Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
Based on projections of mobilego, I'm expecting a decent circulating supply. One to support currency
Well it's almost time for @LegalMoney to give his tax loophole. He said a month
HOLD your Ripple still for June because I have a feeling Cliff High might be wrong about Ripple, like we all said this was a long-term hold. There is the Berlin Conference on June 1st another conference on the 6th on the 9th of June in Europe involving Ripple so hold on to your hats, we might get new money coming into XRP so buy now while it's cheap or hold keep your ear to the news!!! I'll post the rest of them Cliff High Report coin picks yall asked about.
Hope you're not right
You are misunderstanding what he is saying.
Hey breh, you said that you laid down over 100K to buy some XRP.
How were you able to do that without Tier 4 verification?
Or did you buy over a series of weeks?
After reading this, I fell like I need to re-think my position.
Ethereum Classic- The fracturing of the cryptospace at the level of the linguistics for individual coins (meaning ethereum classic versus ETH) produces difficulties not found in the ALTA reports, nor other non-fractured coins in this bare naked Wealth series. That said, the Classic version of Ethereum shows advances in dollar price over the next month as the general 'hyperbolic digital debt based currencies creation' really kicks in to production. Ethereum Classic is still indicated to lag behind the ETH growth both as a rate of percentage, and in volume, but it will be very persistently steady when other alt coins are more volatile. There are several sets indicating that 'profit taking' will cause more of a 'reaction' in pricing within the Classic Ether than in other coins. This may be due to volumes of coins being sold during the profit taking episodes when coupled with its market capitalization.
More from Cliff High's June Report
BitConnect - Specialty coins do show a bit more easily in the data sets as there is usually a specific linguistic hook we can use to extract data on them. BitConnect as a trading coin is one of these due to its focus on 'linux' the operating system. The data sets have the BitConnect as trading coin rising in relative percentage value as it will find that a new niche develops in the 'deep geek' world of 'linux'. This connection is indicated to allow BitConnect to 'port' over to the Internet of Things, and into the 'distributed devices' world of 'miniLinux OS powered smart devices'. There are long term data sets for BitConnect. Note that the claim of 'scam coin' on BitConnect is due to its use, and manipulation by scammers, not any inherent design towards that end, at least as shows up in the data sets. It still shows long term. Not a screaming performer, but does have the legs to survive hyperinflation.
*******If you never heard of Bitconncect check out my Video on it---->
Check out there site: https://bitconnect.co/?ref=elumni
Bytecoin - Bytecoin, as with the other 'privacy coins' in general, is indicated to 'gain favor' at a relative percentage value of the inflows into cryptospace. Additionally, Bytecoin is indicated to be both 'long lasting', and 'special purpose'. This last set has details suggesting that as we move further into the 'hyperbolic debasement of debt currencies' there will be a new 'special case use' for Bytecoin that is forecast to 'add value' to the 'bytecoin ecosphere'. Please note we have some instances of the 'ecosphere' word being repetitious within the supporting sets, so the 'bytecoin special purpose use' is being interpreted as a likely global application. These sets are specifically referencing the 'privacy tech' involved in Bytecoin, so a resurrection of the technology may be an alternative interpretation.
Dash - Dash coin still gains new supporting sets for a 'race' with ETH for 'dollar gains' as we move modelspace through June and into July. The Dash coin sets are indicating that it will 'live up to (its) name' as it 'nearly paces' the forecast rise in ETH. Again, as with other coins in hyperbolic financial ruin period, Dash is showing as doing well, in the run up of 'capitalization movements', however there are also indications of a few 'bumps' that are forecast as creating 'stumbles', though not what may considered to be a 'bad fall'. The linguistics have temporal markers of 'political resignations' (many announced in a single day most likely USA or UK), as being a warning for a 'profit taking run' against Dash. The level of temporal conjunction appears to be about 4/four days. Stated another way, when one reads of multiple, high level, political resignations in a single day, that day shows up in our modelspace as being the beginning of an approximate 4/four day period in which the data forecasts 'sales' of Dash by parties 'attempting to bulk up' in their 'profit taking'. Note that there is no causal correlation to the political resignations, it is just the easiest language to 'hook' this event within modelspace. Data would seem to suggest this is a September, or later event, but our temporal granularity is not predictably reliable with such small data sets, so we may see this earlier or later by some margin.
DecRED- Decred is showing in the data sets as riding the hyperinflationary through June, albeit in a sluggish, and hesitant pattern. The data has Decred being priced higher in US dollars, though more or less, stable to lower in BTC. Data has a scary period for Decred speculators in late July (last week perhaps), or early August.
Dogecoin - Near and dear to everyone's crypto-heart, the Dogecoin data sets forecast it is a continuing companion on our cryptospace exploration of hyperinflation. The Dogecoin sets are forecast that it will have a slightly higher than expected percentage gain from the capital inflows, but also, larger than feared drops in relative price. The data has the price swings within Dogecoin being due to 'big players' who will 'drop in', then 'exit for profits', with the expected downturn from 'sloppy selling'.
Gnosis - Traded as GNO, the Gnosis coin is actually a token used within an application on top of the Ethereum network. Using the Ethereum network, the Gnosis application is seen within the data sets as a prediction market with money involved, but not within the same emotional categories as either 'betting', or 'casino'. The data sets are presenting linguistic structures with disparate themes. The data sets for Gnosis as a token have it being both 'overlooked' and 'less understood', though this should not be taken as a reason to avoid speculation as the data sets have at least two separate in time episodes of 'faddish' behavior in 'buying gnosis' showing up as modelspace is progressed through the next 12 or so months.
Komodo- Traded as KMD coin, the Komodo coin shows in the data due to associated linguistics to its name. Recent ICO action has led to the burst of data within modelspace at this time. There are indications in the data of a rapid growth phase for the Komodo in Summer (northern hemisphere), but with a precipitous crash in Fall as the worst of the hyperinflation volatility sweeps through the various 'capital markets'. The crash language for Komodo does not show from a lack of value placement, but rather from the 'emotional turmoil' in markets as the global dollar currency crisis comes to yet another inflection point. There are sets within Komodo as a coin that have links to the IoT sets, cross links over to 'trading platforms', and the 'linux OS' that show up as having longer legs than may be expected. A thin data layer on Komodo would suggest that the crash levels will NOT reach down lower than pricing a few weeks earlier. No numbers within our data for this period.
Monero - The data for the 'monero coin' continues to come in as 'growing' due to its 'privacy component'. The grow rates are indicated to be 'steady', and 'stable' over time such that 'Monero' is described in the data sets as a 'reflection' of the 'larger aggregated (primary mined) cryptospace'. In other words, just to muddy the thinking, the data sets would have us see Monero as a form of 'proxy' for the 'cryptospace markets' as a whole, in so far as, the 'steady, stable percentage of growth' relative to the capitalization in flows in general. So, to state that more precisely, the data has the percentage of Monero growth in USD over time to be a 'relative bench mark'. Thus the other language around Monero as the 'steady grower', the 'dividend payer', the 'perpetual earner', in our data rendition of 'traderspeak'. The linguistics for Monero would have an interpretation be that if you took the top twenty crypto currencies, and averaged them for your time period, you would find Monero at, or near that number. A good, steady crypto vehicle would be an accurate description from our data sets.
Zcoin - Coming in as a 'privacy coin', the Zcoin sets have it as a steady, growing trading vehicle, rather than a 'rush and flush' coin reacting merely to hyperinflation. The Zcoin aspect on privacy, or something close it at a linguistic level is indicted to become an 'industry approach' to 'abstracting privacy'. A likely better longer term hold, than shorter term vehicle.
ZCash -The Zcash coin is indicated to be one of the more volatile of the cryptospace offerings. Not due to inherent flaws within the architecture (now that recent patches have been made against 'aggressive' transactions), but rather due to various 'trading groups' and 'trading cohorts' who will 'over time' and 'sporadically' come to 'discover' the coin. Thus the data forecasts big rises, significant sell offs occasionally, and then quick recovery. From a trading perspective, 2017, and likely 2018 will be good years to get into and out of Zcash coin periodically as the forecast is that it will 'outpace' the percentage growth for Bitcoin (our metric) in 'spurts'. There are a number of sets for Zcash prices in USD rising fast enough to have its 'relative position' within market capitalization scales change over the course of this Summer. Much of this language is also tied to the hyperinflation sets.
**Non mined coins What follows is a discussion on the non mined alt coins. These coins are created, or pre-mined, tokens, or other structured trading vehicles, and thus are exactly the same in potential abuse as the paper, debt based, sovereign currencies. Repeated for clarity, these crypto coins are created, or owned by a single issuer, and as such are as reliable as that issuer, and no further. This is not to say that these offerings are all bad, and many, even the bad ones, will still be effective vehicles for speculation.****
GameCredits - Neither a coin, nor a token, GameCredits is best described as a 'business model'. The business model is offering solutions to their perception of a problem of payments within the gaming world. This business model is being expressed as a 'trading token', or 'coin' rather than shares, or stock. There is a great deal in our data sets about the convergence of the 'gaming world', and the 'crypto currencies world' beginning in 2017. It is necessary to note that GameCredits is NOT linguistically related to that previous forecast. There are no sets in the data for GameCredits.
Golem- The Golem 'coin' is a network access token and is not mined. Traded as GNT, the data sets have it being perhaps far too close to its namesake, the 'golem', and thus not able to really achieve differentiation. The data sets have forecasts for far less relative performance from GNT in our shorter term sets, and almost no longer term sets showing. Inference from the spare data, and incomplete sets, within modelspace for GNT, that growth will be sparse, episodic, and small.
Ripple - Ripple, as a crypto currency, has new data sets showing that a 'big fall', or 'big exit', or 'big crash' is going to 'commence' in June or July. The 'commence' word is explicitly chosen as we have the many 'prominent speakers' at 'commencement ceremonies' being a proximate temporal marker for the 'beginning leg down' for Ripple as XRP. So note that there are not specific days forecast here, but rather the proximate of the XRP down leg to the 'commencement season'. The data sets have sets that are forecasting a down leg that will, over time....let me repeat...over time, take XRP back to the stage of 'questionable' in the meaning of 'does the market care for it?'. The data sets have the XRP prices being framed in 'jittery language' as was previously forecast now moving into 'worried' language as the general events of Summer at a financial level put additional pressures on CryptoSpace, and Ripple specifically, due to the 'bank connections'. The data would seem to be suggesting that XRP will encounter its largest, prolonged period of difficulties as the word 'hyperinflation' begins to become more 'mainstream' in its manifestation. Other linguistic temporal markers for yet more unfavorable words for XRP include the forecast problems within the 'regional banking sector' across the USA. As these 'regional banks' become the subject of 'rumored problems' at a national level, the data is forecasting additional pressures on XRP. Other linguistic temporal markers include 'contention' within the 'ripple organization'. The data would have the 'rumors of contention' being more important to traders in XRP than any substance that is forecast to appear later in response to 'community concerns being expressed openly'. As modelspace is progressed through June and into July there are sets indicating very large levels of emotional turmoil associated with the XRP coin, and the 'Ripple enterprise'. These sets are suggesting that some people will be using language such as “I got out before the problems.” To be clear the 'problems' sets are filling around the words of and for 'contention'. So when internal Ripple personality dynamics begin to be intrusive and there is obvious 'conflict', that is what the data is referencing. There are a number of sets for people also claiming to be 'Ripple wealthy'. These sets have a dual context that should not be ignored. In the first appearing, shortest lasting context, 'ripple wealthy' means just that, 'having a profitable ripple ownership experience'. In the second appearing, much longer lasting context, the term 'ripple wealthy' will come to mean something similar to 'zimbabwe millionaire' implying 'lots of irredeemable asset'.
PepeCash - Perhaps the oddest of any alt coin, the non mined, 'image repository?-kind-of-thing-with-a-scarcityhook', that is PepeCash continues to show favorably in the data sets. The whole 'non rational' rationale for PepeCash are 'rare pepe images'. No rational reason for this, no explanations offered. Pure speculation. Does do well in hyperinflation, in spite of every reason to merely 'croak'. LOL...no seriously I could not help myself, but the data does show PepeCoin with 'nice', and 'happy' emotional qualifiers for a number of months.
Stellar Lumens - A 'version two' of the Ripple concept as far as the data sets are concerned. Not much to say about this cryptospace offering as it has very few long term data sets associated with it, the inference being it will not survive the hyperinflationary period we are now entering. There are suggestions it will advance somewhat relative to its old price, but not against other cryptos as a relative percentage. Other sets have the Stellar coin running into 'technical walls' that will be thinning participation levels and putting strains on the system. These are indicated to appear as a bout of 'profit taking' will lead to 'excessive dumping', or rather, 'competitive dumping' of the coin.
Steem - Steem is a multiple layer 'coin' that is defined as a 'coin' within a 'social media'. The platform is as any other social media, lacking censorship, however the 'coin' component is less than robust. The Steem coin has limitations due to the required 'popularity' component to advancing within the 'Steem system'. The 'popularity' aspect, and multiple 'tiers' within the system in order to 'cash out' Steem coins place the 'Steem coin' more in the social, or brand token market, rather than mined coins backed by blockchain processing. The Steem coin is indicated to be very cyclic, that is to say, it will 'react' to 'waves' of 'discovery' by various groups, large and small. As these new groups try the Steem platform, they will boost the perceived value of the Steem coin, albeit, very briefly. There are no supporting numbers for Steem as a coin within the data, nor are there many references in the longer term sets for Steem as a crypto currency as 'we know it today'. The platform of Steem does have longer term values associated with it, however, as noted above, there are apparently a few growth pains to be encountered.
BitConnect - Specialty coins do show a bit more easily in the data sets as there is usually a specific linguistic hook we can use to extract data on them. BitConnect as a trading coin is one of these due to its focus on 'linux' the operating system. The data sets have the BitConnect as trading coin rising in relative percentage value as it will find that a new niche develops in the 'deep geek' world of 'linux'. This connection is indicated to allow BitConnect to 'port' over to the Internet of Things, and into the 'distributed devices' world of 'miniLinux OS powered smart devices'. There are long term data sets for BitConnect. Note that the claim of 'scam coin' on BitConnect is due to its use, and manipulation by scammers, not any inherent design towards that end, at least as shows up in the data sets. It still shows long term. Not a screaming performer, but does have the legs to survive hyperinflation.
*******If you never heard of Bitconncect check out my Video on it---->
Check out there site: https://bitconnect.co/?ref=elumni
Bytecoin - Bytecoin, as with the other 'privacy coins' in general, is indicated to 'gain favor' at a relative percentage value of the inflows into cryptospace. Additionally, Bytecoin is indicated to be both 'long lasting', and 'special purpose'. This last set has details suggesting that as we move further into the 'hyperbolic debasement of debt currencies' there will be a new 'special case use' for Bytecoin that is forecast to 'add value' to the 'bytecoin ecosphere'. Please note we have some instances of the 'ecosphere' word being repetitious within the supporting sets, so the 'bytecoin special purpose use' is being interpreted as a likely global application. These sets are specifically referencing the 'privacy tech' involved in Bytecoin, so a resurrection of the technology may be an alternative interpretation.
Dash - Dash coin still gains new supporting sets for a 'race' with ETH for 'dollar gains' as we move modelspace through June and into July. The Dash coin sets are indicating that it will 'live up to (its) name' as it 'nearly paces' the forecast rise in ETH. Again, as with other coins in hyperbolic financial ruin period, Dash is showing as doing well, in the run up of 'capitalization movements', however there are also indications of a few 'bumps' that are forecast as creating 'stumbles', though not what may considered to be a 'bad fall'. The linguistics have temporal markers of 'political resignations' (many announced in a single day most likely USA or UK), as being a warning for a 'profit taking run' against Dash. The level of temporal conjunction appears to be about 4/four days. Stated another way, when one reads of multiple, high level, political resignations in a single day, that day shows up in our modelspace as being the beginning of an approximate 4/four day period in which the data forecasts 'sales' of Dash by parties 'attempting to bulk up' in their 'profit taking'. Note that there is no causal correlation to the political resignations, it is just the easiest language to 'hook' this event within modelspace. Data would seem to suggest this is a September, or later event, but our temporal granularity is not predictably reliable with such small data sets, so we may see this earlier or later by some margin.
DecRED- Decred is showing in the data sets as riding the hyperinflationary through June, albeit in a sluggish, and hesitant pattern. The data has Decred being priced higher in US dollars, though more or less, stable to lower in BTC. Data has a scary period for Decred speculators in late July (last week perhaps), or early August.
Dogecoin - Near and dear to everyone's crypto-heart, the Dogecoin data sets forecast it is a continuing companion on our cryptospace exploration of hyperinflation. The Dogecoin sets are forecast that it will have a slightly higher than expected percentage gain from the capital inflows, but also, larger than feared drops in relative price. The data has the price swings within Dogecoin being due to 'big players' who will 'drop in', then 'exit for profits', with the expected downturn from 'sloppy selling'.
Gnosis - Traded as GNO, the Gnosis coin is actually a token used within an application on top of the Ethereum network. Using the Ethereum network, the Gnosis application is seen within the data sets as a prediction market with money involved, but not within the same emotional categories as either 'betting', or 'casino'. The data sets are presenting linguistic structures with disparate themes. The data sets for Gnosis as a token have it being both 'overlooked' and 'less understood', though this should not be taken as a reason to avoid speculation as the data sets have at least two separate in time episodes of 'faddish' behavior in 'buying gnosis' showing up as modelspace is progressed through the next 12 or so months.
Komodo- Traded as KMD coin, the Komodo coin shows in the data due to associated linguistics to its name. Recent ICO action has led to the burst of data within modelspace at this time. There are indications in the data of a rapid growth phase for the Komodo in Summer (northern hemisphere), but with a precipitous crash in Fall as the worst of the hyperinflation volatility sweeps through the various 'capital markets'. The crash language for Komodo does not show from a lack of value placement, but rather from the 'emotional turmoil' in markets as the global dollar currency crisis comes to yet another inflection point. There are sets within Komodo as a coin that have links to the IoT sets, cross links over to 'trading platforms', and the 'linux OS' that show up as having longer legs than may be expected. A thin data layer on Komodo would suggest that the crash levels will NOT reach down lower than pricing a few weeks earlier. No numbers within our data for this period.
Monero - The data for the 'monero coin' continues to come in as 'growing' due to its 'privacy component'. The grow rates are indicated to be 'steady', and 'stable' over time such that 'Monero' is described in the data sets as a 'reflection' of the 'larger aggregated (primary mined) cryptospace'. In other words, just to muddy the thinking, the data sets would have us see Monero as a form of 'proxy' for the 'cryptospace markets' as a whole, in so far as, the 'steady, stable percentage of growth' relative to the capitalization in flows in general. So, to state that more precisely, the data has the percentage of Monero growth in USD over time to be a 'relative bench mark'. Thus the other language around Monero as the 'steady grower', the 'dividend payer', the 'perpetual earner', in our data rendition of 'traderspeak'. The linguistics for Monero would have an interpretation be that if you took the top twenty crypto currencies, and averaged them for your time period, you would find Monero at, or near that number. A good, steady crypto vehicle would be an accurate description from our data sets.
Zcoin - Coming in as a 'privacy coin', the Zcoin sets have it as a steady, growing trading vehicle, rather than a 'rush and flush' coin reacting merely to hyperinflation. The Zcoin aspect on privacy, or something close it at a linguistic level is indicted to become an 'industry approach' to 'abstracting privacy'. A likely better longer term hold, than shorter term vehicle.
ZCash -The Zcash coin is indicated to be one of the more volatile of the cryptospace offerings. Not due to inherent flaws within the architecture (now that recent patches have been made against 'aggressive' transactions), but rather due to various 'trading groups' and 'trading cohorts' who will 'over time' and 'sporadically' come to 'discover' the coin. Thus the data forecasts big rises, significant sell offs occasionally, and then quick recovery. From a trading perspective, 2017, and likely 2018 will be good years to get into and out of Zcash coin periodically as the forecast is that it will 'outpace' the percentage growth for Bitcoin (our metric) in 'spurts'. There are a number of sets for Zcash prices in USD rising fast enough to have its 'relative position' within market capitalization scales change over the course of this Summer. Much of this language is also tied to the hyperinflation sets.
**Non mined coins What follows is a discussion on the non mined alt coins. These coins are created, or pre-mined, tokens, or other structured trading vehicles, and thus are exactly the same in potential abuse as the paper, debt based, sovereign currencies. Repeated for clarity, these crypto coins are created, or owned by a single issuer, and as such are as reliable as that issuer, and no further. This is not to say that these offerings are all bad, and many, even the bad ones, will still be effective vehicles for speculation.****
GameCredits - Neither a coin, nor a token, GameCredits is best described as a 'business model'. The business model is offering solutions to their perception of a problem of payments within the gaming world. This business model is being expressed as a 'trading token', or 'coin' rather than shares, or stock. There is a great deal in our data sets about the convergence of the 'gaming world', and the 'crypto currencies world' beginning in 2017. It is necessary to note that GameCredits is NOT linguistically related to that previous forecast. There are no sets in the data for GameCredits.
Golem- The Golem 'coin' is a network access token and is not mined. Traded as GNT, the data sets have it being perhaps far too close to its namesake, the 'golem', and thus not able to really achieve differentiation. The data sets have forecasts for far less relative performance from GNT in our shorter term sets, and almost no longer term sets showing. Inference from the spare data, and incomplete sets, within modelspace for GNT, that growth will be sparse, episodic, and small.
Ripple - Ripple, as a crypto currency, has new data sets showing that a 'big fall', or 'big exit', or 'big crash' is going to 'commence' in June or July. The 'commence' word is explicitly chosen as we have the many 'prominent speakers' at 'commencement ceremonies' being a proximate temporal marker for the 'beginning leg down' for Ripple as XRP. So note that there are not specific days forecast here, but rather the proximate of the XRP down leg to the 'commencement season'. The data sets have sets that are forecasting a down leg that will, over time....let me repeat...over time, take XRP back to the stage of 'questionable' in the meaning of 'does the market care for it?'. The data sets have the XRP prices being framed in 'jittery language' as was previously forecast now moving into 'worried' language as the general events of Summer at a financial level put additional pressures on CryptoSpace, and Ripple specifically, due to the 'bank connections'. The data would seem to be suggesting that XRP will encounter its largest, prolonged period of difficulties as the word 'hyperinflation' begins to become more 'mainstream' in its manifestation. Other linguistic temporal markers for yet more unfavorable words for XRP include the forecast problems within the 'regional banking sector' across the USA. As these 'regional banks' become the subject of 'rumored problems' at a national level, the data is forecasting additional pressures on XRP. Other linguistic temporal markers include 'contention' within the 'ripple organization'. The data would have the 'rumors of contention' being more important to traders in XRP than any substance that is forecast to appear later in response to 'community concerns being expressed openly'. As modelspace is progressed through June and into July there are sets indicating very large levels of emotional turmoil associated with the XRP coin, and the 'Ripple enterprise'. These sets are suggesting that some people will be using language such as “I got out before the problems.” To be clear the 'problems' sets are filling around the words of and for 'contention'. So when internal Ripple personality dynamics begin to be intrusive and there is obvious 'conflict', that is what the data is referencing. There are a number of sets for people also claiming to be 'Ripple wealthy'. These sets have a dual context that should not be ignored. In the first appearing, shortest lasting context, 'ripple wealthy' means just that, 'having a profitable ripple ownership experience'. In the second appearing, much longer lasting context, the term 'ripple wealthy' will come to mean something similar to 'zimbabwe millionaire' implying 'lots of irredeemable asset'.
PepeCash - Perhaps the oddest of any alt coin, the non mined, 'image repository?-kind-of-thing-with-a-scarcityhook', that is PepeCash continues to show favorably in the data sets. The whole 'non rational' rationale for PepeCash are 'rare pepe images'. No rational reason for this, no explanations offered. Pure speculation. Does do well in hyperinflation, in spite of every reason to merely 'croak'. LOL...no seriously I could not help myself, but the data does show PepeCoin with 'nice', and 'happy' emotional qualifiers for a number of months.
Stellar Lumens - A 'version two' of the Ripple concept as far as the data sets are concerned. Not much to say about this cryptospace offering as it has very few long term data sets associated with it, the inference being it will not survive the hyperinflationary period we are now entering. There are suggestions it will advance somewhat relative to its old price, but not against other cryptos as a relative percentage. Other sets have the Stellar coin running into 'technical walls' that will be thinning participation levels and putting strains on the system. These are indicated to appear as a bout of 'profit taking' will lead to 'excessive dumping', or rather, 'competitive dumping' of the coin.
Steem - Steem is a multiple layer 'coin' that is defined as a 'coin' within a 'social media'. The platform is as any other social media, lacking censorship, however the 'coin' component is less than robust. The Steem coin has limitations due to the required 'popularity' component to advancing within the 'Steem system'. The 'popularity' aspect, and multiple 'tiers' within the system in order to 'cash out' Steem coins place the 'Steem coin' more in the social, or brand token market, rather than mined coins backed by blockchain processing. The Steem coin is indicated to be very cyclic, that is to say, it will 'react' to 'waves' of 'discovery' by various groups, large and small. As these new groups try the Steem platform, they will boost the perceived value of the Steem coin, albeit, very briefly. There are no supporting numbers for Steem as a coin within the data, nor are there many references in the longer term sets for Steem as a crypto currency as 'we know it today'. The platform of Steem does have longer term values associated with it, however, as noted above, there are apparently a few growth pains to be encountered.
I do have a tier 4 verification. Before that, I use to wire 10-25k at a time
Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies. The currencies inspired by Bitcoin are collectively called altcoins and have tried to present themselves as modified or improved versions of Bitcoin. While some of these currencies are easier to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over 700 (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)
1) Litecoin (LTC)
Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.
2) Ethereum (ETH)
Launched in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $4.46 billion, second after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)
3) Zcash (ZEC)
Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https," is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which allow for content to be encrypted using advanced cryptographic technique or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)
4) Dash
Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an increasing fan following in a short span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn't change any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)
5) Ripple (XRP)
Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to settle cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger -- its method of conformation -- doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn't require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus currently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who offer tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”
6) Monero (XMR)
Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April 2014 and soon spiked great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. Monero has been launched with a strong focus on decentralization and scalability, and enables complete privacy by using a special technique called ‘ring signatures.’ With this technique, there appears a group of cryptographic signatures including at least one real participant – but since they all appear valid, the real one cannot be isolated.
The Bottom Line
Bitcoin continues to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be revealed with time.
Read more: The 6 Most Important Cryptocurrencies Other Than Bitcoin | Investopedia http://www.investopedia.com/tech/6-most-important-cryptocurrencies-other-bitcoin/#ixzz4iRXs6MUC
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1) Litecoin (LTC)
Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.
2) Ethereum (ETH)
Launched in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $4.46 billion, second after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)
3) Zcash (ZEC)
Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https," is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which allow for content to be encrypted using advanced cryptographic technique or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)
4) Dash
Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an increasing fan following in a short span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn't change any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)
5) Ripple (XRP)
Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to settle cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger -- its method of conformation -- doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn't require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus currently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who offer tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”
6) Monero (XMR)
Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April 2014 and soon spiked great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. Monero has been launched with a strong focus on decentralization and scalability, and enables complete privacy by using a special technique called ‘ring signatures.’ With this technique, there appears a group of cryptographic signatures including at least one real participant – but since they all appear valid, the real one cannot be isolated.
The Bottom Line
Bitcoin continues to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be revealed with time.
Read more: The 6 Most Important Cryptocurrencies Other Than Bitcoin | Investopedia http://www.investopedia.com/tech/6-most-important-cryptocurrencies-other-bitcoin/#ixzz4iRXs6MUC
Follow us: Investopedia on Facebook
A "loophole" is just creative tax structuring to establish an economic advantage using existing tax laws.
Someone posted a very intensive Bitcoin tax analysis that answers must of the tax implications, however my analysis discusses hypotheticals when exiting the market.
For example, could the IRS ever validate a claim of Bitcoin wallet theft or forgetting a Private key?
If you have $1MM in Bitcoin on a Nano Ledger and it was stolen by a theft, you would have to file a police report, then to claim the loss as an itemized deduction if its nonbusiness related.
But...what if you lost your private key and can't remember for the life of you? Would that count as a deductible loss? And if it did... How could the IRS monitor that Bitcoin address? What if the wallet uses a nlocktime transaction to send value to another address 365 days later? And what if the recipient address isn't linked to the taxpayer at all?
Interesting shit going on.
interesting indeed...
Billion-Dollar Messaging App Kik to Launch Ethereum-Based Cryptocurrency
Lester Coleman on 29/05/2017
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Kik Interactive, the creator of the Kik social media platform, plans to launch a cryptocurrency on the Ethereum blockchain called Kin to allow people to use a wide range of digital services, the company announced. The Kik chat platform is free and is used mainly by teenagers.
Ted Livingston, Kik founder and CEO, told Reuters Kik will be the first social media app to have its own currency for public sale. He said an ICO will be held some time this year, in which 10% of the tokens will be sold.
The company has released a white paper describing its ecosystem of digital services.
Open Ecosystem Of Digital Services
“Kik believes that Kin can bring together a broad group of participants to create an open ecosystem of digital services that prioritizes consumer experience and choice,” Livingston said in a prepared statement. “As a leader in the chat space, we want to bring a fair and sustainable model for digital services to the market and fuel an alternative ecosystem for communications, information and commerce.”
He said a cryptocurrency opens opportunities for digital services that is both open and better.
Four Steps Ahead
Kik will create the cryptocurrency following four steps:
1) It will create Kin on Ethereum. Kin will be deployed as an ER20 token and serve as the basis for interoperability with other Kin digital services.
2) Integrate Kin with Kik. Kin will be the transaction currency within the Kik app.
3) Develop a Kin rewards engine to promote Kin as a currency. Kin will be distributed to stakeholders using an algorithm to reflect each party’s contribution to the ecosystem. Such a structure will build an incentive for other digital services to partner with Kin. The reward engine will be built on smart contract technology. Kik’s daily rewards will begin around $100,000, to be split among the service’s owners, Livingston said.
4) Establish a Kin Foundation. The non-profit will support an ecosystem of digital services for consumers, and a platform that will allow developers to find ways to monetize those services. Kik will open source all of its server code.
Digital services like social media platforms and chat apps have become monopolized by a small number of companies, making it hard for smaller players to compete, he said.
Also read: Do increased social media mentions boost price gains in social crypto-assets?
Platform To Connect Digital Services
The token will facilitate a variety of services, first within the Kin platform and expand to other digital services.
Being integrated to Kik, Kin will become the most used cryptocurrency, thanks to its millions of monthly users, Livingston said. Bloomberg reported that Kik has revealed 15 million users its app monthly, which is a far cry from the 300 million registered users it claims to have.
Kik has been popular among teenagers since it does not require users to have a phone number. Kik has already raised about $120 million from investors, including Tencent Holdings Ltd., according to Bloomberg.
Lester Coleman on 29/05/2017
TwitterLinkedinFacebookRedditWeibo
Kik Interactive, the creator of the Kik social media platform, plans to launch a cryptocurrency on the Ethereum blockchain called Kin to allow people to use a wide range of digital services, the company announced. The Kik chat platform is free and is used mainly by teenagers.
Ted Livingston, Kik founder and CEO, told Reuters Kik will be the first social media app to have its own currency for public sale. He said an ICO will be held some time this year, in which 10% of the tokens will be sold.
The company has released a white paper describing its ecosystem of digital services.
Open Ecosystem Of Digital Services
“Kik believes that Kin can bring together a broad group of participants to create an open ecosystem of digital services that prioritizes consumer experience and choice,” Livingston said in a prepared statement. “As a leader in the chat space, we want to bring a fair and sustainable model for digital services to the market and fuel an alternative ecosystem for communications, information and commerce.”
He said a cryptocurrency opens opportunities for digital services that is both open and better.
Four Steps Ahead
Kik will create the cryptocurrency following four steps:
1) It will create Kin on Ethereum. Kin will be deployed as an ER20 token and serve as the basis for interoperability with other Kin digital services.
2) Integrate Kin with Kik. Kin will be the transaction currency within the Kik app.
3) Develop a Kin rewards engine to promote Kin as a currency. Kin will be distributed to stakeholders using an algorithm to reflect each party’s contribution to the ecosystem. Such a structure will build an incentive for other digital services to partner with Kin. The reward engine will be built on smart contract technology. Kik’s daily rewards will begin around $100,000, to be split among the service’s owners, Livingston said.
4) Establish a Kin Foundation. The non-profit will support an ecosystem of digital services for consumers, and a platform that will allow developers to find ways to monetize those services. Kik will open source all of its server code.
Digital services like social media platforms and chat apps have become monopolized by a small number of companies, making it hard for smaller players to compete, he said.
Also read: Do increased social media mentions boost price gains in social crypto-assets?
Platform To Connect Digital Services
The token will facilitate a variety of services, first within the Kin platform and expand to other digital services.
Being integrated to Kik, Kin will become the most used cryptocurrency, thanks to its millions of monthly users, Livingston said. Bloomberg reported that Kik has revealed 15 million users its app monthly, which is a far cry from the 300 million registered users it claims to have.
Kik has been popular among teenagers since it does not require users to have a phone number. Kik has already raised about $120 million from investors, including Tencent Holdings Ltd., according to Bloomberg.
I'm interested in how much money can I deposit into my account without having to report it to the IRS?
For example, if I have 5 different checking accounts at 5 different banks and I made multiple deposits of <$10,000 over a period of time, what is the likelihood either bank would alert the IRS?
so according to this report bytecoin is legit?
thought it was another dogecoin only used for pump n dumps
I'll tell you this much: if you make a deposit over $10,000 the bank has to report the transaction to the IRS, however, if you make "several" deposits under $10k with the intent to evade the reporting requirement, you will get audited and the IRS will freeze your accounts.
The issue here isn't the amount or frequency of cash deposits that crypto investors should be aware of, its whether there is enough forensic evidence to tie you to your electronic assets.
If the IRS even begins to think you're hiding assets you're done.
Cool. Thats what I figured lol.
So would it be safe to say if I do that shit one time in each account say $7000 a piece I'll be able to skate under the radar?
Also what if I used a shift card spending $1000/day, not tied to my bank account, not tied to a tax document. Would that even draw suspicion?
yea i decided that LONG AGO
fuck that get the tier verification and when it's time to move just MOVE ALL OF IT
im more than happy to take a 30% hit on a 1000% ROI
That's why I got the Shift card. Cause if you use it regular, for regular purchases coinbase is just like another bank account basically.
no different than people who use their paypal card.
One time large deposits under $10k likely won't result in a review.
However you're asking whether the IRS would find your transactions and the answer is IF they have a reason to look at your accounts then they'll find it all.
For instance: everyone signed up for Coinbase and coinbase required you to use either a credit card or bank deposit to fund your accounts. That's all the forensics needed on one end.
If you have a Shift card through Coinbase and you don't report your taxable Bitcoin profits, there is no statute of limitations for fraud and the IRS has already issued John Doe subpoenas for every Coin base account in the past and will do it again. If you pop up and you didnt report you're done.
The best practice is to report SOMETHING. Verifying what you report is one thing, a low level auditor will do that and you'll likely stay ahead. However if you fail to report that's tax evasion and the DOJ don't play.
Right now the only clear way to stay off the IRS radar is to keep your crypto assets in digital form or use localbitcoins to sell them.
However the government is already doing localbitcoin busts just like they use to do with Backpage .
The moment you convert to fiat you're playing with volcanic fire unless you report something.
However the government is already doing localbitcoin busts just like they use to do with Backpage .
The moment you convert to fiat you're playing with volcanic fire unless you report something.
Shit gave me a fucking headache. So basically coinbase every year you withdraw will send you a 1040 or you have to manually?
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Yeah gonna need to purchase everything with bitcoin not fiat. I need amazon to start accepting bitcoin and I am good to go. But honestly if this was stocks we were talking about nobody would try to get around paying these taxes.
So this only refers to withdraws right? Cause I have Bitcoin but I don't plan on selling it for at least 7 years.
http://www.potcoin.com/news/
I think this one might be a winner long term. My sister work with developing technologies in the cannabis industry. There is literally shipping containers full of cash that people are sitting on. They are looking for a digital cash equivalent. It would help reduce theft as well. This may be the coin the industry gets behind. They are starting their own banks, these growers and dispensaries have sooooooo much money here in Cali. She asked me could they do just a cannabis card because she doesn't understand bitcoin etc however she will go with whatever works. There are about 4 weed coins, bot potcoin seems to be the one out there in the community trying to get support in real life not just online. However the industry is trying to distance itself from terms like weed, pot etc. So that's the main issue in if they will try to adopt this coin. However the industry is creating instant millionaires.
My sis had a meeting last week and went to the people's house, she said she sat on a nice leather couch. The lady asked, is the couch comfortable? She said yes. The lady replied "Cause you are sitting on about a million" All their furniture is stuffed with cash because they have no place to put it.
Take it for what its worth.
I think this one might be a winner long term. My sister work with developing technologies in the cannabis industry. There is literally shipping containers full of cash that people are sitting on. They are looking for a digital cash equivalent. It would help reduce theft as well. This may be the coin the industry gets behind. They are starting their own banks, these growers and dispensaries have sooooooo much money here in Cali. She asked me could they do just a cannabis card because she doesn't understand bitcoin etc however she will go with whatever works. There are about 4 weed coins, bot potcoin seems to be the one out there in the community trying to get support in real life not just online. However the industry is trying to distance itself from terms like weed, pot etc. So that's the main issue in if they will try to adopt this coin. However the industry is creating instant millionaires.
My sis had a meeting last week and went to the people's house, she said she sat on a nice leather couch. The lady asked, is the couch comfortable? She said yes. The lady replied "Cause you are sitting on about a million" All their furniture is stuffed with cash because they have no place to put it.
Take it for what its worth.
In seven years your tax rate will be about 15% on your gains, just pay the taxes lol
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