The Week to Be in Crypto [7/24/18]
Market Overview
A nice little jump last week for BTC which has held on pretty nicely (We seem to see positive moves when I post on a Tuesday, you’re welcome). A lot of tentative optimism out there and folks wondering if BTC or “alts” will move first. Since I am largely focused on the super-small mktcap plays I still think its a good time to regularly move into good projects with a lot of upside. Hopefully when they move its 5x + and, while I am very bullish on bitcoin I dont see it making a 5x run before smaller names make their moves. If you are playing the “get more BTC game” that’s all that matters. Trying to time things perfectly will just get you burned.
What Im Buying
Nothing new has caught my eye in the past week and when the big dog is flexing his muscles its hard to feel too confident moving BTC into anything else. I have seen a number of people talking about the btc/alt cycle recently and the expectation seems to be that as BTC runs up people will take profits and move them into the alts. This then drives the alt runs. Seems reasonable, I just have no intention of timing it so I am mainly sitting tight and keeping an eye out for a good exit out of projects Im not following closely anymore and accumulating some of the below:
- MET, AURA, IDXM, 0x, EasyDex.PB, DALA
I realize I have a pretty heavy ERC20 focus, as does the space really. I would love some suggestions of non-ethereum based tokens to check out. Drop a comment or ping me on any of the platforms listed below.
Case Study
A good friend got stranded in LA between two work obligations so he crashed with us this weekend. I have been talking to him about crypto for a while, and his interest is finally growing. I was also going through setting up a market maker bot on a tablet I recently bought for running it and he asked me what it was doing. He is in advertising, has no experience in “the markets” outside of buying some stocks in his fidelity account. I started talking about bids and asks and he had no idea what I was talking about. It was good to have a reminder of how the overwhelming majority of people, even if they get over the hurdle of wanting to buy crypto in general are faced with another obstacle, navigating the tools available to obtain what they’re looking for. We are still a looooooooong way out from nice, easy onramps and I have a hard time seeing widespread adoption until there are more user friendly methods of obtaining and exchanging tokens.
Events this week
Nothing jumps out on my calendar. I promise this will be the last I gush about FOAM for at least a while but I completed their registration last week and it was refreshing. They are really trying (with the help of token foundry) to do a utility token sale the right way, a couple highlights.
- You need to take a quiz to make sure you understand the project
- Tokens will not be transferrable for 45 days after sale, can only be used on the platform
- Before being able to transfer the tokens at any time you must prove you have actually used the platform
While this may seem onerous to those that are just looking to flip for a profit it is the best attempt I have seen to prove there is a real way to issue utility tokens that are actual utilities.
Recommended Media
Reading
A couple good sources for more in depth weekly updates on projects
Listening
Unconfirmed is pretty much weekly required listening IMHO.
Follow Me
twitter: https://twitter.com/Tompkins_Jon
linkedin: https://www.linkedin.com/in/thejonathantompkins
steemit: https://steemit.com/@j-o-n-t
telegram: https://t.me/joinchat/FqrpRUo8CKHV8gGKRuNNNQ (nothing really here yet but will start engaging if a few more folks join)
written on graphitedocs.com
