September 20th, 2017

In my humble opinion...

I mean, he's not wrong.

 

 

Coin of the Day

Help fund the next blockchain unicorn

(CRYPTO: SCI) We bet you've never heard of Science Blockchain; but you've definitely heard of the companies they've had a hand in starting. They've helped Dollar Shave Club and HelloSociety establish themselves in their respective industries, and are now looking to dive into the cryptocurrency space. Science Blockchain's ICO is funding the Science Blockchain Incubator: a space to develop crypto-centeric business concepts while taking advantage of the services provided by the incubator, such as legal, technical, and operational assistance. Science Blockchain is a welcome guide, seeing as many ICOs have successfully raised hundreds of millions of dollars, but often struggle when actually running their company. In the developing field of tokenization and ICOs, guidance has proven to be a powerful asset.

Notable advisors include Jeremy Gardner, the founder of Aurgur and...Apolo Ohno? Their public sale goes live October 2nd. Check out the basics of the incubator here.

 

Bitcoin execs and miners are potentially in life-threatening danger in China. No, we're not being dramatic.

 

We bet your day is going better than Chinese bitcoin executives. Yesterday, the Chinese government released a statement ordering all executives of bitcoin exchanges to stay in the country and cooperate, according to "informed sources" in the Chinese media. Which, we understand, is a little bit a shaky statement to be supporting. The founder of one of China's biggest exchanges, Huobi, claimed that they were told to "report to the authorities and cooperate with their work at any time". Uh, yikes.

How much danger are these execs in? There was chatter last week about Litecoin miners being executed by the Chinese government. So, potentially a lot. While some people claim that China's crackdown in mining is no big deal, the actual enforcement of these laws could easily become lethal. We all remember that ill-fated Wall Street Journal article that quotes an "anonymous source" (*cough* *fake news* *cough*) saying that China is completely banning cryptocurrencies. How true this is....is debatable. Gossip, at best.

All Chinese exchanges will shut down today (except two). Japan steps in.

It's finally happening. All Chinese crypto exchanges will stop their service because, according to the Chinese central bank, cryptocurrencies are apparently used for "money laundering, drug trafficking, smuggling, and illegal fundraising". Nice! Apparently the government sent a document (leaked on Weibo, see here) to crypto exchange leaders clarifying the timeline for shutting down their respective companies.

As of now, it appears Japan will be picking up most of the slack, since as of Sunday, it held over 50% of the crypto exchange market in the world. The future of bitcoin for China? Our guess is either a state-backed coin or intense regulation of the market. Both of which likely won't go over well with crypto traders...especially considering decentralization and anonymity are both out of line with China's systematic control of the internet, but are foundational building blocks for all thing bitcoin.

Ethereum's co-founder made a big splash at TechCrunch Distrupt 2017 when he said the network will have Visa-scale transaction capacity...in two years.

A personal favorite: hedge fund managers don't know what they're talking about (BTC is a bubble, and gold is money?).

Stay in the loop

hyperbitcoinization (noun)

"The tipping point where people start to convert fiat currency into bitcoin at an alarming rate."People are unsure about what price is the hyperbitcoinization, but there's plenty of speculation.

Coin to Watch

In case you didn't know, Monero (XMR) is probably going to be the coin of choice for Wall Street. It's a little down right now, so you may want to consider its future value while it's still under $100.

Daily LOL

Crypto Fashion Week™ came early this year.