Is the Lightning Network enough for BTC's rebound? ⚡
In my humble opinion...
the information is out there. Go find it.
Rarely do I find people that have gone deep down the #crypto rabbit hole and come out doubting the technology’s potential to change the world.
— Chris Burniske (@cburniske) February 10, 2018
Coin of the Day Another crypto card in the game
While a $10,000+ Bitcoin may not be in the immediate future, there's still more than enough Bullish sentiment to go around. Things are still definitely moving forward.
We've had a complicated relationship with the market recently. Have you? We're betting you didn't make perfect investments, and that's okay. According to Pantera Capital's CEO and Founder, Dan Morehead, Bitcoin is pretty "under-owned" by institutional investors, showing that there's probably room to grow. Another critical development of 2018? Bitcoin's Lightning Network: it's the first successful layer built on top of Bitcoin (it's technically a second layer payment protocol, which means it somehow changes Bitcoin's blockchain), and in theory, should seriously help transactions to be made. This matters, a lot. People are also figuring out how to use multiple Lightning channels at the same time to make it even faster. It's called Atomic Multi-Path Payments (AMP). While BTC is far from the best transactional currency out there, it clearly has the brand name appeal.
Yeah, you also probably saw that note from Goldman Sachs that said all cryptocurrencies are going to zero. But wouldn't the best way to get rid of your FOMO/FUD-riddled rival be to tell everyone it's valueless? We think so (and their logic's a bit flawed). This news was a little weird to us, especially after Goldman Sachs announced that cryptocurrencies can technically be considered money, and are supposedly developing plans to set up a crypto trading desk (although this was according to people 'close to the strategy'). Huh.
JP Morgan Chase, on the other hand, released what is being called the "Bitcoin Bible": 71 pages of cryptocurrency description "excruciating detail." The most notable quote? Cryptocurrencies "could potentially have a role in diversifying one’s global bond and equity portfolio."
Crypto's alive and well in Arizona, Gibraltar and...Puerto Rico? Oh, and don't count out China. Here are all the reasons why crypto isn't going anywhere.
The news that has Reddit abuzz is that the Arizona Senate voted to allow tax payments in Bitcoin – this is a monumental start for the western United States, where mass adoption of blockchain and Bitcoin has been a touch mixed. The Winklevoss twins sure think things are about to start ramping up, after announcing (unrelatedly) that 2018 would be "another year of Bitcoin." Unfortunately, yes, the duo is back to being millionaires during the market dip (tragic). Gibraltar's Financial Services Commission (GFSC) is planning on drafting a law that will regulate ICOs. This is fantastic news, as it slowly helps normalize and integrate crypto into society – even if some crypto purists aren't particularly happy about this regulation.
Did you see that much-shared New York Times article about Puerto Rico being a "Crypto Utopia"? Keep an eye out for more developments in Puerto Rico, in the future, and the way that the New York Times writes about crypto. China's not out of the game yet, either. Binance may be working on a new startup, a Chinese app company is getting into the crypto game, and Meitu is still one of the most crypto-friendly companies (even if it's just internally).
Oh, and we can all release a sigh of relief. Bithumb is accepting new users again (Bittrex also recently began allowing more sign-ups, FYI).
Article to probably ignore: "Is Bitcoin Going to Zero?" Read if you want to understand the opposing viewpoint, ignore for FUD aversion.
The rumor mill: Ethereum is still looking at a target on Bitcoin's back. The flipping is still on the table (although it may take a few years).
Coin to Watch
Polymath (POLY) is pre-trading right now and is making an impressive debut. They're helping securities get on the blockchain, and have been getting a lot of buzz recently. Polymath is already ranked #95 on CoinMarketCap (sweet).