Decred aims to build a community-directed cryptocurrency whose security, adaptability, and sustainability make it a superior long-term store of value. It is achieving this aim by building the world's first truly decentralized autonomous organization.
Short beginner-friendly introduction to Bitcoin free from technical jargon that highlights both the positive and negative aspects, concluding that Bitcoin's neutrality is key to deliver its value proposition.
As you read on, keep these following points in mind as these rules apply even more closely:
What goes up must come down
Buy on rumors, sell on news
All markets are linked to everything else
To take this one step further and understand the markets from an even wider perspective, the next thing to do is to put on your market manipulator hat. Check out these 2 really good resources covering this topic for a deeper understanding of what I'm trying to get at:
The whole point of learning about how market manipulators operate is not to actually manipulate the markets yourself or conduct pump and dumps, but to actually spot when others are trying to do so. This can help your trading strategy in various ways such as to:
Have a better understanding of the ebbs and flows of the market
Avoid getting caught in their squeezes
Identify a suspicious (potentially profitable) market
Know what the "smartest man in the room" is doing, and follow the "smart money"
From Wolong's ebook, he broke down the market cycle into 7 stages, namely:
Re-allocation and distribution
Exiting - The Dump
If you compare the psychology chart above and the Pump & Dump cycle pointed out by Wolong, to the market structure chart below, you can see how they have very similar structures even though they use different terms to explain the phases. https://twitter.com/onemanatatime/status/457292179862343680/photo/1 And from this market structure chart, you can see that the stages can be further simplified to 4 phases:
So why is this important, or how does it apply to the cryptocurrency markets? By understanding the market cycle chart, you will be able to better pick altcoins by spotting accumulation zones to join the breakout and profit, and to make your exit when you reach distribution zones. Although many people disregard the profitability (or possibility) of using technical analysis to trade the Bitcoin and especially Altcoins markets, it is most definitely possible. I think the problem lies predominantly in the limitation that some of you have put on the term 'technical analysis'. Every piece of information on that chart you use is part of technical analysis; but the bigger question is how to make sense of it all. To better understand TA, we should think of the price charts as simply a graph of human behaviour. Although the tools to do so efficiently are sorely lacking at this point in time, here's just a few examples of TA used on Altcoins and Bitcoin...
I can't believe I have been in this space from 2017 and didn't bother to delve deeper into the lightening network. The fud from fake satoshi and clueless YouTubers at the time made me not look so much into it even after turning into a Maxi But man this feels like discovering Bitcoin again in its early years. The idea and technology behind LN is just beyond genius I felt really bullish about the LN which made me wonder which token should I buy now? Turns out it was just good old Sats Keep staking sats and learn about LN before the majority does A Technical Introduction To The Lightning Network by Andreas Antonopoulos
https://bitcoin.org/bitcoin.pdf I’m posting it because if you haven’t yet I think it’s important that everyone does. Save it, when you have time take a read. A lot of people jump into crypto only looking at charts, price and market cap. I think it’s important to understand the origins of it, not in a biblical sense like some people take it. Satoshi was a revolutionary thinker that changed the world forever. The philosophy behind crypto is subtly embedded in the bitcoin white paper and I get the sense that sometimes the true meaning behind crypto is forgotten, the philosophical value. While we are on the topic the Ethereum white paper is too long and technical to be considered a must read. You can get the understanding by reading the introduction, bitcoin comparison section and the conclusion. I will post that as well for comparison. https://ethereum.org/en/whitepape If you’ve gotten through those and you’re an avid reader I have a few books I would recommend. Bitcoin Billionaires was a very good book. Highly entertaining while also helpful to understand the story of Bitcoin. While told focused around the Winklevii who better to be the focus than the biggest whales in the game. Everything from Facebook, Mt Gox, parties, court rooms, prison and a success story for not only the Winklevoss twins but the story of the success of Bitcoin. https://www.goodreads.com/book/show/41433284-bitcoin-billionaires The Infinite Machine is sort of the equivalent for Ethereum. It is all about the origin story of Ethereum from birth to boom including the known characters and some connections maybe unknown to some. I would actually suggest reading this instead of the white paper. Camila Russo does a great job breaking it down in a way that can be understood. I also follow her Defi podcast The Defiant. https://www.goodreads.com/book/show/50175330-the-infinite-machine?ac=1&from_search=true&qid=W903QklCOW&rank=2 Mastering Monero, opinions of the coin aside, is very much worth reading. You will have a better understanding of privacy as a whole, not just privacy of Monero. From banking system explanations to dark web usage, or lack thereof, is covered in the book. It’s written by Monero users for Monero users and non Monero users. The Bitcoin mentions in the book aren’t FUD but instead written factually. It’s an easy enough read and it’s also available free or by donation. I donated for it but the PDF isn’t hard to get to. https://masteringmonero.com/free-download.html For the futurists, the dreamers and the hopefuls there is Blockchain 2025 written by Jared Tate. He speaks his mind and is honest as the sky is blue. He wrote the book not to promote DGB but moreso to discuss the role of blockchain beyond just cryptocurrency in the future. I’ve only just started it but so far it’s a good read. https://blockchain2035.com/ Another one, not crypto related, is The Wolf Of Wall Street by Jordan Belfort. “People don’t buy stock; it gets sold to them. Don’t ever forget that.” I also always reflect on the Mathew McConaughey movie monologue when I read the expert traders or see them on YouTube. It’s valuable to understand how the sharks in the system feed on the minnows. Do you have any reading suggestions?
https://preview.redd.it/al1gy9t9v9q51.png?width=424&format=png&auto=webp&s=b29a60402d30576a4fd95f592b392fae202026ca Hopefully any questions you have will be answered by the resources below, but if you have additional questions feel free to ask them in the comments. If you're quite technically-minded, the Zano whitepaper gives a thorough overview of Zano's design and its main features. So, what is Zano? In brief, Zano is a project started by the original developers of CryptoNote. Coins with market caps totalling well over a billion dollars (Monero, Haven, Loki and countless others) run upon the codebase they created. Zano is a continuation of their efforts to create the "perfect money", and brings a wealth of enhancements to their original CryptoNote code. Development happens at a lightning pace, as the Github activity shows, but Zano is still very much a work-in-progress. Let's cut right to it: Here's why you should pay attention to Zano over the next 12-18 months. Quoting from a recent update:
Anton Sokolov has recently joined the Zano team. ... For the last months Anton has been working on theoretical work dedicated to log-size ring signatures. These signatures theoretically allows for a logarithmic relationship between the number of decoys and the size/performance of transactions. This means that we can set mixins at a level from up to 1000, keeping the reasonable size and processing speed of transactions. This will take Zano’s privacy to a whole new level, and we believe this technology will turn out to be groundbreaking!
If successful, this scheme will make Zano the most private, powerful and performant CryptoNote implementation on the planet. Bar none. A quantum leap in privacy with a minimal increase in resource usage. And if there's one team capable of pulling it off, it's this one.
What else makes Zano special?
You mean aside from having "the Godfather of CryptoNote" as the project lead? ;) Actually, the calibre of the developers/researchers at Zano probably is the project's single greatest strength. Drawing on years of experience, they've made careful design choices, optimizing performance with an asynchronous core architecture, and flexibility and extensibility with a modular code structure. This means that the developers are able to build and iterate fast, refining features and adding new ones at a rate that makes bigger and better-funded teams look sluggish at best. Zano also has some unique features that set it apart from similar projects: Privacy Firstly, if you're familiar with CryptoNote you won't be surprised that Zano transactions are private. The perfect money is fungible, and therefore must be untraceable. Bitcoin, for the most part, does little to hide your transaction data from unscrupulous observers. With Zano, privacy is the default. The untraceability and unlinkability of Zano transactions come from its use of ring signatures and stealth addresses. What this means is that no outside observer is able to tell if two transactions were sent to the same address, and for each transaction there is a set of possible senders that make it impossible to determine who the real sender is. Hybrid PoW-PoS consensus mechanism Zano achieves an optimal level of security by utilizing both Proof of Work and Proof of Stake for consensus. By combining the two systems, it mitigates their individual vulnerabilities (see 51% attack and "nothing at stake" problem). For an attack on Zano to have even a remote chance of success the attacker would have to obtain not only a majority of hashing power, but also a majority of the coins involved in staking. The system and its design considerations are discussed at length in the whitepaper. Aliases Here's a stealth address: ZxDdULdxC7NRFYhCGdxkcTZoEGQoqvbZqcDHj5a7Gad8Y8wZKAGZZmVCUf9AvSPNMK68L8r8JfAfxP4z1GcFQVCS2Jb9wVzoe. I have a hard enough time remembering my phone number. Fortunately, Zano has an alias system that lets you register an address to a human-readable name. (@orsonj if you want to anonymously buy me a coffee) Multisig Multisignature (multisig) refers to requiring multiple keys to authorize a Zano transaction. It has a number of applications, such as dividing up responsibility for a single Zano wallet among multiple parties, or creating backups where loss of a single seed doesn't lead to loss of the wallet. Multisig and escrow are key components of the planned Decentralized Marketplace (see below), so consideration was given to each of them from the design stages. Thus Zano's multisig, rather than being tagged on at the wallet-level as an afterthought, is part of its its core architecture being incorporated at the protocol level. This base-layer integration means months won't be spent in the future on complicated refactoring efforts in order to integrate multisig into a codebase that wasn't designed for it. Plus, it makes it far easier for third-party developers to include multisig (implemented correctly) in any Zano wallets and applications they create in the future. (Double Deposit MAD) Escrow With Zano's escrow service you can create fully customizable p2p contracts that are designed to, once signed by participants, enforce adherence to their conditions in such a way that no trusted third-party escrow agent is required. https://preview.redd.it/jp4oghyhv9q51.png?width=1762&format=png&auto=webp&s=12a1e76f76f902ed328886283050e416db3838a5 The Particl project, aside from a couple of minor differences, uses an escrow scheme that works the same way, so I've borrowed the term they coined ("Double Deposit MAD Escrow") as I think it describes the scheme perfectly. The system requires participants to make additional deposits, which they will forfeit if there is any attempt to act in a way that breaches the terms of the contract. Full details can be found in the Escrow section of the whitepaper. The usefulness of multisig and the escrow system may not seem obvious at first, but as mentioned before they'll form the backbone of Zano's Decentralized Marketplace service (described in the next section).
What does the future hold for Zano?
The planned upgrade to Zano's privacy, mentioned at the start, is obviously one of the most exciting things the team is working on, but it's not the only thing. Zano Roadmap Decentralized Marketplace From the beginning, the Zano team's goal has been to create the perfect money. And money can't just be some vehicle for speculative investment, money must be used. To that end, the team have created a set of tools to make it as simple as possible for Zano to be integrated into eCommerce platforms. Zano's API’s and plugins are easy to use, allowing even those with very little coding experience to use them in their E-commerce-related ventures. The culmination of this effort will be a full Decentralized Anonymous Marketplace built on top of the Zano blockchain. Rather than being accessed via the wallet, it will act more as a service - Marketplace as a Service (MAAS) - for anyone who wishes to use it. The inclusion of a simple "snippet" of code into a website is all that's needed to become part a global decentralized, trustless and private E-commerce network. Atomic Swaps Just as Zano's marketplace will allow you to transact without needing to trust your counterparty, atomic swaps will let you to easily convert between Zano and other cyryptocurrencies without having to trust a third-party service such as a centralized exchange. On top of that, it will also lead to the way to Zano's inclusion in the many decentralized exchange (DEX) services that have emerged in recent years.
Where can I buy Zano?
Zano's currently listed on the following exchanges: https://coinmarketcap.com/currencies/zano/markets/ It goes without saying, neither I nor the Zano team work for any of the exchanges or can vouch for their reliability. Use at your own risk and never leave coins on a centralized exchange for longer than necessary. Your keys, your coins! If you have any old graphics cards lying around(both AMD & NVIDIA), then Zano is also mineable through its unique ProgPowZ algorithm. Here's a guide on how to get started. Once you have some Zano, you can safely store it in one of the desktop or mobile wallets (available for all major platforms).
How can I support Zano?
Zano has no marketing department, which is why this post has been written by some guy and not the "Chief Growth Engineer @ Zano Enterprises". The hard part is already done: there's a team of world class developers and researchers gathered here. But, at least at the current prices, the team's funds are enough to cover the cost of development and little more. So the job of publicizing the project falls to the community. If you have any experience in community building/growth hacking at another cryptocurrency or open source project, or if you're a Zano holder who would like to ensure the project's long-term success by helping to spread the word, then send me a pm. We need to get organized. Researchers and developers are also very welcome. Working at the cutting edge of mathematics and cryptography means Zano provides challenging and rewarding work for anyone in those fields. Please contact the project's Community Manager u/Jed_T if you're interested in joining the team. Social Links: Twitter Discord Server Telegram Group Medium blog I'll do my best to keep this post accurate and up to date. Message me please with any suggested improvements and leave any questions you have below. Welcome to the Zano community and the new decentralizedprivateeconomy!
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The Complete Short Bitcoin Course - Technical Analysis No 006. What is Cryptocurrency
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