We woke up to a $13k Bitcoin as Wall Street jumps in. 😨

In my humble opinion...

make sure you check in with the real world occasionally.

 

Coin of the Day

ICOs and token sales, without the insane risk.

(CRYPTO: ATRIX) Initial Coin Offerings (ICOs) have revolutionized the way businesses raise money. Anyone can participate in them, and they've been extremely attractive investments. On the flip side, they're also high risk, and this aspect usually prevents people from participating in token sales and ICOs. Atrix's solution is to encourage participation in ICOs with its new initial contribution rules, which includes increased project transparency and buyback guarantees for contributors if they're unsatisfied with the performance of their funded projects. Contributors can expect a minimum of 80% buyback guarantees for 5 years, and they can also choose to convert their contributions into loans or priority passes for new projects on the Atrix system. For people who are more tentative investors, this is a real game changer.

Where are you, Jamie Dimon? Your company said Bitcoin is the new gold. Thoughts? Oh, and Bitcoin futures are coming to over 7 million people in December.

JPMorgan is going back on its word. Analysts at the bank recently released a statement saying that Bitcoin is now starting to represent a more, "traditional asset class," (we don't know how we feel about this classification) and has the opportunity to store wealth in a long-term way – like gold. Jamie Dimon's previous comments that Bitcoin is a "fraud" still ring in our ears, but JPMorgan's trading revenue for the better part of a year has been pretty abysmal; so we understand the bank's desire to expand to new arenas. Even if it's hypocritical. The good old Bitcoin vs. gold debate has been going on since Bitcoin's inception, with the principal argument being that gold is, in reality, a (sneaky) inflationary asset and also doesn't have the thousands of use cases blockchain offers. We're team Bitcoin - duh.

Get excited: the push for Bitcoin futures has arrived, and everyone's trying to get in on the action. Two more companies, TD Ameritrade and Ally Invest are planning to provide Bitcoin futures to their clients. This service will give a collective seven million customers access to Bitcoin futures – talk about going mainstream. The best part? TDA and AI said that the decision to offer BTC futures was driven by client demand...pretty significant. The Tokyo Exchange also announced yesterday that they would provide its very own Bitcoin derivative futures, which is slightly less shocking because Japan already considers Bitcoin a legal currency. The exchange released a statement, which explained that they, "will launch this working group to study various aspects, including...what form it will take root in Japan’s society." It looks like they're taking this to a socio-cultural perspective, which we're loving.

Bitcoin's new high of $13,000 may draw in regulation, but only out of fear that crypto is becoming too successful (yes, we know how that sounds).

Mike Novogratz, Bitcoin's favorite mainstream spokesperson, was interviewed yesterday about government regulation; an aspect of the industry that will heavily impact American crypto trade in the near future. For now, American regulation is up in the air, except Novogratz is worried that the rapidly rising price will rope in the government, even though crypto is "hard to shut down" and he "doesn't think that's a probability". Yes, Mike, it's pretty darn hard to "shut down" cryptocurrency (FYI, it's extremely challenging from a technological standpoint according to US federal prosecutor Kathryn Haun). Novogratz has recently been making the rounds on finance talk shows and has acted as an important figurehead preaching about the transition from traditional finance to crypto.

Bitcoin's market cap is now at $200 billion and poses a clear and legitimate threat to most traditional financial institutions. Recently, central banks and governments have been freaked out by the meteoric price rise. This Zero Hedge article breaks down governments' responses to Bitcoin's price increases, with countries like Turkey, South Korea, Holland, and France all either warning their citizens to sell or beware of crypto; some of the reasons are not particularly valid, such as South Korea's warning that Bitcoin is a "gateway to illegal activities". But even China's remarks –  that shutting down crypto exchanges in their mainland was a good decision – couldn't shake the markets as of this morning. Sorry, Xi Jiping. The article ends with a particularly solid point, reminding readers that crypto must provide some kind of real value. If these "establishmentarian status-quo-defenders" are worried, we're doing something right.

 

UBS is getting in on the action and filed for a blockchain-like platform patent for its users. Remember: JPMorgan's "Bitcoin-alternative" patent file was rejected 175 times.

Are your parents technologically incompetent, but want to get in on 'the Bitcoin'? Here are three easy steps for getting crypto onto your parent's phones.

Fret not: Vitalik may not care about your lost Ethereum, but the Parity Wallet founders sure do. They're hoping to return the lost ETH in the next 4-6 months.

Coin to Watch

IOTA (MIOTA) makes our list again – we bet you wish you checked it out when it was 200% lower...three days ago (don't worry, you're not alone).

Daily LOL

Zero chill.