September 22nd, 2017
In my humble opinion...
You'll always meet resistance in the face of true innovation.
— Forbes (@Forbes) September 21, 2017
Coin of the Day
Making lending accessible in South East Asia
(CRYPTO: HERO) Did you know that around 3/4 of South East Asians don't have a bank account? That means no credit score, relying on loan sharks and pawnshops, and insane interest rates. In comes Hero: a decentralized lending platform that uses an algorithm to create a credit score for unbanked people. By linking their social media accounts and online payment accounts to the Hero service, the algorithm predicts their ability to make regular payments and their overall financial capabilities. Over time, users can build up their reliability score for the ability to take out larger loans.
For those who don't want to be at the mercy of unethical lenders or be in debt for the rest of their lives, Hero allows people to be independent of banks or other forms of corrupt lending.
Jamie Dimon was totally called out for "market manipulation" after his remarks last week. Good riddance.
Yesterday afternoon, the Swedish Financial Supervisory Authority reported JP Morgan's CEO Jamie Dimon for market manipulation; a welcome and exciting prospect for all those impacted by last week's incredible dip heavily influenced by Dimon's remarks. After calling bitcoin a "fraud", Dimon's company swiftly bought up cryptocurrency at the bottom of the dip - an incredibly sketchy move on JPM's part. A spokesperson for the bank claimed that they were "not JPMorgan orders," only "clients purchasing third-party products directly." Hm. convenient.
If you didn't see, there's lots of proof they were the largest buyers in Europe last week. The consequence for Dimon's remarks? Well, market manipulation is punishable by up to two years in prison - but we doubt there will be harsh repercussions, if any.
Should we trust what Charlie Lee, the creator of Litecoin, is tweeting?
Charlie Lee is definitely a crypto influencer. His twitter profile boats over 140,000 followers, and it's completely justified; in an industry that is completely speculative, active traders have to take advantage of every news outlet. Social media has proven to be both beneficial and devastating for the crypto market. So what happns when these influencers are dealing with uncertain events that they may have inside information about? Lee famously claimed last week that Litecoin miners were being executed in China, and has been the go-to guy for all things crypto in Asia as of late. Last night, Lee contradicted the now-deleted tweet with this one:
1/ I have a trusted source that says that there's no truth to China banning mining or network.
FYI, I haven't made any trades on this info.
— Charlie Lee (@SatoshiLite) September 22, 2017
Did you know someone had to invent ICOs? This is the guy who did it, and what he's investing in right now.
Is regulation really the answer to stabilizing crypto? Probably not, but mainstream news continues to push it.
Coin to Watch
If you've looked at the markets in the past few days, you've probably noticed there's a lot of uncertainty with China and Dimon's remarks...yeah, yikes. There's a lot of red. On the plus side, DASH (DASH) has had a relatively strong performance, and is actually only down around 3% - one of the best performers as of right now.
Transaction time is everything...
— kamid_0x (@kambizdjafari) September 18, 2017