Expert Recommends Analyzing Altcoin Market Behavior in the Last 4 Years before Investing

Willmen Blanco
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Expert Recommends Analyzing Altcoin Market Behavior in the Last 4 Years before Investing

Willy Woo, cryptocurrency analyst, divides altcoins into oscillators and degenerators. While the former has a market like Bitcoin, the latter loses value every year.

Cryptocurrency analyst Willy Woo notes that before investing in an altcoin, it is important to analyze the behavior of its market. The expert indicates that the last 4 years of a cryptocurrency are crucial to determine if its value will remain or decline.

In his Twitter account, Woo classified altcoins into degenerators and oscillators. According to his research, degenerative cryptocurrencies are those that lose value over time. The analyst suggests that these assets may initially seem very promising but eventually fail to overcome periods of bearish markets and lose their price rapidly.

On the other hand, oscillating cryptocurrencies are those whose value remains over time. These altcoins have markets with behaviors that are similar to Bitcoin trading movements. For instance, an oscillating cryptocurrency usually increases its price when Bitcoin rises and decreases when it falls.

For this reason, Woo notes that it is vital for investors to be able to distinguish degenerative from oscillating altcoins. If users want to multiply their profits by betting on the altcoins ecosystem, they must focus their attention on oscillating crypto assets.

Identifying Them

Willy Woo stresses that an easy way to know whether or not a cryptocurrency is a degenerator by reviewing the graphics of its market in the last 4 years. The analyst suggests that the behavior of cryptocurrencies toward bearish and bullish Bitcoin markets must be considered to know whether that cryptocurrency can maintain its value.

Degenerative altcoins show graphs that express a downward line over time. This is due to the fact that the price of the cryptocurrency and its volume of transactions have been decreasing over the years. An example that Woo mentions is the cryptocurrency Namecoin, a promising project at the time of its launch, which today has lost all its value.

According to Woo, over 2,000 altcoins have graphics similar to those of Namecoin, proving that degenerative markets are the majority. Likewise, he noted that anchored stablecoins or cryptocurrencies can also be considered long-term degenerative altcoins. This is because they are supported by fiat currencies, such as the US dollar, which depend on economies subject to inflation or monetary devaluation.

The analyst perceives that oscillating altcoins are nothing but a handful. By keeping pace with the profits of Bitcoin or the dollar, their market charts resemble oscillating horizontal lines. If the user compares these graphs with those of Bitcoin, the oscillations of both markets also tend to coincide as they indicate the bullish or bearish periods.

Woo believes that Dogecoin, the currency jokingly created among ecosystem users, is an oscillator. Dogecoin is a market with good liquidity since almost all exchange houses accept it and it is compatible with most wallets. Since cryptocurrencies are monetary instruments, their value is based on how it affects the economic network rather than on how good their technology is.

For this reason, the expert concludes that users should not invest in a cryptocurrency just because it has better technological advances. Instead, it may be useful to review how its market and its users behave to predict whether or not its value will be maintained over time.

By Willmen Blanco

Jobs in the Crypto and Blockchain Industries Have Increased By 26% Since 2018

Andres Chavez
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Jobs in the Crypto and Blockchain Industries Have Increased By 26% Since 2018

Cryptocurrencies and blockchain technology are dominating the world, as each and every day more countries, companies, public services, and other entities apply both of them to reap the benefits of the “future of money,” in the case of the former.

And thankfully, if an average person is interested in looking for a job, there are plenty of openings to go around thanks to the boom of companies that provide these services and that use them. As a consequence, those people seeking employment in the blockchain or crypto industries are in a position to secure a good, stable payday.

According to a popular job listing site, the number of ads in shares per million uploaded by blockchain, crypto and bitcoin-related companies and firms increased by 26% in the period from 2018 to 2019 after an impressive trend of 1,457 percent growth in the field that lasted four years, per data extracted from a study performed by “Seen by Indeed.”

More Details

However, people’s searchers for sector-specific jobs and openings dropped a sizable percentage (53%) in the period discussed above, after an even longer downward trend, per the study from the company.

In fact, the enthusiasm of people in looking for blockchain and crypto-related jobs reached its highest point near the end of 2017, which is not at all surprising considering that it was the famous price increase that saw Bitcoin reach its all-time high of nearly $20,000 by early 2018. Since that moment, the world’s premier crypto asset has been slowly going down.

However, we have now seen how quickly a bull run can drive up Bitcoin’s value, and there is a strong possibility that with another price surge comes a renewed interest from the workforce is looking for a job in the blockchain and cryptocurrency industry.

Examining the study in detail shows that 2019’s top five sector jobs being posted by managers and employers around the world are nearly all related to the digital world and computer work: software engineering, full-stack developer, software architect, and other related positions are some of the most frequent openings in enterprises.

Companies Looking for Blockchain Specialists

The five most prominent companies looking for talent to work with blockchain and related affairs are, ranked first through fifth, Deloitte, IBM, Accenture, Cisco and Collins Aerospace. Ernst & Young is also a top 10 firm, joined by the likes of Coinbase, Overstock.com, Ripple, Circle, Kraken, and Consensys.

Other prominent and widely known companies such as the JP Morgan Chase bank and the Signature Bank complete the top 15 in the ranking.

There are numerous banks, cryptocurrency exchanges, and tech companies at the top of the list. However, there aren’t many prominent telecom firms, as only Verizon is in the top 15, ranked tenth to be exact according to Indeed.

According to Indeed, the number of jobs will keep going up next year “even in the face of extreme price volatility and regulatory uncertainty of cryptocurrency.”

By Andres Chavez

Crypto-cyberattacks Affect Mexico, Ecuador, and Peru

Maria Rodríguez
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Crypto-cyberattacks Affect Mexico, Ecuador, and Peru

Criminals use new technologies to violate the information of crypto-accounts and steal passwords. Users must check the authenticity of the pages they use in their devices.

Criminals in the digital world are attacking Latin American countries. Mexico, Ecuador, and Peru are the nations more affected by crimes such as Bitcoin rescues request, stealing crypto wallets and mining cyber-attacks.

“Internet users in Latin American countries are under the threat of different types of cyber-attacks every day”, commented the security company Eset, which conducted a study about that issue.

Cyber-crimes increase in a similar trend than cryptocurrency transactions. Peru is the country with the highest detection of cyberattacks related to crypto-mining in the region between January and September, according to Eset.

In this way, Peru has “11% of detections of computer crypto mining viruses”. Eset explained that private computers in that country are used illegally for cryptoactive mining in the Peruvian territory. Mexico is the second country with high levels of cyber-crimes. It has 10.6% of trend and Ecuador, the third country, has 9.8%.

The Reasons

Cyber-criminals use that modality to illegally use the resources of a computer or device, in order to execute algorithms that will allow obtaining cryptocurrencies.

During 2019, 44% of detections in Latin America originate in Javascript language. This implies that the infection starts on websites that use programming language. In fact, according to Eset, 24% of the infection comes from Windows devices.

Luis Lübeck, a computer security specialist at Eset Latin America, explained that cyber-criminals recognize websites with a large number of visitors. They take advantage of this to violate their security and introduce a code. The miner will run on the browser and the crypto-criminal will have access to the information of the user.

Another modality used by attackers is to attract users to download malicious programs on their computers or smartphone. For this, criminals use emails with suspicious links to achieve their terrible purpose.

New Forms of Attacks

Technological advances are also exploited by cyber-criminals. They take advantage of new devices and seek forms to be present where other users go.

Connected devices, which use the Internet of Things (IoT), have also been violated. The problem is that IoT computers do not reveal “symptoms” of infection to alert the user. This is according to what Lübeck explained.

“The user can’t tell if his webcam, smart TV or router is slower. They access from stolen user credentials”, he said.

Another Numbers

Recently, the technological services firm CompariTech gave information about the countries that are more and less prepared to cyber-attacks and which countries are more susceptible to cyber-criminals.

Among the countries most vulnerable to cyber-attacks are Belgium, Dominican Republic, Samoa, China, Afghanistan, Tajikistan, South Africa, and Australia.

The average cost of cyber-crime in the world is as follows: United States $ 17.36 million, Japan $8.39 million, Germany $ 7.84 million, United Kingdom $ 7.21 million, Brazil $ 5.27 million, and Australia with $ 4.3 million.

Currently, the countries which are best prepared for cyber-attacks are Canada, the United States of America, Brazil, Norway, Germany, Estonia, Oman, New Zealand, and Malaysia.

Users must try to avoid using browsers or Apps little known and also must avoid opening suspicious emails. Additionally, they must be sure to use secure and official websites, reading first the address of the page, in order to protect their vital information.

By María Rodríguez

Crypto Entrepreneur Bobby Lee Believes Bitcoin Will Complete “Flippening” of Gold By 2028

Andres Chavez
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Crypto Entrepreneur Bobby Lee Believes Bitcoin Will Complete “Flippening” of Gold By 2028

Ever since Bitcoin proved that it has the ability to be worth $20,000, it earned worldwide attention even during its subsequent slump. Now, many investors are hedging their funds by turning them in BTC; this is, by far the world’s most valuable digital asset. Whilst a sizable portion of the community remains skeptical, others seem to believe that it has the potential to surpass gold, a millenary asset, in market capitalization.

Regarding that debate, Bobby Lee, a very well-known figure in the crypto industry, has said that BTC will eventually leapfrog gold in the market capitalization ranking and has the potential to be worth $1 million.

A Hot Debate

The founder of crypto exchange BTCC and the owner and leader of a Bitcoin wallet startup named Ballet, offered his thoughts via Twitter on the weekend, providing yet another voice in the hot debate between Bitcoin and gold and which is more convenient and valuable.

Right now, the market cap of gold is $8 trillion and Bitcoin is currently at $160 billion. That makes BTC 50 times lower as things stand today, but a reversal of fortunes could be taking place in 2028 according to the crypto entrepreneur.

Bobby Lee wrote in his official account in the microblogging site, @bobbyclee, “I predict the #flippening will happen within 9 years and $BTC will shoot up past USD $500, 000.00”. He shares the same view as many people in the industry: he thinks that over the next ten years, the amount of Bitcoin that will be issued to miners, there will be three-block halvings.

Lee also observed that “by 20th year, the daily new output will just be ~255 BTC — yearly inflation of less than 0.5%. More scarce than #gold!”  His thoughts are mostly in agreement with those of Stock to Flow, which is an instrument that uses BTC’s new supply and compares it to the existing stock to try and predict its future worth.

The Next Block Halving Will Unlock the Price

Crypto news site has recently reported that until the next block halving, the BTC price will be around $8,300, but once that happens, the landscape will start to change, and quickly: the projections forecast value of $100,000 in two years’ time.

Lee, like other sources and entities such as PlanB, are predicting, is also forecasting that Bitcoin’s price will be far higher in the latter part of the 2020’s and beyond. In fact, PlanB seems to think that money printing could eventually affect the Stock to Flow model, whilst Lee believes that each BTC could be worth $1 million if global money printing continues.

“I would be happy if the model holds for 1 or 2 or maybe 3 more halvings. Especially since BTC is measured in $ … who knows what happens with $ if the FED keeps doing more QE (money printing),” he said in his official account.

The fact remains that the Bitcoin versus gold as alternative stores of value is hot and is far from over. Peter Schiff is a major detractor of the concept of Bitcoin ever surpassing gold, and he said recently that the fact China will back its CBDC with gold wasn’t a very good sign for Bitcoin.

By Andres Chavez

Joseph Lubin Hopes that Ethereum is able to Interoperate with China’s CBDC

Andres Chavez
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Joseph Lubin Hopes that Ethereum is able to Interoperate with China’s CBDC

Joseph Lubin, the Co-Founder of Ethereum and leader of the ConsenSys project, stated that he has high hopes that the Central Bank Digital Currency (CBDC) of China will foster interoperability with public permissionless blockchains like Ethereum.

Lubin offered his thoughts during an interview with Forbes over the weekend. He referred to Ethereum as a “very positive virus” and explained that he assumed “it is going to be exactly what Chinese leadership thinks is most beneficial to the Chinese leadership. Hopefully, that’s also open and we can interoperate with it, but I don’t know.”

Increased Participation

Enhanced participation from China in the Ethereum platform would certainly be a positive for the entire ecosystem, and Lubin seems to agree, stating that he would love for that to happen. He used the example of Belt and Road commerce platform based on blockchain and said that it currently implements a weak technology, paling in comparison to public ones such as Ethereum.

“I would love to help China get experts in Ethereum technology. […] The main idea is that Ethereum is the strongest of the blockchain technologies and it’s a very positive virus to implant in people’s minds,” was his exact quote on the matter.

The co-founder of one of the biggest public blockchains in the whole world also observed that he expects that China will keep trying to undermine the American dollar’s position as the planet’s reserve currency, but he also seems to think that the Asian powerhouse’s central bank digital currency (CBDC) will not have a huge impact on that situation.

Lubin also said that both China and another influential country when it comes to world politics, Russia, are trying hard to conduct business without having to use the U.S. dollar. Whether they will succeed on that front remains to be seen, however.

Lubin concluded that “there are lots of reasons why American influence is shrinking and will probably continue to shrink. That may not be a bad thing but in some ways, it’ll be a bad thing. China’s particular cryptocurrency I don’t think is a major factor.”

Deep Packet Inspection: the Key

Recently, China and its authorities have been on the news because they clearly do not want any other digital assets to compete with its own. Ethereum (ETC) is included in that situation. Lubin said that the ability to stifle them depends on the motivation and that the government’s ability to obstruct people’s access to these currencies will also have to do with progress in deep packet inspection techniques.

Of course, it is clear that the Chinese government can do whatever it wants to, and those were the exact words Lubin used to refer to that situation. He notes, however, that the ever-changing technology landscape has provided people with more tools to bypass censorship, such as mesh networking and satellite-blockchain streaming.

The interviewer asked Lubin if he believed that the implementation of the CBDC in the nation could ruin or interfere with the benefits of the blockchain and control every transaction performed by citizens, and he replied that “China is a business that writes its own rules and has an enormous customer base — 1.4 billion people. That’s a tough economic force to compete with. I do think there’s instability. I think leaders are constantly terrified of revolution, so they have to keep the people relatively happy at some baseline level.”

By Andres Chavez

More Dignity in Old Age with Bitcoin

Willmen Blanco
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More Dignity in Old Age with Bitcoin

Older people are more likely to find themselves in a situation of economic vulnerability. Bitcoin, as a saving method, can provide the elderly with greater independence and economic prosperity.

A Japanese elderly steals a loaf of bread in a wholesale store, while another in Venezuela dies from hunger. This happens because the daily income of a person over 60 depends mostly on the state or third-party policies. In situations of precariousness and abandonment, cryptocurrencies like Bitcoin offer an alternative to traditional retirement funds.

The World Health Organization (WHO) estimates that by 2050 around 22% of the world’s population will be older than 60. Although the increase in life expectancy is one of the 20th century’s greatest achievements, it has led to unfavorable consequences.

As most elderly people do not work actively, they depend on pension funds to survive. In this sense, countries with the longest-living population, such as Spain and Japan, have decided to change their pension policies. However, companies in this sector are not as profitable as in previous years and could be forced to cease operations.

Old age is no longer profitable either for these companies or for those undergoing it. The biological and social conditions that senior citizens experience expose them to abandonment, excessive dependence and invisibility. Many people have worked their whole lives to contribute to the State, but this seems to have been insufficient.

In the absence of purchasing power, the elderly find it hard to get access to good food, medicines, new goods and services. In this sense, the quality of life for this sector of the population is greatly reduced.

Bitcoin Is a Solution

If the problems of the elderly have an economic origin, their solutions must also be of a financial nature. Experts recommend that people save money before retirement, given that retirement pensions are usually insufficient. Buying properties, investing in foreign currencies and having savings funds are popular strategies to ensure a more dignified old age.

Anthony Pompliano, an enthusiastic cryptocurrency investor, proposed last year that pension funds use Bitcoin. He considers that cryptocurrencies can help this industry avoid having more expenditure than income due to the increase in the population of retirees. This is because it has better return than other market assets like the US dollar.

The investor says that Bitcoin has asymmetric return as its users have made more profits than losses since its launch. He also noted that this asset is not correlated with other markets, so the events of a country or company do not affect its price.

Morgan Creek Digital, a company founded by Pompliano, managed to close an agreement with two US pension funds in 2019. Both companies, originally from Virginia, agreed to handle about USD 40 million in Bitcoin. The alliance set a precedent on the management of pensions with cryptocurrencies, but there are still many alternatives.

Senior citizens do not have to wait until a third party takes cryptocurrencies to cushion their purchasing power loss. Elderly people can also save with Bitcoin, using their own wallets and becoming directly involved with this new technology.

Cryptocurrencies not only offer greater economic prosperity but also greater independence. People do not have to depend on a bank, a company or the State to deposit the fruit of their work, but simply check their movements and balance in Bitcoin from a computer.

Developing new skills and self-sufficiency are qualities that considerably help improve the elderly’s quality of life. It is precisely in this specific area that Bitcoin can be of great help.

By Willmen Blanco

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