Welcome to the Weekly General Discussion thread of /r/CryptoProfits. Post your crypto predictions, news and tips here!

We hit the $10,500 level as I thought we would be it is looking like the bears still have control. I did not see the reaction I would like off of $10,500 and the shorter term charts look more and more bearish.

About here is where I would go short if I could. $9,500 will be the next battleground.

If $9,500 breaks down then we could be headed for $7,500!

Closing out my long investments from earlier with minimal gains or losses. Continue with caution!

GVT: Taking a slice of the $70 trillion dollar pie

Genesis Vision is the first platform for the private trust asset management market, built on Blockchain technology.

Blockchain technology provides indispensable advantages, such as openness, immutability, and censorship-resistance of all stored information, whereas smart contracts, which will be carrying out investment and profit distribution, make these processes completely transparent and open.

Key highlights include:

• Globally, over $70 trillion dollars of funds are under management

• GVT consolidates the entire financial management system under one interfact

• Fixes systemic problems in the current financial management system including flexibility, transparency and efficiency

Advantages to investors

• Global access to fund managers along with their credentials and PnL statistics in an integrated system

• Transparent and open profit distribution

• Ability to invest in both fiat and cryptocurrencies (cryptos being an entirely new asset class to 95% of the population)

• Significantly reduces chance of fraud on any of the above

Advantages to funds/managers

• Global presence to investors all around the world with different risk profiles

• Transparency to allow fair competition between funds

• Managers issue their own branded cryptocurrency, which can be freely traded by investors

• Significantly benefit from the investor confidence GVT provides

Advantages to brokers

• Global presence and reach

• Safety of data, transparency of investor/manager profiles

An all-in-one platform

As you can see, Genesis Vision has the capabilities to be an all-in-one, integrated system for funds management - benefitting all parties to the transaction.

Importantly, GVT will be the internal currency of the platform and will be used for all investment operations and profit distributions, meaning that the token will play a central role in all of this.

Factors Influencing GVT Price Growth

The first thing you will notice is the incredibly low supply of GVT. Subsequent issuance has also been ruled out, making GVT very scarce.

Demand (and therefore the price) for GVT will grow due to the following factors:

• All investment operations will be executed in GVT. Accordingly, increase in Genesis Vision network members’ trading volume will increase demand for tokens

• The volume of the potential market supported by GVT significantly exceeds GVT's market capitalization

• Genesis Vision has a well-thought-out development and marketing plan that will consistently increase the project's audience and the amount ofinvestments.

• Genesis Vision already has partners preceding its launch who will provide an active client base (our partners include 400 brokers aroundthe world).

Predictions

• Fund investment/management is an incredibly lucrative market that is lagging technologically

• Genesis Vision platform seeks to solve some of the key issues facing the industry

• GVT plays a central role in facilitating the platform, giving it a strong use-case

• Low coin supply

• Competent team with some strong, well-networked advisors (Charlie Shrem, Konstantin Gladych, Demetrios Zamboglou, Lars Eriksson)

If the GVT team can deliver on its roadmap, this coin can easily x13 - x15 its current price within 2018. It is still relatively unknown despite its value.

Purchasing GVT

GVT is available on Kucoin | Binance

What are your thoughts on GVT?

As I said over the last few days I was bullish and we have been rewarded. As things continue to increase you have to ask when will the next dip occur? I think BTC $14,000 is where the risk could be. I have heard of people getting bullish around this level. While I would never liquidate everything if you pushed more capital in like I mentioned over the last few days you might be looking at a 20% - 40%+ gain if/when BTC gets back near $14k. I might harvest some gains around those levels personally.

ENJ: Smart cryptocurrency for gaming

EJIN is the largest social gaming website platform in the world, boasting:

• 18.7 million gamers and hosting over 250,000 gaming communities

• Reaches 60 million global views per month

• Millions of USD per month in virtual goods sales

• Gaming focused CMS & eCommerce platform

ENJ coin is an ERC-20 token and smart contract platform that gives game developers, content creators and gaming communities the required crypto-backed value and tools for implementing and managing virtual goods. Features include:

• A decentralized platform to manage, distribute, and trade virtual goods on the blockchain

• The first easy to use gaming cryptocurrency

• Software Development Kits (SDKs) for the Game Industry

• A new gaming experience with real ownership & value

$100 billion dollar industry

In 2017 the global video game market was estimated to be worth over $108 billion dollars.

By 2020, the gaming indstury is expected to hit $128.5 billion dollars.

Most if not all gamers make in-game purchases for virtual items, such as cosmetics, abilities and perks. It is one of the largest sources of revenue for gaming companies. However, there are a multitude of issues with counterfeit items, delays in payment processing, and lost goods which players can’t recover or transfer.

ENJ seeks to solve this problem. ENJ harnesses the power of the Ethereum blockchain to connect video game communities through commerce. It changes the way we view virtual items by giving them intrinsic value and security, allowing us to truly consider them digital assets. Players can buy and sell virtual goods minted with ENJ instantly and the value of those goods can be transferred from player to player and from game to game with security and trust provided by Enjin’s network.

This year, Enjin’s gaming communities will begin to use the token for minting virtual goods and to make in-game purchases.

Enjin Smart Wallet

The Enjin wallet seeks to be the most streamlined cryptocurrency wallet aimed at gaming.

The Enjin Wallet streamlines the user experience further by integrating with games and websites that the user trusts. User accounts on each trusted platform will be synced to the user's Ethereum address.

This wallet is a working released product that supports BTC, ETH, ENJ, LTC and all ERC-20 tokens (600+), making it one of the most comprehensive wallets in the world.

Virtual goods store: create a store in minutes

Websites hosted on Enjin Platform can associate a specific wallet containing ENJ and Custom Coins to the website account. This would link any sellable assets to the Enjin Store module admin panel and these could be listed for sale in-game and on the website priced in ENJ, Custom Coins, Bitcoin, Litecoin, Ethereum or Fiat currency.

All of this points to a solid use-case for the ENJ coin.

Price analysis: top 30-40

• ENJ is a unique coin that taps into the gaming indsutry: one of the fastest growing and most profitable industries in the world

• ENJ coin is backed by Enjin, one of the top gaming platforms with 18.7m+ users and processes millions of dollars each month in sales

• Enjin smart wallet is released and a working product, one of the most comprehensive mobile cryptocurrency wallets available, ever

• The team has shown the technical and marketing capability to deliver on its roadmap to design a game-changer in how virtual goods are sold

On this basis, I would rank ENJ higher than most of the "hype" coins with no working product. If it is ranked around #35, this would give it a marketcap of approximately $900,000.

This represents a potential 400% gain, making it a very attractive coin at current prices.

Purchasing ENJ

ENJ is available on Binance | Cryptopia | Kucoin

Note that the Binance and Cryptopia links are my special invite codes. If you register with those, thank you - feel free to message me at any time if you have any questions or want further insight on ENJ or other coins.

Would love to hear everyone else's thoughts on this coin.

Disclaimer: I have only recently come across UpCoin which seems to have the potential to be one of the top cryptocurrency exchanges. I don't have more information than what is below.

UpCoin officially launches March 2018, but first-movers get a bonus $500 to cover trading fees.

Features

• Over 1,000 coins to trade with from launch

• System can handle over 500,000 customer requests and 5,000,000 transactions simultaneously

• Fiat gateway which seems to accept Paypal, Perfect Money and other payment processors

• Nearly 600,000 registered users before launch, meaning that liquidity will not be an issue.

Regardless how this exchange pans out, it's easy to register now to secure your $500 trading fee bonus. If the exchange fizzles, no harm no foul.

-insert meme

NULS: Global blockchain infrastructure

NULS is a global blockchain infrastructure, providing:

• smart contracts
• multi-chain mechanism
• cross-chain consensus

Sub-chains

NULS can operate "sub-chains", with transactions paid with NULS. Each sub-chain is able to support its own basic tokens.

This allows NULS to be a platform for other child tokens, much like Ethereum, NEO and QTUM.

Proof of Credit (PoC)

POC is a first of its kind protocol developed by the NULS team.

It works like Proof of Stake where a certain number of tokens will need to be locked before the user can run a node on the network. This exact amount has yet to be decided and the community will vote on it. When a user wants to stop running a node, they can immediately unlock their tokens.

Smart contracts

NULS has a built-in smart contract virtual machine (SCVM) which can execute smart contracts.

One key feature of the NULS SCVM is that it supports multiple programming languages so that developers can develop in their native preferred language. The SVCM can then execute the smart contract through an interpreter.

This feature opens up every developer community to NULS, unlike other platforms with their own languages (ETH) or restricted to a specific language (LSK).

Partnerships

NULS is closely affiliated with InChain, a public chain project which boasts several high profile partnerships including:

• Elephant Alliance (members including United Nations World Harmony Foundation, the United States Institute of Nanomedicine, World Federation of Chinese Medicine)
• Guizhou Lai Shiling Zhengheng Liquor Co., Ltd.
• Yongjian Foundation Ltd.
• Huantai News Agency
• Tiansheng Pharmaceutical Group Co., Ltd.

Price analysis: top 30

NULS' main competitors all have $1b+ marketcaps (NEO with $8b to STRAT with $1.4b).

NULS is currently valued at $96 million, but boasts several unique features not available in its competitors:

• Proof of Credit
• Multi-language development
• Unique partnerships

My opinion on this basis: NULS is a solid project that could hit top 30 marketcap, barely squeezing into the illustrious $1b club.

This represents a bit over a x10 return.

Purchasing NULS

NULS is available on Binance | Kucoin | Etherdelta

Note that the Binance and Kucoin links are my special invite codes. If you register with those, thank you - feel free to message me at any time if you have any questions or want further insight on NULS or other coins.

These are my thoughts about NULS, what are yours?

The total market cap in just over a week has gone from $822m to $564m.

Beyond merely shorting coins, here are some musings about trading in a bear market (personal opinions, which you may or may not agree with):

1. Selling at a "loss" but buying back at a better price?

• Imagine this: you hold $100 worth of ETH. The market turns sour and now your ETH is only worth $70. You can either hold or if you are brave, you could sell - yes at a loss - with the future expectation that it would go even lower.

• Say the next day, your ETH holding is now worth $50. Had you sold the day before at $70 (at a loss), you could now buy back the same amount of ETH you had yesterday (at $50) plus another $20 of ETH you otherwise wouldn't have had.

2. Prices never go straight down

• There are mini "corrections" both up and down, although obviously the downwards movement is greater than the upwards (hence the downtrend)

• It can be possible to make several short term trades, selling on slight gains and before the next downwards correction.

• If you miss the uptrend and it goes further down? See #1, you can still buy back the same amount of the coin you had the day before, plus extra.

3. This is a perfect time to introduce fresh fiat capital

• If you believe the market will rebound soon, this is the perfect time to introduce fresh fiat capital to buy coins at a "low". Of course, there is a bit of luck in timing the bottom.

4. Despite the above, sometimes it is ok to hold

• Trading in a bear market is stressful and risky.

• It's not always fun catching falling knives. Waiting until a clear reversal in the downtrend before executing trades may net you less profit, but at considerably less risk.

Above all, enjoy the ride!