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Week 6 Recap

It's been a fairly tame week. In my last update I predicted that the Chinese ban on bitcoin exchanges could expose some dirty laundry, namely that those exchanges aren't able to pay back all of their clients funds. That hasn't happened (yet); nor have we seen any executives from these exchanges fleeing the country (rumors state they were told to stay put). I certainly hope that these exchanges are solvent and can pay back all funds; however it doesn't bode well when a regulator bans executives from leaving the country.

In other news, an ETF company in Canada has filed a preliminary prospectus with regulators to launch a Bitocin ETF on the TSX. The company (Evolve Funds) has at least some experience in this space, but given that the Winklevoss brothers Bitcoin ETF was rejected by the SEC in the US, I have my doubts that they will succeed. Evolve Funds already has two other funds that are a bit odd: a Cyber Security ETF that invests in companies involved in the Cyber Security industry and a Diversity ETF that invests in companies who have shown strong commitment to gender diversity. Europe already has a handful of Bitcoin ETF's already up and running, so perhaps Canadian regulators will let this one through.

Week 6 Results

This week's winner by a clear margin was AEON with a gain of +3.45 USD (46.11%) and the biggest loser was Edgeless (EDG) with a loss of -5.19 USD (-34.45%). I've noticed a trend over the last few weeks...it seems that the winner of the previous week is almost always the loser the next week. This behavior reinforces my concern around pump and dump activity, but may just be a result of the massive swings in hype in this space.

I've included a month in review bit after the regular graphs as well this week. Details below:

week6_summary

week6_positions

week6_usd

week6_usd_percent

week6_btc

week6_balance

week6_multiline

Since it's been about a month since I began this experiment, I thought I'd include the diverging stacked bar chart baselined against August 20th, 2017:

week6_usd_from_start

week6_usd_percent-1

Symbol Name Quantity Price September 17th September 24th Week Change
AEON AEON 12.4 0.8828 7.49 10.95 3.45
BCN ByteCoin 8500 0.001213 10.77 10.31 -0.46
BTC Bitcoin 0.00248323 3693.77 9.25 9.17 -0.08
BNT Bancor Network 3.42 2.13 6.70 7.28 0.58
DASH Dash 0.035 333.88 10.75 11.69 0.93
DCT Decent 8.221 0.5012 4.21 4.12 -0.09
DNT District0x Network 47.75 0.03402 2.03 1.62 -0.41
DOGE DogeCoin 6000 0.000885 5.28 5.31 0.03
EDG EDG 11 0.898 15.07 9.88 -5.19
EOS EOS 7.524 0.5516 4.74 4.15 -0.59
ETC Ethereum Classic 0.701 10.53 7.82 7.38 -0.43
ETH Ethereum 0.029 287.16 7.55 8.33 0.78
LSK Lisk 3.31 5.79 19.10 19.16 0.07
LTC LiteCoin 0.2 47.71 10.34 9.54 -0.79
MAID MaidSafeCoin 20 0.4823 10.52 9.65 -0.87
NXT Nxt 94 0.0599 6.62 5.63 -0.99
OAX OpenANX 5.587 0.3819 2.04 2.13 0.10
PLBT Polybius 1.346 4.88 7.75 6.57 -1.18
PPC PeerCoin 5.618 1.2 7.70 6.74 -0.96
QAU Quantum 59.229 0.1849 11.38 10.95 -0.43
SC SiaCoin 1400 0.004802 6.62 6.72 0.10
SNC SunContract 112.863 0.03388 3.76 3.82 0.06
STRAT Stratis 1.844 3.97 8.28 7.32 -0.96
STX Stox 4.167 0.4793 2.77 2.00 -0.77
XDN DigitalNote 3700 0.002073 7.28 7.67 0.39
XEM NEM 38 0.2187 8.02 8.31 0.29
XMR Monero 0.12 90.21 11.41 10.83 -0.58
XRP Ripple 62 0.1767 11.32 10.96 -0.36
ZEC ZCash 0.04 203.91 7.14 8.16 1.01
ZRC ZR Coin 7.808 0.9338 8.12 7.29 -0.83
ZRX 0x Protocol 28.066 0.1723 5.89 4.84 -1.06
Totals: 247.71 238.48 -9.23

Want to follow along?

If you're Canadian and want to try the same thing, I use QuadrigaCX to purchase bitcoin, ethereum, or litecoin to then transfer to an exchange that supports all these alternative currencies. Funding your account is relatively easy as you can use Interac Online to fund your account instantly. I used HitBTC to buy all 31 currencies.

Click here for details about this experiment and what the rules are.

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