September 14th, 2017
In my humble opinion...
Don't be on the wrong side of the dip.
— Charlie Bilello (@charliebilello) September 13, 2017
Coin of the Day
Control where your money goes in the RE market
(CRYPTO: SRE) SmartRE is a tokenization platform on the Ethereum blockchain, helping homeowners distribute their equity into real estate investments without a fund manager. American real estate has been in extremely high demand from both domestic and international customers, with buyers outside the U.S. purchasing over $100 billion in residential properties in the States. Each property becomes "tokenized", which is a proportional representation of the percentage of equity the homeowner chooses in the form of a coin (tokenization allows for safer transactions - read more about it here).
The media is calling Jamie Dimon's bluff on Bitcoin being a "fraud". It's getting fun to watch.
The day after news broke that Jamie Dimon doesn't see crypto as a realistic venture for Americans, the market dip worsened...dramatically. Yet, Dimon's claims seem to have sparked speculation among reporters due to his obvious hypocrisy - whether it be the fact that JP Morgan has filed almost 200 "Bitcoin-replacement" patents (that were subsequently rejected) and is funneling a lot of money towards blockchain research.
Dimon's remarks have spurred dozens of responses, from Vanity Fair's article titled, "Should Jamie Dimon Be Terrified of Bitcoin?" (their consensus? Yes.) to the CEO of MGT Capital Investments aggressively challenging the idea that Bitcoin is "worse than the tulip bubble". The VF article also accurately points out that Monero is actually the currency of choice for illicit activity - not Bitcoin. (Ha!) Oh, and this Inc. article flat out says what we're all thinking: "Jamie Dimon Is Afraid Bitcoin, Crypto And Blockchain Tech Will Take His Job". It's strange to have mainstream media on your side for once!
North Korea has been mining Bitcoin, not not very much (for now).
"If you are trading Bitcoin, there's a chance you may be funding Kim Jong Un's regime". *eyeroll* That's a pretty extreme statement. News broke this week that North Korea has become desperate for money after harsh sanctions were imposed on the isolated country. Yesterday, news outlets reported that North Korea "appears to have been funding itself with Bitcoin". What would they be using the coins for? Most likely trade in China - a country that has become a hub for crypto mining and trading (even though exchanges in the communist country have been temporarily banned and many are shutting down as of this morning...don't get me started).
North Korean hackers have also recently been targeting South Korean crypto exchanges, like FireEye, in an attempt to steal more digital currency. A major flaw in the argument that mining cryptocurrency is heavily funding the North Korean dictatorship is that at a small scale, mining is an extremely inefficient method of gaining any online currency (it costs about $1,000 per Bitcoin). As of now, only one computer was found connected to mining. The real threat will begin when mass amounts of expensive mining equipment is used for a longer period of time - until then we wait with bated breath.
If you want to actually sound informed about the Jamie Dimon ordeal, watch this quick clip:
The founder of Litecoin deleted some very nefarious tweets claiming Chinese Litecoin miners are being executed by the government. *gulp*
Stupid article of the day: "Think Bitcoin Is a Bubble? 5 Ways to Short It"
Stay in the loop hodl (verb)
Coin to buy:
Ark (ARK) is still a solid buy - and is one of the coins that has managed to stay in the green this week. Up 30% in the past 24 hours, its resiliency is a good sign for its buyers.
i will fire any bitcoin investor for trading bank stocks
— Cryptopathic (@Cryptopathic) September 13, 2017