What is happening with the market?

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Lately, we have seen only red accents when looking at coinmarketcap.com, coingecko.com or any other cryptocurrency statistics website. Although today the market is looking a lot greener, the general perception of an incoming bull-run hasn’t changed much. There has been a lot of FUD in the crypto community as a lot of bearish tweets of getting out of cryptocurrencies and selling everything have become quite popular. 

On the other hand, the Bitcoin Maximalist camp is looking at this pretty positively, justifying that “many sh*tcoins are dying out,” which, in their opinion, is a particularly good sign. It leaves room for Bitcoin to grow. Whether this is true or not, no one knows, but the fact is that most of the ICOs and cryptocurrency projects from last year have lost 95-97% on average from their all-time high (ATH). 

Top losing altcoins

Source: OnchainFX

In the picture above you can see the top 15 of those coins which have lost the most value. As we can see Zclassic, GameCredits and Ethos are the top losing projects, having lost 99% in value. When looking into Zclassic twitter page, it was surprising to see only 1,862 followers. Their activity also is feeble. The last retweet (not even a post) was published on September 7. Also, there has been only 2 GitHub commits in the last 90 days. That all could lead up to an abandoned project.

However, GameCredits has working products like G-Nation which includes G-Play and G-Share. Their mission is to build a worldwide community for gamers and game publishers. However, looking at the price of GAME it looks like they are not doing that well. Especially, if users can purchase games with GAME, or earn it while playing. It looks like it’s not rather profitable for users to use it. Also, only 10 commits on GitHub in the last 90 days. On the other hand, their Twitter page is booming with followers (30k), and they are continually publishing their updates on the GameCredits Foundation. However, the fair point is that GameCredits are competing with an already established industry leader – Steam. Also, NEO (NEO) and TRON (TRX) are entering the blockchain gaming industry, and those are huge companies. How is that going to work out for GAME – we’ll see.

Speaking about Ethos, they have plans to build a universal wallet for all the cryptocurrencies available — kind of what Coinbase has now. Moreover, their internal token – ETHOS, was supposed to be a facilitator of the platform, by mainly reducing fees and allowing users to access certain services on the platform. Ethos also has lost 99% from their ATH. They claim that 60k users are using their platform with almost 1000 joining in every day. However, the thing is, they are planning to implement a fiat gateway with multiple features, which would lead up to thinking that their token might be dying out.

Bitcoin likes bear markets

Overall, the picture looks dreadful. The question is, whether the investors, who helped these projects to raise money, will ever get their return of investment. That is a good question which possibly is asked multiple times during the day. Especially after these bear moves, the market was performing in the last couple of days. These lows don’t necessarily mean that the market is dying out. Cryptocurrency markets have experienced multiple bear markets, and there is no sign that this should be the last one. The history shows that each one of the previous bear markets leads to even higher prices and larger market caps. Whether this is also going to be like that, we can only wait and guess.

The fact is that by each of these bear markets, the bitcoin price has retreated to a previous all-time high. As we can see in the picture below – this looks exactly the case. Now the question is – whether it might fall even lower – to a different previous ATH. Bitcoin price could fall to a $2000 mark or even lower – to a $1000 mark. Because if we remember, the rise from $1000 to anywhere around $4000 was pretty quick, so we wouldn’t be surprised to see even lower price setbacks.

The market

When looking at how this past year has been treating us – the picture is not so confident as we intended it last year. This was supposed to be the year of privacy coins, but that seems to be postponed till next year. The good thing is – this year has boosted the Bitcoins dominance over other cryptocurrencies. It survived the lowest point of 32% in January when the bear market emerged. Now resting at 53-54% for quite a while. It almost looks like it soon could reach the highs of December 2017 when it was around 67% continuing in a pace like this.

Source: Coinmarketcap.com

A few things that fall into our eyes are that Ripple has overtaken Ethereum in market dominance by almost 3%, which has happened only a couple of times in the history of Ethereum. Also, we can see that Bitcoin Cash is losing dominance pretty steadily and Litecoin somehow stays stable around its 1,5% market dominance.

Source: Coinmarketcap.com

The overall cryptocurrency market cap also had dropped quite significantly from its peak in January when it was $829 billion. Currently, it has suffered a severe drop from $210 billion to $130 billion in these last days. It was going sideways for about three months and now seeing this big of a decline, still kind of draws the descending pattern.

So when bull?

This is probably the most common question among crypto-supporters, and no one can quite answer it. The fact is that after a month we will have suffered a year-long bear market. Is it going to continue? The most realistic outcome in our mind would be that Bitcoin keeps loosing price, but gaining dominance. This bear could stop at $1100, and it also could stop at $2000. By all means, this is just a speculation. The price will rise when people start buying Bitcoin. What will be the most appealing price for people to start buying it? Also, at the moment, assets on this market are not individual. They all fall under Bitcoin, and if Bitcoin price ascends, altcoins follow. So we all have to wait for Bitcoin to make a move. 



Photo by Pexels.com

PundiX presents their new Blockchain Phone the XPhone!

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Just recently, during the Xblockchain Summit in Inaya Putri Bali, PundiX presented their new achievement – a blockchain powered smartphone
The XPhone, unlike traditional phones, doesn’t need a centralized mobile carrier, it runs independently, with the help of Function X Blockchain, which is a new blockchain invention by PundiX. As they say, Function X is not a simple public chain, it consists of five essential components and they believe it will answer a lot of challenges that are facing many blockchain platforms these days by increasing its scale and ability to publish dApps.

The five components include the Function X OS, Function X Blockchain, Function X IPFX, FXTP Protocol and the Function X Docker.

Function X OS is an Android 9.0 based operating system which will make it easier for developers and users to use and to develop new dApps.

Altogether they call this the Function X ecosystem which makes every XPhone a single node that has its own address and a private key, uniquely linked to their node names, “not unlike traditional URL and IP addresses,” says in their official announcement.

Interesting is that they have kind of made “their own internet” as well, changing the traditional way of how we use http://, and came up with a new FXTP:// protocol. The user will have to use this function if he, for example, would want to see someones pubic data, they would type FXTP://xxx.pitt, and if they would want to call, message or email someone, they would type a similar command – FXTP://call.pitt or message.pitt or mail.pitt.

“The transmission of data runs on a complex exchange of public and private key data and encryption but it can guarantee communication without interception,” they state in their blog.

Many say that during their Xblockchain Summit presentation they have made the first blockchain phone call. I couldn’t find more info on this, as there still isn’t a video provided. But the question is, whether the phone call was made between two XPhones or was it a call from the XPhone to a traditional/normal phone with a centralized mobile carrier? I believe this information is important to clarify because if it only works between their own phones, it would mean, that if I wanted to contact my friends, they would have to get a XPhone as well, this is crucial for mass adoption.

But in general, PundiX has proved to be a company which achieves goals and wants to change the classic ways of how we do things on the internet we know.

The fact that you won’t need a national mobile service provider alone stands aside and makes this project very appealing to follow in the future.

They have stated that the official release of the XPhone will be around Q2 2019, as well as they didn’t rush to provide an approximate price for the phone.

What do you think? Would you want a phone like this?



Photo by Canva.com

Zcash announces the release of Zcash 2.0.0

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In a recent announcement, Zcash has revealed their new 2.0.0 client, which is the first Sapling-compatible version of the Zcash node software. 

“Sapling represents over two years of protocol design and engineering with cryptographic breakthroughs that improve the performance and functionality of shielded (encrypted) transactions. Currently, most Zcash transactions use transparent addresses that function in the same way as Bitcoin. This is largely due to the computational cost of proving that shielded transactions are valid. With Sapling, we move one (giant) step closer toward the ubiquity of shielded addresses,” says in their blog post.

Sapling will activate on the testnet at block 280000, which is expected about a week after this release.


New Release: 2.0.0
What’s New in Sapling

BitDegree adds additional payment models, fiat is one of them

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BitDegree is a platform for online educational courses for variety of industries. These courses are, as they say, affordable and also for free. 

Until now, you could have bought those courses only with BDG tokens, but now BitDegree have added BTC/ETH and even Fiat payment methods.

BitDegree claims that based on their web-site traffic and real-world interest, their platform is one of the TOP ICO projects of all time, with more that 12k daily visits. That is a strong statement, taking the fact that the price of the token has only plummeted since the day it came out.

“We’ve already launched BDG token payments and started selling our first paid courses on the platform. What we noticed in the weeks that followed was that the barrier of entry for many students was too high. The BitDegree Token only payments left a lot of our daily users confused. However, this problem is not only native to BitDegree, it’s a problem for cryptocurrency altogether”, says in their blog post, “The majority of everyday users do not know what cryptocurrency is. This is the problem with blockchain, it’s a new technology and lacks mass adoption, user education.”

Hopefully with the help of this newly added fiat gateway, BitDegree students will start fully using the platform and the courses. But that leaves a strong “But” behind. What will happen to the price of BDG token? Will it die out? If the team itself understood that for this kind of a platform an implemented token just confuses its users, and they need a more widely accepted form of payment. And after all – aren’t we all distancing ourselves from the “fiat” world? Now it just looks like BitDegree has found out that their product doesn’t work with cryptocurrencies, as they say themselves: “To purchase a BitDegree course if you don’t already own cryptocurrency looks something like this.

  1. Creating a digital wallet that can support BDG tokens.
  2. Buying ETH or BTC with fiat on an exchange.
  3. Exchanging your ETH or BTC for BDG tokens from one of the available exchanges.
  4. Transferring your BDG tokens to your wallet.
  5. Getting a wallet address from BDG, sending your tokens to us and waiting for the course to unlock”.That is a whole lot of steps to go through just to get my online course. Then again – couldn’t they have anticipated this problem in the early stages of production? Somehow I think this is going to be the major problem for lost of lots of ICO’s. 



A big announcement from Ethos

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Ethos, previously known as Bitquence, posted on their twitter page an announcement saying:
“Hard to believe it’s been a year! We can’t wait for this next lap around the sun! Stay tuned for a big announcement coming tomorrow…”

Since it’s their year anniversary we should expect something big. 

This announcement really shook the Ethos market, which was one of the rare tokens flying with +16% during yesterday. 

But quite a lot of users are pretty disappointed with the Ethos team, because they have postponed the release of their universal wallet. The discussion started under @MichaelSuppo’s thread where he said:
“…And thus render Ethos the true ‘People’s champion’ after all.

I don’t think people quite get how much of a goddamn POWERHOUSE Ethos will be in a year!”

A lot of users accused him of shilling the Ethos token, but mostly tweeters were just expressing their disappointment with the team. For example @swede_in_cork tweeted “Please explain what it will be able to do in 6 months that no one else will be able to. I am honestly curious and am probably missing something”

He might be right, because if we look at what people are expecting from Ethos, is a universal all-in-one crypto wallet with fiat integration, but when looking under the FAQ in the ethos.io web page, they clearly state, when asking if they will accept fiat payments, that “No, not initially but we will make an announcement when any changes occur.” So considering that an announcement hasn’t been made yet, that could be one of the big news Ethos are willing to share.

Another tweeter @Cryptostevo1 wrote “Shingo (Ethos CEO) has let everyone down making investors wait too long for the UW. Binance already has the clients and with fiat gatway in development and going blockchain. Ethos has let the competition catch up fast. CZ has taken Ethos’s ideas and will execute them faster.”

And he also might be right, because Ethos have been sharing their idea for a year now, and it is only normal and healthy to the market that a considerable competition appears like Binance and others willing to make an all-in-one platform for the crypto community. 

Anyway a fiat payment system is not the general idea of Ethos, it’s the universal cryptocurrency portfolio/wallet, and that is why let’s not all get stuck up on that, let’s wait for todays announcement and hope that Ethos can finally bring us the wallet we’ve been waiting for.



BTC, ETH, XRP, BCH, LTC and USDT controls 69% of the crypto trading volume

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There are around 1600 coins in the market, but yet only six dominate the trading volume. Bitcoin is the clear leader with 33% of the 24h volume, then comes all the alt-coins with 31%, USDT with 17%, ETH 12% and XRP LTC and BCH are around 2-3% of daily crypto market volume. 

Another interesting fact is that around 50% (803 coins) of tokens have less than $10k of trading volume. These statistics could be saying that people no longer trust the overwhelming amount of tokens in the market and decides to stick to verified values. A few months ago crypto-community had a belief that the speculation of tokens was a good thing and healthy to the market, but now these statistics are showing the opposite.

The statistics provided in the diar.co blog could be comparable to the coinmarketcap.com (CMC) chart for total market capitalization (dominance), where the picture is being painted in very similar colors. BTC the absolute leader with 42.59% of market dominance, then comes ETH with 17.75%, XRP with 7,33% BCH with 4.92% and the rest (DASH, NEM, LTC, XMR, MIOTA, NEO) are around 2% of dominance. And then comes the second big block – other altcoins which covers 21,53% of the market dominance.

As we can see the picture comparing volume vs dominance, the number are almost alike percentage wise. Its clear that alt coins compile around 25-30% of the market, but the top 10 coins hold a position which might be very hard to change. Traders and people in general who operate with crypto have unconsciously stated their consent to these cryptocurrencies.



Funny: Do I own a shitcoin?

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An interesting web page has come up with a brilliant idea – a search bar with which you can find out, whether you own a shitcoin or not. 

It’s called www.doiownashitcoin.com

For example, when typing in BTC and pressing enter a funny message come up: “Is this a serious question? Bitcoin is king Bitcoin is gold. Bitcoin is God.”

When typing XRP, the message reads “Do you like centralized ‘cryptos’?”, moving on with OMG – “Sh*tcoin, but HODL it. Why not? You are holding sh*tcoins anyways”

Then we tried it out with DOGE and it said: “Such shit, very coin, but HODL for that yearly pump.”

Basically, everything you type in there is a sh*tcoin, with a few exceptions like RHOC, ETH, XLM, MANA, BNB, STEEM and many others which I didn’t try yet. But overall a fun website with a few minutes to kill checking whether you’re not a shitcoin hodler.