Bitcoin Breaks Records / IOTA's 500% Gain On News / How CryptoKitties Takeover Could've Been Avoided

in dtube •  9 days ago


Story - Record Breaking BTC Stats
First a disclaimer, I hold 22% of my portfolio in Bitcoin.
So just bear that in mind as we go.

Bitcoin goes up over $2,000 in a single day.
The price has almost triple in 30 days.
https://www.coinigy.com/main/markets/BITF/BTC/USD

Meanwhile 140 MB in the mempool.
https://btc.com/

Steam gaming platform pulls Bitcoin as a payment method.
https://www.coindesk.com/steam-drops-bitcoin-payments-citing-high-fees-price-volatility/

You know I say one of the best things I like about Dash is that it operates like a business?

Well I would not at all be surprised if the business developers over at Dash capitalise on this news and contact Valve in an effort to convince them to switch to Dash.

https://twitter.com/ChrisConeyInt/status/938084325005975552

You may have noticed yesterday I Tweeted out that Dash had been added to Uphold, creating yet another direct gateway from fiat to Dash.

Disclaimer, I hold 36% of my portfolio in Dash.

Back to Bitcoin.
The danger here is that Bitcoin’s price is going up at the exact same time that adoption is moving backwards. That’s not sustainable because then there really is nothing but speculation supporting the price.

Watch this video from Crypto Investor:

In which he cites research from:
https://seekingalpha.com/author/paulo-santos/

Which suggests that only a tiny tiny fraction of Bitcoin transactions are being used for commerce.

And look, I get it, no one wants to hear this because it threatens the massive paper gains we’ve experienced with Bitcoin.

But denial of reality is a sign of emotional immaturity.

If we spent our lives running from reality and avoiding it then we never give ourselves the opportunity to engage with it.

Until we engage with the world in the way that it actually works, rather than how we want it to work, we have no power or control over our own lives.

Story - Update on IOTA
Turns out that there was some specific news that caused IOTA to go from $1 to $5.50.

https://www.coinigy.com/main/markets/BITF/IOT/USD

While the news didn’t come up in the search I did of my RSS feeds I never worry too much about this because I have 6,000 people per day watching the show so if I miss something I know I can always count on the community to fill me in.

That’s what I love about doing these videos. I especially love how kind and supportive people are when they inform me of something I’ve missed.

It’s always done with positivity and optimism and always causes me to pause and appreciate the quality of character we have in the crypto community.

It’s always nice to see that so many are still in touch with their inner child. So thank you all for that.

https://cointelegraph.com/news/iota-price-explodes-after-agreement

The news story was basically that IOTA is going to be working with Microsoft, Fujitsu and some other companies on a market for buying and selling data.

This is perfect for IOTA since it’s designed for the Internet of Things which will be sharing massive amounts of data between an almost unimaginable number of smart devices.

Story - Couple Of CryptoKitties Updates
Disclaimer, I hold 4% of my crypto portfolio in EOS tokens so bear that in mind.

http://kittysales.herokuapp.com/
It didn’t take long for someone to build a site curating metics.

So if you want to keep track of the most valuable CryptoKitties and perhaps try and spot what common traits make the Kitties most valuable this would be the place to begin that analysis.

Also further to what I said yesterday about this being a perfect example of how I think EOS adoption will catch up with, overtake and then dwarf Ethereum, check out this post from the Steemit team:
https://steemit.com/steem/@steemitblog/digital-kitties-on-steem-how-would-the-steem-blockchain-handle-700-000-transactions-per-day

In it, they state that the Ethereum network is current at 100% capacity with a backlog of unconfirmed transactions to boot.

http://blocktivity.info/

It then links out of blocktivity.info a site that suggest that market is cap is not what we should be looking at in terms of a blockchains value.

What we should be looking at is how much it is being used by real users.

When you look at The Cryptoverse from this perspective here is what you see.

Disclaimer, I hold 3% of my crypto portfolio in Steem.

The Steem blockchain is the most used blockchain with a 7 day average of 822,000 transactions per day vs Ethereum’s 756,000.

Where it gets really interesting is when you look at how much of the total processing capacity is being consumed.

Those 756,000 Ethereum daily Ethereum transactions are completely maxing out the network, so beyond 100% capacity.

Those 822,000 transactions per day on the Steem network account for 0.3% of the total processing capacity.

Yes, you heard me, less than one third, of one percent.

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lovin' all the disclaimers :)

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Very beautiful

I think it has a good chance of hitting $25k by end of year. But I do expect it to have a $2-3k dip and climb back up to $25k.

And if you noticed, STEEM is also going up! Yesterday it peaked at $2.41 and as of right now it's at $1.77.

I think it's time to load up on more STEEM...I think next year it will hit close to the $10 range.

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With this next events i predict Bitcoin reaches 25K usd by Christmas!

1º - 10# december - CBOE
2º - 18# december - CME
3º - January - Japan launches BTC futures
4º - Atomic Swaps with Litecoin working perfectly
5º - Lightning Network

What do you think?

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I think it's going to hit $100,000 next year. My reasoning is that everyone is starting to realise this puppy isn't staying down. Others may cry about how this is a bubble, yet it keeps going up. Here in the US, scared Financial Analysts say it's not real currency because you can't walk into a grocery store and buy milk with BTC. And that's true, but only true for the USA. In Japan they have legalized it as a real currency which can be used to buy milk. It's only a matter of time until the US will have to acknowledge it and at some point, allow it to be real currency here.

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Sure you can use bitcoin by way of bitpay!!

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Yeah, but that's technically not the same. That does a conversion "on-the-fly" back to USD currency. But it's a nice intermediary solution.

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Screen Shot 2017-12-07 at 1.33.59 PM.png

Decent pullback here. I like the 14.5 area as a potential add.

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Just curious - where did you find this chart? I've been looking for a platform where I can spend some time playing with charts

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Thanks for the web page great find

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Wow! Exactly what I was looking for and then some - thank you!

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Did you see SBD price?

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Nope, where do you see charts for that?

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coinmarketcap

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Almost $7 right now

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That's odd...I don't see that. I see $1.90 as current and no highs of $7. Unless I'm looking at this wrong.

Can you take a screenshot?


Source: Coinmarketcap

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Steem Backed Dollars (SBD) not Steem. It is also on Bittrex. Just Google Steem backed Dollars coinmarketcap and it is there. Crazy prices right now. @papa-pepper just gave away a ton in a selfie contest too.

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Ah, now I see it. Didn't know that SBD was a coin as well. Thought that had to be converted to STEEM. I thought SBD was an "internal" thing to Steemit only. Man, got some more learning to do :-/

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Believe me, I am no expert. It is quite unusual though for SBD to be this high. Happened that one time when you look at the chart, but most of the time it is about $1. It is supposed to be $1. I think the witnesses vote to set rates (almost like the Federal Reserve) in order to keep SBD equivalent to $1. In reality it goes up and down though based on market conditions

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Also, crap! Steem is now almost $1.90!!!

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Thanks Monk of Marketing! ( : Great video, the information you are sharing is critically important! ✌

@marketingmonk - crypto kitties might sound really dumb for a layman, but hey, it's a brilliant idea and the guys who made it are laughing their way to the bank. And these are probably the kind of apps that will propel blockchain into the mainstream - after all not everybody is into finance and cryptocurrency but hey give them a cool dumb app and they'll take notice.

Good info as always thank you.
I think we will see a massive alt rise soon and BTC will flip over very soon.

https://steemit.com/bitcoin/@deobrands/btc-pump-is-just-new-money-usdusdusd-waiting-on-the-side-lines

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Alts are definitely rising. It seems to go back and forth, but over the past several months damn near everything is higher than where it was. Bitcoin continues to shatter records. I think we all know there will be a point that Bitcoin stops the explosive growth, but I certainly haven't timed that right. Didn't think it would be worth more than an ounce of gold (wrong), didn't think it would hit $10,000 without a big correction (wrong). I'm just spreading my miniscule assets around with the hopes of something taking off. All-in-all, it has been incredibly exciting and I 100% have Steemit to thank for getting me into cryptocurrencies.

I always get the market backwards lol I thought crypto kitties would have helped ethereum surge from all the attention. Sure the network got bogged down but we all know it's still in it's infancy. Oh well I guess I always think opposite of what the market thinks ;(

Thanks for all the great information. Really enjoy the show. The Microsoft partnership is definitely big news for IOTA.

There are a lot of IOTA bag holders now!

Thanks for letting us know!

so whats it gonna be ?
Btc-Eth-Ltc-Iota-Xmr ?
i m thinking Ltc

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Litecoin definitely has taken off. Has been around a while, lower fees, and faster confirmation times. I think ZCash is kind of interesting too

@marketingmonk It really is very Exciting from all Fronts and I am feeling very good about the Cryptos I hold.

Just heard a news cast saying there had been a big Bitcoin theft at NiceHash.

Bitcoin, iota and monero seems like there is no stop for them. The three musketeers !!!

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I mine Monero with 3 Vega 56 cards. Only see it going up in the future as more people accept it as currency. Apparently music industry is accepting it now.

Your content is solid , keep up !

I have a question :::
What is Bitcoin Bubble Balloon and what happen when it burst !
@ahaseeb1999
Thanks

I went to sleep at 12k, woke up for a second somewhere around 13.5k, now we're 15k? What is going on!!

Thanks for valuable news explain about cryptocurrency.

Thanks for all the information. I like the trend going forward in the Crypto I hold. Just wish I had a bunch more.

I like your idea.

Forget about money, and let's focus on, life . Peace Out

Bitcoin is going crazy hehe....
I wish I have a Time machine so that I will go back to past and then invest my money in Bitcoins and then tadaaannn hehe...

I think Bitcoin still has room to run, after all volume is quite low considering the price level Bitcoin has broken the past few weeks. Don't think BTC will crash until we see another volume spike. Anyways, check out my analysis guys: https://steemit.com/bitcoin/@cryptofrombed/bitcoin-breaking-key-resistance-as-new-high-of-16k-was-set

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I think it will crash now as it has reached its peak .That means many new investor has entered it for gain and they will not sell it .So only limited no.of bitcoins wilk be available for sell .this shows tht many old investor will sell and enter into new cryptocurrency

It does not appear as if the bubble is going to burst any soon as the Bitcoin has set a new record by reaching the $14k mark. The currency which was standing at $12000 suddenly got a push and gained approximately $2000 in less than a daytime. Some speculators are not absolutely convinced with this gain, but most are confident that it is just the beginning of happy times for the investors.

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The thing is, if you get a bubble, fill it full of cement and make a cast of it - it won't pop.

good post, a lot of useful information about cryptocurrency, thanks

@ marketingmonk a good post, because a good person is someone who benefits others. so after reading your posts then my insight is growing and arise the sense of want to try as you, still be the best

Great post! Thank you for the overview again on whats going on MarketingMonk!

Bitcoin is really something else. I wish I had the money to invest.

Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @dtube valued at 81.81 SBD, based on the pending payout at the time the data was extracted.

If you do not wish to receive these messages in future, reply with the word "stop".

Very good

Congratulations @marketingmonk, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 303 and the total pending payments to posts in this category was $4693.44. To see the full list of highest paid posts across all accounts categories, click here.

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This is about the whole summary of all the things I al exactly following because of my own wallet. Very nice list of why what is happening at the moment. Only the IOTA situation is really need to read i more, I dont have any, and I dont understand enough of it as yet to do something with it

good news

I attained 32 cents worth of bitcoin about a year ago and just forgot about it. A few days ago i checked my virtual wallet and it's worth almost $15. Wow! I'm even hearing by 2020 that a single bitcoin will be worth around $1,000,000.... this may be the opportunity of a lifetime. Investing a small amount of $ could give a huge return. I'm definitely trying to learn more. The thought of it is exciting! Good luck to all, ty

as of today december 7, 2017 bitcoin surpassed the $15,000 which exchange $16,200 to USD

Awesome podcast! Been listening daily for a month or two now.

Its a wish for everone to hv btc grows ....a welcome christmas santa

Nice article! :)

whoever thought that bits could be so valuable!

We live to learn everyday. Thank you

great info @marketingmonk
btc is is really bullish these days surpassing all speculators! for cryptokitties hmmm i think ether was not expecting what happened to them.
hope the next big crypto Elyte will not be affected by all these clogged networks. wrote on elyte. why not check it out
www.elyte.biz
thanks for sharing this

That video from Crypto Investor is without a doubt one of the best videos I've ever seen (in more ways than one). Crypto Kitties are stupid but are unquestionably innovative. Bravo!

Is this all a set-up, cashing in on the misfortunes of new Bitcoin buyers?
https://steemit.com/bitcoin/@xsid/are-new-bitcoin-buyers-being-set-up

wow is the steem blockchain network this intresting? then why is it still on the low?

Wont it be profitable to convert crypto into some currency with lower market capacity????????? bitcoins are making so mucg progress right now all for what coz it has only 21 million market cap max... if u invest into something into even lower market cap then today or tomorrow u can make way more money...plus bitcoin mining is becomng so expensive now that unfortunately people will lose interest i think investing into btc wont be the best option u hv right nw

Woah yo , don't forget Ripple! It may be linked with some banks, but it will be a solid long term knowing the banks won't fight it. Look into it a bit.

https://ripple.com/

The payless transactions alone will generate hundreds of thousands of dollars that otherwise would have been spent.

Gratitude to all.

UNSTOPPABLE !

bull.jpg

Unstoppable

Very well said.. paper gains. I hated the word , but the bitcoin price is a bubble right now. In the last 24 hours , we saw it go from max 18.350 back down to 14300 and now it's back up to 15700.
It's only a matter of time imo until all this 400bil market cap will go into the alts.

Thank you for this well organized run down on these crypto issues. I am new to the whole world of crypto and appreciate people who can break things down into digestible bites. Great post.

Congratulations @marketingmonk!
Your post was mentioned in the hit parade in the following category:

  • Pending payout - Ranked 6 with $ 225,98

I think the reason the adoption is reducing is because people are beginning to see Bitcoin as a store of value rather than a currency.

Amazon will not start accepting. Bitcoin until it's much less volatile. But if it's less volatile, then speculators aren't interested.

The only resolution i can see is that vendors switch to Dash or Litecoin or something for payments and free bitcoin to be the "digital gold" it seems destined to become.

i like bitcoin

bitcoin will be the storing value of the new economy....gold has an 8 trillions market cap, for what ?? it costs more to produce 1 bitcoin ( +or- $1000 use ) than 1 once of gold....it's time open our mind and think outside the box....

The increasing price of bitcoin make the SBD worth so much. Today I was surprised to see that i got so much money on my Account.. Thanks for steemit platform...now i know that this steemit really helps people all around the world

Very interesting about the Steemit transactions... I so see this platform as still underappreciated... I still think it will soar some day...upvoted you

The video is very educational, it's like you are encouraging me to invest in cryptokitties. Thank you for sharing this @marketingmonk ! Resteemed !

I really need to get on IOTA... wheres the place place to buy? at least I just got some EOS. Will EOS really take off like we think it will in 2 years? Is it too late for IOTA?

Thanks Monk of Marketing! ( : Great video, the information you are sharing is critically important! ✌

PS Everyone Keep you account passwords Safe! Im forcefully starting a new acc

Thanks Monk of Marketing! ( : Great video, the information you are sharing is critically important! ✌

PS Everyone Keep you account passwords Safe! Im forcefully starting a new acc