ARK: A New Cryptocurrency With a Mission


In a crowded field of altcoins and ICOs coming up every other day, ARK aims to stand out from the rest through its technology and vision. Yes, it is also going to go through an ICO, but it isn’t one of those copy-paste coins (and if it were, we likely wouldn’t be covering it on our blog anyway). As usual, if you decide to invest in any ICO, do your due diligence and remember not to invest your rent money into any. Also, if you’re interested, here’s the link to its Bitcointalk announcement thread.


So let’s tackle the technology piece first. ARK is built on the backs of Lisk (and Crypti) and Bitshares. As you might have guessed, it borrows its consensus algorithm from Bitshares, via the delegated proof of stake (DPoS) system.

More interestingly, ARK is building a ‘smartbridge’ technology. It is a custom piece of information embedded in transactions that allow it to transact in a different blockchain. This way, ARK can easily adjust whichever way the wind flows, and borrow from the more successful blockchains even as it grows and expands its services and technology.

The ARK technology gives it a lot of technical flexibility to steer its direction in the future. As the space is really emerging at the moment with no clear winners or a clear sense of which way the ship will turn, ARK provides a framework to capture the best of the cryptocurrency space.

In addition to just cryptocurrency/blockchain technologies, the team has plans to work on implementing smart cards that can allow users to spend their money. We’ll cover more details in the Vision section below.


In addition to its technology and technological vision, ARK is really positioning itself as a crypto for the long-term. It is trying to build an entire ecosystem that isn’t just geared to do the fancy-word-of-the-day type uses, but plain old cryptocurrency. The currency aspect of cryptocurrency really.

It is also working on technologies for smart cards using NFC that will make it easier to spend ARK at in-person venues and not just online. This should give ARK a good boost in terms of adoption if it is able to convince enough merchants to accept payments and enough users to pay using ARK.

The bridged blockchain technology via smartbridge will also allow the ARK team the flexibility to expand its vision for its customers in the future.

If you believe in its vision and see some utility for it down the road, you can invest in its ICO. Do your research and due diligence as always.

The Value Proposition of ICONOMI


Note: ICONOMI ICO is ongoing

ICONOMI is generating a lot of buzz, but sometimes the true value proposition gets hidden under all the spam that you see on Twitter and Bitcointalk (to their credit, the ICONOMI team is really serious about not rewarding spam, and I commend them for that). So here’s the value proposition of ICONOMI for investors. Please remember that any ICO investment is risky, and you absolutely should not invest more than you can afford to lose.

Real Business Proposition

ICONOMI isn’t yet another altcoin. It has a real business behind it. Real businesses make profits, have earnings and revenues. Altcoins don’t. Therefore ICONOMI, even though it is a token on a blockchain, is much more than just an altcoin.

Therefore, investing in ICONOMI is very different from investing in all these other ICOs that are going on. You will own a piece of a business that generates profits.

Investor Dividends

There are no cryptocurrencies today that give regular dividends to holders. The first time this was really put forward was with Augur. However, Augur isn’t launched yet. ICONOMI is doing the same with its token – giving monthly dividends to investors. This can be quite variable I know but it is a pretty good value proposition.

If you make a stock market analogy, you get both dividends and capital appreciation (increase in share price). Over the long-term, dividends can be a very important component of returns. In fact, for stocks, they have been the dominant source of returns over >50 year holding period.

Disrupting a Stodgy, Old Industry

ICONOMI is in the fund management business. That’s a multi-trillion dollar industry right there. It is also old and stodgy and hasn’t seen innovation in decades. It is ripe for disruption by a startup. The existing players sit on a gold-mine, and investors are forced to use the existing systems because there is no competition.

ICONOMI has come out of the blue, and is sure to kick the incumbents into action. However, it will likely be too late for them by the time they realize its potential. Fund management is huge. Even if ICONOMI is able to obtain a very small piece of this pie, like 0.01%, it will end up being very large, in the order of billions of dollars. That’s a huge opportunity right there.

Platform Economy

This is a less-often discussed aspect of ICONOMI, but is a powerful tailwind going forward. In addition to the 2 funds – INDEX and PERFORMANCE, ICONOMI will also launch a fund management platform. This will allow other crypto investors and traders to offer their own funds to their clients. It is like a platform that allows anyone, even with $0 in their bank account, to start a hedge fund. Let that sink in for a moment.

We have seen how tech companies that build platform economies can be massively successful. Uber is a $60 billion company. Airbnb is a $25 billion company. Even if ICONOMI becomes a $1 billion company, it will be a huge part of the crypto ecosystem.

So there you have it. These are some of the value propositions for ICONOMI. What other killer features did I miss? Let me know in the comments.

Check out the ICO here

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Photo Credit: Chicago Man

ICONOMI ICO Continues to Impress: 15 More Days to go


ICONOMI continues to perform an impressive job at its ICO. Check the latest ICO stats here. At the time of this writing, over $4.5 million was raised by ICONOMI. That’s an impressive number, even in today’s environment when there are so many ICOs that are competing for investor attention and dollars. If you want to be a part of this ICO, you have just about 2 weeks left now until the ICO finishes.

Changes to total Bitcoin raised in ICO

Originally, ICONOMI started with just a floor on the ICO of 2000 BTC. To be sure, that is also a fairly significant number, since very few ICOs will be able to raise 2000 BTC  (about $1.2 million). However, ICONOMI ICO blew past that number very easily in just a couple of days of the ICO being open. There was no cap on the ICO initially, which meant as the number of investment dollars (or Bitcoin) increased, each person’s share kept decreasing.

Listening to community concerns around this, the ICONOMI team decided to put a cap on the money raised in the ICO. This was a smart move, as they show they are willing to learn and change direction for the betterment of their project, aka they listen to the community that is heavily invested in this project.

So the new limits are as follows: 21,000 BTC hard cap on the ICO. Any amount raised over 10,000 BTC will be invested in the ICONOMI.PERFORMANCE fund.


Right now, the ICO stands around 7600 BTC.

This is a very smart move (although in my opinion, it should be a small percentage even if less than 10,000 BTC is raised) because it gets the flagship fund, ICONOMI.PERFORMANCE off the ground with ready investors – investors that have already shown a willingness to trust the team. This is like a prop-trading account – essentially, a hedge fund investing its own money in one of its funds. That’s exactly what is needed.

So with this one change to the ICO, the ICONOMI project has gotten far more interesting than it was at the beginning. It is not too late for you to invest – here’s the link.

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Introducing ReturnBit: Proof of Work with ICO

ReturnbitThere are lots of new ICOs at the moment. This usually happens after a few really successful ICOs and then everyone wants to jump on-board (Lisk and Waves in this case). ReturnBit is a bit different from all other ICOs at the moment, firstly by using proof of work (scrypt algorithm, same as Litecoin). Not many new ICOs are using proof of work, instead opting for proof of stake. Also, the number of coins at ReturnBit will inflate, as opposed to many of the other ICO coins that have a fixed supply (mostly because they don’t need to pay block rewards for proof of work).

Secondly, the coin is creating an “rTrust” which will receive 50 coins per block. This is an opportunistic fund that will selectively return these ReturnBits to holders, but does it differently than proof of stake systems. This way, the money is returned to all holders indirectly (as opposed to direct rewards with proof of stake, which many forego because their coins are sitting on an exchange). So you just send some money to the “rTrust”, wait for about a day, and you get more ReturnBit out of this.

The problem with proof of stake’s ‘dividend’ is not so much that the rich get richer, but that many people hold their coins in an exchange and not in their own wallet, thus becoming ineligible for these ‘dividends’.

It is an interesting experiment. We’ll see how the investor returns now and in the future will be for the investors. Should be an interesting experiment to run though. Quite different from the many other ICOs that are ongoing at the moment.

Here are some details for investors:

Bitcointalk forum thread:

ICO Website:


ICONOMI: How ICOs Should be Done


Hear it here first forks: For the second half of 2016, here’s how ICOs are done: Model ICONOMI. Let’s introduce ICONOMI here first, and hopefully, the first of many more to come.

Firstly, there is no dearth of ICOs at the moment. This seems like the hottest time of the year, right after the big ICOs of Lisk and Waves, each valued at over $15 million at the moment. The historic pattern is when there is  wave of successful ICOs, there are many that want to raise money while the market is hot. We are in exactly that phase right now.

But ICONOMI is different. Firstly, there is a legitimate idea, which seems like a rarity today in the turbulent crypto seas, ahoy! The project is aimed fair and square at investors. Whatever product or service helps you make more money is something to keep an eye out on. Those are big winners in the economy. ICONOMI definitely checks off that box. Basically, the idea is to bring financial services and products on to the blockchain. It is built on Ethereum.

So there’s the idea (yes, it is built on Ethereum which isn’t as hot as it was earlier. Thanks Stephen Tual and the DAO team) that is interesting not just as a stand-alone but as a way to make/earn money. The next step is, who cares? Well, if you run a great ICO campaign, you already have your earliest adopters. That’s a smart move that lots of ICO teams get wrong. If you are good with rewards and running good campaigns, you can generate a ton of more value than just the coins that you give out as bounties. So ICONOMI checks that box off very well too – great bounty programs, and good social campaigns like Twitter and Bitcointalk signatures.

And the market is reacting appropriately. Even though there are like a dozen ICOs ongoing at the moment, investors are taking note. There are the three-day stats: over $300,000 raised in just 3 days. And the ICO is ongoing for another month. Good luck to the team and the investors. Exciting project to check out for sure.

ICONOMI 3 day stats

Here’s the ICO website.

And here’s the ANN thread in Bitcointalk.

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Decentralized Exchange with Tokenized Fiat and Great Scalability = HEAT

Heat Crypto

What does it take for a cryptocurrency to get noticed in 2016? There have been thousands of cryptocurrencies since Bitcoin, so what can you bring new to the table? Well, how about some good ‘ol fashioned tokenized fiat, mixed with a decentralized exchange on the blockchain, garnished with a scalability solution that will allow significant scalability. Well, that’s HEAT in a nutshell.

The ICO is currently ongoing. You can buy some HEAT tokens here before launch. I cannot comment on how successful the project will be, but the Finnish project looks quite promising, and definitely seems to have a better thought-out product than most of the pumps-and-dumps infecting this space.

Oh, and did I mention the 32 page whitepaper is also out (surprisingly, they released the whitepaper while the ICO was ongoing instead of before. That may have made some people gloss over this one). You can read it here.

The Bitcointalk thread is not too exciting in terms of numbers. Much less discussion than Lisk and Waves, but the discussion quality is much higher. No whiny “when is the price going to rise? this is a scam” type of post from ignorant newbies. They didn’t do a signature spamming campaign, which gets an A+ from this Crypto Captain for not spamming Bitcointalk.

All in all, promising ICO for sure. Raised a fair amount of money, but nowhere close to Waves for example. It remains to be seen how successful this will be in the marketplace.

MorCoin Launches as Pure PoS with Interesting Distribution Model


MorCoin just launched today as a pure proof of stake coin (PoS) – see the official MorCoin ANN thread. The distribution model is interesting – everyone can get a free share, but people can purchase additional shares of 5, 15 or 40, by sending Bitcoin to the dev team, which will then use the money to further improve the coin. It’s an interesting distribution model, being a hybrid of free giveaways and IPO type of distribution to raise funds for future development. Since there are always free stakes available, if you don’t want to take your chances, you can just apply for one of these, and no harm done.

On the technical side, MorCoin has a total cap of just 5 million total, which should give each unit of MorCoin a high value. The PoS interest is 15% annual and stakes mature after a coin-age of 4 hours. The number of coins is interesting, as MorCoin is bucking away from the trend of having billions of coins, and instead focusing on the value of each coin by liming the numbers. This might prove to be a good move, since many coins that trade in the range of single-digit Satoshi usually end up dying.

The launch is on June 29, 2014. The IPO closes on June 28, 2014, so if you want to buy your stakes through the IPO as opposed to free distribution (to get more MorCoin), do it now.

With the coin launches cooling off in June compared to May, there aren’t that many new ideas around, and launches try to differentiate themselves from the crowd through other methods such as strong dev team, community, merchant acceptance, etc. MorCoin is one of the few coin launches this month, and it would be interesting to follow its progress.

CreateCoin Just Launched Today

A new coin, called CreateCoin just launched (see CreateCoin ANN thread) today on June 14th 2014, with no pre-mine and a pre-announcement a couple of days ago to keep the launch fair. However, there’s a 30% dev reward for blocks 1-500 and 2% on regular blocks. This is how bounties, etc. are going to be paid by the dev.

On the technical side, CreateCoin uses the currently popular hybrid model of X13/PoS. On the PoW side of things, there will be a maximum of 15,896,875 coins (43200 blocks) that will be mined. Blocks time is 60 seconds.

On the PoS side of things, there’s an annual interest of 8% which isn’t much (remember a coin like HoboNickel is going very strong with controlled inflation even with a 100% PoS interest) but is better than some coins which are in the range of 1%-2%. Higher PoS interest gives people a reason to hold on to the coin rather than dumping on the exchanges.

There are several pools already for those who are looking to mine this coin. Mind you, this just released, so it might be easy to mine some coins now as not many know about it right now.

Magicoin Brings Back Old-School Cryptocurrency Charm


There’s a new cryptocurrency in town, and this time, it’s MAGIC! Unlike the current flavor of the month in terms of PoW/PoS and instamining, etc. , MAGI/MAGIC follows in the footsteps of Litecoin, including its mining algorithm. Magicoin uses Scrypt instead of the other proof of work schemes like X11 which are getting more attention in the last month or so than simple Scrypt. In fact, Magicoin is quite similar to Litecoin, even in terms of the block target of 2.5 minutes and a total coin count of 84 million. This will probably make Magicoin easy to keep track of in the future, as its value can easily be compared to Litecoin.

The distribution of Magicoin however is different. There is a 0.95% premine which will be used to develop the coin and the infrastructure around it through bounties. I know pre-mine isn’t the most popular option out there in the community but if the funds are wisely used, the coin can quickly gain popularity and easily reach the crypto-masses.

Also, even though the coin is very new, Magicoin is already listed on SwissCex, one of the better exchanges out there and one that I have used quite a bit in the past for altcoin trading. Even though the volumes aren’t that great, the site and trading experience is excellent at this site.

There are many giveaways and bounties, to help spread the Magic of Magicoin all over, and to help as many people get their hands on some Magic as they possibly can. In fact, there is already a faucet that you can use to get some free Magicoin, to get started with this new crypto. If you want to mine some Magicoin, check out the MagiCoin Mining Calculator.

All in all, MagiCoin seems like an interesting new cryptocurrency that promises to be fun and inclusive. There is already a proposal for a MagiCoin online store. This might mean it could be a coin like NobleCoin which is gaining steady acceptance in the community and has an excellent online store to buy anything at a discount, like Amazon Gift Cards at 15% discounts.

There is lots of interesting information on the main ANN thread for Magicoin, so do be sure to check it out and follow it for regular updates.

Bitcoin in the Beltway: Another Bitcoin Conference

Gear up for another Bitcoin conference. Bitcoin in the Beltway is a weirdly named Bitcoin conference (yes, it is still weirdly named even if it is happening in DC) that is going to take place in Washington DC from June 20th to June 22nd. The list of speakers is surprisingly good – from Jeff Garzik to Brock Pierce. However, like the conference in Atlanta last year, the one called Crypto Currency Conference (CCC), this one has a fair share of promising libertarian speakers (and hopefully audiences too) – like Angela Keaton of Jason King is another ‘celebrity’ figure on the list of speakers.

Bitcoin conferences are usually a weird mix of people who are ‘in’ – a perfect showcase of everything that Satoshi conceived shouldn’t be in the world. They are usually very hierarchical and speakers are carefully chosen to be the ‘biggest names’ as opposed to people who might actually matter or people with good ideas.

We at Crypto Sailor are immune to this, though. If there are good ideas floating around, we’d like to know, no matter where they are coming from. Conferences can also be a good way to meet the people behind the scenes. This conference, especially, has an impressive list of speakers, to be honest.

We’re still thinking on whether to attend or not. The conference has been kept surprisingly quiet though, unlike the Inside Bitcoin conference which proved to be the randomest event earlier this year due to the list of speakers. Yes, there was actually a whole panel discussion for one full hour and not a single person on the entire panel had ever used a Bitcoin to purchase anything, ever! Told you – conferences can get weird like that. But this one sounds better though, with a healthy dose of libertarian speakers thrown in (no Jeffrey Tucker, but Cathy Reisenwitz is invited. I might have to swallow my words later, we’ll see).

Are you attending this conference? If so, let us know! We might just end up sailing there as well!