*Video Recap Below
Hey what’s up guys. Just a little quick hitter video today so I can show you the technical set-up I’m looking at. However, after my last call you may not be interested! Briefly commenting on the last horrible technical call, I will say that I got burned by one of the best known rules in trading, which is “the trend is your friend”. I was so caught up in the hype coming from Neo-Devcon, and the potential for a Technical Breakout to the upside, that I overlooked the Bitcoin/Overall Market correlation to NEO. I remember even thinking NEO was attempting to decouple, but that’s not something any crypto is ready for just yet, and down we went.
Now when considering the Overall Market Conditions, not to mention the ridiculously bullish flip in media sentiment thanks to our new Crypto friends in the United States SEC Commission, we must give even more probability for a potential NEO breakout. NEO, once again is setting up, and this time the complementary Fundamentals may be the GAS this rocket needs.
Since the last time we’ve talked, besides having Bitcoin show great strength, we’ve had an Ontology airdrop announced, an overwhelming and collective (Post Devcon) media realization of the inevitability of NEO’s Smart Economy drop a supernova upon the Cryptoverse. Crypto Bud with his 65 K followers, even just made a video pronouncing NEO the new king of crypto after seeing what transpired at Neo-Devcon with the community, and when considering Da’s ambitious scaling goals to 100K TPS. This of course, blends well with the positive larger media coverage, as NEO is finding it’s way into article after article. The hypeis culimanting over the results, NOT HYPE, it's refreshimg and why NEO is so unlike anything the Blockchain World has seen in terms of delivering the goods. When Da speaks of the roadmap, book it as done. The NEO web spans methodically, and with purpose.
Now with all that in mind, maybe we can give even more validity to the technical set-up. As usual NEO finds itself in a Bullish Wedge Reversal setup, and this pattern needs a push to accelerate the breakout. Coincidently, I believe much of the fundamental items discussed above are not really factored into the Market Cap. Consider that almost everything mentioned came after the earlier push to 190$. Especially, as I like to remind, when considering other projects that have nothing tangible, at least when compared to NEO. Potential is and should be a fading indicator and catalyst in 2018, as Potential is up and down the CoinMarket Cap Top 100 list, and there is just not enough room for them all to succeed. Conversely, an Emerging Smart Economy powered by China’s largest Blockchain certain deserves to be in the Top 5 at this point. MINIMUM. And With the NEO media blitz heating up around it’s expanding scope, I think a breakout to ATH’s are imminent and this chart provides the perfect setup for launch.
It's time to do a video about one of my most well branded yet most mysterious Crypto's, and that's Loopring. I'll admit I was buying Loopring in the beginning with just a general understanding of what the protocol even was. It was a FOMO purchase made after realizing who made up the team behind it. Those of you that have watched my videos before understand that i'm a team first investor. Who is my captain? Who is my QB, and why will they all but guarantee my investment victory? A glance at vast amounts of brain juice that power Loopring's future interests is a FOMG moment. Buy now. Figure it all at later! ... So WTF is it ? ? And who is this FOMO causing team? ?
Loopring will provide the cryptocommunity an essential service. The service will be so useful that once it's implemented it will be the new normal, and never again will crypto currency holders want to operate without it. This service will provides traders, participants, and institutions with a decentralized, automated trade execution system that intelligently implements their trades across the world’s crypto exchanges, shielding them from counterparty risk and reducing their trading costs. So when the LOOP is up and running your crypto, including the coins you are ready to sell, will NEVER be out of your possession until you have received your payment. This is because of another service provided which is that Loopring intermediates trust between blockchains and exchanges, allowing trading members to retain custody of their funds.
Let's look at the OLD WAY that we are STILL using =(
So in today's cryptoverse there is a constant outflow of coins from an active investors wallet. Each and every occurrence is an opportunity for issues to arise that may result in the loss of coins. This loss of coins has been a very real experience for many crypto traders and the stories are prevalent enough that it likely causes some of the largest coin hodlers in the world to avoid the game altogether. Opting instead to just HODL in a hardware or paper wallet. Think about it like this . . What would you do if you had millions of dollars of crypto? Would you be trusting the exchanges to keep your coins safe, in a crypto world where Mt.GOX is still a fresh reminder of what can happen? Probably NOT! . . and what is the end result of this necessary caution? . . A less liquid crypto trading market!
Enter LOOPRING = A NEW WAY FORWARD
So now in a post LOOPRING world a whale is sitting on way to much Ethereum (and it's getting more and more obvious that NEO is the ONE) This WHALE then gives permission to Loopring to sell 1 Million Dollars worth of Ethereum and acquire 1 Million Dollars worth of NEO). Loopring then broadcasts the order to the exchanges/orderbooks and they systematically execute the order. (There is an ingenious way Loopring has determined the pace of order execution but for brevity sake we will leave that for future videos) Once the order has been executed, it will be broadcast to the RING-MINERs. The Ring-Miners then submit the MATCHED orders to the LOOPRING SMART CONTRACT. The Loopring Smart Contract then sends a reward for their service to the ring-miners who go back to mining the loop for other transactions to execute, and at the same time the Loopring Smart Contract makes the transfer of coins to you. The beauty of the process, and why I'm HODLING LRC tokens, is that during this order execution your coins have never left your wallet!!
All parties that participate in a Loopring transaction share in the benefits that LOOPRING provides!!
$47,297,730 is the Current Market Cap!
That means there are about 100 cryptocurrencies with a higher market cap then LRC. 100!
Loopring passed the Howey Test
[–]Encephalomagna[S] 7 points 16 hours ago By passing the Howey Test, Loopring is not classed as a security in the United States. This means that getting listed on other exchanges, such as Poloniex will be much easier!
[–]blockchainery 2 points 4 hours ago Passing the Howey Test is very big news - I don't think the market has appreciated how major this is. Or more likely, this news has flown under the radar for now. Will be holding on to my LRC :
Burn BNB Burn
FROM THE BINANCE WHITEPAPER
Repurchasing plan Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining
MY COMMENT: Listen, we can debate the phrase "buyback" all day long, however the reality is that 999K BNB coins were in fact BURNED from the overall 200M supply. So a "Million" coins are in fact gone. These "BURNED" coins were collected from trading fees paid into the Binance platform, along with other BNB coins that will be used as Quarterly Revenue. So, from this 7 Million Quarterly Revenue Earnings, 1.5 Million dollars have in fact been BURNED. Please consider that if these coins were not BURNED, then they would be utilized by Binance to increase Binance's own financial well being. As a BNB coin holder, I am satisfied with the method utilized by CZ and his team, however if I were a swing trader, or day trader, I would not be satisfied, as I would have utilized the inevitable Market Run-up initiated by the BUYBACK to sell my coins into the market. I would then rinse and repeat this strategy every Quarter. This "False" Market Run Up would in fact be a day trader/swing trader Bonanza and NEVER benefit the long term holders like me. Is this something that CZ and the founders who hold the most BNB coins have considered when determining the method to BURN coins?
As this Quarterly Burn is better understood, I believe the Markets will realize you have a rapidly expanding company, which is represented by a coin (BNB), that has a diminishing supply. Remember CZ's own words ""the Binance coin will reflect the value of everything we do." So forward looking investors, and probably not swing traders, should be accumulating BNB coins for an expansion that is currently underway, yet in the very early stages. Please see my original video to better understand just how many uses, BESIDES the trading fee advantage, there are for the BNB coin moving forward, such as the GAS of the FUTURE decentralized network powered by Binance, as well as the only payment accepted for any of Binance's sister companies products or services.
In other words please consider a future where the Binance coin supply has been BURNED down to it's target supply of 100 Million coins. When this future arrives and 100 Million coins is the total supply, will the expansion of the Binance protocol be in it's final stages? Will BNB coins then power a decentralized exchange as GAS? Will the sister companies of Binance, like Bijie Tech, that only accept BNB coins as payment be successful and expanding as well? These are forward looking statements, I'll admit, but markets are in fact forward looking! Finally consider who has the most to gain by the rise of the BNB coin price? Who are the largest holders ;)
An early look at the expansion of Binance and it's BNB coin is Binance Labs. When looking at the purpose and capabilities that will encompass Binance Labs please consider that the BNB coin will be used as the currency used to participate!! DEMAND!
BNB Coin Chart
When looking at the chart, please consider that the stated 200 MIllion supply is not correct since 1 Million has recently been burned. Also consider that the ATH is about 3$ back on August 21st. Sure a lot of that was technical FOMO, but this FOMO can return at any moment. We cannot be certain when/if that moment will return, but we can read the tea leaves while listening to the words of CZ on 10/18: "We have a lot of exciting things in the pipeline .... we are going to release these very quickly, we are going to continue to add more coins, and we are going to continue to grow the platform" STRONG BUY
I hope you guys dont mind the new format. That 'Writer' app I was using just looked like a giant wall of text on youtube, and was difficult for me to follow when jumping from screen to screen. After watching a few minutes of my last video and ummmmm ummmmm ahhhh ummmm I knew I needed to try something new. For this blog format I simply 'rebooted' an old domain that I will now use for my NEO MOONSHOT videos. Besides benefiting the flow of my videos, it will allow me to more easily share my research and notes by simply linking to the blog article i'm using for the video. They will also be time stamped and archived in a way to that will make them accessible for future recaps, road maps, and chart work. The blog posts will also have a comments section for community feedback. So please let me know any other suggestions that the NEO community would like added to my videos? Questions for NEO leadership? ...let me know.
Podcast is also live on Itunes for those who prefer to watch or listen offline. *Same exact show.
Ledger and Neon Wallet building from source by coranos2
"We got the Ledger Nano S working with the neon-wallet last night. Since it’s a major change, we still want to test it for a few days before releasing it. So, some of you are building it already from source and moving NEO and GAS into the wallet. Please be careful. Don’t move more than a few NEO until CoZ releases an official version. We are really close to having a smooth handover, and hardware wallets are a big advantage. Don’t let the excitement get to your head."
(This is EXACTLY what this community needs right now!! How much money is on the sidelines because of the wallet issues? Not everyone is comfortable keeping their coins on exchanges, and when a "trusted" hardware wallet comes on line that will allow for more secure HODLing of NEO and GAS I anticipate more whales speculating.
(Here is a great refresher post by Mellowde on Reddit for NEO longs, and also a nice summary for those considering investing in the future. Sometimes when your invested long term into a stock or crypto it can feel stale as it consolidates thru time. With NEO the BIG difference is that you get paid a dividend while the blockchain evolves into a Smart Economy! Win win where patience is trully rewarded! . .That brings me back to the wallet issue. How many crypto millionaires (bitcoin millionaires will diversify into NEO/GAS when it's on the Ledger?)
[–]42337d Also great leadership in Da Hongfei, and fantastic community (CoZ)
[–]blocknate 9) Neo doesn't fork, which leads to certainty and greater reliability. Certainty is vital for adoption by larger financial institutions
[–]tenka3 8) Great name (branding) I think this is pretty important for adoption.
[–]strikeanerve This isn't mentioned nearly enough. The branding of NEO is phenomenal. A very tight concept.The ticker is its actual name, which keeps things simple and recognizable. Distinctive visuals including that irresistible lime green color. How it is pegged as the Ethereum of China gives people an instant placeholder for it in their mind.Effective branding can absolutely ease awareness and adoption
Interesting NEO Chart 10/28