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      "author": "poshare",
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      "body": "<html>\n<h1>Passive Investing Comes in Many&nbsp;Forms</h1>\n<p>When it comes to executing a proper trading strategy and staying consistent with plans of action for investing in cryptocurrency, many people conveniently presume that the proper method to do so is simply what the crypto community refers to as <strong>“hodling”</strong>. For those who stray away from the often confounding circle of crypto memes, this simply is a subtle reference and reminder to hold on to whatever coins you own. No buys, no sells. The hodler’s mentality is simply to hang on to your bags and let the volatility play out while patiently awaiting your deserved Lamborghini (cue eyeroll).Hodling mostly gets referenced as a reminder to <strong>not get scared off and sell your coins when times get tough in the markets</strong>, as they are during the time of this writing. And despite the vague tones of cringe in the intentional misspelling of a common four-letter word for the purpose of “lol’s”, this is actually a good message for true believers in the blockchain.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*FjjDFIc-YJyrDE-9TU4xOg.jpeg\" width=\"1600\" height=\"1002\"/></p>\n<p>Investors can get impatient watching the slow gains in their portfolios. Staying hands off can be easier said than done, but it is one of the keys to consistently winning.</p>\n<p>There is certainly a benefit to passively holding and tuning out noise in the markets. Avoiding kneejerk buy-high, sell-low reactions to large price fluctuations in any investment is one of the keys to making <strong>major returns long-term</strong>. After all, in the stock market, <a href=\"https://www.investopedia.com/articles/mutualfund/05/activepassive.asp\">day traders have historically gotten burned and have made significantly less returns than passive investors</a>. According to Investopedia,</p>\n<blockquote><em>“Despite indexing’s track record, many investors aren’t content to settle for so-called</em> <a href=\"https://www.investopedia.com/terms/a/averagereturn.asp\"><em>average returns</em></a><em>. Even though they know that a minority of actively managed funds beat the market, they’re willing to try anyhow. ETFs (and index funds) provide the perfect tool.”</em></blockquote>\n<p>The above quote’s reference to ETF’s and index funds is still considered mostly to be a mirage in cryptocurrency, as many still presume that day trading is the only way to truly become rich while investing in an asset class that is so heavily volatile. However, it is a misconception that crypto index funds aren’t feasible and have no means to exist. They actually are very much a <strong>real phenomenon</strong>, and sites like <a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=rebalancing+cryptocurrency+done+right\">Samsa.ai</a> are quickly gaining popularity for offering them to be invested in on a free or low fee basis.</p>\n<h1>What is Rebalancing?</h1>\n<p>Passive investing platforms like <a href=\"http://www.samsa.ai/\">Samsa</a> allow cryptocurrency traders and investors to select an allocation strategy that algorithmically “reshuffles the deck” of their portfolios in order to maintain balance according to the <strong>parameters they set</strong>. Let’s first take a look at an untouched and non-rebalanced portfolio. Let’s say one year ago today, you first invested in cryptocurrency by buying an equal share in five different coins and your balance looked something like this:</p>\n<ul>\n  <li><em>$100 Bitcoin (20%) — $3,420 BTC/USD Price</em></li>\n  <li><em>$100 Ethereum (20%) — $298 ETH/USD Price</em></li>\n  <li><em>$100 Ripple (20%) — $0.19 XRP/USD Price</em></li>\n  <li><em>$100 Bitcoin Cash (20%) — $304 BCH/USD Price</em></li>\n  <li><em>$100 Dash (20%) — $204 DASH/USD Price</em></li>\n  <li><em><strong>$500 Total Portfolio Value</strong></em></li>\n</ul>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*YKhrN0LMM2vwLtAfs-hZ9w.jpeg\" width=\"1600\" height=\"986\"/></p>\n<p>As many of you know, a year in cryptocurrency can feel like an eternity, and an awful lot can change in a 365 day timeframe, such as Bitcoin exploding in an unprecedented bull run to a value of just above $19,700. During the time between then and now, Bitcoin notably hit a high of roughly <em><strong>7.5 times</strong></em> its price from one year ago, and the value of Ripple went north of <em><strong>18 times</strong></em> its initial August 9, 2017 $0.19 value at one point in early January, 2018. All of that being said, if you were to not touch your coins at all between now and then, your balance would read today as follows (numbers rounded for simplicity’s sake):</p>\n<ul>\n  <li><em>$193 Bitcoin (24.3%) — $6,602 BTC/USD Price</em></li>\n  <li><em>$124 Ethereum (15.6%) — $369 ETH/USD Price</em></li>\n  <li><em>$184 Ripple (23.1%) — $0.35 XRP/USD Price</em></li>\n  <li><em>$204 Bitcoin Cash (25.6%) — $619 BCH/USD Price</em></li>\n  <li><em>$91 Dash (11.4%) — $185 DASH/USD Price</em></li>\n  <li><em><strong>$796 Total Portfolio Value</strong></em></li>\n</ul>\n<p>Interesting stuff. Through the massive rise that cryptocurrency enjoyed in late 2017 and slightly less massive fall between January 2018 and now, this portfolio allocation untouched would have netted you a cool +59% return. Congrats! But take a look at how much the percentages of all of your holdings shifted. Your Dash holdings went from being worth <strong>1/5th of your portfolio down to close to 1/9th</strong> because the market pushed it down. Meanwhile, the rest of your coins went up to varying degrees over the past year.</p>\n<p>No matter what your current stance on Dash is today, general investing strategy dictates that if all intrinsic values of these coins have stayed the same, we should be <strong>buying</strong> more Dash and <strong>selling</strong> some of our higher winners like Bitcoin, Ripple, and Bitcoin Cash with the assumption that they will even out in the long run. With rebalancing these assets along the way, we could have had an even higher return than the +59% we ended up with by selling the highs and buying the lows, while maintaining a more even spread of coins. Keeping a true 20% of each coin we initially invested in means selling our peaks and buying our dips in order to maintain our belief in this notion.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*LlgfyCeAJ7XglAQ4J9BxLw.jpeg\" width=\"1600\" height=\"2070\"/></p>\n<p><a href=\"http://www.samsa.ai/\">Samsa.ai</a> offers traders the ability to keep their portfolio allocations protected and stabilized at the portion you would like to keep it pegged to. One coin’s allocation in a portfolio won’t diminish just because it has been outgained by another. Samsa automatically buys more of lower performing coins in order to capitalize when the markets&nbsp;turn!</p>\n<p>In such a volatile asset class like cryptocurrency, it is important to know that separations over time between two coins do not necessarily mean that one is now simply a more promising coin to own. It could just be a large divergence in value in a short or even long timeframe. Dash may have fallen to the wayside compared to Bitcoin Cash, but will it still be worth less than a third of Bitcoin Cash in a decade? Maybe, but it could also surpass Bitcoin Cash and leave it in the dust. That’s where your research comes in to play, and you can come up with a long-term strategy accordingly.In the latter scenario where Dash could surpass Bitcoin Cash, you may look back and kick yourself for not scooping up more Dash while it was cheap. Algorithmic trading platforms like <a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=rebalancing+cryptocurrency+done+right\">Samsa</a> can easily do that for you. Your initial plan from a year ago was to keep an even percentage allocation on both tokens since you believed in both equally. Why should your belief in Dash now only be worth 1/9th of your portfolio and Bitcoin Cash respectively now 1/4th just because the market dictated their values in those directions? This is the problem that <a href=\"http://www.samsa.ai/\">Samsa</a> has successfully addressed.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*N7GTWSvn8SF8C9Zbldy1oA.png\" width=\"1600\" height=\"929\"/></p>\n<p><em>A year long timeframe of how Samsa’s Equal Protocol Index (SEPR) performed against&nbsp;Bitcoin.</em></p>\n<h1>So How Does <a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=rebalancing+cryptocurrency+done+right\">Samsa</a> Do&nbsp;It?</h1>\n<p><a href=\"http://www.samsa.ai/\">Samsa</a> takes care of this above scenario for you, and smooths over the proportion of your holdings periodically to keep this evenly spread allocation of your portfolio at 20% per coin. If the value of one cryptoasset goes up, <a href=\"http://www.samsa.ai/\">Samsa</a> takes those profits and puts them into a coin that has lagged behind. Once it catches up, the profits from the initial lagger are put into the new lagging coin. Rinse and repeat. And it’s all done automatically so that you can “set it and forget it”. This is an absolute luxury for busy investors who do not have time to reallocate constantly, and almost nobody has the time to do this optimally with the speeds in which coin values move up and down.</p>\n<p>The revolutionary trading platform allows traders to allocate their investing strategies however they want, and they are able to use recommended index funds with proven track records like <a href=\"https://www.samsa.ai/markets/indexes/SEPR\">Samsa’s Equal Protocols (SEPR)</a>. Alternatively, traders can customize their allocation to their own preferences, using the coins they want to trade, as well as the frequency in which to rebalance (eg. 2 hours, 4 hours, 1 day, etc.)</p>\n<p><a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=rebalancing+cryptocurrency+done+right\">Samsa</a> uses complex algorithms to periodically buy and sell your cryptoassets to maintain your own specified allocation of coins, whether through Samsa’s suggested index funds, or through your own custom allocations. According to CEO Chris Slaughter,</p>\n<blockquote><em>“Rebalancing is the process of realigning the weightings of a</em> <a href=\"https://www.investopedia.com/terms/p/portfolio.asp\"><em>portfolio</em></a> <em>of assets. Rebalancing involves periodically buying or selling assets in a portfolio to maintain an original desired</em> <a href=\"https://www.investopedia.com/articles/04/031704.asp\"><em>level of asset allocation</em></a><em>.</em></blockquote>\n<blockquote><em>For example, say an original target</em> <a href=\"https://www.investopedia.com/terms/a/assetallocation.asp\"><em>asset allocation</em></a> <em>was 50% stocks and 50% bonds. If the stocks performed well during the period, it could have increased the stock weighting of the portfolio to 70%. The investor may then decide to sell some stocks and buy bonds to get the portfolio back to the original target allocation of 50/50.</em></blockquote>\n<blockquote><em>“Rebalancing,” as a term, has connotations regarding an even distribution of assets; however, a 50/50 stock and bond split is not required. Instead, rebalancing a portfolio involves the reallocation of assets to a defined makeup. This applies whether the target allocation is 50/50, 70/30 or 40/60.”</em></blockquote>\n<h1>Passive Investing — The Way to Survive, Then&nbsp;Thrive</h1>\n<p>What does it mean to be a passive investor in cryptocurrency? And how might traders benefit from more sound strategy via algorithmic technology to trade for them while they remain passive and enjoy their lives? Everyone would love to generate great returns in cryptocurrency, and nearly all of them would like to do it with the least amount of energy and time consumption.Groundbreaking ideas like <a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=rebalancing+cryptocurrency+done+right\">Samsa’s</a> are proving that not all passive investing strategies are created equal, and that you can do more while you hold on to your tokens for the long-term besides simply not touching your precious holdings for weeks, months, or years at a time.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*q9NAYGpW17cbjVT2R6IGRg.jpeg\" width=\"1600\" height=\"1094\"/></p>\n<p>Keeping your tokens is easy to do when you can use an automatic rebalancing platform like&nbsp;<a href=\"http://www.samsa.ai/\">Samsa.ai</a></p>\n<p>It’s quite easy to become complacent and allow the winners in your portfolio to gradually become larger and larger portions of your portfolio, while watching the losers become less and less prominent. However, assuming nothing has fundamentally changed with any of your assets, it is important to understand that those losing assets still have a great chance of catching up to the winners. In fact, your losers often have a better chance of higher gains than your winners moving forward. So it is helpful, no matter what kind of investment you are making, to rebalance your winners and losers to maintain their appropriate weighting allocation in your portfolio and capitalize on the ebbs and flows of the market.</p>\n<p>Taking advantage of the spikes and dips of various coins and constantly shuffling your deck of coins to best optimize the strategy you want is crucial to <strong>beat the competing traders</strong> out there. Instead of constantly monitoring the charts yourself, looking for perfect entry points, and hoping your limit orders fill, let rebalancing platforms like <a href=\"http://www.samsa.ai/\">Samsa.ai</a> do the work for you for practically nothing. Maximizing your gains and minimizing your losses while sticking with your investment strategy is a pretty sought after combination, and now it’s finally attainable.</p>\n<p><em><strong>I write in depth cryptocurrency analysis at Samsa, the passive investing tool for crypto. See what we’re doing at</strong></em> <a href=\"https://samsa.ai/markets/?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=rebalancing+cryptocurrency+done+right\"><em><strong>Samsa.ai</strong></em></a> <em><strong>and see our other analysis at</strong></em> <a href=\"https://medium.com/samsa-ai?utm_medium=partner&amp;utm_source=hackernoon&amp;utm_campaign=samsa_publication\"><em><strong>our magazine</strong></em></a><em><strong>. If you love what you see, give this article 50 claps! If you hate it, show your displeasure with 49.</strong></em></p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em></p>\n</html>",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://hackernoon.com/the-art-of-the-index-handling-cryptocurrency-bubbles-and-minimizing-volatility-371faddfa2dd",
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      "body": "<html>\n<h1>A Need for Diversification</h1>\n<p>Ahhh yes, the good ol’ reliable <a href=\"http://time.com/money/collection-post/2792010/what-are-index-funds/\">index fund</a>. Many of us who have been in the investment world for more than a few months can at least roughly comprehend and explain to our friends and family what the purpose of one is. Additionally, most of us can understand why they are so lucrative in the long-term scheme of investing and in their abilities to <strong>make people wealthy</strong>. In almost every asset class, index funds are immensely popular in today’s investing environment. There has to be a reason our uncles won’t shut up about how the rest of us need to be heavily invested in them.</p>\n<p><strong>So what is being done for cryptocurrency?</strong></p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*eTUXDnMzw81YWbsfP5222Q.jpeg\" width=\"583\" height=\"788\"/></p>\n<blockquote>Above Image: Donald and Melania (in this totally real and not hypothetical or symbolic illustration) are taking notice of indexes changing the landscape of cryptocurrency as we know&nbsp;it.</blockquote>\n<p>Even in the relatively new cryptocurrency space, index funds and ETF’s are <a href=\"https://www.forbes.com/sites/johnwasik/2018/05/11/does-a-cryptocurrency-index-fund-make-sense-for-your-ira/\">starting to gain traction</a> and trust among traders looking for a safety net in arguably what will continue to be <strong>an asset class with the most volatile waters a trader can experience</strong>. Dr. Redouanie Elkamhi, who is the founder of <a href=\"https://www.coinbbindex.com/#/index\">BB Index</a>, states,</p>\n<blockquote><em>“The potential cost savings from investing in an index is perhaps the most obvious benefit to investors of financial market indices. This is even more pronounced in the crypto market given the scarcity of transparent and investable indices so far.”</em></blockquote>\n<p>Index funds can be <a href=\"https://samsa.ai/markets/\">extremely beneficial to traders on new index sites like Samsa</a>, not only to hedge their investments in a variety of coins they believe in, but also to reduce the volatility of their portfolios. Many research one or a small handful of coins, and do the crypto version of putting “all their eggs in one basket”. This can lead to massive swings that can overwhelm an investor’s risk tolerance and ultimately create a barrier for them to be in the heavily volatile asset class.But by grouping coins together and following a sound investment strategy, particularly one that is researched by analysts here at Samsa or by successful traders, one can decrease their volatility while increasing their portfolio’s <a href=\"https://www.investopedia.com/terms/s/sharperatio.asp\">sharpe ratio</a>.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*2sO5BdM7hINNDwmyJgLZzw.png\" width=\"1600\" height=\"715\"/></p>\n<blockquote>Above Image: A representation of what a trader’s balance may reflect during a short/medium timeframe investing solely in a highly volatile coin like 0x (ZRX) vs. a solid index fund with Samsa. There are much higher swings and lower sharpe ratio (on left) than what a portfolio would experience in a balanced group of coins (on&nbsp;right).</blockquote>\n<p>Chris Slaughter, the founder of <a href=\"http://www.samsa.ai/\">Samsa</a>, provides his take as to why actively monitoring and trading cryptocurrency is so difficult:</p>\n<blockquote><em>“Investors have to buy crypto assets on an on-ramp like</em> <a href=\"https://www.coinbase.com/\"><em>Coinbase</em></a><em>, learn about crypto wallets, and transfer their funds to an exchange. Next, the user has to research, price, place, and monitor trades every day to maintain diversification and beat the markets. Finally, they have to deal with the fact that crypto markets are ever-changing and open 24 hours a day, seven days a week, and why the popular</em> <a href=\"https://crypto.robinhood.com/\"><em>Robinhood</em></a> <em>Crypto exchange launched with the phrase “Don’t Sleep.” All of this is way too difficult for most traders to keep up with — and as a result, most people just passively “HODL” their Bitcoin.”</em></blockquote>\n<p>Simply put, investing in index funds eliminate these problems. A group of well deserving coins all invested in an index is a smarter decision than throwing a dart at one coin, and hoping that it provides the best returns.</p>\n<h1>Internet Boom Similarities and Lessons We’ve&nbsp;Learned</h1>\n<p>Today’s cryptocurrency landscape has often been compared to the “dot-com boom” of the mid to late 1990’s. You know, that little tiny bubble at the end of the last millennium which saw the <a href=\"https://en.wikipedia.org/wiki/Dot-com_bubble\">Nasdaq Composite stock market index <strong>rise a cool 400% between the years 1995 and 2000</strong></a><strong>?</strong> Well, many have tossed around the idea that crypto is in the early stages of experiencing a similar phenomenon, albeit a much more rocky and perhaps uncertain one. Yes, the digital currency assets are far from the same investments as actual physical brick-and-mortar, company backed stocks that were emerging right and left 20 years ago. But Bitcoin, Ethereum, and other cryptoassets do have some similarities to the 1990’s versions of eBay and Amazon, at least in the patterns in which they are traded.</p>\n<p>First off, cryptocurrencies are far, far more volatile than dot-com internet companies from the late 90’s ever were. And secondly, if we could accurately predict Bitcoin’s direction on the above chart just based on the similarities it has to the 20 year-old tech bubble, life would be a lot simpler. Third, the asset classes of tech companies vs. cryptocurrencies are simply far too different. There are no physical brick-and-mortar to invest in with crypto, meaning values are essentially purely speculative. Due to a theoretical value that is essentially crowdsourced, it makes future price direction far too difficult to predict for even the most well-accomplished analysts. Anything can happen moving forward as blockchain technology continues to make strides toward real-world application.</p>\n<p>So how do we invest going forward? If you still strongly believe in the future of cryptocurrency, as we here at <a href=\"http://www.samsa.ai/\">Samsa</a> certainly do, then what strategic options are available to use in order to invest responsibly? How can we minimize our exposures to massive downswings and maximize on the upswings?</p>\n<p><strong>In an age where very few people can accurately and consistently predict what cryptocurrency coin, stock, or commodity is about to spike up or fall off a cliff next, index funds have become increasingly important in everyone’s quest to generate the best returns with the least amount of babysitting</strong>.</p>\n<p>Investing should ultimately be about generating passive income, so there is a pretty nice advantage to jumping onboard an ETF or mutual fund where analysts do the research and portfolio adjustments for you in return for a typically small percentage-based fee.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*u8bw7FQ66mxswiw1SWdYmw.png\" width=\"739\" height=\"329\"/></p>\n<blockquote>Above Image: Jeff Bezos, founder of Amazon, working diligently in his office circa 1999. Source: <a href=\"http://www.whiskeyriff.com/2018/01/02/amazon-founder-jeff-bezos-in-his-office-in-1999-is-all-the-motivation-you-need-for-2018/\">http://www.whiskeyriff.com/2018/01/02/amazon-founder-jeff-bezos-in-his-office-in-1999-is-all-the-motivation-you-need-for-2018/</a></blockquote>\n<h1>History Repeating Itself Through Patterns and&nbsp;Bubbles</h1>\n<p>Another attribute that similarly links cryptocurrency to the dot-com boom is how the price of both industries had massive downward corrections following their surges in value. For internet companies, this correction occurred over a three-year stretch between 2000 and 2002, with tech-based Nasdaq dropping from $4069.31 to $1,335.51 (a 67.2% loss). In cryptocurrency, where things typically move on a much more rapid time scale thanks to higher volatility and 24-hour market trading, the price of Bitcoin dropped from its high on December 17, 2017 at $19,783 to a low of $6,048 on February 6, 2018 in a mere 51 days. Bitcoin’s price crashed an eerily similar 69.4% in about one-twentieth the time duration that it took Nasdaq to lose roughly the same proportion of gains.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*k23f-N8sdk2XRkBfJE1ccw.png\" width=\"729\" height=\"575\"/></p>\n<blockquote>Above Image: Bitcoin’s value in dollars (above) over a three-year span shows a striking resemblance to Nasdaq’s value (below) on a 15-year span. This reveals just how quickly markets move in cryptocurrency, and how similar bubbles can be even in entirely separate asset&nbsp;classes.</blockquote>\n<p>As so many altcoins, in this infancy of cryptocurrency, are linked to the success and stability of Bitcoin, an index fund likely would not have protected your portfolio from diverging too far from the pattern we see in Bitcoin’s chart above. However, this will not always be the case. Altcoins will continue to individualize and separate themselves from Bitcoin’s wrath, and that is when having an index will really pay off.</p>\n<p>All this being said, the similarities in the above comparative charts simply infer that <strong>a bubble, in some capacity, did and may still exist in cryptocurrency</strong>. But what does this all mean? Can we expect Bitcoin to follow the same trajectory as tech stocks did 16–20 years ago post-crash? And can we even be certain we are in the recovery period of Bitcoin’s crash? I can say with almost certainty that <strong>the answer to both questions is a resounding “nope”</strong>.</p>\n<p>To assume that Bitcoin’s value is on some sort of conspiracy-driven track to follow the same proportional trajectory as Nasdaq’s composite index did during its famous late 90’s bubble would be foolish. It is hard to find much relevance between the valuation of a still relatively new individual asset like Bitcoin to a massive technology stock market that has been around since 1971 and made up of over 3,000 companies. However, it does demonstrate the psychological similarities that investors demonstrate when they become overly excited about an investment during a massive rise, followed by overly panicked during a brutal fall. It is easy to forget that bubbles and prices in both Nasdaq’s and Bitcoin’s situations are driven by traders.</p>\n<p>We can’t always avoid industry-wide bubbles or erratic, irrational fluctuations in prices. However, index funds do an excellent job of stabilizing and minimizing the effects of these kinds of bubbles.</p>\n<h1>Is the Soaring Popularity of Index Funds Justified? And What About&nbsp;Crypto?</h1>\n<p>According to Trevor Hunnicutt of Reuters,</p>\n<blockquote><em>“Stocks in actively managed hedge funds, mutual funds, and institutional accountings total $17.4 trillion, 25.6 percent of the global equity market cap…”</em></blockquote>\n<p>This is no small proportion, and it clearly is an indication that people want to feel a level of safety when investing (which would be obvious regardless). These numbers also point to the likelihood that investors are trusting their assets with expert analysts at an increasing rate. Many large firms have track records of success that speak for themselves.</p>\n<p>Yes, in the stock world, over the past couple years, major corporations like Netflix and Amazon have individually out-earned your run of the mill S&amp;P ETF by a pretty substantial margin. But most stocks are not Netflix and Amazon, and there are hundreds of American stocks alone that have fallen short of traditional ETF’s and mutual funds during this same period of time. There also have been more than a handful of stocks that have done <strong>significantly worse</strong> than these ETF’s. Since the dawn of their existence, indexes have proven to be quite lucrative in just about every profitable sector. Reliable and trustworthy stock indexes run by established companies like Vanguard, Fidelity, or TD Ameritrade have a <a href=\"https://www.moneymow.com/passive-index-funds-beat-actively-managed-funds/\">proven track record of out-pacing most stocks</a> over long timeframes.</p>\n<p>So knowing what we know about traditional index funds, the question begs to be asked. Is there a need for crypto index funds? <a href=\"https://medium.com/samsa-ai/announcing-samsa-407d8d066c6e\"><strong>We at Samsa think this is a no-brainer</strong></a>, and not just because we provide users with the ability to invest in them. Coins move at varying rates, and there is nothing worse than watching a token you didn’t quite jump in on quick enough proceed to take off. And conversely, watching something you just began investing in drop unexpectedly. Cryptocurrency index funds will allow users to flatten out their exposures to individual coin risk. Worries of jumping in or out of one coin too late will always be a thing, but index funds will help minimize the amount of punishment one feels from a single coin’s volatility.</p>\n<p>Our indexes in particular will allow for automatic reshuffling of your allocations any time you see the need. With so much price movement and volatility on a minute by minute basis, it is impossible to monitor prices without going at least slightly insane.</p>\n<p>That is precisely why we have algorithms in place that will do that work for you and trade based on strategies you are in complete control of. In the end, most crypto investors would like to set their strategies and forget about them for substantial periods of time, all while minimizing their exposures to risk. <strong>We think using index funds are the future</strong>, and they are exactly the solution for users to make passive income without the need to constantly hit the refresh buttons and worry about <a href=\"https://www.investopedia.com/terms/s/stop-lossorder.asp\">stop-losses</a>, <a href=\"https://www.webopedia.com/TERM/F/FUD.html\">FUD</a>, and <a href=\"https://www.webopedia.com/TERM/F/fomo.html\">FOMO</a>.</p>\n<p><em><strong>I write in depth cryptocurrency analysis at Samsa, the passive investing tool for crypto. See what we’re doing at</strong></em> <a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=medium&amp;utm_campaign=the+art+of+the+index&amp;utm_content=hackernoon\"><em><strong>Samsa.ai</strong></em></a> <em><strong>and see our other analysis at</strong></em> <a href=\"https://medium...m_content%3Dall/\"><em><strong>our magazine</strong></em></a><em><strong>. If you love what you see, give this article 50 claps! If you hate it, show your displeasure with 49.</strong></em></p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em></p>\n</html>",
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      "body": "<html>\n<h1><strong>You ask, we&nbsp;listen</strong></h1>\n<p>This week at <a href=\"http://samsa.ai/?utm_medium=print&amp;utm_source=medium&amp;utm_campaign=general+\"><strong>Samsa</strong></a>, we have been busy looking at the bigger picture. The current product we have is an automated cryptocurrency trading tool with transparent analytics of your trade performance alongside tokens and crypto indexes. And right now, this is extremely valuable to the cryptocurrency super-users who take advantage of Samsa’s services. But we believe in a much <strong>bigger</strong> future. We see a future where Samsa can be a one-stop shop for finding the <em><strong>best cryptocurrency investing strategies</strong></em> and a future where anybody, including your neighbor’s uncle’s cousin once removed can start investing at the click of a button. We’ve taken significant first steps in realizing that future and we are excited to share it with you down the road. Until then, it remains ever so important to <em><strong>build a solid foundation</strong></em>, which we are just as excited to share with you this week.</p>\n<h2>Order Histories</h2>\n<p>The most important feature we have been working on at Samsa this week is showing users their Order History. With the help of <a href=\"https://discordapp.com/invite/Z32Ra5z\">user feedback</a>, we realized that this was a huge gap in our product. Even though Samsa was automatically rebalancing user exchange accounts on Coinbase Pro and Binance, there was <strong>no way to see what was going on behind the scenes</strong>unless you visited your actual exchange accounts. This extra leap in order to confirm whether Samsa was working properly is something which needed to be addressed immediately.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*_bUsIRH0zJu04BwPfTzmkw.png\" width=\"1600\" height=\"914\"/></p>\n<p>As such, we have implemented an Order History feature which can be found on the Strategy tab of <a href=\"https://samsa.ai/tracker/\"><strong>Track</strong></a> for both Binance and Coinbase Pro accounts. Hence, if you drastically change your slider strategy, you now have the ability to see the trades which Samsa placed for you based on your rebalance frequency. If you maintain a particular slider strategy over time, you should notice that Samsa will maintain your portfolio position and make minor adjustments only when necessary.<em>A quick reminder that this feature is</em> <em><strong>live for both Binance and Coinbase Pro</strong></em><em>.</em></p>\n<h2>Learn More About&nbsp;Samsa</h2>\n<p>As of this writing, you can now visit the <a href=\"https://samsa.ai/blog/\"><strong>Learn</strong></a> section of the Samsa website. Consider this the blog of Samsa. You will be able to find other Product Updates like these, our insights on various cryptocurrency trends, informational videos, as well as other sites that feature us such as <a href=\"https://hackernoon.com/\">hackernoon.com</a>. We view this as a valuable resource for people learning about Samsa for the first time. Be sure to check it every once in a while for new content as it is released!</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*v5MnG0fJLH-ipoZTb4Rx7g.png\" width=\"1600\" height=\"1157\"/></p>\n<h2>Up and&nbsp;Coming</h2>\n<p>A feature we will be developing is <strong>Public Exchange Profiles</strong>. In summary, Public Exchange Profiles will be a way for users to <em><strong>opt-in</strong></em> and make their performance data (sharpe ratio, volatility, returns, etc.) public. Currently on Samsa, you are able to view the performance of tokens and indexes before choosing your own personal strategy. With this implemented, Samsa could then also feature the best performing traders which fellow traders or new investors can use as a guide for their own strategies. We’ve started prototyping this feature and would <a href=\"https://discordapp.com/invite/Z32Ra5z\"><strong>love to hear your thoughts</strong></a> on whether you would like to see this for real! Until then, we will continue to make sure the current product is as visually simplistic yet functionally robust as it can be.</p>\n<h2>Your Feedback Drives the&nbsp;Product</h2>\n<p>We encourage you to <a href=\"https://samsa.ai/auth/sign-up/\">Sign Up</a> and <a href=\"https://discordapp.com/invite/Z32Ra5z\">Join the Samsa Community</a>. As you get to know the product, we’ll get to know you. Reach out to us, leave us constructive feedback, and help us drive future iterations of the product because when You ask, we listen.</p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em> <a href=\"https://samsa.ai/legal/tou/\"><em>See our full terms here</em></a><em>.</em></p>\n</html>",
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      "title": "August 3 Samsa Product Update"
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      "body": "<html>\n<p>In the <a href=\"https://medium.com/samsa-ai/july-13-end-of-week-product-update-6edaff62fc9b\">last product update</a>, I wrote on the topic of building a more robust product before building one which would draw in a lot of users. I liken it to tidying up the house the day before expecting a lot of visitors. The <a href=\"http://samsa.ai/?utm_medium=print&amp;utm_source=medium&amp;utm_campaign=general+\">Samsa</a> Community waited patiently for the <em>promised</em> launch of trading on Binance and this week, we opened the doors to welcome them in. Samsa x Binance is now <em><strong>live</strong></em> and within just a few days, is already as popular as Coinbase Pro.</p>\n<p><strong>See for yourself at</strong> <a href=\"http://samsa.ai/?utm_medium=print&amp;utm_source=medium&amp;utm_campaign=general+\"><em><strong>https://samsa.ai/</strong></em></a></p>\n<h3>The Importance of Binance&nbsp;Support</h3>\n<p>One of the guiding philosophies behind Samsa is the reduction of risk and volatility in cryptocurrency trading. With our rebalancer, you are able to accomplish this by increasing the breadth of your crypto holdings and manage them at a fraction of the time and effort it would take to day trade. With our <a href=\"https://medium.com/samsa-ai/announcing-samsa-407d8d066c6e\">launch on July 6</a>, we released automatic rebalancing on Coinbase Pro <em>only</em>. Currently, Coinbase Pro trades a select few assets which limits traders in the variety and diversity of their portfolios. By supporting Binance, Samsa allows users to invest in a greater variety of tokens whether it be through a Samsa Index or their own custom strategy. Users who desire to invest in this way are drawn to the capabilities of Samsa’s rebalancer on Binance and we need to build product for these early adopters of our platform.From a technical perspective, implementing this functionality was not as simple as copy and replacing “Coinbase” to “Binance.” The two exchanges offer a different set of endpoints, which Samsa’s rebalancer needs to navigate in order to place trades. Furthermore, the structure of data returned from these exchanges differs, and it is crucial for Samsa’s backend to normalize this data before sending it to the frontend. With proper data normalization, Samsa can continue to build a simplistic UI/UX and users can continue to enjoy an easy-to-use product.</p>\n<h3>What Else Is&nbsp;There?</h3>\n<h4>Binance Performance Charting</h4>\n<p>Although Samsa is now 100% rebalancing Binance accounts, we have not yet implemented Performance Charting. See the l<a href=\"https://medium.com/samsa-ai/july-13-end-of-week-product-update-6edaff62fc9b#5df3\">ast product update</a> for our excitement about Performance Charts with Coinbase Pro. As mentioned above, the backend work for gathering this data differs between the two exchanges but we <em>promise</em> this will be implemented for Binance in the near future.</p>\n<h4>Support for De-Linking Exchanges</h4>\n<p>This past week, we also implemented the ability to detect de-links. This means that if a user deletes their API key on Coinbase Pro, Samsa will detect this and display it on their<a href=\"https://samsa.ai/auth/profile/\"> Account page</a>. To enable Samsa on your account again, simply <a href=\"https://help.samsa.ai/the-basics/how-to-connect-samsa-to-coinbase-pro-formerly-gdax\">follow the instructions <em>here</em></a>. As you might have guessed, this will be implemented soon for Binance as we continue to make Samsa more robust.</p>\n<h4><img src=\"https://cdn-images-1.medium.com/max/1600/1*oxgRd8B_S7QWshqL4pWv1g.png\" width=\"1600\" height=\"434\"/></h4>\n<h4>Landing Page&nbsp;Clarity</h4>\n<p>The Landing Page remains a continued work in progress. Over the past week, we have received a lot of positive feedback on the current design. Here is the rundown.</p>\n<ul>\n  <li>Samsa clarifies that it works on top of cryptocurrency exchanges which you can either link to now, or in the future.</li>\n</ul>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*JT6dzaGxm8DkodudVLbEaw.png\" width=\"1600\" height=\"460\"/></p>\n<ul>\n  <li>Returns and Sharpe Ratios have been standardized to 90 days placing all Indexes and C-Tokens on level ground.</li>\n  <li>Easily compare your Coinbase Pro performance against Samsa Indexes and Bitcoin over time. Binance comparison will coincide with the implementation of Binance Performance Charting.</li>\n  <li>We will clarify what Samsa Indexes are for first-time visitors to the <a href=\"http://samsa.ai/?utm_medium=print&amp;utm_source=medium&amp;utm_campaign=general+\">site</a>.</li>\n</ul>\n<h3>Your Feedback Drives the&nbsp;Product</h3>\n<p>We encourage you to <a href=\"https://samsa.ai/auth/sign-up/\">Sign Up</a> and <a href=\"https://discordapp.com/invite/Z32Ra5z\">Join the Samsa Community</a>. As you get to know the product, we’ll get to know you. Reach out to us, leave us constructive feedback, and help us drive future iterations of the product. Who knows, your requests just might become <strong>Promises Delivered</strong>.<em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em> <a href=\"https://samsa.ai/legal/tou/\"><em>See our full terms here</em></a><em>.</em></p>\n</html>",
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      "author": "samsatech",
      "body": "<html>\n<p><strong>Looking to Provide the Stability Crypto&nbsp;Needs</strong></p>\n<p>You may not have heard of the year-old startup known as <a href=\"https://basis.io/\">Basis</a>. But the cryptocurrency company based out of Hoboken, New Jersey has roared out of the ICO gates and raised over $133 million in the past year to go toward creating a new stablecoin for the masses. The token (formerly known as Basecoin) is a <a href=\"https://medium.com/samsa-ai/stablecoins-carrying-the-way-to-the-crypto-promised-land-c124b2db8ea3\">stablecoin</a> that is programmed to maintain its value closely to the value of one US dollar at all times. <strong>In cryptocurrency, it is not always a practical or available option to simply trade Bitcoin for dollars and vice versa.</strong> Basis works to solve this problem. The Basis team explains,</p>\n<blockquote><em>“Cryptocurrencies have been too volatile for mainstream use. Loans, salaries, and other basic financial contracts are poorly served by volatile currency.”</em></blockquote>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*t4mITtrqcZPCfq2jM3ViJQ.png\" width=\"245\" height=\"91\"/></p>\n<p>The soon to be public non-collateralized stable token, founded by <a href=\"https://www.linkedin.com/in/nader-al-naji-86b14a3a/\">Nader Al-Naji</a>, utilizes an algorithmic bank embedded in its code. This algorithm sets out to:</p>\n<ul>\n  <li>Buy back Basis tokens when demand falls in order to shrink its supply</li>\n  <li>Sell off Basis tokens when demand rises in order to inflate its supply</li>\n  <li>By doing both of the above, the algorithm can optimally maintain that one Basis token is equal to one US dollar at all times.</li>\n</ul>\n<p>Although Basis will peg itself to the US dollar, it has plans to peg to a consumer price index once mass adoption is achieved and it is (hopefully) being regularly used to make real life purchases of goods and services. In a discussion with Josh Chen, a co-founder at Basis, he stated,</p>\n<blockquote><em>“Basis is designed to offer a fully-decentralized, counterparty-free system to users, independent from any centralized source of value in the long term. Bitcoin has shown that users find real value in the safety of a decentralized cryptocurrency. We think users will find similar value in Basis, but with added stability regulated by its algorithmic central bank.”</em></blockquote>\n<p>Founder Nader Al-Naji, a former Bitcoin miner during the early years of cryptocurrency in 2012, has received tremendous backing for his revolutionary idea to create a coin that algorithmically adjusts its own supply as needed. The coin is intriguing not only for its uniqueness among other stablecoins, but also for its <strong>designed purpose of being a consistent force in such a volatile market.</strong>To give an idea of the excitement surrounding Basis, a large chunk of their money raised came from the likes of GV (previously known as Google Ventures), Bain Capital Ventures, fed reserve governor Kevin Warsh, and Lightspeed Venture Partners. Investors know there is a major market opportunity for a coin like Basis, which offers a stable store of value in an otherwise heavily turbulent field. According to the <a href=\"https://basis.io/\">Basis website</a>,</p>\n<blockquote><em>“Basis is designed to maintain a stable value and serve as a medium of exchange accessible to anyone with an internet connection.”</em></blockquote>\n<p>Theoretically, this means that the only thing separating it from that green paper money sitting in your wallet is having an active connection to the world wide web. <strong>With one Basis coin equalling one US dollar, it has the potential to be used as an alternative to purchase goods and services.</strong> If the coin actually establishes itself as a relied upon currency that can be used without significant fluctuations from its intended value, then this will be a big deal for the future and mainstream usage of cryptocurrency as a whole.</p>\n<h3><strong>Trust Issues</strong></h3>\n<p>The designed purpose of Basis (pegging its value to the dollar) is the same as other already existing popular stablecoins like Tether (USDT) and True USD (TUSD). These coins have been circulating through exchanges as relatively easy ways to convert one’s Bitcoin or other altcoin holdings into something stable while circumventing FIAT central banks. However, there has been a lack of proof in fund backing for USDT, as well as slightly wavering values that stray away from the dollar in both coins’ histories. As a result, exchanges have seen many traders avoid these coins as options to stabilize their portfolios. There has instead been an increased demand for regular USD trading pair options on popular trading sites. But is this really what is best for the future of cryptocurrency?</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*CDhRZ_XVNJuoqBVzd33eqg.png\" width=\"1333\" height=\"750\"/></p>\n<p>Cryptocurrency may eventually rest on the viability of stablecoins like&nbsp;Basis.</p>\n<p>This lack of trust in the relatively new existence of stablecoins is precisely what is holding back cryptocurrency from separating itself from the Federal Reserve and central banks as a viable alternative to traditional currency. The struggles and controversies other stablecoins like Tether (USDT) have experienced in trying to make a name for themselves have <strong>opened up the door for Basis to become the first reliable dollar-pegged coin</strong> if they can accomplish what they hope to do. And if Basis does succeed, it will be a concern for the Federal Reserve’s monetary policy.Andrea O’Sullivan, an analyst at CoinCenter, points out that there is:</p>\n<blockquote><em>“fear that if cryptocurrencies are adopted on a wide enough scale, it could have a negative externality, or spillover effect, on the economy as a whole in the form of monetary instability.”</em></blockquote>\n<p><a href=\"https://coincenter.org/entry/how-do-cryptocurrencies-affect-monetary-policy\">Her article</a> goes on to explain that $100 billion of Bitcoin’s market cap only accounts for 1.3% of the world’s actual hard Fiat currency. Therefore, it is fairly unlikely that Bitcoin or another cryptocurrency coin actually makes a dent in the US dollar, Euro, or another major currency any time soon. However, 1.3% is not nothing. And as more people eventually adopt crypto as a means for making legitimate transactions, there will come a time where the Fed will need to actually take Bitcoin and others seriously. Stablecoins such as Basis could be the ones to eventually stir the pot, as their coinciding values with the dollar will give it appeal as a direct alternative.</p>\n<h3><strong>Threat to the&nbsp;Fed</strong></h3>\n<p>It will be very intriguing to see how Basis will coincide and interact with the Federal Reserve’s monetary policy. The Fed currently manages its monetary policy based on the economy’s need to achieve stable prices in the dollar. They can contract their policies when unemployment is too low, and they can conversely expand monetary policy when interest rates are high and economic growth is needed. However, they often <strong>lack transparency in their decision making and there is significant lag time in their decision making.</strong> These decisions are made and announced on a quarterly basis through press conferences that do not always include all details in how they came to their conclusions.Basis and other stablecoins, on the other hand, adjust to its demand virtually immediately. And with the assumption that they will live up to the transparency they promise, it may ultimately force the Fed to be much more accountable and transparent with their actions. A truly decentralized stable currency will either:</p>\n<ul>\n  <li>Be taken as a legitimate threat by the Fed. They can address their own monetary policies to become more honest, proactive, and fair in dealing with public and economic needs.</li>\n  <li>Be ignored and scoffed at as a non-serious threat. The Fed can shrug their shoulders at the presence of the decentralized alternatives that are offered to users. This may backfire if stablecoins like Basis enjoy mass adoption and become a more intriguing and trustworthy option for Americans.</li>\n</ul>\n<p>Randal Quarles, who is a vice chair for the Federal Reserve, made national headlines when he addressed the threat that digital assets were posing to the Fed in the midst of the crypto boom on November 30, 2017. During <a href=\"https://www.federalreserve.gov/newsevents/speech/quarles20171130a.htm\">his speech</a>, he went over the threat of cryptocurrency overall to their reserve banking system. He stated,</p>\n<blockquote><em>“While these digital currencies may not pose major concerns at their current levels of use, more serious financial stability issues may result if they achieve wide-scale usage.”</em></blockquote>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*DX1cQliuZ_CEAJ_oE5oMfw.jpeg\" width=\"1600\" height=\"1204\"/></p>\n<p>Quarles and the Fed understand that under the currently stable economic conditions the US is in, there is not a great deal of fear that people will abandon the dollar. However, the Fed also understands that if the economy begins to slip into another recession or crisis situation, <strong>the existence of an attractive space like cryptocurrency (and particularly stablecoins) will make it that much harder for the dollar and economic state to recover.</strong>Once people find an alternate space they can trust to store their funds, it may self-perpetuate the dollar’s demise.Many suggestions have been tossed around regarding how the Fed may be able to address the threat of cryptocurrency diluting the need for mainstream currency. One suggestion is for the Fed to actually develop its own cryptocurrency, theoretically known as a “FedCoin”. Kevin Warsh, a former U.S. Fed Reserve governor, believes there could be merit to conduct monetary policy after the next U.S. crash. Their own cryptocurrency would hypothetically allow them to hedge themselves in case of crisis, and with the assumption that a growing number of the population continues adopting cryptocurrencies.However, this has not seemed to garner much serious consideration with others currently within the Fed. <a href=\"https://www.thestreet.com/story/14407164/1/federal-reserve-vice-chair-quarles.html\">Quarles responded</a> to the notion of the hypothetical Federal Reserve run cryptoasset idea by stating,</p>\n<blockquote><em>“I am particularly concerned that a central-bank-issued digital currency that’s held widely around the globe could be the subject of serious cyberattacks and could be widely used in money laundering and terrorist financing,”</em></blockquote>\n<p><strong>Creating a “FedCoin” does open up the risk of their currency being used for immoral purposes.</strong> This would certainly be a real concern, as the creation of this coin, which would be intended as a safety precaution for crisis, could have real potential of causing more harm for the Fed than good. There is a risk of the Fed’s version of a crypto token being completely counterintuitive to what they are trying to accomplish, thus there is not a strong push for it currently.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*TmCKPn7OBpp3qbbqu-K_Xg.jpeg\" width=\"1600\" height=\"1066\"/></p>\n<p>So how does the threat of cryptocurrency to the Fed relate specifically to Basis? Well, a coin that can function off of its own centralized bank can efficiently do everything that the Fed can with its flawed, often criticized monetary policies. And if Basis can improve upon this and allow for more precise levers to dictate the purchasing power the US and other countries have, and doing so through the inclusion of their own real-time central bank that is sustainable, there will be less and less need for the Fed and central banks to dominate the decisions pertaining to when our economy is supposed to “heat up” and “cool down”.Probably the most obvious reason that Bitcoin is not currently taken seriously as a threat to the Fed’s monetary policies is because it is just far too volatile. But a coin that intends to be the same value as the Fed’s dollar and has its own policies? That can and should be taken a bit more seriously.</p>\n<h3>Shifting Away From Traditional Currency</h3>\n<p>Al-Naji and the Basis team believe they can actually replace fiat currency for every day purchases of goods and services. He has recently stated,</p>\n<blockquote><em>“I think the fact that the value is stable and not expected to appreciate really solves almost a perverse incentive with spending it that makes it much more useful as a medium of exchange.”</em></blockquote>\n<p>Indeed, the large swings in Bitcoin and other tokens often dissuade users from utilizing them as actual currencies for making transactions. Basis can solve this problem and become a pioneer for mainstream crypto adoption as a regular mean of exchange for goods and services for the first time. If this is accomplished, it would be a savior for many coins that have great, real world use cases, yet are struggling due to the lack of mass adoption they covet.The team behind the token truly believe a coin can be created to emulate and accomplish the same goals as the Federal Reserve. According to their <a href=\"https://medium.com/basis-blog/introducing-basis-a-stable-cryptocurrency-with-an-algorithmic-central-bank-7a795393a525\">Basis blog</a>,</p>\n<blockquote><em>“Central banks apply monetary policy to mitigate currency volatility. Until now, there’s been no way to create a cryptocurrency with comparable benefits. And no way for cryptocurrencies to become true currencies.”</em></blockquote>\n<p>With a coin that does not have the looming threat of major volatility that Bitcoin and others coins have, or the delayed, often inaccurate monetary needed adjustments that are implemented by the Fed a handful of times a year at most, we may have a currency that meets the standard of what we hope a currency can be. Even if it does not become a household name or a commonly used coin for real-world transactions, Basis can at least accomplish the task of raising the bar for the Fed and forcing them to improve upon the policies they currently have in place. When even a small percentage of people are aware of better alternatives like Basis and other stablecoins, central banks will wake up and rise to the occasion with the threat of having their monopolization on monetary policy usurped from them.</p>\n<p><em><strong>Read more about cryptocurrency and find out how to successfully trade at:</strong></em><a href=\"https://samsa.ai/\"><em><strong>https://samsa.ai</strong></em></a></p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em></p>\n</html>",
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      "body": "<html>\n<p><strong>Manipulating Cryptocurrency</strong></p>\n<p>Market manipulation, according to Investopedia, is defined as:</p>\n<blockquote><em>“The act of artificially inflating or deflating the price of a security or otherwise influencing the behavior of the market for personal gain.”</em></blockquote>\n<p>Do we see this type of artificial movement happen often in the cryptocurrency markets? You better believe it. In fact, due to the deregulated nature of both cryptocurrency and their markets, <strong>manipulation is more rampant in the cryptocurrency markets than virtually anything else you can trade</strong>. Since the value of cryptocurrencies are very sensitive to sentiment, emotion, and publicity, many are tempted to drive unnatural price movement and profit off of the loss of others. And unfortunately, many can actually succeed in doing so without any regulatory ramifications.</p>\n<p><img src=\"https://cryptocurrencynews.com/wp-content/uploads/sites/3/2018/05/Bitcoin-Price-Manipulation-678x381.png\" width=\"678\" height=\"381\"/></p>\n<p>Source: <a href=\"https://cryptocurrencynews.com/bitcoin-news/bitcoin-price-manipulation\">cryptocurrencynews.com/bitcoin-news/bitcoin-price-manipulation</a></p>\n<p>Market manipulation can come in many forms, and the more it catches the rest of us off guard, the more successful it can be. For starters, <a href=\"https://anoncoin.net/Anonymity_of_cryptocurrencies/\">cryptocurrency is designed around anonymity</a>. Anyone can make buys and sells with their own fiat or crypto, and anyone can trade coins without the rest of the world blinking an eye. So why does this matter? Jesse Powell, CEO of the Kraken cryptocurrency, recently <a href=\"https://blog.kraken.com/post/1561/krakens-position-on-regulation/\">addressed the question of why his and other exchanges don’t impose more regulations:</a></p>\n<blockquote><em>“Assumptions we make about how traditional markets work don’t apply to crypto markets and therefore we need to try to remember why we imposed a specific requirement in the first place, before we unnecessarily impose it on the crypto markets.”</em></blockquote>\n<p>As of late May, the <a href=\"https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe\">US Justice Department is in the midst of a criminal probe pertaining to crypto manipulation</a>. But is there anything that can really be done? And if prices are prone to false movement and historically have been manipulated in both directions, <strong>does it really matter in the long run?</strong> Well little of the market noise may be of major interest to super long-term investors who are salivating over the potential prices of Bitcoin and Ethereum in the year 2050. But much of the trading in crypto involves investors who focus on the price of various currencies on a much shorter time scale, and the artificial volatility can very much effect their ability to remain in the space. Many of these short-term investors depend on margin investing (responsibly or not), and thanks to the massive volatility of crypto, these investments often end up getting <a href=\"https://www.investopedia.com/terms/m/margincall.asp\"><strong>margin called</strong></a>.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*iH1T3cWIHoH1UmMxV_BBhw.png\" width=\"595\" height=\"570\"/></p>\n<p>A growing Twitter account dedicated to documenting any any instance of a short seller getting manipulated on the popular crypto exchange, Bitmex.</p>\n<p>It can be difficult to gauge just how much regulation should be instilled into cryptocurrency trading, because the lack thereof is exactly why a lot of people have entered into the asset class. The crypto space needs to maintain its deregulatory nature while still minimizing the vulnerabilities of the investors. According to Gabriela Giancola at CoinJournal,</p>\n<blockquote><em>“Like everything, there are pros and cons as to why cryptocurrencies should be subject to increased scrutiny. However, too much red tape can stifle creativity and we cannot afford to let this happen to a rapidly growing industry. Regulations are here to help build the whole space. They are not against the space, but part of the solution to create a long-term blockchain and crypto space.”</em></blockquote>\n<h3>Manipulative Tactics</h3>\n<p>So many of us have heard accusations of market manipulation in one form or another in investing, but how does one (or many) actually skew a cryptocurrency industry with a currently $300 billion market cap in their favor? There are several “techniques” and “strategies” that can and have been used to shift the value of Bitcoin and others in unnatural directions <a href=\"https://theconversation.com/by-concealing-identities-cryptocurrencies-fuel-cybercrime-82282\">without any recourse due to inconspicuousness of trades</a>:</p>\n<ul>\n  <li><strong>Wash Trading</strong> — buying and selling with one’s own funds with themselves in order to create the perception that there is more market activity than is actually occuring</li>\n  <li><strong>Pump and Dumps</strong> — artificially buying an excessive amount of a coin, usually in groups to gather capital, and selling for profit to unsuspecting traders</li>\n  <li><strong>Dark Pool Trading — </strong>large capital investors trading with one another outside of standard exchanges in order to avoid <a href=\"https://www.investopedia.com/terms/s/slippage.asp\">slippage</a>.</li>\n  <li><strong>Shilling — </strong>Artificially generating false hype and excitement for a coin, generally for personal gain or an exchange of payment from another party</li>\n  <li><strong>Whale Trades — </strong>Using tools like <a href=\"https://www.investopedia.com/news/buy-and-sell-walls-cryptocurrencies-bitcoin-ethereum-ether-ripple/\">buy and sell walls</a>, traders with larger capital than most are able to push prices in the direction they favor, or alternatively prevent prices straying away from where they prefer</li>\n</ul>\n<p>When we take an overall look at the entire overall historic value of Bitcoin, the largest cryptocurrency in terms of both volume and market capital, what kinds of things do we notice? Do these day to day and week to week pumps translate to an overall aggregate pump and dump of the entire coin? The price clearly has gone through some major volatility and grown exponentially, particularly in 2017, before crashing over 70% in the first half of 2018. Can we be certain that a crash of this magnitude is just a healthy correction, or could this be calculated price manipulation being made by whales, pump and dump groups, or governments? (looking at you, North Korea)The reality is that the price of Bitcoin, under healthy growth conditions, would probably never have rocketed from <strong>a low of below $780 to a high of above $19,700 in one calendar year</strong> if not for external factors manipulating its price. Yes, this really was the range of Bitcoin’s value in 2017, and those who owned it throughout the year likely went through some serious peaks and valleys of emotion, just like BTC’s worth. Despite the fact that there is no real intrinsic value to cryptocurrency (yet), there can still be a healthy growth rate it could thrive under as more and more of the world adopts it and wants to obtain it.To get into specific and direct market manipulation tactics, one example I referenced is a “strategy” known as wash trading. The basic concept is to create buys and sells simultaneously on exchanges to give the illusion that there is a higher volume in a given time period than their actually is. As a result, unknowing investors are given the impression that volume is picking up, perhaps after a long dormant period, and ended up buying or selling their own coins under false pretense.Pump and dump groups are another form of market manipulation. Though they are not exclusive to the crypto world, there are less legal downsides within the specific crypto space, and more market impact to capitalize on. This is why the crypto markets are so ripe with these groups. Pump and dumps are organized groups of people on a mission together to buy large quantities of one particular coin simultaneously in order to push up the price of it in a very short timeframe.</p>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*41kMmGiVUiYQ0xTNlbXAkg.png\" width=\"622\" height=\"262\"/></p>\n<p>Source: <a href=\"https://microcapclub.com/2014/12/hard-mailer-pump-and-dump-performance-part-10/\">microcapclub.com/2014/12/hard-mailer-pump-and-dump-performance-part-10/</a></p>\n<p>As a result of the rapid price jump of the pumps, the hope is that other unsuspecting investors will see the movement and begin to purchase these coins and “<strong>jump on the ride to moonsville”</strong> just as this same group begins dumping their artificially inflated coins to the unknowing traders who find themselves holding near-empty bags in the end. These groups are organizing on a daily basis to make these trades, and ironically, most of the individuals in these pump and dump groups tend to lose money themselves, simply under the guise that they “sold too late” after being part of the initial pump. In reality, only the organizers and second tier members of the group benefit because they set the timings of the buys and are generally the first to sell while their own members are still in buy mode.</p>\n<h3>That’s Just the Way it is… For&nbsp;Now</h3>\n<p>There is really only one true way the price of Bitcoin could inflate over 2,500% times its value in under a year, then be followed by a deflation of 70% in just a month and a half. Without any semblance of market manipulation being a major factor, this is just unrealistic without some premeditation. If something was fundamentally altered in the value of the asset, there could be a case made for drastic highs and lows in a currency most consider to still be in its infancy.<strong>However, Bitcoin’s potential and ability to change the world is the same now as it was back in 2011, when the value had brief parity with the price of one US dollar.</strong>Now it sits at 7,000 times the value of the US dollar. There is simply more consciousness and awareness of the blockchain’s existence, more Bitcoins available to cycle from one hand to another, more diversification in types of coins available, and more excitement and optimism in regard to its future ability to change the world and currency as we know it.So with the understanding that Bitcoin’s value should be growing in a more linear fashion than it has up to this point, there are quite a few reasons why it has yet to receive the stability that could bring in more conservative investors:</p>\n<ul>\n  <li><strong>The amount of good and bad press cryptocurrency gets directly correlates to the market’s perception of it</strong>. And in an asset class where value is completely based on market perception, you can sure bet that media has an impact. Would this be considered market manipulation? Absolutely. Whether media outlets intend to bring up or push down prices is debatable, but their discussions of the latest Bitcoin swing absolutely has market consequences. There is no doubt that a breaking news story on CNBC about Kim Jong Un’s latest Bitcoin heist is going to rock the markets. More importantly, when the <a href=\"https://www.cnbc.com/video/2018/03/07/ripple-ceo-brad-garlinghouse-on-fast-money.html\">CEO of Ripple is brought on to “Fast Money”</a>for the 5th time in a year, this directly props up individual coins, often at the expense of other coins that are deserving of the attention.</li>\n  <li><strong>Bitcoin and other coins generally have constantly changing viewpoints in their perceived values, and a lot of it depends on where its price currently sits.</strong> As actual means of transferring value from person to person, cryptocurrency is built to be an incredible phenomenon that can change the world in this regard. But when it comes to an actual store of value, there is a <a href=\"https://hackernoon.com/bitcoin-store-of-value-is-a-useless-use-case-f786b2ddbb25\">strong case that can be made against the viability of it</a>. Matt Ward at Hackernoon argues,</li>\n</ul>\n<blockquote><em>“There is literally no reason to have a “store of value.” In a scenario where one (or more) cryptocurrencies become actual currencies, ie begin being used for commerce and penetrate the mass market, there has to be relatively stable pricing. When supply and demand are relatively consistent, prices hardly fluctuate.”</em></blockquote>\n<ul>\n  <li><strong>Security concerns are a major hurdle holding back cryptocurrency from stabilizing as well.</strong> We see all sorts of stories of new hacks of individual wallets or cryptocurrency exchanges on a fairly regular basis. The truth is that there are a lot of people who want to simply purchase Bitcoin and hold it safely somewhere, but don’t want to hold it in a wallet they don’t understand or on an exchange that is <a href=\"https://hackernoon.com/crypto-exchanges-are-not-your-banks-95c336f6b747\">unregulated and not FDIC insured</a>.</li>\n</ul>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*SVgg8GSuFeyfNdSlX9vAzA.jpeg\" width=\"1600\" height=\"1077\"/></p>\n<p>Yes, the wild, wild west of crypto markets is still very much in effect in 2018. Percentage swings can happen in coin values in a day that would <strong>take the S&amp;P a month or even a year to replicate</strong>. And until cryptocurrency is more widely adopted and investments become more liquid, they will still be very susceptible to manipulated prices from individual buys and sells that may even have a ton of dollar value behind them.This, along with having some general sanity, are the reasons that I personally have never invested more than I could afford to lose. Sweating the massive daily swings of a sector that isn’t regulated is not something I will ever want to put 80% of my life savings on, despite the fact that I am confident that blockchain technology will change the world one day. It requires a very strong will to stay sane investing in anything this volatile and blatantly pulled in premeditated directions every minute. I simply ask my readers to research how Bitcoin and other altcoins with particular use cases can eventually impact the world, and as hard as it is, try to avoid the noise and instability of prices. One must stay strong in their belief that coin prices will coincide with the true value they should reach with all of the potential in cryptocurrency, no matter how wobbly their path is to get there.</p>\n<p><em><strong>I write in depth cryptocurrency analysis at Samsa, the passive investing tool for crypto. See what we’re doing at</strong></em> <a href=\"http://samsa.ai/?utm_medium=partner&amp;utm_source=medium&amp;utm_campaign=manipulative+markets+and+how+to+manage&amp;utm_content=hackernoon\"><em><strong>Samsa.ai</strong></em></a> <em><strong>and see our other analysis at</strong></em> <a href=\"https://medium...m_content%3Dall/\"><em><strong>our magazine</strong></em></a><em><strong>. If you love what you see, give this article 50 claps! If you hate it, show your displeasure with 49.</strong></em></p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em></p>\n</html>",
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      "body": "<html>\n<h1>Stablecoins — Carrying the Way to the Crypto Promised Land</h1>\n<h2><strong>What are Stablecoins?</strong></h2>\n<p>In cryptocurrency, most avid traders prefer having an option for stability to trade out of their volatile holdings while still maintaining decentralized assets that avoid the need to exchange into Fiat currency. We traders sometimes need a period of rest for our crypto portfolios to not have the potential to significantly increase or decrease in value. This is exactly what the appropriately named stablecoins allow us to accomplish.</p>\n<p>These crypto tokens are designed to peg their values closely to the value of various currencies, such as the ever popular dollar, at an approximate 1:1 ratio. By doing so, cryptocurrency traders are able to use them as a means of exchange in order to essentially liquidate their other volatile cryptocurrencies. Doing so negates the risk of major price fluctuations in their portfolios.</p>\n<p><img src=\"https://www.dropbox.com/s/uc2n5pgs1df2oeb/SAMSATECH_SCALE_REV%202%20Cropped.jpg?dl=0\"/><img src=\"https://s22.postimg.cc/ddng3wrip/SAMSATECH_SCALE_REV_2_Cropped.jpg\" width=\"1063\" height=\"800\"/></p>\n<p>The availability of stablecoins is still just two and a half years old, and the power that they hold are entirely up to the markets. But, According to Phil Glazer at Bitwise Asset Management, he believes that as time goes on, a successful cryptocurrency that has a fixed price relative to our main Fiat currencies will have a major positive effect on cryptocurrency as a whole. He states,</p>\n<blockquote><em>“A fixed price cryptocurrency would enable a greater number of use cases than current cryptocurrencies allow. At the moment, cryptocurrencies are primarily held by investors and speculators seeking to profit from price appreciation. Few people hold and use cryptocurrencies like they would US dollars (receiving a salary, paying for groceries, etc.) because prices fluctuate significantly day-to-day.”</em></blockquote>\n<p>In the current landscape of cryptocurrency exchanges, only a select number of cryptoassets can be exchanged for currently tradeable stablecoins. Trading pairs involving stablecoins are some of the most heavily exchanged. In fact, the combination of trading USDT (aka Tether, which I’ll talk about more later in this piece) for Bitcoin is currently the most popular trading pair among exchanges where this pair is offered.</p>\n<p>Why is USDT so highly exchanged when its value intentionally doesn’t garner a profit or loss? Well, stablecoins are, by design, not the roller coaster ride in value the way most other cryptocurrencies are, and that is precisely what gives them appeal. If you are riding recent highs in Bitcoin and decide it’s time to sell off a portion of them temporarily, Tether allows you to do so at Bitcoin’s market price. If BTC loses 15% of its value relative to the dollar the following day, your holdings that were converted to Tether did not actually lose any value.</p>\n<p><em><strong>Tether and other stablecoins allow you to essentially “sit out” from the market highs and lows any time you please, and be comfortable knowing those coins do not change in value relative to the dollar.</strong></em></p>\n<p>The existence of stablecoins on exchanges allows traders to cycle in and out of positions in Bitcoin and other volatile coins with ease while keeping their holdings out of the centralized bank systems. Swapping heavily volatile coins like Bitcoin for the least volatile coins available (stablecoins) on an exchange any time the trader so chooses is a huge advantage for anyone looking to de-risk and protect their portfolio values for any given timeframe. Investors and traders need stability in their own holdings on and off in order to counter the large spikes in crypto market volatility that occurs on both short-term and long-term time scales. They also need a quick way to exit and enter their positions when major news occurs and prices may react at a moment’s notice.</p>\n<p><img src=\"https://s22.postimg.cc/3udra26gx/Dollar_Bitcoin.jpg\" width=\"1066\" height=\"800\"/></p>\n<p>But why can’t we simply convert any of our cryptocurrency holdings to actual US dollars at the drop of a hat? Why do we even need a specialized stable token designed to replicate the true value of the US dollar around the clock? We already have something that is easily used for exchanging goods and services, both in person and on the internet. It’s called the dollar. And additionally, traditional stocks and equities can be bought and sold using USD in just about every online brokerage out there. However, there are a couple reasons that stablecoins are alternatively offered by most exchanges:</p>\n<ul>\n  <li>There are no money transmission laws applicable to sending cryptocurrency from one location to another. The same cannot be said about the dollar.</li>\n  <li>The overwhelming majority of altcoins simply do not have the volume and following yet for exchanges to justify offering direct fiat buying and selling. But remember that the keyword is “yet”.</li>\n  <li>From a global perspective, there are many countries experiencing hyperinflation that have crypto traders looking for ways to easily exchange their holdings for something pegged to the value of the US dollar. In countries like Nigeria or Egypt, the volatility of their country-based currencies far outweigh the dollar, making Tether a convenient, easy, and uncomplicated option to trade for and convert their own volatile currencies into.</li>\n</ul>\n<h2>The Not so Stable History of Crypto’s Top Stablecoin</h2>\n<p>The often notorious and polarizing Tether coin (USDT) has been around and circulated through cryptocurrency exchanges and wallets around the globe since early 2016. The questionable aspect to the world’s currently most traded stablecoin lies with their concerningly underwhelming track record regarding their transparency of their fund backing. <em><strong>The coin’s team claims that each USDT coin is backed by a dollar of hard currency reserves</strong></em>. However, only grainy, highly questioned evidence has been provided to disprove the notion that they do not have all of their tokens backed by real dollars. Bringing forth evidence of hard USD currency backing through periodic audits of the company would alleviate concerns and instill confidence in traders’ minds.</p>\n<p><img src=\"https://s22.postimg.cc/bzvt8czwh/Tether_Bank.jpg\" width=\"1200\" height=\"800\"/></p>\n<p>Frequent inquiries for proof of this claim have been met with mostly radio silence from the Tether team. As of June 1, 2018, the stablecoin had a market cap of an astonishing $2.55 billion. Shortly after this date, a <a href=\"https://tether.to/fss-report-transparency-update/\">transparency report was released</a> with the backing of law firm Freeh Sporkin &amp; Sullivan LLP that unofficially stated that their investigation found Tether to have the fund backing they claimed. The company was supposedly investigated by the law firm without warning, and it was announced that Tether’s bank account records exceeded its June 1st market cap by $7 million, thus indicating that it has full backing of its market supply of tokens. However, the vagueness and lack of many specific details of this report only temporarily silenced critics.</p>\n<p>A week prior to the time of this writing, Bloomberg conducted an <a href=\"https://www.bloomberg.com/graphics/2018-tether-kraken-trades/\">investigative report</a> that heavily questioned Tether’s transparency report. In it, they noted that the popular cryptocurrency exchange, Kraken, has been the host to numerous suspicious Tether trades, many of which are indicative signs of blatant market manipulation. Wash trading and very specific trade amounts have been triggered and met with almost no temporary price movements in the overall value of Tether. It is unclear whether there are people associated with Tether or the exchange who have anything to do with these market manipulation tactics, but it seems as though Tether at least would have knowledge of these trades based on the lack of price movement to numbers that would normally move the value of their coin considerably.</p>\n<p>Wash trading is the act of both buying and selling a coin simultaneously in order to mislead traders into assuming false information about a specific coin or entire market. Many suspect that these peculiar trades have occurred on the exchange without proper price movement. As a result of these scandals and several others involving the largest stablecoin, red flags are up, and Tether remains controversial as a legitimate stablecoin.</p>\n<p>Yes, as I stated earlier in this article, stablecoins are designed to not have significant price movement. <em><strong>However, several who have looked into the matter have concluded that</strong></em> <a href=\"https://www.coindesk.com/tether-on-strings-crypto-debates-fresh-round-of-manipulation-claims/\"><em><strong>these significant trades should be at least temporarily moving the price of Tether to around $1.10</strong></em></a><em><strong>,</strong></em> which would cause Tether to issue more coins into circulation and inevitably bring their value back to the intended $1.00. Instead, the price has only seemed to range from approximately $0.99 to $1.01, causing analysts to question if these orders are actually real or just showing up in order books to create false impressions of heavy market demand.</p>\n<p>In addition, the Bloomberg report referenced a passage by University of Texas professor John Griffin, who said that there are some very specific orders that are “suggestive of wash trading”.</p>\n<p>On top of all the confusion surrounding this so-called transparency report and the abundance of polarizing opinions it received, there had already been a $33 million hack of Tether coins in November, 2017. This opened doors to questions regarding the safety, vulnerabilities, and susceptibility to future security breaches of a coin that ironically is intended to instill a sense of calm in surrounding heavily fluctuating markets.</p>\n<p>Despite the lack of fund backed evidence, which would be a major concern in virtually any other investable sector in the world, Tether is still a highly owned token constantly being exchanged throughout the cryptocurrency world. Not only that, but many are unaware that US Tether (USDT) is currently the <a href=\"https://www.newsbtc.com/2018/06/24/tether-3-billion-daily-volume-76-higher-ethereum-bad-market-condition/\">second most traded cryptocurrency</a> behind only Bitcoin. Stablecoins can also be used as helpful market indicators regarding the overall sentiment of the market based on how they are being traded. According to Joseph Young, an analyst at News BTC,</p>\n<blockquote><em>“The daily trading volume of USDT can be considered as a direct representation of the volatility in the cryptocurrency market; if the volume of Tether is abnormally large in a downward trend, it signifies that traders are selling cryptocurrencies to USDT, and if the volume of Tether is unusually large in a bull market, it demonstrates that traders are selling their USDT reserves to acquire more cryptocurrencies.”</em></blockquote>\n<p><img src=\"https://s22.postimg.cc/4wnxsuhn5/Exchange_Data.jpg\" width=\"1200\" height=\"800\"/></p>\n<h2><strong>Available Stablecoin Options</strong></h2>\n<p>Lately, many exchanges have been following Coinbase’s footsteps and slowly implementing USD trading for top traded coins like Bitcoin and Ethereum. But trading into centralized Fiat currencies is not exactly a great option if you are a believer in decentralized currency as the future. These fiat-pegged stablecoins I will be listing below are intended to be a convenience for users to exchange, not a burden that traders should feel forced into as an alternative to US dollars. There are three main types of stablecoins that currently are available for traders to get their hands on:</p>\n<ul>\n  <li><strong>Fiat collateralized coins</strong> are coins that have a central entity that holds the equivalent amount of currency they intend to represent in currency. These fund-backed tokens are expected to be based on the reserve of fiat currency that allows them to place the appropriate 1:1 ratio between the value of a single token and a single dollar. Examples of these coins are:</li>\n  <li><em><strong>Tether (USDT)</strong></em>, the leading stablecoin which I have already discussed in depth, has been circulating on exchanges since early 2016. Originally known as Realcoin, it is currently the largest asset backed token that acts as a link between crypto and fiat. Due to security and liquidity issues regarding their dollar reserves, external audit intentions by the company that so far have yet to exist, and a theft of $31 million USDT in November 2017 that caused a temporary cease of trading, their reputation has taken a minor, but not yet devastating hit.</li>\n  <li><em><strong>True USD (TUSD)</strong></em> is a relatively new fiat collateralized option for investors that is already available on several exchanges. They have capitalized on the controversy surrounding USDT, and they attempt to address particulars that people worry about with Tether, such as transparency of assets through daily proof of bank account information and monthly audits. TUSD was created with the intention of solving a few use cases, such as financial services and online commerce. They ideally see themselves as a replacement for USD on crypto exchanges. And for what it’s worth, the tokens run on the Ethereum blockchain as opposed to Tether’s Bitcoin blockchain.</li>\n</ul>\n<p><br></p>\n<ul>\n  <li><strong>Cryptocurrency collateralized stablecoins</strong> are the decentralized answer to fiat collateralized coins. Instead of being backed by Fiat currency, these coins are backed by actual cryptocurrency, such as Bitcoin or Ethereum and the use of smart contracts:</li>\n  <li><em><strong>Maker Dao</strong></em> <em>(DAI)</em> has some similarities to Tether and other stable coins, such as their soft-pegged price to a US dollar, non-minable nature, and collateral-backed asset type. However, instead of being backed by fiat US dollars, DAI uses overcollateralized Ethereum smart contracts. It is also issued on the Ethereum blockchain, as opposed to the Bitcoin blockchain. Their use case intends to lend toward four markets:\n    <ul>\n      <li>Gambling markets</li>\n      <li>Financial markets</li>\n      <li>International trade</li>\n      <li>Transparent accounting systems</li>\n    </ul>\n  </li>\n  <li><em><strong>BitUSD (BITUSD)</strong></em> is an interesting price-stable cryptocurrency, as it is backed by the BitShares core currency, BTS. Traders have the ability to convert them to an exchange rate that is dependent on their “trustworthy price feed” that is based on the median of several sources which are updated hourly. An intriguing claim by BITUSD is that their token is always expected to be worth at least $1.00, which would imply that the coin has the ability to be worth at least one US dollar at all times, but never less. We have already seen USDT and TUSD have a value below one dollar, so this would be a very valuable aspect of a stablecoin. However, keep in mind that they are used exclusively to buy BitShares, making converting to Fiat more tedious than alternative options.</li>\n</ul>\n<p><br></p>\n<ul>\n  <li><strong>Non-collateralized stablecoins</strong> are interesting in the fact that there is no collateral backing associated with these types of coins. These coins usually implement an algorithm or some form of an expanding and contracting supply of its own value, which is based on the price and demand of it by traders.</li>\n  <li><em><strong>Basis</strong></em> is an upcoming non-collateralized stablecoin that algorithmically adjusts its own supply based on the demand it is receiving in order to accurately peg itself to the value of a dollar without any need for a fiat or crypto backing. I will be releasing a feature article on this coin shortly as it gets closer to its public availability. Many consider the idea of it to be revolutionary to the crypto world, and if successful, could become an actual threat to the Federal Reserve and its centralized monetary policy.</li>\n  <li><em><strong>Haven (XHV)</strong></em>, which claims to be untraceable, is a fork of the popular privacy coin, Monero (XMR). The coin works by implementing a “mint and burn” system which takes a transaction from a user’s wallet that they trigger, and sends it to a smart contract that in turn retains the Haven’s value at the moment of transaction. This balance stays on the blockchain, and is impossible to track back to the person making the transaction. By using this unique method, XHV’s use case allows users to send funds to offshore storage contract, while simultaneously being able to retain blockchain fund value to give the user the ability to trade their Haven and respond to market fluctuations.</li>\n</ul>\n<p><br>\nIn addition to the several tokens I have named, there are also several other stablecoins that are expected to be made readily available for cryptocurrency traders in the near future, including Kowala, Augmint, and Carbon. With several existing, emerging, and soon to be planned options in the stablecoin landscape, traders and investors have some options moving forward in how to prevent portions of their crypto portfolios from violently fluctuating. If stablecoins are able to accomplish what is expected and required of them (maintaining stability in an extremely volatile sector) without doubts in their validity, their existence will be a major boon for cryptocurrency.</p>\n<p>Mass adoption of crypto in general will be an extreme uphill battle without these safe, reliable stablecoins for traders to buy and sell in and out of when waters get choppy. The currency-pegged tokens will open wide doors for Bitcoin, Ethereum, and other top coins if they are able to scale to a global audience. Chrisjan Pauw, an author at Cointelegraph, states,</p>\n<blockquote><em>“For truly decentralized stablecoins to work, there must also be a system in place that can reliably obtain the exchange rate between the stablecoin and the pegged asset, without leaning on third-party institutions that can be manipulated.”</em></blockquote>\n<p>This is precisely what we need from a stablecoin to lift up all of cryptocurrency, and we will see in the months and years to come how well these coins can execute the goals that they set out to accomplish.</p>\n<p><em><strong>Read more about cryptocurrency and find out how to successfully trade at:</strong></em><a href=\"https://samsa2.samsa.ai/markets/\"><em><strong>https://samsa2.samsa.ai/</strong></em></a></p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em></p>\n</html>",
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      "body": "**Ru**\nПриветствую. Представляю студию блокчейн-копирайтинга. Предлагаю наши услуги по написанию WhitePaper, созданию видеороликов , написанию уникальных статей и обзоров (в том числе для steemit), переводов.  Огромный опыт и большой штат сотрудников. Списко наших услуг и портфолио в нашем [телеграм канале]( @contentmakerstudio) или на [сайте](http://contentmaker.studio).\n**En**\nHello everyone! I present to you our blockchain copywriting studio. We propose to you next services: writing WhitePaper, creating videos, , translations, writing unique articles and reviews (Including for steemit). Extensive experience and highly qualified team. List of services and portforlio in our [telegram channel](@contentmakerstudio) or on our [website](http://contentmaker.studio).",
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      "body": "@@ -592,32 +592,18 @@\n %0A%3Cp%3E\n-!%5BMagnifying Glass.png%5D(\n+%3Cimg src=%22\n http\n@@ -694,25 +694,52 @@\n %2520Glass.png\n-)\n+%22 width=%22436%22 height=%22294%22/%3E\n %3C/p%3E%0A%3Ch2%3EHow\n@@ -3067,38 +3067,18 @@\n %0A%3Cp%3E\n-!%5Bsamsa-equation cropped.png%5D(\n+%3Cimg src=%22\n http\n@@ -3175,25 +3175,53 @@\n 0cropped.png\n-)\n+%22 width=%221280%22 height=%22478%22/%3E\n %3C/p%3E%0A%3Cp%3EThis\n@@ -6516,34 +6516,18 @@\n %0A%3Cp%3E\n-!%5BNew NVT Graph zoom.png%5D(\n+%3Cimg src=%22\n http\n@@ -6624,25 +6624,52 @@\n h%2520zoom.png\n-)\n+%22 width=%22998%22 height=%22560%22/%3E\n %3C/p%3E%0A%3Cp%3EWhen\n@@ -9565,34 +9565,18 @@\n %0A%3Cp%3E\n-!%5Bsamsa-cars cropped.png%5D(\n+%3Cimg src=%22\n http\n@@ -9673,17 +9673,46 @@\n pped.png\n-)\n+%22 width=%221280%22 height=%221016%22/%3E\n %3C/p%3E%0A%3Ch2\n",
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      "body": "<html>\n<h1>Network Value to Transactions Ratio — Cryptocurrency’s Answer to&nbsp;P/E</h1>\n<p>Have you ever wondered how to actually measure the true value of Bitcoin? Wouldn’t it be useful information to know that Ethereum is currently under-priced and potentially about to skyrocket in value? Perhaps you are looking to sell a handful of Ripple for Bitcoin, but don’t know if it’s the right time yet. In traditional finance, there are established tools to provide insight into making these decisions in traditional stocks, but those same tools don’t typically relate or apply to crypto.</p>\n<p>![Magnifying Glass.png](https://cdn.steemitimages.com/DQmVnVQ8iMRwMBTCXqE4oC7LQj673zgQt1hLEBADD9Hg2Gd/Magnifying%20Glass.png)</p>\n<h2>How NVT Works as a Valuation Metric</h2>\n<p>The Network Value to Transactions Ratio, or “NVT”, provides us with insight into how to assign fair value to coins in an industry where doing so can be tediously difficult, if not impossible. It is one of the key measures that analysts and proactive investors are currently using to gauge and appropriately value cryptoassets. Willy Woo, the creator of this insightful metric, has some fascinating insight into the importance of NVT as a primary ratio to follow in cryptocurrency on his <a href=\"https://woobull.com/nvt-signal-a-new-trading-indicator-to-pick-tops-and-bottoms/\"><strong>site</strong></a>. He goes on to say:</p>\n<blockquote><em>“When Bitcoin’s NVT is high, it indicates that its network valuation is outstripping the value being transmitted on its payment network. This can happen when the network is high growth and investors are valuing it as a high return investment, or alternatively when the price is in an unsustainable bubble.”</em></blockquote>\n<p>NVT is a way to equivalently compare unknown intrinsic values of cryptocurrencies. When we look at how the NVT line relates to its normal range, we can gauge when Bitcoin is becoming overvalued or undervalued. In an <a href=\"https://www.norupp.com/willy-woo-interview-the-nvt-ratio-and-future-of-cryptocurrencies/\">interview</a> a year ago, Woo said:</p>\n<blockquote><em>“We didn’t know how to value internet stocks in the 1990’s. P/E ratios were through the roof and people didn’t understand zero marginal cost of companies.&nbsp;…In Bitcoin, we know the transaction throughput, but we don’t know its earnings as it is not a company. It’s the closest proxy we have to it. That’s all it is really. If Bitcoin was a payment company, let’s measure how much throughput it has, to its valuation.”</em></blockquote>\n<p>Most successful traditional stock investors are familiar with the Price-Earnings (P/E) ratio. Put simply, by dividing a company’s current market price by its current earnings per share, the P/E ratio allows investors to gauge a stock’s growth potential. More importantly, it can provide insight into whether a company is undervalued, fairly valued, or overvalued based on its current market position.</p>\n<h2>How to Calculate NVT</h2>\n<p>Let’s take a look at this formula in greater detail:</p>\n<p>![samsa-equation cropped.png](https://cdn.steemitimages.com/DQmUV71UiaAffPqdGYUBC9gVwCtvAKP578UZJN5EQGXBcVn/samsa-equation%20cropped.png)</p>\n<p>This calculation is straightforward, only needs two variables to solve, and provides us with a telling number if we compare it to an individual coin’s own historic values or to other coin’s values over the same timeframe.Let’s do a quick sample with Bitcoin, using June 10, 2018 as an example. Here are some metrics from <a href=\"https://coinmetrics.io/\"><strong>Coinmetrics</strong></a>:</p>\n<ul>\n  <li><em>6/10/18 Market Cap (Network Value): $128,128,000,000</em></li>\n  <li><em>6/10/18 Transaction Volume (USD): $7,172,614,294</em></li>\n  <li><em><strong>6/10/18 NVT (Market Cap / Transaction Volume): 17.86</strong></em></li>\n</ul>\n<p>As we can see, dividing Bitcoin’s market cap value by its transaction volume for just this 24-hour period, <em><strong>we get an NVT value of 17.86.</strong></em> Wonderful.Now, let’s give that number some actual meaning. How does an NVT of 17.86 on one particular day compare to the all-time average historical NVT ratio of Bitcoin? Note — this data begins with its first full month of data in May 2013:</p>\n<ul>\n  <li><em>Median Historical Market Cap (Network Value): $7,329,110,000</em></li>\n  <li><em>Median Historical Transaction Volume (USD): $666,703,284</em></li>\n  <li><em><strong>Median NVT (Market Cap / Transaction Volume): 13.70*</strong></em></li>\n</ul>\n<p><em><strong>*</strong></em> <em>Note that for the most precise statistical evaluation, the average NVT is being calculated as the median value among roughly six years worth of Bitcoin data.</em>We can see that the overall median NVT for all individual Bitcoin daily data from CoinMetrics is roughly 13.70, which makes the 17.86 NVT value we found in our calculation for June 10, 2018 a moderate 30.4% above its average historical rate.</p>\n<h2>How to Interpret NVT</h2>\n<p>If we are looking to buy, we would want to see a higher transaction volume compared to market cap, as this would indicate there is a convincingly significant amount of utility (transactions) currently being used in the world.With our Bitcoin example, we can see that June 10th did not have the transaction volume we would want to see with the current market cap levels. Therefore, this value would be an indicator that the price of $7,499.55 was overvalued. Remember, this was only one specific day, and these numbers can vary drastically on a day to day basis compared to daily price shifts.It is worth mentioning that, here at Samsa, we are getting our statistics from CoinMetrics, which has a disclaimer on their website’s <a href=\"https://coinmetrics.io/faq/\">FAQ</a>:</p>\n<blockquote><em>“…other estimates of NVT are done only for Bitcoin, and use blockchain.info’s estimate volume, other than very straightforward exclusions. Thus Blockchain.info has an estimate of USD volume transmitted on chain that’s 5–6 times lower than ours, resulting in a higher NVT.”</em></blockquote>\n<p>It is worth taking note of this delta, as Woo’s website will often have Bitcoin NVT values averaging triple digits, while Samsa’s calculations are significantly lower. Either data source is acceptable, and proportionally the lines over time in either analysis should ebb and flow similarly.Let’s look at a visualization of our monthly NVT data from Coinmetrics and see how Bitcoin’s price has correlated along with it:</p>\n<p>![New NVT Graph zoom.png](https://cdn.steemitimages.com/DQmeBXhuimASG57zAR3qcbm5ffQBL3YFeK8WSN1aUArdFVu/New%20NVT%20Graph%20zoom.png)</p>\n<p>When creating this model for Bitcoin, there were plenty of things I had to factor in during the process of putting it together, as well as plenty of things I noticed after it was completed:</p>\n<ul>\n  <li>The respective buy, hold, and sell zones were formulated based on history combined with some math. Keep in mind these color groupings are only applicable to the orange NVT line corresponding to the right y-axis on the chart. The zones are all based around the median historic NVT value for Bitcoin, which as we learned above, currently sits at about 13.7. I knew that I would want to symmetrically make the hold zone slightly above and slightly below this number by the same percentage basis on both sides. I was also able to notice trends via this time scale indicating almost no price movement whenever the orange line fell within 7.5% above or below this median value of 13.7. This gave me a range of about 15% for the yellow hold zone, and the same 15% window was used to create the other zones.</li>\n  <li>I originally considered magnifying plot points to scale daily, but there are too many outlier NVT spikes that don’t correlate with price. Instead, I decided to use the mean average for every month as plot points, and we can see some VERY significant and statistically meaningful movement of Bitcoin’s monthly price (in blue) over time in comparison to its monthly Network to Value Transaction ratio (in orange).</li>\n  <li>From an overall historic perspective, we can see that our orange NVT line is splitting a bit under half its time in either the “Buy” or “Strong Buy” zones, a bit under half the time in the “Sell” or “Strong Sell” zones, and the remainder of time in the hold zone. But how could there be an equal number of buy and sell signals from the all-time NVT chart if Bitcoin has gone up 60 times its value since May of 2013? Well, this is the beauty of Bitcoin and cryptocurrency as a market still in its infancy stage. Historically, when Bitcoin’s NVT value is in the buy zones, there is historically much more upside to price movement than there is downside when in the sell zones. For skeptics of NVT, an argument could be made that this is a flaw of the formula overall and shows NVT as unreliable and unpredictable when it is well above its median average. Admittedly, there is much less consistent correlation compared to the large price leaps that strongly correlate whenever the chart is in a buy zone.</li>\n  <li>We can see that when Bitcoin’s price exploded in mid-late 2013, this correlated with its NVT dipping into the green buy zones for the first time. We can see this confirmed again on a larger scale when NVT again went into the green beginning in September of 2015 and lasting all the way until December of 2017. This 28 month stretch of Bitcoin’s NVT range providing buy signals saw its price shoot from below $250 to above $19,000.</li>\n</ul>\n<p>![samsa-cars cropped.png](https://cdn.steemitimages.com/DQmbL8GdVyGqLsBUNJNUKh7rGRCa84WbhVVSmza12vzVnJT/samsa-cars%20cropped.png)</p>\n<h2>Advantages To Using&nbsp;NVT</h2>\n<p>There is no perfect solution to accurately value cryptoassets that have no real company representation, balance sheets, or quarterly earnings reports. However, there are a couple reasons for using NVT as a metric:</p>\n<ul>\n  <li>NVT can be a good indicator of relative value compared to other coins and individual coin historical price based on their averages over time.</li>\n  <li>NVT can be calculated for most popularly traded coins, as those coins have their own historical market caps and number of transactions recorded.</li>\n</ul>\n<h2>Don’t Forget — It Is Still&nbsp;Crypto</h2>\n<p>Of course, there are several pieces of news over the years that have historically contributed to the monthly rises and falls of Bitcoin’s price. And no matter how much we here at <a href=\"http://samsa.ai/\">Samsa</a> love the Network Value to Transactions ratio, it is not the sole metric of value. There will be occasions where NVT will completely fail as a reliable indicator for a coin’s price, particularly on a short-term timeframe.Because cryptocurrency’s value is so heavily influenced by human speculation, it can be extremely difficult to rely on a mathematical ratio to predict a price line that is essentially controlled exclusively by its investors. Anyone who depends solely on the NVT ratio, MACD and RSI indicators, Bollinger Band signals, or any other individual metric as a sole indicator for price direction without understanding the risk involved or weighing other fundamental factors, has a high likelihood of eventually failing as a trader.We view NVT as a very useful supplementary research aid when investing. The metric is not an end-all, be-all key to easily buy low and sell high for easy profits, but we’ve seen evidence that the NVT line has preceded many major market price shifts in both directions. And when we see evidence of a ratio that, more often than not, has a strong long-term correlation to price and often foreshadows the direction of future price (on a long-term basis), it is a fundamental metric worth not only understanding, but paying serious attention to.</p>\n<p><em>This article and related content is for informational purposes only. It should not be considered investment advice, and you should consult a financial advisor and do your own research and due diligence prior to making any investments. Where securities or commodities are referenced, it is only for illustrative purposes only, and does not imply any position on securities or commodities classification. To the extent that Samsa services are offered or discussed, those services are available only for Samsa whitelisted assets only.</em></p>\n</html>",
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