November 28th, 2017
In my humble opinion...
fiat's starting to not look appealing anymore.
The thing that makes me happiest about bitcoin price going up is that people are realizing fiat money is so flawed.
— Manuel Aráoz (@maraoz) November 28, 2017
Coin of the Day Collaborative and efficient fundraising
(CRYPTO: FUND) Fundcru has a mission - “to create a blockchain-powered ecosystem where fundraisers, businesses, and supporters can collaborate for mutual benefits and economic value.” To achieve its purpose, they will create a fundraising platform which will bring fundraisers, merchants, and supporters together to make economic transactions. On Fundcru’s platform, everyone can become a fundraiser by creating a campaign on the Fundcru website. Merchants too can apply to join Fundcru online, sell their products, and may or may not choose to recommend specific campaigns to its customers. Lastly, supporters can purchase goods from a registered merchant and select the campaign that will benefit from their purchase, or make a donation to a campaign directly.
Bitcoin hit $10,000 this morning. This is great (don't get us wrong) but the correction may be pretty intense, so hodl on tight.
Break out the bubbly – Bitcoin hit $10,000 on South Korean exchanges Bithumb, Coinone, and Korbit yesterday evening, and on other international exchanges later this morning. This is huge, but keep in mind, we have quite the way to go. Crypto news outlets spread the good news with titles such as, "As Price Eyes $10,000, Bitcoin Faces 'Mainstream' Moment" and "Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption,". Yet, we're not sold on the mainstream adoption quite yet. Not because we don't think it will happen, but because we understand that there is still a lot of education to impart on the general public and a generational fear of digital assets that we must outgrow first.
A very popular New York Times article was passed around yesterday that spoke about Bitcoin's rise to the $10k mark. And we have some thoughts. And a lot of criticisms, mainly that the author made a huge mistake: they generalized. From their comparison of Bitcoin to gold and stocks (for the last time, crypto is way more than that) to the author's complete omission of what the blockchain actually is...we're annoyed. But we also understand that this is what the general public perceives as "Bitcoin".
Oh, and as for Bitcoin's upcoming volatility due to an inevitable correction in the market (what goes up, must go slightly down), don't panic. And be patient. The dip could come after Bitcoin surpasses $10,000 or even $15,000. Another theory according to one of our sources is that the dip may arrive toward the end of 2017 or early 2018 in anticipation of a sell off due to people having to liquidate assets for tax season. Not very sexy, but possible.
Mike Novogratz is back at it again, claiming Bitcoin will hit $40,000 by the end of 2018. Could that be a bit ambitious? (Not as much as you think.)
Don't get us wrong – we would love nothing more than a $40,000 Bitcoin. But it's hard not to roll your eyes when crypto's already had such a stellar performance this past fall. Crypto-lover and billionaire Mike Novogratz explained that, "There's a big wave of money coming, not just here but all around the world," and we'd have to agree. The disruption extends to traditional bankers, who have had their feathers ruffled but are keeping it under wraps, naturally. This news probably isn't helping, either: there are now more accounts on Coinbase than Charles Schwab. This doesn't include the assets the mega bank has, but it's a telling stat regarding financial movements and social trends.
Max Keiser, host of Russia Today's Keiser Report, has an even more extreme prediction: $100,000. Keiser's well known for his optimistic predictions (which are of course very popular in the crypto community), and even went so far as to say that crypto could become, “something of a financial black hole” in which all cash invested in stocks could shift to digital assets. Where's the ceiling for Bitcoin, if there is one at all?
Be the 'crypto-guy' at your office: here's a good roundup of international crypto regulations, so you can defend mainstream adoption. Take that, Jeff from sales.
Pay attention, U.S. citizens. The Senate is looking into criminalizing crypto users.
What will crypto-mania look like? Look out for Japan and South Korea – their crypto scene is going to explode in the coming months.
Coin to Watch
Monero (XMR) has had a relatively spectacular performance, though recently has been overlooked by Bitcoin's immense growth in the past two weeks. Keep an eye out.