Forward to a friend.
In my humble opinion…
crypto-heads love to be bitter (for good reason).
Hmmmm so the “evil unregulated crypto market” has only trace amounts of money laundering activity, meanwhile the “good regulated fiat market” has the vast majority of it…. https://t.co/FbEfz2pvZF
— Erik Voorhees (@ErikVoorhees) February 13, 2018
Coin of the Day
Crypto’s response to Reddit,
research databases, and media outlets
It’s gettin’ hot in here. Well, in Iceland, to be more specific. There’s currently a mining boom, which begs the question, how will countries deal with this rising industry?
The big headlines yesterday concerned Iceland’s complicated (but potentially awesome) relationship with mining. In case you didn’t know, Iceland is pretty freakin’ rich in hydropower and geothermic energy – so much so that 70% of their electricity is created from hydro, and the rest from geothermic. A lawmaker from Iceland’s Pirate Party wants to tax Bitcoin mines because these companies are generating value in the form of crypto. The issue? If one thing is for sure, it’s that mining is far from dead.
The opposing argument suggests that since computers always require some form of energy to operate, crypto mines shouldn’t be taxed at all. Believe it or not, Iceland is still reeling from the 2008 recession (and is understandably conservative about new money systems), but the hard facts don’t lie: cryptocurrency mining in Iceland is probably going to consume twice as much energy as the country’s households in 2018. And that’s a scary increase of energy for the small country. At least they didn’t catch their nuclear scientists illegally mining crypto on their government work-related supercomputers, like Russia. Major bummer.
Is ‘regulation’ like saying ‘Voldemort’ in the crypto world? More importantly, can regulation be a factor of success for blockchain and tokens? Probably. So calm down, guys.
Regulation is the name of the game right now: IMF’s chief Christine Lagarde thinks that internationally regulating cryptocurrency isn’t just inevitable…it’s very necessary. Citing ‘dark activity’ (ie, dark web), Lagarde clarified that she thinks regulators should focus more on the activity tokens are used for, rather than the business entities who are incorporating them. Surprisingly, the market didn’t react negatively to the news. Could people be accepting that some form of regulation may be inevitable?
Singapore just wants blockchain to be successful (and they’ve got some goals for the technology, didn’t you hear?) but thinks that crypto speculators are actually hindering crypto’s experimental nature and the success of the Monetary Authority of Singapore’s (MAS) blockchain project. Apparently, the MAS’ goals are “fabulous.” And no, we wouldn’t recommend listening to mainland China’s media about blockchain, which has been ramping up its negative press about the technology after cryptocurrency activity has continued to practically flourish – even after it was declared illegal. Blockchain is one of the most popular new technologies and has been receiving international praise for several years. Even T-Mobile’s open-source software has been chugging along quite nicely.
One of Russia’s ministries proposed a law that would have a capital requirement for ICO organizers: projects must have $1.73 million in authorized capital, and register as a legal entity in Russia.
At the U.S.’s Technology Tools for Today (T3) conference, financial advisors were practically screaming praise for blockchain. (We’ll patiently wait for the crypto bug to bite.)
Some comic relief: the BBC does its best to explain Bitcoin. Try and hold back the eye rolls. A+ for effort, though.
Coin to Watch
Look out for Stratis (STRAT) – it’s been dealing with the classic volatility, but it may be a good time to check it out.