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Crypto News, Analysis, Forecasts, ICOs and Events for the week ending 11/24/2018

21st Money News Letter



Crypto News, Analysis, Forecasts, ICOs, and Events for the week ending 11/24

 

Crypto News & Analysis

 

  • Is cryptomining still a viable business?
  • Can individuals create enough revenue to produce a profit from cryptomining?
  • What does the future hold for cryptomining operations?

 

The new way to make money crypto mining in Sweden is by not paying the electric bill. It sounds funny but this may be the policy of one crypto mining operation that was based in Sweden, NGDC. NGDC’s crypto mining operations in a northern county of Sweden compiled an electric bill equal to an amount of $1.55 million during the time they were actively engaged in cryptomining. NGDC’s administrators are now nowhere to be found.  And a $1.55 million bill is still waiting to be paid. When you look past the sensationalism of the headline. A new creature may be appearing above the horizon. A creature that has lost hope in creating wealth through crypto mining, the disenfranchised and discouraged crypto miner.

 

The cost of electricity in Sweden is relatively inexpensive compared to other 1st world countries. The cost to mine one Bitcoin is on average about US $4,700. That fact made Sweden a prime location to set up cryptocurrency mining operations. Even in today’s Bitcoin bear market, with Bitcoin worth about $3,900 at the time of this writing, there is still the potential of Bitcoin gaining value above $4,700 again.

Global Electricity cost for Bitcoin

Info graphic courtesy of Elite Fixtures

 

So why would NGDC walk away from machines that generate value when you turn them on? Do they know something the rest of us don’t? There could only be one of two reasons why NGDC bailed out of their operations in Sweden. 1) They knew how to take advantage of an unsuspecting Swedish utility company and municipality that did not expect or prepare for this type of cyber theft. Or 2) NGDC lost confidence in the revenue source of crypto mining and no longer wished to capitalize their crypto mining operation.

 

If theft was the motivation for NGDC’s enterprise from the beginning, then let’s see what they were able to get away with. The electricity bill was $1.55 million. The approximate cost to mine one bitcoin in Sweden is $4,700. Therefore NGDC may have been able to mine about 329 Bitcoins. 329 Bitcoins have a current market value of $1,286,000, certainly not worth the cost of the electricity. But 329 free Bitcoins can have significant value at some point in the future if Bitcoin’s value climbs to its record high price of $19,000 per coin.

 

The second possible reason for NGDC’s departure from their cryptomining operation could be that crypto mining is not a profitable business anymore, for start up operations. It is also very difficult to profit from crypto mining as an individual at this stage in the development of the cryptocurrency market. The sophistication of the hardware owned by well financed crypto mining operations, and the short amount of time it takes for computing hardware to become obsolete add to the difficulty of individuals making a profit from crypto mining. The latest piece of information to determine whether crypto mining is still a profitable enterprise is the fact that 8BTC, a Chinese crypto outlet, reports that major cryptomining operations like Bitmain are selling off their hardware by the kilogram instead of by the unit. Application Specific Integrated Circuit (ASIC) hardware that sold for approximately $2900 a year ago is now being sold for about $140.

 

The evolution of the cryptocurrency market has moved Ethereum and EOS to choose the proof of stake method to verify the data added to their blockchains. The proof of stake protocol requires forgers to stake at least $1,000,000 just to be eligible to forge cryptocurrencies within a protocol. Be advised that a $1,000,000 stake in the cryptocurrency still does not guarantee you get the opportunity to verify data on the blockchain. You still need the votes of others that have a stake in the cryptocurrency to get the right to forge a block of data to the blockchain and receive the forging fee.

 

Tying all this information to the action taken by the NGDC crypto mining operation. It seems, most likely, that cryptomining became unprofitable. Unprofitable to the point that NGDC abandoned all their hardware and skipped town to avoid paying for the electricity used during the period of time their mining operation was functioning. If there is a consolation for the electrical utility company and the municipality, they may have acquired free cryptomining hardware that can be used in some way to compensate for the money lost from NGDC not paying their bill.

 

Forex News & Analysis

 

Bitcoin  continued to lose substantial value this week. The cryptocurrency price fell through its prior lower level of resistance, and appears to have settled in at a level near $4,000. The United States Dollar gained value against Bitcoin this week. The USD started the week pairing with Bitcoin at an exchange rate of $5483/ 1 Bitcoin. The pair ended the week exchanging at a rate of $4244 / 1 Bitcoin. The USD recorded a 29.19% increase in value when paired with Bitcoin by the week’s end.

The USD index (.DXY) compares the USD to 6 globally dominant currencies. The USD gained ground when compared to its global counterparts towards the end of the week. The .DXY index recorded a value of 96.19 at the beginning of the week. The Index closed at 96.94 recording a 0.780% increase in value by the week’s end.

 

The GBP gained marginal ground against the USD from the previous week. The dollar ended the week exchanging with the GBP at $1.288 losing 0.782% from the previous week’s level of $1.278 / 1 GBP. The United States Dollar (USD) ended the week weaker in value when compared to the Russian Ruble (RUB), exchanging with the RUB at 65.63 RUB/ 1 USD a 0.533% decrease in value from the previous week’s level of 65.98 / 1 USD.

 

This Week’s Biggest Winners in Cryptocurrencies

 

1) +47.60% Factom (FCT) Started the week at $5.765 Ended the week at $8.509

 

2) +43.10% Buggyra Coin Zero (BCZERO) Started the week at $0.00789635 Ended the week at $0.0113

 

3) +19.53% Dentacoin (DCN) Started the week at $0.00023681 Ended the week at $0.00028306

 

Crypto Chart of the Week

 

Factom FCT

Factom Chart 11-26-2018

Chart Courtesy of CoinValuator

 

Factom (FCT) ranks 45th on the list of cryptos ordered according to their market capitalization. Factom’s current market cap is $99,400,000. Factom describe themselves as a blockchain innovations company transforming the way organizations use and interact with their data, by allowing you to build data integrity and trust capabilities into applications and systems. Factom solves the core issues of Bitcoin by providing a smaller block size and faster transaction speeds. $2,854,821 worth of Factom changed hands at an average price of $8.78 on November 24th.

 

Heard Through the Grapevine

Upcoming ICOs and Events

 

Upcoming Events

 

November 24, 27, 30 – European Blockchain Hub Tour, Manila, Ho Chi Minh, Jelu, Bangkok,

 

November 28 – 29 – Blockchain Expo North America 2018 Santa Clara, California

 

November 29 – 30 – Monaco International Blockchain Forum Monaco

 

March 19 – 21, 2019 –  Money20/20 Asia Singapore

 

Upcoming ICOs

 

Craider (RAID) Sale Starts November 24, 2018 Sale Ends January 18, 2019 / A next-gen digital platform consisting of a mobile messenger bot, a web based portal and a cloud based exchange, all powered by data driven analytics

 

MiMiner (MIT) Sale Starts November 25 Sale Ends December 25 / A combination of specifically designed rooms, outdoor sites, associated utilities supporting systems and staff. This forms a common physical space and technology environment for mining equipment as well as readiness to operate 24/7

 

Dream Real (DR) Sale Starts November 26 Sale Ends December 31 / A first in global social networking based on blockchain technology, where users can share their dreams with the whole world, and cryptocurrency of the ecosystem creates incentives for content generation

 

InnovaMinex (INX) Sale Starts November 26 Sale Ends January 26,2019 / An innovative business model that uses blockchain technology to guarantee the traceability of precious metals

 

Trade Pharma Network (TXP) Sale Starts November 26 Sale Ends December 31 / A EU-licensed brokerage platform and an international pharma-centric marketplace of choice for buyers & sellers performing routine transactions of medicines

 

ONe Network (OBT) Sale Starts November 27 Sale Ends January 22, 2019 / A next generation social network that uses the latest technologies to provide a wide range of services that are digitally secure and private for our users

 

BDXAlliance (BDX) Sale Starts November 28 Sale Ends February 28 / Offering you a safe and secure cryptocurrency ecosystem of blockchain-connected businesses.

 

Bitacium (XBCU) Sale Starts November 28 Sale Ends December 27 / Bringing in sensational innovations to blockchain and media services, integrating business and social activities into one network to enhance lifestyles all over the world Bitacium offers cross border payment worldwide and a distributed token sharing exchange for token holders

 

Elisia (ELSA) Sale Starts November 30 Sale Ends January 19, 2019 / Providing lightning fast transactions with no fee

 

IDAC (IDAC) Sale Starts November 30 Sale Ends December 30 / Creating the world’s leading decentralized digital assets for disability and serving the public welfare ecosystem of 650 million people around the world with disabilities, Let the 650 million people with disabilities around the world live with more dignity

 

LivenPay (LVN) Sale Starts November 30 Sale Ends January 1, 2019 / An incentive-based mobile payments gateway and ecosystem built for the lifestyle and dining industry

 

One+1 (CHK) Sale Starts November 30 Sale Ends February 15 / A token allows you to turn crypto money into real purchases and discounts and allows you to create a new charity system

 

Run2Play (RUN) Sale Starts November 30 Sale Ends December 31 / A game where the user gets stronger and more fit, as well as their character in the game. Incentivizing fitness and addressing the growing problem of childhood obesity

 

Twogap (TGT) Sale Starts November 30 Sale Ends December 7 / The largest scalable stop-loss product for Crypto investors

 

Venus (VNS) Sale Starts November 30 Sale Ends January 31, 2019 / A Worldwide Decentralized Social Networking Site

 

XCHNG (XCHNG) Sale Starts November 30 Sale Ends December 31 / A game-changing blockchain project to equip the digital advertising ecosystem with an open and unified protocol-based marketplace and ledger framework for buying and selling media

 

Click here for 21st Money’s complete list of upcoming and ongoing ICOs

Crypto News, Analysis, Forecasts, ICOs and Events for the week ending 11/16/2018

21st Money News Letter



Crypto News & Analysis

 

Bitmain’s co-founder Jihan Wu has been removed from the director’s chair at Bitmain. It has been reported that Mr. Wu has been demoted to the position of supervisor and no longer has the authority to manage the day to day affairs of Bitmain. An unnamed source from Bitmain disclosed the functions and details of Mr Wu’s new role within the company. The source describes Mr. Wu’s demotion as follows,

 

“After changing to a supervisor, there are no voting rights, so (Mr. Wu’s) power is smaller and [he] cannot participate in the business decision-making of the enterprise.” – CoinTelegraph

 

The 21st Money Team has been monitoring the events surrounding Bitmain closely. It appears as though many bad decisions were made at the executive level. Mistakes that could result in Bitmain’s shareholders missing out on substantial gains from an initial public offering of the company. Unfortunately for the company’s stockholders, Bitmain may no longer be able to boast that they control more than 50% of Bitcoin’s hash-rate.

 

One of the key issues that hindered the IPO sale was the creation of a competitor, Bitewei. Bitewei has the capacity to manufacture an Application Specific Integrated Circuit (ASIC) mining rig cheaper and more efficient than Bitmain, the Whatsminer M10. This new state of the art miner is able to utilize 7nm technology within their (ASIC) machines. Bitewei was founded by Yang Zuoxing, the former director of design at Bitmain. Bitmain, under the leadership of Mr. Wu, was unable to keep Mr. Zuoxing as a satisfied employee at Bitmain. So the computer design genius took his skills and formed his own company Bitewei, days before the proposed IPO sale.

 

  • Bitmain has announced they can produce a miner that utilizes 7nm technology, but it is not yet available for sale, and the Whatsminer M10 is.

 

  • The Bitcoin mining reward will be cut in half in May of 2020, making hashrate computing power a key point in selling ASIC miners.

 

  • One of Bitmain’s chip suppliers from Taiwan lowered their earnings estimate for 2018.

 

  • When the quarterly reports, generated during the 3rd quarter of the financial calendar, are dissected by potential investors, they may not provide or support the revenue growth indications Bitmain needed to pull of a US $2 billion IPO.

The mismanagement at the top of the company may be considered a cause of the uncertainty surrounding Bitmain’s future. The perfect storm that was brewing within Bitmain can almost be compared to the Titanic going full speed ahead towards that fateful unseen iceberg. Only this time the fellow officers may have been wise enough to relieve the captain of his duty, and slow the ship down, before they hit the iceberg. Can Bitmain’s new crew bring the company back to its former glory? Can the IPO be salvaged? Will the current stockholders still make the fortune that was on the table for them only a few weeks ago? It’s a waiting game now as the players involved, Canaan, Ebang, Bitewei, and Bitmain, jockey for the position of premier ASIC Miner manufacturer. The 21st Money Team will keep you informed as Bitmain attempts to salvage their IPO.

 

Forex News & Analysis

 

Bitcoin lost substantial value this week. The cryptocurrency price fell through its prior lower level of resistance, near US $6,200, and appears to have settled in at a level near $5,500. The United States Dollar gained value against Bitcoin this week. The USD started the week pairing with Bitcoin at an exchange rate of $6446/ 1 Bitcoin. The pair ended the week exchanging at a rate of $5548 / 1 Bitcoin. The USD recorded a 16.19% increase in value when paired with Bitcoin by the week’s end.

The USD index (.DXY) compares the USD to 6 globally dominant currencies. The USD lost marginal ground when compared to its global counterparts towards the end of the week. The .DXY index recorded a record high value of 97 for the year, at the beginning of the week. The Index closed at 96.43 recording a 0.591% loss in value by the week’s end.

 

The GBP lost ground against the USD from the previous week. The dollar ended the week exchanging with the GBP at $1.2837 gaining 1.075% from the previous week’s level of $1.2975 / 1 GBP. The Mexican Peso (MXN) ended the week marginally stronger in value when compared to the GBP, exchanging with the GBP at 25.8743 Pesos / 1 GBP a 0.9756% increase in value from the previous week’s level of 26.1268 Pesos / 1 GBP.

 

Crypto Futures News & Analysis

 

Bitcoin is trading at US $4967. the lowest level recorded in 2018.

 

  • What caused the loss in Bitcoin’s value?
  • Where will Bitcoin go from here?
  • Is Bitcoin still the benchmark of cryptocurrency value?

 

Bitcoin lost more than US $1,000 per coin. The loss in value has been attributed to the hard fork that has been executed by Bitcoin Cash (BCH), Bitcoin’s baby brother.

 

Apparently some infighting between a couple of whales, on both platforms have brought a level of uncertainty to all parties involved in the two cryptocurrencies. Craig Wright and Roger Ver, two high profile crypto investors, have gone to war with each other through social media outlets like youtube. They are aggressively attacking the strategy and investment practices of each other, removing confidence from the crypto markets. Craig Wright wants Bitcoin Cash to remain the way it is. His present adversary, Mr. Ver, wants the fork to be implemented.

 

Co-founder and CEO of the cryptocurrency trading wallet Luno,  Marcus Swanepoel, described the Bitcoin value loss this way:

“This drop in the bitcoin price is more than likely due to the upcoming hard fork scheduled by Bitcoin Cash. The Bitcoin Cash blockchain has been undergoing scheduled hard forks every six months to upgrade and improve the protocol. In most cases, these hard forks are uncontested with the whole community supporting them. In this case, however, consensus couldn’t be reached with two factions emerging and proposing different solutions for the upgrade.”

 

While these two investors duke it out in social media, Bitcoin’s value decreased significantly. Even though some describe the loss in value as a bloodbath others assume a new lower level of resistance is being drawn. The general consensus maintain a vision of Bitcoin regaining value once one of the combatants has secured his victory in whole or in part.

 

The other opinion about Bitcoin’s sudden drop in value centers around lack of interest in the product. Some analysts say lack of new investors caused the market to lose momentum. Sighting current investors are full of inventory and no longer wish to purchase more cryptos at the higher levels. Therefore their bids have been withdrawn or lowered.

 

Crypto Stocks & Analysis

 

Tencent Holdings limited’s (TCEHY) 3rd quarter reports are in. Their earnings beat the expectations of most publicized predictions. TCEHY holds more than 20 patents utilizing blockchain technology. An amount reportedly equal to blockchain patents held by,  Accenture, Bitmain, China’s State Grid Corporation, Google, Intel, Ping An Insurance, Sony, and Visa. The probability of blockchain technology being added to the daily operations of all of these corporate powerhouses is high enough to monitor their price activity with the fluctuations  occurring with the cryptocurrency markets.

 

TCEHY adjusted 3rd quarter earnings per share (EPS) value was 2.06 Yuan a share vs 1.79 Yuan a share for the same period a year ago.  Other factors that weighed in heavily on the increased EPS value were a 24% increase in revenue based on sales of 80.6 billion Yuan vs sales of 65.2 billion Yuan last year. Tencent was also able to report a 47% increase in advertising revenue to 16.2 billion Yuan.

 

Tencent Holdings Limited (TCEHY)

Tencent Chart 11- 16 2018

Chart courtesy of Yahoo Finance

 

There was a strong probability TCEHY may have even surpassed these stronger than expected earnings reports. Earlier this year Tencent was about to market a highly anticipated digital game for Chinese youth. But the government came in and said to Tencent the game was too addictive for the minds of the young people of China and too harmful to their eyes as well. Tencent was not allowed to bring the game to market causing TCEHY to lose a large portion of its market cap value earlier this year.  

 

The gaming accounted for approximately 40% of Tencent’s revenue stream – Reuters. . Online games like ‘Honor of Kings,’ which TCEHY holds the license to sell in China, is one of the highest grossing games in the region. A massive multiplayer game, PlayerUnknown’s Battlegrounds, or ‘PUBG’ is awaiting approval from Chinese regulators so that it can be monetized by TCEHY. Sales of the game ‘Monster Hunter: World’ were also stopped. Tencent is supposedly working with regulators to find a way to bring their product to market with time restrictions for play. TCEHY remains confident an accord can be reached with regulators within a reasonable time frame.

 

TCEHY closed the week trading at US $37.63 a share gaining $1.03 from the previous trading day.That value translates into a 2.81% increase from the closing price one day earlier.

This Week’s Biggest Winners in Cryptocurrencies

 

1) +492.13% Nasdacoin (NSD) Started the week at $0.576 Ended the week at $3.387

 

2) +41.38% Mobius (MOBI) Started the week at $0.0290 Ended the week at $0.0410

 

3) +37.61% CloakCoin (CLOAK) Started the week at $4.501 Ended the week at $6.194

 

4) +32.37% Factom (FCT) Started the week at $4.409 Ended the week at $5.836

 

5) +20.37% Wowbit (WWB) Started the week at $0.0481 Ended the week at $0.0579

 

6) +7.98% Odem (ODE) Started the week at $0.238 Ended the week at $0.257

 

7) +7.72% CrypticCoin (CRYP) Started the week at $0.00570140 Ended the week at $0.00614132

 

8) +6.28% APIS (APIS) Started the week at $0.00363297 Ended the week at $0.00386125

 

9) +5.73% ChainLink (LINK) Started the week at $0.489 Ended the week at $0.517

 

10) +5.13% Vitae (VITAE) Started the week at $1.754 Ended the week at $1.844

 

11) +4.71% SmartCash (SMART) Started the week at $0.0170 Ended the week at $0..0178

 

12) +4.44% MOAC (MOAC) Started the week at $1.126 Ended the week at $1.176

 

13) +2.29% NEM (XEM) Started the week at $0.0916 Ended the week at $0.0937

 

14) +1.21% Dentacoin (DCN) Started the week at $0.00024771 Ended the week at $0.00025070

15) +0.99% Dai (DAI) Started the week at $1.005 Ended the week at $1.015

 

Crypto Chart of the Week

 

Nasdacoin NSD

Nasdacoin Chart 11-18-2018

Chart Courtesy of Coinlib

 

Nasdacoin (NSD) ranks 91st on the list of cryptos ordered according to their market capitalization. Nasdacoin’s current market cap is $51,200,000. Nasdacoin describe themselves as a decentralized encrypted virtual currency. Be Advised! There isn’t any news available or trading volume recorded to corroborate with the dramatic rise in value associated with Nasdacoin at this present time.

 

Heard Through the Grapevine

Upcoming ICOs and Events

 

Upcoming Events

 

November 19, 22, 24, 27, 30 – European Blockchain Hub Tour Stockholm, Manila, Ho Chi Minh, Jelu, Bangkok,

 

November 16 – 17 –  CryptoFinance 2018 Oslo, Norway

 

November 21 – 22 – Russian Blockchain Week Moscow, Russia

 

November 21 – 23 – CryptoEvent RIW Conference Moscow, Russia

 

November 28 – 29 – Blockchain Expo North America 2018 Santa Clara, California

 

November 29 – 30 – Monaco International Blockchain Forum Monaco

 

March 19 – 21, 2019 –  Money20/20 Asia Singapore

 

Upcoming ICOs

 

Adab Solutions (ADAB) Sale Starts November 18 Sale Ends December 28 / The First Islamic Crypto Exchange, based on the norms of Shariah

 

SharkGate (SHKG) Sale Starts November 18, 2018 Sale Ends January 17, 2019 / Providing unrivaled hacker protection to a website plus running a 24/7 malware scanner

 

Bounty Angels (BANG) Sale Starts November 19 Sale Ends December 19 / Automatic marketing platform for bounty campaign

 

Enzym (EYM) Sale Starts November 19 Sale Ends December 10 / Bringing transparency and security to the user. Enzym is a free mobile game that triggers encounters outside our usual circles of (friends, family, colleagues…)

 

iCasting (TLNT) Sale Starts November 19 Sale Ends December 28 / A revolutionary one-stop-shop talent ecosystem, serving the whole casting industry from one platform

 

EthicHub (ETHIX) Sale Starts November 20 Sale Ends December 18 / Transnational peer-to-peer crowdlending platform

 

PlayChip (PLA) Sale Starts November 21 Sale Ends November 28 / Delivering the world’s first fully-integrated, blockchain enabled global fantasy sports, online sports betting and gaming ecosystem

 

Craider (RAID) Sale Starts November 24, 2018 Sale Ends January 18, 2019 / A next-gen digital platform consisting of a mobile messenger bot, a web based portal and a cloud based exchange, all powered by data driven analytics

 

MiMiner (MIT) Sale Starts November 25 Sale Ends December 25 / A combination of specifically designed rooms, outdoor sites, associated utilities supporting systems and staff. This forms a common physical space and technology environment for mining equipment as well as readiness to operate 24/7

 

Trade Pharma Network (TXP) Sale Starts November 26 Sale Ends December 31 / A EU-licensed brokerage platform and an international pharma-centric marketplace of choice for buyers & sellers performing routine transactions of medicines

Click here for 21st Money’s complete list of upcoming and ongoing ICOs

Crypto News, Analysis, Forecasts, ICOs, and Events for the week ending 11/9/

21st Money News Letter



Crypto News & Analysis

 

November is here and many are asking when will federally regulated cryptocurrency exchanges appear within the US. One of the key reasons the Securities and Exchange Commission gave for their denial of Bitcoin based Electronically Traded Funds (ETFs) was the fact that the underlying security or asset was not listed on a federally regulated exchange. ICE, The Intercontinental Exchange that owns and operates the New York Stock Exchange, and NASDAQ, the world’s 2nd largest Exchange qualified by its market cap value of US $10 trillion, appear ready to fill that void. It has been reported that Ripple (XRP) executives are really excited about the opportunity to be on equal exchange grounds with Bitcoin.

 

Nasdaq and ICE are not the only government regulated exchanges planning to add cryptocurrencies to the list of securities they traffic in. There hasn’t been any official announcement as to what other cryptos would have a listing on the exchanges besides Bitcoin. Although there is a large amount of speculation from journalists and crypto enthusiasts that the top three cryptos will be listed on these new digital exchanges when they launch.

 

The timeline for these launches may take place as early as the 1st quarter of 2019. The cryptomarket is in a state of suspense waiting for the next thing that will bring on a bull market. Technology continues to advance. The internet of things is becoming more efficient. 5g internet speeds will be available to everyone soon. Cryptocurrencies may be able to trade on trusted and regulated exchanges. Some of these advancements and events are reportedly speculated to be unveiled during the early part of next year. A technology explosion is on the horizon. dApps, smartphones, and their functionality within blockchain technology is an upcoming future we can all witness. The networks needed to process the data have been formed. A regulatory environment for digital assets is being put in place. Cryptocurrencies like Bitcoin may begin to play a greater role in the daily lives of the world’s population soon.

 

Forex News & Analysis

 

Bitcoin values remain steady. The cryptocurrency continues to maintain a value above its lower level of resistance, near US $6,200, throughout another week. The United States Dollar lost value against Bitcoin this week. The USD started the week pairing with Bitcoin at an exchange rate of $6329/ 1 Bitcoin. The pair ended the week exchanging at a rate of $6446 / 1 Bitcoin. The USD recorded a 1.85% decrease in value when paired with Bitcoin by the week’s end.

The USD index (.DXY) compares the USD to 6 globally dominant currencies. The USD gained marginal ground when compared to its global counterparts towards the end of the week. The .DXY index recorded a value of 96.28 at the beginning of the week. The Index closed at 96.90 recording a 0.64% gain in value by the week’s end.

 

The GBP gained ground against the USD from the previous week. The dollar ended the week exchanging with the GBP at $1.2975 losing 0.03% from the previous week’s level of $1.2971 / 1 GBP. The GBP exchange rate fluctuates with the mood of Brexit actually taking place, without any more major obstacles. The Mexican Peso(MXN) ended the week marginally weaker when compared to the GBP, exchanging with the GBP at 26.1268 Pesos / 1 GBP a 0.591% decrease in value from the previous week’s level of 25.9731 Pesos / 1 GBP.

 

Crypto Futures News & Analysis

 

The Securities and Exchange Commission (SEC) will no longer except formal public commentary about the 9 Exchange Traded Fund (ETF) applications that are pending SEC approval. The last day to put your two cents in was November 5th. Some journalists and analysts following the crypto ETF story were optimistic the SEC may give the approval on the 5th or at least give some indication as to how and when the applications were to be decided upon. But there weren’t any public statements being issued from the regulatory watchdogs of American investments. All those in favor of a Bitcoin based ETF, secretly hope that no news is good news.

 

The Bitcoin ETF is significant to the crypto market because it is a financial product that can be marketed to unqualified investors. Meaning, you don’t have to be a millionaire to be involved. The ETF is also easier to understand for non tech-savvy investors. Analysts and investors speculate that the value of Bitcoin may improve greatly when the ETF is introduced to the crypto marketplace. It was only 6 weeks ago when rumors of the SEC approving an ETF application sent the price of Bitcoin very near to US $8,000.

 

So what does the future hold for Bitcoin based ETFs? We can’t predict the future with any surety. What we can do is examine recent events and upcoming announcements and hopefully benefit from the information available. We know there are currently 9 applications pending for crypto ETFs. We know the SEC recently formed a new division to oversee digital assets, the FinTech Hub. And we know the SEC has announced the review period for the VanEck SolidX Bitcoin ETF application will end February of 2019.

 

The value of Bitcoin is holding steady. Maintaining a value above its lower threshold of price resistance near $6,200. The last sale of Bitcoin at the time of this writing was at $6,446. Preparations are being put in place to handle digital asset investments by the US regulatory agency. ETF applications have been submitted. The next day of reckoning will be in February of 2019. The 21st Money Team will keep you informed.

 

Crypto Stocks & Analysis

 

The advancement of the internet directly affects the advancement of cryptocurrencies. As internet services become more efficient, access to your digital wealth becomes more seamless. When it comes to cryptocurrencies, if you don’t have access to the internet, you don’t have access to your crypto wealth (something to think about).  

 

Iridium Communications inc. (IRDM) has brought a unique brand of global communications and data transfer to the public marketplace. They have attracted the attention of 21st century investors, through their satellite communications network, NEXT. IRDM already has 66 satellites in low Earth orbits. They will be launching the last group of satellites to  complete the NEXT satellite constellation on December 30th. A great way to bring in the New Year!

 

After the NEXT satellite constellation is completed, IRDM will move from being a developer of a global communications network to a facilitator of global communications. Recent statements from IRDM’s CEO, Matt Desch, described the unique features of IRDM’s network as well as the lucrative contracts and relationships that are in place. IRDM will be able to provide communications to aircraft when they fly over remote areas of the world. The movement of shipments in transit can be tracked over oceans, rails, and the air with the cutting edge technology IRDM can provide. IRDM also has contracts with the US Department of defense. The full scope of IRDM’s innovations are still yet to be discovered. There has never been a communications network of this scale. IRDM boasts that their network has reduced global data transfer latency to an almost unnoticeable level. There are already more than 400 partners involved in the support of the network, including a recent partnership with Amazon(AMZN).

 

Iridium Communications Inc. (IRDM)

IRDM Chart 11-10-2018

Chart Courtesy Of Yahoo

 

Operational earnings before interest, tax, depreciation, and amortization have been reported to have grown 12% from the 3rd quarter last year. There is an expectation from IRDM that the earnings for the full year of 2018 will be $300 million, a 13% increase from 2017. 3rd quarter reports from IRDM have also detailed a 20% rise in equipment revenues. A compelling point of interest when you examine the IRDM balance sheet is, they get to right down the depreciation of the satellites once they are successfully deployed. The depreciation on the NEXT constellation of satellites was $62.1 million in the 3rd quarter of this year compared to $22.9 million for the corresponding period a year ago.

 

This Week’s Biggest Winners in Cryptocurrencies

 

1) +92.02% BOScoin (BOS) Started the week at $0.0677 Ended the week at $0.130

 

2) +81.50% Smartlands (SLT) Started the week at $3.345 Ended the week at $6.071

 

3) +50.37% PeerCoin (PPC) Started the week at $0.945 Ended the week at $1.421

 

4) +38.32% SirinLabs (SRN) Started the week at $0.107 Ended the week at $0.148

 

5) +38.14% Worldwide Asset eXchange (WAX) Started the week at $0.0818 Ended the week at $0.113

 

6) +31.46% Einsteinium (EMC2) Started the week at $0.0890 Ended the week at $0.117

 

7) +25% RChain (RHOC) Started the week at $0.0872 Ended the week at $0.109

 

8) +24.22% Scry.info (DDD) Started the week at $0.0512 Ended the week at $0.0636

 

9) +24.18% Agoras Token (AGRS) Started the week at $0.579 Ended the week at $0.719

 

10) +24.16% Odem (ODE) Started the week at $0.178 Ended the week at $0.221

 

11) +22.11% Decentraland (MANA) Started the week at $0.0778 Ended the week at $0.0950

 

12) +18.96% ProximaX (XPX) Started the week at $0.00341728 Ended the week at $0.00406529

 

13) +18.67% QuarkChain (QKC) Started the week at $0.0450 Ended the week at $0.0534

 

14) +16.39% Dignity (DIG) Started the week at $0.0360 Ended the week at $0.0419

 

15) +14.79% Noahcoin (NOAH) Started the week at $0.00053399 Ended the week at $0.00061296

 

Crypto Chart of the Week

 

BOScoin

Boscoin Chart 11-11-2018

Chart Courtesy of Coinvaluator

 

BOScoin (BOS) ranks 100th on the list of cryptos ordered according to their market capitalization. BOScoin’s current market cap is $57,320,000. BOScoin describe themselves as:

 

“a crypto coin issued on Blockchain Operating System (BOS) which is aimed towards decentralization of the governing systems. Blockchain Operating System uses “Trust Contracts” similar to smart contracts on Ethereum. Trust Contracts are securely executable contracts based on decidable programming framework known as Owlchain. The underlying “Modified Federated Byzantine Agreement (mFBA)” consensus algorithms of BOScoin reduces the block interval to 5 seconds and increases the transaction speeds up to 1000 TPS. BOScoin incorporates a “Congress Network” which creates a more democratic decision-making process. The BOScoin self-governing ecosystem consists of Congress Network, Trust Contracts, Incentive system, Decentralized applications, Common budget and Decentralized consensus (mFBA).” Coinlib


$145,537 worth of BOS changed hands November 9th at an average price of $0.12.

 

Heard Through the Grapevine

Upcoming ICOs and Events

 

Upcoming Events

 

November 12 – 14 – SZ Economic Summit Berlin, Germany

 

November 12 – 16 – Singapore Fintech Festival Singapore

 

November 12, 13, 15, 19, 22, 24, 27, 30 – European Blockchain Hub Tour Vienna, Madrid, Stockholm, Manila, Ho Chi Minh, Jelu, Bangkok, London

 

November 15 – VRTL Media Summit Los Angeles, California USA

 

November 16 – 17 –  CryptoFinance 2018 Oslo, Norway

 

November 21 – 22 – Russian Blockchain Week Moscow, Russia

 

November 21 – 23 – CryptoEvent RIW Conference Moscow, Russia

 

November 28 – 29 – Blockchain Expo North America 2018 Santa Clara, California

 

November 29 – 30 – Monaco International Blockchain Forum Monaco

 

March 19 – 21, 2019 –  Money20/20 Asia Singapore

 

Upcoming ICOs

 

Sentigraph.io (EMOT) Sale Starts November 9 Sale Ends December 10 / An innovative Early Stage Startup with an objective of helping businesses and individuals gain unique insights, and make good decisions based on the feelings of customers or peers in a social network like Twitter

 

Hyperbridge (HBX) Sale Starts November 10 Sale Ends September 10 / Developing decentralized protocols for the deployment of dApps within an industry specific “micro-economy”, facilitated through their protocol-driven platform BlockHub to unite producers & consumers

 

Smart League (POD) Sale Starts November 10 Sale Ends December 8 / A global, decentralized platform that will determine the organization and quality of amateur sport management in a disruptive way

 

ServAdvisor (SRV) Sale Starts November 12 Sale Ends December 12 / Developing a revolutionary approach to leveraging the benefits of blockchain technology and providing a direct connection between retailers, service providers and users

 

Utile Network (UTL) Sale Starts November 14 Sale Ends December 31 / Enabling users to receive rewards for generating, adding, monitoring and detecting valuable information

 

BitCanna (BCNA) Sale Starts November 15 Sale Ends June 30, 2019 / Providing a decentralized payment network, Supply chain and Trust network for the legal cannabis industry

 

Citowise (CTW) Sale Starts November 15, 2018 Sale Ends January 15, 2019 / Providing the crypto-community with a reliable and professional cryptocurrency wallet, fighting back against scammers and hackers, adopting cryptocurrencies for mass use and assuring a high quality of ICO projects

 

Greentoken (GTN) Sale Starts November 15 Sale Ends December 15 / A cryptocurrency mining with lifelong free green electricity, based on an innovative waste-processing plant with a 100% recycling capacity, without harm to the environment and preliminary separate collection of garbage

 

Empleos.io (PLEO) Sale Starts November 15 Sale Ends December 5 / A new technological platform that brings Blockchain, Machine Learning, and a Rewards system into the online recruiting market

 

Javvy (JVY) Sale Starts November 15 Sale Ends May 14, 2019 / The full integration of a universal wallet connected to numerous exchanges presently available to the cryptocurrency market

 

Prime Shipping Foundation (PSF) Sale Starts November 15 / Sale Ends December 1 / The world’s first payment ecosystem for shipping, residing 100% in the Blockchain

 

Verifier (VRF) Sale Starts November 15 Sale Ends December 15 / An innovative technology designed to verify identity, events, deals, and any other kind of data

 

Vidion (VIDI) Sale Starts November 15 Sale Ends December 15 /  The first platform for open independent video-journalism developed on the blockchain technology

 

Virtual Rehab ( VRH) Sale Starts November 15 Sale Ends December 14 / An evidence-based solution that leverages the advancements in virtual reality, artificial intelligence, and blockchain technologies for pain management, prevention of substance use disorders, and rehabilitation of repeat offenders

 

Click here for 21st Money’s complete list of upcoming and ongoing ICOs

Crypto News, Analysis, Forecasts, ICOs and Events for the week ending 11/2/2018

21st Money News Letter



Crypto News & Analysis

Coinbase raises US $300 million but will remain a private company. Coinbase is the most popular cryptocurrency exchange in the USA. It may also be one of the top 3 cryptocurrency exchanges in the world. There were reports and rumors that this crypto exchange would become a public entity in the next few weeks. But the President of Coinbase, Asiff Hirji says no, “There’s not going to be an IPO any time soon.”

 

Coinbase successfully raised $300 million through private Series E funding. Many analysts and journalists speculated that an Initial Public Offering (IPO) would be coming shortly after. According to the Coinbase President, their predictions were way off the mark. Mr. Hirji made his remarks, on the Crypto Trader Show, saying at this point in time, “We (Coinbase) have so much to do,”  and other comments regarding how the company needed to grow. He described the most recent funding as a pre-IPO funding. Although his remark did intimate that an IPO is coming. The answer to the question, when, is still unknown.

 

Mr. Hirji said that of the 3,000+ cryptocurrencies publicly traded 300 of them are potentially investment worthy. Coinbase is active in only seven cryptos. Mr Hirji stated that the revenue stream of the exchange needs to increase. He continued his statement saying Coinbase should be able to facilitate trading in at least 200 or 300 of the most investment worthy cryptos. This is just one of the things on a list of many things to do before Coinbase would consider going public. Mr Hirji felt the accomplishment of the company’s goals could take place within the time frame of one year. This could also be the new time frame for their IPO announcement. As with the progress of many other factors relating to the advancement of the cryptocurrency markets, we will all just have to wait and see.

 

Forex News & Analysis

 

Bitcoin continues to hold the line. The crypto currency continues to maintain a value above its lower level of resistance, near US $6,200, throughout this week. The United States Dollar gained value against Bitcoin this week. The USD started the week pairing with Bitcoin at an exchange rate of $6402/ 1 Bitcoin. The pair ended the week exchanging at a rate of $6365 / 1 Bitcoin. The USD recorded a 0.58% increase in value when paired with Bitcoin by the weeks end.

The USD index (.DXY) compares the USD to 6 globally dominant currencies. The USD lost marginal ground when compared to its global counterparts towards the end of the week. The .DXY index recorded a value of 96.58 at the beginning of the week. The Index closed at 96.50 recording a 0.08% loss in value by the week’s end.

 

The GBP gained ground against the USD from the previous week. The dollar ended the week exchanging with the GBP at $1.2971 gaining 0.01% from the previous trading day. The GBP may climb higher as optimism about a smooth Brexit has been reported by the media. The Mexican Peso(MXN) continues to show strength in the marketplace. The MXN ended the week marginally stronger when compared to the GBP, exchanging with the GBP at 25.9731 Pesos / 1 GBP a 0.01% increase in value from the previous trading day.

 

Crypto Futures News & Analysis

 

A landmark ruling by the Chinese court propels Bitcoin closer to the hands of mainstream Chinese citizens. The Shenzhen Court of International Arbitration has ruled in favor of Bitcoin. The court has determined that Bitcoin can be viewed as property. Furthermore it is now officially legal for Bitcoin to be accepted as payment for goods and services by Chinese merchants. This event can be looked upon as a milestone accomplishment for the advancement of Bitcoin and cryptocurrency.

 

Prior to this court ruling, the Chinese government had effectively banned most Chinese citizens from transactions involving Bitcoin and other cryptocurrencies, within the borders of China. The significance of Bitcoin becoming legal within China is huge. China has the world’s largest population of consumers and is the world’s #2 economy. Any portion of the Chinese population added to the pool of investors already involved in Bitcoin, will add more liquidity and market presence to the blossoming crypto market.

 

The Arbitrators decision centered around these fundamental principles of Bitcoin and other cryptocurrencies.

 

  • Bitcoin has intrinsic economic value,
  • It can be controlled by the owner,
  • It has the characteristics of a property,
  • Paying with or holding Bitcoin is not illegal.

 

Many have speculated concerning the reason the government imposed the ban in the first place. Some say the ban was imposed to prevent Bitcoin from devaluing the Chinese Yuan. Others speculate that it needed to be controlled by the right people before it was given to the masses. Be that as it may, Bitcoin will be able to be used by all Chinese citizens while they are at home in their living rooms, at some point in the near future.

Bitcoin continues to demonstrate stability. Bitcoin has maintained a value above its lower resistance threshold of US $6,200 for another week. Ending the week at $6365 / 1 Bitcoin.

Crypto Stocks & Analysis

 

IBM is in the headlines once again. IBM goes all in at the poker table. Rolling the dice and proposing to purchase Red Hat Inc. for US $24 billion.

 

Red Hat describe themselves as a:

 

“Provider of open source software solutions to develop and offer storage technologies, virtualization, cloud, mobile, operating system, management, and middleware to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications; and Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments. ”  Yahoo Finance

 

Most analysts agree the move leaves IBM in a poor financial situation. IBM will be short on cash and will be wishing on the next shooting star, hoping the CEO made the right decision. Its win or lose for Big Blue, the CEO Ginni Rometty has all the chips on the table. She’s hoping the combination of blockchain patents owned by IBM and their new found presence in  cloud computing will ring the bell and answer her prayers with a solid revenue source and an end to the 7 years of negative earnings under her leadership.

 

A sinister dark cloud hangs over this deal casting shadows of uncertainty. Red Hat’s stock price was last quoted at $172.24, well below the $190 IBM has proposed to pay to own the company. Analysts are skeptical the deal will happen at the inflated price of $190 a share. Moreover whether the deal happens or not IBM is obligated to fork over $1billion to Red Hat.

 

Ms. Rometty claims the deal will make IBM the number 1 hybrid cloud provider. A hybrid cloud consists of cloud data storage and computing capabilities. Rometty has bet her continuance as IBM’s CEO on the combination of blockchain technology combined with hybrid cloud services. Investors and analysts are doubtful this combination can put IBM back in the black.  

 

This week’s Biggest Winners in Cryptocurrencies

 

1) +120.69%  CloakCoin (CLOAK) Started the week at $2.765 Ended the week at $6.102

 

2) +114.32% Telcoin (TEL) Started the week at $0.00049953 Ended the week at $0.00107058

 

3) +44.14% Dentacoin (DCN) Started the week at $0.00021880 Ended the week at $0.00031537

 

4) +39.73% TokenPay (TPAY) Started the week at $1.178 Ended the week at $1.646

 

5) +32.26% SirinLabs (SRN) Started the week at $0.0747 Ended the week at $0.0988

 

6) +31.29% Agoras Token (AGRS) Started the week at $0.441 Ended the week at $0.579

 

7) +29.59% BOScoin (BOS) Started the week at $0.0507 Ended the week at $0.0657

 

8) +27.87% SelfKey (KEY) Started the week at $0.00633644 Ended the week at $0.00810235

 

9) +27.53% Mainframe (MFT) Started the week at $0.00846874 Ended the week at $0.0108

 

10) +26.97% Republic Protocol (REN) Started the week at $0.0330 Ended the week at $0.0419

 

11) +21.77% Odem (ODE) Started the week at $0.147 Ended the week at $0.179

 

12) +19.11% Basic Attention Token (BAT) Started the week at $0.246 Ended the week at $0.293

 

13) +17.86% Po.et (POE) Started the week at $0.0112 Ended the week at $0.0132

 

14) +14.73%  ChainLink (LINK) Started the week at $0.448 Ended the week at $0.514

 

15) +12.75% Centrality (CENNZ) Started the week at $0.0408 Ended the week at $0.0460

 

Crypto Chart of the Week

CloakCoin (CLOAK)

CloakCoin Chart 11:4:2018

Chart Courtesy of Coinlib

 

CloakCoin is an open-source blockchain platform that  puts their focus on speed and anonymity in cryptocurrency trading. Its PoW (Proof of Work) block reward is currently 496 coins and stops within seven days while its PoS (Proof of Stake) gives ROI of 6%  annual interest. The platform promises fast transactions, with a block limit time of 60 seconds. The transactions are also untraceable thanks to the platform’s onion-routing privacy that is set to default. Security is state of the art due to the d-to-end encryption that enable nodes to avoid traffic analysis. The system also uses 25 hops, that utilize symmetric RSA encryption with ECDH key as a back-up.

 

Heard Through the Grapevine

Upcoming ICOs and Events

 

Upcoming Events

 

November 8 – 9 – STABLE CONF 2018 Budapest, Hungary

 

November 28 – 29 – Blockchain Expo North America 2018 Santa Clara, California

 

November 29 – 30 – Monaco International Blockchain Forum Monaco

 

March 19 – 21, 2019 –  Money20/20 Asia Singapore

 

Upcoming ICOs

 

2TF (2TF) Sale Starts November 2 Sale Ends November 24 / A mobile global payment platform with decentralized principles where users transact directly through the use of stable price cryptocurrencies and smart contracts

 

CryptoCasher (CRR) Sale Starts November 2 Sale Ends March 2, 2019 / Allowing buying or selling of cryptos for cash safely and quickly with a 3rd party escrow service

 

Bitdollar Fund (BTD) Sale Starts November 3 Sale Ends December 29 / The world’s first collectively managed fund

 

ProxiShares (PRX) Sale Starts November 4 Sale Ends November 20 / An industrial-level asset location, surveillance and monitoring software suite on the Ethereum blockchain

 

ArtPro (APT) Sale Starts November 5 Sale Ends December 14 / making it easy for anyone to buy and sell art over the web

 

Aurum (AURUM) Sale Starts November 5 Sale Ends December 31 / An online marketplace facilitating the auction of jewelry and watches with an opportunity of appraisal by the Aurum service centers specialists

 

Bonafi (BONA) Sale Starts November 5 Sale Ends December 23 / Authenticating the Supply Chain Using Blockchain Technology

 

Geeba (GBA) Sale Starts November 5, 2018 Sale Ends January 2, 2019 / Developing a decentralized delivery ecosystem that enables businesses to operate deliveries with autonomous vehicle and smart hubs

 

RainCheck (RAIN) Sale Starts November 5 Sale Ends December 5 / Created to influence and measure the high level of online product discovery/research and to connect those findings with the corresponding in-store sales transaction

 

TrustaBit (TAB) Sale Starts November 5, 2018 Sale Ends January 5, 2019 / Using blockchain technology with smart contracts to automatically issue flight vouchers to passengers when their flights are delayed

 

Sentigraph.io (EMOT) Sale Starts November 9 Sale Ends December 10 / An innovative Early Stage Startup with an objective of helping businesses and individuals gain unique insights, and make good decisions based on the feelings of customers or peers in a social network like Twitter

Click here for 21st Money’s complete list of upcoming and ongoing ICOs

Crypto News, Market Forecasts & Charts, Crypto Related Forex, Upcoming ICOs & Crypto Events

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