Is now the time to buy? 💢
In my humble opinion...
stop freaking out about South Korea and get to work!
Every minute your eyes are glued to a price chart is a minute of productivity you could be using to contribute and add value to the crypto ecosystem.
— Jameson Lopp (@lopp) January 16, 2018
Coin of the Day
(CRYPTO: HQX) HOQU is the world’s first decentralized affiliate platform that allows merchants and affiliates (such as bloggers or marketing specialists) to interact directly with one another without having to deal with brokers or any third parties. Currently, the commissions for the middlemen in the advertising industry ranges from 3% to up to 25%, the upper range of which significantly undercuts both the merchants and the affiliates. HOQU offers a flexible platform on which merchants can utilize smart contracts to guarantee payouts to affiliates upon the execution of specified actions completed, such as payment on sales, phone calls and installment of a software. With this new and reliable platform for advertising, not only do merchants and affiliates stand to gain, but it will serve to boost the advertising industry by inviting more people to become affiliates.
Ah, nothing like a plunging market to test your stomach for a little price dip. Having déjà vu? Well, this same thing happened...exactly a year ago.
Yesterday, the top 68 altcoins and Bitcoin were in the red, with Bitcoin dipping below the faithful $10,000 mark (it fell $1,300 in 90 minutes – yikes) and Ripple beneath $1. Don't worry, anyone who says that crypto was a scam you were stupid enough to buy into clearly isn't paying attention to traditional stocks and bonds, which had its biggest reversal in ten months. So much for the January Effect – the theory that stock prices increase during this 31 day period due to an increase in buying. Bitcoin Futures also dropped to their lowest point since they launched, American treasury yields decreased, and the NASDAQ and S&P closed lower than they did on Friday of last week. Goldman Sachs reported its lowest revenue in two years. So, shut up Becky (a little comic relief from Reddit).
If you're freaking out, here's a bit of relief: this dip is actually just as severe as the market plummets in January of 2017. In fact, every January for the past four years has had an extreme market dip. So while the fear of South Korea exiling crypto and China's threat of eliminating crypto even further definitely aren't helping the market, they're not the only causes. Exactly a year ago, crypto's market cap had lost $200 billion – and crypto still had its most successful year of all time. When 2018's recovery will be, we're not totally sure. Don't worry, Mark Cuban promised that the Dallas Mavericks will accept Bitcoin as payment for game tickets. A businessman just bought two electric power stations in Russia to mine BTC. Oh, and if you're closely watching Bitcoin's charts, this technical analysis says to look for BTC's price breaking $13,000 – after that, it should be relatively stable.
Traditional businesses are trying to integrate crypto successfully, while crypto-based projects are trying to be better businesses in general. Not all are succeeding.
Remember BitConnect? That cryptocurrency that was sent several cease and desist letters, because they were, to put it lightly, a Ponzi scheme? Well, they just officially shut down their exchange and wallet, causing its price to (understandably) dip 91%. Could this be the end of an era – the time when obvious scams garnered tens of millions of dollars from their ICO? Probably not. But that doesn't mean real businesses can't use blockchain technology for good.
Now, onto the more established business side. Kodak announced that their Kodakcoin, their "photo-centric coin" that will help photographers and artists control rights management, is planning on launching their token on Overstock.com's cryptocurrency exchange. Kodakcoin is now the first third-party coin to be listed on the exchange, TZERO. Meanwhile, the United Nations Children's Fund (UNICEF) is looking to fund early-stage humanitarian blockchain startups and wants to offer equity-free investments of $50,000 to $90,000. Worried that UNICEF's money will be going into a void? Fear not – Cornell researchers found that Bitcoin and Ethereum's blockchain aren't as decentralized as we thought. Their longitudinal study, which looked at the practice of decentralization (rather than they hype around it) and the nodes, their interconnectedness, and how they stood up to attacks. Bitcoin nodes tend to be more clustered together both geographically and in network latency than Ethereum. Mining for both tokens is "very centralized, with the top four miners in Bitcoin and top three miners in Ethereum controlling more than 50% of the hash rate." Hm...food for thought.
The wait is over: IBM and Maersk officially started their blockchain supply chain company, which could be groundbreaking for the logistics industry.
Still confused about Bitcoin's legality around the world? Here's a handy map that visually depicts how each country treats crypto. Neat-o!
Coin to Watch
You may see certain altcoins in the green today – which is likely due to these tokens' teams pumping their coin afloat. So we recommend doing a double take on some coins still in the red, and peek at Qtum (QTUM). Nothing like getting a 25% discount...right?