We're getting Bitcoin futures even sooner than we thought.

In my humble opinion...

Silicon Valley represents the tech community as a whole (so watch out).

 

Coin of the Day

Watch out gift cards, you're about to be replaced

(CRYPTO: GAT) GAT Coin is a digital wallet where you can store and manage all your reward points in the form of merchant coins, which are created by the merchants themselves. Upon creating their tokens, merchants can use the A-Drop functionality to send tokens directly to customers’ wallets based on factors such as location, geography and spending habits. Besides being a highly precise marketing tool for the merchants, consumers can also benefit from receiving tokens from more relevant merchants. In the case that a user gets tokens from a store they don't visit often, the user can trade those tokens for discounts at other retailers on the GAT Exchange. GAT Coin is about to make online rewards systems easier and more enjoyable to use.

 

Sh*t's getting real with Venezuela, while American fiat exchanges are racing to be the first to offer Bitcoin futures.

Venezuela's had a rough year. Politically, they've been in nothing short of turmoil, and their financial situation isn't much better (see: hyperinflation). Venezuelan citizens have been rapidly mining Ethereum and Bitcoin so that they can buy necessities with the cryptocurrency, such as water, diapers, and medicine. Crypto is quite literally saving people's lives. Well, it appears that the government took notice at how quickly it caught on. President Maduro announced yesterday the government intends to launch an oil-backed cryptocurrency called the 'Petro.' Some supporters of the currency say that it will help to fight corruption and boost the economy, while others view the token as a possible method of money laundering and a method to increase the government's involvement with shady businesses. Of course, this depends on if the bill to introduce Petros is even passed (stay tuned).

As for Bitcoin futures, people are still lukewarm - some say that it could be the best thing to happen to the industry, while others think that it could be crypto's downfall by increasing volatility and speculation (not to be dramatic). We all know that the CME is planning to launch Bitcoin futures on December 18th, but in a surprising turn of events, it appears that they're going to lose the race to launch futures first. The Chicago Board Options Exchange (CBOE) announced yesterday that they, in fact, will be releasing their own Bitcoin futures on December 10th – about a week before CME planned their own launch. Each exchange is planning on creating their own guidelines regarding trading limits (ex: the CME will not allow BTC prices to move +/- 20% from the previous day's closing price), so we're excited to see how traditional finance handles the insane volatility and unique nature of crypto. Some experts say that it's a  bullish position long term, but short term it's more of a gamble, as there could be massive shorting.

 

We're starting to see some crypto projects become front-runners with mainstream adoption. But it's still just a little too early to tell if it'll last.

It's no surprise that Coinbase has become so popular – for the growing population of new crypto users, the industry is terrifying, and the exchange offers a less overwhelming method of getting acquainted with the industry. Right now, they offer better user interface and a transfer of fiat to BTC in only a few days. They also have a customer support team that's rapidly growing. Yes, they've hit a few roadblocks along the way – they recently had a glitch that aggressively overpriced BTC on their mobile wallet – but there's a reason they've become the most popular crypto exchange in the US.

Meanwhile, Archive.org received more than double the donations in Bitcoin Cash than Bitcoin in 2017, although the website was only given a grand total of $4,800 in BCH. Statistically significant? Not really. But it does provide one case study in which BCH is outperforming BTC in real-world payment settings (Roger Ver sure thinks this is the future). Bitcoin Cash has been on a roll recently, heavily reaping the rewards of the SegWIt2X cancellation in the past month. BCH's price hit a high of $1,600 after CBOE president Chris Concannon said that Bitcoin Cash could get its very own futures market on the exchange in 2018. It will obviously take time for specific currencies to emerge as the clear winners – adoption rates will vary depending on the coin, and the institution. But we're starting to see certain tokens pull away from the crowd.

 

Meet crypto kitties: the Neopets of the crypto world. The world is going crazy for these digital cats, spending over $1 million thus far (and clogging the ETH blockchain).

Maybe it's time to switch to solar...Bitcoin mining now takes up more energy than many African countries.

North America's largest mining operation is coming to fruition, with a total of 57 data centers mining crypto in Canada and the US.

Coin to Watch

WAX (WAX) raised over $80 million in their ICO and is looking to be one of the most successful video game-based tokens on the market.

 

Daily LOL

It's a close call.