Bitcoin’s Price Is About To Do Something – PART TWO

Source: Pixabay

 

A week ago I posted this post, predicting a bull run based on the market’s sideways movement. Here is my followup and short summary of the price changes since then.

 

At the time Bitcoin was sitting at around $6,380; it preceded to drop $200 the next day and then climb to $7,450 in the following 6 days, increasing in price by about $1,100 (more than double my guess of ~$500ish). However, given the fact that we’ve sort of plateaued I do not see this bull run lasting all that much longer (and then what it will do after that I have no idea).

 

As always though, remember this isn’t financial advice. I’m just a random guy on the internet speculating.

 

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

Bitcoin’s Price Is About To Do Something (and hopefully it’ll be a bull run)

Bitcoin’s Price During The Past 7 Days

source: coinmarketcap.com

Quick Post Today:

As I have been known to say, whenever we see a a sudden change in price followed by a short period of time with no change in price there is almost always a sudden Bull or Bear run. As you can see, we appear to be gearing up for that run of some sort.

 

Given that Bitcoin has hovered slightly over 6k (which appears to be Bitcoin’s glass floor) the last few days I would hypothesize that that sudden change is going to be a Bull run (perhaps a jump of around 500$ in price); of course we also have to keep in mind the chance that Bitcoin has a bear run and ends up at around ~5k, although I think that is unlikely.

 

As always though, everybody is wrong sometimes and I’m no exception. Watch the market, do your own research, and place your bets carefully. Good Luck!

 

A note to my regular readers:

Like I said in my last post I’ve been fairly busy lately and writing has taken the back burner. This is the reason that the last two posts of mine have been short and spread out. Hopefully I can resume my normal pace soon.

 

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

How To Stake PIVX

Yesterday I posted a spotlight on PIVX and promised that my next post would be instructions on how to stake the PIVX you own. Well, this is that post.

 

Step 1: Download The Wallet

Head to pivx.org/wallet/ and download the wallet (or check your repository on Linux). Although there are light wallets and a mobile wallet for Android/IOS you will need a regular wallet to stake your coins.

Once it finishes just install it just like any other program. You should be able to do that, right?

 

Step 2: Basic Set Up

Now that you have installed the program, time to open it. Choose the default directory and be sure to allow “\Program Files\Pivx\pivx-qt.exe” through your firewall if you’ve got one and wait for it to load.

 

After you get past the spash screen go to settings/encrypt wallet and choose a password. Then back up your wallet and password in a safe location.

 

Step 3: Sync

Now for the longest but easiest task. In the bottom left corner it will say “synchronizing with network”. Just wait for that to finish before moving on to the next step.

 

Step 4: Funding

Now that you have a synchronized wallet with your private keys backed up you can send your funds from your exchange or other wallet to your desktop wallet. Just hit “receive” and then send to that address.

 

Step 5: Configuring

Now you need to go to Tools and click on “Open Configuration File”. Choose your favorite text editor and type “staking=1” into the doc (without the “” of course). Now save and close.

 

Finally, hit “Settings” then “Unlock Wallet”, enter your password, and check the box underneath your password. Then hit “Okay”.

 

Step 6: Done

Now just let the wallet run on your device. You can let it run in the background on your PC, or you could buy a second device (like a Raspberry Pi) to host your wallet (you could also use a VPS, but that’s sometimes risky and beyond the scope of my guide).

 

Happy Staking!

 

Conclusion:

Thanks for reading my guide, I hope it served you well. Again, if you never read it, check out my previous post so that this post does not seem quite as random.

 

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

Coin Spotlight: PIVX

Chances are you have heard of PIVX before, DASH’s not instamined clone. Lately, with DASH dropping and the market’s instability I have been keeping a close eye on PIVX; unsure what it is going to do.

 

What Is PIVX?

For anybody who does not know, DASH was “instamined” by the developers which gave them a large amount DASH right off the bat. This was a very controversial move (although, then again, what’s not controversial) and a lot of people still consider DASH to be fraudulent to some degree. Eventually, the PIVX developers decided to create PIVX from the DASH code without the instamine.

 

Some of PIVX’s features are Masternodes, Optional Privacy, and a PoS algorithm. If this is your first time looking into PIVX I would highly recommend checking out PIVX’s webiste PIVX.org and it’s whitepaper.

 

Speculating On PIVX

It is pretty hard to speculate on PIVX’s price, with the entire market suffering at the moment. However, there is a chance that with DASH dropping in value the need for a coin with similar features might bring PIVX’s price up. That’s a pretty big “might” though, and I can’t be sure about it.

 

Where Can I Get PIVX?

PIVX is a sort-of popular coin already, so it can be traded on most markets. If it can’t be traded on your favorite market though then I would check out Binance, Bittrex, Yobit, or Cryptopia to name a few decent markets.

 

Of course you’ll do your own research first, right?

 

Final Thoughts:

I have been following PIVX for a while now, and although it may be unpredictable in the short term I do expect it to have it’s moment in the sun at some point.

 

Also, if PIVX interests you then you may want to stick around for my next article which will explain how to stake PIVX and earn dividends on your coins.

 

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

The Market Is Red: Be Careful, But Expect A Rebound – PART 2

Just a follow up to my previous post that predicted a rebound after a sudden drop in the market.

Anyway, basically I was wrong; but wrong because of another event. You see on June 18th we started to see a drop in the market and I predicted that once it finished it’s course we would see a quick rebound (and then what happened after that was anybody’s guess).

 

However, some 36 hours later, right about when the rebound ‘probably’ would have happened, Bithumb got hacked and lost 31 million dollars; and hacks are never good for the market. Bitcoin is still in the red and never made the rebound I predicted, although with the news being 2 days old now I can’t imagine that this will last much longer.

 

So, long story short: yes I was wrong, but it was unexpected circumstances effecting a market-cycle prediction. Hopefully my accuracy will resume again. Sorry if anybody got burnt, but as I always say, do your own research.

 

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

The Market Is Red: Be Careful, But Expect A Rebound

Quick Post Today

Today the top 39 coins (minus tether and Binance coin) are all in the red, and most of them are in the red by 1-2% or more.

As I have been known to say, every time the entire market goes red it usually rebounds soon after. Very soon I expect expect a sudden pump as the market rebounds, although what action comes after that short rebound is a toss up. Now is one of those times that it is extremely important to keep a close eye on the market, and I would highly recommend doing so if you are not already.

Although, as always, my disclaimer: As much as I believe what I post to be true, everybody is wrong sometimes and I’m no exception; do your own research and place your bets carefully!

 

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

Ready To Tank Coins Of March 2018: A Follow Up

A note for my blog readers: I posted the original post on Steemit before I even created my blog. However, since now I’m syndicating my content across both platforms I’m posting this update on both. You can read my original post here.

Three months ago in March I posted a list of 5 cryptos that I expected to tank, or at least lose a lot of value. I know that this may seem a little late for a follow up, but this wasn’t some sort of signal based on breaking news; this was a prediction of the downfall (or beginning of the downfall) of certain coins, which takes time.

DASH (Formerly DarkCoin)

On March 6th (the day I posted the predictions) DASH was at $575. Today it’s sitting at $274.92, about 48% of it’s value when I made the prediction. I would say that was pretty spot on, right? Maybe not quite as much as I expected, but close.

ZCash

On March 6th ZCash was at $381. However, soon after I predicted it’s fall news broke out about it’s adoption, followed by a pump. However, the hype has subsided and it’s currently sitting at $207.83. Not quite what I expected, but it has decreased in price, so I guess I was not totally wrong.

ETC

On March 6th ETC was coming off a very large pump, so it’s fall was pretty easy to predict. It was at $27 on the 6th and it is currently sitting at $15.48. Not quite the drop I expected, but still a pretty big drop.

Bitcoin Gold

On March 6th BTG was sitting at $105, and like I expected, has dropped to 35% of it’s original price and is currently sitting at $37.

Litcoin Cash

I do not think that there was a trader in the world who did not see this coming. At March 6th Litcoin Cash was at $1.75 and is currently sitting at $0.05, a whopping 0.03% of it’s value at the time of my post.

Final Thoughts:

While I expected some more dramatic results from a few coins, every single coin I mentioned in that post has lost substantial value.

If you want more content by me you can always follow my by: email, on my blog, or on steemit.

XMR Due For A Bull Run? I Think So

XMR’s Price Over The Last Year

As you probably got from the title, I’m expecting Monero (XMR) to have a bull run some time during the (sort of) near future. But I won’t get ahead of myself, if you are new to crypto or XMR then let me explain what Monero is before I explain why I think it will pump.

What is Monero? Monero is a private cryptocurrency.
You see, unlike Bitcoin which has a public ledger, with Monero only you can see your balance and who you have sent to in the past. Sound like something that would attract the wrong people? While that is true, there are plenty of more legitimate reasons to want the privacy that XMR offers; especially as the value and adoption of crypto rises. You can read more about it on getmonero.com.


Is there a risk that it fades instead of pumping? I doubt it.
In the recent months we have seen older, more established coins getting bumped down from the top ten and replaced by newer coins we hardly knew anything about. Now don’t get me wrong, older coins can fade away, especially when they don’t offer too much in terms of revolutionary or unique technology; however, Monero is the anonymous coin.

It has been adopted and heavily used by privacy advocates, dark net markets, and those who don’t want their crypto wealth to be publicly known. That is something that is not replaceable in the short term. While it has lost value recently, because of the necessity of it in the crypto community (and the fact that the recently pumped coins will probably drop just as fast as they came in) makes Monero the perfect candidate for the next large pump.

Final Thoughts:
Monero really looks like it is going to pump (at least to me anyway). However, unlike a lot of coins I expect Monero to hold a lot of it’s value after the pump; so you may want to consider staying in for the long run here. Of course I could be wrong, so be sure to do your own research and place your bets carefully.

Image Credit: coinmarketcap.com & getmonero.com respectivly.

 

Update: The original date of this post is 5/31/17 and Monero was @ $156.54.

A New Twist On Lightning – A Coindesk.com Article

Today I have a pretty short post to make. I was browsing CoinDesk and came across the following article: “A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin”. It’s a news article about the protocol for the Lightening Network called “Eltoo”.

 

Of course it’s not my article so I’m not going to steal CoinDesk’s content and get into the details, but if you have been following the implementation of Lightening than this article is a must read: A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin

Dandelion: A Bitcoin Protocol to Hide a Transaction’s Origin

 

 

A bit of a confusing image above? I had to do a lot of reading myself to make sense of it, and I like to think of myself as a relatively technically inclined person.

Anyway, this is a graph of the potential Bitcoin protocol “Dandelion”. First brought to my attention by Coindesk, Dandelion is a protocol that attempts to hide origin of the node who submitted a Bitcoin transaction (don’t worry, I’ll explain that in a moment). I encourage you to go read the details on GitHub (or at least the abstract).

You see every time a node (a node being a computer running traditional Bitcoin software) makes a Bitcoin transaction it “announces” it to other nodes. While it’s necessary for nodes to do so (how else would the spread they word), it also means that another node could make note of who spread the word of the transaction and then use that information in whatever way they see fit.

This is where Dandelion comes in. To oversimplify everything, it basically shuffles the transactions between nodes, making it very hard to find out what node really submitted that transaction (now does the image make sense? It’s a bunch of transactions being shuffled between nodes). This is by no means anonymity, but it does strengthen your pseudonymity a bit; creating a hurdle for dragnet style surveillance. Best of all, this would not require a hard fork to implement, so implementation is foreseeable.

 

Final Thoughts:
Although Dandelion would not have a noticeable difference for most users, it would passively provide them a bit more privacy and create a fairly large barrier for somebody to perform mass surveillance.

Therefore I do hope that the development is successful and that we see Dandelion implemented at some point in the future.