October 19th, 2017
In my humble opinion...
It's exciting – there're still places to move up.
Bitcoin: 3 transactions per second. Visa: 1667 transactions per second. See the room for growth?
— Jeffrey (@DaytradeJeffrey) October 18, 2017
Coin of the Day
1World wants to make
your content better for you.
(CRYPTO: 1WO) 1World Interactive Platform is a decentralized ecosystem for online engagement services that provides analytics, monetization tools, and varies plug-ins. 1World argues that content publishers should know about their customer to provide better content and promotion. This helps companies to interact with consumers in a more efficient and effective way through polls, quizzes, debates, trivia, and more. They also deal in commercial data collection, data exchange, and traffic generation. The blockchain comes in handy for user authentication, smart contracts, miners, and more. While this may seem a bit overwhelming, it's important to know that most, if not all, websites are already doing this (especially e-commerce). Why not have blockchain to back it up?
The Bitcoin fork is approaching, and the market is reflecting the animosity and tension most people feel.
Crypto's price has been a little all over the place the past 24 hours, but overall dropping around 6-7% per token (although Bitcoin managed to keep it's head above the water with a low of $5,100). Bitcoin's controversial hard fork is scheduled to take place in a mere six days, which is making people uneasy. The definitive guidelines and structure of the project are still up in the air, and people are slowly losing faith in the ability of the project to perform in the long term.
The Merkle recently published an article that was supposed to help answer some questions thanks to the Bitcoin Gold team. Unfortunately, they're almost as lost as we are. BTG just starting to confirm their implementation of replay protection (a rule that ensures transactions are only valid on a singular blockchain after a fork). Despite their original plans, no ICO is scheduled as of this moment (despite their original intention) and their website provides the bare minimum with regard to information. Our anonymous sources also have mixed feelings about it, and are definitely not as confident as Roger Ver appears to be.
Good news! Ethereum is in a great position, so don't be discouraged by the black hole created by Bitcoin Gold.
A few days ago, Ethereum's network processed over half a million transactionsdue to increased demand. The network now boasts transaction times of only around 15 seconds; a far cry from Bitcoin's several minute to several hour transaction time. Perhaps Bitcoin is not going to be the go-to coin for small transactions, leaving room for smaller coins that are more efficient, such as FLASHcoin, for quick B2B and C2B turnaround time.
As we have suggested in the past, crypto is probably going to play a role in financial institutions, such as banks and the government. The US, which has been notoriously stingy about crypto as a currency and/or security, has begun to quietly pass laws that favor crypto and blockchain usage. Nevada, Texas, and New Hampshire have all passed laws that favor crypto heavily.
A Russian official just compared Bitcoin to casinos, which, uh, isn't exactly right. Looks like they're trying to take out competition for the CryptoRuble.
China's Red Wednesday was held yesterday, and President Xi did touch on "disruptive technologies." So, we'll have to wait and see how China approaches their crypto problem.
Coin to Watch
Unsurprisingly, Ethereum (ETH) is our coin to watch today. We're liking the way things are looking right now.
— Brian Kelly (@BKBrianKelly) October 18, 2017