Triaconta Weekly #99 – 15 November 2019
The following topics will be addressed in this weekly.
- Bundles performance
- Triaconta tip
- All coins great and small
- Market overview
It is good to be diversified. Big coins are mostly down and smaller coins are mostly up. Bitcoin dominance keeps falling. It is however, a very slow alt season until now. We remain optimistic for the coming weeks because historically the best is yet to come.
The Big 3 Bundle (-3%) was the only negative performing bundle this week with both Bitcoin and XRP losing 4%. The Top 30 Bundle (+2%) shows 15 coins down and 15 coins up lead by VeChain (+33%). VeChain now totals +120% in four weeks and does not seem to slow down its climb due to the China adoption news, which also profits NEO (+15%). Penny Stock Bundle (+3%) did very well with the newly added Fetch.AI (+15%), Ren (+6%) and Holo (+6%).
Did you know you can check your Triaconta Bundles value without logging in? Just a simple link always gives you a personal account summary. You can even make it your homepage! On the dashboard in the portal you can enable or disable the link. Click Navigate To and then bookmark the link in your browser.
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.
Nano enables super-fast and free payments via Block Lattice – a data structure in which all accounts have their own blockchain. Instead of competing on a central blockchain, each account chain is synchronized separately. In addition, each chain can choose its own representative to validate the transactions. Block Lattice works on the basis of a Directed Acyclic Graph (DAG) algorithm. Nano combines proof of work with this DAG technique in a special way. In contrast to IOTA, it does work with a blockchain and blocks.
No block reward
Nano is designed to be as decentralized, scalable and accessible as possible. In this system, representatives are not paid to process transactions at all. The motivation is therefore limited to indirect, operational cost savings compared to traditional transaction suppliers such as banks and credit card companies. Participants are not encouraged to go beyond their own direct needs, which is sufficient. According to the team, this model is more efficient and less likely to be centralized.
The advantage of having your own blockchain per account is that only the sender and receiver need to “agree” on the transaction instead of the whole world. A disadvantage, but now a thing of the past, is that the system differs so much from other blockchains that cryptocurrency exchanges in the world hesitated quite a bit about adding this currency. And if you can’t buy a coin anywhere, it won’t become popular very quickly. What finally made it popular was the ability to make small donations in Nano on the game streaming platform Twitch.
Within any game you can easily and quickly integrate paying with Nano. To prove this, developers have made an adapted version of the famous shooting game Quake 2. In Free to Play Nano Quake you can place tokens on a match and then compete with each other, until in the end, the winner takes all tokens. In order to demonstrate fast micro-transactions in practice, there is also a game mode in which a payment is received for each successful shot (“frag”). To encourage participation and speed up adoption of Nano, you can also participate in a game without payment and from a score of 3 frags you get a bit of Nano from a Nano faucet. Until this moment participation requires a lot of installation and configuration, so they are working on a version that can be played in the browser!
PayPal has abruptly cut its payments service to thousands of live performers on adult content provider Pornhub. Verge (+40%) now seems the remaining option for payouts as this privacy coin is already integrated as payment method. It will take some technical explanation as most of these people do not have wallets or cryptocurrency at this time. More users, and more adoption is of course very good for Verge.
The most innovative smartphone makers are racing to adopt crypto. HTC plans to provide support for Binance chain and the BNB token on the Exodus 1 cryptophone, which has the device’s native Zion vault wallet app. Users will be able to access the Binance decentralized exchange (DEX) and pay where BNB is accepted. The phone will cost $599 and can also be paid for with cryptocurrency on the HTC website.
Weiss Ratings, a reputable financial rating agency that also does crypto rankings, has found a new darling, Cardano (ADA). The brainchild of Charles Hoskinson is now deemed to be “vastly superior” to EOS. Weiss believes that EOS is too centralized and this is actually one of the things Block.one is working on. EOS remains undisputed number one on the China blockchain rating list.
Head of Research at Fundstrat Global Advisors, Tom Lee explains on CNBC that Bitcoin will easily hit $25,000 if only the number of active BTC users would double. He saw the same thing happen to the FAANG (Facebook, Amazon, Apple, Netflix, and Google) stocks since their IPOs. Most of their price rise can be explained by the growth of the global internet itself and that network effect is exactly the path cryptocurrencies will follow.