Crypto Market Report 001 and Is Bitcoin a Bubble?

This is the Crypto Market Report brought to you by Neocash Radio dot com.

Is Bitcoin a Bubble? Is this like the dot com boom and bust? A critical look at these ideas and more following the Crypto Market Report.


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Crypto Markets are down across the board.

Bitcoin is seeing sub $2000 prices with Poloniex leading the exchanges on volume with the Ripple and Ether pairings on top. The Poloniex BTC/USDT pairing dropped as low as $1600 earlier today. Koreans are still paying a premium with Korean exchanges showing prices over $2400.

Looking at Ethereum, Korean exchanges are topping the volume charts with 30% the market volume and a price premium of $180. The latest news is that one of the biggest Chinese exchanges Huobi is adding Ether today.

Dash is back under $100 but just as bitcoin and Ethereum, Korean exchanges are trading at $120.

Most other coins and tokens are down 20-45%


There are many like it but I’m linking to a recent Forbes article that begs the question is Bitcoin a Bubble? I will attempt to answer it for bitcoin and crypto currencies at large. No, it is not a bubble. As we discussed in episode 208 of Neocash Radio, what you are seeing is the next stage of mass adoption, not the iphone in every hand stage but an earlier stage. Think the first wave of internet capable phones. You know the 1x years where internet was text based and highly pixelated. That’s the stage that crypto is in now. The User Interface of most clients is unrefined and strictly functional. Just installing the software for some coins requires a modicum of IT knowledge and confidence. It’s rough, it’s sometimes dirty, and it can be challenging but it works. It works so well that we have a massive influx of new users and new money.

The dot com bubble saw a rise in financing for a vast array of internet ideas and solutions. Many of which did not pan out. In that sense this is exactly like the dot com scenario. You have hundreds of blockchains competing for a piece of the future pie. Many of the projects have little more than a minimal viable product. Some have little more than a white paper. Many will fail and several others will usher in a new age of digital humanity.

There are many differences between the dot com era and today. For one, with many blockchains you have a level of transparency that allows anyone to scrutinize every transaction. Secondly, the software is open source and is often reviewed by numerous experts. Third, the core community is a tenacious, intelligent and often unforgiving. Many in the community have seen or felt the sting of a scam, rip off, or simply a bad trade. They will see the red flags and they will shout. There are very few places to hide and the fickle marketplace can giveth just as quickly as it taketh.

As I mentioned in the Crypto Market Report, Coinbase has had a massive influx of new accounts each potentially bringing with it a fiat to crypto transaction. The crypto markets are being flooded with fiat from many as of yet untapped sources like Korea, Japan, and Australia to name a few. JPMorgan, Toyota, and Fidelity are also investing in blockchain technology. This is not a bubble. It is the next wave of mass adoption. This trend will continue. This is my imperfect forward-looking assessment:

  • There will be a surge upward that generates news and attracts new money
  • New traders buy in pushing the trend higher
  • New heights cause a mix of euphoria and trepidation
  • The wave crests – a decline will happen locking most of the money in the market (who wants to sell for a loss right after getting in?)
  • Repeat but now those new traders are seeing gains – some cash out and are replaced by new money, some double up

Its organic, massive, and nigh unstoppable. Welcome to the future.


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Neocash Radio has been at the forefront of crypto currency news coverage since 2013. We are self funded, independent, and the show comes out every Wednesday and runs anywhere from 30 to 60 minutes. We cover all the coins, tokens and chains. Subscribe to our podcast on Google Play Music / iTunes / Soundcloud / Stitcher / iHeartRadio / YouTube / Podcast Addict and more!

Ep181: Donald Trumps Clinton, the U.S. media is corrupt, LBRY CEO Jeremy Kauffman is in-studio

Donald Trump beats the corrupt U.S. media to win the presidency. Clinton Foundation received money from countries they knew were funding ISIS/ISIL. China is crumbling under its own weight. BTCC adds a USD/BTC trading platform to its exchange services. Bitmain is going to build a massive Bitcoin mining facility in China. Rumors about China studying way to limit Bitcoin transactions. Tesco Bank suffers a hack that effects 20,000 accounts. Alt-coins and their often brief lifespan. Arcade City founder Christopher David steps down. JJ and Randy talk to LBRY CEO Jeremy Kauffman.

All this and more on Neocash Radio episode 181 here on Wednesday November 9th, 2016!


Dr. Darren Tapp is recovering from the election day madness; he will be back in studio soon! Today, we’re joined by special guest Jeremy Kauffman, founder and CEO of LBRY. LBRY is a blockchain based content distribution protocol.

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Randy, and Jeremy!

Stream this episode:

or Direct Download the MP3 – Neocash Radio Episode 181


Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!

Subscribe to Neocash Radio
on iTunes / SoundcloudStitcher / YouTube and Google Play Music!
We’re also on Tunein, Player.FM, Overcast.FM, Podcast Addict, Blubrry, and more!


Traditional Markets Crypto Markets
Gold $1278 Bitcoin (BTC) $722
Silver $18.42 Litecoin (LTC) $3.81
Oil $45.37 Ethereum (ETH) $9.75
Dow Jones 18,589 points DASH $9.75
30Y UST Yield 2.81% Monero (XMR) $5.87
Euro (EUR) $1.09 STEEM ~$0.142
Chinese Yuan (CNY) $0.15 AMP ~$0.106
British Pound (GBP) $1.24 1 Doge = 1 Doge

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Episode 167 – A First Look at Steemit and Silbert Announces ETC Pump and Dump

Randy joins us in studio. Bitfinex suffers a massive loss in bitcoins due to a hack and is talking about socialized losses. Barry Silbert announces a pump dump for ETC. Japan is the first to Quantitative Ease for stimulus. Kim dotcom announces Mega 2.0 and bitcache. Be on the look out fr fake bitcoin wallet applications on the Apple Store. The Brave browser may eliminate ads as we know them. Jaxx integrates Dash. We talk with Randy about a first look at Steemit.

 

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Episode 154 – The Ethereum DAO Is Now Live

Puerto Rico is facing dark times at their debt crisis grows more dire. Valve’s Steam video game platform now accepts Bitcoin for their more than 125 million users. CoinDesk’s Consensus 2016 Conference looks to have a few surprises. A Russian bill seeks to outlaw bitcoin use and jail users. Japan unveils their first blockchain consortium. Plutus combines bitcoin and ethereum as they offer their initial crowd sale. A look at the Ethereum Project’s The DAO. Finally a review of Dash.

 

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Traditional Markets

Gold up $1293

Silver up $17.82

Oil down $39.59

DOW down 17,773

30Y UST down 2.6796%

 

Crypto Markets

BTC down $449

LTC  up $3.69

Dash up $6.77

Ether up $8.60

Doge 50 satoshis

 

News

Puerto Rico on the brink of default

http://www.nytimes.com/2016/04/30/business/dealbook/washington-still-haggling-as-puerto-rico-debt-deadline-looms.html?_r=0

Steam now accepts bitcoin

http://www.theverge.com/2016/4/28/11525482/bitcoin-steam-valve-bitpay

CoinDesk’s Consensus 2016 Conference starts on Monday.

http://www.coindesk.com/10-must-see-moments-consensus-2016/

Russian bill will jail bitcoin users

http://qz.com/672780/russia-is-considering-legislation-that-would-send-bitcoin-users-to-jail-for-up-to-7-years/

Japan’s first Blockchain Industry Consortium is formed

https://www.cryptocoinsnews.com/japan-sees-new-blockchain-industry-consortium-established/

Plutus announces crowd sale

http://www.ibtimes.co.uk/ethereum-bitcoin-payment-provider-plutus-announces-token-crowd-sale-1557525

Ethereum DAO is now live

http://themerkle.com/ethereum-project-the-dao-is-now-live/

A look at DASH

http://bravenewcoin.com/news/dash-the-anonymous-evolution-of-bitcoin/

Episode 151 – Open Bazaar Developer Chris Pacia

Open Bazaar Lead Back-end Developer Chris Pacia joins us in-studio to talk about OB and his viral video about the 1.4 Million dollar TSA app. The Panama Papers drop a bombshell on the elite. Senate Bill seeks to destroy strong encryption in the United States. Japan runs out of Bonds to sell.

 

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Episode 149 – BitPay Offers A BIP and Japan Looks to Tax Bitcoin

BitPay presents a BIP to solve the blocksize debate. Japan has bills in process to recognize bitcoin and tax it. The NSA will be giving warrantless wire-tapped communication data to Domestic policing agencies for non-terrorism related cases. Venezuela tells workers to stay home in order to conserve power. Ethereum updates and a first look at Expanse.

 

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Episode 141 – ISIS is a Boogieman Created by the US Government

Venezuela’s economic and governmental collapse is speeding along. Puerto Rico is in trouble financially. Japan introduces negative interest rates for commercial banks. More lies about ISIS debunked. Russia suffering from protests and economic woes. The Federal Reserve does not raise interest rates. The New York BitLicense was not enough now the parasites are looking at a second license.

 

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Episode 70 – Scotland and the Philippines

Scottish independence vote falls short. Japan’s central banks and easy money. Shoplifting in the United States is on the rise. Bitcoin is taking off in the Philippines. Apple restricts more features to thwart alternative payments and currencies.


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