Whoa - Recap: 05/05/17 12:30 AM PDT


Wow. So it's been a crazy couple weeks - I was going to write something several times, but got dragged into other things. Craziness happening. More ICO FOMO - MobileGO currently sitting at $10.5M with still 3 whopping weeks remaining on their uncapped sale. Gnosis sold out in record time - proving the power of FOMO holds strong to everyone's dismay, even through a reverse dutch auction where 96% of the GNO are locked up and kept for a year. Controversy here and there about what happened and why, but at the moment ICO investors are in profit - especially after poloniex listed it.

And wait. I haven't even talked about Bitcoin! And Ether! We've been smashing ATH's every day. People are excited! People are scared! Whispers of bubble...and yet the ICO's keep selling out.

Bitcoin: $1630 at the time of writing - this is after it dumped from $1665 to $1482. Wut.

But wait there's more...

Ether: $97.75 at the time of writing. I'm not sure how much longer I can keep my jaw from dropping.

What is going on? Here's some charts:

total-marketcap-crypto combined-altcoin-cap bitcoin-dominance

What are we looking at? Some clear parabolic curves in both bitcoin and even more dramatically for the altcoins as well. And yet the bitcoin dominance keeps dropping. People are going straight to ETH or different altcoins and skipping the bitcoin transition phase. I think it is also a sign that people are getting more comfortable with just buying cryptocurrencies in general. Does it look like a bubble? Yea. But the Potential. Is. Amazing. I am in this for the long-haul. If you don't know how bitcoin economics work i.e.: the mining of coins, the relationship to the miners, the 4 year halving 'schedule', or why the 21,000,000 number was picked as a market cap - here. If you like computers and math, it will hopefully make you smile.

Everything is up - Japan has legalized and is ramping up for 200k vendors in a year's time. Ambitious, but they the JPY is pushing the volume to boot - making up over 50-60% volume most days. Exchanges in Japan filing for crypto-licenses with many getting approved (10 out of 18). Exciting times as we see how the 3rd largest GDP in the world decides to adopt this technology. And they also plan on dropping taxes on bitcoin. And Japan is definitely FOMO-ing other coins. XRP has been a big benefactor as well. Coincheck pushing nice volumes on altcoins. Segwit on Litecoin has shown Bitcoin community that it is possible to reach a consensus. We've seen support start to swing hard in one direction and the sentiment is cautiously optimistic.

And what else is going on? Bank of America demo'd a decentralized application (dApp) using the Ethereum blockchain at a Microsoft event. The UN launched a large scale dApp in Jordan. Alpha Bay ETH is live. Moon fuel Baby~



Litecoin is now on coinbase!

Such Excite! FOMO! BUY! I did....

And look at me - I'm going to invest in some ICO's too. Things I'm looking forward to:

  • Aragon.one (May 17): Decentralized Organizations with a court governance system. There is a growing trend of ICO's with MVP's already made. Honestly - I think it is a sign of an active startup scene. WeTrust had a similar deal where they already had a beta product. Aragon is also structuring the ICO with a vesting structure for the founders and presale investors in the form of 2 years with a 6 month cliff. The details of this project are interesting and I might commit myself a big investment. Their blog has been pretty active and transparent with their plans so far.

  • Status.im (Q2/Q3?): Trying the alpha on my android. Using ETH dApps on your phone. Need I say more? Oh yeah - Aragon.one and Status decided to partner. And as it turns out, Coinbase has decided to release a version of their own in Token. Not sure if CB really needs an ICO or anything for it though. Seems like they are committing hard to using ETH for it as well. Unfortunately no date yet.

  • Metal (Soon?): Gamified spending of bitcoin. Earn METAL for purchases and discounts. Sound like reward points on your fancy credit card? Yeah. Oh yeah, and Marshall has been working on this for a while and making sure it will be compliant and all that shnazz.

  • mysterium.network (May 31): Another kind of 'makes too much sense' marriage of tech. VPN's + Blockchain. While I haven't dug into the details a ton yet, I'm not sure why this wouldn't work. In fact, I'm almost positive blockchain should make a VPN even more amazing for privacy and while that is not the only use-case for a VPN, the team makes it pretty clear that their priorities lie there.

And honestly - there are a ton more that could do well or have drama or tank. The recent tokencard sold out in minutes as well with $12.7M. 10's of M's everywhere.

Just go here: tokenmarket - great for doing basic research and getting alerts.

Wrapping up for now - I was going to actually do an investment update, but I think I will do that tomorrow. This post got long.