October 10th, 2017
In my humble opinion...
Cut off your loose ends.
— INVESTA (@invest4al) October 9, 2017
Coin of the Day
Use your genes for good, not evil.
Zenome is a decentralized blockchain-driven database that allows users to securely upload their genetic information, and "take control of it" through selling access, receiving workout or dietary recommendations, and undergo other kinds of genetic testing. Several services such as Genos, 23andMe, and AncestryDNA have become wildly popular, but are probably selling your private medical information. Yeah, pretty creepy. All data transactions on the Zenome platform are governed by smart-contracts, which allow all information to be secure. We recommend reading their whitepaper as opposed to watching their informational video, which is kind of like a loud MTV music video on psychedelic drugs (A+ for effort and graphic effects). If you're worried about your data being used for advertising purposes online, you should be more aware of how your medical info is being bought, sold, and utilized.
Let's get this out of the way - the market is not going to hell, it's just in anticipation of the fork. Bitcoin is looking great at $4,800.
Let's all take a moment to admire that number: $4,800. At the time of writing this, bitcoin's price is juuuuust shy of that beautiful $5,000. This is most likely due to expected fork that will most likely take place around October 25th (even though previous reports said November). The strange mutant child of this fork will be bitcoin gold (BTG); a coin that will rival bitcoin cash in controversy.
News of the fork broke yesterday, causing most traders to dump their altcoins in favor of the original. After all, if this fork goes through, you may end up with double the number of bitcoins in your wallet - equal parts in bitcoin (BTC) and bitcoin gold (BTG). So, let's all take a deep breath, and get excited for what could be better entertainment than reality television: real people getting upset about their digital money. *It's important to note that like bitcoin cash, not all exchanges will pass on the matching coins to their users that hold bitcoin. Please be sure to check with the exchange you are currently using to see what their policy is.
Overstock's crypto exchange is ready to rumble - but it has some worried about the future legalities of BTC in the U.S.
A few weeks ago, Medici Ventures' capital markets division announced they were launching an alternative trading system (ATS) that will provide a platform for ICOs categorized as securities in the U.S.. Medici is the capital markets division of Overstock.com; a company whose CEO has been very vocal about his support for bitcoin and the blockchain revolution. The exchange is SEC compliant - which is good news for some, while it may feel like the beginning of the end for many. Don't panic; every other country in the world has been treating ICOs differently, so just hang tight as the finance giants regain their footing.
While it's clearly a step in the right direction, it may give some people the wrong idea. ICOs can be treated as securities, but they're much more than just a cryptocurrency version of a stock (check out exactly why, here). Recently, the U.S.'s Security and Exchange Commission has been going after cryptocurrencies that act like securities - proving that ICOs held in the United States should avoid passing the Howey Test. In the mean time, American law students are having a ball figuring out what the heck is going to happen with this industry. At least someone's having fun.
The competition for crypto startups is stiff, but it'll be worth the wait.
The crypto world is about to get a little more user-friendly, thanks to rapidly improving user interfaces and companies dedicated solely to making ICOs and crypto startups more transparent. Now, you can finally show your friends that ICOs are not a scam, and Jamie Dimon doesn't really know what he's talking about. The competition for blockchain-based apps is also ramping up, proving that the $77 billion market is going to induce some insane competition - with some pretty impressive results.
If the crypto market goes down, it's likely that micro-chip companies would crash too. Talk about performance incentive.
Mastercard's CEO had some strong wordsabout crypto, (we believe the exact phrase was "junk") but he's all for gov't-backed digital currencies. So close, Banga.
Some universities are starting to accept bitcoin for tuition payments. Smartypants.
Coin to Watch
Get on our level, bro.
— cryptojesus (@ItsCryptoJesus) October 9, 2017