Bitcoin Breaks Records / IOTA's 500% Gain On News / How CryptoKitties Takeover Could've Been Avoided
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.
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.
Reached the 5,000 character limit of the YouTube description.
▶️ DTube
▶️ IPFS
lovin' all the disclaimers :)
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.
Update, STEEM is at $3.16
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?
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.
Sure you can use bitcoin by way of bitpay!!
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.
Decent pullback here. I like the 14.5 area as a potential add.
Just curious - where did you find this chart? I've been looking for a platform where I can spend some time playing with charts
Look at https://www.tradingview.com/
Wow! Exactly what I was looking for and then some - thank you!
Thanks for the web page great find
Did you see SBD price?
Nope, where do you see charts for that?
coinmarketcap
Almost $7 right now
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
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.
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 :-/
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
Also, crap! Steem is now almost $1.90!!!
Great post! Very interesting thoughts! Would love to hear what you think of my post!
https://steemit.com/bitcoin/@college-is-dumb/bitcoin-crash-sunday-bitcoin-overpriced-investment-banks-manipulating-futures
https://steemit.com/bitcoin/@college-is-dumb/bitcoin-crash-sunday-bitcoin-overpriced-investment-banks-manipulating-futures
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.
I totally agree. I posted earlier about my kitty experience.
https://steemit.com/crypto/@cryptochicken1/an-adventure-in-crypto-kitty-rabbit-hole
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
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!
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?
@marketingmonk It really is very Exciting from all Fronts and I am feeling very good about the Cryptos I hold.