South Korea banning crypto exchanges? We'll see. ⚠
In my humble opinion...
South Korea is the captain now.
— Crypto Bobby (@crypto_bobby) December 28, 2017
Coin of the Day
Online shopping in the real world
(CRYPTO: VIT) Online shopping is a big part of our lives. Given its convenience, consumers sometimes add items to their shopping carts without any intention of actually buying the product. It has been estimated that a total of $4.6 trillion worth of items sits unpurchased in shopping carts every year. Vimarket hopes to solve this problem by introducing a virtual world which will serve as an open and public shopping cart for individuals. Using ViTokens, consumers can purchase virtual goods, or “virsions,” which will provide consumers with an enhanced experience of owning the good. Vimarket promises an innovative and interactive way to shop online. Ater all, who wouldn't want to test run a product before buying it?
So, let's get the record straight. Again. South Korea *is not* banning crypto exchanges, just tightening up the restrictions.
So, you've probably noticed that Bitcoin's price has taken a bit of a slide in the past 12 hours, hitting just below $15,000. Well, it seems that South Korea may be to blame after announcing that the country will be introducing further restrictions on cryptocurrency exchanges. No, South Korea is not really "join[ing] the cryptocurrency crackdown," because they're not outlawing it, only imposing measures to limit money laundering and other illicit activity. Duh. This involves new measures that ban new anonymous accounts, as well as the ability of the government to close down crypto exchanges if need be. It's not particularly ideal, but it seems that Asian countries have been experimenting with the level of control the government is comfortable having as crypto explodes. This Reuters article that started the mainstream media's meltdown about this new regulatory development said in an almost condescending way, "bitcoin has been extremely popular, drawing wide participation from housewives and students."It seems a bit....limiting to say that crypto is only favored by these groups, especially after a recent survey shows that 31% of Korean workers have invested in cryptocurrency, with an average investment of $5,300 per person. Apparently, 54.2% of the people surveyed think that investing in cryptocurrency is the fastest way of making money. South Korea accounts for around 20% of all cryptocurrency trading in the world, and it seems that their citizens can't get enough. Bitcoin has been trading at a 30% premium in South Korea, spurring previous regulatory rulings from the government such as a capital-gains tax on trading (which the United States and other countries already have in place for crypto). Financial firms are now banned from dealing in Bitcoin and other altcoins, as well as the limited ability for Koreans to only be active on one exchange at a time.
It's alive!! The SegWit2x project is not dead, but is it the same SegWit2x that we know and love/hate?
Here we are, again. According to the SegWit2x founder and the official SegWit2x website, the hard fork will be executed today, December 28th. There are currently eight exchanges listed as official supporters of the fork, including Yobit and HitBTC. The project is boasting updates that are supposed to sweeten the deal, with Lightning Network support, smart contracts, better replay protection, a 4MB block size, and anonymous transactions. ICYMI, SegWit2x was canceled because of a lack of consensus on the entire project. It was one of the most controversial forks since Bitcoin Cash, as SW2x had the potential to damage the Bitcoin ecosystem as a whole. Don't forget, SegWit2x is competing against other Bitcoin forks as we speak, such as Bitcoin God (GOD), which was airdropped on Christmas Day. Appropriate.
In an analysis published this morning, some crypto enthusiasts claim that the new SegWit2x fork is actually an entirely different project altogether, and is practically unrelated to the previously failed hard fork. The article goes into pretty rigorous detail, mentioning how the SegWit2x chat box straight up answered "no there is not" when asked if there was any relation to the previous project, and how their code on GitHub outlines a two million coin premine, while the website does not. Yikes. The entire team supposedly has practically no internet presence (a theme for Bitcoin forks, it seems). Nonetheless, it appears that some exchanges are looking to integrating the project into their service, with Coinbase announcing a few weeks ago that SegWit2x would be implemented in 2018.
European Union central bankers are fans of blockchain, but not cryptocurrency (unsurprising). In fact, they don't want people to call Bitcoin a coin, as it's not backed by the gov't. Lame.
ZeroHedge predicts the crypto market will have at least 4 crash of 40% or more in 2018. "Of course the volatility we've seen will continue." Yeah, probably.
There's been a lot of talk about loyalty programs and the blockchain recently, but have you heard of Nucleus Vision? With a Telegram group of 19,000 people, it's quickly becoming a popular project.
Coin to Watch
— Coinsiglieri (@coinsiglieri) December 27, 2017