South Korea's exchanges are about to get crazy. 🙊
In my humble opinion...
it seems impossible until it happens.
Those that can't fathom a world where the current fiat system collapses against bitcoin must not know the history of currency.
Go ask someone old enough what a Deutsche Mark was. Did you know the internet is older than the euro? Currency comes and goes, sound money lasts.
— Jack Mallers (@JackMallers) December 17, 2017
Coin of the Day
International internet access, without a data plan
(CRYPTO: STY) We all know the feeling: you're traveling through a new part of the world, only to realize that you've run out of that precious internet data. Styras will fix this inconvenient and potentially life-threatening problem. The project is the first decentralized mobile app (Styras APP) that lets you connect to the internet anywhere in the world with a nearby hotspot. In the Styras ecosystem, there's also a 3G router (Styras Router) that allows you to securely connect up to 10 devices with their encryption technology. You can buy Styras internet packages with Ethereum, Bitcoin, or Styras tokens. There are no shady phone plans or obnoxious contracts, and while 100% of the world can't be internet-friendly, you can feel confident that with Styras, you can be connected to most of the developed world, at any time.
CME futures and a $20,000 Bitcoin. Last year, you wouldn't have seen this coming.
— Bloomberg (@business) December 18, 2017
Similar to the Cboe Bitcoin futures, the CME will allow you to cash in your Bitcoin futures for USD but draws their BTC price from the CME Bitcoin Reference rate, which is an index compiling prices from GDAX, itBit, Kraken, and Bitstamp. The CME also put their respective price limits into play, which freezes trading if the price trades too high or too low in reference to the previous day's performance. These 'stops' reduce volatility...some say that could be good, or dangerous. Other crypto traders argue that a critical turning point will be when Bitcoin futures are actually settled in Bitcoins. We're hoping that day comes soon.
Check out this guide to Bitcoin futures, so you can sound informed around the office.
South Korea will set an example of how to responsibly regulate crypto while still keeping the power with the exchanges. Watch and learn.
It turns out that South Korea will not be banning crypto in any capacity, after all. In an exciting move, it was announced yesterday that over 40 companies and 14 crypto exchanges would be self-regulating to "protect investors' assets and make the listing process of new cryptocurrency products more transparent." They'll now be required to follow several rules outlined by the government, including limiting each trader to using only one cryptocurrency exchange and having to conform to Korea's Anti-Money Laundering (AML) regulations. The response to this announcement was relatively positive, with Bithumb, South Korea's largest exchange saying that these laws will, in fact, boost the market and help with a more stable, long-term growth.
Check out "the nutty math" that shows how impressive Bitcoin's growth is. Hint: at this growth rate, BTC's value will surpass the value of the stocks on the London Stock Exchange...in June 2018.
So, Bitcoin in Africa is currently trading at a 40% premium (over $30k per BTC). Yikes. The cause? Mining is super inefficient there (trust us), and crypto is extremely illiquid.
Tether (USDT), the altcoin tied to the USD, is running into some serious backlash after 300 million USDT were made in the past week. Questionable.
You can tell there's an influx of crypto newbies when sub-$1 coins are having a better-than-normal week. Welcome to the club, everyone.
Coin to Watch
— Crypto Babel (@CryptoBabel) December 17, 2017