November 29th, 2017
In my humble opinion...
time to stop relying on luck.
This market makes everyone who invested in crypto look like a genius.
The people who have not invested in crypto yet should know many of us were just lucky. You'll only find out who the skilled investors are after a downturn.
— Tushar Jain (@TusharJain_) November 28, 2017
Coin of the Day Bounties that benefit the greater good
(CRYPTO: BNTY) Bounty0x offers a platform on which anyone can outsource work by placing a bounty on a task. Their goal is to boost the efficiencies of any industries with their platform, with bounties being used to help particular milestones be completed. From contracting social media influencers to promote products to governments, corporations or non-profit organizations setting bounties on relevant research such as finding a cure for cancer. In addition to placing a bounty (“bounty hosts”) and completing tasks (“bounty hunters”), users can also become “bounty sheriffs” to perform quality checks on tasks performed by other users and get rewarded for it. Bounty0x promises a new platform not only to outsource work but also for people with specific skills to find work more efficiently on its decentralized platform.
Consensus: Invest brought together the best, the brightest, the weirdest, the most impassioned of the crypto community.
Consensus: Invest in New York City was packed with a diverse group of crypto-enthusiasts. While most blockchain and investing conferences generally sway towards a more crypto purist standpoint or ally with traditional financial institutions, the hotel had a lot of big personalities with assorted strong viewpoints. This made for some extreme (but entertaining) chats. Here are some highlights:
- The hedge fund demand for crypto is almost insatiable. One person we spoke to at Consensus said that a fund manager is fielding new clients, 90% of which inquire about cryptocurrency. A massive hesitation with fund managers? Reputational risk – one bad coin, and you're done.
- "The most important aspect of ICOs or token sales is the actual execution of the product or service, and that takes time," explained Philipp Pieper, CEO of Swarm. The company recently executed their first successful democratic vote, with 10% of their token sale investors participating.
- Pieper went on to compare the current state of the crypto industry as an "ugly child", and the future as a kind of exciting "explosion" – but it's going to take a lot of development. There's a lot of growing up for crypto to do. Until then, there's probably going to be a period of disillusionment of the industry by the general public.
Bitcoin's now over $11,000 on Cryptocurrency Coin Capitalizations, and people are freaking out.
Still, general agreement seems to be that $11,000 is not Bitcoin's moon (sorry Roger Ver) – not just because we're excited to see the price skyrocket in the coming years, but also because for many, crypto is an exit strategy from the current financial institution. That being said, people are still concerned over the incredible run Bitcoin's had this week, which may not stand on "shaky ground", as the token as yet to rebalance and come back down to a normal price point.
Bitcoin hits $10,000. 🚀🎉🎊
Congratulations to all the hodlers! This is by far the strongest Bitcoin bull run I've seen in 6+ years.
Now take some profit off the table. You deserve it for believing when no one else around you did. 👍 pic.twitter.com/liukpusOZ8
— Charlie Lee [LTC] (@SatoshiLite) November 29, 2017
It looks like people are starting to get the picture. Even though a University of Cambridge professor claimed that Bitcoin is, "nothing short of an economic miracle", its managed to be relatively accepted, and the ball is starting to roll. TechCrunch founder Michael Arrington announced yesterday at Consensus: Invest that he's raising $100 million for a crypto hedge fund, and will be the first fund to make investments in Ripple (which has been having a stellar month – they recently announced a partnership with American Express). Not convinced of crypto's future in everyday transactions? Look into Bitcoin's newest fork: Bitcoin Lighting. It aims to make transactions incredibly fast, and able to be used for smaller transactions. We're excited.
Stupid article of the day: "Five Ways to Short Bitcoin". There's a reason the term hodl exists.
Wells Fargo has been taking advantage of its customers with its foreign exchange rates. Crypto's fees have been a major con, but at least they're totally transparent.
Watch out, Elon Musk. People are using their Tesla batteries to mine crypto. Oh, and despite previous reports, Musk is not Bitcoin creator Satoshi Nakamoto.
Coin to Watch
Want to have a minor heart attack? Check out Cardano (ADA) has had an incredible few days, and their graphs are utterly stunning.
Crypto helped me escape a 9-5
Except... I'm now in a 24-7
— loomdart (@loomdart) November 28, 2017