The Week To Be In Crypto [6/25/18]
By: Jonathan Tompkins
Tags: Cryptocurrency, Bitcoin, Blockchain

Market Overview

Bitcoin is the black knight, it is invincible, but how many limbs do we have left?

There is a lot concern around the price, a lot of charts and whatnot going around trying to explain why prices aren’t breaking out for another run, but there is also unprecedented progress being made on projects. I have stopped really looking at the price too much and evaluating everything in relative value. Also, when projecting what a fair price is for a token my back of the napkin calculus looks at the current price in BTC or ETH, the relevant supply (circulating or total, depending on use case) and adjust based on $1000 ETH or $10000 BTC. Does it still seem like a good value, then I’ll get in, if not, it may be best to hang on the BTC/ETH for right now.

What I’m Buying

With the down market its hard letting go of some big losses but its necessary to move funds into assets i consider to have a higher probability of success. Not actively buying too much new, but I am growing my positions in the below.

EasyDEX.PB — Can contribute by sending bts to easydex-pool from a bitshares DEX (can help with that if needed). PBs sent daily EOS style — https://medium.com/@easydex/the-easydex-portfolio-builder-token-campaign-e371e1c67fac DALA — New roadmap coming up with some great additions. Trade this account in forkdelta — https://etherscan.io/token/0xa87c3ec87eb802aad080df0adb331e504d327e5d (NEVER follow a forkdelta link directly) AURA — See podcast link below

Weekly Case Study

Something I have done that worked out well, didn’t work out well, or maybe just warrants further thought.

Yesterday was the conclusion of the Metronome token sale. They held a reverse auction of 8 million tokens over a whole week. With around 30 minutes left less than 1% had sold and the price was around $5 or so. As the price went down every minute a few more tokens would be purchased. I thought anywhere $1–5 was a pretty good price, but there were so many tokens left I held on hoping for $1. Around $1.50–2 range %50 of the tokens disappeared, and before I could unlock my ledger they were all gone. One address bought %20 of the supply and the top 10 addresses hold %40 (and judging by the amounts held I think many of the top 20 holders are the same entity). The tokens are already on forkdelta, you can buy though their wallet, and they will hold a daily auction in perpetuity so I am hoping to find some good opportunities to accumulate, but immediately after the sale the price was 3x the best sale price. So what can be gleaned from this?

Whales run the show in crypto No one has figured out a good ICO model to distribute tokens to a wide audience (not just getting whale-hoarded) Everyone needs to remember #1 when planning for participating in this industry As an individual you will NOT get the best price in ICOs or other similar activities, don’t think you will Make a plan and stick to it. The worst plan is no plan in such a volatile industry

Coming Up This Week

Etherisc token sale kicking off (only accredited for US). Some live products and 25+ in development.

I’m moving! (This has been distracting so I haven’t been paying that much attention to crypto events this week)

Recommended Media

Podcasts

https://multicoin.capital/2018/06/19/podcast-tushar-and-kyle-on-invest-like-the-best-podcast-with-patrick-oshaughnessy/

https://soundcloud.com/crypto-street-podcast/episode-71-alex-wearn

https://thebitcoinpodcast.com/hashing-it-out-12/

Reading

https://medium.com/@wmougayar/a-guide-for-blockchain-usage-metrics-bed86b58df94

https://medium.com/spankchain/development-update-008-june-22nd-2018-85d95f766153

https://multicoin.capital/2018/01/17/an-overview-of-stablecoins/

Follow Me

twitter: https://twitter.com/Tompkins_Jon

linkedin: https://www.linkedin.com/in/thejonathantompkins

telegram: https://t.me/joinchat/FqrpRUo8CKHV8gGKRuNNNQ

Weigh in on what i should write about next

**None of the above should be considered investment advice**

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