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    Cryptocurrency Daily Discussion - July 2, 2019 (GMT+0)

    July 02, 2019

    Cryptocurrency Daily Discussion - July 2, 2019 (GMT+0)

    Daily Discussion - July 2, 2019 (GMT+0)

    Posted: 01 Jul 2019 05:17 PM PDT

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Comments will be sorted by newest first.
    submitted by /u/AutoModerator
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    My Coinbase glory days from 5 years ago

    Posted: 02 Jul 2019 01:00 AM PDT

    What if you bought and held $1000 worth of the Top Ten Cryptos on January 1st, 2018? (June 2019 Update)

    Posted: 01 Jul 2019 08:05 AM PDT

    What if you bought and held $1000 worth of the Top Ten Cryptos on January 1st, 2018? (June 2019 Update)

    ​

    EXPERIMENT - Tracking Top 10 Cryptocurrencies for Two Years (2018 & 2019) - Month Eighteen - Down 71%

    Full blog post

    tl;dr - June marked the fifth positive month in a row. Still down -71% over life of experiment. Bitcoin takes commanding overall lead and wins the month as well.

    The Experiment:

    Instead of hypothetically tracking cryptos, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. Think of it as a lazy man's Index Fund (no weighting or rebalancing), less technical, more fun (for me at least), and hopefully still a proxy for the market as a whole - or at the very least an interesting snapshot of the 2018/2019 crypto space. I'm trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet.

    I have also started a parallel project: on January 1st, 2019, I repeated the experiment, purchasing another $1000 ($100 each) into the new Top Ten cryptos as of January 1st 2019. Spoiler alert: it's a night and day difference between the two experiments.

    The Rules:

    Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment two years. Hold only. No selling. No trading. Report monthly.

    Month Eighteen - Down 71%

    https://i.redd.it/ssk1c0h8hp731.png

    Despite steady growth all month, the end of June ended on a downward trend. The final month-end numbers are still up from last month, but just barely, despite the excitement of Bitcoin briefly approaching $14,000. In fairness, May 2019 was an incredibly strong month in crypto - very hard to beat. The experiment has now seen five straight months of gains.

    Ranking

    https://i.redd.it/0hhyglmahp731.png

    Lots of movement in June, most of it downward. IOTA slipped three places from #15 to #18, Stellar fell two spots and out of the Top Ten to #12, and both NEM and Dash dropped a slot to #21 and #15 respectively.

    On the positive side, Cardano re-entered the Top Ten, moving two places from #12 to #10. And the most significant move this month was probably Litecoin switching places with Bitcoin Cash. Litecoin now sits at #4, Bitcoin Cash at #5.

    NEM, Dash, IOTA, and Stellar are Top Ten dropouts - they have been replaced by EOS, Binance Coin, Tether, and BTCSV.

    June Winners - Bitcoin dominated the headlines for good reason - even after a significant correction at the end of the month, it is still up 30% in June. ETH finished second, up 13%, followed by Litecoin, up 10%.

    June Losers - For the third month in a row Stellar was the worst performer, down -20% followed by IOTA, down -13% in June.

    For those keeping score, here is tally of which coins have the most monthly wins and loses during the first 18 months of this experiment. Most monthly wins (3): Litecoin and Bitcoin. Most monthly loses (5): Stellar.

    https://i.redd.it/2yzr97uchp731.png

    Overall update – Bitcoin increases lead and approaches break-even point. NEM and IOTA still at the bottom.

    Bitcoin followed up its stellar May with a very strong June. It is now only down -16% since January 2018 and is approaching the break-even point. Litecoin is a very distant second at -43% since the experiment began.

    NEM is still the worst overall performer (down -90%) followed by IOTAwhich is down -88% and ADA down -87%. My initial $100 investment in NEM is worth just $10.03.

    Total Market Cap for the entire cryptocurrency sector:

    https://i.redd.it/mj9h8bmehp731.png

    The total crypto market cap increased about $50B in June, a significant gain, but only half of what it added in May. Overall, the experiment has crossed the -50% threshold and is down "only" -44% at the moment, a level we haven't seen since June 2018.

    Bitcoin dominance:

    https://i.redd.it/vj7tea2ghp731.png

    Bitcoin dominance now stands at 61.4%, easily the highest point so far in the experiment.

    Overall return on investment from January 1st, 2018:

    https://i.redd.it/52x70aohhp731.png

    My Top Ten of 2018 portfolio increased about $15 in total value this month. I can now mark five months in a row with increasing total value, a new record in the experiment.

    If I cashed out today, my $1000 initial investment would return about $295, down -71%.

    Implications/Observations:

    Although BTC is up +30% and the overall market added $50B, my Top Ten experiment cryptos only gained about +1.5%. It's fair to say that Bitcoin is leading the charge and that the altcoins haven't had their day yet.

    Although gains in June were modest, this is now the fifth positive month in a row for the 2018 Top Ten, unprecedented thus far in the experiment.

    Once again this month marks a record high in Bitcoin dominance, the highest since the experiment started in January 2018, over 61%.

    Bitcoin continues to increase its overall lead. After eighteen months, it is now 25% ahead of second place Litecoin in terms of return on initial investment.

    The experiment's focus of solely holding the Top Ten again looks like an especially poor strategy this month. While the overall market is down -44% from January 2018, the cryptos that began 2018 in the Top Ten are down -71% over the same period of time. That's over a 25% difference, is the widest gap of the experiment so far, and is significantly more than last month's record 20% difference.

    At no point has this investment strategy worked: the initial 2018 Top Ten have under-performed every single month compared to the market overall.

    I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. The S&P 500 is now up +10% since the beginning of 2018. My initial $1k investment into crypto would have yielded about +$100 had it been redirected to the S&P.

    https://i.redd.it/j2m6mcnjhp731.png

    Conclusion:

    Last month I ended my update wondering if Bitcoin would hit $10k, which it flew by. With still relatively little mainstream attention, is $15k attainable in the near term or are we back to moving sideways? How much longer can BTC sustain its momentum? And when its exhausted, will the alts see a bounce?

    Thanks for reading and for supporting the experiment. I hope you've found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel project:where I repeated the experiment, purchasing another $1000 ($100 each) of the new Top Ten cryptos as of January 1st 2019.

    submitted by /u/Joe-M-4
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    Binance announces futures trading platform with up to 20x leverage

    Posted: 01 Jul 2019 10:26 PM PDT

    TD Ameritrade-Backed ErisX Gets Green Light to Settle Futures in Bitcoin - CoinDesk

    Posted: 01 Jul 2019 02:30 PM PDT

    Cryptojacking, also known as malicious cryptomining, is one of the biggest threats to cryptocurrency investors. How it works and how you can prevent It

    Posted: 02 Jul 2019 01:09 AM PDT

    In the 1960s, we had many computer networks. These networks did not talk to one another. It wasn't until 1982 when we brought them together and got: The Internet. 'We want to bring all the different blockchains together into one network. We think this will trigger another blast of innovation'

    Posted: 01 Jul 2019 11:03 PM PDT

    AMA with dBFT creator and NEO Founder Erik Zhang on Hackernoon - July 7/02/2019 @7:30 PM PST

    Posted: 02 Jul 2019 03:17 AM PDT

    Genesis Vision has partnered with EXANTE to allow crypto investors access to stocks, derivatives and ETFs

    Posted: 02 Jul 2019 02:30 AM PDT

    $100M Cryptocurrency Data Center in Colorado Is Met with Controversy, As It Would Potentially Violate Local Renewable Energy Goals

    Posted: 01 Jul 2019 10:20 AM PDT

    I created the Nano Newsletter, an in-depth analysis of Nano!

    Posted: 01 Jul 2019 10:45 AM PDT

    Summer sale has arrived!

    Posted: 02 Jul 2019 01:24 AM PDT

    Since a LOT of people still dont know that 100M Satoshi equals 1 Bitcoin. No you dont need to buy a full Bitcoin to start investing

    Posted: 01 Jul 2019 08:08 AM PDT

    ErisX on Target to Launch Physically Settled Bitcoin Futures in H2 2019

    Posted: 02 Jul 2019 02:09 AM PDT

    Tether minting has moved mostly to Ethereum/ERC20 and away from Bitcoin/Omni — because Ethereum actually works.

    Posted: 01 Jul 2019 07:59 PM PDT

    Buy ETH & NEO with your Credit Card on Switcheo!

    Posted: 02 Jul 2019 12:14 AM PDT

    Almost 2 years accepting Crypto Currency

    Posted: 02 Jul 2019 01:13 AM PDT

    Guys I post time to time to keep the community that helped start our brand launch off. Again thank you, almost coming on 2 years accepting cryptocurrency. Times have been great and am forever grateful for this community. As a thank you we're offering a bogo deal. Order 2 bags or more and we'll give you 2 free bags. Just type "BOGO" at checkout. We'll match the order or add 2 extra bags to the order.

    www.TongJerky.com

    submitted by /u/xxthey
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    Central banks may issue digital currencies 'sooner than we think'

    Posted: 01 Jul 2019 09:50 PM PDT

    Unprofessional Tweet Dumped the Price 25%

    Posted: 01 Jul 2019 08:58 PM PDT

    Robinhoon crypto question?

    Posted: 01 Jul 2019 10:32 PM PDT

    If I have under 25k can i trade multiple times a day on robinhood if I am buying and selling crypto?

    I know for stocks and options you need 25k or you will be flagged as day trader and be restricted.

    Does the 25k PDT rules affect crypto as well?

    submitted by /u/Ibeepboop87
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    Theta/TFuel edge cacher beta released! Run the client to earn TFuel for sharing your bandwidth, not staking required

    Posted: 01 Jul 2019 10:03 PM PDT

    IEO Vs STO Vs ICO; a comparison of tokenized fundraising. Which one is better?

    Posted: 02 Jul 2019 01:39 AM PDT

    Norwegian crypto exchange wants to force users to sell their cryptocurrencies

    Posted: 01 Jul 2019 03:24 PM PDT

    World’s first Online IDE supporting Libra now launched, IOST ready for integration on Libra ecosystem.

    Posted: 02 Jul 2019 04:11 AM PDT

    Developed by White Matrix, an IOST Partner Node, ChainIDE becomes the first online IDE supporting Move, the programming language utilized by Libra. It enables developers to efficiently utilise this new language.

    IOST's online IDE can support Ethereum's Solidity and Libra's Move, meaning that data, assets and other information among the three chains can better exchange. Powered by IDE, IOST integrated itself into Libra ecosystem prior to other mainnets, making it possible to enhance our brand presence among 2.7 Billion Facebook users

    This and more news in the IOST weekly news report..

    https://medium.com/iost/iost-bi-weekly-report-multiple-partnerships-ready-big-plans-coming-up-7d21c6500d54

    submitted by /u/Ton1206
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