October 16th, 2017

In my humble opinion...

The numbers don't lie.

 

Coin of the Day

Let's support inexpensive, accurate and transparent voting systems.

Horizon State has a vision: offer a secure and reliable voting ecosystem using blockchain technology. Some of the problems with current election systems are the uncertainties in the accuracy and fairness of the announced results, and the high costs and logistical challenges of campaigning. Horizon State overcomes these problems with the transparency, security, and lessened cost services of Ethereum's smart contracts. The voting ecosystem will include a reliable news outlet for elections, making it a convenient one-stop place for all things related to an election hosted on its platform. While there are similar companies such as Boulé and FollowmyVote, Horizon State has an edge over its competition due to the progress and development of its platform and established integration within Australia's voting system. Should Horizon State’s blockchain-based voting platform take off, the reduced costs and easy accessibility will greatly benefit parts of the world where there are various obstacles in establishing a fair election.

Bitcoin had a stellar performance this weekend, and reached an all-time high of $5,800. It's nice to keep proving people wrong.

Shout out to the haters! Bitcoin breached the $5,800 mark on Friday, leveling back down to $5,500 by the end of the weekend. Still, it seems that people are feeling pretty good about the surge. The massive spike was probably due to a combination of factors, including but not limited to Coinbase's announcement of instant Bitcoin purchases (as opposed to their previous 3-5 day wait period), talk of Goldman Sachs considering setting up a crypto exchange, and Morgan Stanley's CEO said that Bitcoin was "more than just a fad". It seems that these events were the psychological affirmation people needed to put more money in.

Mainstream media appears to be warming up to the idea that crypto is here to stay...and just in time for Jamie Dimon to run his mouth again after saying he was "done talking about Bitcoin". How long was his crypto abstinence? One day. Solid effort, Jamie. Here's what he had to say about Bitcoin on Saturday:

"If you’re stupid enough to buy it, you’ll pay the price for it one day."

The price you'll pay will probably be a 50,000% return on investment. Thanks for the advice!

Surprise, surprise: Russia's introducing their own digital currency. But they're still not totally supportive of crypto as a whole. 

President Vladimir Putin announced yesterday that Russia would be releasing its own state-backed crytptocurrency, appropriately called the CryptoRuble. It can be exchanged for Russia's official currency, the ruble, and the holder must explain how they obtained their digital currency. If they fail to do so, a 13% tax will be imposed. That's incentive. CryptoRubles cannot be mined, which unofficially implies that mining in Russia will be mostly dead – and government officials were already feeling a bit hesitant about the practice. Why introduce a digital currency that can't be mined? Overall, the project managers have more control over the currency, it performance significantly faster, and is much cheaper to operate.

When asked why they introduced the CryptoRuble now, the Minister of Communications stated simply that if Russia didn't launch their own cryptocurrency, the EurAsEC would beat them to the punch. Late last week, Russia's Minister of Finance was quoted as saying that cryptocurrencies are "a fact of life" and that they should ultimately embraced. We agree. Sounds a little better than China's approach to Bitcoin. Russia's stance on crypto is more conservative, but will likely be exemplary for other communist and asian countries who have been trying to figure out how to regulate and accept crypto, if at all.

 

Don't freak out, but the Ethereum hard fork is happening this morning. Here's what you should know.  

 

It turns out that half a billion people are mining crypto unknowingly. Sorry to break the news, but torrenting and porn are the main offenders. 

 

Fun fact: Tulip Fever never really existed. The downfall of the 17th century tulip market? No one was keeping people accountable for payments.

Stay in the loop

Woo's Law Developed by popular cryptocurrency researcher Willy Woo, he postulates that Bitcoin users double every 12 months. So far, it's held up.

 

Coin to Watch 

Your favorite cryptocurrency that's based on a meme has been going to the moon recently. Check out Dogecoin (DOGE).

Daily LOL

Stop reading mainstream news – they have a bit of an agenda (*cough* banks *cough* government*)