The Best Cryptocoin Investment – Badasseum
Digital currency investors are always scouring the Internet in search of the best cryptocoin investment. Looking past established crypto currencies like Bitcoin, Litecoin and Ethereum they dig deep into coins of all kinds including DragonCoin, Sether, Verge, Ripple and over a thousand others. You can compare cryptocoins for days on end and still not be sure of where to invest. That’s assuming you’re like most neophytes in cryptocoin investing looking to make a killing in 24 hours or less. Or even a month or less.
Cruising through a dozen or so digital currency discussion groups today, I witnessed the aftermath of financial slaughter and monetary mayhem as altcoins plunged while Bitcoin, Litecoin and Ethereum took off — yet again. And, yet again, Bitcoin led the herd with the highest single day gains. And all the while cryptocoin investors betting on altcoins were shell shocked after watching their investments plunge for no obvious reason.
That’s when I came up with the idea for the best cryptocoin investment; badasseum. Badasseum, as the name implies, is the most badass cryptocoin investment of them all. No matter when you buy in you only make money. It only goes up in value, haters love it and trolls respect it. Financial experts are in awe of it and the brightest minds in the world are boggled by it.
The best cryptocoin investment naturally comes with zero risk. Badasseum can never lose value or take a hit due to bad news, negative public perception or anything else. Badasseum is badass personified. Yes this article is an exercise in satire. And yes don’t take me seriously. There really is no such coin as badasseum. No coin can be badass. The closest thing we have to badasseum these days is Bitcoin. So if you want the best cryptocoin investment Bitcoin is the closest you’re going to come.
Calculating Cryptocoin Market Cap – Running The Numbers to Predict the Future
A lot of people have been asking about Ripple and Verge and other coins vis a vis what price they should buy in or if they should wait for a dip. Calculating cryptocoin market cap is the best way to get a clear picture. How? You calculate a coin’s potential price based on the market cap and available supply. Basically, you take the projected or current market cap of any coin and divide it by the available amount in circulation.
Example: Beyond all belief let’s say XRP takes over as the #1 crypto currency dethroning Bitcoin. With a market cap of $243.6 billion and roughly 39 billion coins in circulation, the highest price XRP could ever be would be around $6.25 each. We reach this number taking the present market cap and divide by the number of coins that are out there. Putting aside the conjecture and speculation that the banking system is attempting to manipulate the cryptocoin markets, if Ripple releases more coins or if XRP reaches a higher market cap, you’ll need to recalculate.
Conversely, if you’re hoping XRP hits a certain price and want to know what the market cap would be at that price, calculating market cap involves multiplication. Just multiply the coin price in question by the current circulating supply and you have your theoretical market cap.
Calculating cryptocoin market cap is the surest way to bring reality to all of those conversations about which digital coin will “moon” next and where.
The conversation goes something like this: “If the ABC Cryptocoin hits $1 or if the XYZ coin hits $5 I can buy my Lamborghini!”
I’m not trying to pour cold water on your dreams but help you keep your feet firmly planted on the ground rooted in reality.
Dreaming of that “Lambo” you want to buy? Your mansion in Beverly Hills? Your yacht in Miami? Let’s first run the numbers using the calculation methods above.
If the ABC coin has 100 million coins in circulation and it’s current market price is $5 the market cap is $500 million.
If you think ABC can hit $10, the ABC market cap would be $1 billion.
Now here’s the part you need to pay close attention to.
At the moment the total combined market cap of ALL cryptocoins is about $623 billion. Our hypothetical ABC coin has a $500 million market cap, or .080% of overall market cap. Here’s the formula: ($500 million divided by $623 billion) x 100
If ABC “moons” to $50 because of new investor interest leading to tremendous increases in demand keeping the 0.88% share of overall market cap, ABC has a market cap of $5 billion. HOWEVER, the total market cap of all digital currencies would have to be over $55 TRILLION dollars.
That’s not going to happen any time soon. To put this in perspective –According to the World Gold Council, the total value of all gold ever mined is about $7.8 trillion.
I’m very bullish on the cryptocoin markets and there is no question that money can be made yet we need to maintain a sense of reality. That’s why calculating cryptocoin market cap in any given situation is so important.
Banking on Bitcoin Movie Review – Two Thumbs Up But…
This Banking on Bitcoin movie review (available for streaming on Netflix) must be prefaced by saying this is material perfect for The History Channel or as a basic introduction to the concept of cryptocoin. This is through no fault of the producers as the cryptocoin world moves at such a rapid pace so as to make it nearly pointless to publish a book, produce a film, etc. With Bitcoin news changing and emerging on a daily basis this is to expected.
As a very fair Banking on Bitcoin movie review I need to look past the historical context and give all due credit to the fascinating exploration of theories behind who Satoshi Nakamoto may be. Then there’s the excellent coverage of Bitcoin pioneers Charlie Shrem, Nick Spanos and others who – as so perfectly stated in the film “had to be the first ones through the door only to get shot…” (paraphrasing).
No Banking on Bitocoin movie review would be complete without observing something of a bias against the traditional banking system. This is completely understandable for almost anyone who has ever been a banking customer in the past fifty years. The closing comments right before the film credits makes this crystal clear as does the segment with Benjamin Lawsky just before it. I’m hoping to give you enough teasers so as get you interested but not so much to be seen as spoilers.
Overall this is an excellent film of high quality through excellent videography and spot on journalism. What really got my eyes to pop was learning that the Winklevoss twins were involved with Bitconnect to the tune of a $1.5 million investment. Banking on Bitcoin taught me a lot thanks to the recent history of Bitcoin which is virtually non-existent in any given conversation about Bitcoin these days. For anyone interested in Bitcoin or cryptocoin in general this is a film you must watch.
Crypterium Could Be the Ultimate Cryptocurrency. The Reasoning is Clear.
Let’s welcome guest blogger Chris Abraham to talk about Cyprterium and why Crypterium could be the ultimate cryptocurrency. Without further ado, I pass the mic to Chris…
Crypterium Could Be the Ultimate Cryptocurrency. That’s becase Crypterium is a cryptobank with the goal of turning the impenetrable volatile world of cryptocurrency into a contactless payment platform that’s as easy-to-use as the Starbucks App is for buying coffee–providing cryptocurrencies to mainstream everyday users. Once cryptocurrencies are as simple and easy to use every day as dollar bills the benefits of cryptocurrency–lower transaction costs, speed of payment, removal of national boundaries, and so on–become real. Crypterium will free you to easily spend your cryptocurrencies in real life .
Bitcoins have been more stocks and bonds than actual cash
Right now, Bitcoins are almost strictly being used as investment vehicles. They’re stuck like stocks or bonds into just something you track on your phone or look up online. There’s enough of a barrier to entry–tech, cost, and expense–associated with converting government-backed fiat money into cryptocurrency that it’s like owning 400 troy ounce (27 pounds!) of gold bars like they have in the movies. Sure, you’re rich as hell at $515,778 but how are you going to move that money into a form that you can buy and trade with? It’s both physically heavy and logistically suspicious. That makes it easy to entertain the thought that Crypterium could be the ultimate cryptocurrency.
When it comes to cyrptocurrency, the next step needs to be cryptobanking because even something that’s as simple in Europe with the SWIFT network as sending a bank wire in America is expensive and a pain in the ass, requiring paperwork and signatures and even federal oversight. And that’s just getting Greenbacks into a digital wallet like Coinbase or GDAX. That’s even before buying your very first Litecoin, Namecoin, Dogecoin, PotCoin, Ethereum, and especially Bitcoin.
I was an early adopter of Bitcoin
I have been playing around with Bitcoin (ɃTC) since 2009 when I was a Bitcoin miner. All this demanded was using my computer’s CPU to mine blockchain blocks using an app in a way that resembles mining diamonds or gold: a new site is easier to mine than an old mine.
(Editor’s note: Bitcoin mining via CPU or even GPU is no longer feasible and hasn’t been for years.)
The more mature the coin (Bitcoin is the oldest) the more brute computing “exertion” is required to make new cryptocurrency available, emulating the rate at which commodities are mined from the ground.
Even today, all cryptocurrency–Litecoin, Namecoin, Dogecoin, PotCoin, Ethereum, and especially Bitcoin–is tough to acquire. Scanned and uploaded Passports and Driver’s License, a $50 international wire from your bank (which could result in your account being closed for money laundering), and then the constant threat of hacking, theft, market collapse, as well as the very real threat of being locked out of your own wallet forever. And then there’s the daily limits on selling. And, of course, when I misplaced what’s called a cryptocurrency paper wallet–the only access anyone on planet earth can ever access your coins–all was naught.
The age of panning for Bitcoins is over
Now, Bitcoin mining demands more intensive computing power and electricity costs than ever. Since I started mining in the early days, even a commercial PC could mine actual Bitcoins. I wonder where I securely hid those first mined coins. After misplacing my private key–I lost my paper wallet! I pray to Saint Anthony every day (Tony, Tony, look around. Something’s lost and must be found!)
Later, I had a vendor who insisted on being paid with Bitcoin back in 2010-2013. This was the first time I needed to move money from my bank account into my first–and most popular–digital wallet, Coinbase. It was good practice for now but it required me to formally order a wire transfer and then go down to the physical bank myself to fill out forms with a pen on paper and then be told that there was an actual chance that my international wire transfer would be scrutinized under some international money laundering law and that there was a chance that my assets would be seized, my access to the money would be frozen, and my account would be closed. Yikes! It never came to that but it was a pain in my butt (and that vendor is so rich in crypto that he can now buy and sell me like penny candy).
Is it becoming clearer to you why Crypterium could be the ultimate cryptocurrency?
The future of money is cryptobanking
To get everything moving, Crypterium launched its own ICO (Initial Coin Offering) on Halloween that will remain open until January 12, 2018.
Simply put, according to Wikipedia, “an initial coin offering (ICO) is a means of crowdfunding centered around cryptocurrency, which can be a source of capital for startup companies. In an ICO, some quantity of the crowdfunded cryptocurrency is preallocated to investors in the form of “tokens,” in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum. These tokens become functional units of currency if or when the ICO’s funding goal is met and the project launches.”
In the case of Crypterium, they have the CRPT Token. The price of a CRPT Token has been set at 0.0001 Bitcoin in order to make the initial buy in affordable and accessible in these times of $16,037 Bitcoins. Crypterium is accepting payments in Bitcoin, Etherium, and fiat currencies such as US Dollars, Euros, etc.
It’s pretty exciting that the future of banking is a currency without country. That the value of cryptocurrencies are based more on mass hysteria and a quest for value than on the strength and power of a nation’s military. While technically cryptocurrencies can be fiat currencies, Bitcoin, for example, has a limited supply. Bitcoin is the Manhattan and San Fransisco Bay area of Cryptocurrencies. That’s because no matter what, there will never be more than 21 million BTC ever produced in the same vein that no more real estate will ever be created.
What’s more, the closer the currency is to 20999999.9769 BTC, the exponentially harder it will be to mine them: the cost of the hardware required to mine the coin and the amount of electricity required to power that level of brutal computing will probably mean only nation states with access to free electricity (The Three Gorges Dam is a hydroelectric gravity dam, after all).
That’s one of the greatest things about meta-coins like the CRPT Tokens: they allow you to straddle the value of a variety of altcoins. You can invest in a variety of cryptocoins and spread your money around and, as Bitcoin becomes too expensive for you or it stagnates (probably won’t, it’ll surely reach $1 million-a-coin at least), you can cross invest and make sure you’re able to work in an environment where your cryptocurrency daily driver won’t be so volatile that the pizza you bought at 11PM for $10 actually cost you $700 because of market volatility. You’d hate that right? Even though that’s a stupid thought game (when I was living in Berlin, a Euro cost $1.30 and a Pound Sterling cost $2, now it’s closer to $1.10 and $1.30), volatility is only good when you’re holding and not when you’re spending. Clearly, Crypterium could be the ultimate cryptocurrency.
I look forward to Cryptobanks like Crypterium because I like the idea of being supranational and not relying on US bans or any ban across Europe or Asia. I love the idea of having my wealth and value swirling both safely and accessibly somewhere in the cloud. And while cryptocurrencies don’t have to be cloud-based and can be actual real things in the form of a private key in a paper wallet, both accessibility and convenience are important for me. So, until now, I have relied on Coinbase, and in the near future, I shall be relying on cryptobanks like Crypterium. That’s why it’s not too much of a stretch to consider Crypterium could be the ultimate cryptocurrency.
How to Buy Bitcoin – It could take just a couple of minutes or a couple of days.
According to CNBC “how to buy bitcoin” was the third most used Google search time in 2017. That’s understandable; Bitcoin is dominating dinner conversations, most cable news shows and the lives of would-be cryptocoin investors who want their share of the pot of gold.
When you decide to get on the Bitcoin bus- as millions of others already have – asking yourself “how to buy Bitcoin?” you start your ride with opening an account with one of the major exchanges (like Coinbase or CEX or Bittrexx), connect a bank account or credit/debit card and transfer money over. All of this takes about five minutes then you’re ready for your first Bitcoin buy.
Despite its turbulence in 2017 with downtime and outages due to growing pains, Coinbase is the preferred choice. To be fair to Coinbase, they have added millions of users this year alone and have been struggling to keep up with seemingly insatiable demand. Coinbase has made tremendous progress in scaling to accommodate all of these new cryptocoin investors as they continue to position themselves as the dominant cryptocoin exchange in the world.
The next most important people ask right after “how to buy Bitcoin” is WHEN to buy Bitcoin. Trying to time any market is tricky for even a seasoned investor. Trying to time the Bitcoin market is like trying to capture lightning in a bottle. As we publish this article Bitcoin is priced at $14,390, well off its all-time high of nearly $20,000 just two weeks ago. So RIGHT NOW would be a good time to buy as the consensus remains very bullish for Bitcoin. Experts are forecasting Bitcoin to run as high as $30,000 or $60,000 or even $100K per coin depending on who you ask.
That being said, there is no bad time to Bitcoin but buying Bitcoin on a dip like now is always a good idea.
Bitcoin Ban in South Korea – So What?
With the Segwit2x fork expected any time now most of the world was puzzled by the plunge in price of Bitcoin. After all, Bitcoin prices should’ve fired up like a rocket as more and more people wanted to buy Bitcoin to get their free B2X (Segwit2x) coins. It was a mystery until the news of a potential bitcoin ban in South Korea made the news overnight. Again all the naysayers and doom-and-gloom people came out of the woodwork to pile on. I just yawned in boredom and started to laugh at the ludicrous position of all these people.
That’s because few people in the media, if any, can recall the big China cryptocoin clamdown last summer. China basically through all of their exchanges under the bus and made it impossible for any ICO to launch. Yes Bitcoin dropped on the news. It dropped a lot. But then it rebounded in a few short days and shot up to a record high and kept going on up into orbit eve since Like I said – Bitcoin ban in South Korea – So what?
Besides, South Korea is only at the thinking of stage of any cryptocoin regulation. There is no Bitcoin ban in South Korea and there probably never will be. This is just another example of government regulation of people’s freedom more than anything else. South Korea’s concerns that people will over-speculate on Bitcoin or other cryptocoin is unfounded. Curiously,just yesterday Massachusetts issued its own exploration of Bitcoin regulation for residents under the pretense they need to protect people from the potential corruptive power of cryptocoin.
When China put the screws to cryptocoin a few months ago the fear didn’t last more than a few days. Everyone found a way around it and cryptocoin transactions are happening in China every hour of every day. A Bitcoin ban in South Korea – while unlikely – will be ineffective at deterring anything. with history as our guide there is every reason to be confident in a quick rebound of Bitcoin price.
Segwit2x Fork Summary- Not Just Another Bitcoin Fork in the Road
The Segwit2x Fork Summary: The New York Agreement, also known as Segwit2x, was planned for mid-November but ended up dead on arrival. Now it’s back… But will it work this time? Is the Segwit2x Fork Summary we’re publishing an obituary or the sign of things to come?
The news came out back on December 16th that at block 501451 the Segwit2x Fork will take place which is estimated to happen tomorrow based on the current pace.
This fork is not the same as the one originally intended but has a lot in common. The overall goal was – and indeed is – to make Bitcoin more efficient in terms of completing transactions. These days there are frequent complaints of Bitcoin transactions taking minutes to sometimes hours to complete which Segwit2X is supposed to solve. That’s due to the increased block size to 4MB (compared to 1MB for original Bitcoin). It also cuts down block production time from 10 minutes to just 150 seconds. Other anticipated features include the long-awaited Lightning Network as well as anonymous transactions expected sometime in 2018. The Segwit2x Fork Summary – IT SHOULD ROCK!
This Bitcoin fork raises some questions as to how Segwit2x developers plan to redistribute the original coins from the very beginning of bitcoin that are assumed to belong to the mysterious Satoshi Nakamoto. Nakamoto (if there is such a person) is assumed to be in control of just around one million bitcoins, which will be redistributed to current Bitcoin holders proportionate to their current holdings. While seemingly altruistic in rewarding progressives in the Bitcoin world, I remain skeptical.
The one thing promising is that every holder of Bitcoin gets new coin equal to their current positions at the time the fork happens.
This fork is just the next evolutionary step with many Bitcoin forks behind it. Since the Bitcoin Gold fork back in October, other Bitcoin pretenders such as Bitcoin Silver, Bitcoin Platinum, and others which never managed to gain any traction. The Segwit2x fork is anticipated to be supported by a number of exchanges on day one including Yobit and HitBtc among others.
Segwit2x Fork Summary: We’re not totally convinced it’s going to happen but if it does we expect excellent outcomes.
Cryptocoin Investments Compared and it’s easier than you think.
A day – or even an hour – doesn’t go by where there isn’t a conversation whereby cryptocoin investments compared goes on. From what I’ve seen cryptocoin investors fall into two distinct camps; active traders who will buy whatever John McAfee tweets about then sell it as fast as they can timed to make the most money they possibly can as fast as possible (the “pump and dump”) OR any other viable cryptocoin that they can buy low and sell high in the short term to make a profit. Then they move on to the next coin in the next minute or hour or day.
This active trader is playing an endless game where there is a never-ending pursuit of cryptocoin investments compared and analyzed to determine the next buy and then the next sale. This reminds me of day trading in stocks and I’m noticing that cryptocoin traders end up with a similar experience; you can have a great day or life can suck. How’s that for a dichotomy?
For the purposes of this conversation I’ll divide cryptocurrency investors into two distinct categories; intelligent traders and impatient traders.
The Intelligent Cryptocoin Investor
The intelligent trader will buy cryptocoin because he or she analyzed the fundamentals, perhaps read the whitepaper and likes everything seen. The intelligent trader will then make their purchase and watch their investment(s) like a mother hen watches her eggs. The intelligent trader isn’t intending to sell what he just bought but is prepared to sell if market moves are alarming and/or cryptocoin trends are working against their investment. As far as I’m concerned the intelligent cryptocoin trader will stick with proven staples like Bitcoin, Ethereum, Litecoin and other digital currencies that are firmly established and have a proven track record.
The Impatient Cryptocoin Investor
The impatient (maybe also impetuous?) cryptocurrency trader will always be on the prowl for the next big hit be it Verge or Ember or Ripple, etc. etc. to buy in, HODL just a little bit then panic and and sell the minute the coin drops by a penny or two. This disrupts the entire market for that coin and then the mob mentality prevails.
The impatient cryptocoin investor can make a ton of money one day and lose his shirt the next. The intelligent investor will make more money over a longer period of time. Long story short: Invest in the established coins and keep a close eye on your investments. Avoid all the other coins because they are too speculative and too volatile. As always, everything stated here is my opinion. Do your own research and soul searching and make the best decision that fits you. It all begins with cryptocoin investments compared side by side to give you the essential information you need to proceed as you see best.