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I bought $1k of the Top 10 Cryptos on January 1st, 2019 (Oct Update - Month 22)

I bought $1k of the Top 10 Cryptos on January 1st, 2019 (Oct Update - Month 22)

EXPERIMENT - Tracking Top 10 Cryptos of 2019 - Month Twenty-Two - UP +66%
Like crypto and numbers? Or want to detox from the first meme weekend? Welcome!
\Note - price snapshots are always taken on the 1st of each month, so numbers below are before crypto spiked in early Nov.**
See the full blog post with all the tables here.
tl;dr
  • Moons to first one to find the three hidden cultural references in this post.
  • What's this all about? I purchased $100 of each of Top Ten Cryptos in Jan. 2019, haven't sold or traded. Did the same in 2018 and 2020. Learn more about the history and rules of the Experiments here.
  • October - BTC had a great month, followed by Litecoin and BCH. Crypto diverged from traditional markets this month, a welcome change.
  • Overall since Jan. 2019 - Bitcoin (+262%) still far ahead, followed by ETH (+191%).
  • 2019 Top Ten performing best out of the three experiments.
  • Combining all three three years, Top Ten cryptos are tied with the S&P if I'd taken a similar approach.

Month Twenty Two – UP 66%

2019 Top Ten Snapshot for October
The 2019 Portfolio had a solid month, and was the best performer of the Top Ten Crypto Index Fund Experiments. Most of the cryptos ended October in positive or neutral territory, while the losses of the worst performers were no biggie (at least for crypto).

Question of the month:

In early October, the US Commodity Futures Trading Commission (CFTC) charged this crypto exchange with illegally operating an unregistered trading platform.

A) Bittrex
B) Binance
C) Bitmex
D) That other crypto exchange that starts with the letter “B”
Scroll down for the answer.

Ranking and October Winners and Losers

2019 Top Ten Ranking - 40% dropout rate
After losing quite a bit of ground in the rankings in September, the 2019 Top Ten rebounded a bit in October. Only BSV finished down on the month, down two places (from #9 to #11) and dropping out of the Top Ten. The rest either held or climbed: EOS, Tron and Stellar each advanced one position each and Litecoin picked up four places and was able to rejoin the Top Ten.
It’s good to have LTC back in the familiar confines of the Top Ten, as last month it found itself on the outside looking in, for the first time since the Experiments started back in January 2018.
40% of the crypotos that were in the Top Ten on January 1st, 2019 have dropped out: Tron, Stellar, BSV, and EOS have been replaced by BNB, DOT, ADA, and LINK.
October WinnersBig Poppa BTC had a great month, finishing up +25%. Second place goes to LTC, up +17% in October, followed by BCH, up +14%.
October Losers – The losses were moderate this month, but the L for October goes to BSV, which lost -7% and fell out of the Top Ten. EOS was second worst performing, down -5%.
For overly competitive nerds, here is a tally of which coins have the most monthly wins and losses during the first 22 months of the 2019 Top Ten Experiment:
2019 Ws/Ls
Because it's the default winner in down months, Tether is still far ahead in terms of monthly victories (7). That’s more than twice as much as second place BSV, BTC, and ETH. And although BSV is up 74% since January 2019, it dominates the monthly loss count: it has now finished last in nine out of twenty-two months (paying attention, swing traders?). And XRP is still the only crypto that has yet to notch a monthly win.

Overall update – BTC’s lead increases, XRP back to the basement, 2019 Top Ten pulls ahead of other Experiments.

BTC extended the lead it carved out last month over second place ETH in October. The top two are up +262% and +191% respectively, followed distantly by Litecoin, which is up +79% since January 2019. The initial $100 investment in BTC is currently worth $369.
For the first time since April 2019, BSV has dropped out of the Top Ten.
Twenty-two months into the 2019 Top Ten Index Fund Experiment, 70% of the 2019 Top Ten cryptos are either flat or in the green. After barely escaping the basement last month, XRP has once again sunk to the bottom of the pack, down -33% since January 2019.
At +66%, the 2019 Top Ten Portfolio has pulled ahead of the 2020 Top Ten Portfolio’s +61% gain and both are far, far ahead of the 2018 group , which is down -74% (more on that below).

Total Market Cap for the entire cryptocurrency sector:

Total market cap since Jan 2019 is +215%
Since January 2019, the total market cap for crypto is up +215%. The overall market gained about $50B in October, ending the month just over the psychologically important $400B mark. This is now the highest month-end level since the 2019 Top Ten Experiment began 22 months ago.

Bitcoin dominance:

Are you into BitDom?
After spending much of the year locked in the 65% range, BitDom took a short break in the summer to dip it low, but then has picked it up slow, and has now popped back up to 63%. As always, a high Bitcoin dominance signals less of an appetite for altcoins. Zooming out, the BitDom range since the beginning of the experiment in January 2019 has been between 50%-70%.

Overall return on investment since January 1st, 2019:

The 2019 Group gained $122 in October, so after the initial $1000 investment, the 2019 Top Ten Crypto Portfolio is worth $1,660.
2019 Top Ten Index Fund Experiment ROI
For some context, here’s a look at the ROI over the life of the first 22 months of the 2019 Top Ten Index Fund experiment, month by month:
2019 Top Ten ROI summary
Unlike the completely red table you’ll see in the 2018 Top Ten Experiment, the 2019 crypto table is almost all green. The first month was the lowest point (-9%), and the highest point (+114%) was May 2019.
At +66%, the 2019 Top Ten Portfolio is now the best performing out of the three Experiments but not by much: the 2020 Top Ten Portfolio is up +61%.
Speaking of the other Experiments, let’s take a look at how the 2019 Top Ten Index Fund Portfolio compare to the parallel projects:
Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,537‬ ($264+ $1,660 +$1,613).
That’s up about +18% for the three combined portfolios, compared to +11% last month.
Here’s a table to help visualize the progress of the combined portfolios:
2018, 2019, 2020 Top Tens combined ROI
To sum up: +18% gain by dropping $1k once a year on whichever cryptos happened to be in the Top Ten on January 1st, 2018, 2019, and 2020.
But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, only five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC. Let’s take a look at those five:

A tie: BTC catches up to ETH this month for leader of the Three Year Club
Up until this month, Ethereum would have been your best bet. As of the end of October, it’s basically a tie between BTC and ETH. Both are up +121%, (although BTC is technically $21 ahead of ETH).
On the other hand, if I had followed this world’s slowest dollar cost averaging approach with XRP, I’d be down -32%.
With BCH I would have just about broken even.
Alright, that’s crypto. How does crypto compare to the stock market?

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiments to have a comparison point with traditional markets. The S&P continued to fall from an all time high in the summer, and is now up +30% since January 2019.
S&P since Jan 2019? +30%
The initial $1k investment I put into crypto 22 months ago would be worth $1,300 had it been redirected to the S&P 500 in January 2019. +30% is not a bad return at all. But the 2019 Top Ten Portfolio is up more than double (+66)% over the same time period.
That’s 2019. But what if I took the same world’s-slowest-dollar-cost-averaging $1,000-per-year-on-January-1st crypto approach with the S&P 500? It would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1220 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1300 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1010 today
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,530.
That is up +17.6% since January 2018. Compared to a +17.9% gain of the combined Top Ten Crypto Experiment Portfolios. You can also compare against five individual coins (BTC, ETH, XRP, BCH, and LTC) by using the table above if you want.
It’s small, but that tiny 0.3% difference in favor of crypto. That’s now seven monthly victories for the S&P vs. three monthly victories for crypto, all clustered in the second half of the year.

Crypto re-takes the lead in October....barely

Conclusion:

Thanks mainly to Bitcoin, October was a good month for crypto and a good month for the 2019 Top Ten Portfolio. As traditional markets have struggled over the last few months, crypto seems to be headed in the opposite direction. I’m looking forward to seeing if those trends hold in the last few months of a crazy year.
Take care of each other out there, stay safe.
Thanks for reading and for supporting 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. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2020 Top Ten Experiment.

And the Answer is…

C) Bitmex
In October, the Commodity Futures Trading Commission filed money-laundering and other charges against BitMEX for illegally operating in the US.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (Oct Update - Month 34)

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (Oct Update - Month 34)

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month Thirty-Four - Down -74%
See the full blog post with all the tables here.
tl;dr
  • I'll give the first one to find the four hidden cultural references some moons.
  • What's this all about? I purchased $100 of each of Top Ten Cryptos in Jan. 2018, haven't sold or traded. Did the same in 2019 and 2020. Learn more about the history and rules of the Experiments here.
  • October - BTC and Litecoin had a very good month and crypto as a whole did much better than traditional markets.
  • Overall since Jan. 2018 - Bitcoin still far ahead. And, for the first time since I started this experiment back in Jan. 2018, I'm happy to report: BITCOIN HAS BROKEN EVEN!!!
  • Combining all three three years, Top Ten cryptos is tied with the S&P if I'd taken a similar approach.

Month Thirty Four – Down 74%

2018 Top Ten Summary for October
After an all-red September, it’s nice to see a bit of green this month. Thanks mainly to Bitcoin, the 2018 Top Ten Portfolio finished October with modest gains overall.
But, STOP THE PRESS, what is that!??! Green in the “Total % Change” column!?!? Yes indeed: for the first time in 34 monthly updates, I’m happy to announce that BTC ended October worth more than the price I paid for it on the 31st of December, 2017. Although only up +4% overall, it’s been a long road: this small 2018 Top Ten victory is to be celebrated.

Question of the month:

In October, this global payment service announced it will support cryptocurrency buying, selling, and shopping through its platform.

A) Paypal
B) Square
C) Stripe
D) Alipay
Scroll down for the answer.

Ranking and October Winners and Losers

Rank of 2018 Portfolio - 40% of cryptos are drop outs
Not much movement this month, a bit strange for the 2018 Top Ten Portfolio. Only three cryptos shifted positions in October: NEM’s Top Twenty hopes seem to be fading fast (it dropped from #22 to #24); XLM picked up one spot (#18 to #17); and, much to the relief of long time crypto-ers with a soft spot for the silver to BTC’s gold, Litecoin was able to stop its freefall, rebounding back into the Top Ten nicely, picking up four spots (#12 to #8). Welcome back LTC.
Drop outs: After thirty-four months of this experiment 40% of the cryptos that started 2018 in the Top Ten have dropped out. NEM, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, LINK, and most recently, DOT.
October Winners – For the second month in a row, this month’s W goes to Bitcoin, up +25% for the month. Litecoin finishes the month in second place, up 17% and climbing back into the Top Ten.
October Losers – For the second month in a row, this month’s L goes to NEM, down -16%. IOTA finished down -11%, the second worst performer of the month.
For the overly competitive nerds, below is a tally of the winners of the first 34 months of the 2018 Top Ten Crypto Index Fund Experiment. Bitcoin still has the most monthly wins (9) and Cardano in second place with 6 monthly wins. With another poor performance in October, NEM now has 8 monthly losses.
Every crypto has at least one monthly win and Bitcoin is unique as the only cryptocurrency that hasn’t lost a month yet since January 2018.
Ws and Ls - One coin to rule them all

Overall update – BTC far ahead and breaks even, ETH in distant second place. Dash in last place.

So here we are: point break even. On the 31st of December, 2017, I bought $100 worth of BTC (0.008) at $13,170. Nearly three years later that same 0.008 is worth $13,665. Although only 4%, it’s a symbolic victory and one that’s been a long time coming. The initial investment of $100 thirty-three months ago is now worth about $83. A distant second place, Ethereum is down -45% since January 2018.
At this point in the 2018 Top Ten Experiment, Dash is at the bottom. It has lost -93%. The initial $100 invested in Dash 34 months ago is now worth $6.52.
The 2018 Portfolio welcomed LTC back Top Ten in October. September 2020 was the first time since I started the experiment back in January 2018 that Litecoin had fallen out of the Top Ten.

Total Market Cap for the entire cryptocurrency sector:

Total market cap - back over the $400B mark for the first time in over 2.5 years
The crypto market gained about $50B in finished October over the psychologically important $400B mark, a level we haven’t seen since the end of April 2018.

Bitcoin dominance:

BitDom - growing
After a few months of dipping, BitDom shot back up to 63.1% in October. A big move, but for context, it was up over 68% earlier in 2020.
For even more context: since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on $1,000 investment since January 1st, 2018:

2018 Top Ten ROI
The 2018 Top Ten Portfolio gained about $25 bucks in October. Despite BTC breaking even, the portfolio overall is still struggling: if I cashed out today, the $1000 initial investment would return about $264, down -74% from January 2018.
Down -74% sounds bad (and it is), but the overall direction lately has been encouraging and a nice break from the negative eighties. Here’s a look at the ROI over the life of the experiment, month by month, for some context:

2018 Top Ten Monthly ROI - Red, red, red
The absolute bottom was -88% back in January 2019.
So the Top Ten Cryptos of 2018 are down -76%. What about the 2019 and 2020 Top Tens? Let’s take a look:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,537‬ ($264+ $1,660 +$1,613).
That’s up about +18% for the three combined portfolios, compared to +11% last month.
Here’s a table to help visualize:
Combined 2018, 2019, 2020 ROI
That’s a +18% (actually +17.9%) gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for three straight years.
But surely you’d do better if you went all in on one crypto, right?
Depends on your choice. Let’s take a look:
Three year club: BTC and ETH tied
Only five cryptos have started in the Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC. Knowing what we know now, which one would have been best to go all in on?
As of this month, it’s basically a tie between BTC and ETH. Both are up +121%, (although BTC is technically $21 ahead of ETH).
So: with $3,000 USD, dropped in $1k chunks on January 1st three times in a row since New Year’s Day 2018, you would be up +121%, by going all in on either BTC or ETH.
The worst choice? At this point in the experiment, that would be XRP, down -32%.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. The S&P 500 Index continued its fall from an all time high in August. It ended October up +22% since January 2018.

Monthly S&P since January 2018
The initial $1k investment into crypto on January 1st, 2018 would have been worth about $1220 had it been redirected to the S&P.
But what if I took the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments? Here are the numbers:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1220 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1300 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1010 today
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,530.
That is up +17.6% since January 2018. Compared to a +17.9% gain of the combined Top Ten Crypto Experiment Portfolios. You can compare against five individual coins (BTC, ETH, XRP, BCH, and LTC) by using the table above if you want.
Gentlemen and lady (hello lady, I see you back there) we have a tie.
Well, not quite a tie, crypto is up .3% so crypto gets the win:
Three year S&P vs. Top Ten Crypto Experiments Combined ROI
That’s seven monthly victories for the S&P vs. three monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P in June.

Conclusion:

October saw a bit of divergence between crypto and the S&P: crypto up, S&P down. That separation is nice to see when it often seems that crypto moves in tandem with traditional markets. Two more months left in the year. What more will 2020 throw at us? And how will crypto and traditional markets respond?
Thanks for reading and for supporting 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. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

A) Paypal
Paypal announced in October that it will allow customers to buy, sell, and hold Bitcoin and other cryptocurrencies. Customers will also be able to pay with crypto at 26 million merchants on its network starting in early 2021.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (Sept Update)

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (Sept Update)
EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 33 - Down -76%
See the full blog post with all the tables here.
tl;dr
  • First one to find the three hidden cultural references gets some moons.
  • What's this all about? I purchased $100 of each of Top Ten Cryptos in Jan. 2018, haven't sold or traded. Did the same in 2019 and 2020. Learn more about the history and rules of the Experiments here.
  • September - BTC, although -8%, outperforms the field this month.
  • Overall since Jan. 2018 - Bitcoin miles ahead of the pack, and only one close-ish to break even point.
  • Combining all three three years, Top Ten cryptos underperforming S&P if I'd taken a similar approach.

Month Thirty Three – Down 76%

2018 Top Ten Summary for September
After a rough start to September, crypto spent the month trying in vain to claw back ground. While a few coins rebounded quite a bit from the monthly lows, most ended up finishing the month significantly down. Out of the 2018 Top Ten group, Bitcoin lost the least, down -8% in September. NEM followed it’s winning August (yes, you read that right) with the poorest performance, down -26%.

Question of the month:

Which cryptocurrency exchange won approval to create America’s first crypto bank in September?

A) Binance B) Binance.us C) Kraken D) Coinbase
Scroll down for the answer.

Ranking and September Winners and Losers

Rank of 2018 Portfolio - 50% no longer in Top Ten
A lot of shuffling in September. On the upside, Bitcoin Cash and Cardano gained one place each landing at #5 and #10 respectively. Cardano gets special mention for re-entering the Top Ten.
Heading the wrong direction were IOTA, NEM, Dash, and Stellar each falling two or three spots.
The big story though, for long time crypto watchers, was the ejection of Litecoin from the Top Ten, down five places from #7 to #12 in just one month. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not been in the Top Ten.
Drop outs: After thirty-three months of this experiment 50% of the cryptos that started 2018 in the Top Ten have dropped out. NEM, Litecoin, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, LINK, and most recently, DOT.
September Winners – Although it lost -8% of its value, this month’s W goes to Bitcoin. ADA gets second place, down -15% and climbing back into the Top Ten.
September Losers – As most probably expected after an extremely out of character victory last month, NEM came back down to earth in September, bigly, down -26%. Litecoin finished right behind, down -24% and dropping out of the Top Ten.
For the overly competitive, below is a tally of the winners of the first 33 months of the 2018 Top Ten Crypto Index Fund Experiment. Bitcoin still has the most monthly wins (8) and Cardano in second place with 6 monthly wins. With its poor September performance, NEM now has 7 monthly losses.
Ws and Ls - One clear winner
Every crypto has at least one monthly win and Bitcoin is unique as the only cryptocurrency that hasn’t lost a month yet since January 2018.

Overall update – BTC solidly in the lead, followed by ETH. Dash in the basement, LTC drops out of the Top Ten.

Even though BTC took a bit of a detour on its way back to break-even point, it is still far ahead of the field, down -17% since January 2018. The initial investment of $100 thirty-three months ago is now worth about $83. Second place Ethereum is down -49% over the same time period.
At this point in the 2018 Top Ten Experiment, Dash is at the bottom. It is currently worth $70.49, down from a January 1st, 2018 starting price of over $1,000. That’s a loss of -93%. The initial $100 invested in Dash 33 months ago is now worth $6.77.
The big story this month is LTC’s departure from the Top Ten, the first time since I started the experiment back in January 2018. Whether or not it will eventually fend off the new generation of coins remains to be seen, but it certainly is noteworthy to have one of the most well known and long standing cryptos drop out of the Top Ten. Consider pouring one out for Litecoin.

Total Market Cap for the entire cryptocurrency sector:

The crypto market lost over $35B in September and is down -39% since January 2018. The value of the overall crypto market is near where it was in August of this year, just a few months back. As painful as the beginning of the month was, looking at a table like this helps with perspective, especially if you’re panic prone.

Bitcoin dominance:

After steadily dipping for months, BitDom increased a bit in September, up to 57.5%.
For some context: since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on $1,000 investment since January 1st, 2018:

The 2018 Top Ten Portfolio lost -$50 this month. If I cashed out today, the $1000 initial investment would return about $238, down -76% from January 2018.
September broke an encouraging upward trend, but at least the portfolio is taking a break from the -80% range. Here’s a look at the ROI over the life of the experiment, month by month, for some context:
33 Monthly ROIs on Top Ten since Jan 2018
The absolute bottom was -88% back in January 2019.
So the Top Ten Cryptos of 2018 are down -76%. What about the 2019 and 2020 Top Tens? Let’s take a look:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,340‬ ($238+ $1,538 +$1,564).
That’s up about +11% for the three combined portfolios, compared to +31% last month.
Here’s a table to help visualize:
Combined ROI on $3k over 3 years - UP +11%
That’s a +11% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for three straight years.
But surely you’d do better if you went all in on one crypto, right?
Depends on your choice. Let’s take a look:

ETH for the win
Only five cryptos have started in the Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (unless Litecoin can make a comeback by the 1st of Jan. 2021, it’s not going to make the four year club!). Knowing what we know now, which one would have been best to go all in on?
Ethereum, by a pretty good margin: the initial $3k would be up +104%, worth $6,118 today. The worst choice of a basket to put all your eggs in at this point in the experiment is XRP, down by almost one third.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. The S&P 500 Index fell from an all time high in August, but is currently up +26% since January 2018.
S&P since Jan. 2018
The initial $1k investment into crypto on January 1st, 2018 would have been worth about $1260 had it been redirected to the S&P.
But what if I took the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments? Here are the numbers:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1260 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1350 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1050 today
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660.
That is up +22% since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios.
That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios.
S&P vs. Top Ten Crypto Experiments
That’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P in June.

Conclusion:

September was a tough month for both traditional and crypto markets. What’s next for the rest of 2020? More volatility is no doubt to come as we enter the last quarter of a truly unpredictable and exhausting year. Buckle up.
Thanks for reading and for supporting 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. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

C) Kraken
According to an official announcement in September, Kraken is “the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law.”
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

I bought $1k of the Top Ten Cryptos on January 1st, 2018. August update, -71%, special NEM EDITION!!

I bought $1k of the Top Ten Cryptos on January 1st, 2018. August update, -71%, special NEM EDITION!!

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 32 (-71%)
See the full blog post with all the tables here.
tl;dr:
  • purchased $100 of each of Top Ten Cryptos in Jan. 2018, haven't sold or traded, repeated in 2019 and 2020, update y'all monthly. Learn more about the history and rules of the Experiments here.
  • August - solid month for the 2018 Top Ten, led by, ladies and gentlemen (or lady singular, there in the back row, I see you) NEM!!!!! Up over +200% in August.
  • Overall - BTC still way ahead and approaching break-even point, ETH gaining ground, alone in the middle. NEM(!!!) finally escapes last place replaced by DASH.
  • Over three years, cryptos outperforming S&P if I'd taken a similar approach.

Month Thirty Two – Down 71%

2018 Top Ten Summary
August was not quite as strong as all-green July, but still a solid month for the 2018 Top Ten Crypto Index Fund Experiment. The gains were led by (I hope you’re sitting down for this one) (drum roll please) (you’re not going to believe this): NEM(!) which finished the month up over +200%. Really!

Question of the month:

The US Justice Department announced in August that it had seized cryptocurrency from terror groups in the Middle East. How much did they confiscate?

A) $2 million B) $4 million C) $8 million D) $32 million
Scroll down for the answer.

Ranking and August Winners and Losers

Rank since January 2018
Lots of movement this month: all but three cryptos moved positions in August and all but one (NEM!) in the wrong direction. Despite gaining in value, Dash had the biggest slide, down four in the rankings from #24 to #28. ADA fell three and has dropped back out of the Top Ten. XRP, Bitcoin Cash, IOTA, and Stellar each lost one place in the rankings. The lone exception is a big one: XEM(!) climbed an unprecedented 9 spots in August. The last time NEM was in the Top Twenty was May 2019.
After thirty-two months, 50% of the cryptos that started 2018 in the Top Ten have dropped out. NEM, ADA, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, CRO, and most recently, LINK.
August WinnersDon’t call it a comeback, NEM‘s been here for years. Up over +200% in August, NEM crushed the rest of the field. A distant second place was ETH, up +32% on the month.
August Losers – Down -13%, ADA was the worst performing crypto of the month, followed by Bitcoin Cash, down -9%.
For the overly competitive, below is a tally of the winners of the first 32 months of the 2018 Top Ten Crypto Index Fund Experiment. Bitcoin still has the most monthly wins (7). Cardano is a close second with 6 monthly wins. Despite its blockbuster August, NEM has the most monthly losses with 6. Every crypto has at least one monthly win and Bitcoin is unique as the only cryptocurrency that hasn’t lost a month in the 2.5+ years of the Experiment.
Ws and Ls

Overall update – BTC in the lead and inching towards break-even point, followed by second place ETH. NEM escapes last place, replaced by Dash.

Although BTC didn’t make any major moves this month, it continued to slowly but surely approach its break-even point. It is down about -10% since my purchase in January 2018. The initial investment of $100 thirty-two months ago is now worth about $90.
Ethereum is all alone in second place. It had a strong August, it picked up a lot of ground, but is still down -35% since January 2018.
The big story this month is at the bottom: NEM(!) gained +200% in August, crushing its counterparts and leaping out of last place, where it was so comfortable for so, so long. Although still down -83% over the life of the experiment, it moved from 10th place to 6th place in just one month. The new king of the basement is Dash, down -91%. The initial $100 invested in Dash 32 months ago is now worth $8.50.

Total Market Cap for the entire cryptocurrency sector:

The crypto market added nearly $43B in August. The last time we saw a similar level in terms of overall crypto market cap was way back in the fifth month of the 2018 Top Ten Experiment: May 2018.

Bitcoin dominance:

After being stuck in the mid-60s for most of 2020, BitDom dropped significantly this month, down to 57%. For context, the last time BitDom was this low was back in June 2019.
For some more context: since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on $1,000 investment since January 1st, 2018:

The 2018 Top Ten Portfolio gained about $17 this month. If I cashed out today, the $1000 initial investment would return about $287, down -71% from January 2018.
While -71% isn’t something to brag about, the monthly trend is encouraging. Here, take a look at the ROI over the life of the experiment, month by month, for some context:
2018 Top Ten Monthly ROI Summary
So, -71% from a bottom of -88% is moving in the right direction.
Or that’s what I tell myself as I cry myself to sleep nightly.
Hopefully the next stop will be in the -60% range, a level this experiment hasn’t seen in years.
So the Top Ten Cryptos of 2018 are down -71%. What about the 2019 and 2020 Top Tens? Let’s take a look:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,937‬ ($287+ $1,825 +$1,825).
That’s up about +31% for the three combined portfolios, compared to +23% last month. This marks the highest ROI of the three combined portfolios since I added the metric this year.
Here’s a table to help visualize:
Combined ROI on $3k over three years
A +31% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for three straight years, not bad. But surely you’d do better if you invested only in one crypto, right? Depends on your choice. Let’s take a look:

Three year club: shoulda gone with ETH
Only five cryptos have remained in the Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC. Knowing what we know now, which one would have been best to go all in on, at least at this point in the Experiment? Ethereum, easily: the initial $3k would be up +160%, worth over $7800 today. The worst performing at this point is XRP, down -17%.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. Defying global gloom, the S&P 500 reached an all time high in August and is up +31% since the beginning of the Experiment. The initial $1k investment into crypto on January 1st, 2018 would have been worth about $1310 had it been redirected to the S&P.
But what if I took the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments? Here are the numbers:
  • $1000 investment in S&P 500 on January 1st, 2018: +$310
  • $1000 investment in S&P 500 on January 1st, 2019: +$400
  • $1000 investment in S&P 500 on January 1st, 2020: +$90
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,800.
That is up over+27% since January 2018, compared to a +31% gain of the combined Top Ten Crypto Experiment Portfolios.
That’s a 4% swing in favor of the Top Ten Crypto Portfolios! As you’ll see in the table below, this is only the second time since I started recording this metric that crypto has outperformed the S&P had I taken a similar investment approach:

3 x $1k crypto vs. S&P
This is a big turnaround from the 22% difference in favor of the S&P just two months ago.
Although it’s fun to see crypto is in the lead, I’ll leave it to you to decide whether the heart condition you may develop by being in the cryptosphere is worth that +4% edge…

Conclusion:

August was a bit mixed compared to July, but still a very solid month for the 2018 Top Ten. Some interesting developments this month: Bitcoin is now within 10% of the price I paid on January 1st, 2018. ETH had solid gains and NEM(!) had a crazy month, tripling in value and finally climbing out of the basement. At the same time, traditional markets are doing well too: the S&P reached an all time high in August. It will be interesting to see how both markets perform during the final third of a very crazy year.
Thanks for reading and for supporting 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. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

A) $2 million
According to federal prosecutors, the US Justice Department seized $2 million worth of cryptocurrency from terror groups in the Middle East including ISIS, al Qaeda, and the al Qassam Brigades.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? -74%

I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? -74%

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 31 -74%
See the full blog post with all the tables here.
tl;dr: purchased $100 of Top Ten Cryptos in Jan. 2018, haven't sold or traded, repeated in 2019 and 2020, update y'all monthly. July was very strong for crypto. For 2018 Top Ten: ADA finished the month on top. ETH and XRP also very strong. Overall, BTC still waaaay in the lead and is approaching break even point. Three cryptos (IOTA,NEM, DASH) have lost over 90% of value. Over three years, cryptos outperforming S&P if I'd taken a similar approach.

Month Thirty One – Down 74%

Summary after 31 months
Crypto came roaring back in July after an almost all-red June. Each crypto in the 2018 Top Ten finished July at a significantly higher value, led by ADA which ended the month +57%.

Question of the month:

Which member of all three Top Ten Crypto Index Fund Experiments turned 5 years old in July?

A) Bitcoin B) Ethereum C) Bitcoin Cash D) XRP
Scroll down for the answer.

Ranking and July Winners and Losers

Not a ton of movement for the 2018 Top Ten group this month. Cardano and XRP both climbed one position while NEM gained two, clawing itself back into the Top Thirty. Dash headed in the other direction, dropping two places in the rankings.
Considering all that has changed in the world of crypto since the beginning of 2018, it’s interesting to note that only four out of the ten cryptos that started 2018 in the Top Ten have dropped out. NEM, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, and newcomer CRO.
July Winners – It was a very strong month: all cryptos made significant gains in July. But for the third month in a row ADA outperformed the field, gaining +57% in July. ETH finished a close second, up +55% followed by XRP which gained +52%.
July Losers – Even during a good month, NEM can’t catch a break. Its +23% gain made it the worst performer of the 2018 Top Ten.
How has your favorite crypto fared over the first 31 months of the 2018 Top Ten Crypto Index Fund Experiment?
Bitcoin still has the most monthly wins (7) but look at this: thanks to its strong 2020 including three straight monthly wins, Cardano is now right behind BTC with 6 monthly wins. Which project has the most monthly losses? NEM stands alone with 6. Every crypto has at least one monthly win and Bitcoin is unique as the only cryptocurrency that hasn’t lost a month. It came close this month, gaining “only” +26%.

Overall update – BTC approaching break even point, second place ETH in the lonely middle, NEM still worst performing.

Although it wasn’t able to keep pace with its peers in July, BTC continues to slowly but surely approach its break even point. It is down about $1,500 (-12%) since my purchase in January 2018. My initial investment of $100 thirty-one months ago is now worth about $88.
Even though Ethereum has lost half of its value since the experiment began, it is all alone in second place: no other crypto is close.
NEM seems comfortable in its usual place, down at the bottom. It has lost -94% over the life of the experiment. That initial $100 investment in NEM is now worth $5.78. Dash and IOTA join NEM as the only three cryptos in the Top Ten that have lost at least -90% of their value since January 2018.

Total Market Cap for the entire cryptocurrency sector:


Total market cap since Jan 2018
The crypto market added about $82B in July, making up a ton of ground. The last time we saw a similar level in terms of overall crypto market cap was way back in the fifth month of the 2018 Top Ten Experiment: May 2018.

Bitcoin dominance:

Le Bitdom since January 2018
Since Bitcoin receives much of the attention in the press, it may surprise the casual observer to learn that Bitcoin Dominance dropped quite a bit in July, especially considering BitDom had been stuck at roughly the same level for most of 2020. This signals an interest in altcoins and a willingness to buy into riskier cryptos.
Some context: since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on investment since January 1st, 2018:

The 2018 Top Ten Portfolio gained over $70 in July 2020. If I cashed out today, my $1000 initial investment would return about $260, down -74% from January 2018.
This sounds horrible but don’t hang yourself with a celibate rope: the 2018 return on investment is back where it was about a year ago. Take a look at the ROI over the life of the experiment, month by month, for some context:
Yes, you may notice that the 2018 Top Ten portfolio has finished over half of the first thirty one months down at least -80%, but it’s nice to see the low -70s for a change.
So the Top Ten Cryptos of 2018 are down -74%. What about the 2019 and 2020 Top Tens? Let’s take a look:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $3,6965 ($260+ $1,722 +$1,713).
That’s up about +23% for the three combined portfolios, compared to -10% last month. It also marks the highest ROI of the three combined portfolios since I added this metric this year. The previous high was +13% back in January 2020.
Having trouble visualizing? Don’t worry, I got what you need:
Combined ROI
So, a +23% gain by dropping $1k on whichever cryptos were in the Top Ten on January 1st for three straight years, fine. But what if I’d done the same with just one crypto? Bitcoin always wins, right? Thanks to Reddit user u/sebikun for the idea for a new metric and let’s take a look:
3-year club ROI
As you can see, only five cryptos have remained in the Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC. Best one to have gone all in on at this point in the Experiment? Ethereum, which would have nearly doubled. Worst choice? If I went with XRP, I would have been down -23%.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. The US economy continued to recover in July: the S&P 500 is back up to pre-COVID levels. The initial $1k investment into crypto on January 1st, 2018 would have been worth about $220 had it been redirected to the S&P.
But what if I took the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments? Here are the numbers:
  • $1000 investment in S&P 500 on January 1st, 2018: +$220
  • $1000 investment in S&P 500 on January 1st, 2019: +$310
  • $1000 investment in S&P 500 on January 1st, 2020: +$10
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,540.
That is up over+18% since January 2018, compared to a +23% gain of the combined Top Ten Crypto Experiment Portfolios.
That’s a 5% swing in favor of the Top Ten Crypto Portfolios! As you’ll see in the table below, this is the first time since I started recording this metric that crypto has outperformed the S&P had I taken a similar investment approach. This is a big turnaround from the 22% difference in favor of the S&P just last month.

3 x $1k crypto vs. S&P

Implications/Observations:

The 2018 Top Ten Cryptos have consistently under-performed when compared to the overall crypto market. This month, for example, the total market cap is down -29% from January 2018 compared to the -74% loss for the cryptos that began 2018 in the Top Ten. At no point in the first 31 months of the Experiment has this investment strategy been successful: the 2018 Top Ten as a group have under-performed the overall market every single month.
This of course suggests that I would have done a bit better if I’d picked every crypto, or different cryptos: throwing that $1k on January 1st, 2018 to Bitcoin, for example, would have lost me -12% instead of -74%.
On the other hand, this bit of diversification has served me well compared to going all in on NEM, Dash, or IOTA, all of which are down at least -90%.
The follow-on Top Ten experiments in 2019 and 2020 have seen similar, but not identical, results. There have been a few examples of the Top Ten approach outperforming the overall market in the first 19 months of the parallel 2019 Top Ten Crypto Experiment. And up until the last few months of the most recent 2020 Top Ten Index Fund group of cryptocurrencies, this approach had outperformed the overall market 100% of the time.

Conclusion:

Crypto had an undoubtedly strong month in July, green across the board. Was this just a happy blip, are we in for some consolidation, or are we on the way up? Stay tuned.
Final words: take care of each other, wear your mask, wash your hands.
Thanks for reading and for supporting 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. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

B) Ethereum
Ethereum celebrated its 5 year anniversary on July 30th, 2020.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? Down -81%

I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? Down -81%

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 30 - Down -81%
See the full blog post with all the tables here.
Way too long/don't like words: Halfway through 2020 report: Cardano wins for second straight month, BTC still way ahead overall, ETH alone in second place. NEM (poor, poor, NEM) still in basement, down -95% since Jan 2018. Markets still going up despite world on fire. 3 x $1k investments in crypto in 2018, 2019, 2020 are down -10% total. Made a few new tables for your viewing enjoyment.

Month Thirty – Down 81%

After two consecutive strong months, the 2018 Top Ten Crypto Index Fund Portfolio lost some ground in June. In a sea of red, there was one bright spot: Cardano finished the month up +9%.
Only ADA in the green

Question of the month:

The 2018 Crypto Index Fund Experiment began January 1st, 2018. Which of the Top Ten cryptos performed best at the end of year one?

A) Bitcoin B) Ethereum C) Bitcoin Cash D) Stellar
Scroll down for the answer.

Ranking and June Winners and Losers

There was a lot of movement with the 2018 Top Ten group this month. For the second month in a row, Cardano made the most upward progress, climbing two positions to reclaim its spot in the Top Ten at #9. By basically finishing the month flat, IOTA picked up one spot in the standings as well. Heading the other direction, XRP, NEM, Dash, and Stellar each fell one place in the rankings.
Thanks to Cardano’s strong month, the overall drop out rate shrank to 40%. In other words, four out of the six cryptos that started 2018 in the Top Ten have dropped out. NEM, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, and newcomer Crypto.com Coin (oh, hello CRO, where did you come from?).
June Winners – Winner, singular: ADA, for the second month in a row, up +9% while the rest of the field sank or held ground. After a great spring, Cardano’s summer is off to a strong start.
June Losers – For the second month in a row, XRP was the worst performer, down -15.9%. Close behind was Dash, down -15.6% in June.
How has your favorite crypto fared over the first 30 months of the 2018 Top Ten Crypto Index Fund Experiment? Most monthly wins (7): Bitcoin followed by Cardano with 5 monthly wins. The most monthly losses? A tie between Stellar and NEM, both with 5. All cryptos have at least one monthly win and Bitcoin stands alone as the only crypto that hasn’t lost a month (although it came close in January 2020 when it gained “only” +31%).

Overall update – BTC returning twice as much second place ETH, NEM in basement.

Although down -30% since January 2018, BTC is still well ahead of the rest of the pack. My initial investment of $100 is now worth about $70.
Ethereum is all alone in second place, down -68%, the initial $100 investment worth about $30.
NEM (down -95%) is still in last place. That initial $100 investment in NEM? Now worth $4.71.

Total Market Cap for the entire cryptocurrency sector:

The crypto market as a whole lost about $21B in June. This is down over half from January 2018 when the market was worth roughly $575B.

Bitcoin dominance:

After three months of zero movement, Bitcoin dominance finally declined, but not by much. It’s been stuck in the mid-60s to low-70s range for the past year.
Since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on investment since January 1st, 2018:

The 2018 Top Ten Portfolio lost about $20 bucks in June 2020. If I cashed out today, my $1000 initial investment would return about $187, down -81% from January 2018.
Here’s the ROI over the life of the experiment, month by month:
Ah, a sea of red
After a brief dip last month into the negative seventies, we’re back down to the very familiar negative eighties.
Fun fact: over the course of the 2.5 years since the beginning of the 2018 Top Ten Index Fund Experiment, the portfolio has finished over half of the first thirty months down at least -80%.
Tracking the Top Ten cryptos from January 1st, 2018 has been an undoubtedly painful exercise so far. But what about 2019 and 2020 when I repeated the experiment? Let’s take a look:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $2,710‬.
That’s down about -10% for the three combined portfolios. That’s compared to about +4% last month. Better than a few months ago (aka the zombie apocalypse) where it was down -24%, but not yet back at January (+13%) or February (+6%) levels.
Having trouble keeping up? Yeah, me too. You know what that means?!?!?! NEW TABLE DROP!!
Combined ROI of all three portfolios
Ah, that’s better. Much better.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. Even though the US economy is still reeling from the COVID shock, the stock market (as measured by the S&P) continued to recover in June. The initial $1k investment into crypto on New Year’s Day 2018 would have gained about $170 had it been redirected to the S&P.
Alright, let’s compare all three years of the crypto investments to hypothetical US stock market investments. Taking the same drop-$1,000-per-year-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018: +$170
  • $1000 investment in S&P 500 on January 1st, 2019: +$240
  • $1000 investment in S&P 500 on January 1st, 2020: -$40
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,370.
That is up over+12% since January 2018, compared to -10% of the combined Top Ten Crypto Experiment Portfolios.
That’s about a 22% swing in favor of the stock market, the widest so far this year. Last month, there was only a 6% difference in favor of the stock market. Here’s another new table that shows an emerging pattern:
Three Top Ten Crypto Portfolios vs. hypothetical identical approach with S&P 500

Implications/Observations:

The 2018 Experiment’s focus of solely holding the Top Ten Cryptos has not (and has never been) a winning approach when compared to the overall crypto market. The total market cap is down -54% from January 2018 compared to the -81% for the cryptos that began 2018 in the Top Ten.
This of course implies that I would have done a bit better if I’d picked every crypto, or different cryptos: throwing that $1k to Bitcoin, for example, would have me down by -30% instead of -81%.
On the other hand, this bit of diversification has served me well compared to putting all my eggs in NEM‘s -95% basket, for example.
To reiterate, at no point in this experiment has this investment strategy been successful: the initial 2018 Top Ten have under-performed each of the first thirty months compared to the market overall.
Repeating the Top Ten experiments in 2019 and 2020 has resulted in a slightly different story. There are a few examples of this approach outperforming the overall market in the parallel 2019 Top Ten Crypto Experiment. And for the most recent 2020 Top Ten Index Fund group of cryptocurrencies, this approach had outperformed the overall market 100% of the time…up until the last two months.

Conclusion:

We’re half way through a very strange year, where it seems we’re playing Biblical Plague Bingo. The US market have more or less bounced back from the shock, crypto markets to a lesser degree. What’s next for crypto in an extremely unpredictable year?
Final word: Be excellent to each other.
If you made it this far, thanks for reading and for supporting 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. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

D) Stellar
Even though it finished the year down -66%, Stellar outperformed the rest of the 2018 Top Ten Index Fund Experiment Cryptos after the first 12 months. Second place on January 1st, 2019 was Bitcoin, down -71%.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

I bought $1000 worth of the Top Ten Cryptos on January 1st, 2019 (Year End Update)

I bought $1000 worth of the Top Ten Cryptos on January 1st, 2019 (Year End Update)

2019 \"Index Fund\" EXPERIMENT - Tracking Top 10 Cryptocurrencies of 2019 - Year End Update - UP 2%
Full blog post with all the tables

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. I then repeated the experiment on the 1st of January 2019. 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 2019 crypto space. I am trying to keep this project simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet. I try not to take sides or analyze, but rather report and document in a detached manner letting the numbers speak for themselves.
The Rules:
Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2019. Hold only. No selling. No trading. Report monthly. Compare loosely to the 2018 Top Ten Experiment.

Month Twelve and Year End Tally – UP 2% since January 2019

After a strong October, 2019 ended with two straight bloody months, each of the 2019 Top Ten cryptos finishing in the red.
Here’s the finally tally after one year: after generous rounding, the 2019 Top Ten ended the year UP 2%. My $1,000 investment on the 1st of January 2019 is now worth $1017.
For context, this same group of cryptos was up +114% at the peak in May 2019. The worst month (and the only month in the red) was January 2019.
Additionally, the portfolio has fallen well behind the stock market as measured by the S&P 500 (see below).

Ranking and December Winners and Losers

Very little movement in December, with most of the cryptos glued to their positions. Only Stellar and Tron budged, each slipping one place to #11 and #12, respectively. 2019 has been a remarkably static year in terms of Top Ten positioning: most of the coins stuck close to their starting place. This is certainly not the case in the 2018 Top Ten Experiment where coins have fallen and fallen hard.
December WinnersTether, again. As always, when Tether is the best performer it signals a not great month for this portfolio. While not the nightmare it could have been, Tether won the majority of the months in 2019, as you can see in the chart below. Bitcoin finished in second place, down -2% in December.
December Losers – In addition to dropping out of the Top Ten, Stellar lost about one-fifth of its value followed by Tron which was down -15%.
For those keeping score, here is the 2019 year end tally of which coins had the most monthly wins and losses: Tether had twice as many wins as Bitcoin and BTCSV, which finished tied for second place. Bitcoin SV also finished the most monthly losses, finishing last in four months in 2019.

FINAL YEAR END RESULTS after tracking this group for 2019: Bitcoin far ahead, followed by Litecoin, and Bitcoin Cash. Stellar and Ripple at the bottom.

Let’s start with the winners: Bitcoin is up +89% and single-handedly prevented the entire 2019 Top Ten portfolio from finishing in the red (just barely). Bitcoin carved out a healthy lead in 2019: it is well ahead of second place Litecoin (+34%) and third place Bitcoin Cash (+22%).
Many others ended 2019 flat or nearly flat. BTCSV, EOS, Ethereum, and of course Tether all finished the year close to where they started.
The final three had significant losses: Tron, Ripple, and Stellar finished the year at -33%, -46%, and -61%, respectively.
2019 also saw Tron and Stellar booted out of the Top Ten, replaced by Binance Coin and Tezos.
Quite the fall from grace for Stellar, which was the champion of the 2018 Top Ten Crypto Experiment.
So there you have it. After one year, three coins in the green, four coins flat, three coins in the red.

Total Market Cap for the entire cryptocurrency sector:

Even though the year ended in a downward trend, the crypto market overall has had an undeniably positive year.
One Year (2019) Final Market Cap Figures:
  • Since January 2019 – the total market cap for crypto has increased +49%
  • Worst Month – January 2019 ($114B total crypto market cap)
  • Best Month – June 2019 ($321B total crypto market cap)
  • The last time the total market cap reached $300B: August 2019
  • The last time the total market cap reached $200B: November 2019

Bitcoin dominance:

Bitcoin dominance ticked back up in December and ends 2019 at 68%, a level not seen since September 2019. The range since the beginning of the year has been between a low of 50% in March and a high of 70% in September. The 70% figure in September also marks the Bitcoin dominance high since I started the experiment back in January 2018. The lowest level was 33% way back in February 2018.

Overall return on investment since January 1st, 2019:

After an initial $1000 investment, the 2019 Top Ten Portfolio is worth $1,017, UP about +2% in one year.
The humble +2% gain of the 2019 Top Ten portfolio is dwarfed by the overall crypto market’s +49% gain and Bitcoin’s +89% gain. As mentioned earlier, the value of this group of coins was dragged down by the four flat cryptos and the three that finished deep in the red.
  • Lowest 2019 Top Ten portfolio value: January 2019 ($915)
  • Highest 2019 Top Ten portfolio value: May 2019 ($2139)
Here’s what the 2019 Ten Ten portfolio has returned throughout the year:
The 2018 Top Ten Experiment is faring far, far worse, down -86%.
Taken together, here’s the bottom bottom line: after a $2000 investment in both the 2018 and the 2019 Top Ten Cryptocurrencies, my portfolios are worth $1,153.
That’s down about -42%.

Implications/Observations:

Congratulations to Bitcoin which significantly outperformed the rest of the field to end the first year of the 2019 Top Ten experiment on top. Litecoin and Bitcoin Cash deserve honorable mentions as well, finishing in second and third places.
Bitcoin also came out on top after the first two years of the 2018 Top Ten Index Fund Experiment.
Unlike the 2018 Top Ten, there were examples of months in 2019 where holding this Top Ten group cryptos outperformed the overall market. This is surprising, as this has not been the case with the other group: for each of the first twenty-four months of the 2018 experiment, the strategy of solely holding the Top Ten Cryptos was a losing approach.
That said, the year end difference between a +2% gain with the Top Ten approach vs. the +67% gain for the market overall of course implies that I would have done a lot better if I’d picked different cryptos. Or just stuck with Bitcoin and its +89% gain.
In retrospect, it seems an easy/obvious choice, as choices normally do when looking backward. But by tracking the progress of these experiments monthly, I’m able to report another obvious point: crypto is a highly dynamic market. Stellar was the best performer of 2018, for example. And Litecoin looked like it was the crypto to beat for much of 2019, up +300% at the mid-year point.
I’m also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. The S&P 500 is now up +29% since the beginning of 2019. My initial $1k investment into crypto would have yielded about +$290 had it been redirected to the S&P.

Conclusion:

Although the 2019 Top Ten ended the December fairly flat, the overall market and Bitcoin in particular had a very strong year. The year is staring off with a bang, the market is up, the halvening approaches, and current sentiment towards crypto seems positive – 2020 will no doubt be another interesting year for cryptocurrency.

Thanks and Future of the Experiments:

Thanks for reading and for supporting the experiment(s). I hope you’ve found them 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. If you’re interested in the 2018 Top Ten Index Fund Experiment, you can check it out here.
As for the future of the experiment:
  1. I’ll continue to hold and will report on the Top Ten Cryptos of 2018.
  2. I’ll continue to hold and will report on the Top Ten Cryptos of 2019.
  3. I’ve also decided to repeat the experiment with the Top Ten Cryptos of 2020.
Thanks again and all the best in 2020!
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

Round up of Cryptocurrency News #2 Week 13/07 - 19/07

Round up of Cryptocurrency News #2 Week 13/07 - 19/07
So much has happened this week! We saw a capitulation point of bitcoin before bears took over and we saw the selling pressure push Bitcoin down toward the $9000USD mark then move back up above $9100USD So far it has been a stable hold, however we may see some more action within the coming weeks.
 
Widespread scamming within the Twitter-sphere, Youtube and other platforms as Bitcoin and other cryptocurrencies may seem like fair game. Cryptocurrencies providing big payouts for scammers without the ability for reversals of accounts. Remember if something seems too good to be true, do some research or just plain do not respond/believe it. Stay safe and careful with your funds!
 
On the brightside, there has been even more adoption of cryptocurrencies as rumours of Paypal utilising cryptocurrency has been confirmed as they are developing crypto capabilities. In addition to this we received exciting news at the start of this week about Binance partnering with Swipe (SXP) and offering a debit card to spend BNB, SXP, BTC and BUSD. ( I will be keeping a swift eye on BNB and Swipe as its utilisation as tokens has just increased 43 fold).
 
Positive news for the Bitcoin network as its hashrate reaches all time high which helps to secure the network further even though mining profits have dropped by 50% from the recent halving. If you didn't know already the last Bitcoin will be expected to be mined in 2140 with its difficulty ever increasing and each time securing the network further. Processing units will have to become faster, stronger and most importantly more cost effective to continue to entice miners for the block rewards and further renewable energy practices.
 
Furthermore we can see Central banks and countries discussing and developing Central Bank Digital Currencies (CBDC). Read more about it here https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp and check out some of the developments in the world above. This shows the popularity and strong nature of cryptocurrencies. As the saying goes "If you cant beat them, JOIN them".
 
Overall, very solid week full of adoption, animation and anticipation. Another post next week for a weekly round up! See you then but in the mean time join us at our Gravychain Discord.
- DISCORD LINK: https://discord.gg/zxXXyuJ 🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates! - The Gravychain Collective: https://t.me/gravychain - My Crypto HQ: https://t.me/My_Crypto_HQ
Important/Notable/Highlights:

Special Mentions:
Other:
submitted by IOTAbesomewhere to Gravychain [link] [comments]

Zombie Apocalypse Edition - I bought $1000 worth of the Top Ten Cryptos on January 1st, 2019 (March 2020 Update)

Zombie Apocalypse Edition - I bought $1000 worth of the Top Ten Cryptos on January 1st, 2019 (March 2020 Update)

2019 \"Index Fund\" EXPERIMENT - Tracking Top 10 Cryptocurrencies of 2019 - Mar 2020/Month Fifteen Update - UP 6%
See the full blog post with all the tables here.
tl;dr - take care of yourselves, your families, and your communities. Keep up the social distancing, bend the curve, wash your hands. Be careful out there.
tl;dr II - Unlike the 2018 Top Ten, the 2019 Top Ten have over-performed the market since Jan 2019 by a seven point swing (2019 Top Ten +6%; S&P 500 since Jan 2019 -1%). Teaser for the next update I'll release on Reddit in a few days: the 2020 Top Ten have about a +30% swing over the S&P. Each 2019 Top Ten crypto lost ground in March. Overall, BSV has performed the best since Jan 2019, XLM the worst.

Month Fifteen – UP 6%

100% red this month, but the portfolio is still up about +6.5% since January 2019.

Ranking and March Winners and Losers

Not much movement in the rankings this month, despite the world ending. Bitcoin Cash and Tether switched places and Tron slipped one position to spot #16.
Stellar and Tron are still the only two cryptos to have dropped out of the 2019 Top Ten. They have been replaced by Binance Coin and Tezos.
March Winners – With all other cryptos falling, Tether wins the month. I’ll give BTC and XRP the distant second place trophy, both down -23% in March.
March LosersEthereum and EOS were the clear losers this month, down -38% and -36% respectively in March.
For those keeping score, here is tally of which coins have the most monthly wins and loses during the first fifteen months of the 2019 Top Ten Experiment: Tether is still in the lead with five monthly victories followed by BSV in second place with three. BSV also holds the most monthly losses, finishing last in five out of fifteen months.

Overall update – BSV barely in the lead over BTC, Stellar solidly in the basement.

BSV lost more ground to Bitcoin this month and now now holds a very slim lead, up +77% since January 2019 vs. second place BTC‘s +75%. Bitcoin Cash follows in third place, up +36% in the first fifteen months of the 2019 Top Ten Experiment. My initial $100 investment in BSV is now worth $179.
The strong returns we saw earlier in the year are evaporating: four out of ten from this group were up over the +100% mark in January, then two out of ten in February. At the end of March, that number is zero. That said, 60% of the 2019 Top Ten cryptos have either broke even or are solidly in the green.
Stellar is still solidly in the basement, down -64% after the first fifteen months. XRP is the second worst performer, down -51%.

Total Market Cap for the entire cryptocurrency sector:

The overall crypto market lost about $60B in March 2020 but is still up +46% since the 2019 Top Ten Experiment began in January 2019.

Bitcoin dominance:

Bitcoin dominance gained bout +1.5% in March, something we’ve seen time and time again over the course of all three experiments when the market suffers. The range since the beginning of the experiment in January 2019 has been between 50%-70%.

Overall return on investment since January 1st, 2019:

The 2019 Top Ten Portfolio lost $408 in March. After the initial $1000 investment, the 2019 Top Ten Portfolio is worth $1,065, up about +6.5%.
Here’s a look at the ROI over the life of the first fifteen months of the experiment, month by month:
As you can see, every month except the first month (January 2019) is green. At the lowest point, the 2019 Top Ten portfolio was down -9%, at the highest point, up +114% (May 2019).
How does the 2019 Top Ten Experiment compare to the parallel projects?
Taken together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my portfolios are worth $2,267‬.
That’s down about -24% (compared to about +5.6% last month).
How does this compare to the current global meltdown in traditional markets?

Comparison to S&P 500:

I’m glad you asked. I’m also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. The S&P 500 took another COVID-19 beating in March and is now down -1% since January 2019 (for reference, it was up +18% at the end of February).
The 2019 Top Ten portfolio is returning +6.5% over the same time period.
So, the initial $1k investment I put into crypto would now be worth $990 had it been redirected to the S&P 500 in January 2019.
But what if I took the same world’s-slowest-dollar-cost-averaging/$1,000-per-year-in-January approach with the S&P 500? It would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018: -$80
  • $1000 investment in S&P 500 on January 1st, 2019: -$10
  • $1000 investment in S&P 500 on January 1st, 2020: -$230
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $2,680.
That’s down about -11% compared to -24% with the Top Ten Crypto Experiment Portfolios.
That’s a 13% difference. Last month the gap was only 1%.

Implications/Observations:

While the crypto market as a whole is up +46% since January 2019, the 2019 Top Ten cryptos have gained just +6%, a 40% gap.
This is just like the 2018 Top Ten portfolio as at no point in the first twenty-seven months of the Top Ten 2018 Experiment has the approach of focusing on the Top Ten cryptos outperformed the overall market. There are a few examples, however, of this approach outperforming the market in the 2019 Top Ten Crypto Experiment. And the first three months of 2020 Experiment updates show that focusing on the Top Ten is a winning strategy, at least at this point in the 2020 Top Ten portfolio

Conclusion:

The effects of COVID only look to increase in April. Besides the massive societal and personal toll, how will traditional markets react and will people consider crypto a safe haven?
Final word: take care of yourselves, your families, and your communities. Keep up the social distancing, bend the curve, wash your hands. Be careful out there.
Thanks for reading and for supporting 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. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the recently launched 2020 Top Ten Experiment.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 10 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 5 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 3 coins
  12. Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  18. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  19. Neblio: Similar to Neo, but 30x smaller market cap.
  20. NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
  21. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  22. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  23. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  7. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  8. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  9. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  10. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
  11. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading

Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading
AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure. Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets. George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.” It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.
Let’s have a closer look at what that means to truly appreciate the significance of the partnership by covering the basics for those not familiar with wall street.
https://preview.redd.it/2z8h6uqos0m31.png?width=1200&format=png&auto=webp&s=a1c02216ce4eda8f3e06abdb6fe519b36efd1be6

What is an Institutional Investor / Trader?

An institutional investor is an organization that invests on behalf of the organization's members. They consist of hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds, or any other type of money management firm.
Institutional investors account for about three-quarters of the volume on the New York Stock Exchange (which alone handles more than $20 Trillion a year in volume). In the US, Institutional investors own about 80 % of the total market value of the equity (stock) market, which globally is worth more than $73 trillion.
Wall Street refers to the institutional investors I mentioned above whereas Main Street refers collectively to members of the general public who are not accredited investors and the overall economy as a whole.
Whilst the Equity Market is huge, Institutional investors also invest in other securities which are prime to be tokenised such as Real Estate Market (Globally worth $217 trillion), the Debt Market (Globally worth $215 trillion) and the Derivatives Market (Low end estimates at $544 trillion and high-end estimates at $1.2 quadrillion). All of which makes the current market cap for cryptocurrencies look like a drop in the ocean.

Who are AX Trading?

AX Trading is a SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA (Financial Industry Regulatory Authority)and SIPC ( Securities Investor Protection Corporation) regulated authorities. The SEC has some of the most stringent regulations in the world for listing securities and there are fewer than 50 SEC-registered Alternative Trading System Operators in the United States, of which only a handful are currently implementing Digital Assets. Others are awaiting regulatory approval with Coinbase, Circle etc are all looking at getting into this huge market.
https://www.coindesk.com/stonewalled-by-finra-up-to-40-crypto-securities-wait-in-limbo-for-launch
AX Trading have investors and sponsored brokers including the likes of Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion). AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.

What is an Alternative Trading System?

An Alternative Trading System (ATS) is an SEC-regulated trading venue which serves as an alternative to trading at a public exchange. ATS account for much of the liquidity found in publicly traded issues worldwide. They are known as multilateral trading facilities in Europe, electronic communication networks (ECNs), cross networks, and call networks
AX is the world’s first “Electronic Trading Network” (ETN) where institutional traders can proactively connect and trade with other counterparties in a secure environment. Unlike traditional stock exchanges/ECNs that show orders to everyone and traditional dark pools/crossing systems that show orders — presumably — to no one, AX allows institutional traders to pick and choose WHOM they want to notify and also WHAT information they want to share with them.
Institutional investors may use an ATS to find counterparties for transactions instead of trading large blocks of shares on national stock exchanges. These actions may be designed to conceal trading from public view since ATS transactions do not appear on national exchange order books. The benefit of using an ATS to execute such orders is that it reduces the domino effect that large trades might have on the price of an equity.

How does AX Trading Work?

The AX Trading process begins when one trader sends an “initiated” order to AX. The order can be routed to the AX ATS via one of our broker sponsors such as Credit Suisse. The initiated order triggers a “Call Auction” on AX, a period of time when the order will rest in AX to be matched against other orders from auction responders.
The Initiator of an AX auction decides who they want to invite to participate in the auction, whether they be all 800+ institutional members or targeted to specific ones, as well as how much info they want to disclose about the order. Based on these instructions, the AX ATS then notifies the members inviting them to participate in the trade.
The invited members can then participate in the trade by either placing buy orders of their own or placing sell orders. At the end of the AX auction period, all orders are brought together, and a match is performed.
In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, the advantage of their call auction model is it brings liquidity — in the form of participant orders to the buyer rather than them chasing liquidity.

What is a Security Token?

Security Tokens are different than Utility Tokens or Cryptocurrencies. A security token is a digital representation of a traditional security. It may represent shares in a company, interest in a fund, real estate, art collectables, or essentially any asset a party can own. Anthony Pompliano wrote an article explaining tokenised securities in more detail which you can see here
Security Tokens are digital assets subject to federal security regulations. In layman terms, they are the intersection of digital assets (tokens) with traditional financial products — a new technology improving old things. If cryptocurrencies like Bitcoin are considered “programmable money” then you can consider Security Tokens a version of “programmable ownership.” This means that any asset with ownership can and will be tokenized (public & private equities, debt, real estate, etc).
https://preview.redd.it/21cz6zvus0m31.png?width=569&format=png&auto=webp&s=883eb844e1061cddd585903549dde829098765c2
Quant Network community member David W also wrote an excellent piece on the benefits of tokenisation of assets in a lot more detail than what I will briefly cover here and strongly recommend you check it out.
The Tokenisation of assets is therefore inevitable, because it is a better way to record, exchange and monitor asset ownership for all parties involved. The amounts at stake represent many hundreds of trillions of US dollars

What are the benefits of a security token?

  • Lower Fees — having Smart Contracts and compliance programmed into the token itself removes the need for middlemen, reducing costs. Post Trade businesses such as clearing houses would also no longer be required further reducing costs.
  • 24/7 markets — Currently the major US stock markets trade between 9:30am and 3pm during weekdays only. Trading can be done 24/7 and globally whilst remaining compliant.
  • Fractional Ownership — This greatly increases liquidity for previously illiquid assets. Real estate, Artwork, even assets such as Oil Refineries are already in talks about being tokenised through Overledger. If you have an asset such as an oil refinery worth billions of dollars, then naturally this limits the market should you ever want to sell it. However with fractional ownership you could own a tiny percentage of it and receive profits from the oil refinery based upon the percentage you own, which exponentially increases the number ofpotential buyers, increasing liquidity.
  • Rapid Settlement — Currently it takes 3 working days to settle a securities trade, this can be reduced to minutes by having the asset and fiat represented on a blockchain and handled through smart contracts.
  • Automated compliance — Security tokens are programmable, and rules and regulations are hard-coded into the architecture of the token to ensure they always remain compliant. This means that they can be traded globally and still ensure they respect the relevant countries regulations that the participants are located in.
  • The benefits that a blockchain provide such as transparency, security, immutability, high availability. Regulators can also run a node and verify compliance in real time.

Security Token Issuance Platforms

Security token issuance platforms allow issuers to issue Security tokens that represent the security such as Shares in their company etc in return for capital. This is known as a Primary Market. Importantly it’s not just the issuance that they look after, it’s the whole life cycle of a digital security to ensure they remain continuously in compliance as they are traded etc. They also provide reporting to the issuer so they can see who owns the tokens and what dividends to pay out.
Securitize are one of the leading security tokens issuing platforms. They have created the DS Protocol, a blockchain agnostic protocol for security tokens which manages the whole lifecycle of a digital security, ensuring it remains continuously in compliance. They have issued a number of security tokens on the Ethereum network as well as recently working with IBM to tokenise the Corporate Debt Market (worth $82 Trillion). On the back of this they joined Hyperledger, an open source project which includes Enterprise blockchains such as Hyperledger Fabric which IBM is heavily involved with.
https://tokenpost.com/Quant-Network-Securitize-and-others-join-Hyperledger-blockchain-project-1544
They recently also became the first SEC-registered transfer agent, which means Securitize can now act as the official keeper of records about changes of ownership in securities.
There are many companies in this sector which are utilising various blockchains, Other examples include:
  • Harber — R Token protocol for Ethereum
  • Polymath — ST20 protocol for Ethereum
  • Blockstate — a security token issuance platform recently announced plans to migrate a number of ERC-20 tokens from the public Ethereum blockchain to the permissioned blockchain R3 Corda
  • Dusk — Uses the Dusk blockchain
  • Own — Uses the Own blockchain
And many more such as Nefund, Bankex, Capexmove, Swarm, Symbiont, Tokeny etc

https://preview.redd.it/vr6c7jdzs0m31.png?width=520&format=png&auto=webp&s=88431b27906099bb09f31ef1fdee0222dd96674f

Trading Venues

Whilst the issuance platforms above generally also include their own exchange where the token can be traded on, secondary markets such as those offered through traditional stock exchanges and Alternative Trading Systems provide significantly more liquidity.
Traditional Stock Exchanges have been very active in blockchain with some going through proof of concepts, to those like SIX SDX Digital Exchange which is due to launch later this year. They are using various blockchains and cover the full process from Issuance, Trading and Post Trade / Settlement services. I have briefly outlined which blockchain they are using / testing with along with source to read more about it below:
  • Switzerland’s Stock Exchange — SIX Digital Exchange issue, trading, settlement, custody — Corda — Source
  • Largest Stock Exchange in Germany — Deutsche Borse Franfurt Stock Exchange — Corda — Source and Source
  • South Korea’s Stock Exchange — Korea Exchange — Hyperledger Fabric — Source and Source
  • Japan’s Stock Exchange — Tokyo Stock Exchange — Hyperledger Fabric — Source which the consortium has now grown to 44 companies. Tokyo Stock Exchange are also testing JP Morgan’s Quorum for voting on the blockchain — Source
  • London Stock Exchange Group — Hyperledger Fabric — Source . They are also invested in Nivaura which utilises Ethereum — Source
  • Largest Stock Exchange in Europe — Euronext — Permissioned Ethereum via Liquidshare — Source as well as recently investing in Tokeny a blockchain based project based on public version of Ethereum — Source
  • Singapore Stock Exchange — Ethereum — Source

Post Trade — Central Security Depositories

Situated at the end of the post-trading process, CSDs are systemically important intermediaries. They thereby form a critical part of the securities market’s post-trade infrastructure, as they are where changes of securities ownership are ultimately registered.
CSDs play a special role both as a depository, involving the legal safekeeping and maintenance of securities in a ‘central depository’ on behalf of custodians (both in materialised or dematerialised form); as well as for the issuer, involving the issuance of further securities by issuers, and their onboarding onto CSDs’ platforms.
CSDs are also keeping a number of other important functions, including: dividend, interest, and principal processing; corporate actions including proxy voting; payment to transfer agents, and issuers involved in these processes; securities lending and borrowing; and, provide pledging of share and securities.
Blockchain technology will enable real-time settlement finality in the securities world. This could mean the end of a number of players in the post-trade area, such as central counterparty clearing houses (CCPs), custodians and others. Central Security Despositories (CSD) will still play an important role according to reports:
“CSDs could have an important role to play in a blockchain-based settlement system. As ‘custodians of the code, CSDs could exercise oversight of, and take responsibility for, the operation of the relevant blockchain protocol and any associated smart contracts.” Euroclear Report
Another group of 30 central securities depositories (CSDs) in Europe and Asia are researching possible ways to “join hands” in developing a new infrastructure to custody digital assets. The CSDs will attempt to figure out how to apply their experience in guarding stock certificates to security solutions for crypto assets.
“A new world of tokenized assets and blockchain is coming. It will probably disrupt our role as CSDs. The whole group decided we will be focusing on tokenized assets, not just blockchain but on real digital assets.”
You can read more about how blockchain will affect CSD’s here
Examples of CSD’s in blockchain
  • SIX Digital Exchange and Deutsche Borse are utilising Corda as explained in the trading venues section
  • DTCC the largest in the US process 1.7 Quadrillion US Dollars of securities every year and are planning on moving their Trade Information Warehouse to Axoni’s AXCore Blockchain (Based on permissioned version of Ethereum) later this year — Source
  • Canada CDS are using the Quartz blockchain from Indian IT Services Company Tata Consultancy Services — Source
  • Euroclear in collaboration with the European Investment Bank (EIB), Banco Santander, and EY are developing a blockchain solution — Source
  • French CSD’s too soon go live on Setl Blockchain — Source and Source
  • Russia’s National Settlement Depository is launching a blockchain project using D3ledger (based off Hyperledger) — Source

The Importance Of Interoperability

The evolution of DLT and the wide adoption across industries and across different market segments is resulting in many different ledgers networks, but the ultimate promise of DLT can only be realized when all ledger networks can seamlessly interoperate. — from the recent DTCC whitepaper with Accenture
Some challenges and constraints related to the market infrastructure ecosystem remain open and will need to be addressed in the future to sustain the development of DLT platforms for trading and the post-trade process. At this stage, the questions of interoperability and standardization across these DLT (probably permissioned) platforms remain open and we may see a list of platforms offering no scope for interconnection. This will prevent them from fulfilling the key “distribution” criterion of DLT. Another related challenge that may determine whether or not the technology is adopted is the ability to provide Delivery versus Payment (DvP) settlement, in particular in central bank money. Nevertheless, it is worth mentioning that settlement can also be facilitated in commercial bank money. — https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/technology/lu-token-assets-securities-tomorrow.pdf
It’s clear from the above that interoperability will be crucial in order to unlock the true potential of Distributed Ledger Technology. Issuance platforms will seek to interoperate with as many secondary exchanges as possible to provide maximum liquidity for issuers. Issuance platforms and secondary exchanges are each using a wide range of different blockchains that all need to interoperate as part of the trade process. CSD’s will also need to have interoperability between other CSD’s as well as to the secondary exchanges (again each using different blockchains).

Enter Quant Network’s Overledger

Quant Network’s blockchain operating system, Overledger, provides interoperability between any current and future distributed ledger technology as well as easily connecting Off Chain / Legacy networks as well as plans to connect directly to the Internet. Within 10 months it has proven it can provide interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. All without imposing restrictions on connected chains, being Internet scalable and able to easily integrate into existing networks / infrastructure.
https://preview.redd.it/8p6hi942t0m31.png?width=1920&format=png&auto=webp&s=b0536ea9981306feb8bd95788c66e9a5727a4d58
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
https://www.quant.network/blog/redefining-wall-st-with-decentralised-capital-market-infrastructure-the-possibilities-of-quant-networks-overledger-technology-in-regulated-capital-markets
Overledger enables Universal Interoperability where digital assets can move across blockchains so that they can interact with smart contracts on different blockchains. It does this by locking the asset on one blockchain and then representing it on another blockchain either by creating a representing token or representing it via metadata. This will enable all of these different parties such as Issuance platforms, Exchanges, CSD’s, traders etc to move the digital asset from their respective blockchain onto AX Trading’s platform for secure, immediate and immutable trading to take place. Potentially it would even allow Digital Assets / Securities to settled on a public permissionless blockchain such as the recently connected Binance Chain in a completely safe, secure and compliant way.
https://preview.redd.it/a3o9qxq5t0m31.png?width=443&format=png&auto=webp&s=78d7a7e7d47213bbb354336ba9d5ad92c1c2254a
Regulators would be able to run a node and view transactions in real time ensuring that compliance is being kept. Potentially they could also benefit from using Quant Networks Multichain Search capability http://search.quant.network/ to be able to fully track assets as they move across blockchains.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”

Securrency

AX Trading have also partnered with Securrency (who have previously tokenised over $260 million in real estate assets). Securrency provide a protocol that enables security tokens to remain in compliance regardless of what blockchain the token is on. Due to the layered approach that Overledger has adopted from the learnings of TCP/IP, this protocol can be easily integrated on top of Overledger to enable security tokens to move across blockchains as well as ensuring they remain in compliance with regulations programmed into the token.
https://youtu.be/vSQ2fu9iZGs

Delivery vs Payment (DvP)

A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash. DvP avoids counterparties being exposed to principal risk, i.e. the risk that the seller of securities could deliver but would not receive payment or that the buyer of securities could make payment but would not receive delivery. Following this requirement, a DvP securities settlement mechanism has to ensure that the delivery of securities and the payment of cash are linked in a way where one leg (obligation) of the securities trade is conditioned to the final settlement of the other leg (obligation) of the trade. Thereby final settlement is defined as “the irrevocable and unconditional transfer of an asset or financial instrument, or the discharge of an obligation by the FMI or its participants in accordance with the terms of the underlying contract”. — STELLA — a joint research project of the European Central Bank and the Bank of Japan
We have seen how Overledger can provide interoperability for the securities to move across Issuers platforms, integrate with Stock exchanges, Central Security Depositories and AX Trading. Now we need to be able to ensure that payment is guaranteed and in a way that offers immediate settlement which is irrevocable. To do this we need to represent FIAT on the blockchain so that it can interact with smart contracts and settle transactions on the blockchain.

J.P.Morgan’s Coin

J.P.Morgan is the largest bank in the United States and ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.535 trillion.
J.P. Morgan was the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.
With J.P.Morgan’s $2.6 trillion balance sheet, expertise in blockchain and global payments network, J.P. Morgan can seamlessly and securely transfer and settle money for clients around the world. J.P. Morgan are supervised by banking regulators in the United States and in the international jurisdictions in which it operates.

How does JPM Coin work?

A Buyer purchases JPM coins in advance which get represented on the Permissioned Quorum blockchain ($1 =1 JPM Coin). Quant Network’s Overledger could then provide interoperability to lock those tokens on Quorum and represent those onto another blockchain / AX Trading’s Network. By being able to represent securities and FIAT on the same blockchain (even though the underlying assets are on different blockchains) this provides instant finality / settlements to occur.
Once the seller receives the JPM coin in exchange for the securities they have sold they will be able to redeem them for USD. It also doesn’t necessarily mean that they have to have a JP Morgan account to redeem them, you could imagine in the future that the Bank instead redeems the JPM Coin and credits the users account. Similarly the buyer of the security token redeems the represented token and unlocks the security token on the original blockchain.
You can read more about JP Morgan’s Coin here as well as its use cases
J.P Morgan is betting that its first-mover status and large market share in corporate payments — it banks 80 percent of the companies in the Fortune 500 — will give its technology a good chance of getting adopted, even if other banks create their own coins. “Pretty much every big corporation is our client, and most of the major banks in the world are, too,” Farooq said. “Even if this was limited to JPM clients at the institutional level, it shouldn’t hold us back.”
Overledger enables different securities tokens / digital coins representing FIAT currencies to be brought together from the various permissioned / permissionless blockchains onto one platform where trading / settlement can take place. Overledger is the only technology that can do this today across the leading permissioned and permissionless blockchains as well as existing networks, all in a secure, scalable and easy to integrate way.
https://preview.redd.it/ngt7q7hdt0m31.png?width=738&format=png&auto=webp&s=60166bdc0fcdf72a502e3472a09de5ddb5e1eb69
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
https://preview.redd.it/ibecorcft0m31.png?width=1286&format=png&auto=webp&s=94540cf49654e36a8155f424c2a4bdb5fd549558
This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months, examples include the NYSE Bakkt launching Bitcoin futures later this month, Swiss Stock Exchange ($1.6 Trillion market Cap) is due to launch their digital exchange running on Corda (SDX) by the end of the year. The DTCC are due to launch their Trade Information Warehouse which processes $10 Trillion of cleared and bilateral derivatives by the end of the year. JP Morgan who transfer $6 Trillion every day are due to launch their JPM coin at the end of year and AX Trading is due to offer their first digital asset by January 2020.
Quant Network’ Overledger enables the bridging of traditional finance infrastructure with the new decentralised finance infrastructure DeFi of the future, helping to redefine Wall Street and Capital Markets.
https://medium.com/@CryptoSeq/wall-street-2-0-17252ffd8919
submitted by xSeq22x to QuantNetwork [link] [comments]

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