All the charts look amazing and new highs are being set all over the place, usually in dollars but in some cases the BTC values are looking pretty awesome too. We've seen a lot of gains already and may seem more, but I'm always on the lookout for that one coin that hasn't had it's explosive growth yet. I think I've identified a potential one in Raiden Network Tokens (RDN).
BOTTOM = BEST BUY
It's real simple really: Buy low, sell high. Find a crypto that you know must go up eventually, wait for the hype to cool off and the bear market to set in. Then when everybody is ignoring that crypto and has more or less forgotten about it, and when the chart looks like it's at the bottom: that's when you buy.So when I saw RDN tokens entering the market and going up, losing steam and then dropping down to bottom out, I started buying.
Below is the RDN-BTC chart on Binance:
There is no more trading history, because this coin is no older than this. But it does look to me like it certainly bottomed out and is heading back up. The ETH-RDN chart looks even tastier, and in fact entered RDN through ETH and noticed it there first:
Especially on the RDN-ETH chart it looks like it has definitely bottomed out and now has a lot of upside potential and the beginnings of an upward trend. On the RDN-BTC charts the upward trend is already clearly started. Since Raiden Network is an Ethereum oriented and based token, I think the link between it's price and Ethereum may be more important than it's link to the Bitcoin price. The reason for the upward price action in the RDN-BTC price is, in my opinion, more of a result of Ethereum gaining strength rather than RDN gaining price.
DO IT WITH A GREAT PROJECT
And the Raiden Network is a great project! We all know the problems with scaling and high transaction fees on pretty much all the major blockchains. Lightning channel is much anticipated for Bitcoin..... but Raiden Network is the Lightning network for Ethereum. And as opposed to the Lightning network, Raiden network does have it's own token to invest in.What Lightning Network for BTC, Raiden Network for ETH, and Trinity for NEO, do is that they allow for the creation of payment channels. These are often explained as working like a 'bar tab' where you order drinks multiple times from a barman, but only actually settle the transaction at the end of the day. It will allow for numerous movements of funds that are essentially free of charge, and will only cost 1 transaction cost: when you open/close the channel, but not during it's usage.
The way the 'bar tab'/ledger works is that enough value needs to be stored on the ledger in order to shove it back and forth between different parties. For example if I wanted to send 1 Bitcoin to you through the Lightning Network, the payment channel on the Lightning Network which we use needs to have at least 1 BTC in it.
That means the Lightning Network, or indeed Raiden Network, can transfer only as much value as the value that is stored in the payment channel. For the Raiden Network that means that the payment channels can only handle as much value transfer, as the total amount of value of the RDN tokens stored in the Raiden payment channel. If you want to send 1 million worth of ETH through Raiden, you will need 1 million worth of RDN to do it, if I am not mistaken.
If you believe that Raiden Network/Lightning Network will be huge in the future (I think some DEXes , or stuff like CryptoKitties may use them), then RDN is a great token to invest in.
And if you're not fully convinced yet, let me point this out to you:
The Raiden Network currently has a little over $250 million market cap. That's super tiny in today's market where Dogecoin has $1 billion. I'm pretty damn sure that Raiden Network will be up a lot in the future.
Of course, finding a good buy doesn't necessarily make it the right time for that buy. Getting out of Ethereum and stepping into RDN may be risky as Ethereum is on a much bigger bullrun than Raiden Network is. However I also feel like Ethereum has at most another 10-20% to gain, whereas Raiden Network seems like it can easily double, especially because Ethereum has been going up.
I have not invested a lot of money and don't consider it to be my core holdings, but I did buy and will continue to buy more RDN during the dips if I see the chance. It looks good to me, both the charts and the concept.
Good looking chart right there. Could form a cup and handle soon which is very bullish!
Yes, that's what I'm hoping for!
Or, actually I am expecting it, since Raiden is a pretty solid project and $200M is undervalued for something like this I think!
Thanks for all your support @pbgreenpoint!! I really appreciate it :)
We had some technical difficulties... Some days are better than others. I learn something new almost every time I read your posts. Thank you for making some tough concepts easily digestible.
You're welcome!
I plan to read through your whitepaper asap. Have a new job in RL so I have to split my time a bit too !
Same boat here I'm hopeful one day me and a few other guys can just work on the SteemThat.com project. That would be awesome. Maybe just trade crypto all day long help others figure things out and build the best list platform we can build.
Taking a look today. I have some BTC sitting on Binance I can part with. Do you know if it's available with BNB?
Edit: Nevermnind, I got it with BNB.
Yes, it's available to buy with BNB as well!
If you have something else to trade for it other than BTC I would recommend that.. BTC looks like it's ready to go up again soon, which means you may lose value if it happens just after you bought RDN with it!
Oops, meant BCC. I had some sitting there in case RaiBlocks gets on Binance soon, but I'm not as excited about that as I was last week. RDN just makes sense.
Oh, yes, BCC sure go spend that :)
Disclaimer: I did not invest a huge amount, just play money
Most of my portfolio is play money.
Actually alts are makign me more money everyday. Since CBOE launched bitcoin is acting the way CBOE wants it to. Watch it come to 16k slowly at january 8th and then 18 in march. To be honest alts increase much faster than btc. BTC will not give you the returns you want anymore. Alts is where its at next year. Neo, OMG, EOS, just few of my top choices. I think eos goest o 50 minimum. OMG is 100+ coin, it will be like litecoin is to bitcoin. Neo I think goes to 300-500 minimum next year. However I will likely pick up some raiden tokens. I think this hits 10 bucks in a few months.
This is an awesome discovery for me, this will allow for Ethereum network to scale for mass adoption and make transactions for every time of purchasing.
Definitely this will allow for Ethereum to become much faster and much more useful in a lot of specific use-cases!
But how can it help out NEO? πππ
J/K
It can't!
but that's why I am waiting for Trinity... which is the same thing as Raiden except for NEO!
And it has a cooler name too!
I had a little left over BTC on Binance (since most of my trading is done on bittrex) and so I got 3 Raiden. I know you said not to use BTC, but I have to collect them all.
lol, gotta collect 'em all!
I have to say though, the main downside of collecting them all is that you have to pay withdrawal fees for each of them if you want to withdraw to a wallet. If you have only a small amount in each this eats up a significant percentage of the portfolio! This is why I am always looking for ways to trade with lower or no withdrawal fees. I loved Etherdelta for it's ethereum-gas-based model but something shady is going on there now :-/
well since it is only 3 i'm just gonna let them sit on binance for now. I also have 100 IOTA on there now but I can't seem to find a wallet for it. But other than that I have taken everything off binance.
I use the IOTA wallet that's linked on the IOTA reddit on the right side of the screen if you scroll down.
IOTA is free to withdraw as far as I know (so is NEO, GAS and maybe a handful of others)
The IOTA wallet is cumbersome to use though. It is very important that you only use each receive address only once.
So each transaction of IOTA you receive in your private wallet, you need to create a new receive address for. Never re-use the same address. It's not secure a second time.
ah, thanks!
click here! , TeamMorocco! .
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sound very interesting thanks for the info
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