Bitcoin could surge by up to 1,000% and reach $170,000 if it closes November’s monthly candle at or above $13,880, based on historic performance.
A popular Bitcoin analyst and trader pointed out that Bitcoin has historically headed towards massive price surges once it closed higher than the previous monthly high. As a result, BTC could face up to a 1,000% price pump soon if it closes November at or above its current price.
BTC To Pump By 1,000% Soon?
Bitcoin has been surging in value in the past month. The impressive performance led to several consecutive yearly records and reaching $16,000 last Friday – the highest BTC price displayed since early January 2018.
Bitcoin Price Chart (Image: NikonD300/MaxPixel)
Although the cryptocurrency has retraced since its peak and currently trades at about $15,400, the analyst Josh Rager suggested that the asset could soon skyrocket even further. Rager noted that “every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1,000% uptrend has followed.”
The first similar scenario highlighted in his graph occurred in 2013. BTC’s January monthly close was around $20, which coincided with the previous monthly high. Shortly after, the primary cryptocurrency spiked to about $150 – or a near 700% increase.
Somewhat identical events transpired on two more occasions in 2014 and during the parabolic price increase of 2017. The latter is also the current benchmark as BTC closed in December at about $13,880.
With Bitcoin’s price hovering above that level now, Rager believes that “November could be the first monthly close that we see breaking the previous high.”
Should his prediction materialize, Bitcoin will find itself in a six-digit price territory. The “modest” 700% increase will take BTC to $120,000, while the 1,000% surge will result in $170,000 per coin.
The American election is over, if not yet finally decided. But bitcoin (BTC) barely seemed to notice. It finished Election Day pretty much where it began — with within a few percent of USD 13,500.
That’s because basic economic reality remains unchanged.
Flagrant money-printing, once begun, is a tough habit to break. And debt has become so astronomical in size, the merest whiff of higher interest expense threatens to push vast swaths of the economy into bankruptcy.
That virtually guarantees near-zero interest rates will continue indefinitely.
This reality is causing a broad shift in sentiment toward crypto assets
Just a couple years ago, for example, investment market sentiment was overwhelmingly bearish. Talking heads on Bloomberg and CNBC routinely labelled crypto “the biggest bubble of all time.”
Warren Buffett famously said bitcoin was “rat poison squared.”
JPMorgan Chase & Co. CEO Jamie Dimon declared bitcoin a “fraud,” saying: “If you’re stupid enough to buy it, you’ll pay the price for it one day.”
Fast forward to the present, and how dramatically things have changed. Now, JPMorgan analysts say BTC has “significant upside,” as it competes with gold as an alternative reserve asset — especially among millennials.
Their conclusion:
“Even a modest crowding out of gold as an alternative currency over the longer term would imply doubling or tripling of the bitcoin price from here.”
Bitcoin’s price has broken $15,000—breaking highs not seen since the 2017 bull run. But what’s propelling this momentum?
In brief
Bitcoin’s price continues to rise, and institutional investment is a major reason for this increase.
The world’s most popular stablecoin Tether has also played a significant role.
Bitcoin is now closer to $20,000 than $10,000.
Bitcoin Network (Image: MaxPixel)
Institutional investment is one of the biggest reasons why Bitcoin’s price keeps going up. Bitcoin has added nearly $5,000 to its price in the last month, has shot up $2,000 in the last two days and is currently at around $15,600—quite the ride.
In August and September of this year, MicroStrategy invested a total of $425 million in Bitcoin. One month later, Square followed suit, investing $50 million in the famed cryptocurrency. Also in October, PayPal announced features that allowed users to trade in Bitcoin, as well as Ethereum, Litecoin and Bitcoin Cash. All of these high profile moves have worked wonders for Bitcoin’s explosive growth.
“The recent flurry of institutional activity—particularly the involvement of a household brand like PayPal—has undisputedly impacted the price of Bitcoin as mainstream interest and trust in this form of investment often increases following such news,”
Antoni Trenchev, managing partner of Nexo, told Decrypt.
This wave of mainstream interest, dubbed by Jason Deane, Bitcoin analyst at Quantum Economics, as the “MicroStrategy Effect” has provided several highlight moments in recent months.
Its adoption and acceptance has also grown exponentially
In the current century, everybody recognises Bitcoin as a success story that has changed our financial and economic system.
However, that has not always been the case. When the coin was initially developed, sceptics believed the coin was going to be a flash in the pan. But the coin has proven to be a huge success.
The value of the crypto asset has grown from $0.1 to its current over $15,000. Though it has not always been plain sailing, Bitcoin has always found a way to pull itself back whenever it experiences any low.
Bitcoin Electronic Money (Image: MaxPixel)
Considering what the coin has been able to achieve in recent times, especially when it comes to corporate adoption and also governmental efforts to ensure regulation in the industry, this could just be the defining moment for Bitcoin.
Why this moment is critical for Bitcoin
The argument that has always been in favor of Bitcoin has been the fact that the coin is decentralized. This has given the coin an enormous advantage over fiat currencies that are prone to government regulations.
Owners of Bitcoin have no need to worry about government interference or be scared of the government tendency to devalue its fiat currency. Bitcoin is immune to such interferences.
After predicting a significant bull run for Bitcoin and calling it a “life raft,” Raoul Pal discussed several issues within sectors of the traditional financial world.
Bitcoin Cryptocurrency (Image: MaxPixel)
Former hedge fund manager and CEO of Real Vision, Raoul Pal, believes that the real impact of the COVID-19 pandemic is about to reach the financial markets. By outlining several upcoming cornerstones among traditional financial assets, he highlighted Bitcoin as the “life raft” in this situation.
Raoul Pal: Everything Has Changed
In a recent Twitter thread, the Wall Street veteran outlined the rapidly growing COVID-19 cases worldwide. The total number of infected has neared 45 million, while the death toll is almost 1,2 million.
Pal predicted that these rising numbers in Europe, the US, and Canada are about to “exert economic pressures and extinguish the Hope phase of reflation dreams.” He believes that the upcoming consequences will harm the economy even more than the early 2020 developments. A real economic recovery “will take more than a post-election stimulus in January.”
He continued by looking at several markets that have started to feel the adverse consequences and have fallen to long-term support levels. Those included the oil price, Spain’s benchmark stock market index – the IBEX 35, the EU Banks Index, the euro, the British pound, the US dollar, and more.
As such, he broached a few possible solutions – “you can buy bonds and dollars, or you can take the life raft – Bitcoin.”
“Or, to dampen the volatility of a risk-off event (we can and will see sharp BTC corrections), you can have all three for a near-perfect portfolio for this phase.” – Pal concluded.
The sale and promotion of derivatives of bitcoin and other cryptocurrencies to amateur investors is being banned in the UK by the financial regulator, the Financial Conduct Authority (FCA).
It is a further blow to the burgeoning cryptocurrency market, coming soon after the US authorities indicted the owners of leading crypto derivatives exchange BitMEX for operating without being US-registered and allegedly failing to follow anti-money-laundering rules.
Forex Trading (Image: Sanandros/Wikimedia)
In view of recent findings from the University of Cambridge that most firms involved in crypto investments are still operating without a license, other operators are potentially vulnerable to indictments too.
It all sounds like bad news for anyone hoping that more investors will put money into cryptocurrencies. But on a closer inspection, I’m not so sure.
Drops and oceans?
The FCA is preventing retail investors from buying and selling the likes of cryptocurrency futures and options, which people often use as a way of hedging their bets on an underlying asset. For example, you might buy an option to sell a certain number of bitcoin at today’s price if the price falls by 10%, giving you an insurance policy in case the market moves against you.
The FCA said it was introducing the ban from January 6 because amateur investors were at risk of “sudden and unexpected losses”. The reasoning is that these people often don’t understand the market, there is lots of “market abuse and financial crime” in the sector, cryptocurrencies are very volatile and they are hard to value.
To stress, the ban is not being extended to professional traders or institutional firms like hedge funds, which have typically been allowed access to riskier financial products than the general population. It is about protecting people who might have been drawn to bitcoin thinking “it may be the currency of the future”, having “heard sensational news coverage about the rise and fall”. There are any number of splashy trading sites offering them quick and easy entry into this world, and YouTube influencers who enthusiastically encourage them to try complex trading.
Some 1.9 million people – around 4% of the adult population – own cryptocurrencies in the UK. Three-quarters have holdings worth less than GBP 1,000 (USD 1,305) and would certainly qualify as retail investors. We don’t know what proportion of UK investors use crypto derivatives, but we do know that the worldwide trade in these financial products was nearly a fifth of the total crypto market in 2019 (and has been growing rapidly in 2020).
Yet retail investors are probably not the main users of derivatives. Trading site eToro said earlier this year that maybe only a tenth of their retail investor spend was on this segment. And with most of the UK contingent using non-UK based exchanges, it’s easy enough to avoid FCA jurisdiction. The FCA says the ban could reduce annual losses and fees to investors by between GBP 19m and GBP 101m.
The ban also doesn’t make much difference at a worldwide level. The UK crypto market is small beer compared to global cryptocurrency holdings, which are worth around USD 400bn. You would not, therefore, have expected the FCA ban to have a material detrimental impact on the price of bitcoin or leading alternative coins like ethereum, and sure enough, it didn’t. In fact, it was widely expected by industry observers and had arguably already been priced in.
The largest cryptocurrency by market cap continued its upward spiral
Bitcoin’s price today hit highs of $13,329, according to metrics site CoinMarketCap. That’s Bitcoin’s highest price since last summer.
Bitcoin Price Chart (Image: NikonD300/MaxPixel)
Here’s the play-by-play: At 3:30 am UTC, Bitcoin’s price rose from $13,133 to hights of $13,329. The high lasted just two hours: at 5:44 am, Bitcoin’s price sunk like a stone to $12,996. Its current price is $12,961.
The last time Bitcoin’s price was this high was on June 26, 2019. Then, it peaked, ever so briefly, at $13,793, according to CoinMarketCap data.
Bitcoin maximalists’ victory today follows a particularly strong month for the largest cryptocurrency by market cap.
On October 6, Bitcoin’s price was around $10,600. But the price increased sharply this month to its peak today of $13,329. That’s an increase of about 25%.
Bitcoin’s price has thus more than tripled since that fateful day in the middle of March, when it momentarily crashed to just below $4,000 amid the market uncertainty caused by the coronavirus pandemic.
I’m a big fan of Bitcoin and over the years made many more buys than sells – in a nutshell, my default position, whether the market has gone up or down, has been to HODL.
However, that is starting to change – despite my view that I believe Bitcoin will go up in value hugely in the future. I am a long term Bitcoin bull and think that it will beat its all time high in the next few years.
In the short term, though, there’s no getting away from the fact that Bitcoin is going down. Despite a few rallies and spikes it has been dropping pretty consistently since the New Year, and now has half the value it did then (£5k vs £10k).
2018 Bitcoin Price on Trading View (Image: BIUK)
I had got used to the price of Bitcoin going steadily down and hadn’t thought too much about it. I had bought most of mine at £1k – £3k so I wasn’t bothered. Then on 25th July everything changed for me.
Oddly what woke me from my stupor was an email from BullionByPost telling me that the Gold price was beginning to climb. Was it particularly low, I wondered? I idly looked into it and found that, incredibly, at £935/ounce (spot price) it was at the lowest it had been for 8 months, and very nearly the lowest it had been for 18 months.That woke me up. Here I was sitting on a stack of Bitcoin slowly decreasing in value while missing out on other investments. Being a keen proponent of hedging, this made no sense.
I Immediately looked into the Bitcoin price, which I had ignored for some time, and saw that it had been rising, erratically, for exactly a month to a peak of £6400 but since 6am that morning (25th) had been dropping sharply. It was now mid evening.
Bitcoin Price on Trading View from 27 June to 27 July (Image: BIUK)
I took one Bitcoin out of cold storage (on a Ledger Nano) and transferred it to Pro.Coinbase. As soon as the transaction went through, at about 1130pm, I sold it. I got £6300.
By 0020 I had bought 7 one ounce gold coins for an average of £976 each. The total was £6343. That seemed like a very good hour’s work.
Just 36 hours later the value of Bitcoin had sunk to £6000. I decided it was time to start active trading again, if only to hedge against what seemed like inevitable losses if I kept staying out of the market.
I came up with a plan to offload Bitcoin at the best price I could get, ready to buy it back once it had gone lower.
In 1987’s Black Monday stock market crash, Sam Walton, the world’s richest man, lost more than half a billion dollars in a few hours.
When reached for comment, Walton said, “It’s paper anyway. As far as I’m concerned we’re focusing totally on the company doing well and taking care of our customers.”
He didn’t care about dollars; he cared about his asset Wal-Mart, and he still owned that.
History of the #HODL
In bitcoin’s volatile and roller coaster past, “HODL” was the meme that bound the cryptocurrency community together. It stood for the proposition that we all believe in the future of bitcoin. It’s both funny and insightful.
Bitcoin Cryptocurrency (Image: MaxPixel)
Here is the original post by GameKyuubi on a Bitcoin Talk forum (spelling errors and profanity included):
I AM HODLING
I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e. GF’s out at a lesbian bar, BTC crashing WHY AM I HOLDING? I’LL TELL YOU WHY. It’s because I’m a bad trader and I KNOW I’M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro. Likewise the weak hands are like OH NO IT’S GOING DOWN I’M GONNA SELL he he he and then they’re like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY’RE DOING buy back in but you know what? I’m not part of that group. When the traders buy back in I’m already part of the market capital so GUESS WHO YOU’RE CHEATING day traders NOT ME~! Those taunt threads saying “OHH YOU SHOULD HAVE SOLD” YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.
so i’ve had some whiskey
actually on the bottle it’s spelled whisky
w/e
sue me
(But only if it’s payable in BTC)
It was not about bitcoin versus bitcoin cash or 1,000 other cryptocurrencies. It was bitcoin vs. the world and we ALL embraced it.
It only took 11 minutes for this post to become a meme that became the rallying cry for the entire crypto world. We were all on the same rollercoaster ride and GameKyuubi, in the depths of his frustration, had (sort of) elegantly articulated both what it feels like and the best trading strategy for an asset this volatile.
The answer is: it depends. There’s a wide range. Based on my model you can make as little as $900 or as much as $2 million in 1 year. It depends on a variety of factors including: the original claim amount, the number of times you claim a day, the number of referrals you have, the number of times your referrals claim a day, loyalty days and a number of other factors, not to mention the price of crypto.
I had to create a calculator to figure it all out. Within the calculator I’ve created scenarios that help to understand how the different factors above can impact your daily claim amount. These scenarios are labeled min, mid and max. The min scenario represents the person who puts forth the least amount of effort. The max scenario models out the power user with the highest amount of activity. The mid scenario is somewhere in between.
Here’s a quick slide to help explain each scenario:
In other words, Min activity is just mailing it in with one click a day. Mid activity is someone with 100 referrals making between 25 and 48 claims a day, and Max activity is someone who’s maxing out every claim. I like to the think of Min as a lower limit, Max as an upper limit and Mid as an average.
Next, I annualized the daily claim amount from each faucet calculator under each scenario, made a forecast of crypto currencies one year from today and these are the results.
The Results
The first set of results provides an estimate of how much you can make if crypto prices remain the same as they are today.
As you can see from the boxes highlighted in yellow, the minimum amount you can make is around $900, the middle point is around $10K and the max is almost $70K.
1 year estimate of what you can make using Coinpot faucets based on current cryptocurrency prices
So, another way to interpret the results is:
If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $900, providing prices remain the same.
If you make 24–48 claims per day with 100 referrals doing the same thing, you can make $10K, providing prices remain the same.
If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make $70K, providing prices remain the same.
The thing about crypto is that the price does not stay the same. As much as I like free money I wouldn’t be advising you to do this for $900 a year?—?though that’s nothing to sneeze at, especially if it’s free. Early investors of Bitcoin paid just $.06 for a Bitcoin. A $100 investment seven years ago would be worth $28 million today. It is highly unlikely that crypto prices in one year will be what they are today.
What if crypto prices grew 30% on average? The following chart shows what happens to the value of your crypto holdings if crypto prices at the end of 2018 are 30% higher than they are today.
1 year estimate of what you can make using Coinpot faucets based on 30% increase in cryptocurrency prices
If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $1,100 with a 30% increase in prices.
If you make 24–48 claims per day with 100 referrals doing the same thing, you can make ~$13K with a 30% increase in prices.
If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make ~$90K with a 30% increase in prices.
This is amazing, but again, I wouldn’t be telling you to do this for $1,100. The reason people are interested in cryptos, the reason why people are taking out a mortgage on their home (DO NOT DO THAT) to invest in cryptocurrency is because of the exponential growth rates. Bitcoin, Dash, Litecoin and Dogecoin all grew by 1326%, 5935%, 5215% and 3916%, respectively, over the last year (Bitcoin Cash just started in late July/early Aug.).
This is amazing growth and there’s a chance it won’t ever happen again, but cryptos have been on a growth trend for the past five years so I don’t think last year was a fluke. Here’s a chart showing the pace of growth in the crypto market over the last 5 years.
Cryptocurrencies have grown exponentially over the last five years
As you can see, market capitalization grew from $8.8 billion in 2013 to $221 billion in 2017. 2014 was a bad year, but all other years saw phenomenal gains. Now that the word is out about the use value of cryptos, I believe the growth trend will continue to grow exponentially.
So what if the cryptos in your Coinpot portfolio grow at the same level they grew at last year in 2018? These are the results:
If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $13K if prices grow the same rate as they did last year.
If you make 24–48 claims per day with 100 referrals doing the same, you can make ~$240K if prices grow the same rate as they did last year.
If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make ~$2 million if prices grow the same rate as they did last year. Note: there is no max on referrals so this could be higher.
Cryptos may not be able to keep up the bull run they had last year, but if they do it means you could be sitting on a nice portfolio of crypto by the end of the year without spending a dime.
Here’s a quick overview slide of all three price scenarios.
The amount you make depends on the level of activity of you and your referrals
No matter what the scenario, in terms of activity level or price, Coinpot is a great way to invest in cryptocurrency without incurring any risk. It’s also great for people that are new to the cryptocurrency world. You don’t have to buy anything or set anything up. It’s all been done for you and it’s all free. All you need is a computer and an email address. To be clear, not all faucets are like Coinpot, so be careful. The reason I chose Coinpot for this experiment is due to its ease of use and credibility. I’m currently working on a few others and will send out a post when that happens.
How To Sign Up For & Maximize Coinpot Faucets
So now that you see the potential, these are the steps to sign up and get started:
Step 1: Sign up for a Coinpot MicroWallet (https://coinpot.co/). This is where each faucet will send your “claim”. When you reach your withdrawal minimum, you will want to move your crypto currency from your software wallet (CoinPot) to another wallet.
Step 2: Sign up with each of the following faucets. Each one of these faucets is already connected to your Coinpot MicroWallet. As long as you sign up with the same email address you used to sign up for your Coinpot, they are automatically connected. Play around with each faucet a bit to get a feel for how this works. Please use my referral codes to sign up for the faucet.
Step 3: Optimize your claim amount on each faucet. I’ve modeled out the performance of each faucet.
Each faucet has its own incentive structure. In general there are two different structures. Your goal is to maximize the claim by paying attention to rewards:
This is a unique faucet. It pays out in Bitcoin. It is the only incentive structure with 5 different bonus categories. Each bonus category gives you the ability to double your claim amount. It also pays at 50% for referrals. This makes Moon Bitcoin one of the best opportunities in the Coinpot faucet network. In addition to referrals, Moon Bitcoin also rewards the following:
1) Loyalty bonus?—?Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
2) Referral bonus?—?Action: refer at least 100 people to take full advantage of the referral bonus.
In addition to getting 50% of your referral’s claims, you also get a 1% bonus for every person you sign up?—?up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
3) Offer Bonus?—?Action: do 10 offers to take full advantage of the 100% claim bonus. This bonus has a ceiling of 10 offers.
4) Mystery Bonus?—?Do nothing and earn this bonus.
5) Mining Bonus?—?Mine on your computer for a 100% bonus depending on your hash rate. This is new.
There’s one other thing that is absolutely critical in your claim amount. This is true for all 6 faucets?—?the number of times you claim can drastically increase your daily claim amount. For example, based on the current claim rate which is published on the Moon Bitcoin site, if you claim every 5 minutes for 4 weeks you get 16,128 satoshi (assuming no referrals or bonus opportunities). However, if you claim every 4 weeks you get 111 satoshi.
The key to optimizing this faucet is to claim every 25 minutes or so. This is the max out time, not 5 minutes. This may change, but current claim rates show that there is no benefit to claiming at smaller time intervals. You don’t start to make less satoshi until you wait for 30 minutes or more. So you can claim more often, but you won’t make any more than if you claim every 25 minutes (I say 25 because you don’t want to wait until the last minute). This makes MoonBitcoin one of the easier Moon faucets to reach maximum claims on. If you can’t claim every 25 min, at least claim once a day for the loyalty bonus. You want to do 10 offers to take advantage of the offer bonus. You can also get a bonus for mining on your computer. Focusing on these actions can greatly increase your claims.
Moon Dogecoin is like Moon Bitcoin, but pays out in Dogecoin. All the Moon faucets have the same basic structure, but not as many bonus options.
1) Loyalty bonus?—?Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
2) Referral bonus?—?Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up?—?up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
3) Mystery Bonus?—?Do nothing and earn this bonus.
The key to optimizing this faucet is to claim every 25 minutes or so. This is the max out time, not 5 minutes. This may change, but current claim rates show that there is no benefit to claiming at smaller time intervals. You don’t start to make less dogecoin until you wait for 30 minutes or more. So you can claim more often, but you won’t make any more than if you claim every 25 minutes. I say 25 min because you don’t want to wait until the last minute. If you can’t claim every 25 min, at least claim once a day for the loyalty bonus. This makes MoonDoge one of the easier Moon faucets to reach maximum claims on. You want to refer at least 100 people to take advantage of the referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
Moon Litecoin is the same as Moon Dash (see below), but it pays out in Litecoin. Though it has a similar bonus structure to MoonDoge and MoonBitcoin, it requires more claims to max out.
1) Loyalty bonus?—?Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
2) Referral bonus?—?Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up?—?up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
3) Mystery Bonus?—?Do nothing and earn this bonus.
The key to optimizing this faucet is to claim at least once a day for the loyalty bonus. To maximize this claim you need to claim every 5 minutes or 288 claims per day which is the highest of any faucet except Moon Dash. This makes MoonLitecoin and MoonDash slightly harder than the other Moon faucets, but not by much. You want to refer 100 people to ms of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
Newest faucet. The bonus structure is the same as MoonDoge and MoonLitecoin, but pays out in Bitcoin Cash. You can optimize your daily claims by doing the following:
1) Loyalty bonus?—?Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
2) Referral bonus?—?Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up?—?up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
3) Mystery Bonus?—?Do nothing and earn this bonus.
The key to optimizing this faucet is to claim every 25 minutes or so. This is the max out time, not 5 minutes. This may change, but current claim rates show there is no benefit to claiming at smaller time intervals. You don’t make less satoshi until you wait for 30 minutes or more. So you can claim more often, but you won’t make any more than if you claim every 25 minutes. I say 25 min because you don’t want to wait until the last minute. If you can’t claim every 25 min, at least claim once a day for the loyalty bonus. This makes MoonCash one of the easier Moon faucets to reach maximum claims on. You also want to refer 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
MoonDash is the same as MoonLitecoin, but it pays out in Dash.
1) Loyalty bonus?—?Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
2) Referral bonus?—?Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up?—?up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
3) Mystery Bonus?—?Do nothing and earn this bonus.
The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. To maximize this claim you need to claim every 5 minutes or 288 claims per day which is the highest of any faucet except Moon Dash. This makes MoonLitecoin and MoonDash slightly harder than the other two faucets. You want to refer 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
Bitfun is slightly different. It pays out in Bitcoin at a higher rate than MoonBitcoin and has no limitations on claim time. You can also play games and do offers. Playing games does not increase faucet amount rate, however.
Referral bonus?—?Action: refer as many people as possible to take advantage of the 50% commission.
The key to optimizing this faucet is to claim around 4hrs, but there is no loyalty bonus. You want to refer as many people as you can to take advantage of the 50% referral commission. Focusing on these actions can greatly increase your claims.
Bonus Bitcoinpays out in Bitcoin. The amount you can claim varies, but you can get a bonus of 5% on all your claims and referrals for the past 3 days as long as you make a claim every day. You can only make a claim every 15 minutes.
Referral bonus?—?Action: refer as many people as possible to take advantage of the 50% commission.
The key to optimizing this faucet is to claim as often as you can every 15 min. You want to refer as many people as you can to take advantage of the 50% referral commission and the 72 hr loyalty bonus. Focusing on these actions can greatly increase your claims.
Step 4: Final Step
Take what I’ve written here and make it your own. You have full license to plagiarize all you want. First, replace my referral codes with your own referral codes (please let me know if you need help finding your codes). Send it out to your friends and family. Set up a seminar at your community center or library. Send it out on Facebook/Twitter/Instagram.If you do add additional faucets to your list, be sure to vet them out for your base.
The world of investments is largely cut off from people that don’t have the means, but crypto isn’t. I have family and friends on both sides of the wealth spectrum and this is a great way for both to accumulate coins. Those that have money, but are worried about Bitcoin’s viability, can use faucets as a no risk way to participate in the crypto boom. Those that don’t have the money can also use this as a way to participate.
Translation: If you don’t have $1 million (or even $10,000), Coinpot is a great way to build a diversified portfolio of high potential crypto. It is a portfolio strategy in and of itself.
Bitcoin, Bitcoin Cash, Litecoin, Dash and Dogecoin represent a good cross-section of cryptos available on the market today. The only one that’s missing is Ethereum and I’m looking for a good Ethereum faucet to recommend now.
I will also warn that the learning curve for crypto is steep, but you don’t have to know any of that for Coinpot. Coinpot is a wallet and the faucets it supports are already set up to deposit directly into your Coinpot wallet?—?real time. It couldn’t be any easier.
Update (1/27/18)
As a corollary I wanted to follow up with a very important piece of the crypto puzzle?—?security. You need to keep your crypto safe?—?it’s not safe in Coinpot once you make more than the threshold limits. So you have some time before security becomes an issue, and the amounts you are making are small, but don’t use that as a reason to get sloppy on security. Use the time it takes to reach the threshold to learn more about security.
The threshold limit varies for each coin. According to the website, “Withdrawal requests are processed and paid directly to your wallet within 48 hours.” In my experience, it’s much faster.
These are the current withdrawal threshold limits which can be found on Coinpot when you click on “Withdraw”:
Bitcoin?—?10,000 satoshi (.00010000)
Bitcoin Cash?—?10,000 satoshi (.00010000)
Litecoin?—?200,000 latoshi (.00200000)
Dash?—?20,000 duffs (.00020000)
Dogecoin?—?50 dogecoin?—?side note: you can only withdraw dogecoin to a dogecoin wallet (for free). Then you can transfer to your main wallet.
Once you reach the threshold, you should withdraw your coin to a safe wallet. This is the best article I’ve found on crypto wallets: https://blockgeeks.com/guides/cryptocurrency-wallet-guide/. It also recommends a few wallets and explains what your options are far better than I can.
Once you decide on one of these wallets, you need to follow that wallet’s instructions for receiving or depositing funds. These instructions are very important?—?do not skip this part.
Your new wallet will give you an address in order to deposit funds. Each address is specific to a certain coin. In other words, you have a different address for each coin. Copy the address and put it in the “withdrawal box” in Coinpot. You want to copy your address and put it in the box.
You’re not done yet. Once you make this request, Coinpot will send you a verification email to confirm your request as an extra layer of security. If you don’t click the link, the withdrawal will not occur.
Update #2 (3/22/18):
When I first started this it took a few weeks to reach my threshold, now it takes a few days (if that). Instead of transferring coins to my wallet (which can be tedious), I’ve put a 2FA code on my Coinpot account which adds an extra layer of security. I highly recommend you do the same. If you need help with this step send me a note.
That’s it. Hope it helps. As always, let me know if you have any questions.
Update #3 (5/2/2018):
This is just a quick update to let you know where I am and what I think about Coinpot so far.
Today, Bitcoin, BCH, Dash, Litecoin and Doge are all trading at the following prices:
Bitcoin: $9,163 (down from $12,326 on 1/23/18)
BCH: $1,468 (down from $1,886 on 1/23/18)
Dash: $471 (down from $881 on 1/23/18)
Litecoin: $149 (down from $200 on 1/23/18)
Doge: $0.005245 (down from $0.007962 on 1/23/18)
What’s the common theme? Prices are down across the board.
To make matters worse, I missed making a claim on day 99 and my loyalty percentage reset. I was furious.
So, why am I still thrilled about Coinpot?
Well, for starters, my inability to claim on day 99 isn’t Coinpot’s fault. More importantly, I believe crypto is the future. I echo the same belief system as Andreas Antonopoulos “Bitcoin Jesus”. (see video below)
My interest and investment in bitcoin are about more than value. That said, I believe cryptocurrency, with bitcoin as its leader, has the potential to give the world an offer it can’t refuse (Godfather). In this way, the drop in price is nothing but an opportunity in my eyes.
Remember:
Bitcoin traded at 6 cents for most of 2010.
$100 in bitcoins on Jan. 1, 2011 bought you 333.33 bitcoins.
On June 8, 2011, bitcoin hit a high of $31.91, making the paper value of your $100 investment about $10,500.
Today, bitcoin is valued at $9,163 so your $100 investment in 2011 is worth ~$3 million.
How much have I made over the last 4 months? I’ve made a little over $30 by checking in once a day. I also have approximately 30 referrals on each faucet. It doesn’t sound like much. And, it’s a far cry from $900, but I’m not concerned. The potential is still there. With the drop in price, the potential is even greater.
While I won’t be optimizing loyalty points (read: making daily claims), I’ll be sure to provide another update in a few months.
Update #4 (7/11/2018): $100 milestone
Quick update, I hit a $100 milestone today and wanted to share the good news. About 75% of that is in Bitcoin and the rest is in Dash, Doge, Litecoin and Cash. Am I anywhere near $900? No, but Bitcoin has dropped in value since I started this. That would be a concern if I didn’t think Bitcoin was the new gold. So, a drop in price is an opportunity when it comes to faucets and investing. And, Coinbase just added 10 customers for its new crypto custody service. What does this mean? It means institutional investors can now get on board. Woot! Woot! I hope you’re having as much fun as I am!
