Today I had the pleasure of interviewing one of the lead developers on the Marble Coin project. I previously published a post about MARCO and its masternodes. To me this project is really promising. The community and the developers are active and committed to making this work and I think that a MARCO masternode is a must-have in any masternode investor’s portfolio. Without further delay, here is our brief Q&A:
Q: One of the biggest barriers of entry to masternodes is to overcome a lack of technical knowledge. Do you see MARCO masternodes as being relatively easy to set up compared to others?
A: That’s hard for me to answer because I have done a few masternode installs and on some level they are basically all the same to me – especially if you are using an install script – the ‘old school’ was a PDF with about 20 to 30 copy and paste steps, so compared to way back when yeah a lot easier. I brought on Tpot because I liked his script from another coin and this was back in march when not all coins had install scripts and we viewed it as a big advantage to be “one click install”. I definitely see growth potential in the MN hosting and Shared MN space hopefully I’ll have the privilege of announcing a project in this arena soon.
Q: You and your team obviously have a knack for finding and investing in masternodes. Would you say that masternodes have an important role in the future of crypto and crypto investing?
A: Thanks! All I can say for sure is Mining costs a lot of everything for pretty tiny returns (unless you’re manufacturing the equipment). Proof of Stake including nodes really seems a better alternative. One of the biggest barriers of entry to masternodes is to overcome a lack of technical knowledge. I’d like to add here that I think there is a big misconception that when you ‘buy a masternode’ your coins are gone like you really paid for the node or they think you cant unlock them when you want (this was me). You will always control your coins on your local wallet on your device. you can sell them whenever you want. I read ALOT of discord posts across hundreds of communities and these questions come up with frightening regularity – maybe we should stop using the term ‘buy a masternode’ because it’s really incorrect.
Q: When you are evaluating masternodes for possible investment, what would you say is the most important metric that you look at?
A: The first thing I look at is the chart because i have a Futures background, but I buy devs and communities.
Q: Do you see you and your team as the real product as opposed to the actual token and technology that comes with it?
A: I think most MN coins are basically DASH clones and if you are actually interested in making a successful coin you need to have a selling point – and ours is the BTC payout.
Q: What is the most immediate goal of the team as of now?
A: We are definitely making some big changes right now. One would be a shift in our investment strategy A close second to that is an update of the Wallet to lower inflation. Also we are looking more closely at dev teams of other projects we feel really have a viable business model.
A couple of days ago I set up a MARCO masternode. If you don’t remember, this project is trying to make masternodes a little easier by only requiring that you set up one to invest in many. The team picks masternodes with a good outlook and invests the community funds. As the profits roll in, they are divided up and distributed among the masternode holders. It’s a cool concept and definitely lowers the barrier of entry to the world of masternodes. Anyways, I got my first rewards. I have already received two masternode payouts!
Obviously I won’t be retiring off of these two rewards, but it’s a great start and really encouraging to see profits roll in after spending the money to get a masternode.
Today I completed my second masternode. I chose XMX because of the low price and high ROI, which means that the risk is low and upside is high.
Here’s the specs on XMX:
The masternode cost me $239 and has a ROI of 240%. This isn’t the best ROI, but since the team seems strong and the cost is low, I see it as a great investment. The masternode cost is bound to go up over time so if I don’t make my money back through masternode rewards, I should get a decent ROI just from holding this coin.
As for the process: pretty smooth overall. The discord has a few really good helpers available to get you through the process. I did have a couple of hiccups, mostly due to me being new at setting up masternodes, but was helped through it fairly quickly. Their official guide could use some touching up and clarifying, but overall it was pretty good as well. The biggest barrier of entry to masternodes is how difficult or confusing it can sometimes be to set them up. That’s why it’s important that the coin you’re considering has a decent community and active developers to help you when you need it.
I’ll be updating my earnings as they come in.
The skill of technical analysis transcends just cryptocurrency. The things that you learn charting coins can often also be applied to other, traditional markets. It’s good to get familiar with those markets because it can help you diversify and continue to earn money when one of your markets, like cryptocurrency, goes into a prolonged bear cycle. For this, I use 1Broker. With 1Broker you can deposit bitcoin and trade traditional markets using their platform. This includes stocks, currencies, indices, and commodities. I don’t trade these markets often, but sometimes a setup comes by that makes it hard to pass up.
Today, I’m looking at DJI.
DJI is in the process of a touch on the 4 hour bollinger band and both RSIs are very low. I entered this trade and I’m targeting a short term bounce for profit. I will update when I exit the trade and the factors that I look for when evaluating where to exit.
Today I’m looking at the BTC chart. Bearish sentiment seems to be very high which actually gives me a lot of hope for BTC here. The 3 day chart specifically looks great to me.
We are in the middle of a touch on the 3 day bollinger band and the stochastic rsi is low and turning up. As you can see, the past two times we bounced on the bollinger band we saw significant increases. The band is also starting to squeeze a bit which could indicate that a large move is coming. Of course this move could also be a downward move, but given the fact that the indicators look great, I think it’s more likely to be a positive move. $8k is my short term goal and then I’ll have to reevaluate. At the moment, Crypto Twitter is bearish because of a rising wedge pattern that is forming on a shorter time frame.
Here’s what they’re looking at:
As you can see, this rising wedge is very similar to the one just above it that resulted in a pretty signifiant drop in price. I do believe that BTC will show strength and break upwards out of this pattern (something BTC has a tendency to do). If the pattern does break downwards like a textbook rising wedge, I will consider that to be troublesome and will be staying out of crypto markets until I see something more encouraging. It could definitely offer some great entries on alts if it happens, though.
Overall, I like what I see from Bitcoin. In fact I like what I see a lot more than anything I’ve seen from BTC in this first half of the year. I think this drop is showing signs of being exhausted and we might be due for some bullishness pretty soon. I will definitely update BTC’s TA as we go because I see the next few days as being pretty important for the development of the chart.
The coins I’m holding this month are based on catalysts. The crypto market is definitely bearish until further notice so I am taking measures to mitigate risk by only holding coins with a good catalyst. I am holding only a few coins this month in addition to my masternode accumulation coins.
VEN – Mainnet scheduled for end of month. Heavily shilled on Twitter and Reddit and the chart has been holding up very well during the BTC bear run.
NXT – Has an airdrop snapshot on the 23rd. This one isn’t as big, but do you remember how hard NXT pumped the last time it had an airdrop?
CS – Mainnet launch by end of June or early July. Broken downward trend on the chart.
DADI – Mainnet launch end of month.
ONT – Mainnet launch end of month.
At the beginning of June I decided to accumulate 1 BTC of these coins combined and see how the fund does during the course of the month. So far, I am down 2.5% on that investment which I think is pretty good considering BTC’s performance over the past month. I chose my entries very carefully and responsibly scaled into each of my trades. As the catalysts get closer, I expect to reach a final gain of 20%+ to bring my balance to 1.2BTC. I plan to rinse and repeat and hopefully continue this strategy.
Yesterday, I set up my second masternode ever. My strategy going forward with masternodes is going to be to find cheap ones with a decent, steady return. This should make them low-risk, safe investments that allow me to diversify my funds, since I can obtain many different masternodes. So, on to MARCO.
Marble Coin masternodes are kind of like owning a share in a mutual fund. The Marco team makes investments in the best masternodes (according to their analysis) and shares the profits weekly with MARCO masternode owners. This is on top of the MARCO mn reward. This idea interests me because it is essentially investing in those who have experience with masternodes and masternode investments. So for someone relatively inexperienced in this area, it’s a great launching point.
Now for some info on ROI:
It takes 25,000 MARCO to obtain a masternode. MARCO can be purchased on CryptoBridge and a masternode is currently worth about $320. The current yearly ROI is 165%.
I will be keeping a close eye on this project and possibly setting up some more masternodes in the future.
Today I’m looking at TRX for another entry. I hold some TRX from a past accumulation period but I am really wanting to increase my position. As you can see on the chart above I have support and resistance drawn and I am aiming for a buy price of 800 satoshi. TRX has a mainnet launch at the end of the month. Before the BTC decline, TRX was doing great in anticipation of this event. Since the market has been bleeding pretty bad since last week, the price of TRX has suffered along with it. This has given time for the price to cool down and offer a great entry opportunity. I am aiming to acquire enough TRX to make it my 5th largest position behind BTC/ETH, OCN, VEN, and ICX.
Bitcoin appears to have entered into a falling wedge pattern. For a refresher on falling wedges, visit Investopedia’s page on wedges. If this plays out well, it will be a bullish pattern and we will see a reversal of the trend when the price breaks the wedge. A very safe buy for BTC would be on the support at the bottom of the wedge if the RSI and Stoch RSI are oversold. I am personally aiming for $8075. I would abandon this trade and use a stop-loss if the price breaks lower support around $7900. This is a 4-hour chart and all three of the indicators I have on the chart look ready to come down. For a refresher on these indicators, please see the appropriate Investopedia pages:
I will be watching this chart closely and overall I feel bullish especially with Consensus ongoing in NYC. If BTC refuses to touch wedge support and bounces with significant volume I would consider that to be very bullish and I would be looking to enter a BTC long before wedge resistance is broken.
The purpose of this post is to show my thought process as it pertains to lines on a chart. Support and resistance lines are very important for getting good entries and exits. It’s also one of the few things I use and take into consideration when evaluating a stock or crypto. As you can see on the chart below, I’ve been drawing some lines on this recent Bitcoin price movement for the past couple days.
The first thing I noticed when I started drawing these lines two days ago was the descending wedge. You’ll notice that on the chart as the triangle pattern pointing down. The lower line of this pattern (support) is considered a good entry as long as it is towards the bottom of the pattern. You’ll see that as the pattern comes to a close, we see upwards price movement, which breaks the top line (resistance). Profit should be taken when the Stoch RSI appears to be capped out at the top (the bottom indicator on the chart).
After the significant retrace from that increase, I drew a line from the peak of this local pattern to the peak of the breakout from the falling wedge. I also drew a line along the bottom points to create two parallel lines, which makes a downward channel. The bottom line is support and the top line is resistance. After the retrace, we came back down to support for another touch on that line. BTC attempted another touch only hours later, but was rejected with significant buy support. This was my signal to get in. I saw signs of BTC bucking the downward channel. I entered the trade at that point and exited when we did see a spike towards the resistance. I played this one safe and exited before resistance because I thought it was possible that we might get rejected and continue down. I was able to make profit, but it turns out that I exited a little too early. That’s okay, though. Profit is profit. Don’t every weigh yourself down with what could have been.
Currently, we are seeing Bitcoin use the former resistance as support as we retrace from our breakout. What I am watching for here is if we fall back into the channel or if we bounce from here. This is a no-trade zone for me and I’ll be sitting on the sidelines until I see an opportunity. Sometimes the best trade is no trade at all.