November 3rd, 2017

In my humble opinion...

ding, ding, ding! We have a winner here!

 

Coin of the Day

Trade just like your favorite crypto whale

(CRYPTO: FLLW) Follow Coin Every now and then, we hear stories of how a friend of a friend became a millionaire overnight by trading cryptocurrencies. While it's true that some traders and crypto hedge funds are seeing unprecedented rates of growth, most people are wary of investing in cryptocurrencies for the fear of losing all of their investment. Follow Coin was founded to break down the barriers deterring rookie traders from investing in cryptocurrencies. On the Follow Coin platform, users can view previous trades and scorecards of top traders or “influencers.” Users can then choose to follow the traders and replicate their trades with the click of a button, and payment is made in Follow Coins in proportion to the size of the user's trade. A part of the payment goes to the platform, while the remaining coins go to the influencer if the trade is deemed successful. Download the Follow Coin app on your mobile device and replicate the success of top cryptocurrency traders today.

Deutsche Bank admits that this may be the end of fiat money. Not to be dramatic, but this is a really really big deal.

Deutsche Bank's Global Head of the Fundamental Credit Strategy Group, Jim Reid, published a groundbreaking and brutally honest report on the current state of finance. Some key findings are that we're not only going to see a financial crisis in the next few years (yikes, but predictable), but that central banks, financial institutions, and debt are the ultimate causes for this future crash. Reid writes,

 "If we’re correct, the fiat currency system may be seriously tested over the coming decade and ultimately we may need to find an alternative ... Cryptocurriencies are all the rage at the moment and are as much about blockchain as anything else but there could be an increasing desire for alternative medians of exchange in the years to come if we are correct." 

Reid isn't the only one doubting global economic stability. Apparently, Goldman Sach's clients are "reluctant bulls" due to a number of factors, one being the recent crazy high start-up valuations, in addition to "pre-emptive" rate hikes from the Fed. Meanwhile, Coinbase added 100,000 users in 24 hours between November 1st and 2nd. So, that's pretty freakin' exciting. As the global market cap of crypto nears $200 billion, it's exciting but simultaneously scary to think about mainstream adoption. What will it take for Bitcoin, altcoins, and blockchain to integrate into society?

More good news from Wall Street about crypto! (There's a sentence we thought we'd never say...)

In a surprisingly positive week for crypto –well, Bitcoin's astronomical price increase probably doesn't hurt – Wall Street hasn't been hating on Bitcoin as hard as it normally does. A managing partner at Fundstrat and former strategist at Goldman Sachs said that not only is crypto a "huge revolution in terms of decentralized control," but that Bitcoin is important "for investors to own." It's exciting, except that he mentions cryptocurrency as a security.

As previously discussed in our other newsletters, the US hasn't totally decided how to define crypto. Security, asset class, fundraising tool, piece of mathematics that people don't understand well – we've heard it all. We've attended several tech conferences recently, and there've been endless seminars relating to conducting your own ICO. The first rule about initial coin offerings? Don't pass the Howey Test.

 

Well, Bitcoin Gold added replay protection to their program, but we're unsure as to whether or not that can save this new currency. 

 

Cryptocurrencies are definitely going to be a thing, but this college professor thinks it's the bank-backed ones that will survive. We'll see.

 

The Central Bank of Swaziland has come out as "having [an] optimistic but cautious" approach to digital currency. Let's take that as a win!

 

Coin to Watch 

EOS (EOS) is taking us on a wild ride, and it's up to you if you want to hop on. But we recommend you check out their seven-day chart (it's exciting).

 

Daily LOL

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