September 21st, 2017
In my humble opinion...
I don't know, big banks say only drug dealers use it (and they're always right, right?!)
China banning bitcoin. Venezuelans surviving off of illegal mining.Time to take bitcoin seriously as censorship resistant $, not cheap pmnts
— Ragnar [No2x] ⚑ (@Ragnarly) September 20, 2017
Coin of the Day
Make money...from the sun?
Solar Bankers wants you to earn your well-deserved money...from the sun? The company is teaming up with Shell Pay to create the self-proclaimed "first decentralized electricity network based on solar energy and blockchain", that has produced a more efficient solar panel using high-tech nano-structed film (if you're into reading about that sort of thing check it out here). One of the main attractions is that Solar Bankers allows you to not only "produce" your own electricity (using the power of the sun, of course) but then sell it to your friends, neighbors, or whomever.
The concept of decentralized power, coming from the most decentralized source in the solar system (the sun), seems to be not only very cost efficient, but could also become an important aspect of community building. Why not save the environment while also making some money?
China's making their own blockchain. We would be more upset if we weren't so unsurprised.
China's becoming more and more predictable. Yesterday, China's Ministry of Industry and Information Technology opened their very own Trusted Blockchain Open Lab - although we're a little suspicious about the "trusted" and "open" aspect of that name. The lab will conduct blockchain research and create a platform to discuss the developing technology. As one of our anonymous experts so clearly stated:
"No one in their right mind would ever use anything built there"
We wouldn't either. This news comes soon after the announcement of the United States' potential sanctions on China, which is dependent on limiting their relationship with North Korea (who has been going a little haywire with the whole nuke-launching thing). Interestingly, a key strategy for putting sanctions on China is to "prevent [them] from accessing the U.S. and international dollar system...this would only create an enormous incentive for the Chinese to move away from the dollar into other currencies". We wonder if cryptocurrencies make the list - we bet it does.
TechCrunch Disrupt 2017 is officially over, and there was some controversy over the buzzword of the moment: "blockchain tech".
Ethereum's founder, Vitalik Buterin, made the bold statement that Etherereum and cryptocurrency will match Visa in scale in only two years. This relies heavily on crypto's ability to process transactions at a faster pace than they're currently at; it's not a matter of if rather than when. Even the cofounder of Y Combinator, Sam Altman, is interested in blockchain...but not ICOs. In fact, he went as far as saying that ICOs are "bordering on scams" but "the blockcahin is more important than not". Seems as if Altman is more interested in throwing money at a bunch of different projects and seeing what sticks. I mean, they have the capital. Why not?
Check out Buterin explaining the foundation of Ethereum, smart contracts, in the fast and easy way. Kudos to him for his exceptional fashion choice. (Video starts at 6:29.)
Who is "Bitcoin Jesus", and why does he think bitcoin will split (again) in November?
Have an hour to kill? We highly recommend you watch TechCrunch's "Trust Disrupted" YouTube series. It puts faces behind the big names of crypto.
Coin to Watch
Metal (MTL) is one of the few coins up right now, and for good reason. The company stands for the tokenization of business (both big and small) and is developing a platform to help trade them. Pretty cool right?
My reaction when a government says they will ban bitcoin... pic.twitter.com/Gv5b7BHuhq
— Dank Meme Spec Ops (@AnalyzerX7) September 20, 2017