Not everyone's in love with Bitcoin futures. 😁

In my humble opinion...

security and fear are the biggest barriers to entry in crypto.


Coin of the Day

Stop competing with bots for tickets!

(CRYPTO: TKT) Technological advances have brought about some profound changes to our society. Transactions have gone from cash to credit cards, and now, to cryptocurrencies. Paper tickets, likewise, are being replaced with electronic tickets at an increasing pace. However, electronic ticketing systems have significant flaws, such as bots being used to purchase tickets from the primary market for resale at a profit, (depriving the targeted audience of tickets at the original price) and sales of counterfeit tickets. Crypto.ticket is a blockchain platform that allows organizers to issue tickets with smart contracts, granting them complete control over the ticket sales, resale, and exchange. Organizers can also regulate payments, fees and commissions from the initial sales of the tickets to redemption at event entry. Crypto.ticket promises to transform tickets into secure digital assets without any risk of fraud.

Over 24 hours have passed since Bitcoin futures were opened up to the public. And boy oh boy is there drama (sit back and enjoy the ride).

Cboe's CEO Edward Tilly announced that the first day of Bitcoin futures trading went, "according to plan." Well, the first 24 hours sure did. Bitcoin hit a new all-time high of $17,000, which couldn't be shaken by Cboe's technical failures occurring several times on Sunday and Monday. This first took the form of their website crashing and later activating their circuit breakers, twice (a function that pauses trading during a period of extreme volatility – the first time stopping after a 10% increase and the second after a 20% price surge). Tilly also addressed the nasty open letter sent by the Futures Industry Association that said their members are worried about crypto's volatility, in addition to supposed general financial irresponsibility. The motive behind the letter becomes glaringly obvious: fear. Tilly called the letter a "cheap shot" and "irresponsible," because it essentially oversimplified the regulatory hoops the Cboe had to painstakingly jump through. Yikes.

The success of Monday's futures has spurred an onslaught of ETF filings – a welcome surprise after many were withdrawn earlier this year due to the SEC scaring the field into submission. A critical insight from one of our sources told us to remember that the futures are settled in cash, not BTC, and the price is taken from the Gemini Exchange. Right before the settlement (early January for Cboe), we should expect "a lot of volatility" as futures participants try to manipulate the market up or down to make their futures trades more profitable. CME's futures contracts are set to be released this upcoming Sunday night (December 17th), so it'll be interesting to see the two companies' contracts move side by side.

Stop asking whether gold or Bitcoin will 'win'; they're different assets with a different consumer base, and serve different needs. Duh.

Let's nail this problem down once and for all: Bitcoin and gold are different assets, and it's not a matter of either/or. It's a matter of what your own long-term and short-term investing goals are. According to Jeffrey Currie, the head of global commodities at Goldman Sachs (one of the most pro-crypto banks in the United States) the buyers for these two assets are relatively different and don't detract from the respective investor groups. The bottom line is that a tech-savvy millennial probably isn't going to be putting their money in gold, at all.  And while he added that there's "no exodus for gold," future generations are likely to be more bullish on Bitcoin than other assets, according to a survey published earlier this year. 30% of millennials chose Bitcoin over government bonds, 22% over real estate, and 19% over gold. These percentages are expected to increase in the coming years. Sleep with one eye open, traditional assets.

Don't worry, there's still plenty of speculation and hesitation from the mainstream media around crypto. Apparently, North Korea may be "making a fortune" from crypto's rise in price, although we're a bit skeptical considering that their 'successful' hack of a South Korea exchange earlier this year only resulted in a current net gain of several hundred thousand dollars. So, 'fortune' may be a relative term. Oh, and this graph from the Wall Street Journal was a massive hit on Reddit last night. Nothing says "shots fired" like measuring a digital currency's physical assets against banks who own quite a bit of property.

ICYMI: Australia is the first country to move their stock exchange to a blockchain. Thanks to the upgraded security features, the Aussies will switch in March 2018.

Silly article of the day: "Missed the bitcoin boom? Five more baffling cryptocurrencies to blow your savings on." FYI, it's still early on in the crypto game.

"Boil the oceans." This is something mining crypto will *not* do. Cash production and gold mining are actually much worse for the environment.

Coin to Watch

NEM (XEM) has been performing steadily, which is a bit of a relief after this insane week.

Daily LOL

There's an easy way and a hard way.