Ep209: ICO Elevator Caps Because Moar, Crypto Trading Common Sense, Ethereum and China

In this episode we talk at length about cryptocurrency trading and the perils that it could involve. Our show should not be considered investment advice to buy or sell or hold anything. The coming sea change will include a lot of success and at least some failure. Using the term “Investing” is a misnomer. Contributing to blockchain start-ups and projects ought to be better described as “Gambling”. We also talk about: The Brave Browser’s BAT token sells out in the space of 3 Ethereum blocks raising $36 Million in 24 seconds. Elevator Caps seem to be the new trend with token sales. The difference between Initial Coin Offering and Token Generation Event. This website keeps track of the success of tokens and coins against ETH and BTC. The Status Network might just be the glue that bonds the ethereum users, dapps, and more. Two massive chinese Bitcoin exchanges Huobi and OKCoin add Ethereum trading. The Ethereum Network has three times as many nodes as the Bitcoin network.

All this and more on the Neocash Radio podcast, episode 209 — Wednesday, May 31th, 2017!

Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Pedro!


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ICO Madness as BAT Sells out in 24 Seconds

We talked about Brave Browser’s recent switch from BTC to ETH on Ep200, and we first discussed Brave Browser on Ep167 way back in August!

Most notably was the incredibly small number of participants. The Token Generation Event raised $36 Million in 3 Ethereum blocks and blocks were found fast: just 24 seconds! The entire 1 Billion tokens are consolidated among just 190 addresses.

Leading up to the TGE there were some on reddit upset at the numerous last minute changes. Over a month ago the BAT team announced the fundraising goal of $15 Million with a cap of 1 Billion tokens. The goal was changed to $24 Million 9 days out with the reason being, ‘why not moar?’. Two days prior to the sale date the contract was deployed with an exchange rate based off 1 ETH = $153 of 1 ETH for 6400 BAT. In the end they raised $36 Million worth of ETH and presumably rising, more than 2 times their original goal.

This trend of token sales with elevator caps has seen Mystereum raise their cap from 10 to 14 million and sell out in 40 minutes. Storj raise their cap just prior to the token sale, Status had initially planned a cap of $10 million but that has changed to a $12 Million soft cap with hidden hard caps?

One thing is for certain, as overall market cap of cryptocurrencies crests $80 Billion there is a lot of funding available for a myriad of blockchain-based ventures. Especially if you can hype and have friends in high places.


I just want to take a moment and point out that an ICO is the term used for the launch of a new blockchain. The launch of a new token is actually termed a Token Generation Event. These are distinctly different events. Initial Coin Offerings refer to new blockchains spawning – these sort of events often require more resources and commitment. Token Generation Events often the creation of a mass of tokens that will be used on top of an existing and often well-established blockchain. The case of the tokens we talked about earlier in the show, Ethereum is the blockchain they are on.


ICO vs ETH

Some of the ICO/TGE are looked at as get rich quick schemes. In fact, a chunk of investors buy big into the initial offering only to sell it for double or more as soon as it is on the market. This site looks at the historic data and compares Bitcoin and Ether to dozens of other blockchains and tokens.


The Status Network

A ‘socio-economic network’ based off of a private messaging platform. The network runs on a Mobile OS built for Ethereum and the coming Token Sale will sell off the Status Network Token starting June 17th.

SNT will be used to power the Status Client, including:

  • Governance of the Status Client
  • A Decentralized Push Notification Market
  • Community Curation of Content, powered by UserFeeds.io
  • Fiat-to-crypto ‘Teller Network’
  • DApp Directory
  • Sticker Market
  • Access to new features such as Tribute to Talk
  • Powering the Status User Acquisition Engine

The Status network aims to connect users, apps, market functions and more all through a discrete messaging service.


Chinese Digital Currency Exchanges Huobi And OKCoin To List Ether

ethnews.com

Starting May 31, Ether will be offered on both the Huobi and OKCoin exchanges in China.

The Huobi digital currency exchange has announced that Ether will be available for trading on its platform starting May 31, 2017, at 12:00 (GMT+8). The first of China’s “Big 3” digital currency exchanges to offer Ether, Huobi’s announcement on May 27 could potentially have already contributed to the recent spike in the price of Ether, which saw a same day recovery of 40 percent. Per Huobi’s official twitter account, “There are many aspects of Ethereum that could outperform bitcoin, such as scalability, cost, [and] speed.”

OKCoin, Huobi’s main rival, will begin offering Ether at 22:00 (GMT+8) on May 31 as well; while Ether trading will officially commence on June 1. Last year’s decision by China’s Big 3 (BTCC being the third) to forgo listing Ether prompted many Chinese investors to use workaround trading strategies, such as buying bitcoin and using ShapeShift or other exchanges to convert it into Ether. If true, this type of buying might have created an artificial relationship between bitcoin and Ether which could potentially dissolve now that Chinese consumers can purchase Ether directly.

GDAX is a US based exchange that has recently added EUR/ETH and EUR/LTC pairs


Ethereum now has three times more nodes than Bitcoin

Trustnodes.com

The ethereum network has nearly 25,000 reachable nodes, spread across the globe, less than two years after its launch, while bitcoin currently has only around 7,000 nodes that verify the network.

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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!

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The Poloniex Pumphouse, Can Rootstock Save Bitcoin, Ethereum is Catching Up

Can Rootstock save bitcoin from the depths of Mempool hell? Bitcoin’s market dominance has fallen. Poloniex pump and dump trends and a warning to crypto traders. Listener mail from NXT’s director of marketing. Shapeshift is going to switch to a smart contract model. Ethereum reaches 50% of bitcoin’s transaction volume. Enterprise Ethereum is going strong. TokenCard talk with a reddit AMA with the founder Mel Gelderman.

All this and more on the Neocash Radio podcast, episode 207 — Wednesday, May 17th, 2017!

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, Darren, and Pedro!


Stream this podcast episode:

or Direct Download this episode as an MP3 – Neocash Radio cryptocurrency podcast ep207


Tune in to Neocash Radio every Wednesday night and
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We’re also on Tunein, Player.FM, Overcast.FM, Podcast Addict, Blubrry, LBRY and more!


Traditional Financial Markets Cryptocurrency Markets
Gold $1,260 Bitcoin (BTC) $1,820
Silver $16.86 Ethereum (ETH) $89.05
Oil $48.99 DASH $82.87
Dow Jones 20,641 points Zcash (ZEC) $91.81
30Y UST Yield 2.906% Monero (XMR) $27.80
Litecoin (LTC) $24.04

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Episode 67 – International News and More

Argentina set to print a lot of pesos to manage debts. A trading bot is running wild on BTC-e. Charlie Shrem takes a plea deal. Ecuador and India round out the show with monetary policy news.  How to earn a free millibit.

 

 

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Episode 58–Jerry broke into the studio

Jerry broke into the studio, and called JJ.  He knew that Darren would be a porcfest this week, so he took the initiative.  Jerry proceeds to advertise his patented technology.  Jerry explains that buying low and selling high can increase your wealth no mater what it is that you’re buying low or selling high.  It’s unclear on how Jerry will cash in on his patent.

 

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