BotTrigger Stock Trade Alert:
$MGTI bought @ $1.35 allocation for a 5% allocation
*will be published in the Members area as a formal & separate portfolio
BotTrigger Crypto Trade Alert:
$DASH cryptocurrency bought @ $195.60 for a 5% allocation
$LTC cryptocurrency bought @ $45.57 for a 5% allocation
$ETH cryptocurrency bought @ $293.75 for a 20% allocation
$NEO cryptocurrency adding @ $19.00 for another 10% allocation
On Tuesday, Overstock—a popular online store that sells everything from furniture to bedding— announced it will begin accepting payment via Ethereum, Litecoin, Dash, and every other major digital currency as payment from customers. CEO Patrick Byrne issued a statement: ‘Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins. For that reason, we have been an early proponent and adopter of cryptocurrencies. This is a red letter day in the crypto revolution. We ship to 129 countries—now any of them can pay in any of these currencies and have goods shipped there.’
To process all the new currencies, Overstock will rely on a company called ShapeShift for the backend operations. The Switzerland-based company, whose service lets users instantly convert one type of digital currency to another, built an API that allows Overstock to accept any major digital currency and get paid in bitcoin on the backend. According to ShapeShift CEO Erik Voorhees, there is growing demand for all crypto-currencies. He told Fortune that ShapeShift processed $200 million worth of customer orders last month—a ten-fold increase of what the company processed in December. According to Voorhees, other big companies can easily install ShapeShift's payment API, meaning they could soon follow Overstock's example and accept payments in other digital currencies too. This is an important step on the road to mainstream adoption.
More than five months after bitcoin and gold prices hit parity, bitcoin is now worth nearly three times as much as the more traditional store of value. The price of bitcoin reached a new high above $3,400 during today's session, a figure that was more than $2,000 above the price of gold. As gold is manipulated to reject risk, digital currency has taken its place as a better fit in the modern economy.
MGT CEO John McAfee recently tweeted: ‘Bitcoin now at $3,215. Positioning MGT as North America's largest Bitcoin miner ..... an unwise choice? Maybe I do know what I'm doing? No one can even come close to our costs. We are cheaper even than the Chinese.’ Over the last three trading sessions MGTI is +16%. We’ll be ready to add exposure at $1.40.
Russia is jumping into digital currency in a major way. After meeting with Ethereum founder Vitalik Buterin in June, a company co-owned by one of President Vladimir Putin’s internet advisers plans to raise the cryptocurrency equivalent of as much as $100 million in a push to help Russian entrepreneurs challenge China in bitcoin mining. Russian Miner Coin is holding an initial coin offering. These new tokens will have rights to 18 percent of the revenue earned with the company’s mining equipment. RMC plans to use semiconductor chips designed in Russia for use in satellites to minimize power consumption in computers for crypto-mining. Russia believes it has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.
For those still on the fence about whether or not Cryptocurrency deserves some attention in your portfolio...it doesn't have to be much...start small. If anything, buy yourself 1 Bitcoin to start.