Dogelon Mars [ ELON ] Coin - What's my take?

 I am a crypto fanatic, but sometimes I take the cautious step onwards. I hold some for long and some for short and mainly, it's money I can afford to throw, like going to a amusement center and indulge in my games of skills and all.

Elon Coin aka Dogelon Mars is a new coin, hyped out from DOGE and SHIBA with a current market cap of about USD900M with 1 QUADRILLION (1000 Trillion) coins issued out.

As of now, only Crypto.com is the only place selling and trading them, with a vague price of about 1 Euro to 1 Million Elon. There has no proper confirmation that ELON MUSK endorses the coin unlike what he tweeted about SHIBA the other day. I believe this is a token fee for listing in the exchange, tradable against EURO/USD/GBP/XSGD and USDT (teethers).

It’s more or less, speculative market, with some incepting at about $0.35/Mil and mostly between $1~$3 per Million Coins

Most players are Buy,Sell,Profit Take,Rebuy,Resell Cycle and with my own mid-time inception test *(where there is currently a 35M Trade Limit) , made about 150% profit on a mid range and rebuying to keep to the same level of purchases.

Only way to ride this out is to ensure the big market holding, ie with the huge number of people holding the coin so it’s more tradable. 

However, I did some digging at their original contract where there are are some nasty comments with the transactions still pending by heck of alot and by over weeks and months. The developers have been keeping quiet and I honesly feel if you can afford to lose the money, go ahead..but other than that... do your proper due diligence. 

Thats my 10 min wrap

#Doge #ELON #elonmusk #ELONCOIN #DOGELON

Of Blockchain, Crypto and Coins – The Dinosaur’s Edition

Many do not understand what is these hype all about, of Bitcoin, Ledger and stuff like that and even worse, in the 21^st century, even financial institutions are adopting the Blockchain technologies that come with it. So here is the brief run down for everyone to be up to speed.

 

Cryptography is the method of ENCRYPTING or shuffling of data into a scrambled piece of information that only the sender and receiver can understand. Something like the Nazi Germany’s Enigma machines during WW2. It contains a cipher text and a Private Key which is needed to unlock or decode the message. Crypto Coins are tokens or coins in a casino minted off a factory called a Mine which the limit is defined in the initial definitions or Contract, something like the Constitution. There is a limit to how many can be mined and / or circulated.

 

Coins or Tokens are what these assets are called and in the defined currency. Usually we will hear BITCOIN , ETHEREUM or tokens and the currency code will be like BTC , ETH or others. They are minted by means of a REWARD SYSTEM or MINING where each block they mined, they get a certain number of coins + the mining fees.

 

What is a Miner and Mining Fees. To pay for a transaction or send a message, you need to pay some sort of fee, like electricity tariffs to the producer. The Miners will mine the block, encode and sign the ledger collectively and share the rewards and finders fee. Think of it as the Postman who collects your checks for the bank to process and gets a fee on the postage stuck to the envelopes. Whoever pays higher fees gets their transactions through first and the cheapest will take the last priority, mainly there is a limit to the size of the queue.

 

A Block is a group of transactions , bound together as a collective and at the end of the specified block, defined as either by size of the block or time is signed at the end of the block and encoded to the chain. Think of your class homework is checked by the teacher , signed off and results *(Hash of the Transactions) is recorded into the Report Book and the report book is signed by the headmaster. So before next year starts, your headmaster checks the report book signed by the teacher, add that to the start of the next year report and it goes on and on. That is called a Chain.

 

Because it’s been signed off by the Headmaster, the results cannot be changed on your homework or test results because everyone can have a copy of the report books. That is called the Ledger. The ledger sits on the block chain.

 

There are some coins that piggy back on some other infrastructure. It may be sitting on the XCP CounterParty network which rides on Bitcoin BTC network or Ethereum based ERC-20 for Tokens or ERC-721 for non-fungible tokens *(more like a fantasy coin or other uses). The coin or token require a smart contract to create and issue the coins and some due diligence is needed. A transaction fee of satoshis *(about USD7 worth of BTC at current time) or Ether Gas *(called wei ~ approx. 25c in fees) are needed to encode the message into the chain.

 

DAX or commonly known as Digital Asset eXchange is an exchanger of assets. Think of it as a stock market where you trade your money for future contracts like Oil etc or Forex like USD-GBP-JPY etc. A DAX sometimes sell you assets in your local currency and at times allow you to trade in different pairs such as USDT-BTC-ETH or other major pairs.

 

Note that USDT is a TEETHER where the asset is pegged against USD safely kept in a custodian.

Do check and do a proper full due diligence. Think of them as Promissory Notes by the Central Banks. There are stable coins for currencies like the Singapore Dollar xSGD which are acceptable by exchangers such as Cryto.com, CoinHako, Luno and others.

What is block chain finance?

Block chain finance aka FinTech is almost similar to blockchain technology.

Think of it this way, I want to pay you x amount of this y currency but you are in z country. An example is you are in India paying a supplier in Kashmir Pakistan in Rupees (with bundles of 1000 rupee notes) but the other guy only accept Pakistani Rupees. So how do you do, either you send in smuggled notes, thru Hawala or remit in USDollars which will cost you as much as 20% in fees. Now with Indian Rupees not legal tender, you are in a huge mess.

So now in the cyber world, I will send in Bitcoin or thru paypal, but paypal will still eat 2.5% in exchange fees. In crypto world, there are no fees or very little such as 0.00000001 btc aka 1 satoshi for the transfer, which is shared to the pool. What will happen is you broadcast to the world, say Mr Rajah acct x1234567890asfgh send a digital check to Mr Ali acct 0987654321awawqq for 0.0011 btc and with the fee, starting balance  1.0011 ending balance 1.0000 for Mr Rajah and start balance 0 anf ending balance 0.0011 for Mr Ali.

Everyone on the network copies and concur with the transaction and its sealed to the ledger digital block 123456 digistamp 24nov2016.0000.11 with crc check digits xxggaaccexample created by the miners. Once clear and sealed, no reversal.

So this goes on and on.

The need to pay middlemen are less now as everyone has a copy of every transaction of the chain till this time.

It reduces the cheque, wire fees, transfer fees and time taken.
Banks cut the cost drastically.

(end part 1)

Banks - Are they a good buy right now?

During these days, bank stocks are coming at a cheap deal, especially with the economic crunch that have engulfed the regions and the American market. All these sentiments cause a knock on effect across the board be it on the NYSE Main Board or Dow Jones Index or London Stock Exchange par to the Financial Times Index or you are a trader in Singapore or Malaysia or even Hong Kong, stocks are plummeting as far as 34% over the last 30 days.

I am a small time buyer, not willing to risk everything on the expensive stocks pegged to the index as each stock cost at least in the double digits, tens of dollars or some costing over the hundred dollar mark each. Any changes in the sentiments will cause me to loose a chunk of money. However, it is the best time to pick out the ripe stocks for keep sake, as the dollar slide against the other currencies and the index are dipping as gradual as possible.

Take for example Malayan Banking Berhad, aka May Bank in Malaysia, one of the oldest and biggest bank in the South East Asia market, as old as Hong Kong Shanghai Banking Corporation HSBC and at par even with London Based Standard Chartered Bank aka StanChart. They announced yesterday that they are acquiring Bank International Indonesia BII for US$2.1 Billion from Singapore Government's Investment Arm Temasek Holdings making them the biggest bank in the South East Asia. Does that mean it is going up? Supposingly. However, due to poor market sentiments today and the fact that the bank will be using up all their financial backing to purchase the other entity sent the trigger signals today creating a landslide of more than 10.6% dive in it's value. The bank has to hold at least $2.3 Billion in cash for their Singapore Based license as they are the Foreign Local Bank, just like Oversea Chinese Banking Corporation OCBC and the United Overseas Bank UOB Group in Malaysia.

So, is it a good buy? Yes, as the banks are stable here, they will call for dividends and with projections issued out this year, it calls on profits over $1.17 Billion before tax and even when the prices dip a little bit, you should buy more to cover your positions and wait for your bonus issues. As for American Banks, they are over priced too much and they should dip another 12 - 22% before I call it a worthy price, as they are suffering as what the Dot Com are facing 10 years back, with over inflated prices. Returns of the IRA and CD are not working out well, so it's time to dip into those funds and liquidate them, going for gold and overseas financial stocks like Halifax Bank of Scotland HBOS or HSBC or even Malaysian and Singapore stocks. They kept on merging and going into alliances so it's the best time to buy as US Dollar is losing their par value.

Good Hunting