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Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on Ethereum

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself on the DeFi Pulse website.

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA player Spencer Dinwiddie tokenized his own NBA contract.)

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (Jitsi for the zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to CryptoCurrency [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethtrader [link] [comments]

A detailed summary of every reason why I am bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethfinance [link] [comments]

I bought $1k of the Top 10 Cryptos on January 1st, 2020 (Sept Update)

I bought $1k of the Top 10 Cryptos on January 1st, 2020 (Sept Update)

EXPERIMENT - Tracking Top 10 Cryptos of 2020 - Month Nine - UP +56%
See the full blog post with all the tables here.
tl;dr
  • I thought I'd mix it up and start with the 2020 Top Ten first this month.
  • Rough month, but still way up in 2020, and still way ahead of the stock market.
  • I purchased $100 of each of Top Ten Cryptos in Jan. 2020, haven't sold or traded. Did the same in 2018 and 2019. Learn more about the history and rules of the Experiments here.
  • Sept - down month for 2020 Top Ten, except for BNB, which crushed it (+25%)
  • Overall since Jan. 2020 - ETH in the lead (+187%), BNB in distant second place. 100% of 2020 Top Ten are in positive territory and have a combined ROI of +56% vs. +5% of the S&P
  • Combining all three three years, Top Ten cryptos underperforming S&P if I'd taken a similar approach.

Month Nine – UP 56%

2020 Top Ten Overview
After a rough start to the month, most of crypto had a Wake Me Up When September Ends moment. For the 2020 Top Ten Portfolio, it was bad, but could have been (as has been) much worse: it was the best performing of the Top Ten “Index Fund” Experiments in September and at least one of the cryptos (BNB up +25%) had a great month.

Question of the month:

In September, this decentralized exchange (DEX) overtook Coinbase in trading volume:

A) UniswapB) AaveC) CompoundD) Both A and B
Scroll down for the answer.

Ranking and September Winners and Losers

2020 Top 10 Rank
Lots of movement this month: six out of the Top Ten changed positions in September. BCH climbed one from #6 to #5 and BNB made a big move from #10 to #6. Going the opposite direction were BSV, EOS, and Tezos, dropping one, two, and four places respectively.
The big story though, at least for anyone who’s been watching crypto for a while, was the ejection of Litecoin from the Top Ten. In just 30 days, LTC fell five places from #7 to #12. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not has not held a spot in the Top Ten.
Drop outs: after nine months of the experiment, 30% of the cryptos that started 2020 in the Top Ten have dropped out. LTC, EOS, and Tezos have been replaced by ADA, LINK, and most recently, DOT.
September Winners – Winner, singular: BNB was the only crypto to finish in the green, finished up +25% for the month, and gained four places in the rankings. A very good month for Binance Coin.
September LosersTezos was the worst performing crypto of the 2020 Top Ten portfolio, losing nearly a third of its value, down -31% for the month. LTC also had a bad month, losing -24% and dropping out of the Top Ten.
Since COVID-19 has hammered the sporting world, let’s be overly competitive and pit these cryptos against each other, shall we? Here’s a table showing which cryptos have the most monthly wins and losses nine months into the 2020 Top Ten Crypto Index Fund Experiment:

Wins/Losses
ETH is in the lead three monthly Ws, followed by Tether and Tezos with two wins each. Even though it is up +79% since January 1st, 2020, BSV has the most monthly losses: it has been the worst performing crypto of the group four out of the first nine months in 2020.

Overall update – ETH maintains strong lead, followed by BNB. 100% of Top Ten are in positive territory.

Ethereum remains firmly in the lead, up +187% on the year. Thanks to a strong month for BNB and a weak month for Tezos, Binance Coin has overtaken XTZ for second place, and is now up +109% in 2020.
Discounting Tether (no offense Big-T), EOS (+4%) is the worst performing cryptocurrency of the 2020 Top Ten Portfolio. 100% of the cryptos in this group are in positive territory.

Total Market Cap for the cryptocurrency sector:

The overall crypto market lost about $35B in September, ending the month up +85% since the beginning of this year’s experiment in January 2020. Despite a rough month, this is the second highest month-end level since the 2020 Top Ten Experiment started nine months ago.

Bitcoin dominance:


Monthly BitDom - 2020
BitDom ticked up slightly this month, but is still lower than it has been for most of the year. As always, a low BitDom reflects a greater appetite for altcoins. For context, the BitDom range since the beginning of the experiment in January 2020 has been roughly between 57% and 68%.

Overall return on investment since January 1st, 2020:

After an initial $1000 investment on January 1st, the 2020 Top Ten Portfolio is now worth $1,536, up +56%. This is the best performing of the three Top Ten Crypto Index Fund Portfolios, but not by much: the 2019 Top Ten came in at +54% in September.
Here’s the month by month ROI of the 2020 Top Ten Experiment, hopefully helpful to maintain perspective and provide an overview as we go along:
Monthly ROI - 2020 Top Ten
Even during the zombie apocalypse blip in March, the 2020 Top Ten has managed to end every month so far in the green (for a mirror image, check out the all red table you’ll find in the 2018 experiment). The range of monthly ROI for the 2020 Top Ten has been between a low of +7% in March and high of +83% in August.
So, how does the 2020 Top Ten Experiment compare to the parallel projects?
Taken together, here’s the bottom bottom bottom line for the three portfolios:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, the combined portfolios are worth $‭3,340‬ ($238+ $1,538 +$1,564).
That’s up about +11% for the three combined portfolios, compared to +31% last month.
Here’s a table to help visualize the progress of the combined portfolios:
Combined ROI - UP +11%
That’s a +11% gain by buying $1k of the cryptos that happened to be in the Top Ten on January 1st, 2018, 2019, and 2020.
But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (Big L, no pressure, but if you don’t claw yourself back in the Top Ten by January 2021, you’re out of the club). Let’s take a look:

Three Year Club
At this point in the Experiments, Ethereum (+104%) would have easily returned the most, followed by BTC (+77%). On the other hand, following this approach with XRP, I would have been down nearly a third at -31%.
So that’s the Top Ten Crypto Index Fund Experiments snapshot. Let’s take a look at how traditional markets are doing.

Comparison to S&P 500

I’m also tracking the S&P 500 as part of my experiment to have a comparison point to traditional markets. The S&P slipped a bit from an all time high in August and is now up just +5% in 2020.
Over the same time period, the 2020 Top Ten Crypto Portfolio is returning about +56%. The initial $1k investment in crypto is now worth about $1,563. That same $1k I put into crypto in January 2020 would be worth $1050 had it been redirected to the S&P 500 instead. That’s a $513 difference on a $1k investment, one of the largest gaps in favor of crypto all year.
But that’s just 2020. What about in the longer term? What if I invested in the S&P 500 the same way I did during the first three years of the Top Ten Crypto Index Fund Experiments? What I like to call the world’s slowest dollar cost averaging method? Here are the figures:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1260 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1350 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1050 today
So, taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660.
That $3,660 is up +22% since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios over the same period of time.
That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios.
For those keeping track or unable to see the table above: that’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P back in June.

Conclusion:

September saw losses for both traditional and crypto markets, but crypto got hit harder. What can we expect for the rest of 2020? The Neverending Year is entering the final quarter and is not finished with us yet: a lot can and will happen in the remaining months. More volatility is no doubt to come as we enter the final stretch of a truly unpredictable and exhausting year. Buckle up.
Stay healthy and take care of yourselves out there.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2019 Top Ten Experiment follow up experiment.

And the Answer is…

A) Uniswap
As part of the DeFi/DEX wave, in late August/early September, Uniswap surpassed Coinbase in trading volume.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

The underrated stock survey! Submit your picks for the community to track

Following on the previous tracking post (http://redd.it/i2mmzg) and the highly upvoted request from DJ-Ascii , I've set up this post for another round of underrated or undervalued stock picks.
As before, let us know what stock you believe is underrated and a consistent winner that has done well for you, or you believe will do well going forward.
In order to make this easier to track please use the following guidelines for submitting.
  1. Only one submission per comment. You can make multiple comments, but please only submit one stock per comment.
  2. Please include at least the ticker and the company name. Feel free to explain why you think this is a good stock.
I'll add these new picks alongside the old survey so as to update you on each portfolio over time. Don't worry about any overlaps.
Edit 1: I've compiled everyone who has posted so far, but I'll look out for any final additions tomorrow. The list will then be locked EOD on Friday the 7th of August, and all prices will start from there.
Edit 2: All picks have now been locked down and consolidated into the list below. Stocks are sorted in alphabetical order of their company name and the ID corresponds to the approximate order in which they were submitted. The next update will be in 30 days.
ID Company Symbol Provided by Upvotes 8/7/2020
194 10X Genomics Inc TXG Unlucky-Prize 1 $96.13
111 1ST TR EXCHANGE/NASDAQ CEA CYBERSEC CIBR komoggmu321 1 $35.40
176 2U Inc TWOU DickDaddy 1 $41.49
110 AAR Corp. AIR paulo92834 4 $18.77
180 ACM Research Inc ACMR moveitover 1 $101.92
23 Activision Blizzard, Inc. ATVI Mondanivalo 12 $82.47
8 Advanced Micro Devices, Inc. AMD ArneGo, apqwer, LoveOfProfit 13 $84.85
28 Ageagle Aerial Systems Inc UAVS fishkillr 16 $3.26
205 Agraflora Organics International Inc AGRA spreeshark 1 $0.05
22 Air Canada TSE:AC priamXus 0 $15.73
19 Alexion Pharmaceuticals, Inc. ALXN fisk47 39 $103.28
70 Alibaba Group Holding Ltd - ADR BABA helio987, ScreeMart, Necessary_Club_6714 -1 $252.10
17 Ally Financial Inc ALLY jcurtis44 1 $21.47
24 Alteryx Inc AYX Kme2 30 $121.38
222 Altimmune Inc ALT Spes-Caritas 1 $27.38
117 Altria Group Inc MO ARGENT_UM_PUR, gm14202 1 $42.17
143 American Tower Corp AMT editviewgo 1 $257.61
175 American Water Works Company Inc AWK InfamousLegato 1 $149.79
183 Anglo Asian Mining LON:AAZ krenaldi1 1 $161.50
129 Aphria Inc APHA Aprhria, Bdghablig 1 $4.47
119 Apple Inc. AAPL tcldstnvdw -1 $444.45
184 Ares Capital Corporation ARCC ThemChecks 1 $14.87
54 ASML Holding NV ASML EthosPathosLegos, earthmoonsun 15 $366.07
113 Atlassian Corporation PLC TEAM shadowrckts 1 $170.93
224 Avalara Inc AVLR nomdeplume_alias 1 $122.71
244 Axon Enterprise Inc AAXN ansofteng 1 $83.88
150 Aytu Bioscience Inc AYTU Bkzkilla2, beefy-ambulance, subaruveganguy22 2 $1.38
236 Banco Bbva Argentina SA BBAR GAV17 1 $4.23
128 Bank of America Corp BAC oobydoobydoobydoo, wrs97 2 $26.11
247 BELLUS Health Inc BLU NhatNguyen2112 1 $2.74
29 Berkshire Hathaway Inc. Class B BRK.B Jeroen_Jrn, Cuza 31 $209.48
45 Best Buy Co Inc BBY 1madeamistake 2 $102.90
35 Beyond Meat Inc BYND Kreisensalat, Flipside 8 $131.51
33 BlackBerry Ltd BB mh1t, EthosPathosLegos 25 $4.84
208 Blackline Inc BL veebeew 2 $79.26
196 Booz Allen Hamilton Holding Corporation BAH i_smel_hookers 1 $84.67
75 Boston Beer Company Inc SAM Top_Island 2 $825.79
114 Brainstorm Cell Therapeutics Inc BCLI BigSexyTolo 2 $12.79
92 Brookfield Asset Management Inc BAM duongroi, Avaronah 2 $32.32
187 Brookfield Property Partners LP Unit BPY Onarco 1 $11.75
140 Brookfield Renewable Partners LP BEP YourPineapplePunch 1 $45.25
227 Cameco Corp CCJ jh4962772, Commandobolt, 3STmotivation 13 $10.37
109 Canadian Solar Inc. CSIQ MrMineHeads, vvv561 6 $25.32
204 Cardlytics Inc CDLX whossayn, YarManYak 2 $66.28
146 CBS Corporation Common Stock VIAC 1987supertramp 1 $26.21
74 CD PROJEKT S A/ADR OTGLY Thtb 8 $28.50
229 CDW common stock CDW plorfu 1 $114.77
95 CEL-SCI Corporation CVM Golden_Pineapple 1 $12.19
242 Chegg Inc CHGG Boots2243 1 $86.98
36 Cloudflare Inc NET thereisnospoongeek, olliemacg, Boots2243 220 $40.06
80 COLLIER CREEK H/SH CL A CCH RIC_FLAIR-WOOO 5 $13.84
246 Coty Inc COTY NhatNguyen2112 1 $4.00
209 Cresco Labs Inc CRLBF UncleSlippyFist 1 $6.28
3 Crispr Therapeutics AG CRSP emtvaikkajoku 98 $89.81
142 Crown Castle International Corp CCI jkgator 1 $168.19
16 CureVac Pending IPO Tangerinho 8 #N/A
223 CVS Health Corp CVS handsomeandsmart_ 2 $64.96
65 Cyberark Software Ltd CYBR Kevenam 2 $110.59
239 CytoDyn Inc CYDY dufmum 1 $4.79
165 Daqo New Energy Corp DQ stonk_daddy 1 $122.55
241 DexCom, Inc. DXCM InformalAid 1 $440.70
6 Dicerna Pharmaceuticals Inc DRNA earthmoonsun 7 $21.03
73 Digital Turbine Inc APPS toop4 6 $22.59
130 Docusign Inc DOCU h3ku, Teach-101 0 $204.76
185 Draftkings Inc DKNG boomshalock 1 $34.09
39 Drive Shack Inc DS Bobjenkins97 2 $1.65
4 Editas Medicine Inc EDIT earthmoonsun 7 $34.71
145 Edwards Lifesciences Corp EW TheTubbyOlive 1 $76.94
139 EHang Holdings Ltd - ADR EH TheEUR0PEAN 1 $9.21
230 Electrameccanica Vehicles Corp SOLO IHaveUsernameBlock 1 $3.07
118 Elevate Credit Inc ELVT ScoreFuture 1 $2.58
218 Else Nutrition Holdings Inc BABYF PringlesAreUs 1 $1.36
85 Empire State Realty Trust Inc ESRT silverpaw1786 4 $6.66
21 Enphase Energy Inc ENPH deGoblin 31 $72.84
197 Equinix Inc EQIX gce1010 3 $791.70
86 Essent Group Ltd ESNT veggie-man 1 $35.82
235 Etsy Inc ETSY PeskyShart 1 $135.06
84 Fastly Inc FSLY AwesomeMathUse 3 $79.33
93 Federal National Mortgage Association FNMA figbuilding, onkel_axel 2 $2.12
168 Fire & Flower Holdings Corp TSE:FAF tobcar 1 $1.01
207 First Mining Gold Corp FFMGF RecCenterBall 0 $0.41
219 FLIR Systems, Inc. FLIR zerokarma 1 $37.48
52 Fluor Corporation (NEW) FLR lost_searching 2 $11.38
90 FORUM MERGER II/SH CL A FMCI Mug_of_coffee 3 $14.53
81 Franco Nevada Corp FNV AwesomeMathUse 1 $153.57
155 FuelCell Energy Inc FCEL i-kno-nothing, dewaser 2 $2.68
98 Games Workshop Group PLC OTCMKTS:GMWKF MAUSECOP, Thenattylimit 2 $120.95
115 GameStop Corp. GME EmployerOfTheMonth 2 $4.16
200 Gan Ltd GAN emcdeezy22 2 $20.29
159 General Motors Company GM Buttershine_Beta -1 $26.72
251 Genius Brands International Inc GNUS due11 1 $1.59
156 GFL Environmental Inc GFL lenadunhamsbutthole 1 $21.56
99 Gilead Sciences, Inc. GILD Leroy--Brown 1 $69.35
138 GLB X FUNDS/HEALTH & WELLNESS T BFIT Venhuizer 2 $20.69
126 GLB X FUNDS/VIDEO GAMES & ESPORTS E HERO sgtyzi 1 $26.00
186 Golden Minerals Co AUMN YEEEEEAAAAA 1 $0.44
151 Gran Colombia Gold Corp TSE:GCM Linnake 0 $7.46
67 Grayscale Bitcoin Trust (Btc) GBTC asherlevi 2 $13.06
234 Great Panther Mining Ltd GPL Tony0x01 1 $0.93
152 H&R Real Estate Investment Trust HR.UN CaptainCanuck93 0 $10.34
122 Helen of Troy Limited HELE aa341 1 $201.26
55 Hikma Pharmaceuticals Plc HKMPF Marvins-Room 1 $31.08
20 Horizon Therapeutics PLC HZNP thesearchforanswer 3 $76.06
103 Huntington Ingalls Industries Inc HII howtoreadspaghetti 1 $167.90
9 IAC/Interactivecorp IAC dvdmovie1 36 $133.05
61 Ibio Inc IBIO PrairieDogger69 1 $3.80
101 Immunovia AB (publ) IMMNOV jennyther 3 $161.60
108 Ingles Markets, Incorporated IMKTA kimjungoon 1 $42.97
77 Inmode Ltd INMD meta-cognizant, craneman813 4 $31.77
123 Innovative Industrial Properties Inc IIPR Dalis_Ktm 1 $114.63
201 Inseego Corp INSG esoccer141414 1 $12.08
214 Inspire Medical Systems Inc INSP JPINFV2 1 $104.92
134 Intel Corporation INTC ionlypwn, TitanCrasher54, niknikniknikniknik1 5 $48.03
5 Intellia Therapeutics Inc NTLA earthmoonsun 7 $19.83
164 Intuitive Surgical, Inc. ISRG swalloforswallo 2 $685.85
252 INVESCO EXCHANG/SOLAR ETF TAN z74al 2 $51.20
71 InVitae Corp NVTA emtvaikkajoku, CrackHeadRodeo 6 $28.43
228 ISHARES TGLB CLEAN ENERGY ET ICLN drheman25Q 1 $15.88
112 John B. Sanfilippo & Son, Inc. JBSS chris011186 2 $89.24
171 JPMorgan Chase & Co. JPM wrs97 1 $99.38
58 Jumia Technologies AG - ADR JMIA Jerund, souptrades, 7YearOldCodPlayer, CharlieBrown364, fortnitehead 7 $19.26
144 Kaleyra Inc KLR souptrades 1 $5.87
158 KEFI Minerals plc LON:KEFI Scipio-Africannabis- 1 $1.88
216 Kirkland Lake Gold Ltd KL Newusername 1 $52.58
238 Kroger Co KR bxkrish 1 $35.24
2 Lemonade Inc LMND br1ghtness, skkreet, hahadumblloyd 4 $66.84
15 Limelight Networks, Inc. LLNW cyberdex, thug_funnie 3 $6.10
63 Livongo Health Inc LVGO staniel_diverson, Raybay192, Drifter 1996, moveitover 22 $120.88
182 Logitech International SA LOGI CharlieBrown364 1 $73.03
217 LONZA GRP AG/ADR LZAGY Fuck512 1 $62.92
66 Lydall, Inc. LDL Henisockle 1 $20.89
191 Macerich Co MAC skvettlappen 1 $7.85
97 Magnachip Semiconductor Corp MX samtony234 1 $12.08
233 Mamamancini's Holdings Inc MMMB Jayesslee 1 $1.70
88 Match Group Inc MTCH BallinLikeImKobe24 1 $115.88
79 Maverix Metals Inc MMX AwesomeMathUse 1 $4.61
107 Maxar Technologies Inc MAXR Borne2Run 1 $24.74
221 Mediwound Ltd MDWD blueblade408 1 $3.91
34 Mercadolibre Inc MELI pontoumporcento 14 $1,193.97
161 Micron Technology, Inc. MU Wexoch 3 $48.75
253 Microsoft Corporation MSFT TBSchemer 34 $212.48
179 Millicom International Cellular SA(SWE) STO:TIGO-SDB joseph460 1 $245.50
116 Mills Music Trust Unit OTCMKTS:MMTRS ARGENT_UM_PUR 1 $39.00
10 Molson Coors Beverage Co Class B TAP howtoreadspaghetti 1 $37.27
170 Morgan Stanley MS wrs97 1 $50.35
127 Naspers Limited NPSNY Demandredz 1 $34.60
11 Nathan's Famous, Inc. NATH howtoreadspaghetti 1 $51.25
181 NCR Corporation NCR IAMBEOWULFF, fistymonkey1337 4 $20.11
211 NESTLE S A/S ADR NSRGY suburban_robot 1 $118.47
124 New Relic Inc NEWR Dalis_Ktm 1 $53.62
249 New York Mortgage Trust Inc NYMT ToKeepAndToHoldForev 1 $2.77
162 New York Times Co NYT jonhuang 1 $45.61
69 Nio Inc - ADR NIO makesalotofmoney, Carrera_GT, Charlie Brown364 3 $13.42
59 Nokia Oyj NOK perfectriot, LiabilityFree 52 $4.98
37 Novacyt SA ALNOV Snoopmatt 1 $3.60
254 Nuance Communications Inc. NUAN IwantmyMTZ 1 $29.48
13 NVIDIA Corporation NVDA TBSchemer, friedtea15 66 $447.98
198 NVR, Inc. NVR Linnake 1 $3,875.01
154 Okta Inc OKTA Bcr731 3 $208.23
160 Opko Health Inc. OPK CS1026 1 $5.63
100 ORSTED A/S/ADR DNNGY BrentfordFC21 2 $47.37
190 Otonomy Inc OTIC Unlucky-Prize 1 $3.56
46 Oxford BioMedica plc OXB arabidopsis 12 $850.00
121 Pacific Ethanol Inc PEIX adamtejot 1 $2.69
220 Pagerduty Inc PD throthrowth 2 $29.85
25 Pan African Resources plc PAF Fruity_Pineapple 2 $26.30
245 Paradox Interactive AB (publ) OTCMKTS:PRXXF I_worship_odin 1 $24.30
174 Patriot One Technologies Inc PTOTF DanReynolds 1 $0.73
148 Peabody Energy Corporation BTU aviatoraway1 0 $2.52
237 Peloton Interactive Inc PTON loosetingles 1 $68.30
188 Penn National Gaming, Inc PENN Calpool 1 $49.00
87 Pershing Square Tontine Holdings, Ltd NYSE:PSTH-UN 5_yr_lurker 7 $21.08
31 Pharmacyte Biotech Inc PMCB DillieTheSquid 0 $0.01
47 Pinterest Inc PINS EthanPhan 10 $34.98
149 Planet 13 Holdings Inc PLNHF MMatter1 3 $2.67
43 Plug Power Inc PLUG lukwas_ 4 $11.28
147 Polaris Infrastructure Inc RAMPF CaptainCanuck93 1 $11.50
120 Prologis Inc PLD ImPinkSnail 5 $105.07
250 PROSHARES TULTRA MSCI JAPAN EZJ Necessary_Club_6714 1 $32.13
132 PROSHARES TULTRAPRO QQQ TQQQ iggy555, Guiterrezjm6 5 $126.99
48 Proto Labs Inc PRLB JEesSs 3 $130.13
166 Purple Innovation Inc PRPL jloy88, CharlieBrown364, RemiMartin 6 $23.95
44 Raytheon Technologies Corp RTX anon2019L 21 $61.23
210 Razer Inc RAZFF ThatOneRedditBro 1 $0.22
32 Realty Income Corp O bushysmalls 5 $62.72
199 Redfin Corp RDFN shreddit47 8 $43.69
206 RENAULT S A/ADR RNLSY jw8700 1 $5.33
178 Retractable Technologies, Inc. RVP EmreCanPuns 1 $10.18
94 Rigel Pharmaceuticals, Inc. RIGL Gay_Demons 1 $2.58
203 Rite Aid Corporation RAD ManagerMilkshake 1 $15.05
12 Rocky Mountain Chocolate Factory, Inc. RMCF howtoreadspaghetti 1 $3.20
163 Schrodinger Inc SDGR TipasaNuptials, asianmarysue, RattleGoreBitcoin 1 $71.17
72 Sea Ltd SE scatterblodded, tradeintel828384839, thug_funnie, Meymo 16 $129.00
215 ServiceNow Inc NOW cookingboy 1 $431.21
189 Shiloh Industries, Inc. SHLO brainbroked 1 $1.40
82 Shopify Inc SHOP AwesomeMathUse -1 $1,053.12
213 Sibanye Stillwater Ltd SBSW marqui4me 1 $11.39
231 Simulations Plus, Inc. SLP hellohi3 1 $65.83
173 SiTime Corp SITM drbh_ 1 $58.92
248 Six Flags Entertainment Corp SIX EthosPathosLegos 1 $18.38
202 Slack Technologies Inc WORK AntwanDixon_ 2 $28.95
51 SmileDirectClub Inc SDC meeni131 3 $9.05
49 Solaredge Technologies Inc SEDG m4r1vs 14 $211.47
27 Sony Corp SNE drorhac 13 $80.03
177 Sorrento Therapeutics Inc SRNE DowJonesLocker 1 $14.42
225 SPARTAN ENERGY /SH SPAQ bigsexy12 1 $12.36
40 Spirit Airlines Incorporated SAVE Matous_Palecek 0 $17.28
153 Spotify Technology SA SPOT _Hard4Jesus 0 $252.12
7 Square Inc SQ cuti95, ConstructivePlayer, Lfastrsx, jercky, CharlieBrown364 21 $147.22
1 StoneCo Ltd STNE GromGrommeta 73 $49.06
104 SunPower Corporation SPWR Hadouukken 1 $11.86
60 Sunrun Inc RUN FactualNeutronStar 2 $46.00
195 Switch Inc SWCH gce1010 1 $18.03
83 Taal Distributed Information Techs Inc TAAL AwesomeMathUse 1 $1.85
76 Taiwan Semiconductor Mfg. Co. Ltd. TSM Paks_12345, sogladatwork, BlissfulThinkr 13 $80.03
102 Tandem Diabetes Care Inc TNDM liao24 1 $104.15
169 Target Corporation TGT Kosher-Bacon 1 $131.75
26 Tesla Inc TSLA Skurinator, goldcakes, redmars1234, Drortmeyer2017 3 $1,452.71
137 TJX Companies Inc TJX princess-smartypants 3 $55.45
18 Toronto-Dominion Bank TD robbierox123 0 $45.77
141 TPI Composites Inc TPIC polwas 1 $28.81
53 Trade Desk Inc TTD all_hail_hypno, Kay312010 6 $493.20
106 TransMedics Group Inc TMDX DropoutEngy 1 $18.05
131 TransUnion TRU AndyCircus 0 $87.38
78 Travelcenters of America Inc TA jk_tilt 1 $17.27
226 Trevena Inc TRVN pacosteles 1 $2.38
243 Trulieve Cannabis Corp TCNNF grphelps1, Cucumber_Cooling 2 $18.83
38 Tupperware Brands Corporation TUP Scumbaggedfriends 1 $14.98
68 Turtle Beach Corp HEAR chancsc11 1 $18.37
62 Twilio Inc TWLO MarconianRex 8 $249.00
41 Uber Technologies Inc Uber DukeBD2021 -1 $32.90
96 Unibail-Rodamco-Westfield SE URW eams66 2 $42.44
125 Universal Display Corporation OLED niknikniknikniknik1 1 $186.51
64 Valero Energy Corporation VLO chickenandcheesefart 1 $52.66
133 Vanguard Total Stock Market Index Fund Admiral Shares VTSAX WackyBeachJustice 1 $82.67
135 Veeva Systems Inc VEEV JohnSpartans 3 $261.22
193 Ventas, Inc. VTR Unlucky-Prize 1 $41.52
57 VirnetX Holding Corporation VHC vyts18 2 $5.26
172 VMware, Inc. VMW kingbrow2020 1 $142.31
50 VolitionRX Ltd VNRX RiDDDiK1337 1 $3.35
91 Waitr Holdings Inc WTRH exstaticj 1 $5.15
14 Walker & Dunlop, Inc. WD TBSchemer 0 $57.70
167 Walmart Inc WMT anthonyjh21 6 $129.97
30 Walt Disney Co DIS jadenmc2189, biz_student 6 $129.93
192 WELL Health Technologies Corp TSE:WELL Unlucky-Prize, IcemanVish 2 $4.49
105 Wells Fargo & Co WFC yehdhbdjdjd 1 $25.07
240 Westinghouse Air Brake Technologies Corp WAB warman506 1 $67.23
42 Wizz Air Holdings PLC WIZZ Matous_Palecek 2 $3,412.00
157 Workhorse Group Inc WKHS VisionsDB 5 $16.52
89 Xebec Adsorption Inc. XBC Mug_of_coffee 3 $4.95
232 Xpel Inc XPEL Bkazzle 1 $20.06
212 Yeti Holdings Inc YETI boomwhackers 1 $50.40
136 Zagg Inc ZAGG ni_shi_shei 2 $3.98
56 Zoetis Inc ZTS BearBearChooey 19 $158.88
submitted by Kme2 to investing [link] [comments]

The underrated stock survey: one month in on /r/investing investing prowess

Following my post from last month (https://www.reddit.com/investing/comments/i2thge/), please see below for an update on how everyone's picks are doing one month in.
Key takeaways:
  1. 253 picks are still active and being tracked
  2. Overall average return of -1.27%, with an equal weighted return of -1.25%
  3. Highest returning pick: Pacific Ethanol (PEIX), a COVID play made by adamtejot for +78%
  4. If you invested in the top 5 most upvoted stocks (NET, CRSP, STNE, NVDA, NOK), you would have seen a return of -8.9%
  5. If you invested in the top 5 most controversial stocks (TSLA, WD, AMD, LMND, UBER), you would have seen a return of 0.0%
  6. The top 10 gainers in order (PEIS, FMCI, TUP, BABYF, GME, WELL, CVAC, WKHS, KEFI, NIO) provided an average equal weighted return of ~49%
For a full list of performance as of NOON EST, see below:
ID Company Symbol Provided by Upvotes 8/7/2020 9/11/2020 Increase
121 Pacific Ethanol Inc PEIX adamtejot 1 $2.69 $4.78 78%
90 FORUM MERGER II/SH CL A FMCI Mug_of_coffee 3 $14.53 $25.38 75%
38 Tupperware Brands Corporation TUP Scumbaggedfriends 1 $14.98 $23.89 59%
218 Else Nutrition Holdings Inc BABYF PringlesAreUs 1 $1.36 $2.06 51%
115 GameStop Corp. GME EmployerOfTheMonth 2 $4.16 $6.12 47%
192 WELL Health Technologies Corp TSE:WELL Unlucky-Prize, IcemanVish 2 $4.49 $6.33 41%
157 Workhorse Group Inc WKHS VisionsDB 5 $16.52 $23.06 40%
16 CureVac CVAC Tangerinho 8 $55.90 $77.20 38%
158 KEFI Gold and Copper Plc LON:KEFI Scipio-Africannabis- 1 $1.88 $2.58 37%
69 Nio Inc - ADR NIO makesalotofmoney, Carrera_GT, Charlie Brown364 3 $13.42 $17.90 33%
144 Kaleyra Inc KLR souptrades 1 $5.87 $7.75 32%
237 Pelaton PTON loosetingles 1 $68.30 $89.44 31%
245 Paradox Interactive AB (publ) OTCMKTS:PRXXF I_worship_odin 1 $24.30 $31.70 30%
80 UTZ BRANDS INC/SH CL A NV UTZ RIC_FLAIR-WOOO 5 $13.84 $17.76 28%
194 10X Genomics Inc TXG Unlucky-Prize 1 $96.13 $123.17 28%
26 Tesla Inc TSLA Skurinator, goldcakes, redmars1234, Drortmeyer2017 3 $290.54 $371.75 28%
78 Travelcenters of America Inc TA jk_tilt 1 $17.27 $21.75 26%
185 Draftkings Inc DKNG boomshalock 1 $34.09 $42.80 26%
233 Mamamancini's Holdings Inc MMMB Jayesslee 1 $1.70 $2.10 24%
225 SPARTAN ENERGY /SH SPAQ bigsexy12 1 $12.36 $15.21 23%
214 Inspire Medical Systems Inc INSP JPINFV2 1 $104.92 $128.80 23%
51 SmileDirectClub Inc SDC meeni131 3 $9.05 $11.06 22%
60 Sunrun Inc RUN FactualNeutronStar 2 $46.00 $56.11 22%
101 Immunovia AB (publ) IMMNOV jennyther 3 $161.60 $197.00 22%
188 Penn National Gaming, Inc PENN Calpool 1 $49.00 $59.72 22%
213 Sibanye Stillwater Ltd SBSW marqui4me 1 $11.39 $13.74 21%
248 Six Flags Entertainment Corp SIX EthosPathosLegos 1 $18.38 $22.17 21%
232 Xpel Inc XPEL Bkazzle 1 $20.06 $24.16 20%
149 Planet 13 Holdings Inc PLNHF MMatter1 3 $2.67 $3.20 20%
71 InVitae Corp NVTA emtvaikkajoku, CrackHeadRodeo 6 $28.43 $33.28 17%
179 Millicom International Cellular SA(SWE) STO:TIGO-SDB joseph460 1 $245.50 $287.00 17%
48 Proto Labs Inc PRLB JEesSs 3 $130.13 $150.38 16%
22 Air Canada TSE:AC priamXus 0 $15.73 $18.02 15%
159 General Motors Company GM Buttershine_Beta -1 $26.72 $30.51 14%
148 Peabody Energy Corporation BTU aviatoraway1 0 $2.52 $2.84 13%
199 Redfin Corp RDFN shreddit47 8 $43.69 $49.15 12%
146 CBS Corporation Common Stock VIAC 1987supertramp 1 $26.21 $29.46 12%
109 Canadian Solar Inc. CSIQ MrMineHeads, vvv561 6 $25.32 $28.40 12%
169 Target Corporation TGT Kosher-Bacon 1 $131.75 $147.67 12%
41 Uber Technologies Inc Uber DukeBD2021 -1 $32.90 $36.72 12%
95 CEL-SCI Corporation CVM Golden_Pineapple 1 $12.19 $13.51 11%
55 Hikma Pharmaceuticals Plc HKMPF Marvins-Room 1 $31.08 $34.38 11%
17 Ally Financial Inc ALLY jcurtis44 1 $21.47 $23.71 10%
173 SiTime Corp SITM drbh_ 1 $58.92 $64.80 10%
190 Otonomy Inc OTIC Unlucky-Prize 1 $3.56 $3.90 10%
13 NVIDIA Corporation NVDA TBSchemer, friedtea15 66 $447.98 $490.43 9%
72 Sea Ltd SE scatterblodded, tradeintel828384839, thug_funnie, Meymo 16 $129.00 $141.21 9%
243 Trulieve Cannabis Corp TCNNF grphelps1, Cucumber_Cooling 2 $18.83 $20.49 9%
73 Digital Turbine Inc APPS toop4 6 $22.59 $24.51 8%
70 Alibaba Group Holding Ltd - ADR BABA helio987, ScreeMart, Necessary_Club_6714 -1 $252.10 $271.66 8%
206 RENAULT S A/ADR RNLSY jw8700 1 $5.33 $5.74 8%
234 Great Panther Mining Ltd GPL Tony0x01 1 $0.93 $1.00 8%
77 Inmode Ltd INMD meta-cognizant, craneman813 4 $31.77 $34.15 7%
97 Magnachip Semiconductor Corp MX samtony234 1 $12.08 $12.97 7%
79 Maverix Metals Inc MMX AwesomeMathUse 1 $4.61 $4.93 7%
145 Edwards Lifesciences Corp EW TheTubbyOlive 1 $76.94 $82.17 7%
250 PROSHARES TULTRA MSCI JAPAN EZJ Necessary_Club_6714 1 $32.13 $34.31 7%
98 Games Workshop Group PLC OTCMKTS:GMWKF MAUSECOP, Thenattylimit 2 $120.95 $129.15 7%
123 Innovative Industrial Properties Inc IIPR Dalis_Ktm 1 $114.63 $122.40 7%
167 Walmart Inc WMT anthonyjh21 6 $129.97 $137.78 6%
227 Cameco Corp CCJ jh4962772, Commandobolt, 3STmotivation 13 $10.37 $10.99 6%
18 Toronto-Dominion Bank TD robbierox123 0 $45.77 $48.26 5%
124 New Relic Inc NEWR Dalis_Ktm 1 $53.62 $56.52 5%
114 Brainstorm Cell Therapeutics Inc BCLI BigSexyTolo 2 $12.79 $13.47 5%
138 GLB X FUNDS/HEALTH & WELLNESS T BFIT Venhuizer 2 $20.69 $21.76 5%
45 Best Buy Co Inc BBY 1madeamistake 2 $102.90 $107.74 5%
193 Ventas, Inc. VTR Unlucky-Prize 1 $41.52 $43.43 5%
29 Berkshire Hathaway Inc. Class B BRK.B Jeroen_Jrn, Cuza 31 $209.48 $218.92 5%
215 ServiceNow Inc NOW cookingboy 1 $431.21 $450.52 4%
86 Essent Group Ltd ESNT veggie-man 1 $35.82 $37.39 4%
254 Nuance Communications Inc. NUAN IwantmyMTZ 1 $29.48 $30.77 4%
198 NVR, Inc. NVR Linnake 1 $3,875.01 $4,036.96 4%
1 StoneCo Ltd STNE GromGrommeta 73 $49.06 $51.07 4%
43 Plug Power Inc PLUG lukwas_ 4 $11.28 $11.72 4%
35 Beyond Meat Inc BYND Kreisensalat, _Flipside_ 8 $131.51 $136.50 4%
134 Intel Corporation INTC ionlypwn, TitanCrasher54, niknikniknikniknik1 5 $48.03 $49.85 4%
252 INVESCO EXCHANG/SOLAR ETF TAN z74al 2 $51.20 $52.99 3%
208 Blackline Inc BL veebeew 2 $79.26 $81.95 3%
117 Altria Group Inc MO ARGENT_UM_PUR, gm14202 1 $42.17 $43.58 3%
164 Intuitive Surgical, Inc. ISRG swalloforswallo 2 $685.85 $708.14 3%
83 Taal Distributed Information Techs Inc TAAL AwesomeMathUse 1 $1.85 $1.91 3%
19 Alexion Pharmaceuticals, Inc. ALXN fisk47 39 $103.28 $106.62 3%
75 Boston Beer Company Inc SAM Top_Island 2 $825.79 $850.00 3%
228 ISHARES TGLB CLEAN ENERGY ET ICLN drheman25Q 1 $15.88 $16.28 3%
87 Pershing Square Tontine Holdings, Ltd NYSE:PSTH-UN 5_yr_lurker 7 $21.08 $21.60 2%
30 Walt Disney Co DIS jadenmc2189, biz_student 6 $129.93 $133.00 2%
211 NESTLE S A/S ADR NSRGY suburban_robot 1 $118.47 $121.20 2%
186 Golden Minerals Co AUMN YEEEEEAAAAA 1 $0.44 $0.45 2%
102 Tandem Diabetes Care Inc TNDM liao24 1 $104.15 $106.48 2%
135 Veeva Systems Inc VEEV JohnSpartans 3 $261.22 $266.74 2%
231 Simulations Plus, Inc. SLP hellohi3 1 $65.83 $67.11 2%
92 Brookfield Asset Management Inc BAM duongroi, Avaronah 2 $32.32 $32.91 2%
127 Naspers Limited NPSNY Demandredz 1 $34.60 $35.19 2%
129 Aphria Inc APHA Aprhria, Bdghablig 1 $4.47 $4.54 2%
171 JPMorgan Chase & Co. JPM wrs97 1 $99.38 $100.86 1%
40 Spirit Airlines Incorporated SAVE Matous_Palecek 0 $17.28 $17.53 1%
240 Westinghouse Air Brake Technologies Corp WAB warman506 1 $67.23 $68.18 1%
204 Cardlytics Inc CDLX whossayn, YarManYak 2 $66.28 $67.21 1%
216 Kirkland Lake Gold Ltd KL New_username_ 1 $52.58 $53.30 1%
244 Axon Enterprise Inc AAXN ansofteng 1 $83.88 $84.93 1%
32 Realty Income Corp O bushysmalls 5 $62.72 $63.44 1%
42 Wizz Air Holdings PLC WIZZ Matous_Palecek 2 $3,412.00 $3,443.23 1%
170 Morgan Stanley MS wrs97 1 $50.35 $50.80 1%
126 GLB X FUNDS/VIDEO GAMES & ESPORTS E HERO sgtyzi 1 $26.00 $26.23 1%
119 Apple Inc. AAPL tcldstnvdw -1 $27.78 $112.00 1%
63 Livongo Health Inc LVGO staniel_diverson, Raybay192, Drifter 1996, moveitover 22 $120.88 $121.80 1%
181 NCR Corporation NCR IAMBEOWULFF, fistymonkey1337 4 $20.11 $20.23 1%
74 CD PROJEKT S A/ADR OTGLY Thtb 8 $28.50 $28.67 1%
56 Zoetis Inc ZTS BearBearChooey 19 $158.88 $159.53 0%
93 Federal National Mortgage Association FNMA figbuilding, onkel_axel 2 $2.12 $2.12 0%
31 Pharmacyte Biotech Inc PMCB DillieTheSquid 0 $0.01 $0.01 0%
172 VMware, Inc. VMW kingbrow2020 1 $142.31 $142.30 0%
47 Pinterest Inc PINS EthanPhan 10 $34.98 $34.93 0%
133 Vanguard Total Stock Market Index Fund Admiral Shares VTSAX WackyBeachJustice 1 $82.67 $82.32 0%
212 Yeti Holdings Inc YETI boomwhackers 1 $50.40 $50.14 -1%
196 Booz Allen Hamilton Holding Corporation BAH i_smel_hookers 1 $84.67 $84.23 -1%
238 Kroger Co KR bxkrish 1 $35.24 $35.02 -1%
44 Raytheon Technologies Corp RTX anon2019L 21 $61.23 $60.81 -1%
54 ASML Holding NV ASML EthosPathosLegos, earthmoonsun 15 $366.07 $363.20 -1%
37 Novacyt SA ALNOV Snoopmatt 1 $3.60 $3.57 -1%
76 Taiwan Semiconductor Mfg. Co. Ltd. TSM Paks_12345, sogladatwork, BlissfulThinkr 13 $80.03 $79.16 -1%
122 Helen of Troy Limited HELE aa341 1 $201.26 $199.02 -1%
11 Nathan's Famous, Inc. NATH howtoreadspaghetti 1 $51.25 $50.65 -1%
84 Fastly Inc FSLY AwesomeMathUse 3 $79.33 $78.31 -1%
110 AAR Corp. AIR paulo92834 4 $18.77 $18.49 -1%
166 Purple Innovation Inc PRPL jloy88, CharlieBrown364, RemiMartin 6 $23.95 $23.59 -2%
113 Atlassian Corporation PLC TEAM shadowrckts 1 $170.93 $168.23 -2%
33 BlackBerry Ltd BB mh1t, EthosPathosLegos 25 $4.84 $4.76 -2%
139 EHang Holdings Ltd - ADR EH TheEUR0PEAN 1 $9.21 $9.04 -2%
137 TJX Companies Inc TJX princess-smartypants 3 $55.45 $54.41 -2%
5 Intellia Therapeutics Inc NTLA earthmoonsun 7 $19.83 $19.45 -2%
140 Brookfield Renewable Partners LP BEP YourPineapplePunch 1 $45.25 $44.34 -2%
184 Ares Capital Corporation ARCC ThemChecks 1 $14.87 $14.54 -2%
143 American Tower Corp AMT editviewgo 1 $257.61 $251.69 -2%
132 PROSHARES TULTRAPRO QQQ TQQQ iggy555, Guiterrezjm6 5 $126.99 $124.06 -2%
46 Oxford BioMedica plc OXB arabidopsis 12 $850.00 $830.00 -2%
128 Bank of America Corp BAC oobydoobydoobydoo, wrs97 2 $26.11 $25.46 -2%
152 H&R Real Estate Investment Trust HR.UN CaptainCanuck93 0 $10.34 $10.08 -3%
229 CDW common stock CDW plorfu 1 $114.77 $111.47 -3%
130 Docusign Inc DOCU h3ku, Teach-101 0 $204.76 $198.75 -3%
253 Microsoft Corporation MSFT TBSchemer 34 $212.48 $205.65 -3%
153 Spotify Technology SA SPOT _Hard4Jesus 0 $252.12 $243.88 -3%
131 TransUnion TRU AndyCircus 0 $87.38 $84.47 -3%
100 ORSTED A/S/ADR DNNGY BrentfordFC21 2 $47.37 $45.79 -3%
105 Wells Fargo & Co WFC yehdhbdjdjd 1 $25.07 $24.20 -3%
111 1ST TR EXCHANGE/NASDAQ CEA CYBERSEC CIBR komoggmu321 1 $35.40 $34.07 -4%
162 New York Times Co NYT jonhuang 1 $45.61 $43.86 -4%
27 Sony Corp SNE drorhac 13 $80.03 $76.88 -4%
224 Avalara Inc AVLR nomdeplume_alias 1 $122.71 $117.82 -4%
23 Activision Blizzard, Inc. ATVI Mondanivalo 12 $82.47 $79.17 -4%
120 Prologis Inc PLD ImPinkSnail 5 $105.07 $100.65 -4%
81 Franco Nevada Corp FNV AwesomeMathUse 1 $153.57 $146.93 -4%
12 Rocky Mountain Chocolate Factory, Inc. RMCF howtoreadspaghetti 1 $3.20 $3.05 -5%
217 LONZA GRP AG/ADR LZAGY Fuck512 1 $62.92 $59.94 -5%
154 Okta Inc OKTA Bcr731 3 $208.23 $197.95 -5%
191 Macerich Co MAC skvettlappen 1 $7.85 $7.46 -5%
142 Crown Castle International Corp CCI jkgator 1 $168.19 $159.72 -5%
10 Molson Coors Beverage Co Class B TAP howtoreadspaghetti 1 $37.27 $35.28 -5%
197 Equinix Inc EQIX gce1010 3 $791.70 $749.23 -5%
99 Gilead Sciences, Inc. GILD Leroy--Brown 1 $69.35 $65.60 -5%
141 TPI Composites Inc TPIC polwas 1 $28.81 $27.25 -5%
161 Micron Technology, Inc. MU Wexoch 3 $48.75 $46.02 -6%
175 American Water Works Company Inc AWK InfamousLegato 1 $149.79 $141.35 -6%
50 VolitionRX Ltd VNRX RiDDDiK1337 1 $3.35 $3.16 -6%
7 Square Inc SQ cuti95, ConstructivePlayer, Lfastrsx, jercky, CharlieBrown364 21 $147.22 $138.87 -6%
182 Logitech International SA LOGI CharlieBrown364 1 $73.03 $68.88 -6%
68 Turtle Beach Corp HEAR chancsc11 1 $18.37 $17.30 -6%
57 VirnetX Holding Corporation VHC vyts18 2 $5.26 $4.95 -6%
107 Maxar Technologies Inc MAXR Borne2Run 1 $24.74 $23.27 -6%
20 Horizon Therapeutics PLC HZNP thesearchforanswer 3 $76.06 $71.16 -6%
106 TransMedics Group Inc TMDX DropoutEngy 1 $18.05 $16.84 -7%
156 GFL Environmental Inc GFL lenadunhamsbutthole 1 $21.56 $20.10 -7%
200 Gan Ltd GAN emcdeezy22 2 $20.29 $18.91 -7%
108 Ingles Markets, Incorporated IMKTA kimjungoon 1 $42.97 $40.01 -7%
9 IAC/Interactivecorp IAC dvdmovie1 36 $133.05 $123.03 -8%
209 Cresco Labs Inc CRLBF UncleSlippyFist 1 $6.28 $5.80 -8%
165 Daqo New Energy Corp DQ stonk_daddy 1 $122.55 $112.96 -8%
62 Twilio Inc TWLO MarconianRex 8 $249.00 $228.90 -8%
14 Walker & Dunlop, Inc. WD TBSchemer 0 $57.70 $52.84 -8%
246 Coty Inc COTY NhatNguyen2112 1 $4.00 $3.66 -9%
25 Pan African Resources plc PAF Fruity_Pineapple 2 $26.30 $24.00 -9%
219 FLIR Systems, Inc. FLIR _zerokarma_ 1 $37.48 $34.12 -9%
8 Advanced Micro Devices, Inc. AMD ArneGo, apqwer, LoveOfProfit 13 $84.85 $77.23 -9%
210 Razer Inc RAZFF ThatOneRedditBro 1 $0.22 $0.20 -9%
201 Inseego Corp INSG esoccer141414 1 $12.08 $10.95 -9%
21 Enphase Energy Inc ENPH deGoblin 31 $72.84 $65.93 -9%
88 Match Group Inc MTCH BallinLikeImKobe24 1 $115.88 $104.50 -10%
187 Brookfield Property Partners LP Unit BPY Onarco 1 $11.75 $10.59 -10%
94 Rigel Pharmaceuticals, Inc. RIGL Gay_Demons 1 $2.58 $2.32 -10%
85 Empire State Realty Trust Inc ESRT silverpaw1786 4 $6.66 $5.97 -10%
147 Polaris Infrastructure Inc RAMPF CaptainCanuck93 1 $11.50 $10.30 -10%
176 2U Inc TWOU DickDaddy 1 $41.49 $37.11 -11%
125 Universal Display Corporation OLED niknikniknikniknik1 1 $186.51 $166.37 -11%
104 SunPower Corporation SPWR Hadouukken 1 $7.77 $10.57 -11%
4 Editas Medicine Inc EDIT earthmoonsun 7 $34.71 $30.85 -11%
96 Unibail-Rodamco-Westfield SE URW eams66 2 $42.44 $37.64 -11%
223 CVS Health Corp CVS handsomeandsmart_ 2 $64.96 $57.57 -11%
24 Alteryx Inc AYX Kme2 30 $121.38 $107.55 -11%
202 Slack Technologies Inc WORK AntwanDixon_ 2 $28.95 $25.65 -11%
65 Cyberark Software Ltd CYBR Kevenam 2 $110.59 $97.84 -12%
116 Mills Music Trust Unit OTCMKTS:MMTRS ARGENT_UM_PUR 1 $39.00 $34.50 -12%
64 Valero Energy Corporation VLO chickenandcheesefart 1 $52.66 $46.50 -12%
151 Gran Colombia Gold Corp TSE:GCM Linnake 0 $7.46 $6.57 -12%
49 Solaredge Technologies Inc SEDG m4r1vs 14 $211.47 $185.52 -12%
249 New York Mortgage Trust Inc NYMT ToKeepAndToHoldForev 1 $2.77 $2.43 -12%
82 Shopify Inc SHOP AwesomeMathUse -1 $1,053.12 $919.50 -13%
241 DexCom, Inc. DXCM InformalAid 1 $440.70 $384.40 -13%
67 Grayscale Bitcoin Trust (Btc) GBTC asherlevi 2 $13.06 $11.39 -13%
34 Mercadolibre Inc MELI pontoumporcento 14 $1,193.97 $1,035.14 -13%
247 BELLUS Health Inc BLU NhatNguyen2112 1 $2.74 $2.37 -14%
112 John B. Sanfilippo & Son, Inc. JBSS chris011186 2 $89.24 $77.01 -14%
103 Huntington Ingalls Industries Inc HII howtoreadspaghetti 1 $167.90 $144.60 -14%
15 Limelight Networks, Inc. LLNW cyberdex, thug_funnie 3 $6.10 $5.23 -14%
118 Elevate Credit Inc ELVT ScoreFuture 1 $2.58 $2.21 -14%
239 CytoDyn Inc CYDY dufmum 1 $4.79 $4.10 -14%
28 Ageagle Aerial Systems Inc UAVS fishkillr 16 $3.26 $2.78 -15%
53 Trade Desk Inc TTD all_hail_hypno, Kay312010 6 $493.20 $419.05 -15%
36 Cloudflare Inc NET thereisnospoongeek, olliemacg, Boots2243 220 $40.06 $33.96 -15%
66 Lydall, Inc. LDL Henisockle 1 $20.89 $17.70 -15%
235 Etsy Inc ETSY PeskyShart 1 $135.06 $113.39 -16%
183 Anglo Asian Mining LON:AAZ krenaldi1 1 $161.50 $135.00 -16%
195 Switch Inc SWCH gce1010 1 $18.03 $15.01 -17%
168 Fire & Flower Holdings Corp TSE:FAF tobcar 1 $1.01 $0.84 -17%
221 Mediwound Ltd MDWD blueblade408 1 $3.91 $3.25 -17%
230 Electrameccanica Vehicles Corp SOLO IHaveUsernameBlock 1 $3.07 $2.55 -17%
207 First Mining Gold Corp FFMGF RecCenterBall 0 $0.41 $0.34 -17%
6 Dicerna Pharmaceuticals Inc DRNA earthmoonsun 7 $21.03 $17.40 -17%
59 Nokia Oyj NOK perfectriot, LiabilityFree 52 $4.98 $4.12 -17%
89 Xebec Adsorption Inc. XBC Mug_of_coffee 3 $4.95 $4.06 -18%
52 Fluor Corporation (NEW) FLR lost_searching 2 $11.38 $9.24 -19%
220 Pagerduty Inc PD throthrowth 2 $29.85 $23.94 -20%
236 Banco Bbva Argentina SA BBAR GAV17 1 $4.23 $3.35 -21%
155 FuelCell Energy Inc FCEL i-kno-nothing, dewaser 2 $2.68 $2.12 -21%
150 Aytu Bioscience Inc AYTU Bkzkilla2, beefy-ambulance, subaruveganguy22 2 $1.38 $1.09 -21%
203 Rite Aid Corporation RAD ManagerMilkshake 1 $15.05 $11.85 -21%
39 Drive Shack Inc DS Bobjenkins97 2 $1.65 $1.29 -22%
2 Lemonade Inc LMND br1ghtness, skkreet, hahadumblloyd 4 $66.84 $51.91 -22%
163 Schrodinger Inc SDGR TipasaNuptials, asianmarysue, RattleGoreBitcoin 1 $71.17 $54.99 -23%
3 Crispr Therapeutics AG CRSP emtvaikkajoku 98 $89.81 $68.54 -24%
242 Chegg Inc CHGG Boots2243 1 $86.98 $65.81 -24%
136 Zagg Inc ZAGG ni_shi_shei 2 $3.98 $2.98 -25%
226 Trevena Inc TRVN pacosteles 1 $2.38 $1.78 -25%
91 Waitr Holdings Inc WTRH exstaticj 1 $5.15 $3.75 -27%
174 Patriot One Technologies Inc PTOTF DanReynolds 1 $0.73 $0.53 -27%
180 ACM Research Inc ACMR moveitover 1 $101.92 $67.32 -34%
251 Genius Brands International Inc GNUS due11 1 $1.59 $1.02 -36%
205 Agraflora Organics International Inc AGRA spreeshark 1 $0.05 $0.03 -40%
178 Retractable Technologies, Inc. RVP EmreCanPuns 1 $10.18 $5.92 -42%
160 Opko Health Inc. OPK CS1026 1 $5.63 $3.02 -46%
61 Ibio Inc IBIO PrairieDogger69 1 $3.80 $1.92 -49%
222 Altimmune Inc ALT Spes-Caritas 1 $27.38 $12.13 -56%
58 Jumia Technologies AG - ADR JMIA Jerund, souptrades, 7YearOldCodPlayer, CharlieBrown364, fortnitehead 7 $19.26 $8.38 -56%
177 Sorrento Therapeutics Inc SRNE DowJonesLocker 1 $14.42 $6.27 -57%
As a reminder, please do not interpret results seen here as an endorsement of the investing prowess of the community. Invest at your own risk.
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