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The following post by Joe-M-4 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ CryptoCurrency/comments/bji68z
The original post's content was as follows:
Three good months in a row, still down -82%
Click here for full blog post with all the charts
tl;dr - April marked the third positive month in a row. Still down -82% over life of experiment. Bitcoin retakes overall lead from Stellar. Bitcoin Cash wins best monthly performer for the first time since the experiment began 16 months ago.
The Experiment:
Instead of hypothetically tracking cryptos, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. Think of it as a lazy man's Index Fund (no weighting or rebalancing), less technical, more fun (for me at least), and hopefully still a proxy for the market as a whole - or at the very least an interesting snapshot of the 2018/2019 crypto space. I’m trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet.
I have also started a parallel project: on January 1st, 2019, I repeated the experiment, purchasing another $1000 ($100 each) into the new Top Ten cryptos as of January 1st 2019.
The Rules:
Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment two years. Hold only. No selling. No trading. Report monthly.
Month Sixteen - Down 82%
https://i.redd.it/4hhg1jru7mv21.png
April marked yet another solid month - we've now seen three strong months in a row. While 6 out of the 10 were flat or slightly down, the remaining four cryptos more than made up the difference, gaining between +12% and +49%.
Ranking
Just two cryptos moved this month. Stellar dropped from #8 to #9 and Bitcoin Cash moved up two spots from #6 to #4 after a very strong April.
NEM, Dash, and IOTA are Top Ten dropouts - they have been replaced by EOS, Binance Coin, and Tether. NEM holds the dubious distinction of being the first crypto in the experiment to have fallen out of the Top Twenty.
April Winners - Here's something you don't see everyday: Bitcoin Cashabsolutely crushed the field this month, up +49% in April. In fact, this was the first time Bitcoin Cash has ended a month outperforming its Top Ten peers since I began the experiment 16 months ago. Bitcoin finished second this month, up nearly +30%
April Losers - Stellar had a tough April, finishing the month down -8% and dropping a place in the ranking. The rest were either flat or down a few percentage points - no big deal for crypto.
For those keeping score, here is tally of which coins have the most monthly wins and loses during the first 16 months of this experiment. Most monthly wins (3): Litecoin. Most monthly loses (4): NEM. Special mention goes to Bitcoin Cash which finally logged its first win this month.
Overall update – Back and forth between Bitcoin and Stellar continues. NEM and IOTA at the bottom.
Stellar's tough month dropped it from overall experiment champion to third best performing crypto over the life of the experiment. Bitcoinregained the lead, now 'only' down -60% from January 2018 and now Litecoin has passed Stellar as well.
Bitcoin Cash's phenomenal April allowed it to barely crawl out of the cellar, but is still down -90% since the beginning of the experiment. NEMis the worst overall performer (down -94%) followed by IOTA which is down -91%. My initial $100 investment in NEM is worth just $5.91 and IOTA is worth $8.21.
Total Market Cap for the entire cryptocurrency sector:
The total crypto market cap increased over $25B in April, up +18% from last month's report. It is down -70% since the beginning of the experiment, January 1st, 2018. At $171B, the market is at its highest point since November 2018.
Bitcoin dominance:
Bitcoin dominance jumped quite a bit in April, now standing at nearly 55%. This is the highest point Bitcoin dominance has reached so far in the experiment.
Overall return on investment from January 1st, 2018:
My Top Ten of 2018 portfolio increased nearly $15 in total value this month. Another tiny gain, but noteworthy, as ending three months in a row in positive territory is a first so far in the experiment.
If I cashed out today, my $1000 initial investment would return about $181, down -82%.
Another rare event: I have almost always ended months setting a record low in terms of value over the life of the experiment. April marks the third month in a row where this has not the case.
Implications/Observations:
Recording three solid months in a row is new territory for this experiment. While it feels like the bottom could drop out again any day, the string of positive months keeps increasing.
Of note this month is the record high Bitcoin dominance, the highest since the experiment started in January 2018. This, coupled with the rise in the crypto market cap, shows that while enthusiasm for crypto is growing, it is focused on the most well know options - people are cautious at the moment about investing in altcoins, but seem to be more willing to invest in Bitcoin.
On a related note, Bitcoin reclaimed the overall lead this month in a convincing manner - it is 7% ahead of second place Litecoin.
The experiment's focus of solely holding the Top Ten continues to be a losing proposition. While the overall market is down -70% from January 2018, the cryptos that began 2018 in the Top Ten are down -82% over the same period of time. At no point in the experiment has this investment strategy worked: the initial 2018 Top Ten continue to under-perform compared to the market overall.
The 12% difference is up significantly from last month's 8% difference. It is the widest gap so far and was also seen at one point last year (September 2018).
I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. After a pretty significant December dip, the stock market continues to rebound. It's up over +10% since the beginning of 2018, so that $1k investment I threw into crypto would have yielded +$100.
Conclusion:
February, March, and now April have been quietly solid months for crypto. I personally would be quite satisfied to have these slow, steady $15B-$25B monthly gains for a while instead of the volatile periods, but it does feel a bit like the calm before the storm.
Thanks for reading and the support for the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports.
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📣STELLAR AIRDROP (XLM)
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Stellar Airdrop in collaboration with Blockchaincom is giving away a total of $125,000,000 worth of Stellar Tokens (XLM). All Blockchain users need to do is log in to their wallets (or sign up if you don’t yet have a Blockchain Wallet) and verify your identity. Once your identity has been verified, you will be added to the waitlist to receive XLM in one of their weekly giveaways. This is not the first Stellar airdrop. Stellar had a previous Airdrop for Bitcoin holders in the summer of 2017.
If you like the INFO hit button 👇
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I know what you may be thinking, no, the title isn't a click-bait, pretty much this happened some months before the huge bitcoin spike back in 2017.
PS: if the numbers look a bit random it's because I am converting the currency from MXN to USD.
PS2: Also pardon if some sentences are a bit wonky as English is not my mother tongue.
PS3: I'm a bit fussy on all the dates and numbers, but I'll try to be as specific as possible, also I'm an artist so don't quote me on my math.
So story time: both my aunt and uncle are pretty well established financially. My uncle is a retired veteran pilot from the US so he gets sent some money to his bank account monthly, and my aunt it's a pretty popular tattoo artists in our area and since we all live in Mexico their income is waaaaaaaaay above the average, which makes them also somewhat entitled. A bit unfair if you ask me.
Anyway, my uncle isn't tech savvy person but he is rather passionate about learning. He'll ask me from time to time very specific stuff like "What's a MIDI?" "What's a tracker on a torrent". What I mean is that he does research on his own and just ask me stuff when he's completely stuck.
So this all started in December 2016 I think, my uncle came visit so we could talk about cryptocurrency. At this point I wasn't an expert, but I knew a thing or two, and with some research we got a very well understanding.
Both he and my aunt wanted to invest a huge amount of money into cryptocurrency, it was I think around $500,000 Mexican pesos, which is around $26,326 USD. They got this money because back in the day when land was cheap, they purchased lots of it to build big houses which then they sold for a lot of money, so for them this is somewhat pocket change.
We looked into buying ant miners, investing into different cryptocurrencies, etc. We decided that one of the best possible options was to invest some money into buying bitcoin, as well as a couple ant miners (Special computers that calculate bitcoin but they use a LOT of power). And with time buy more ant miners.
One mystical day near the end of December, my aunt and uncle invited me to a very sketchy cryptocurrency conference, so I could be there to verify if the information said there was trustworthy.
Well, I didn't suspected much at first, but as soon as we got to the event hell broke lose. It wasn't an MLM it was straight up a pyramid scheme. The conference talked wonders about "Be your own boss" "Young people are becoming millionaires, this is how" "Never work a day in your life again" etc.
It was for this "new cryptocurrency" called sCoin, if you google it you will find a bunch of results in Spanish many of which have the word on the title "Is it a scam?" so... yeah this was a clear scam from the get go.
They talked about how you can buy different packages with different benefits. Get a $526 USD for each family member, and just wait for it to bloom and they can all become millionaires!, and if you get your friends or other family members to join under you, you get 25% of their revenue! And by the end of the year you could earn 10 times the money you invested! how cool is that!?!????
It was something like that.
Once the conference ended, we got to the car and I said "No fucking way, this is a pyramid scheme scam" Now, unfortunately my family has been into pyramid schemes from as far as I have memory, and I've never been able to explain to them why they are so bad, this time was no exception.
My uncle said he was a bit skeptical, but my aunt was like "Well it's just $526, we can buy like 10 packages it isn't much money" to which I internally screamed "IT IS A LOT OF MONEY"
So the next couple of weeks was mostly me and my uncle checking on the website, waiting for any updates and stuff, they would constantly send us YouTube videos, where people talked how big this sCoin thing was going to be, and the scary part was... these videos were recorded on a way that made them seem very relatable.
Each video featured one person talking to the camera ala VLOG style. Some presenters were 25-ish years old, while others were 40-ish or even 60-ish. They all where recording from their garden, showing how big of a house it was they lived in, showed off stuff like their cars, and talked about how entrepreneurs like them reached success putting their earnings into cryptocurrencies. The videos were very poorly edited, but I think this was done intentionally so they seemed more like "We are normal people like you and your friends, we aren't a company"
The videos had 200 visits at most, and comments were disabled in most of them, by the end of January every-time you googled for sCoin you would find about 50% videos made by these people explaining how big sCoin was going to become, and 50% blogs talking about how it was a pyramid scheme scam.
For people like me, this was clear it was a pyramid scheme, but for my relatives, the scheme blogs were clearly written from people who were jealous of the big entrepreneurs.
February arrived, and with it the supposed release of the sCoin... but oh? what's this? nothing happened? the website dint had any changes and when talking with their contacts from the sCoin they just said there was a small delay, now around this time two very big events happened which should've made it 100% clear this was a scam:
Now I know for a fact PayPal looked into this, because not even a week passed by and we all got an email saying that unfortunately the people at PayPal were not entrepreneurs and they are morons who didn't wanted the opportunity to become millionaires through selling sCoin but once again, they told us sCoin IS NOT ILLEGAL.
By this point I was getting pretty annoyed, there were dozens of google searches saying this was a scam, their headquarters was a scam, their deal with PayPal was a scam, their supposed "big launch" never happened, but still my aunt and uncle believed these people were legit.
March came with another conference, this time for the people who have paid, my uncle in an impulse to participate on the conference bought 10 packages, they even put one of them to my name, so when I'm a millionaire I can put my own business and become an entrepreneur, yeeey thank you so much! Call me a ChosingBegar but I much prefer a bag full of dust it would've been more useful.
This conference was key because two big names I have read before were present, I don't remember the exact names, but when researching information about pyramid schemes one of these persons were mentioned as a lawyer from Guatemala who has been trying for years to make pyramid schemes legal and destroy their bad reputation, this lawyer has represented lots of companies who have gone to court for scamming people off.
I was like "I'm outies, this man in front of us is a literal criminal who helps other criminals why can't you see all that is wrong here?" Unfortunately my aunt and uncle decided to stay, what harm can listening to them do? I mean they already bought 5 packages of $526 USD each...
I couldn't stomach it anymore, I took a taxi and went to the bus station to come home as the conference was in another city. Both my aunt and uncle were upset I did this because I missed so much wisdom about how to be an entrepreneur but by this point I didn't cared anymore.
At this conference my aunt and uncle were convinced to invest a lot of money on sCoin they ended up investing the money they would've otherwise used on bitcoin and ant miners, investing a total of $26,326 USD
Month's passed, the launch date kept getting delayed and delayed and delayed, until around June, I watched a Philip D Franco video that talked about a huge boom on bitcoin. And by this point I started checking Bitcoin rate religiously, until August when it had it's biggest boom: $4,670 USD exchange rate.
My aunt and uncle gave sCoin $26,326 USD around the time where bitcoin costed $1200. If they had followed our initial plan of investing that money into bitcoin, they would've quadrupled their investment. They would have gotten around 389% their original investment which translates to around $102,408 USD or $1,943,387 MXN which is almost 2 million Mexican pesos.
Naturally, my aunt and uncle are pissed that they lost such a chance and they blamed me for a long time, to this day we don't talk to each other anymore, because of this and other reasons.
To this day, sCoin has yet to be launched.
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HorseChain is the world’s largest Equine services provider based on blockchain. Since the equine industry has been facing lots of problems in the previous decade because of the offline system and lack of global platform, the Horse Chain Foundation has developed a decentralized solution to all these problems. HorseChain provides an online platform for the equine industry, where users can purchase or buy horses, post an ad, check the medical reports, organize online events, etc. To do all these tasks, the users will need HRS tokens because the HRS tokens are the medium of exchange in the HorseChain app. Therefore, using HRS tokens users can buy horses take part in the racing competitions and can do many more things.
Plesse list #horseChain IEO #okex #crypto #bitcoin #ethereum #blockchain #btc #HorseChain
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Can anyone point me in the right direction for an updated guide on making purchases on the dark web? Everything I find on Google seems a bit outdated.
I’m specifically looking for guides on best practices for completing a sale with bitcoin and whether or not people are sending directly to a home address or renting a mailbox.
Thanks in advance.
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Last week, Stratis exhibited at the Blockchain Expo in London; which they have done every year since their inception. Similar to last year, I accompanied the team to provide what I would call ‘community support’ with the additional task to observe how the team ‘performed’ (in my opinion) compared to last year. With this entry, I hope to provide a detailed evaluation of the Stratis Platform team at the 2019 Blockchain Expo compared to last year’s. I’ll be breaking up my evaluation into several categories:
It’s almost common sense that exhibitors keep their image somewhat at the forefront of their efforts when we talk about the Blockchain Expo. It’s not always correlated with the legitimacy of their project, but projects that execute appearance properly are deserving of their credit to some degree - and Stratis is most certainly deserving of that credit. Stratis’ 2018 booth was a feat on its own when unveiled last year. It had all the qualities I personally look for from projects exhibiting - professionalism, great design, strategic location (near the very front of the expo), and presence (one of the largest booths there). With all that said, I was incredibly pleased with this year’s efforts and will go as far as to say that this year’s booth improves on most of those qualities. The booth was larger and updated with Stratis’ current design language. The location of the booth (albeit, not at the entrance) was placed near one of the speaker platforms, every attendee who stopped by to listen to a speaker of that particular area had visibility of the Stratis booth. The professionalism was maintained from last year and in from my perspective even more improved with the addition of two team members focused on business development and sales (which will contribute to our next category). With the drought we’ve encountered across crypto markets in the last year and a half, it’s reassuring to see that Stratis doesn’t spare any expense for this category and still recognizes its importance.
Stratis’ continued iterative code release of their platform has been the project’s strongest attribute for most of its existence. It’s no surprise that the attention from most community members have shifted from its software development to its business development. I share the same sentiment expressed from most that Stratis’ business development has been outpaced by the development of its platform. The Blockchain Expo is a great way to gage how far the management team responsible for this has improved compared to last year.
Before we continue, let me express what I mean as far as business development. This is not a simple ‘wen marketing’ evaluation, let’s make that very clear. You can drop seven figures on marketing efforts to boost awareness, but at the end of the day the effectiveness of your business development solely relies on active and outside utilization of your product.
End Rant
On the surface, there has been great strides to improve on the business development compared to last year’s efforts. What carries over from last year are the presence of Stratis’ software development team to interact with clients who are in need of a more technical overview of the platform. Management, including the CEO, was also there to interact with potential clients/users for various needs. The notable difference I’ve witnessed is the addition of two team members dedicated to business development, Paul Farrington, and a lead sales guy, Ian Frew, who were extremely active in their engagement with attendees of the expo. With these hires also came the addition of two presentations from the Stratis team (compared to one from last year). Paul, was responsible for presenting Stratis’ DLT solution while Rowan de Haas, a smart contracts developer, presented a proof of concept (POC) of Stratis’ Smart Contracts solution. To follow up Jordan’s excellent smart contracts presentation from last year with Rowan’s real world use case of those smart contracts cannot get enough praise for how brilliant that decision was.
With some of these notable improvements in the business development category, one thing that cannot be measured (at least in the time of this post) is the actual success rate of interested clients after following up with leads that were gathered from the expo. That does not mean, however, that it’s a subject not worth discussing in this post - but I will defer this till the last category (Effectiveness).
Community turnout can be a good metric of evaluation especially for a crypto-based event. However, it’s understandable that this year’s turnout was significantly less than 2018’s. Crypto has made everyone so fcking broke over the last year that they couldn’t even afford to attend a free expo /s*. There was a turnout of familiar faces from last year’s expo with the addition of another long-term Stratis holder (shout out to Neurosploit), and the time spent with the community was far more often compared to last year’s (here and here). On the subject of those hangouts, as casual and unofficial as they were, it was disappointing that some of the notable individuals from the team attending the expo were absent. Attending a gathering of the supporters of your project (if possible) is worth that investment of time, to every team in crypto. With that said, within the expo itself community engagement was excellent. There were numerous team members there to interact with and show gratitude for everyone's continued support of the project. Overall, based on this year’s turnout, I am very optimistic for next year’s turnout when Bitcoin steadily climbs back up to $20k$10k$5k$1.
With the naming of this last category, I knew there was a possibility to confuse readers of what ‘effectiveness’ meant for this post. To put it simply, it’s combining the effectiveness of all previous categories and seeing if they contributed to the overall goal of Stratis exhibiting at this expo. That goal (to me, a community member and not an employee) is growth - growth of traction, growth of support, growth of users, growth of business, growth of the overall platform. And considering everything that I’ve described in this post, has Stratis achieved that goal? My answer is yes (sorta).
Why the ‘sorta’ part?
Earlier in this post I’ve referenced the point of not being able to measure a key metric in business development which is the success rate of actual interested clients post-expo. I group this together with ‘loosely’ with a project’s client onboarding process, although anyone can make an argument that an effective onboarding process doesn’t necessarily translate to customers (there are more factors that contribute to this). The point I’m getting to is Stratis can exhaustively plan out how they’re going to represent themselves at the expo, events centered around the category, and allocate large funds to further expanding their reach to potential clients - those efforts will not matter if their client onboarding process doesn’t take advantage of any business leads gathered from the expo.
It may seem like I’m delivering the hammer late to what is a generally positive experience at the Blockchain Expo, but please do not interpret that as anything more than constructive criticism. I have been an investor, community member, and active contributor of the Stratis Platform for nearly 3 years. My experience at this year’s London Blockchain Expo with Stratis only reinforces my own personal belief that the future with Stratis is extremely bright, and that we are only at the beginning stages of Stratis’ full potential.
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Hi everyone! Here’s continuing with the rapid weekly update catch up series. The week that was at Parachute (5 – 11 April 2019):
ParJar crossed 26k tips since the start of the year catching the attention of some big names in crypto. Crypto World News featured ParJar in a news item while Crypto Zombie did a quick shoutout. Belated birthday wishes to Parachute’s very own Iceman! Hope you had a great one mate. Alexis won 400k PAR for topping the March Madness Pool. He also made it to the finale of this week’s Parena only to be beaten by Camille. She took home a cool share from the 200k PAR pot. The DoTA tournament turned out to be great fun with the team of Parachuters beating a team of bots in the game. Participants won 200k PAR and 1300 AXPR each. Chris set up Parachute’s first ever Masters Pickem Contest. The winner would receive a 2019 Masters hat in Masters Green. Sweet!
Parachute’s Master Pickem Contest winner gets to wear this beauty
The Ethfinex community vote came to a close with AXPR coming in 4th even though we had the highest number of unique voters. Inspite of the loss, the aXpire community was a clear cut winner. Community members and overall rockstars Dj and Gamesawy made a ton of awesome artwork to motivate folks to vote AXPR. And motivate they did! aXpirians joined forces and showed strength in numbers with everybody chipping in with as much as they could and more! The final MatchBX redesign sneak peek dropped this week. Check it out and share your thoughts. The weekly AXPR burn took place like clockwork. The AXPR Prime program now has 11M AXPR locked in it. That is insane! FinancesOnline awarded Resolvr with the “Premium Usability” and “Rising Star” prizes with Resolvr also making it to the list of best budgeting software solutions of 2019. Woot woot! Dutch readers can catch up on Crypto Benelux’s review of aXpire which was published this week. And finally, if you kept a keen eye on the chat, Matt shared a super early preview of the front end market place - Digital Shares: "CoinBX as a gateway MVP (backend engine) is ready, but we are adding a front end market place called Digital Shares. Even that backend will see upgrades to increase transaction speed and UI/UX". Stay tuned.
The 2gether presale started this week for citizens of Eurozone. Check out this thread to see how people in the EU19 have been using the card to buy stuff. This article shares more details on the launch. There’s also a sweet video series on 2gether team members using the card and app to buy carrot cake. Nom nom. CEO Ramon travelled to Innovation Finance Congress and U-tad this week to talk about fintech and collaborative banking models. Click here and here for a sneak peek. The incentive economy model involves customers by empowering them and returning revenue. Read this article to find out why businesses built on such a model will disrupt more industries in the future. Plus, the 2gether Steemit blog is now live. If you’re on Steemit, give them a follow. The first ETC Labs cohort (of which Cryzen was a part) came to an end this week with the Demo Day. Shuvro presented the Cryzen pitch deck on the occasion. Check around the 38 minute mark. Code gurus, have a look at Shuvro’s machine learning proof of concept simulation. The code involves a train function which uses past data to predict a future data point. See if you can better it!
Firstly, congratulations to HYDRO for making it to the top 3 in the Ethfinex community vote. And accolades have been coming Hydrogen’s way throughout the week. Fast Company named Hydrogen in its list of World Changing Ideas in the Developing World Technology category. By making the list, HYDRO was in august company of such behemoths as Ripple and Mindtree. Hydrogen was also selected to the WealthTech100 list of the world’s most innovative WealthTech companies for 2019. Mike should start working on getting a bigger trophy room. What say? The team also presented the molecule blockchain this week at the Global Treasury Leaders Summit hosted by The Economist. Blockchain Transparency Institute’s Market Surveillance Report for April’19 was published this week. HYDRO is one of only 55 tokens that can claim 0% wash trades on the list of 567 tokens that were analysed by BTI. Another big win for HYDRO! The Hydro developer update also came out this week. Did you know that 9M HYDRO tokens were rewarded to developers from the community who successfully completed bounties? Read more in the update.
HYDRO is one of only 2 tokens with more than USD 100k volume and 0% wash trade
Fantom announced a partnership with Yonsei University this week to work on virtual machines compiler development. Research updates in this segment will be released in the future. Fantom has released a simplified explanation of its proof of stake model. If you had trouble decrypting the more technical PoS document, the latest article should be helpful. Following Fantom CIO Michael Kong’s AMA last week, SharkCIA conducted a 1-on-1 interview with him. Click here to check it out. District0x’s weekly update cover a range of news from tipbots to invite links. If you want to know about token curated registries being built with Meme Factory, check out this helpful guide. The press release of Switch’s DEX platform was published on bitcoin.com with details on how the fees from the DEX will be airdropped to ESH and SDEX holders. If you missed the SwitchDEX introduction article last week, you can read the press release to catch up. CEO Josh appeared for an interview with Joe’s Crypto to discuss on all things Switch. Horizon State closed the week with another exchange listing. This time on UpBit!
Approximate distribution of FTM block rewards over a 4 year period
Opacity’s slogan competition saw a winner being announced this week. The winning entry was “Handle your Privacy” and it clearly represents what Opacity is all about. Freedom to control your privacy. Blockport STO press release was published on CoinTelegraph with details on the project. The STO also made it to the top 5 STOs of 2019 list prepared by CoinFunda. Uptrennd founder Jeff’s interview by Scott Cunningham dropped this week. The discussion ranged from the ins-and-outs of the platform to the future roadmap. Also, Uptrennd is giving away 20 bonus points (redeemable for 1UP tokens) for joining their Telegram channel. Still trying to figure out how to use the Birdchain platform to launch an ad? Here’s an article that lays out all the details. Plus, this guide on how to grow your community should be useful for budding marketeers.
Uzi’s interview of Ethos CEO Shingo provides an in-depth look into how Ethos functions as a company and where crypto is heading to in the foreseeable future. And if you’re looking to introduce a friend or family member to blockchain, sign them up for the Ethos Blockchain Course. Crypto awareness FTW! Dapp.com featured the WednesdayClub dApp this week in a brief write-up. And finally, the latest Gem app update (v0.17.6) came out which has fixed a few pending bugs. Check it out from the App Store/Play Store! Want to see something cool? Here’s a couple of antiquities from Gian’s extensive collection of treasures:
From our very own Giandiana Jones’ treasure chest
And with that, it’s a wrap for this week at Parachute. See you again with another update soon!
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Three good months in a row, still down -82%
Click here for full blog post with all the charts
tl;dr - April marked the third positive month in a row. Still down -82% over life of experiment. Bitcoin retakes overall lead from Stellar. Bitcoin Cash wins best monthly performer for the first time since the experiment began 16 months ago.
Instead of hypothetically tracking cryptos, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. Think of it as a lazy man's Index Fund (no weighting or rebalancing), less technical, more fun (for me at least), and hopefully still a proxy for the market as a whole - or at the very least an interesting snapshot of the 2018/2019 crypto space. I’m trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet.
I have also started a parallel project: on January 1st, 2019, I repeated the experiment, purchasing another $1000 ($100 each) into the new Top Ten cryptos as of January 1st 2019.
Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment two years. Hold only. No selling. No trading. Report monthly.
https://i.redd.it/4hhg1jru7mv21.png
April marked yet another solid month - we've now seen three strong months in a row. While 6 out of the 10 were flat or slightly down, the remaining four cryptos more than made up the difference, gaining between +12% and +49%.
Just two cryptos moved this month. Stellar dropped from #8 to #9 and Bitcoin Cash moved up two spots from #6 to #4 after a very strong April.
NEM, Dash, and IOTA are Top Ten dropouts - they have been replaced by EOS, Binance Coin, and Tether. NEM holds the dubious distinction of being the first crypto in the experiment to have fallen out of the Top Twenty.
April Winners - Here's something you don't see everyday: Bitcoin Cashabsolutely crushed the field this month, up +49% in April. In fact, this was the first time Bitcoin Cash has ended a month outperforming its Top Ten peers since I began the experiment 16 months ago. Bitcoin finished second this month, up nearly +30%
April Losers - Stellar had a tough April, finishing the month down -8% and dropping a place in the ranking. The rest were either flat or down a few percentage points - no big deal for crypto.
For those keeping score, here is tally of which coins have the most monthly wins and loses during the first 16 months of this experiment. Most monthly wins (3): Litecoin. Most monthly loses (4): NEM. Special mention goes to Bitcoin Cash which finally logged its first win this month.
Stellar's tough month dropped it from overall experiment champion to third best performing crypto over the life of the experiment. Bitcoinregained the lead, now 'only' down -60% from January 2018 and now Litecoin has passed Stellar as well.
Bitcoin Cash's phenomenal April allowed it to barely crawl out of the cellar, but is still down -90% since the beginning of the experiment. NEMis the worst overall performer (down -94%) followed by IOTA which is down -91%. My initial $100 investment in NEM is worth just $5.91 and IOTA is worth $8.21.
The total crypto market cap increased over $25B in April, up +18% from last month's report. It is down -70% since the beginning of the experiment, January 1st, 2018. At $171B, the market is at its highest point since November 2018.
Bitcoin dominance jumped quite a bit in April, now standing at nearly 55%. This is the highest point Bitcoin dominance has reached so far in the experiment.
My Top Ten of 2018 portfolio increased nearly $15 in total value this month. Another tiny gain, but noteworthy, as ending three months in a row in positive territory is a first so far in the experiment.
If I cashed out today, my $1000 initial investment would return about $181, down -82%.
Another rare event: I have almost always ended months setting a record low in terms of value over the life of the experiment. April marks the third month in a row where this has not the case.
Recording three solid months in a row is new territory for this experiment. While it feels like the bottom could drop out again any day, the string of positive months keeps increasing.
Of note this month is the record high Bitcoin dominance, the highest since the experiment started in January 2018. This, coupled with the rise in the crypto market cap, shows that while enthusiasm for crypto is growing, it is focused on the most well know options - people are cautious at the moment about investing in altcoins, but seem to be more willing to invest in Bitcoin.
On a related note, Bitcoin reclaimed the overall lead this month in a convincing manner - it is 7% ahead of second place Litecoin.
The experiment's focus of solely holding the Top Ten continues to be a losing proposition. While the overall market is down -70% from January 2018, the cryptos that began 2018 in the Top Ten are down -82% over the same period of time. At no point in the experiment has this investment strategy worked: the initial 2018 Top Ten continue to under-perform compared to the market overall.
The 12% difference is up significantly from last month's 8% difference. It is the widest gap so far and was also seen at one point last year (September 2018).
I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. After a pretty significant December dip, the stock market continues to rebound. It's up over +10% since the beginning of 2018, so that $1k investment I threw into crypto would have yielded +$100.
February, March, and now April have been quietly solid months for crypto. I personally would be quite satisfied to have these slow, steady $15B-$25B monthly gains for a while instead of the volatile periods, but it does feel a bit like the calm before the storm.
Thanks for reading and the support for the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports.
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So lets imagine that ww3 would not destroy everything completely. Would acquiring bitcoin paper wallet be a smart move before such world wide crisis? Or physical gold? Not even mentioning food and water, which are the number 1 priority. What are your thoughts? How would such events affect Bitcoin value? Due to the fucked up banking system we see today.
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Listening to music is easier than it has ever been. Spotify, Apple Music, and SoundCloud are all ready to fill your ears with more music than you could ever listen to. As a user, you pay a fixed monthly fee for this easy access and the streaming service then passes that money on to the artist right? Well, not quite. The music industry in 2018: YouTubers are stars, stars are brands, brands produce content, content is everything, everything is content, and nobody pays for music. Things have changed a lot in the music business recently.
While on one hand, the traditional infrastructure has morphed and shrunk, the individuals who create and engage with the art itself have grown, totally changing the way they think about business, branding, and what it means to have a successful career.
What’s been going on in the music industry over the past quarter century has been a steady development towards decentralization. Where once institutions like record labels, studios, distribution centers, and record sales defined what success was in the music business, advents like streaming platforms, digital audio workstations, and the disintermediating power of the internet have eroded the landscape into a more even playing field.
The potential blockchain technology holds to take the music industry — and the entire entertainment industry, for that matter — to the next plane is multifarious. Whether it’s through crowdfunding, programmatic IP, distribution, event ticketing, ownership of non-fungible assets and collectibles, streaming, blockchain technology and (sometimes, but not always) digital currencies, blockchain can be used to re-imagine the entire process of how music and art is funded, created, distributed, consumed, and all over again.
This is why music and entertainment have become some of the most active spaces in the blockchain world for technological development. Many people may look at cryptocurrencies like Bitcoin and think that blockchain is all about finance and deep tech that won’t affect them, but scores of music-centric blockchain startups are proving that not only can decentralization create substantive change in the daily lives of everyday people.
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Hey everyone,
I was lucky enough to record a podcast with Andrew Craig - author of brilliant finance book 'How To Own The World'. The book has been the second highest rated book about investing on Amazon.co.uk after Ben Graham’s investment classic “The Intelligent Investor”.
I wanted to share my highlights and key takeaways from the conversation here because I have learnt so much from Andrew (over the past few years). If you are interested in personal finance (as you should be because you're in this subreddit) you will learn A LOT from this podcast episode. The notes below are a great summary also.
You can listen to the episode in full here (or just read the below notes):
Website | iTunes | Spotify
