October 31st, 2017
Happy 9th Birthday, Bitcoin!
In my humble opinion...
It's like gold, only infinitely better.
Bitcoin is decentralized gold rush! 🤑🤑🤑 pic.twitter.com/1bFacmc708
— Donald McIntyre (@TokenHash) October 29, 2017
Coin of the Day
The 1st Blockchain
notary in the world.
Silent Notary is a group that claims to be the first company in the world to offer notary services on the blockchain. They're issuing a system tokens (SNTR), which can be used in a transaction to notarize data such as chat records in messaging apps, emails, phone calls, video calls, and even videos recorded by your vehicle blackbox. With the high level of technology available to everyone today, digital evidence can easily be altered with software like Photoshop to present false accounts. Silent Notary “converts an event into legally significant evidence,” with little doubt of legitimacy. The service it offers will change the legal industry as consumers can now provide indisputable evidence on their own.
People haven't given up on the massive Chinese crypto market. But brace yourself for a landscape that looks a little different. And more, uh, communistic.
It's no secret that China, in relation to their population, government, and approach to digital currency, has a big role in crypto. Before the Communist Party of China banned ICOs and all crypto exchanges, the massive country hosted over half of all digital currency transactions, a void which Japan eagerly picked up and has been running with very successfully. The Chinese government later released a statement explaining that their very own "trusted" state-backed Blockchain lab was opening, bringing up the very realistic possibility of a government-supported cryptocurrency and exchange.
Today is the last day that Huobi's Chinese branch runs in China. The massive exchange released a statement saying that they reimagined themselves as a news and research outlet, and online talk of a collaboration between Huobi-Pro and OKEx (two popular non-Chinese companies) has dramatically increased after cryptically releasing this tweet.
— OKEx (@OKEx_) October 29, 2017
Some banks aren't granting accounts to Blockchain startups, while Australian officials say crypto can't be regulated.
The Australian central bank announced that cryptocurrencies don't pose "pressing regulatory issues", and due to the international and decentralized nature of digital currencies, regulation will be ineffective. They're probably right. Due to the inherently borderless nature of crypto, heavy regulation would likely scare users from engaging in trading on exchanges based in countries that limit the control of each user.
Blockchain startups have been having issues recently receiving basic banking services both in the UK and Singapore. This is despite the former's government stressing how important financial technology is for aiding economic development (if we remember correctly, there were talks of the UK Home Office creating a crime-fighting cryptocurrency).
Meanwhile in the US, Congress proposed a bill that would essentially include crypto under the umbrella of civil forfeiture. As one Reddit user put it: "I can put a bitcoin on a paper wallet or memorize seed words in my brain that represent a whole wallet and cross borders physically or virtually, then later reproducing the wallet at will. This law would attempt to prohibit me from exercising my memory to access my resources across borders, a ridiculous approach to finance. Finance is of course cross-border and private." This initiative seems counter intuitive, and opens up a whole other can of worms regarding digital currency. Yikes.
The ultimate adrenaline rush: you can now place online sports bets using over 60 different cryptocurrencies.
Coinbase added one million users in the past month, and now has a total of 39 million wallets. That's a lot of Ethereum.
Apparently adding the word "Blockchain" to your company name increases its valuation. A lot.
Companies like IBM and Microsoft are making it easier for companies to get into blockchain and crypto.
Coin to Watch
Bancor (BNT) has been pretty solid for a little over a month now. As you may or may not know, Bancor was the largest ICO ever at its debut ($150 million). They're running the company like a "real business", so their long-term payoff will take more time than most people in crypto are used to (AKA, longer than one week).
— Dennis [NO2X] (@Xentagz) October 30, 2017