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Sep 04 2017

‘This Bloodbath is Your Next Opportunity’

Thus began an email that arrived – as if on cue – about an hour ago. It doesn’t quite matter that they were talking about a completely different subject; it was from one of the scores of services I subscribe to and it is so a propos to what has gone on this morning.

Prices of Bitcoin, Ethereum Drop…

But why?

Just last week, I was mentioning on Steemit that I saw a real possibility for Bitcoin to hit $5000 and Ethereum to hit $400 (again, it was already there once) by the end of Labor Day weekend. It seems, though, that China had other ideas.

China

China Says NO to the ICO

This is not totally surprising – China rumors have been out there for a few weeks, and what looked like a coming crackdown at the beginning of the weekend turned into an actual crackdown early this morning, as Chinese regulators – SEVEN OF THEM – said that ICOs were, in fact, illegal under Chinese law.

We can’t explain it as well as Coindesk can, so go check out their article.

This impacted Bitcoin because it’s the main currency that lots of people use, or are chasing, or have as the basis of their portfolio.

This impacted Ethereum because it seems to underpin the vast majority of ICOs and “token sales” – so of course it would drop.

This Will Impact Your Portfolio…

Just how much it will impact your portfolio remains to be seen, and depends upon how much China exposure you have, too.

For instance, one of our favorite new exchanges is Binance, and its BNB coin/token powers the exchange. BNB has been on a little bit of a roller coaster, and our own holdings have gone from 19,000 Satoshis up to 60,000 Satoshis (and then some) then back down into the 12K range today, before trading at 21,000 or so as we write this.

SIDEBAR: Here’s a REFERRAL LINK to a new exchange coming called Altcoin Exchange. Worth checking out, as you can potentially share in the trading fees if you refer enough users.

We’re prepared to weather this particular storm, but you may not be so inclined.

What About Other Altcoins?

Red Letter Day

Pick your poison: every coin on Poloniex’s list is down…except for BURST.

It might look like a bloodbath – and maybe it IS a bloodbath – but now we’re back to the point of this article…

This could be that buying opportunity you’ve been waiting for.

Ripple? 4685 Sats. (“Sats” is short for “Satoshis,” in case you’re wondering. And a “Satoshi is .00000001 Bitcoin.)

Digibyte? 420 Sats.

Bitshares? 2725 Sats.

It’s possible – possible, but Do Your Own Research – that these coins could be in ranges that they may not be in ever again. If you read up on each project and spend enough time on the forums, you could possibly convince yourself that any one of these coins might be poised for a rebound, and taking off for heights unknown.

Place Your Bets (and Hedge Them)

We have, since day one here, advocated spreading your risk around. It’s one of the reasons that we recommend the Passive Income Platforms like Bitconnect (AFFILIATE LINK over there) and Control Finance (another AFFILIATE LINK).

It’s also why we recommend having your coins on several exchanges if you’re trading, and storing them somewhere like a Trezor (AFFILIATE LINK) or in another cold storage solution if you aren’t.

AND it’s why, once you get started (usually with Coinbase – hey, whaddya know, another AFFILIATE LINK over there!), it’s never a bad idea to have your holdings spread out between multiple coins with multiple uses. (It could be one reason why the BRED Porftolio has done so well this year: four different coins, each with four different use cases.)

Is THIS the Buying Opportunity YOU Were Waiting For?

It could be. In any event, if you’re looking for a time to get off the sidelines and into the action, this might be that time.

Written by David Van de Walle · Categorized: Binance, Bitcoin, Bitshares, Digibyte, Ethereum, ICO · Tagged: binance, china

Sep 01 2017

Coins on Fire: The September 1 BRED Porfolio Update

coins on fireSo, how was your August?

If you’re one of the four coins in our BRED Portfolio, your August was rather good. When we launched this portfolio in April, we backtracked our hypothetical investment to January 1, 2017. We took four coins – selected not just because they made for an acronym, like FANG – and put $2,500 toward each. Then, the theory goes, we left the investment alone.

It took off.

Here’s where the BRED Portfolio is today, with prices pulled from Poloniex at the stroke of midnight, UTC.

BRED Portfolio Sep 1

Okay, we have the advantage of hindsight here – of course, in April we were able to look back to January and think “wow, these coins would have been great to be in!” Still, though, what this tells us is that there could be something to the “buy and hold” strategy. More on that in a second.

August Performance: For the Record Books

August BRED Portfolio

That’s right, in the month of August, Dash doubled, Bitcoin Cash doubled, and the other three almost doubled.

If you remember the “chaos” leading up to August 1 – BITCOIN HARD FORK SEGWIT BITCOIN CASH OMG – you might have had the following approach:

But, as it turns out, a wait-and-see approach to all of the noise could very well have led to quite the portfolio growth.

IN FACT…

Let’s, just for snicks, rebalance the portfolio, starting anew on August 1, with equal amounts of Ripple, Ethereum, and Dash, plus $2,500 worth of the Bitcoin and Bitcoin Cash combination (accounting for the “spin-off” on August 1).

BRED Rebalanced

So you could have picked up an easy 83.5% bump in your holdings?

What’s Next?

THIS IS NOT INVESTMENT ADVICE, DO YOUR OWN RESEARCH, SEEK ADVICE AND COUNSEL OF TAX AND INVESTMENT PROFESSIONALS…

One way I *could* see this going is that the sideline money will stop sitting on the sideline. Especially if Bitcoin hits the $5,000 milestone – which *could* happen by Labor Day.

I alluded above to there being value in the “buy-and-hold strategy,” and the BRED Portfolio really does show us that. Plus, by holding – or HODLing – coins, you’re better able to weather storms caused by emotion and lots of trading back-and-forth between winners and losers.

Getting Started

If you haven’t gone to Coinbase yet, use our AFFILIATE LINK to get rolling – they’ll give you a $10 bonus once you’ve made a $10 purchase. (We’ll get a bonus, too.)

But if you haven’t gotten any Bitcoins – or Ethereum or Litecoin, the other coins that Coinbase can get you – now might very well be the time. Once you’re in the game, you can just let your coins sit there…and possibly keep adding value in this crazy economy.

In any event, it was quite an August, and it’s been quite a year for the BRED Portfolio.

 

Written by David Van de Walle · Categorized: Bitcoin, BRED, Dash, Ethereum, Ripple

Aug 22 2017

Bitpetite – Profit from Bitcoin Transfers

First up, thanks so much for the support yesterday – our largest traffic day ever, thanks entirely to our breaking the Microhash Scam news. That serves as a reminder that we’re in the Wild Wild West, and you should tread extremely carefully with any and all of these Bitcoin and cryptocurrency-related platforms.

Interestingly, yesterday’s post on Microhash led us to the website of Bitpetite – which is a platform we signed up for a week ago – because, for a brief time, Microhash had its servers redirect to Bitpetite. Later, we’re told the servers redirected to Genesis Mining, and now you get a rather odd message that it’s down.

Bitpetite explainedWe have the perfect segue, we think, to talk about Bitpetite. As is usually the case, we’re going to add several AFFILIATE LINKS here, and we’ll do our best to be as blatant as we can when doing so. Like this: Bitpetite AFFILIATE LINK. So here goes.

The Bitpetite Twist

As we learned on last week’s post – Passive Crypto Income – the main premise with the sites we have tried out so far goes something like this:

  1. You loan them your coins – Bitcoin, mostly
  2. They take those coins and trade them, along with others, in a variety of markets
  3. They make money on the volatility in the market
  4. You get interest that has the opportunity, under certain conditions, to compound.

In exchange for returns that range from really crazy to potentially life-changing, you sacrifice a couple of things:

  1. Your coins – which, let’s face it, once they’re out of your own custody, could conceivably end up anywhere
  2. An understanding of how exactly they do it
  3. Your occasional sanity (one of the sites we talked about last week, AMBIS, (that’s an AFFILIATE LINK) went down for a little while recently; today it seems to be doing something goofy with its interest payments).

At the risk of yet another list, here’s a list of what I think the Bitpetite twist on passive income includes:

  1. More coins: BTC, Ethereum, and Litecoin
  2. Pairing those coins with the USD and allowing you to earn interest in either the coin/token or US dollars
  3. No compounding.

How Do They Do It?

The reason there could be something long-term to this concept is because Bitpetite focuses on money transfers using the coins. Rather than a trading bot that might or might not throw off really impressive returns, Bitpetite simply pools your coins with other coins, acts as a transfer agent, and takes a cut, using the profit from the transaction fees to ensure they can pay you the interest promised.

Having recently moved quite a few BTC back and forth a few places, I know how pesky those fees can be. So this is another arbitrage play and maybe there’s a pretty good chance they can pull it off.

Our Experiment

We first decided to get rolling with Bitpetite (AFFILIATE LINK) on the 16th of August. Here’s what our math told us we’d accomplish:

Bitpetite Excel

And…

Well, we weren’t that far off. More on that in a second, but first, a note about their bizarre interest program.

We find it a little bizarre in two ways: (1) it rotates from high during the weekdays to low on the weekends and (2) it is higher for a six-week loan than for a nine-week loan.

Yeah, that second one is goofy – 4.5% (during the week) for a six-week loan, 3.97% for a nine-week one.

Anyway, here’s a screener of what I have right now:

Other than the fact that I might have actually funded the loan late in the day on the 16th, which accounts for the fact that August 21st was yesterday, the “Amount” plus “Earned Now” columns add up to pretty close to 0.6 LTC. So I’ll count that as a win for my mathing skills.

Multiple Hedges Possible

What I like about this is that you could, in effect, have six different loans outstanding, and hedge against an upturn in the USD – or a downturn in any of the three coins – or a subsequent moonshot of any of the three coins.

That’s right: since I chose the “Litecoin, LTC” option, when my term is done, my interest, which will have been calculated in Litecoin, will be calculated in LTC and paid out in LTC at the end of the six-week term. (That’s where “Earned Total” comes in above – that amount should actually be “What You Will Have Earned.”) I’ll have 1.235 LTC.

Today, that amount equates to $57.34 (using today’s price of $46.43), which would be a return of 168%. Or I could keep it in LTC for a while.

Should I invest in another option, I could go with the Bitcoin, USD pair, and have my BTC converted to dollars at the time of investment, my interest paid in dollars, and then, at the end of the term, have it converted all back to BTC.

Why I Pause

Again, do your own research, we’re not responsible for gains or losses, and get advice from experts on things like taxes.

I pause because the English isn’t great, and they aren’t blatant enough about the switch of interest rates between weekdays and weekends.

BUT, the fact that there’s not a compounding element does, actually, mean that I feel this is a pretty decent basket to put some eggs in.

As with all of these things, we’re conducting an experiment. It may be successful, it may fail. But we’ll keep you updated on what we find out.

Here’s that AFFILIATE LINK one more time if you’d like to check it out.

Written by David Van de Walle · Categorized: Bitcoin, Bitpetite, Ethereum, Litecoin

Aug 21 2017

UPDATE: Microhash is Down and Likely a Scam

Editor’s Note: We’re bringing down our original Microhash post. Why? It’s a scam.

We told you about it over the weekend, and we’ll keep up the information we had at the end of our post…which is this:

A Highly Asterisked Endorsement

As with everything in this crypto space, with Bitcoin, with all of the surrounding currencies, and with all of the surrounding businesses, we strongly encourage you to…

  • Do Your Own Research.
  • Seek Legal advice.
  • Talk to financial advisors.
  • Be sure to have a tax person at the ready.

Thus, our endorsement comes with asterisks:

  • With any and everything on this site – you don’t hold us responsible for gains or losses.
  • This is not to be considered investment advice.
  • Past performance is not indicative of future results.
  • Only invest that which you can afford to lose.

What Happened?

#Crypto Twitter is abuzz with the fact that the Microhash website appears to redirect to Bitpetite – that’s what happened to us – and that all hashing power and mining platforms appear to be lost. In other words…sayonara.

This is not a tremendous surprise: 10% added in BTC to your account each day doesn’t seem sustainable, unless they have some sort of really interesting edge. They don’t appear to have one.

Meanwhile, if it is redirecting to Bitpetite, and if there is a connection between the two sites, that might begin a “run on the bank” at Bitpetite, too. We’ll watch that. We’ve pulled down our affiliate link for Bitpetite from last week.

$20 Worth of Egg On My Face

I mentioned last week that this stuff is an experiment – and I stand by that, as well as the warnings issued above. Note that I’m out twenty bucks of cash, maybe a little more in spare BTC here and there that was pooled and sent over to the Microhash account. I’ll live.

What About the Other Passive Income Platforms?

We’ll point you to our post from last week – Passive Income is still the most popular one we’ve run – and we promise to keep as up to date as possible on the developments with those sites. (We’re keeping the affiliate links active for those sites; rest assured that we will yank down any affiliate links at the first sign of a problem.)

AND we cannot stress this enough:

  • Do Your Own Research
  • Use these sites – and ours – at your own risk
  • Don’t invest more than you can afford to lose
  • Seek professional, legal, and other assistance.

 

Written by David Van de Walle · Categorized: Bitcoin, Microhash, Mining, Passive Income · Tagged: Bitpetite, Genesis, Microhash

Aug 15 2017

“It Looks Bubblish”

Rogers Crypto

This reporter has been a huge fan of Jim Rogers for years.

Don’t know who Jim Rogers is? You can read up on him on Wikipedia, but here are the things we like the most about Jim:

  • He’s a semi-legendary contrarian – and he has been known to move his entire portfolio to things like precious metals or agriculture stocks when he thinks the timing is right;
  • He can sometimes seem to see around blind corners – he has a knack for calling bubbles before they become bubbles;
  • He and his wife moved to Singapore to (1) get out of the US and (2) expose his young children to a different culture and a different language.

In this interview we found on YouTube, conducted by the precious metals site Kitco, Jim talks about a wide variety of subjects.

I expected the typical “the crash is coming,” followed by “buy gold,” followed by “start your own garden, start prepping,” but I was sorta surprised to hear Bitcoin and cryptocurrencies come up. And I was even more surprised – at least at first – at what Jim had to say about the crypto craze.

How Much Does He Own?

Look Out BelowGrand total of zero.

Jim Rogers, legendary investor, owns zero Bitcoin. “It looks bubblish, when you see the kind of price action we’ve had in Bitcoin.”

Rogers went on to say he’s not sure which of the ICOs or coins or cryptocurrencies will come out on top “if any come out on top.” He sounded, in a word, skeptical.

But This Shouldn’t Surprise You

Earlier in the video, Jim said something about “invest in what you understand.” And he sees trouble in the global marcroeconomic picture right around the corner. He would of course head in the direction of gold – which he holds, but isn’t buying right now. And into the US dollar, too.

However, he doesn’t understand crypto, so you could see why he’s sitting this one out.

Should You Sit This One Out?

Of course, this being a site that talks about Bitcoin, the blockchain, and cryptocurrencies, you can guess what our answer is.

It has been said – here and elsewhere – that this whole crypto industry is eerily similar to the dot-com boom of the late 90s (which, of course, leads to the potential for a bubble to pop). Fine, we get it…and we can understand why you’d think that the flight to safety and the hedge should include gold, or really safe bonds.

The difference here, though, is that we’re looking at an entirely new industry that has been created out of thin air – but the ramifications for global society and economics are huge. Orders of magnitude larger than you might think huge.

Two Pieces of Advice:

Piece one is to watch Jim’s video; it will take you six minutes.

Piece two is to watch MY video. That takes just three – and there I encourage you to look around for answers to your questions.

And, if you want to get started, the absolute first step is to actually get some of the cryptocurrencies we talk about into your virtual hands. Best place to start is Coinbase, and if you use our link, they’ll give you a reward of $10 worth of Bitcoin with a qualifying purchase. (We also get a bonus with your purchase.)

Written by David Van de Walle · Categorized: Bitcoin, DYOR · Tagged: jim rogers

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