Q&A With Marble Coin Developer Jon

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.

 

 

 

 

 

 

 

 

 

 

MARCO Update – First Profits Roll In

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!

marcorewards.JPG

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.

Passive Income With Masternodes – XMX

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:

xmx.JPG

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.

Non-Crypto: Dow Jones Index

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.

June Crypto Holds

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.

$MARCO Masternode – Passive Income

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:

Screen Shot 2018-06-21 at 12.54.53 AM.png

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.

Basic Technical Analysis: Drawing Lines

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.

btc1hr.png

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.

Bitcoin is Better Than Banks

Through my conversations with friends, family, and strangers about cryptocurrency, it is clear to me that most people do not fully understand the potential that Bitcoin and other cryptocurrencies have. That isn’t their fault–the Bitcoin community hasn’t done the best job of communicating the problems that cryptocurrencies can solves, the potential benefits of implementing a system with digital currency, or why we even need to replace the system that we have.

Let’s start with the problems that the current system has and how digital currency can fix them.

Oversupply/Susceptibility to Inflation and Devaluation

Currency as we know it comes in the form of bills and coins. These can be issued at any time without any limit or hard cap on the total supply. If corruption infiltrates our government and decides to print as much currency as they want, there’s not much there to stop them. We don’t vote on the currency supply–we don’t even really pay attention to it as members of the general population. Think about it: if the US government suddenly prints $100 million, doesn’t that make the dollar bill in your hand more common? Less valuable?

Bitcoin has a fixed supply. There will only ever exist 21 million Bitcoin in total. Most cryptocurrencies have a fixed supply. This can only ever be changed through a voting system that would change the code to allow for a larger supply. This ensures that the people using the currency have control over the supply and can prevent oversupply and inflation.

 

Privacy/Security Vulnerability

Privacy issues occur every day in the financial world. You may have even experienced this yourself. Every time you buy something online you have to put in numbers that if compromised, could affect your ability to purchase essentials like food, rent, and electricity. Credit card numbers cannot be easily guessed but they can be easily skimmed. This can be done through a physical device placed on the reader or hidden in a malicious website. It’s insane that we trust our financial security to numbers that we have to enter and expose daily.

Bitcoin transactions are completely secure. You do not need to give any personal information to send a Bitcoin transaction. You need only enter the wallet address of the receiver and specify the amount. No numbers, names, or any other private information that people can steal. Nobody but you can spend your Bitcoin from your private secure wallet. You can complete a Bitcoin transaction online with somebody looking over your shoulder and still not worry about security.

 

Durability

Paper and metal money undergo a tremendous amount of wear and tear on a daily basis. A paper bill takes a beating just from being in a wallet. It gets folded and creased possibly dozens of times a day. Metal coins are more durable but still can corrode. Perhaps the biggest problems with coins is that they are a waste of resources and can be quite a nuisance. Carrying change in your pocket or car is flat out annoying. Coins can be lost or even thrown away before they ever get spent.

Bitcoin is electronic. There is no wear on a Bitcoin. They will always be usable. We will not have to use taxpayer money to put infrastructure in place to replace or repair it. It will never get lost. All small amounts will remain in the wallet. There is no change to keep track of and we can divert all the resources dedicated to designing, minting, and replacing our current currency to other much-needed areas of our government.

 

Transparency

We do not know exactly how many dollars are in existence. We don’t know where they are located. We don’t know when our government moves large sums to obscure locations. We know very little about our money supply.

Cryptocurrency can enable us to understand more about our money supply. We will be able to tell exactly how much of our currency exists and where it is concentrated. Complete anonymity is possible with crypto, but we will still know if large amounts are being hoarded or accumulated with the purpose of manipulation. This is something that we desperately need in a time where there is very little distrust in our government and the massively wealthy.

 

Digital currency is not the only application for blockchain technology. There are so many industries that can be helped with this technology and we are just barely scratching the surface of the potential for this revolution. As always, if you have questions or comments on anything I’ve written or you’re looking for a place to start, feel free to DM me on whichever social media platform you desire.

 

Market Update

Hello everyone! It’s been a crazy couple of weeks in cryptocurrency. Hopefully the damage done to the market has had a minimal effect on you and you’ve been able to mitigate risk by getting great entries and practicing risk management. I haven’t updated you in a while on my strategies for this type of market, so today I want to tell you what I’ve been up to.

 

Passive Income

A couple of weeks ago I told you all that I would be trying to set up passive income streams via masternodes. Well, a short time after that I was able to set up my very first one. It is a SMART node, and it earns somewhere in the neighborhood of $10 a day without me doing anything. Though the passive income will be nice, the value of SMART has decreased by almost half since I set it up. So I am down 50% on my original investment. I do anticipate SMART rebounding in price when people start to reenter the crypto/altcoin markets that they exited out of fear over the past couple weeks. In the meantime, I will just sit back and collect my SMART rewards.

 

New Trading Strategies

Since I have been unable to trade alts and the volatility is low in the USD markets, I have been exploring new strategies on different timeframes. I have learned a couple of new indicators that have so far really been helping me get a better picture when I look at a chart. Currently I am experimenting with trading on a 5 minute timeframe instead of my usual 1 hour timeframe. If I am able to master this, I will be able to do several, quick trades per day. This is more fun, but also more tedious. I’ll keep you updated.

 

Trading In USD

When BTC goes down, everything else tends to go down with it. Altcoins don’t experience that much volatility or even general increase during a BTC bear market. Though I believe this is temporary, I had to find something to do while it was happening, since I specialize in altcoins. Whenever BTC slumps like this, I like to use tether and USD in my exchange accounts to trade the larger cap coins. I actually find it really refreshing to think in terms of USD when I’m trading instead of BTC because when I trade using USD I only have to think about one market. When trading alts, you have to always be watching not only that market but also the BTC market because every move that BTC makes will affect your altcoins. Trading in USD is way more calm and for me it’s even a little easier.

 

Trading on Margin (Experienced Only)

Though I have found that I enjoy trading in USD, the gains are slower and smaller than trades in BTC. This can be remedied by using leverage on your exchange of choice. I prefer to use Bitmex and trade BTC on the 5 minute timeframe. I’m usually able to do 5-10 trades per day using a few indicators. Trading on margin can be very dangerous to anybody who doesn’t know what they are doing. You should only try this once you have had success trading in USD consistently and you know how to use risk management strategies. I enjoy margin trading because it is high-speed and it enables you to make large gains from small movements.

 

Open Positions

During the crash, I sold some of my assets to USD to ensure that if crypto completely crashed, I would have enough to pay for expenses and to begin trading again. Fortunately, crypto did not die. So, about 20% of my portfolio is in USD right now. I have about 25% in ETH, 20% in ETC and the rest is spread out between various alts. My average entry on ETC is $32 and I’m looking for at the very least a 2x on that money. ETC has an airdrop coming up and if history has told us anything, it’s that coins with airdrops pump hard. That’s what I’m counting on. I won’t be sticking around for the actual airdrop. I will take profits long before that and short ETC on the way down to make money on the downside as well. Right now I’m waiting to reenter the altcoin markets until BTC decides what it is going to do.

 

BTC Outlook

What BTC does is very important to the rest of the market because the direction of the market tends to follow the direction of BTC. At the moment, it seems that we are recovering better than a lot of people expected. I am on high alert until Chinese New Year, though. Historically, BTC sees its worst days of the year in the days leading up to CNY with a nice recovery on CNY itself. I will be ready to exit any open positions if things start to drop, and you should be too. I will be buying up stuff at the bottom if that scenario plays out.

 

 

I hope you are enjoying your crypto journey. As always, questions and comments can be DM’d to me on social media or through the site.

Passive Income In Crypto: Part 1

Everybody wants to make money while they sleep, right? I do too. It’s always been a dream of mine to live off of passive income while I do whatever I please with my time. There are a lot of ways to do this, but they are all either extremely difficult to get started or require a massive amount of capital. Let’s look at the ways by which you can accomplish passive income in your everyday life:

Interest

Mutual Funds

Mutual funds can be great–for preserving already existing wealth. A good solid mutual fund will be lucky to get 8-10% a year, which is awesome if you’re looking for a solid way to store wealth while also making some gains. Is it a practical way to pay expenses and generate income, though? Let’s say you have $100,000. You put it on a mutual fund and it gets you 10% over the course of a year. Congrats, you’ve made $10,000. Take some taxes and brokerage fees out and you’ve got a cool $7,500 in your pocket. It might pay your rent for a year, but after you’ve done that you still have $100,000 sitting in the account and it’s going to generate close to the same amount every year. So, even assuming that you have $100,000 free cash, it’s not a great source of passive income for the average person who wants to use that money to better their lifestyle.

High Yield Checking/Savings Accounts

Again, these are great for people who need to store wealth, but not so great for those that want to generate substantial income passively. My credit union offers 2% APY on their checking accounts. I’d rather keep my money in crypto (any crypto).

Bonds/CDs

The interest rates on these are dismal. Last I checked CDs were under 2%, and you need to lock up your money for a lengthy period of time. You’re kind of getting the point here, right?

 

Businesses

Rental Properties

Buying a rental property was one of the first options I explored. It seemed like real estate was the business to be in if you wanted to be wealthy and property also happens to be an excellent, tangible asset in my opinion. This option obviously comes with some drawbacks. Again, you’ll have high overhead costs because you’ll either have to shell out a massive amount (to the average consumer) in cash to purchase a property or you’ll have mortgage payments if you choose to finance the purchase. You’ll also need a knowledge of home improvement and basic construction as you’ll definitely be dealing with repairs, unless you want to pay somebody to handle all of it. Finally, the tenants. I’ve only lived in two apartment buildings in my life and I can confidently tell you that I now have absolutely no interest in being a landlord. It sounds passive. I can just buy a property and collect the rent every month. Hell no, man. You can’t. It’s way more trouble than it’s worth unless you have several properties in a high-rent area and you really know what you’re doing. Finding good tenants, ensuring they pay, fixing the property when they inevitably destroy it, etc. Does it all sound worth it to you? Because it doesn’t to me.

Opening A Business

Awesome! If you either have a great idea, lots of money (or the ability to raise the money), or some really great connections in a niche market. You’re looking at high overhead, massive startup costs, and a really high risk in most industries. You’ll probably have to quit your job and go without steady income for a few months while you get things up and running. Assuming you make it past that, you’ll need to find some great staff that you trust to run things while you’re away. The only way this option becomes at least a little passive is if your business really takes off and you end up being able to leave the store alone with your staff all day. Most people don’t make it that far.

Opening An Online Business

This is probably the most feasible out of all the options I’ve outlined so far. Opening an online business is fairly easy. You can do it in an hour if you’re comfortable using the computer. The real struggle here is marketing the business. You need to know at the very least, how to use SEO and Facebook ads incredibly well in order for you to have a chance at success. It will also help you to know how to code in HTML, JavaScript, and CSS at the very least. This will take some trial and error. You will burn through a couple thousand dollars to get it started and it will not come easy immediately. There are huge success stories, though. It can work and it’s probably your best option if you’re looking to open a business. In the beginning it won’t be passive, but if you’re able to figure it out it can definitely become passive.

 

So, here’s the problem. Almost all of these options require a massive amount of startup money to be viable sources of income independently. Our financial system and economy is currently set up in a way that benefits the already wealthy. If you $2 million and you are in a mutual fund that earns even 8%, you’re sitting on a yearly income that is 4x that of the average American. All because you already have a lot of money. Examples like this are the reason that crypto is so appealing to the younger generations who have less money. They know that there is a better way to live. They know that our economy can be better and our financial system is completely rigged.

Cryptocurrency opens doors to a world that was previously out-of-reach for the impoverished, unbanked, and underpriveleged. It makes living a life not filled with 40-hour work weeks possible. There are ways to make viable passive income that will actually make a difference in your life by using cryptocurrency. I have exclusively used trading as a way to make money, but this year I want to build passive income that will ensure I have more time to spend with family and do the things that I want to do without worrying about money. In part two, I am going to outline my plan for how I plan to achieve this.