Best Cryptocurrency for 2017 – Five Crypto-Coins to Consider Buying this Summer

In this post, we will discuss three cryptocurrencies (also called alt-coins), that you might want to take a close look at and include in your basket.

1. SteemIt

Steemit is the coin behind, a community that earns these coins by generating web content (articles, replies, pictures, and videos). It’s still in Beta, so the user interface isn’t really all that spectacular. The content is actually stored on the blockchain, is based on Graphene, created by Dan Larimer (of BitShares and EOS fame). In the last year, the price has risen from as low as $0.13 to as high as $2.30, and is currently around $1.87.

See chart:

2. Augur

Augur is one of the more promising decntralized applications (dApps) being developed today. It is coined as a “prediction market” but basically, this means gambling. And gambling is big big business. Throw in the fact that the supply is limited at 11 million tokens and you can see the scarcity may motivate a higher price.

Augur might be compared with its director competitor Gnosis, but Auguar seems to be further down the path. Their github repository of its source code also seems to be far more active with the amount of code being written and committed. The Augur beta app still isn’t that impressive. That said, considering they are planning a launch in late summer 2017 there is time for them to apply the final touches. This system will handle smart contracts as well, and that’s perhaps more important than the user interface. The marketcap of Augur has been going up, which is what brought it to my attention. Perhaps they could do a better job of marketing and social media to beef up public awareness.

3. Stratis

Stratis is essentially similar to Etherum, i.e. executing smart contracts. The primary difference is that Stratis will use C# and .net platform integration to create and exeute the smart contracts. Later, they will also support java and javascript API. Stratis is also PoS and segwit ready. I’m enthusiastic about this platform becaus eof the huge base of C# and Java programmers in the world.

4. LiteCoin

I like Litecoin because …
I see it could actually go up in value if the Bitcoin hard fork coming August 1 (2017) goes badly. Litecoin and Bbitcoin development has always been a parent-child sort of relationship. Segwit activation on Litecoin was a landmark and many feel it prompted the upcoming Segwit implementation which could result in the hard fork. There is also a very strong chance of the lightning network being tested on Litecoin first

The community is solid, the exchange presence is huge – including direct fiat to litecoin options. Litecoin was just added to Coinbase in the last few months, making it more easily available and visible to hundreds of thousands of new buyers. It is a great ecosystem, my only criticism is that the marketing is very quiet about it.

5. NEM

NEM is another sleeping giant that is fortunate to have some really cool and unique tech. Specifically, it supports multisignature contracts, built in namespace support, messaging support. Yes, you can actually attach a message to your blockchain transactions. It also is very scalable and has a limited supply. This is always something an investor should look for.

On the negatives, there is some confusion in their naming (XEM/NEM … ) The community is pretty neutral as well and there does not appear to be much excitement related to their technology. Marketing seems to be really quiet as a mouse! I’ve rarely seen anything in advertising, videos, or social media from NEM. Although NEM will be showing at some upcoming blockchain conferences there is no single big event to look forward to this year.

Summarized from @deanoza on

EOS (ERC-20) Coin Token Launch – How To Participate

EOS has been defined as:

“a consensus blockchain operating system that provides databases, account permissions, scheduling, authentication, and internet-application communication to massively improve the efficiency of smart business development that uses parallelization to make possible blockchain scalability to millions of users and millions of transactions per second.”

The ICO for ESO began this week, Monday June 26, 2017. An Initial Coin Offering, or ICO, is an unregulated (as far as I know) method to raise funds for a new cryptocurrency venture.

The ICO for ESO is structured differently from most other initial coin offerings. There is an initial 5-day sale, then every 23 hours (for 350 times) there is another sale. I think the 23 hours is a clever way to be fair to people living around the world, and not tying the 24-hour day to any one time zone. Based on how much Ethereum you “contribute”, you will get a proportionate share of ERC-20 tokens.

By creating the ERC-20 token on the Ethereum blockchain, every token issued on the Ethereum network can be considered a “sub-currency” of the Ethereum network. This means it can be readily traded on the existing exchanges. Ethereum is the best blockchain currently available to execute “smart-contracts” and thus is being used to handle the distribution. Some people are already claiming that EOS may be the Ethereum “killer”.  See also  (SteemIt seems to be the source of Dan Larimer fans and cryptogeeks who will be the first to buy this distribution.  So look there for the best information on the technicalities of how to buy.

There is some trust required in the EOS launch, as a person must buy ERC-20 tokens on the Ethereum change.

They EOS instructions have “scary language” like this:

EOS TOKENS MAY HAVE NO VALUE. 7.9. EOS Tokens Will Become Non-Transferable. Buyer acknowledges and understands that EOS Tokens will become non-transferrable within forty-eight (48) hours after the end of the EOS Distribution Period.

In English, what this means is: They won’t be transferring the tokens from the Ethereum blockchain to EOS blockchain, if that is even possible. Instead, new tokens will be created on the new EOS blockchain when it is available, and will built to match the ownership already established of the ERC-20 tokens on the Ethereum blockchain.

The website was originally blocking people in the United States.  Now instead of block them, they just have to click a few buttons and swear they are not US Citizens; then apparently they are allowed to continue.  This is probably to avoid breaking any US laws.

According to COB on SteemIt, this same technique has been used by the Dan Larimer family of blockchains and cryptocurrencies, such as Muse and BitShares.  Cob also emphasizes that it’s critical for any blockchain to have a widely distributed ownership stake.

Sandwich on Steemit, gives a guide to buying your ERC-20 tokens with MyEtherWallet (MEW), along with guidelines and protections, but instead, he recommends using the official EOS launch/distribution page with MetaMask integration. MetaMask is accomplished with a free plugin to the Chrome browser.

All in all, the whole thing is a little scary, and there are lot of steps involved. I think this means that mostly techies and high end investors with techie staffs will be the first to invest. However, this maybe one of those opportunities of a lifetime, to get in on the world’s future “operating system on a blockchain”, which stands to revolutionize the world.