September 26th, 2017
In my humble opinion...
No one believes bitcoin will be $1 million. Stranger things have happened.
"China will ban Bitcoin and the price will be near $4,000."
Absolutely no one would believe you if you said that in 2015.
— Kevin Pham (@_Kevin_Pham)
September 20, 2017
Coin of the Day
The smartwallet for "normal" people
Have you ever tried to walk someone through buying and selling crypto for the first time? Yep, it's a complete drag and complicated for a lot of people. Divi Project'ssmartwallet hopes to solve the technological barrier a lot of people face when buying and selling bitcoin and altcoins. Long wallet addresses and confusing interfaces make the barrier to entry incredibly high. Divi offers not only a social profile for all users, but also a marketplace to spend your hard earned coins. The company also addresses a major concern for many crypto enthusiasts - Divi passes the "Howey Test" (read more about that here) and has plans to incorporate a taxation feature if need be.
Divi's coming up against some intense competition: companies like Metal are also in the processes of launching portfolio/ crypto managers. We'll be interested in seeing which smartwallet rises to the top.
Africa continues to be a strong supporter of crypto - even if it's an unwilling adopter.
Let's start with Africa: The Nigeria Central Bank is working hard on a whitepaper examining blockchain tech. The bank director was quoted as saying the country, "cannot stop the tide of waves generated by the blockchain technology and its derivatives." A rep for Nigeria later went on to say that blockchain technology and cryptocurrency were an up and coming trend "whether we like it or not." Well, even if it's not the most...enthusiastic of quotes, it's still a step in the right direction.
South Africa's largest supermarket is testing bitcoin as a method of payment, and is proving to be somewhat controversial. Here comes the ol' "use case" debate - we've heard it all. From micropayments to criminals to a...marketing scheme?
People still have hope for China. And for everyone's sake, so do we.
Despite the current Chinese ban on ICOs and crypto exchanges, it probably isn't the end for bitcoin in the Asian economic superpower. While some writers argue that the 19th Communist Party elections held in mid-October will result in an end to the ICO ban altogether, others believe it may be a temporary fix to an overall problem: a threat China's massive financial systems. After all, the bitcoin economy isn't really that big in comparison to the Chinese market; overall the threat is most likely perceived rather than real.
A good example of this is the persecution of Falun Dafa, a peaceful meditation practice that was banned in China due to the sheer number of members - it eventually outnumbered the Chinese Communist Party. Its practitioners are tortured and killed even today, despite the Chinese government's initial endorsement in the 1990s due to the physical and mental health benefits its participants often experience. There is little doubt amongst crypto experts that the government will not support any financial threat to the yuan.
Despite a lot of news saying otherwise, many banks are still courting blockchain. First date, anyone?
Fancy yourself a data visualization lover? Bitcoin.com has six websites that make the crypto market look sexy.
Could crypto be making us...nicer? This writer thinks so.
Coin to Watch
Last week, we recommended that you check out NEO (NEO). If you had bought it then, you would've made a 30% return by today. Just saying. 😁