October 27th, 2017

In my humble opinion...

all you have to do is follow the money.

 

Coin of the Day

More than independent contractors. Watch out Uber.

Following Uber’s success, a number of competitors have entered the ridesharing industry with criticisms against Uber drivers’ welfare and low profit margin. Though high competition in a market can drive down prices, the marginal cost is a limit to how much firms can lower their prices. Cryder is the world’s first decentralized ride sharing platform where drivers get to keep all of their revenue. This presents a platform where there are potentially more drivers (due to higher payoff – 100% revenue) and shorter waiting time. There are some obviously hurdles that the project has to overcome; regulatory issues are bound to be a potential problem. Because the platform is decentralized, users will not have to worry about their data being collected and analyzed.

Wrapping up: CoinAgenda Day 3. "If you do an ICO, you're going to suffer some form of psychological trauma."

These were the comedic yet brutally honest words of Augur and BlockchainEdu co-founder Jeremy Gardner, who had some strong suggestions about the grueling but rewarding process that is an Initial Coin Offering. Day three of CoinAgenda saw lots of spotlight presentations, as well as a panel of seasoned crypto and tech veterans including Gardner, Chris Kitze of FLASH, and Brad Mills.

  • Google wasn't getting a lot of love at the conference, and for good reason. A lot of crypto enthusiasts don't believe in the traditional data mining/advertising model anymore.
  • If you're considering doing your own ICO, figure out if your token will be a security token or a utility token; it can make or break your project and potentially draw the SEC to your project for scrutiny. Not great.
  • Eduction is the name of the game. Right now, many projects and crypto industry leaders are desperately trying to communicate to the masses what Bitcoin and blockchain really are, and that they're not so scary after all.
  • To continue Gardner's animated quote: "If you do an ICO, you're going to suffer some form of psychological trauma...people are going to nag you in person and through social media...it's a side of ICOs that people are not recognizing....I can tell you, you're going through a grueling psychological exercise". Be ready!

Bitcoin is once again compared to a good ol' American asset: gold. Peter Thiel thinks crypto's a better buy, while Warren Buffet needs a software update.

Peter Thiel, co-founder of tech giant PayPal, took part in an interview on Fox, saying that, "if Bitcoin ends up being the cyber equivalent of gold it has a great potential left...in a sense [Bitcoin] is more constrained". This comes a day after Apple co-founder and mathematician Steve Wozniak once again came out in rallying support for Bitcoin, declaring that the token is not only superior to gold, but also when compared to the dollar. Thiel's philosophy background may be an indicator that crypto isn't just for STEM nerds; it's something that can be understood by anyone who uses fiat currency today.

If you want real entertainment, read the comments on this article about Warren Buffet's opinion of Bitcoin. We've said it before, and we'll say it again: he's showing his age, not his wisdom. Buffet has been pretty staunchly opposed to crypto, and has been previously quoted as saying it's a "mirage". Some of the precious (and valid) comments are:

"The real bubble is the U.S. stock market. No one seems to be paying attention to that. On top of the fact that the U.S. dollar is fundamentally worthless from a technical standpoint."

"Keep it up Warren, I need another dip to buy some more."

"OF COURSE the dinosaurs invested in the old system are trashing the new one coming in. expect it. it means the new system is threatening them."

As you can see, the hodlers are quite unfazed (but still, er, passionate).

No, Amazon is not accepting Bitcoin...yet. Their stock spiked yesterday, most likely from their earnings report. Patience!

Bitcoin Gold (BTG) is now trading on several exchanges. We'll have more info about how people are trading and recovering their BTG later.

How many times have you heard "blockchain not Bitcoin"? It's an easy out. Read why it may in fact be the opposite.

Fight fight fight...did Coin Telegraph incorrectly report that the SEC is bearing down on Tezos directly? Some think so.

 

Coin to Watch 

Yes, NEM (XEM) is on a steady decline. But remember the golden rule: buy the dip.

 

Daily LOL

Satoshi is rolling over in his... well..whereever he is, he's probably not happy.