October 3rd, 2017

In my humble opinion...

The happiest currency in all the land.

Coin of the Day

Manage your risk exposure in crypto.

Hedge Project is a platform that supports their main product, Crypto Traded Indices (CTIs) that helps crypto investors to manage their risk exposure in the digital currency market. Most people becoming introduced to bitcoin and blockchain are often incredibly wary of the volatility and high risk that comes with putting your money into digital currency. The platform boasts price indexes, methodology rulebooks, index instruments, and will all be supported on one easy-to-access platform. The project is based in Switzerland - one of the most crypto-friendly countries in the world right now. The service explains that you can "buy (or short) the market with a single click", although we wouldn't suggest shorting anything any time soon. Check out their whitepaper here.

 

Crypto is forcing Wall Street to choose a side; and both forces aren't going down without a fight.

The big news of the day yesterday was that Goldman Sachs is considering the option of allowing its traders to exchange in bitcoin directly. This is apparently due to "client interest", and probably the dismal revenue Goldman had last year, even in a bullish market (-21% in its fixed income revenue division...that's gotta hurt). As we all know (or should now, at least), GS is one of the few pro-bitcoin banks in the U.S.. JP Morgan is famously very anti-crypto (but not anti-blockchain), and their CEO is pretty judgmental about the enthusiastic cryptomania currently taking the globe by storm.

Oh, and this comes in light of news that the U.S. Government's Department of Treasury intends to start integrating the crypto industry into centralized banking...but through regulation. This is not gonna go well. After all, one of the key aspects of crypto is deregulation.

The kids are alright: Russian and American kids understand crypto better than most adults.

Russia's finance ministry has recently proposed an initiative that would increase financial literacy, with a major motivating factor being cryptocurrecy. The minister of Finance reportedly said that it's "necessary to include the topic of cryptocurrency". Currently, around 28% of Russians have heard of bitcoin, but it seems as if their early adopters may be mostly...kids? The Russian bank Tinkoff is extremely close to releasing their own currency. As a member of the Russian FinTech Association, we're excited to see how this development influences other banking/tech giants in Russia.

America's demographic is a little different; bitcoin is apparently a hit in middle America, even though some American economists say cryptocurrency is "highly unsuitable for mom and pop investors". An poll run last week in the United States found that a little under 40% of 18-24 year olds plan on investing in bitcoin. Only 10% of those polled between 45 and 54 are interested in putting their money into crypto (which makes sense, considering older demographics usually stick with a conservative investment plan).

Fun side note: are you considering buying some fine art as an investment? According the Knight Frank's Luxury Investment Index, it's actually a better investment to put your money into bitcoin.

The U.S. gov't finally collected the profits from the 144,336 "illegal" bitcoins seized in 2013. Too bad they didn't wait a few years.

New perspective: Apparently the ~mystery~ around bitcoin is what makes it appealing. This Forbes article ignores all the real reasons why crypto works.

Africa's first crypto exchange was launched yesterday, which is a must needed change.

Coin to Watch

Ripple's (XRP) going straight to the moon right now, especially with all of the good news that's been surrounding the currency.

Daily LOL

It's time to leave the nest.