Posted on August 31, 2020
by Adam Justice
Every month Thunderbolt Host CEO Adam Justice will pick a Cryptocurrency investment that he believes has potential to generate big returns. Each pick will be unique and will not necessarily be an investment that he plans on jumping in and out of in 1 month. This is not financial advice, legal advice or advice of any kind. Cryptocurrency trading is a high risk venture that you enter in to at your own peril. This article represents the author’s personal uneducated opinions and nothing more.
This month, September 2020 I am using my profit from my August hot pick to invest on a promising ICO, the BiDao chain coin (BID).
Right now BiDao (BID) is available for $0.01 per token. It can be staked for 30% interest during the ICO as they build up the funds and stability needed to go onto an exchange.
The biggest winners in Crypto are the ones that get in early. This is a chance to get in on an ICO that is very promising.
BiDao is a very interesting project. It’s described as “a trustless stable coin based on Binance chain”. It’s similar to other projects like MakrDAO in the fact that it promotes a stable coin, but different in the fact that MakrDAO is completely dependent on the Ethereum block chain and is not easily integrated with other platforms.
A stable coin is a coin that doesn’t fluctuate wildly like Bitcoin. Most are indexed to the U.S. Dollar and stay within .3% of that value because they are collateral backed. The coin’s stability is also manipulated by raising and increasing the available supply.
They do not go up in value either though, but you can often get better interest rates on them than fiat currency. BiDao will have a pair of coins – the BAI stable coin, and the governance and staking coin the BID. This is similar to MakrDAO’s MAKR coin for governance and Dai as a stable coin.
BiDao promises to integrate with BTC, ETH, Tezos, and EOS in the future to become a one stop shop as a stable coin that can be used seamlessly across settlement platforms.
The use cases and potential for the MakrDAO ecosystem is very promising. It can be used for leveraged trading, collateralizing loans, and offers an attractive stability for users that want to use DAI coin for everyday transactions without worrying about the market collapsing while they are holding assets.
BiDao has already cemented some impressive arrangements with other Defi entities. BiDao has integrated Chainlink (our August Hot Pick) price reference contracts to increase the number of assets that can be used as collateral in the ecosystem. They’ve also made agreements with several other coins directly.
BiDao Chain is even more promising because in addition to putting out a paired governance and stable coin they are building the ecosystem to be interoperable between different blockchains from the ground up.
The landscape suggests that more and more companies will develop their own blockchain as opposed to ETH or Bitcoin pushing out all the competition so this is a very attractive feature.
You can check out the BiDao Chain whitepaper for yourself
Since BiDao is currently in the ICO stage the price is fixed and there is not an ability to send coin from the wallet that is integrated into the website. You do however get 30% powerstaking interest as an early investor so the more money you invest, the more BID you’ll have once it hits exchanges.
Since BID is essentially an improved MAKR coin I have used insight gained from studying and comparing the two to generate likely outcomes and a best case scenario for the BID coin.
There are only 1 million MAKR coins in circulation, but there are 1.95 billion BID coins being offered during the ICO. According to the whitepaper this will be roughly 75% of all the tokens. You can count 2.4375 billion tokens just by what is shown in the whitepaper, so I am the total number is 2.5 billion, the rest are probably reserved for staking rewards.
At the current time MAKR’s market cap is $640,998,822.
If BiDao coin matches MAKR’s market cap it will be worth approximately 25 cents. MAKR has been trading for 2 years and 8 months.
Some other projects that I liked when they were freshly announced were Elrond, Zilliqa and Swipe. They’re all still gaining ground, but they’ve all made it to the $200-$250 million mark in market cap. As long as BiDao makes it to the top 50 in market cap it will be worth 10 cents and you will have more than 10x your investment.
Elrond and Swipe have both been live for a little over a year now.
So for a long term outlook I see BID getting to $0.10 in 1 year and $0.25 in 3 years barring a catastrophic collapse of the Crypto market.
Here is the wildcard – MAKR jumped to an all time high of $1,600 with a market cap of nearly $1 billion shortly after it began trading because it coincided with Bitcoin’s all time high.
Many people believe that we are in the beginning stages of a crypto bull market that will surpass BTC’s previous record. If that were to happen with BiDao the coin price would be around $0.40 per coin, meaning a $1,000 investment would become $40,000.
I’m funding this play strictly with Crypto profits from the previous 3 months of trading. I have 1 more play that will run out before the ICO ends on November 30.
I plan on splitting my play into 2 parts – a 10 cent sale and a 20 cent sale. I will also hold a certain percentage as a long term investment.
This play is allocated for 3 years. If the timeframe elapses and I am not able to execute my plan I will re evaluate my position at that time.
As always, plans are subject to change but it’s really important to make a plan and stick to it when investing. Plan for contingencies and resist the urge to jump before the plane is over your target.
Set up an account on Coinbase using this link. Go ahead and deposit at minimum $170 in USD. You could also buy USDC, a stable coin based on the US dollar. It takes 6 days before you can send funds deposited in your account, so do this as soon as possible. Set up an account on the Bidao Chain website as well. After your funds are released on Coinbase
Now you’re invested and will begin earning a 30% staking interest until the ICO ends, which is scheduled for November 30.
This is not financial advice, legal advice or advice of any kind. Cryptocurrency trading is a high risk venture that you enter in to at your own peril. This article represents the author’s personal uneducated opinions and nothing more. The author has placed referral links in this piece for Coinbase and also holds BID coins.
This article was written on 8/25 and scheduled for 8/31