Crypto Trading

Back at home, I managed to exit half my DAO stake at 81% of ETH price. There was a crazy spike a few days ago so I took advantage of it. If a soft form is successful (apparently it wont be, something about a ddos attack) then around 75% ish will be recoverable. The only way 100% will be available will be with a hard fork, and that, in my opinion is a terrible idea for ETH, so anything above 75% is good for me. Hoping to properly scale out of the rest if there are anymore spikes.

Other than than, I put a small allocation into plutus recently. No idea how it will work out, but I like the idea. It was one of my top 3 ideas a few months back but I scaled back.

Theres one called Alexandria coming up at some point. Headed by the musician Imogen Heap, some kind of blockchain spotify. Looks great on the surface, but really needs artists to flock to it and promote it - in my opinion the people who create music will have less interest than the average person in blockchains. So it may well be a dud, but we'll see.

I'll check out urbit.

Thanks
 
....purchased a few STEEM. checking out STEEMIT. great idea....

also purchased a smallish basket of shitcoins. it looks like a time when the shitcoins might be trying to break out. my basket is STEEM, LSK, VRC, MAID, GAME, EXP, IOC and XCP as an intermediate term high risk trade. I intend to buy a few WAVE and hold about 900 LTC as a long-termer.
 
Steem pile prolly won't end well (especially for the devs when law enforcement arrives).... great basic idea and fascinating mega scam... my opinion
 
Is there a quick guide to start trading cryptos? Do you need to be a CS grad to understand this stuff? seems pretty complex on first blush. Fascinating though.
 
I believe that these crypto-currency trading exchanges are simple to trade any digital currency listed on them however we need to learn the trends and market before jumping in it, otherwise there are many currencies like XMR, STEEM, ETC, XWC, DAO etc which sky rocketed in start and then went too low or even disappeared or de-listed by exchange.
 
No opinions on DistrictOx. Don't know much about it. It seems like it was the ethereum ICO exchange in the vein of etherdelta. Could be wrong. BAT is promising. There is competition in that space, but the BAT team is the most fierce. I have a small stake of 1500 on BAT that I bought when it hit the exchange.

If you have any good info on DistrictOx, post it. Maybe someone gets some use out of it. I rarely view this site anymore. I just scope a few posters as contrarian checks and for a good laugh every now and then.

other current holdings:

bitcoin, dash, ether classic, eos, litecoin, monero, ethereum, blocknet, neweconomymovement, trustcoin, neo, zencash, qtum, civic, omisego, factom, komodo, golem, aragon, radium, waves, ubiq, decred, pivx, crown, nexus, stratis, edgeless, iex.ec, neoscoin, ripple, sibcoin, wings, digix, shift, maidsafe, firstblood, expanse, siacoin, storj, monaco, gamecredits, guppy, lisk, ark, navcoin, safeexchangecoin, incent, LBRY, humaniq, counterparty, ten X, gulden, metal, burst, einsteinium, artbyte, monetaryunit, chronobank time, bata, bitbay, status, ardor, zclassic, cofoundit

I doubt I put more than a total of $7,000 into the smaller coins since last December which is when I started regularly buying into them. The current value is multiples higher even after taking out at least $15,000 in cash (could be much, much higher than that as I am not looking at my records and exchanged a bunch of the smaller coins into ethereum and litecoin and moved them into hard storage).

Current top small cap digital assets going forward off the top of my head: OMG, Civic, WeTrust, Filecoin, Qtum, NEO, Ubiq, Aragon and maybe ZenCash. **Do your own research before investing, blah, blah.

5 year bitcoin target: $100,000 plus or zero. If bitcoin for some reason goes down, it will be replaced by another cryptocurrency market leader. At this point, no one can put the cat back in the bag.

Good luck man.
 
From lexology.com

Latest Defendant Charged by SEC With Selling Unregistered Digital Assets, LBRY, Fights Back Aggressively

USA April 1 2021

On March 29, 2021, the U.S. Securities and Exchange Commission charged LBRY, a blockchain company, with conducting an unregistered offering of digital asset securities. According to the SEC's complaint, from at least July 2016 to February 2021, LBRY, which offers a video sharing application, sold digital asset securities called "LBRY Credits" to numerous investors, including investors based in the U.S. The complaint alleges that LBRY did not file a registration statement for the offering, and that the offering failed to satisfy any exemption from registration. The complaint further alleges that by failing to file a registration statement, LBRY denied prospective investors the information required for such an offering to the public. As alleged, LBRY received more than $11 million in U.S. dollars, Bitcoin, and services from purchasers who participated in its offering.

The SEC's complaint, filed in the federal district court in New Hampshire, charges LBRY with violating the registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933. The SEC seeks permanent injunctive relief, disgorgement plus prejudgment interest, and civil penalties.

LBRY has responded by launching a website called helpsavecrypto.com, where the first words on the landing page say, "The claims made in SEC vs. LBRY would destroy the United States cryptocurrency industry." LBRY says that it does not believe that the LBRY Credit is a security subject to SEC regulation.

The FAQ section of the website discusses the lawsuit. LBRY says that the SEC assertion that LBRY Credits have no use other than speculation contradicts the facts and history of experience on LBRY. They say that the LBRY Credit serves an integral function in its network. It allows individuals to create an identity, tip creators, and publish, purchase, and boost content in a decentralized way. Millions of people have used it this way, and were using it well before any tokens were sold to anyone. LBRY also states that, despite LBRY being used by millions of people, to its knowledge, not a single person has alleged harm or damage as a result of purchasing LBRY Credits.

One section of the FAQ explains why this case is unusual compared to others brought by the SEC. It says:
  • The SEC is not alleging fraud.
  • LBRY Inc conducted no Initial Coin Offering (ICO).
  • LBRY Inc did not breach any fiduciary duties.
  • LBRY Inc at no time indicated that LBRY Credits were an investment, and consistently discouraged purchasing Credits for this purpose.
  • LBRY Inc did not sell any tokens until after they could be used on a functional network, a previously stated key element by the SEC in how they assess token transactions.
LBRY asserts that the implications of the lawsuit "are extremely dire for the blockchain and technology industry in the United States." In its view, under the standard being applied by the SEC, every blockchain technology that is actively developed faces existential threat, so long as that development is either funded by a token holder, even if indirectly, or if the developers themselves hold the token.

According to the website, LBRY has been under investigation for three years and has already spent more than $1 million on legal fees.

Baker McKenzie - David Zaslowsky
 
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