This is big: Peter Thiel's been hoarding BTC. 📲
In my humble opinion...
the crazier, the better.
If you're in crypto and not crazy in some way, I don't trust you.
— KP [DELETE CONBASE] (@_Kevin_Pham) January 2, 2018
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Let me upgrade, you. It looks like 2018 has already brought some impressive tech advances in crypto, and they seem to be promising.
Ah, finally. Some business plans. It looks like Ethereum's been taking some of the hardcore scaling feedback to heart, and has launched two subsidy programs focused on increasing the number of transactions per block. Now that Ethereum is reaching around 1 million transactions per day, two solid options have been proposed to solve Ethereum's slow network problem. The first is sharding, a way to scale a database by offloading certain transactions to smaller databases (“shards”) which individually process data. The second is a layer-two protocol where transactions can move on and off the blockchain to speed along transactions. We saw some serious scalability problems late in 2017, with one example being the CryptoKitties debacle; the feline project that became so popular it clogged Ethereum's blockchain and forced other ICOs to pause their fundraising. Yikes. Ethereum's founder, Vitalik Buterin, said that scalability is "the single most important key technical challenge." Right now, he may be right.Remember when Bitcoin Cash (BCH) created a ton of confusion after their airdrop over the summer and resulted in a lot of people sending BTC to BCH addresses and vice-versa (and losing their coins forever)? Well, apparently this problem is still prevalent, and someone's proposing a serious solution. The software platform, Bitcoin ABC (which, fun fact, helps a little over 80% of nodes run on the BCH network), is coming out with an update that includes CashAddr. The program will change the format of BCH addresses, allowing senders to be able to differentiate a Bitcoin address from a Bitcoin Cash address visually. Meanwhile, Genesis Mining, a cloud-based mining company, has made BCH available for trading. BCH's addition to the trading options list means that as soon as someone mines a cryptocurrency that Genesis provides hashing power for, such as Monero, Litecoin, and ZCash, they can trade it automatically for Bitcoin Cash. Solid win, BCH.
It was reported that Founders Fund and PayPal co-founder has been hodling Bitcoin since the summer, probably boosting the price yesterday. Nice.
Get ready for one of the most controversial Bitcoin moons in a while: early Facebook investor, co-founder of PayPal and co-founder of Founders Fund Peter Thiel, has apparently "amassed hundreds of millions of dollars" of Bitcoin since mid-2017. According to the Wall Street Journal, who initially broke the story, "this bitcoin bet is quickly showing promise," because of Thiel's well-known foresight in gambling big on longer-term investments (such as tech startups). To which we say...if you needed Thiel's approval, you're going to have a hard time biting the bullet buying crypto, in general. In October, Thiel said that he thinks crypto critics were seriously underestimating Bitcoin, comparing it to digital gold (AKA, it provides more longer-term value than every day transactional use). BTW, don't believe everything every investor says: Ronald Reagan's Former Director of the Office of Management, David Stockman, told CNBC that investors in cryptocurrency are "stupid" and will experience a "spectacular crash." Thanks for the thoughts, Stockman. Bye, now!
Now you know...Louisiana is the cheapest state in the US to mine Bitcoin. Uh, Okay.
The latest public company to have their shares get a boost from Bitcoin is...Hooters? Looks like there's more to their wings than we thought.
Coin to Watch
Spend your crypto on...
space travel? For the fiat equivalent of $250,000, you can experience zero gravity with Virgin Galactic's space flight. Out of this world (expensive).
when you think you understand bitcoin pic.twitter.com/gay5hsYDjq
— Mona (@Monadity) January 1, 2018