September 11th, 2017
In my humble opinion...
Fiorini comes out in support of crypto.
Coin of the Day
High-risk investing for smale-scale investors
(CRYPTO: SWM) Swarm is a blockchain based cooperative ownership platformfor "real" assets; essentially, it provides people the opportunity to put small amounts of their money into high-risk investments they would normally not have access to. Their two-tiered token model, which consists of one coin providing access to their network and the other acting as a security, is a great example of how most crypto currencies actually work: as a currency and security. A big pro? Swarm does all of the legal work to "tokenize" each of the assets. Forbes even wrote an article about it. Check out their "lightpaper".
As of this morning, all Chinese crypto exchanges are still down. It's probably temporary. It's definitely stupid (and for show).
We're currently watching the meltdown of China's banking system, and crypto is being caught in the upheaval. Chinese exchanges have recently been receiving mixed signals, as OKCoin released a statement saying that they haven't been asked to close, while most exchanges haven't heard anything at all. Cryptocurrencies such as Bitcoin and Ethereum are still considered legal in China, while ICOs are not. The hysteria surrounding China's digital currency problem will be short lived - especially since it's doubtful the government would eliminate something that is proving to be incredibly profitable for them.
While most coins based outside of China will most likely be not tremendously impacted, one would assume that Ethereum will most likely have a short-term dip due to the fact that its main use is to help ICOs get started. Yet, the Ethereum network set a new throughput record yesterday at over half a million transactions in a 24 hour period. It seems that everything is still chugging along just fine.
A government-sponsored researcher says that China's ICO ban is actually just "a pause"...uh, ok?
A researcher at China's Institute of Finance and Banking (state sponsored, of course) claimed that the block on ICOs will be relinquished as soon as the government finds appropriate regulations and policies. Sounds like China is a little freaked out about the insane amount of money they've lost on not being involved crypto thus far. To be fair, the potential licensing program China would introduce is similar to the U.S.'s BitLicense program - although many startups left New York state for this exact reason.
Blockchain CEOs are supposedly fed up with China after the ICO ban, most likely resulting in a massive migration to other more crypto-friendly asian countries (we're looking at you, Japan). Confusion worsened when a Chinese "Blockchain e-wallet" appeared on the app store this morning. Is this the work of the CBoC? Just make up your mind, China.
People barely noticed the integration of SegWit, but Bitcoin Cash lovers hit a bit of a roadblock.
What's worse? The future stock market or Bitcoin bubble? (send this to your anit-crypto coworker).
Russia is looking to legalize Bitcoin. Take notes.
Coin to buy:
Now is a great time to Buy Bitcoin (BTC) as it's currently hovering around $4,200, and expected to go up past $5,000 some time next week. An oldie but a goodie!