Will Neo Replace Ethereum For ICOs?

No matter what your stance is on initial coin offerings (ICOs), there’s no doubt that there will be more coming. But where many were and are built using the Ethereum technology, NEO is quickly becoming another viable option. Similar to Ethereum, NEO is targeting the ICO crowd. Even though it hasn’t …
neo ICO

No matter what your stance is on initial coin offerings (ICOs), there’s no doubt that there will be more coming. But where many were and are built using the Ethereum technology, NEO is quickly becoming another viable option. Similar to Ethereum, NEO is targeting the ICO crowd. Even though it hasn’t been determined how far the law will go to intervene, NEO’s ICO template is built for people to take a look at. It seems like this will check all of the boxes when it comes to running a successful ICO campaign.

Of course it is always intriguing to see how these money raising templates will be built and in turn, used or modified to fit specific needs. Ethereum has ICO templates like this with things like dedicated guides on how to make and issue tokens. Something called Smart Contracts are invaluable tools in this manner since both Ethereum and NEO hold keys to this technology. It would seem that the marketplace could see another ICO boom that involves the NEO ecosystem as opposed to the Ethereum ecosystem, in the future.


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New templates that have been released to the public already show that it will be much more simple to use for companies and individual projects to host their ICO on the NEO network. Even with most people preferring to run an ICO on Ethereum, it’s a matter of time until infrastructure can’t mate up with the increasing demand for these kinds of tokens. Because of the higher frequency of volumes that the Ethereum network sees from highly popular ICOs, the network itself can get heavy backlogs to cause numerous issues.

It’s still up in the air as to whether or not NEO will encounter similar issues but new features of the NEO technology could offer ICO organizers different capabilities. For example, if a crowdsale is complete and someone makes an attempt to send money, the transaction will be bounced back and the funds will not even leave their cryptocurrency wallet. This is an important part of a truly successful ICO framework.


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No matter if it’s Ethereum or NEO, ICO’s will continue to be popular for times to come. In spite of opposition from regulators and governments around the world, NEO may become a new solution for initial coin offerings and time will be the gauge.

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Finance : Ripple hires Facebook communications manager after its cryptocurrency triples in a week

Ripple, the company behind the third-largest cryptocurrency, has hired Tom Channick to serve as its head of communications. Channick, who will start January 2, previously served as a corporate communications manager for Facebook’s advertising and business integrity unit. “I am honored to join …

  • Ripple’s XRP cryptocurrency has more than tripled in one week.
  • The company hired a Facebook communications manager to keep up with demand.


Ripple, the company behind the third-largest cryptocurrency, has hired Tom Channick to serve as its head of communications. Channick, who will start January 2, previously served as a corporate communications manager for Facebook’s advertising and business integrity unit.

“I am honored to join Ripple, and very much look forward to working with the global team to continue to build the internet of value,” Channick told Markets Insider in an email. “Developing technology that let’s people and businesses move money as fast as information is incredibly important, and I’m excited to help Ripple achieve that goal.”

The move comes the same week that Ripple’s cryptocurrency, XRP, more than tripled in price, from $0.253 to $0.775 per token, and overtook bitcoin cash as the third-largest cryptocurrency by market capitalization. It trails only bitcoin and ethereum by that measure.

Ripple, which was founded as Ripple Labs in 2012, is based in San Francisco. The firm is using blockchain technology to speed up global payments and transfers, most of which currently use an outdated network called Swift, which can take days to send money.

Those payments are facilitates through its cryptocurrency called XRP, which saw major gains this week thanks to newly announced partnerships and tests with major banks and financial firms.

In 2015, Channick was named to Business Insider’s 50 best public-relations people in the tech industry for his work with the advertising software company Sharethrough. Before that he worked for the agencies WE communications and WCG.

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Crypto Today: XBT rises above $18K, ripple enters consolidation phase

In the meantime, ripple, which surpassed bitcoin cash and became the third largest cryptocurrency behind bitcoin and ether in terms of trading volume, went into a consolidation phase after more than doubling its price in the last two days. At the moment, the XRP/USD pair is trading at 76 cents, down …
  • Bitcoin gains traction on Friday.
  • Total market cap continues to edge higher above $500 billion.
  • Ripple’s rally comes to an end.

Following a corrective slide that lasted three days, bitcoin gathered strength on Friday, pushing the BTC/USD pair to a fresh all-time high at $18,130 and lifting the XBT (CBOE Bitcoin Futures) back above the $18K handle. According to the latest available data on coinmarketcap.com, the BTC/USD pair was trading at $17,858.60, adding 7.71% on the day and more than 80% in December, while XBT was up 7.75% at $18,080. Experts argued that today’s upsurge was a product of investors looking to get their hands on more bitcoins before the CME Group launches futures trading on Sunday.

However, concerns over a potential price bubble continue to rise. “Our evidence finds that the price of Bitcoin has been artificially inflated by speculative investment, putting it in a bubble. Although bitcoin is not regulated by governments, it could still have a knock-on effect on traditional markets due to the interconnectedness of cryptocurrency markets with other financial assets,” Larisa Yarovaya, one of the report’s authors and a lecturer at Anglia Ruskin University, told Reuters on Friday.

In the meantime, ripple, which surpassed bitcoin cash and became the third largest cryptocurrency behind bitcoin and ether in terms of trading volume, went into a consolidation phase after more than doubling its price in the last two days. At the moment, the XRP/USD pair is trading at 76 cents, down 6.4% on the day.

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Seth Klarman calls bitcoin a ‘trading sardine,’ others say ‘speculative mania’ — They are right

In similar fashion, Bridgewater Associates founder Ray Dalio, whose firm manages $160 billion, questioned bitcoin’s ability to be a unit of exchange in September. “Bitcoin today you can’t make much transactions in it. You can’t spend it very easily,” Dalio said. “It’s not an effective storehold of wealth …

As speculative fever for digital currencies surges this year, investors may want to heed the warnings of the most successful investors of our generation.

The biggest names in investing — including Druckenmiller, Dalio, Chanos, Gundlach and Klarman — are all now criticizing bitcoin, saying the pre-eminent cryptocurrency has critical flaws.

Billionaire Stanley Druckenmiller told CNBC Tuesday he is skeptical bitcoin can be a viable digital currency.

“What I do know about bitcoin is, the concept it could ever be a medium of exchange has been eliminated because you can’t do transactions, particularly retail transactions, with this kind of volatility,” he said.

Druckenmiller is chairman and chief executive officer of the Duquesne Family Office. His hedge-fund track record is unparalleled, generating annualized returns of 30 percent during his investment career.


In similar fashion, Bridgewater Associates founder Ray Dalio, whose firm manages $160 billion, in September questioned bitcoin’s ability to be a unit of exchange.

“Bitcoin today, you can’t make much transactions in it. You can’t spend it very easily,” Dalio said. “It’s not an effective storehold of wealth because it has volatility to it, unlike gold. … It’s a shame, it could be a currency. It could work conceptually, but the amount of speculation that is going on and the lack of transactions [hurts it].”

Bitcoin year to date

Source: CoinDesk

Bitcoin is up more than 2,000 percent in the last year and now trades above $17,000. Bitcoin futures trading launched this week on the Cboe exchange, gaining more than 19 percent Monday in the first full day of trading.

There are now 1,358 cryptocurrencies in existence, according to CoinMarketCap. Other digital currencies such as ethereum are better designed for programmable “smart contracts” and have quicker transaction times versus bitcoin.

Bitcoin’s scalability is another issue. There is technical limitation on how many transactions can be processed at the same time. Partly as a result, widespread use of the cryptocurrency for payments has not occurred yet.

So cryptocurrency investors must honestly ask themselves, is bitcoin really changing the world through blockchain technology innovation or is it mainly speculative asset? It’s the latter.

Kynikos Associates short-seller Jim Chanos, lauded for his prescient negative calls on Enron and Tyco, compared bitcoin to previous fads.

Bitcoin “is a speculative mania. It’s Beanie Babies,” he said at a Schechter event in Detroit, Michigan, on Wednesday, referring to the toy craze during the 1990s.

DoubleLine Capital CEO Jeffrey Gundlach criticized the lack of analytical rigor in the recent “nice round number” $1,000,000 price targets for the bitcoin, which is reminiscent of previous speculative blow-offs.

“I have no interest in this type of maniacal type of trading market,” he said on CNBC Wednesday.

Hedge-fund manager Seth Klarman, the value-investing giant who often draws comparisons to Warren Buffett, wrote in his classic book “Margin of Safety” an illuminating parable warning against speculation:

“There is the old story about the market craze in sardine trading when the sardines disappeared from their traditional waters in Monterey, California. The commodity traders bid them up and the price of a can of sardines soared. One day a buyer decided to treat himself to an expensive meal and actually opened a can and started eating. He immediately became ill and told the seller the sardines were no good. The seller said, ‘You don’t understand. These are not eating sardines, they are trading sardines.’

Like sardine traders, many financial-market participants are attracted to speculation, never bothering to taste the sardines they are trading. … trading in and of itself can be exciting and, as long as the market is rising, lucrative. But essentially it is speculating, not investing. You may find a buyer at a higher price — a greater fool — or you may not, in which case you yourself are the greater fool.”

When asked for comment for this column on whether bitcoin is a “trading sardine,” Klarman replied: “Yes.”

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Korean Investors Are Buying Bitcoin Instead Of Stocks

Korea’s largest cryptocurrency exchange, Bithumb, saw 182 times the number of digital currency transactions made this year. Just for starters, in January there were roughly $277 million worth of transactions but by November, this figure had skyrocketed to nearly $52 billion. Reports from Business Korea …
south korea bitcoin

Korea’s largest cryptocurrency exchange, Bithumb, saw 182 times the number of digital currency transactions made this year. Just for starters, in January there were roughly $277 million worth of transactions but by November, this figure had skyrocketed to nearly $52 billion. Reports from Business Korea state that the figure comprises more than eighty percent of $63.36 billion, which is the average monthly transaction volume in the KOSDAQ for the year.

There is concern regarding this. The sudden uptick of investment into cryptocurrencies will impact Korea’s stock exchange, which includes the KOSDAQ. Bithum has already stated that their monthly transactions have jumped month over month. April saw $593 million, which boosted to just under $5 billion. July was even larger with just a hair over $54.5 billion.


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The KOSDAQ, however, saw monthly transactions decline. April’s figures were roughly $63.7 billion, in May it dropped to roughly $51 billion, July was a bit better with around $57 billion, but then dropped again in August. On August 19th, the daily trading volume on Bithumb was $2.4 billion, which had flown past the $2.24 billion adjusted daily trading volume on the KOSDAQ for the same day.

‘With few market barriers, the cryptocurrency market revolves mainly around retail investors more than the KOSDAQ market, becoming a magnet for small investors,” said Suk Tae, a senior economist at Societe Generale Securities Korea.

With Bithumb growing, South Korea has now grown into the world’s third largest market for bitcoin trading. This is in line after Japan and the United States. There are over one million daily traders who are registered in South Korea. This extreme growth of digital currencies has begun to worry the South Korean Government.


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There have already been arguments on the topic as to whether or not South Korean government regulations on cryptocurrencies will end up slowing down the boom in crypto.

Virtual currency trading only encounters commission fees. The chief of the National Tax Agency announced that the government is going to put into place a value-added tax, a capital gains tax or both on trades. The South Korean government will make an official decision in the first quarter of 2018.

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