How 2019 Can Be A Promising Year For Cryptocurrencies

2017 was a year when cryptocurrencies enjoyed its biggest successes. Most of the virtual currencies broke the glass ceiling with their resistance levels. It was a year when it was almost taken for granted that investing in these non-fiat currencies could help you to get amazing returns.

The bullish trends that time were the fear of missing out (FOMO) by potential investors and the general excitement of a new invention.

This amount of positivity was, however, met with doom and gloom that December when prices skyrocketed and then plummeted suddenly. This was the case of all major cryptocurrencies, with Ethereum suffering the biggest blow.

The bearish market trend then was a result of hostile regulatory environment by governments the world over who wanted to protect fiat currencies as against their virtual peers.

2018, however, is a tumultuous year for cryptocurrencies.  Till date, it was seen that most of the avenues for making money from cryptocurrencies had fallen flat. Some Investors looked the other way even as people who had faith in virtual currencies made money by strategically selling off their investments through Online Cryptocurrency Exchanges.

For the remainder of 2018 and the coming 2019, here are a few strategies which can be adopted to ensure great returns from cryptocurrencies.
  1. In the long run, cryptocurrencies with real world partnerships can help to get the best bang of the buck

The Cryptocurrency market is fast paced, highly risky and also better suited to day traders than it was ever before. Just like you would do with stocks, you can select virtual currencies which you can wait on 2-5 years before redeeming.

You can do this by choosing those cryptocurrencies that have partnerships with real-world industry players. For example, Stellar Lumens has partnerships with Shift, Deloitte, IBM and Stripe to name a few.

  1. Let Robots do the trading

With robotics now creeping into all fields, you can now take the help of bots to trade in cryptocurrencies for you. Generally, most cryptocurrencies fluctuate 1-2% daily and bots can ensure you get the best deal by keeping a keen eye on the markets for you 24×7. You can take the services of Gekko, CryptoTrader or Zenbot for this.

  1. You can run a masternode to accumulate returns and increase the quantum of investment

As an investor, you do not necessarily need to trade in cryptocurrencies. You can also operate a node which can be used to earn passive income while also getting the benefit of price appreciation on the staked coins.

Operating a masternode typically requires a hefty initial investment, where you need an operator to run the node. These operators can get a 5-20% of a block reward which is meant to compensate them for the cost of running a node.

The cost of operating a node has significantly reduced, making it a lucrative way to earn through cryptocurrencies. Node operators can hold, exchange or block their rewards on cryptocurrency exchanges like Evonax.


Author: Claus Jensen

Venture Capitalist: Be Patient With Crypto, Amazon Took 8 Years to Recover From 1999

Renowned venture capitalist Fred Wilson has said that crypto could go down even more in the short-term. But, investors that remain in the market will likely be rewarded, as was the case in the Dot Com era.

In a blog post on Nov. 25, Wilson said:

“So while crypto asset prices are down 80-95% in USD terms over the last year, they could and probably will go lower. Amazon was down 80% a year into the post-bubble bear market and it got cut in half again before it made a bottom almost two years after it peaked. What we have yet to see in crypto land is when they kick you when you are down. And that is certainly coming.”

Case of Amazon

Amazon, now the second largest technology conglomerate in the world behind Apple with a stock price of $1,500, was worth $6 less than 17 years ago. Investors that bought Amazon stocks in 2001 are up 250-fold. If you had invested $1,000 into Amazon at the time, that investment is now worth $250,000.

But, prior to 2001, in 1999, the price of Amazon stock achieved a new all-time high at $90 as the Dot Com bubble peaked. From then on, the stock price of Amazon collapsed, declining to $6 in 2001. It took Amazon more than eight years to recover to $90 in 2007.

Wilson noted:

“Amazon peaked in the Internet bubble in late 1999 at around $90/share. Almost two years later, at the trough, you could briefly buy Amazon at $6/share. And then it took until late 2007 for Amazon to trade above the highs it reached in 1999.”

Provided by

Like Amazon, the cryptocurrency sector has suffered several large corrections in the past and each one of the corrections averaged a drop of 85 percent. As an asset class at its infancy, cryptocurrencies will continue to experience bubble-burst-build-rally cycles in the years to come.

Wilson emphasized that similar to the case of technology stocks in the early 2000s, investors that remain in the cryptocurrency sector through long-lasting downtrends and bear markets will be rewarded in the long-term.

“I think some crypto asset (and possibly a number of crypto assets) will have a price chart like Amazon’s current one in 18 years. But we will have to do what Amazon did, hunker down and build value and survive, for quite a while to get there. And I think things will get worse before they get better,” said Wilson, adding that no paydays were awarded to investors in the technology space until 2010.”

Wilson added:

“But those who stayed were rewarded, although it took a long time for that to happen. We didn’t see meaningful paydays in the Internet sector until the 2007-2008 period and the big paydays didn’t start coming until 2010 and beyond.”

Promising Future

In 2017, as individual investors fueled a strong rally for major cryptocurrencies, the global crypto market secured a valuation of over $800 billion. Since then, the cryptocurrency exchange market has seen a drastic change in its infrastructure with the entrance of Fidelity and conglomerate-backed exchanges.

BitcoinEthereum, and other major blockchain networks saw the implementation of fundamental first layer improvements pertaining to security, privacy, and scalability.

In many areas including regulation, infrastructure, and liquidity, the cryptocurrency sector is in a much stronger position than it was in late 2017.

The latest cryptocurrency market crash was triggered by the movement of the market; when an asset class experiences a four-fold increase in value within a two-month period, it tends to correct. But, as Wilson said, it is important to objectively evaluate the state of the market and the sector with tangible evidence.

Author: Joseph Young
Image Credit

Ukraine’s New Policy to Legalize Crypto, Considering Full Scale Adoption

In an official statement, the Ukranian government confirmed its plans to establish regulatory frameworks to legalize crypto in the region.

As a part of an initiative to consider and acknowledge cryptocurrency as an emerging technology, the Economic Development and Trade Ministry in Ukraine released a new state policy to oversee various cryptocurrency-related sectors which will be put in full effect by the end of 2021.

Two-Part Plan

Throughout 2018 and 2019, the government of Ukraine will integrate regulatory frameworks to strictly govern the local cryptocurrency exchange market. Crypto trading platforms will be required to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) systems to help local authorities monitor the market.

By 2020, the government plans to delve into the cryptocurrency mining industry, smart contract protocols, and taxation, as the second part of the initiative to recognize cryptocurrencies as an asset class and an established industry.

Researcher Denis Zarytsky stated that the official document released by the government of Ukraine outlined a 5 percent tax payable by entities and individuals with cryptocurrency holdings, a rate that is substantially lower than other regions like France and the UK that have over 10 percent tax on cryptocurrency investments.

Regions that have recognized cryptocurrencies as properties impose higher taxes, as Japan and Australia have done in the past. In early 2018, both Japan and Australia removed double taxation on crypto.

“They aim to determine guidelines for token classification. Additionally, they will be touching upon issues that relate to smart contracts and cryptocurrency mining. Therefore, this work will be ongoing. There will be two separate stages to the implementation of this new state policy. The hope is to have this policy in full effect by 2021. In addition to the new state policy, the government notably has brought in a new taxation bill. This outlines a new 5% tax that is payable by entities and individuals with cryptocurrency holdings.”

In October, Yuriy Derevyanko, a member of the anti-corruption Movement of New Forces and a legislator of Ukraine, called for the complete elimination of taxes on crypto by the end of 2020.

Derevyanko firmly stated that crypto has the potential to become one of the major markets of Ukraine and a driving force of the country’s economy.

“I believe we need to impose a moratorium on taxation of [the crypto] area for the next 10 years. We have to regulate and legalize this segment, which will become an engine for a new economy.”

Currently, both the opposing and the ruling party of Ukraine remain positive on the long-term growth of the cryptocurrency sector and blockchain technology.

The positive sentiment towards the new asset class in the country could lead to a sped-up process of implementing the policy drafted by the government to legalize cryptocurrencies within the next three years.

Falling Back Behind Japan and South Korea

Singapore, South Korea, Japan, Switzerland, the UK, and France as of late have shown significant progress in terms of regulation and infrastructure establishment to facilitate increasing demand towards the asset class.

While local experts remain optimistic regarding the three-year plan of Ukraine, some have expressed concerns in the timeframe of the initiative and that the period of three years could allow other emerging cryptocurrency markets to take first-mover advantage.

Author: Joseph Young
Front Image Credit: Other Image from Shutterstock

Mass Adoption of Crypto Far from Being Achieved, Best Chance in Turkey

Based on a survey conducted by Statistca on 15,000 individuals, Turkey has the highest percentage of population that has invested in the crypto market.

According to the data released by Statistica shown below, 18 percent of the country’s investors have purchased cryptocurrencies like Bitcoin and Ethereum in the past few years.


Motive of Residents in Turkey to Invest in Crypto

Earlier this month, the US government imposed additional sanctions on the Turkish economy, excluding the region from the global banking system operated by SWIFT in Belgium. Consequently, the lira, the national currency of Turkey, fell by more than 50 percent against the US dollar.

On August 12, Bloomberg reported that Turkish merchants were losing out massively with their holdings in lira due to the country’s conflict with the US, which worsened after the government rejected to free pastor Andrew Brunson, who was moved to house arrest last month due to health issues.

Due to existing capital controls and the governments encouragement to prevent converting the Turkish lira to other reserve currencies like the US dollar, merchants and local businesses have been unable to cash out their holdings in lira.

“I have respect for our president, but I can’t sell my gold and foreign currency just because he made that call. I’ve cut down on food for those savings,” Sevin Temur, a 58-year-old retiree, told Bloomberg.

48-year-old jeweler Cahit Bas also said in an interview that he has lost out on 1 million liras as a result of the intensified conflict between Turkey and the US, worth around $350,000.

A currency, whether it is a national currency or consensus currency, is as much valuable as its ability to operate as a medium of exchange. If the liquidity of the currency is low and its users are disallowed by a central party from being able to exchange it for other assets, then the value of the currency could be called into question.

The practice of control and dominance over the Turkish lira by the government by eliminating financial freedom from its resident has primarily fueled the increase in demand for cryptocurrencies by local merchants, individuals, and businesses.


Will This Trend Continue?

Last week, CCN reported that Germany, one of the largest economies in Europe, has declared its intent to create a financial system that is independent from the US in light of the issues between Iran and the US.

For many years, the US government has leveraged the SWIFT banking system to exclude countries like Iran and Turkey from the global financial system.

In response, Heiko Maas, German foreign minister serving in the fourth cabinet of Angela Merkel since March of this year, said:

“For that reason it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system.”

As a growing number of countries call for the establishment of independent financial systems, the merit of crypto as an anti-censorship and decentralized financial network will appeal to a larger group of consumers.

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Author: Joseph Young
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Peoples Token

TIP Blockchain’s Ecosystem will Power Mass Adoption!

Who we are!

Tip is a third-generation blockchain platform powering mass adoption of cryptocurrency by creating an ecosystem that connects end-users and businesses on a network, where they can transact easily across international borders. Our solution for end-users provides user-friendly usernames that are easy to remember, and discovery, so it is easy to find other users on the network.

Our vision is to create the most user-friendly and easy to use platform in the cryptocurrency economy that connects businesses to end users, and removes the technical barriers that users face today when using cryptocurrency. Tip will be a strong catalyst for the mass adoption of cryptocurrency!

Get your cryptocurrency username on Tip Blockchain

Username registration on the Tip Blockchain platform is nearing 2000 in just a few days since it began. That means almost 2000 unique usernames have already been taken. Those who are interested in getting the best usernames should visit Tip Blockchain’s username registration page soon.

The vision of the Tip Blockchain project is to make blockchain technology accessible to all. Blockchain has several technical barriers to entry and Tip is working on breaking down all these barriers. A parallel to what Tip is doing can be drawn with the early days of the internet. That was before search engines indexed the web and made finding information on the internet easy, and before short website domain names like replaced IP addresses like

The drastic improvement and simplification in user experience enabled everyone, from grandparents to soccer moms to utilize the internet, which catalyzed the phenomenon of internet mass adoption. Fast forward to today, blockchain and cryptocurrency are being hailed as the next wave of technological revolution after the internet. However, not many people are actually using blockchain technology in their daily lives. We are still in the early stages of this technological revolution which is waiting for a catalyst that can help propel it into the mainstream. Tip Blockchain aims to position itself as the leading provider of such a catalyst.  

Just as search engines opened up the internet, Tip Blockchain makes discovering and utilizing information on the blockchain easy by building a unique, blockchain-based ecosystem in which information stored on the Tip Blockchain is automatically indexed, making it readily searchable and easily utilized by Dapps in the future. One use-case of this technology is storing short usernames on the blockchain attached to accounts. This seemingly simple technology has astounding implications; Short, easy to remember usernames are now used as cryptocurrency addresses. Similar to replacing IP addresses with easy to read domain names, cryptocurrency users no longer need to verify long and complex hashed addresses like 0x2910543af39aba0cd09dbb2d50200b3e800a63d2, replacing them with simple usernames like @CryptoObiWan or @BayStCoffee.

How is this different from ENS?

While ENS (Ethereum Name Service) offers the ability to attach names to addresses, it does not provide a cohesive ecosystem in which users can find each other and transact in the real world. It serves more as a registry, comparable to the domain name service used by websites, whereas Tip usernames are more like usernames on Twitter or Telegram; Everyone on the network, including end-users and businesses, have usernames which you can use to find and transact with them.

The platform will also support peer-to-peer encrypted instant messaging, so people can find each other and chat to confirm their identities before sending cryptocurrency directly within a chat conversation. Tip is bringing a whole new social aspect to using cryptocurrency in the real world.

Merchant Support

Businesses will enjoy a cryptocurrency point of sale (POS) system that makes processing transactions easy. This utilizes the unique features of arbitrary information on Tip Blockchain as a means of storing contextual information for transactions. Thus, merchants will be able to identify the customers and orders and formulate insights using data analytics on this information. Traditional point of sale system features like customer management and sales reporting will also be supported.

Our Key Features!

Smart Addresses

Send money to friends and family using their username. You can send to @TipToken, instead of 0x28AD00F1CDF1E24900031

Peer-to-Peer Instant Messaging

Chat with your friends and family over secure peer-to-peer connections and send TIP tokens from right within your conversation.

Transaction Metadata

Arbitrary data attached to transactions can be used for various purposes, including identifying info, memos for payments, receipt confirmation and more.

Merchant Solutions

Point of sale system for merchants to easily accept cryptocurrency payments from their customers, saving transaction fees and time.

Search and Discovery

Information on the network is indexed and searchable so users and businesses can find information by searching using our wallet and point of sale apps.

Light Mobile and Desktop Wallets

Our light desktop wallet ensures that you can connect to the Tip network and start sending transactions whether you’re at home, office, or on the go.

Using Cryptocurrency has never been easier!

Username registration is live now. Usernames are registered on a first come first serve basis. Tip Blockchain is currently offering 25 TIP tokens reward for each registration, and an additional 10 TIP tokens for each referral. Their first discovery app prototype which enables finding other users on the network is scheduled for proto release next week.

Tip Blockchain ICO is live with the current 10% bonus round ending on August 10 at 11:59 pm UTC. The token sale ends on August 17. For more information go to their website:

Useful Links:

Participate in token sale:
Register your username: