No, India's not banning crypto. *headdesk* 😤
In my humble opinion...
let yourself get carried away by the fantasy of a bankless world.
I don't know if I've stated this before, but my bullishness is not about the #Bitcoin price. I'm bullish on the future. The future of a digital world where the monetary system has finally caught up with the technology around it. Think about a bankless world. Think about freedom.
— The Professor (@ProfesorCrypto) February 1, 2018
Coin of the Day
Dark pool trading market (sounds scary, but it's really cool)
(CRYPTO: REN) Republic Protocol is a decentralized dark pool for cross-chain atomic trading of Ether, ERC20 tokens and Bitcoin pairs. A dark pool is a trading market where orders between buyers and sellers are private from each other, facilitated by a ‘hidden order book.’ It allows traders to make large trades without revealing their identity or the size of the sale or purchase until after the order is filled. It facilitates trades at better execution prices with minimal market impact relative to exchanges with a public order book. This may appeal to individual traders and institutions looking to make big investments in crypto assets, and perhaps with the launch of Republic Protocol, we will see an influx of wealth into cryptocurrencies.
No, India is not banning cryptocurrencies – they're just starting to regulate them. The market seemed to misinterpret this statement, causing a massive dip.
A bit of a change from yesterday's price hike, huh? We woke up to a sea of red (again) in what we may dub as crypto's January massacre. The market dipped a nauseating 20% after India's finance minister claimed that cryptocurrency couldn't be considered a legal tender, which many misinterpreted as an outright ban. Which...it's not. Rather, the Indian government is cracking down on illegal activity associated with crypto. Articles from publications such as Quartz proclaimed that the finance minister has "killed India's cryptocurrency party" and is looking more like clickbait rather than actual news. 1 in 10 Bitcoins is traded in India, so the story is sure to muddle the market down for a few days before recovery.
Here's some good news: the incredibly popular Japanese messaging application, LINE, announced that they're opening their very own crypto exchange and in-app trading platform (if it's passed by Japanese regulators, that is). LINE boasts a jaw-dropping 200 million active users and is hoping to convert some of those to crypto enthusiasts. This news is a significant relief for most, after Coincheck, one of Japan's largest crypto exchanges was the target of the biggest online hacks in history – burglars stole over $500 million worth of XEM (NEM's token). Luckily, the NEM Foundation is in the process of sending 58 billion yen worth of XEM to reimburse the victims of the hack. Japanese regulators were predictable, unhappy, and are thinking of investigating most exchanges in the Asian state.
The FUD is very real right now, but we have a news flash for you: government regulation of crypto is imminent and may help everyone in the long run.
Have mainstream media headlines caught your eye recently? Something like, "Bitcoin on course for worst month in three years." Fund managers and bankers galore have been on a global beatdown of crypto – and while their points such as the future government regulation and scammy tokens ring true, it's an incredible step in the right direction. It's foolish to think that crypto will exist without regulation in the long term, and there are countries currently exploring their options.
Ukraine's cyber police are in support of crypto's legalization but want the industry to be regulated ASAP (need we remind you that 57 Ukrainian officials currently own 21,000 Bitcoin?). The heads of America's Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are planning to testify on all things crypto later next week, which may set an important precedent regarding government regulations. And while South Korea may have a relationship status with Bitcoin that clearly reads, It's Complicated, they're not planning on to ban it anytime soon, and are just focused on (you guessed it) regulating exchanges in the country. So, take a deep breath. Regulation is not the end of the world.
Word on the street: a massive Bitcoin asset manager thinks Zcash may hit $60k in 2025. So...it looks like you have seven years to stock up.
Need to hire a few hands for your crypto startup? Fear not – the number of people who searched for crypto-related jobs increased by 10x in 2017.
Coin to Watch
NEO's (NEO) performance this winter has been extremely strong and is pretty heavily supported by Asia. It probably isn't going anywhere.