Managing director and creator of
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All content on this site is copyrighted to myself Robert Hitt from this date forward. I intend to enforce that copyright. If someone wants to quote me, please ask my permission using the above email address.
FORKS: Soft vs. Hard
This could cause a stir
Could it be true?
"if cryptocurrency enthusiasts are correct that this technology could become a better way of carrying out even routine transactions, the Fed and its counterparts are the institutions that have the most to lose"
Still much to learn
I'm still "eating the elephant" one bite at
Shifting Waters & Shaky
Control the money
Quote: "Only keep money in fiat that you can
afford to lose."
A Clever Projection in Crypto Valley
I love the determined, silent and subtle creatives in
In the BOA crosshairs
Spotlight on NEO
A well done review/breakdown of how it works: What is NEO?
Keeping up with:
Jeff Berwick - the Dollar Vigilante:
The Old House Rule...
"the Craigslist of
Personally, I've had some amazing success stories with
Craigslist, both as a giver and a receiver. Fingers crossed, this
comparison is true: https://www.coindesk.com/cryptos-craigslist-localbitcoins-making-millions-bitcoin-needed/
An explanation of what a "sharing economy" means...
Wonder what his astro was like?
Regarding the PROOFs
The concepts of proof of work (PoW) and proof of stake (PoS) are referred to as time-stamping schemes (further explained here and here). These are two of the original operating algorithms for crypto coins. The blockchains use these and various other time-stamping schemes to serialize changes that track the credits and debits. Altcoin platform growth continues to inspire innovative coders to come up with ever-expanding alternatives. Here are two recently emerging proof methods that folks seem excited about:
Not being a coder myself, this stuff kind of makes my brain hurt but, I am confident that one day I might get it.
Spotlight on Coinbase
And.... another acronym to learn
Tiptoe into the cryptos by the
The progenitors of centralized banking have now made
their open public debut into cryptos this week, just as many coins are
hitting the notorious death cross.
Practicing & Patience
Seeing the Forest for the Trees
Still need a Tax App?
Still Trusting Bankers?
Emerging Infrastructure (continued...)
A Skeptics Confirmation
There was a question in my mind about the validity of what I began using daily as a go to site for my crypto coin market pricing reference, Coin Market Cap. It's format seemed something of a miracle to me - all this great info. in one place with links to most of what an investor would need to understand the big picture if desired. Today, I discovered this bit of insight.
The other market price resource that I've relied daily on is the app, Blockfolio which I've appreciated greatly for it's ability to allow me to enter my coin/token collection into it to easily track individual gains and losses as well as the relative percentage of my holdings. My entry point in late Dec. 2017 was at a high and since then my holdings value has dropped by almost two thirds. Fortunately, I am able to Hold On for Dear Life (HODL) through this period of apparent manipulation we're experiencing. My initial (now fading) delusion was that it was not possible for cryptos to be corruptly influenced. Isn't that one of the claimed to be great powers of decentralized platforms?
Thankfully, deep down, instinct is driving an intention to muddle through and stay alert to the ever changing game board that cryptos are operating on. It's not for the faint of heart.
8% of US POP now own cryptos
Creative Cryptos: Sketch Fest
Art fans and artists involved in the crypto space now have a new beta-platform to share their unique creations or buy from others.
What is a dapp?
1562 Bloody Coins on CMC
Another Welcome Addition to the
Rafting in the crypto waves with
eyes to the shore
Crypto-rafting: a recreational-finance activity which uses an inflated desire to navigate in cryptocurrencies. This is being accomplished worldwide on varying degrees of “rough waters” where most rafters aren’t very familiar with the terrain yet are enjoying, or can look forward to, an adventurous, white-knuckled ride with a very mysterious ending. This emerging market sport promises a unique ride of a lifetime. Dealing with risk and the need for teamwork is a big part of the experience.
As a market sport, this activity has become popular since 2009, evolving from individuals who bravely engaged unfamiliar waters in order to discover their individual financial sovereignty. Still, rafting in today’s crypto currents is certainly considered an extreme sport by many (and can even be fatal - to one’s portfolio). Many brave rafters continue to discover and ride on crypto-currents that are now maybe not so extreme or foreign but, instead, are actually providing superior value and benefits to their life experience.
Safety boats are being made so
rafters can feel safer UPCOMING
CRYPTO INDEX FUND
Many who sell or rent crypto-rafts are CRESTING https://www.zerohedge.com/news/2018-03-06/worlds-largest-crypto-exchanges-are-raking-3m-day
Here come the bureau(fat)crats to
try & take control
How much longer will banks exist?
Patents for American Innovation?
Behind the scenes there have been many who have worked so hard for a VERY long time to "manage" the world's resources towards innovation, yet...
corruption in the U.S. Patent Office shows it has become nothing but a
rubber stamp for corporatists, and not a protector of American
Paypal's latest patent: https://news.bitcoin.com/paypal-files-patent-expedited-cryptocurrency-transaction-system/
provides enough to satisfy every man's needs,
ANTIDOTES to Oceania:
check this out:
How many people have ever truly considered our right to hold any currency of our choosing without being gouged by the (f'n!) middle MEN? Wouldn't we all like the freedom to operate and transact within any geographical/financial/resource market scope of our choosing without all of the "brokers" <because that's what they make you>, hosers and FEES? Why have we put up with these pirate thieves this long?!!
This newbie product launch above is a great example of what we'll continue to see going forward. What appear to be phenomenal ideal dream schemes, too good to be true-ish, that are being birthed with exponential frequency. It's exciting yet, we must proceed with inquiry, involvement and discretion, AT MINIMUM. If you still haven't pulled the trigger and invested in crypto, based on my experience, you may regret NOT doing it REALLY soon.
And something else to
KEWL: A Hack Proof Smartphone/Wallet
Q&A's to research before making
a coin purchase
This week I listened to the Weiss Ratings cryptocurrency briefing conference call to catch their perspective on the latest state of affairs. There were some valuable points raised. Their was a reminder of how this revolution is NOT all only about currency so much as it is about how we all reach consensus: "At the core of this technology is: How do we all agree?" Another key point, this platform presents an opportunity for the individual to hold unique and exclusive ownership over their own information and the way that it's distributed. Profound potentials that should be taken as important considerations to be embraced by us all over time. It's clear, we must aggressively work to support the restoration of our individual sovereignty that has been nefariously robbed by derelicts.
Their crypto expert suggested these questions to ask prior to buying into a coin:
Unbeknownst to me, we are now into 3rd generation coins. BTC was 1st gen. ETH was in the the 2nd gen. Theoretically, these 3rd generation coins can decrease price volatility due to their increased speed of transactions and decreased clogging of the networks by reducing reliance on third parties for the processing of transactions.
Need a job?
coins and tokens are different
Music to my ears
Expanding Exchange-free Coin
The driving motivator for myself, and for many cryptocurrency investors, is to personally take back the reigns of our individual economic power from those who've for sooooo long deceived our ancestors and, still today, our families and friends while despicably squandering the earth's resources relentlessly for selfish gain (and they're showing NO signs of stopping). As I see it, this effort to right the wrongs of these psychopaths is the most worthy task that stands before us. To be able to direct ourselves collectively towards the changes we seek takes vision, collaboration, persistence and PATIENCE.
Financial trading for personal benefit is an understandable desire. However, I am genuinely inspired to be part of this crypto-investment group because of its potential to completely break through the old barriers of control that have hurt so much of our collective natural beauty and balance. This is the "why" that I came to embrace crypto-currencies after nearly a decade of wrestling with their at-times questionable purpose of existence.
Renewable energies have proven their sustainability
value. When will we be able to cease and desist from participating in
the establishment's delivery systems? Might this be a step in the right
Personally, I have no investment in any of these platforms (nor have I vetted them entirely - I just read the articles) but, again, they all speak to me of the "why" that I am choosing to embrace this new still-mysterious, ever-changing trend that surrounds us. My intention is to share more of these visionary's stories going forward. If you know of any similar humane-oriented efforts, please send them along.
Just so you KNOW
You can tokenize yourself now, should you choose to.
If you're a HODLer, like me, then this ongoing downward trend in cryptocurrency prices can be disheartening. I've been using a really helpful app, Blockfolio, which allows entering all of your coin/token holdings (with quantities and purchase prices) and it keeps track of your gains and losses. It also summarizes the relative percentages of your total portfolio. I love this apps "all-in-one-place" feature to capture my very spread out cryptos that are in various wallets with some STILL (regrettably) on exchanges. This app is a wonderful aggregator despite it being the go-to source that continues to confirm my significant losses to date. *more app recommendations are listed to the left, below.
I also caution anyone considering using the exchange HitBTC to seriously do their homework. Their fees are ABSURD and handled differently than other exchanges I've used. They actually charge flat coin fees for many altcoins (e.g. 23 ZRX to withdraw your OX Protocol; 123 IPL to withdraw your InsurePAL). Since I took small positions prior to knowing this (the only way to find these fees is to open an account & check each coin on your account page), I can't withdraw these and put them in a wallet because I don't even have enough coins to pay the withdrawal fee!
Upgrades & improvements abound
And another helpful tool:
Tax-Free Ways to
...with thanks to my
This one a little closer to home. If your banking with Scotia or USAA banks and intend to get into the crypto market, this is a particular must read.
The latest exchange
of an old school candle lover
You know, the kind you
ignite with a lighter...
First, there's the typical requirement of conversion from fiat to cryptocurrency in order to even buy into other "alt" coins that must be completed. Second, after getting registered with an exchange, your choice of cryptocurrency upon entry only allows for buying coins paired to your coin. The term “trading pairs” describes a trade between one type of cryptocurrency and another (e,g. the trading pair ETH/BTC). With this pair you can buy Ethereum with Bitcoin, or sell ETH for BTC. What was almost exclusively offered previously, a pairing only to BTC, is now opening up to additional options, mostly with ETH & USDT pairs being added recently. Certainly, expectations are that the pairing options will expand and multiply as we move forward.
Third, the trading values are not listed in our familiar fiat USD so, the often eight numbers behind the decimal point for a crypto amount can be totally confusing as to how much the transaction actually is worth. Using a conversion calculator would seem to help but, with the volatile movement going on each minute, the values of each currency in the pair can actually change quite quickly in the short time that it takes to initiate your transaction.
Fourth, depending on the exchange, what is referred to as the spread <the difference between the the prices quoted which are the current buy and sell prices, either by a single market order (for an immediate buy/sell) or, in a limit order for a particular bid/ask price that you want for the currency pair> is proving to vary very widely depending on your exchange. Again, this is worth taking the time to get one's head around - a process I am still trying to get a handle on. I will be spending some time looking into Shapeshift which claims to allow trading one crypto for another within their application.
Fifth, these exchanges are wildly different in their fees and withdrawal criteria. Make yourself familiar with all this BEFORE you transfer funds to any of them. I've discovered that since I've only taken small positions in quite a few coins that there are minimums and limits on what can be withdrawn that is proving to be very frustrating. I tried to move 10 crypto-coins to a private wallet (off of the exchange) and the exchange said it requires a fee of 23 of that particular coin in order to complete the transaction. That there sounds like an unfortunate gouge that I potentially could have avoided had I spent more time researching BUT, to be honest, not everything is spelled out in advance for much of this new asset class. Transparency is limited. So, until I can finagle a solution, I'm feeling kind of screwed with my coins being stuck on that exchange for now which is not ideal.
I've admittedly jumped into this all with a fat-headed willingness to procure some coins knowing that there's all kinds of unknowns and risks. It's all new, ever evolving. Changes are occurring so exponentially in so many aspects that it's hard to keep up and the ongoing market volatility has really been roller-coastery.
*1526 crypto-coins now listed on CMCap
Keeping up with the
So, have you seen the latest cover of Forbes magazine? It's very telling. It appears the long reluctance-phase of the old money tools to cover the new asset class is finally coming to an end. Yet, all week the major banks have been joining an expanding list of creditors that are banning the purchase of cryptos via credit cards now. Even the SEC has publicly addressed this cryptocurrency market force to be reckoned with... albeit admitting it's a bit slippery for them to just jump in and easily generate their big bro control regs. And, not surprisingly, the "goldman" is still trying to spread doubt.
Anyone can see that there are a ton of employment opportunities in the sector. Exchanges continue to try to staff their operations to keep up with the new entrants to the market. Promising start-ups with paradigm changing initiatives need people around the globe to get on board to help them manifest their visions. It's continues to be a time for coders, tech heads and digital/virtual innovators to rejoice.
The bloodbath in the crypto's market cap that we've witnessed this past week has offered a truly tempting entry point to those eager investors who have been on the sidelines. Others have decided that they just can't stomach the volatility. After the concurrent BIG drop in most of the global markets this week, it seems the millenial's are going to continue going all in and loooong with cryptos. The last few days in the Telegram space has been a truly entertaining place to hang out observing their hysterical reactions.
cryptocoins now listed on CoinMarketCap.com
Where to buy coins? What coins to buy? It's a big and growing question. The investment flooding into this market continues to operate in large waves and a massive entry wave is coming this year. I have continued to scour the daily offerings of the cryptowise wo/men while simultaneously considering various available coins. (e.g. http://cryptoiq.co)
My favorite exchange (today) is Binance. It has easily allowed access to purchase most of the coins that I've become interested in HODLing. Fees are quite minimal BUT, it is NOT US based. The whole "exchange" newness continues to be risky business all around the globe it seems. These two have alot of the other coins experts are saying to watch: www.livecoin.net + https://hitbtc.com/. Day trading is possible for the super daring using a significant range of pairings that expands daily.
the heck is a blockchain?
Still trying to understand some of the emerging tech code-related concepts and terms myself. Here's an interesting perspective on blockchain from last weeks BTC Miami convention + an older players tale of her experience.
There is also a company called Blockchain that offers significant advice on wallet safety tips. https://blog.blockchain.com/category/tutorials-and-guides
Weekly crypto market
happenings <by the day
Experience has proven to me that at times, awareness can be a double edged sword. When we learn (then know) something isn't right, awareness will often guide us towards alternatives that might be genuinely uncomfortable, leading us to entertain new approaches and perspectives that we have no familiarity with. Often it leaves us feeling forced to make decisions that will lead in new directions where we can't possibly know the outcomes.
Arriving at the new game table that is comprised of virtual, digital, electronic, blockchain, mined/un-mined crypto assets that are growing at exponential rates is my latest example. Very few folks are up to speed. No one that I know personally. The magnitude of this financial paradigm shift is quite daunting when one wants to understand it all ASAP and get involved so as to hit the ground running.
Circumstances required that I enter this game with fiat USDs and then wait over a week for it's conversion to BTC (which can then be used to convert to other coins), all the while, at the same time, trying to understand the lingo, find the right platform (incl. wallets, exchanges, +) in order to get more of those coins! It's been an incredibly bumpy yet, expanding situation just in the 5 weeks since I've gotten into it. In that time though, I managed to accomplish my initial goals of entry and now own 17 different coins. I had to use more than one exchange (+ countless wallets) to make this happen and it took a lot of patience.
It's also very exciting in that everyday there are new discoveries. Check out some of the APPS I've added to the left. Also, please beware, it turns out that Google Play store is not doing it's due diligence to vet the app makers. By visiting the Stellar lumens (xlm) site and reading the fine print, blog, FAQ's, +, I realized that I had downloaded a fake Stellar wallet app on there (StarPay). Thankfully, I hadn't put anything into it since XLM is way up and I'd sure hate to have to share a story of lost coins here!
So much turmoil in the world’s governments over something that many claim is not even "real". Scared fiat-empire operators are truly stepping it up in order to “protect us” from the potential threat that LEGITIMATE peer-to-peer cryptocurrencies brings to their current global debt-based central banking system. The whole world is reacting… some well; others, not so much. A few glimpses: CAMBODIA, CANADA, CHINA, FRANCE & GERMANY, INDIA, KOREA, RUSSIA, SWITZERLAND, USA, VENEZUELA
And then there are the many who met this week in Miami who continue to prepare for the crypto ecosystem that is definitely not going away. https://news.bitcoin.com/lots-of-optimism-at-the-miami-bitcoin-conference-this-week/
*plus some added news resource links in the left column
A Supershot of Big Picture Crypto +
Clif High interview - Jan. 2018
part 2 https://youtu.be/tBT0Vu8sVro
What's the best way to eat an
The above advice is well heeded for cryptocurrency newbies, like me. I've been getting lost in the nitty-gritty of all things related to wallets and exchanges. It's helped to consciously switch back and forth from this micro-perspective to a more macro-perspective of how many people around the globe are and have been embracing this fully. Ain't no stopping it!
Last night, my friend sent a small quantity of Litecoin (LTC) to my latest new Exodus desktop wallet. It seemed strange that this wallet download had never asked for my email or a password, nothing. The LTC took about an hour to arrive <*theory being floated: smaller quantities (amount was = $2.42) have less priority on the blockchain OR, maybe it's not that at all>. It wasn't until I went to access the LTC in the wallet that the wallet app asked for my email address and to create a password. Then, I had to go through (and retain for records) a set of twelve words that will be used for any necessary recovery issues.
One of the highest rated wallets long time running is the Mycelium HD wallet. With over a dozen coin options there, I opened one of those today, too, very easily. They required I do a "master seed backup" where I got a 12 word recovery set and opted to set a pin. This wallet has no cryptocurrency in it yet, I was made to go through the security route first. Go figure. From this wallet you can print paper wallets that hold the private keys to your assets - it's ESSENTIAL to save these long number/letter private keys or it's lost. And don't ever try to send a one type of coin to another directly, it will also be lost.
My attempts to sell some LTC from one Coinbase wallet into another Coinbase wallet for Bitcoin (BTC) has met with no luck so far. Having set up my Coinbase account via their mobile app which has a super simple UI <user interface> that shows all of your wallets values, I tried out their website access for the first time to see if the sell/transfer might work from there. They did the usual and texted a code for me to enter in order to VERIFY ID me. The dashboard opened with a lot of nice features. I was surprised to learn they allow the use of Paypal to SELL your cryptos <they'll take a 2.5% fee. When I attempted to sell the LTC for BTC (a transfer between two wallets within my Coinbase account), it again asked me to VERIFY ID. Two tries later - still no luck, I didn't get to do that transfer. All day, their site actually had a bright yellow (apologetic) notification that they're still working on completing things from December so, crypto-patience IS a virtue.
Bittrex also wasn't taking new accounts due to overload. Three weeks later, Gemini did respond to my new account registration with an email to log into their site to verify me. Went there and learned that they just need me to wire some money to the account in order to be verified (tff). Not expecting that I will since it appears they only offer BTC & Ethereum (ETH) wallets and, as you now know, I really DON'T need anymore wallets!
At the corner of CONFORM and OR BE
CAST OUT Drives
Having been born in the summer of love in 1967, my default is towards peace and love. My natal astro chart clearly indicates the themes of this inherent nature as to why I've always leaned towards us all getting along merrily on this lovely planet. You know, sharing and caring… having ever greater opportunities for living out our unique ambitions. Well, the general populaces voracious adoption of cryptocurrencies is indeed carrying that reality to a whole new level right before our very eyes. If you do nothing else regarding cryptocurrencies - keep your eye on reliable cryptocurrency news daily. It's a fascinating global phenomenon to be watching right now! I really am enjoying the Crypto News app.
As the proud owner of numerous new wallets, I find this part takes some getting used to, for sure. It's just part of the deal when engaging in cryptocurrency transactions, by necessity, which require yielding many types of wallets (online, desktop, mobile, portable+). I took very small positions in all four coins that Coinbase offers and they gave me a wallet for each one. The lag time for those transactions to get from my usd bank to show up in Coinbase was 8-9 days. These wallets are in the possession of their exchange and I need to get my cryptos out of there asap since exchanges are known to still be vulnerable places to keep an asset. Currently, many exchanges are so completely overwhelmed by the demand that they have suspended new account registrations. I haven't heard back from Gemini in 3 weeks since I signed up for an account. It also seems to be important to be clear and comfortable where an exchange is based in order to consider international ramifications. Bittrex, Coinbase and Poloniex indicate they're US based.
You can open a btc/usd wallet at the crypto shop at purse.io with just an email and receive a personal btc & usd wallet address to buy or sell stuff on Purse, a unique eBay-like Amazon-connected environment with already over 10 million transactions, they claim. Purse also gives the option of opening a desktop wallet direct from their page to hold your asset under your personal care plus, they provide the ability to make direct deposits from Coinbase and Shapeshift. So, my days of selling on eBay are over as I'll be selling as "theArchitect" on there asap. If you decide to participate there, you can use my Purse.io referral # https://purse.io/?_r=IwHxTS to get $5 in free BTC.
Coulda… Woulda… Shoulda…
In 2009, shortly after walking away
from a twenty year career working in the casino/luxury resort
construction industry, I pondered buying 100 bitcoin for
around $100. Recommendations to get onboard the crypto-train were coming
in from lots of folks online who I believed to be extremely informed and
their messages were resonating with my newly emerging worldview. By that
point, I had fully accepted the truth about our global fiat currency
systems – they’re debt-based, centralized and completely rigged to
benefit the few to the detriment of the greater part of the global
population. I wanted out so badly that I made every attempt to remove
myself from the established systems as best I could since, genuinely, I
no longer wanted to support any of it.
Back then, however, and until quite
recently, cryptocurrency as a concept was still too foreign for my brain
to fully digest. One of my paranoia's was, how could I even trust that
the internet would not be taken down by TPTB? Since then, I’ve
realized the unlikeliness of such an event happening. The path that
I’ve pursued up to this point has been as an intense investigator into
the pioneers, places and principles associated with socially
responsible, sustainable means and methods. The initial part of my
journey exposed me to more earth-friendly lifestyles where I spent years
living in intentional communities and eco-villages around the world
learning about permaculture, biodynamic agriculture, alternative
currency systems, off-grid sustainable construction,
aquaponics/hydroponics, and as many other alternate approaches I could
find to carry on a purposeful life without wearing what felt like the
shackles of the corporate/government/financial conglomerates.
And now, here I am, Robert Hitt’s
new assistant, who will be delivering commentary on my research and
engagement as a newbie who has just entered the cryptocurrency economy
last month (Dec. 2017). 2017 was officially the year that cryptocurrency
became a new asset class. It’s proving to be the most exciting and
unique landscape that I’ve discovered in a long time! Having been
referred to as the “resource queen” in my former life, I have agreed
to bring my cultivated hound dog research skills at aggregating complex
fields of relevant information to this platform to share with you all.
The powerful motivation to get up to speed on the vast complexity of
this disruptively innovative market has driven me to uncover many useful
resources that I’ll be sharing in the left column of this page. Since
I genuinely have no geek gene, you can be sure I will be using an
understandable vernacular to deliver the latest cutting-edge
cryptocurrency information that I can find, as well as, some of the
accounts of my experiences at this early stage of getting into the
There are many clear leaders in this
field that I will be referencing. Today, I’d like to share a quote
from Jeff Berwick, aka the Dollar Vigilante, that expresses the
enthusiasm I feel for where we are heading as we begin the new year:
”The world is (now) innovating on top of the first decentralized consensus building technology, the blockchain. Everything that has occurred since the inception of bitcoin has shocked central planners because for the first time in history they are lost; they no longer hold power. We now vote with our money. That’s true democracy.
We choose what we find
best as different technologies compete for our money.
For the first time in history we are in a true free market. The true free market connects you to everybody and for this reason alone the market shouldn’t surprise us for feeling "crazy." Volatility is a sign of your connection to a market that is alive. Radical innovation is a sign of a market that is in its infancy still discovering itself.
We are entering a brand new world as we enter into 2018.”