weekly #96 – 25 October 2019
The following topics will be addressed in this weekly.
- Bundles performance
- Delisting completed
- Triaconta tip
- All coins great and small
- Market overview
In a previous article about futures we warned everyone to watch out for big moves in the Bitcoin price near the last Friday of the month. That is the CME futures settlement day. It is too much of a coincidence the price suddenly drops $500 this week. We will wait and see what happens after the weekend.
All bundles took some damage this week. Big 3 Bundle (-3%) the most with all three coins down. Top 30 Bundle (-2%) is down and has Chainlink (+15%) on a new rise like we said was technically possible last week. Basic Attention Token (+6%) adds even more to its value, as adoption of the Brave browser continues. Brave v0.70 is out today, for the first time enabling ads for the Netherlands. Penny Stock Bundle (0%) is flat and the best performer in this bundle is Holo chain (+12%), a coin we added with the revision in July.
The delisting of BitTorrent and PundiX is completed. They are no longer offered on our platform and automatic revision has replaced them with Ren and Fetch.AI. Any BTT or NXPS token that remained in some accounts were sold for credits. You can use the received credits to buy other cryptocurrencies or request a payout to your bank account.
All coins great and small
What exactly are cryptocurrencies for? Where is my money actually going? We think it’s a good idea for you as an investor to know a little bit more about the cryptocurrencies you can invest in with Triaconta.
Monero (XMR) is an open source crypto currency with 100% private, secure and untraceable transactions. By using the Monero payment system, wallet transactions and balances are completely invisible to others.
Monero was launched on 18 April 2014 as a copy (hard fork) of Bytecoin (2012). The first copy was still called BitMonero, a combination of Bitcoin and Money (Monero in Esperanto). This project initially failed, but some time later a new group led by “Johnny Mnemonic” picked it up again and renamed it to the current Monero.
Privacy in general has become increasingly important. There has been a new special law (AVG in the Netherlands) and people are now much more aware of the importance of privacy and how their data and their identity can be abused. Shielded balances and payments on Monero ensure the preservation of the user’s financial privacy. The amount of your bank balance and what you spend your money on is something you don’t have to share with the whole world. Just like a password on your computer or locking your phone. The invisibility also prevents theft and misuse of that data.
Besides Monero there are more privacy coins like PIVX, Dash, Verge and Zcoin. There is no real competition between the projects because the whole group of privacy coins currently benefits from the growing number of people taking back their financial privacy.
Anonymity is paramount in the project so the majority of the more than 300 registered developers is only known by their online alias. A well-known and not so anonymous figurehead of Monero is the current project leader Riccardo Spagni, online better known as Fluffy Pony.
How and by whom Monero is used is impossible to determine. The market value comes from public trading on cryptocurrency exchanges. What happens outside exchanges in private payments and peer to peer trade we can never find out because of the anonymity. A list of the richest Monero owners, as is often published for other crypto currencies, is utterly impossible with Monero.
How does it work?
Simply put, Monero always puts every payment in a new mailbox. The mailbox is created by the network and is not connected to the payer. The receiver receives the key of the mailbox from the Monero network and can collect the money from it. There is no connection between the wallet that sends and the wallet that receives.
As described earlier, the actual use of Monero cannot be ascertained. However, Monero is accepted by many webshops. There is also an Xmr.to service that makes a bitcoin payment for you while you pay XMR yourself. This way you can use your Monero anonymously anywhere in the world where Monero anonymously anywhere in the world where Bitcoin is accepted.
Monero has always been a part of out Top 30 Bundle and is also available as a single cryptocurrency for Triaconta account holders.
Opera web browser added Bitcoin e-commerce and TRON integration to its built-in wallet. Opera’s users can now make bitcoin payments directly and interact with decentralized apps on both the Ethereum and TRON blockchain. Read the full story on Web 3.0 adoption here.
The Oxford English dictionary adds the word “Satoshi”. The smallest monetary unit in the Bitcoin digital payment system is now an official part of the English language.
Bakkt is still growing and hit another record volume in BTC Futures this week with 640 contracts traded in one day. This week they also announced they will add Bitcoin options in December. They have already been given the green light of the CFTC and will become the first provider of regulated Bitcoin options on the market.
At Facebook CEO Mark Zuckerberg’s Senate testimony, Republican congressman Ted Budd of North Carolina said that Bitcoin, Ethereum, and XRP are actual cryptocurrencies, while Libra isn’t. It is vital that laws that control Libra will not stifle financial innovation with cryptocurrencies.
A new survey by Australia-based financial services firm Finder shows the number of Americans who own cryptocurrencies has almost doubled in 2019, from 7.95% to 14.4%. A majority of American Bitcoin holders also owns other forms of cryptocurrency. The lack of ease of use is still the main reason most Americans prefer to stay away from crypto in 2019.
Tron is profiting from the growth of the TRC-20 version of the USDT token. The total amount of Tether, a stablecoin pegged to the US dollar, on Tron’s network is now 450 million and that is likely to increase even further. Justin Sun announced a partnership with cryptocurrency exchange Poloniex and urges users to convert Ethereum base USDT to Tron based USDT. Sun claims the Tron network is superior in speed , scalability and usability. The game is on between these two blockchains.