abuse of fiat currencies like the dollar or euro. It was supposed to provide an independent, peer-to-peer payment system based on a virtual currency that couldn’t be debased, since there was a finite number of them.

That dream has long since been jettisoned in favor of raw speculation. Ironically, most people care about bitcoin because it seems like an easy way to get more fiat currency! They don’t own it because they want to buy pizzas or gas with it.

Besides being a terrible way to transact electronically – it’s agonizingly slow – bitcoin’s success as a speculative play has made it useless as a currency. Why would anyone spend it if it’s appreciating so fast? Who would accept one when it’s depreciating rapidly?

Bitcoin is also a major source of pollution. It takes 351 kilowatt-hours of electricity just to process one transaction – which also releases 172 kilograms of carbon dioxide into the atmosphere. That’s enough to power one U.S. household for a year. The energy consumed by all bitcoin mining to date could power almost 4 million U.S. households for a year.

Paradoxically, bitcoin’s success as an old-fashioned speculative play – not its envisaged libertarian uses – has attracted government crackdown.

China, South Korea, Germany, Switzerland and France have implemented, or are considering, bans or limitations on bitcoin trading. Several intergovernmental organizations have called for concerted action to rein in the obvious bubble. The U.S. Securities and Exchange Commission, which once seemed likely to approve bitcoin-based financial derivatives, now seems hesitant.

And according to Investing.com: „The European Union is implementing stricter rules to prevent money laundering and terrorism financing on virtual currency platforms. It’s also looking into limits on cryptocurrency trading.“

We may see a functional, widely accepted cryptocurrency someday, but it won’t be bitcoin.

… But a Boost for Crypto Assets

Good. Getting over bitcoin allows us to see where the real value of crypto assets lies. Here’s how.

To use the New York subway system, you need tokens. You can’t use them to buy anything else… although you could sell them to someone who wanted to use the subway more than you.

In fact, if subway tokens were in limited supply, a lively market for them might spring up. They might even trade for a lot more than they originally cost. It all depends on how much people want to use the subway.

That, in a nutshell, is the scenario for the most promising „cryptocurrencies“ other than bitcoin. They’re not money, they’re tokens – „crypto-tokens,“ if you will. They aren’t used as general currency. They are only good within the platform for which they were designed.

If those platforms deliver valuable services, people will want those crypto-tokens, and that will determine their price. In other words, crypto-tokens will have value to the extent that people value the things you can get for them from their associated platform.

That will make them real assets, with intrinsic value – because they can be used to obtain something that people value. That means you can reliably expect a stream of revenue or services from owning such crypto-tokens. Critically, you can measure that stream of future returns against the price of the crypto-token, just as we do when we calculate the price/earnings ratio (P/E) of a stock.

Bitcoin, by contrast, has no intrinsic value. It only has a price – the price set by supply and demand. It can’t produce future streams of revenue, and you can’t measure anything like a P/E ratio for it.

One day it will be worthless because it doesn’t get you anything real.

Ether and Other Crypto Assets Are the Future

The crypto-token ether sure seems like a currency. It’s traded on cryptocurrency exchanges under the code ETH. Its symbol is the Greek uppercase Xi character. It’s mined in a similar (but less energy-intensive) process to bitcoin.

But ether isn’t a currency. Its designers describe it as „a fuel for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations.“

Ether tokens get you access to one of the world’s most sophisticated distributed computational networks. It’s so promising that big companies are falling all over each other to develop practical, real-world uses for it.

Because most people who trade it don’t really understand or care about its true purpose, the price of ether has bubbled and frothed like bitcoin in recent weeks.

But eventually, ether will revert to a stable price based on the demand for the computational services it can „buy“ for people. That price will represent real value that can be priced into the future. There’ll be a futures market for it, and exchange-traded funds (ETFs), because everyone will have a way to assess its underlying value over time. Just as we do with stocks.

What will that value be? I have no idea. But I know it will be a lot more than bitcoin.

My advice: Get rid of your bitcoin, and buy ether at the next dip.

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Crypto TREND 2017-01

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Everyone has heard how Bitcoin and other crypto currencies have made millionaires of those who bought as recently as a year ago. Gains of 1,000% or more are not just possible, they have been common place with many of these crypto currencies. Someone who bought Bitcoin in May 2016 at less than $500, would have had a gain of 1,400% in about 17 months. Then over the past few days, we saw Bitcoin lose almost $1,000, so to say these crypto currencies are volatile would be a massive understatement.

Since the inception of Bitcoin in 2008, we at Trend News have been skeptical of crypto currencies‘ ability to survive, given that they present a very clear threat to governments who want to see and tax all transactions. But while we may still be cautious on the actual crypto currencies, we are very aware of the potential of the underlying technology that powers these electronic currencies. In fact, we believe that this technology will be a significant disruptor in how data is managed, and that it will impact every sector of the global economy, much like how the internet impacted media.

Here are some questions & answers to get us started…

Q: What are Crypto Currencies?

The most well known crypto currency (CC) is BITCOIN. It was the first CC, started in 2008. Today there are more than 800 CC’s, including Ethereum, Litecoin, Dash, Zcash, Ripple, Monero, and they are all „virtual“. There are no „physical“ coins or currency.

Q: How do CC’s work?

CC’s are virtual currencies that exist in very large distributed databases. These databases use BLOCKCHAIN technology. Because each Blockchain database is widely distributed, it is thought to be immune to hacking, as there is no central point of attack and every transaction is visible to everyone on the network. Each CC has a group of administrators, often called „miners“, who validate transactions. One CC called Ethereum uses „smart contracts“ to validate transactions. Crypto TREND will provide more details in upcoming news publications.

Q: What is BLOCKCHAIN?

Blockchain is the technology that underpins all CC’s. Each transaction for the purchase, sale, or exchange of CC’s is entered into a BLOCK that is added to the chain. This technology is complex and will not be explained here, but it has the potential to revolutionize the financial services industry, as transactions can be executed quickly and easily, reducing or eliminating fees. The technology is also being examined for applications in many other industries.

Q: Are CC Exchanges regulated by government?

For the most part, the answer is NO, which, for some users, is a big attractions of this market. It is the „wild west“ right now, but governments in most developed countries are examining this market to decide what regulation may be needed. A big decision is whether to treat CC’s as a currency or a commodity / security. Canada and USA have so far declared that CC’s are legal, however the situation remains fluid as for reporting and tax implications. Crypto TREND will be following and reporting on these developments.

Q: How do I invest in this market?

You can buy, sell, and exchange CC’s using the services of specialized „Exchanges“ that act as a brokerage. You start by selecting an Exchange, setting up an account, and transferring fiat currency into your account. You can then place your BUY and SELL CC orders. There are many exchanges around the world. Opening an account is fairly simple and these exchanges all have their own rules about initial funding and withdrawals.

Crypto TREND will be recommending CC Exchanges in future.

Q: Where do I keep my CC?

To have the freedom to move your crypto currencies around, and to pay bills, you will need to have a digital wallet. These wallets come in several formats, such as desktop, cloud based, hardware (USB), mobile phone, and paper. Many of them are FREE, however, security is a big factor as no one ever wants to lose their wallet or have it stolen. Crypto TREND will be recommending digital wallets in future.

Q: What can I do with my CC?

As well as investing in CC products, you can also use crypto currency for some financial transactions, such as money transfers and paying bills. The list of companies accepting crypto currency is growing fast, and includes big hitters like Microsoft, GAP, JC Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Zynga, Subway, and WordPress.

Q: What’s next?

As we start off, we will keep each of the Crypto TREND articles short and keep the scope of each one as narrow as possible. As we noted earlier, we believe that the crypto currency technology will be a game changer and potential investment opportunities like this come by once or twice in a lifetime. Make no mistake, early investing in this sector will be only for your most speculative capital, money that you can afford to lose.

Even if you are not wanting to invest at this time, gaining an early understanding of this new disruptive technology will put you in an advantageous position to profit from our recommendations as we move forward.

Expect to see more news and specific recommendations from Crypto TREND as we start this journey into what may seem to be a foreign jungle at first. This is a volatile market and may not appeal to all investors, however, Crypto TREND will be your guide if and when you are ready.

Stay Tuned!

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How "Crypto" Currencies Work – A Brief Overview of Bitcoin, Ethereum & Ripple

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"Crypto" – or "crypto conventions" – are a type of software system which provides transactional functionality to users through the Internet. The most important feature of the system is their decentralized nature – typically provided by the blockchain database system.

Blockchain and "crypto conventions" have become major elements to the global zeitgeist recently; typically as a result of the "price" of Bitcoin skyrocketing. This has lead millions of people to participate in the market, with many of the "Bitcoin exchanges" under massive infrastructure stresses as the demand soared.

The most important point to realize about "crypto" is that although it actually serves a purpose (cross-border transactions through the Internet), it does not provide any other financial benefit. In other words, its "intrinsic value" is staunchly limited to the ability to transact with other people; NOT in the storing / dissolving of value (which is what most people see it as).

The most important thing you need to realize is that "Bitcoin" and the like are payment networks – NOT "contracts". This will be covered more deeply in a second; the most important thing to realize is that "getting rich" with BTC is not a case of giving people any better economic standing – it's simply the process of being able to buy the "coins" for a low price and sell them higher.

To this end, when looking at "crypto", you need to first understand how it actually works, and where its "value" really lies …

Decentralized Payment Networks …

As mentioned, the key thing to remember about "Crypto" is that it's predominately a decentralized payment network . Think Visa / Mastercard without the central processing system.

This is important because it highlights the real reason why people have really began looking into the "Bitcoin" proposition more deeply; it gives you the ability to send / receive money from anyone around the world, so long as they have your Bitcoin wallet address.

The reason why this attributes a "price" to the various "coins" is because of the misconception that "Bitcoin" will somehow give you the ability to make money by virtue of being a "crypto" asset. It does not.

The ONLY way that people have been making money with Bitcoin has been due to the "rise" in its price – buying the "coins" for a low price, and selling them for a MUCH higher one. Whilst it worked well for many people, it was actually based off the "greater fool theory" – essentially finding that if you manage to "sell" the coins, it's to a "greater fool" than you.

This means that if you're looking to get involved with the "crypto" space today, you're basically looking at buying any of the "coins" (even "alt" coins) which are cheap (or inexpensive), and riding them price increases until you sell them off later on. Because none of the "coins" are backed by real-world assets, there is no way to estimate when / if / how this will work.

Future Growth

For all intents-and-purposes, "Bitcoin" is a spent force.

The epic rally of December 2017 indicated mass adoption, and whilst its price will likely continue to grow into the $ 20,000 + range, buying one of the coins today will basically be a huge gamble that this will occur.

The smart money is already looking at the majority of "alt" coins (Ethereum / Ripple etc) which have a relatively small price, but are continuously growing in price and adoption. The key thing to look at in the modern "crypto" space is the way in which the various "platform" systems are actually being used.

Such is the fast-paced "technology" space; Ethereum & Ripple are looking like the next "Bitcoin" – with a focus on the way in which they're able to provide users with the ability to actually utilize "decentralized applications" (DApps) on top of their underlining networks to get functionality to work.

This means that if you're looking at the next level of "crypto" growth, it's almost certainly going to come from the various platforms you're able to identify out there.

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The Tech Bargain You’ve Been Waiting For

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Everyone loves a bargain.

We love that feeling of uncovering a hidden gem that everyone else has overlooked. The mispriced vintage Corvette with the small scratch in the quarter panel that you could easily buff out. The big-screen HD TV in the open-box area of your local electronics shop.

You get the picture.

But even your most savvy bargain hunters have nothing on investors looking for „the next big thing.“ In fact, this speculative drive to „get in early“ often leads investors sorely astray.

Their emotions get the better of them, as they inflate what are essentially short-term market trends into major stock-trading drivers.

This leads to unreasonable expectations and equally unreasonable stock prices.

It leads to irrational trading.

One of the best examples of irrational expectations this year is Advanced Micro Devices Inc. (Nasdaq: AMD).

Cryptocurrency Craziness

In July, the stock was riding high on an influx of revenue from the growing cryptocurrency mining market. Ethereum was the „next big thing,“ and investors were speculating heavily with AMD’s value despite signs that this fad wasn’t going to last.

Even Wall Street analysts were guilty of pumping up AMD stock amid the Ethereum fad, with several boosting their ratings and price targets to, honestly, unsustainable levels. AMD stock quickly shot into overbought territory, driven by a fad and a wild surge in emotional investing.

Back then, AMD was due for a correction as „profit-takers emerge, and the more bearish contingent in the brokerage community begins to sound off on valuation concerns and cryptocurrency pitfalls.“

This week, Morgan Stanley did just that. The brokerage firm said that „cryptocurrency mining-driven sales for AMD’s graphics chips will decline by 50% next year, or a $250 million decline in revenue.“ Morgan Stanley also noted that video game console sales would drop by 5.5% in 2018, but that’s a drop in the bucket for AMD, and investors were likely already expecting this given the age of the current generation of consoles.

You could almost hear cryptocurrency speculators‘ hearts break as AMD stock plunged 9% following the report.

The Real AMD

To remember the real reason you should be investing in AMD, we have to look back to 2016. The company caught fire early last year when it previewed several new chips, including its new central processing unit (CPU) chipset, Ryzen, and its new graphics processing unit (GPU), Vega. Both products held considerable promise, and AMD was expecting strong sales once the chips launched.

But both Ryzen and Vega blew analyst expectations out of the water. When they hit the market earlier this year, Ryzen and its sister chip, dubbed Threadripper, not only outperformed competing chips from Intel Corp. (Nasdaq: INTC), they beat them in pricing as well. At the same time, Nvidia Corp. (Nasdaq: NVDA) was touting its Titan Xp GPU as the fastest in the world, but AMD’s top-of-the-line Radeon Vega Frontier Edition GPU quickly stole that title.

As a result, AMD saw its market share in the desktop PC market rise roughly 45% to its highest level of that past 10 years at 31%, while Intel’s fell to 69%. It is also stealing server-side and data center market share from Intel via the increasingly popular Threadripper CPU.

And that is just AMD’s core business operations. When we get to areas like virtual reality, driverless vehicles and artificial intelligence, AMD is already on the cutting edge and poised to be a market leader.

Many of you at this point may be asking: „But what about AMD’s weak earnings report last week?“

And I would counter with: „What weak earnings report?“

Just look at the numbers. AMD earned $71 million last quarter on revenue of $1.64 billion. Not only did this top Wall Street’s expectations, it put last year’s loss of 50 cents per share on revenue of $1.31 billion to shame. What’s more, AMD boosted its full-year revenue growth forecasts from mid- to high-teens to above 20%.

So why did AMD stock plunge roughly 20% after such a stellar report? Because the company said that fourth-quarter earnings would fall 15% sequentially (even though that’s still a 20% increase year-over-year). Once again, it all comes down to an irrational level of bargain hunting, and an excess of emotional trading.

Investing in Advanced Micro Devices

But you are in luck! This emotional storm has left AMD trading at a considerable discount… and quite a bargain given its considerable growth potential – AMD is expected to see sales grow about 17% next year, compared to 12.3% for Nvidia and a measly 2.3% for Intel.

The stock has more than 30% upside through next year. How many other large companies, aside from Alibaba Group Holding Ltd. (NYSE: BABA), can you say that about?

So, ignore the cryptocurrency hype and focus on AMD’s core products and its potential with leading technologies like AI and data centers. I won’t promise you a smooth ride, but it should be quite a profitable one.

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How To Do Cloud Mining Using Genesis Mining

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Practicing mining these times has become an activity that few can maintain, due to the high costs and maintenance of equipment, along with the payment of associated services of electricity and Internet. That is why this practice has been centralized in few places in the world, where electricity costs are low enough to make mining production profitable. From these difficulties arises what is known as Cloud Mining.

Genesis Mining offers legitimate Bitcoin and altcoins mining without hidden charges, in completely transparent transactions, and now they are performing aid conferences to anyone in the Bitcoin community who wants to learn more about the benefits of cryptography.

With Genesis Mining, you can mine ETHER, BTC, LTC, DOGE, DASH, BTCD, UNO and assign mining whenever you want, giving all hash power to bitcoins or diversify power in each coin.

1. The first thing to do is open an account at Genesis Mining, it is free, and you can start your investments whenever you want. In the sidebar on the left, we will find all the necessary functions to have full control of our investments.

2. In this step, we will invest by buying mining power, which is basically to buy space on a server and make it work for us.

From the menu on the left, select the option „Buy mining power“, which will show all the available options to invest. We will not go into detail in each one, as they vary according to the availability of the moment.

In this case, we will buy a Bitcoin contract with indefinite duration. We select the amount to invest from the drop down bar, minimum 30 dollars.

3. Now we will choose the payment form (Credit Card, Bitcoin, Dash, Litecoin, Dogecoin) from the panel on the right.

This part is essential, so we should pay attention. At the top, we can enter a promotional code to benefit from a discount of 3% on the purchase.

4. In this step, we proceed to make the payment with the chosen method, in this case, Bitcoins. You have 30 minutes to do it, or the order gets cancelled.

Below we will see the specifications of the contract, where the most outstanding are the daily maintenance cost and the total BTC we will pay.

Finally, we accept the terms and confirm the order.

5. After a few minutes you can go to „My Orders“, where you can view the purchased mining contract. From the control panel, we can see that we are already mining Bitcoins in the cloud.

Genesis Mining has a fascinating function to distribute the mining power in several cryptocurrencies. For example, with the contract purchased, we can diversify 50% for Bitcoin mining, and the remaining 50% for Litecoin.

You can make all the combinations you can think of to maximise your investment.

Final Considerations:

– Mining is a high-risk business and is highly dependent on the price of the cryptocoins.

– It is an attractive opportunity to diversify in the crypto currencies sector.

– Remember to start with a low amount until you understand how the mining business works.

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What Is Ripple and Why Has Its Value Incremented So Rapidly?

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With a 35, 000% increase in value in 2017 and a market cap of over $ 118 billion, Ripple has become a much-debated topic among analysts and investors alike. But, what is Ripple? Is it like other cryptocurrencies? Why has it been on fire slowly? Continue reading to get answers to these questions.

1. What is Ripple?

Ripple is a payment solutions company, founded by Chris Larsen and Jed McCaleb. Their Ripple Transaction Protocol (RTXP) contains the cryptocurrency XRP. Ripple claims to offer faster, reliable, and affordable transaction solutions for financial institutions. The company has created a hundred billion XRPs and it currently held 61% of the coins. The current plan is to release a billion coins a month.

2. Differences Between Ripple and Bitcoin

Both Bitcoin and Ripple are cryptocurrency that use block-chain technology. But, there is a fundamental difference between the two: unlike Bitcoin, Ripple can not be mined. The currency is not set up as a mineable currency, and its use is fixed to the Ripple network.

Both Bitcoin and Ripple use validating nodes for validating ledgers. Bitcoin has about 10,000 trusted nodes, while Ripple has only five. However, the company plans to add 11 more over the next 18 months. The five validating nodes are controlled by Ripple. XRP has received criticism for the absence of independently trusted validators. The XRP Ledger is available to all, so anyone can download it and become a validator. Many companies run their own nodes on the Ripple network.

3. Reasons for Recent Price Hike of Ripple

The recent price hike of XRP has a lot to do with the currency's expected use by financial institutions and investment by believe-the-hype investors. Ripple has been successful in gaining banks as customers for its other products. Ripple's xCurrent is preferred by financial institutions because it offers real-time communication and quick corrections, thus reducing delays in bank transactions. The company plans on introducing a new product, xRapid, that incorporates XRP. They see the new product as an opportunity to get banks to use XRP. Investors see the potential of the currency as a financial vehicle used by banks worldwide.

Ripple, or more precisely, XRP, is a rising cryptocurrency. It's different from the leading digital currency Bitcoin because its supply is controlled by the founding company. Ripple is banking on banks adopting it in the future. One can speculate that the recent increase in Ripple's value will fuel more debts about its pros and cons.

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Reviews of ICO (Initial Coin Offerings)

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What is the Definition of ICO?

Initial Coin Offering (ICO) is a crowdfunding method used by new cryptocurrency companies to raise capitals. In ICO, some percentages of the newly issued cryptocurrencies are sold to people who are interested in supporting the project. They are sold to exchange for other established cryptocurrencies such as Bitcoin, Fiat and Ether.

Backers purchase the new cryptocurrency with an intention to make a profit when it increases in value. It is similar to the principle of people making a profit when the share they bought at the stock market increases in value. ICO is different than purchasing shares at a stock market because you don’t get a share of the ownership right when you invest in the new tokens.

Brief History on ICOs

In the beginning stage, ICO was conducted by companies such as Mastercoin, Ethereum and Karmacoin. Ethereum conducted one of the biggest ICO in 2014 by raising a total of $18 millions in the early stage of 2014. They break the record by raising 3,700 Bitcoins which is equivalent to $2.3 million dollars within the first 12 hours of the campaign. Kik conducted the first mainstream ICO in September 2017 but the project was interrupted by a phishing scam via the circulation of a false URL in the social media. Ripple sold $1 billion worth of XRP tokens to investors in exchange for bitcoins and fiats in 2013.

Today, ICO sales have become increasingly popular with around 50 token sales being conducted every month. Starting from 2017, ICO has been growing at a fast pace with at least $2 billion worth of token sales successfully conducted. This proves that it is not going to be a temporary method used by new cryptocurrency company to raise funds but it is here to stay for long term.

Nowadays, ICO token sale is so popular that at least a few ICO begins every day. It has been predicted that over $4 billion worth of token sales will be conducted this year. Genesis Vision, a Russian based company, conducted an ICO campaign that runs from the 15th October 2017 to the 15th November 2017. They manage to raise a total of $2.3 million in the token presale.

How Does ICOs Fundraising Work?

A cryptocurrency company that wants to raise capitals through ICO must provide a few details including project description, project purpose, amount need to be raised, percentage of tokens the company will keep, types of virtual currencies accepted, and the timeframe of the ICO campaign. Backers who are interested can email the seller and ask for more details of the project before performing a transaction. If they successfully raise the amount for the campaign, they will carry out the scheme to complete the project. If not, they will return the money back to the backers.

How Scammers Use ICO to Carry Out Fraud?

ICO can be conducted to help raise funds for various types of businesses and charity organization. It has also been used as a tool by scammers to conduct frauds. Scammers would use means to increase the ICO value temporarily and abandon the project afterwards to make a quick profit. Scams happen because of the lack of regulation by the government. Just like any investment, there is a risk when coming to invest in the initial coin offering.

No statistic on the company that runs the ICO is given so it is hard to make a prediction. Backers usually would only check out data such as who will receive the collected money, and the social media profile. To make a successful investment in ICO, one needs to be patient and willing to spend time to conduct research on the company.

Conclusion

In conclusion, ICO has helped many startups to raise the funds they need for their projects. With ICO, startups can easily raise a large amount of money within a short timeframe of just a few seconds or minutes. Entrepreneurs will continue to take advantage of ICO to raise capitals until it comes under government regulation.

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Getting Started With Crypto

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Investing in the Crypto Currency market space can be a little daunting for the traditional investor, as investing directly in Crypto Currency (CC) requires the use of new tools and adopting some new concepts. So if you do decide to dip your toes in this market, you will want to have a very good idea of what to do and what to expect.

Buying and selling CC’s requires you to choose an Exchange that deals in the products you want to buy and sell, be they Bitcoin, Litecoin, or any of the over 1300 other tokens in play. In previous editions we have briefly described the products and services available at a few exchanges, to give you an idea of the different offerings. There are many Exchanges to choose from and they all do things in their own way. Look for the things that matter to you, for example:

– Deposit policies, methods, and costs of each method

– Withdrawal policies and costs

– Which fiat currencies they deal in for deposits and withdrawals

– Products they deal in, such as crypto coins, gold, silver etc

– Costs for transactions

– where is this Exchange based? (USA / UK / South Korea / Japan…)

Be prepared for the Exchange setup procedure to be detailed and lengthy, as the Exchanges generally want to know a lot about you. It is akin to setting up a new bank account, as the Exchanges are brokers of valuables, and they want to be sure that you are who you say you are, and that you are a trustworthy person to deal with. It seems that „trust‘ is earned over time, as the Exchanges typically allow only small investment amounts to begin with.

Your Exchange will keep your CC’s in storage for you. Many offer „cold storage“ which simply means that your coins are kept „offline“ until you indicate that you want to do something with them. There are quite a few news stories of Exchanges being hacked, and many coins stolen. Think about your coins being in something like a bank account at the Exchange, but remember that your coins are digital only, and that all blockchain transactions are irreversible. Unlike your bank, these Exchanges do not have deposit insurance, so be aware that hackers are always out there trying everything they can to get at your Crypto Coins and steal them. Exchanges generally offer Password protected accounts, and many offer 2-factor authorization schemes – something to seriously consider in order to protect your account from hackers.

Given that hackers love to prey on Exchanges and your account, we always recommend that you use a digital wallet for your coins. It is relatively easy to move coins between your Exchange account and your wallet. Be sure to choose a wallet that handles all the coins you want to be buying and selling. Your wallet is also the device you use to „spend“ your coins with the merchants who accept CC’s for payment. The two types of wallets are „hot“ and „cold“. Hot wallets are very easy to use but they leave your coins exposed to the internet, but only on your computer, not the Exchange server. Cold wallets use offline storage mediums, such as specialized hardware memory sticks and simple hard copy printouts. Using a cold wallet makes transactions more complicated, but they are the safest.

Your wallet contains the „private“ key that authorizes all the transactions you want to initiate. You also have a „public“ key that is shared on the network so that all users can identify your account when involved in a transaction with you. When hackers get your private key, they can move your coins anywhere they want, and it is irreversible.

Despite all the challenges and wild volatility, we are confident that the underlying blockchain technology is a game changer, and will revolutionize how transactions are conducted going forward.

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Makler Heidelberg

Immobilienmakler Heidelberg
Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Martin Straith

Benefits of Using Bank Debit Cards Instead of Credit Cards

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Millions of individuals have traditional cards and see them as a convenient way to pay for purchases. In contrast, some people prefer a debit card instead. If you are wondering what is the difference between using a traditional card and a debit card, keep reading.

The main paying difference between using a traditional card and a debit card is that if you do not have enough cash in your account to cover your purchase, a debit card will be returned. However, if you use a credit card and you do not have enough credit, the purchase will likely go through and you'll simply be charged an over the limit fee. So, a debit card is like having money in the bank that you can only use if you can cover it.

In addition, with a bank debit, you do not pay interest but with a traditional card you do. That is, with a traditional card you pay for the convenience of using the card. You pay interest on your purchase and you pay a lot of it. With a debit, there is no interest charged or add-on costs. The charges you pay are very minimal indeed. For instance, you may have to pay an annual fee for maintaining the card if your bank has this policy. Also, if you deposit from other branches, there might be a small fee for inter-branch transactions however the fees are quite limited. With a debit, you can keep track of your expenses better since you do not have to compute interest payments for purchases. Finally, with a debit, you will not increase your debt load when you make a purchase.

As you can see, there are many advantages of having a bank debt instead of a traditional card. Plus, if you buy impulsively, a debit card can help you stay on track and will force you to only purchase what you need.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg
Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Jacqueline Harris

Cloud Mining Contracts – Are They a Good Investment?

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As readers of my blog know, I will only promote products and / or services that I myself use or invest in. I wanted to provide an update to the cloud mining contracts that I recently purchased. Cloud mining works differently than traditional mining in that you do not purchase any hardware to do the mining for you. This means you do not incur large electricity costs associated with owning your own machine. It is all done by others and you are simply buying into a pool. When I started them on May 23rd I was not really too sure what to expect.

Since two weeks have passed I figured I have a good amount of data and info to provide a solid report. The first contract I started was with Hashing24. They only offer Bitcoin mining. The way it works with them is you buy whatever hashing power you want (for more on that see my post "mining"). They have plans that are as low as 100 GH / s and cost as little as $ 18. Because they offer indefinite contracts, you pay a small daily maintenance fee of $ .033 per 100 GH / s.

The upside to Hashing24's model is that once you pay your upfront amount you can theoretically collect daily payments forever. In that manner it is similar to buying an immediate annuity.

In the interest of full disclosure I purchased 4500 GH / s ($ 800). After the daily fees are subtracted and, depending on the value of Bitcoin, I make around $ 7 per day. If we extrapolate that out it would be about $ 210 per month with a break even point of just over four months. That's not too bad an investment because everything after month four would be pure profit. One thing to also keep in mind is that the mining difficulty will increase in the future which will eat into your profits.

On May 25th I decided I wanted to start a contract to mine Ethereum. The Ethereum blockchain technology is being embroced by all the major crypto companies and I actually believe that it will one day pass the value of Bitcoin. It currently about half its size with a market cap of $ 20,505,000,000 compared to Bitcoin's $ 41,888,000,000.

I purchased my Ethereum cloud mining contracts through Hashflare.io. At first I purchased 35MH / s and later to decided to add another 15MH / s. The contracts are for one year. Hashflare also allows you to change the percentage of hash power you want in each pool. If you see one pool performing better, you can put a higher percentage into that one.

The cost for 50MH / s was $ 1,090, but I got more bang for my buck because I paid in Bitcoins and the value of my Bitcoin purchase appreciated. This meant that my Bitcoins went further and, in reality, effectively cost me around $ 900. Let's go conservative and take the higher amount of $ 1,090.

The calculator on their site precedes that at the current price of Ethereum ($ 223) I would make $ 2,358 off my $ 1,090 investment. That kind of return makes it worth the risk to me.

Again, because I am a long term investor in both Bitcoin and Ethereum, I view this as a solid opportunity to diversify your portfolio and at the same time attempt to make some passive income. Keep in mind that cryptocurrency are extremely volatile and that can wildly affect your potential profit. Do your homework first. If you are a long term investor in cryptocurrency, this appears to be a worthy play.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg
Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
Schnell, zuverlässig und kompetent


Source by David Astman

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