How the Grinch stole Christmas

Market Report: 15th Jan. 2019 — Subscribe to our newsletter. 👈

OUR TWO SATOSHIS

New year, new takes on Britain’s strangest news

We have already reached peak 2019 and we’re not even halfway through January. In California, a robot was dispatched to defuse a tense standoff between the police and a potential arsonist by bringing him a vape! In a throwback to a simpler time, this dog walker from Leeds stumbled upon a satanic ritual. While this village fell victim to the greatest Ponzi scheme of all — religion (/musical theatre).

THE THIRDENING TRAP?

Many feel today will see a bullish continuation that will halt tomorrow

Yesterday afternoon, at exactly the same time by Bitfinex standards, bitcoin and ether respectively jumped a maximum of 5% and 13% — having stabilised around 3% and 10% above Monday’s average price. In the fight for second place, in CoinMarketCap’s rankings, ETH is still 1.2% behind XRP — who reclaimed the coveted spot when ether dumped over the weekend.

However, even if Constantinople-induced volatility increases, considering the current uncertain state of affairs, many feel the days ahead won’t bring further bullish action — taking @TraderX0’s Twitter survey as a quick benchmark. Additionally, Salsa Tekila notes a possible bull trap being formed and @ProofofResearch reminds us that a “steep decline” in ETH’s price might take place after the fork kicks in 43 hours from now.

HOW THE GRINCH STOLE CHRISTMAS

But the launch of two new projects might steal Ethereum’s fork lights

However, despite the interesting price movement, today’s highlight lies elsewhere. While the average cryptoasset enthusiast is waiting for the US government shutdown to end, bringing with it news regarding Bakkt’s launch, the dearest aficionados are focused on building new state-independent tech. And this Tuesday two major projects come to life.

Veil — a “peer-to-peer prediction-market built on top of Augur, 0x, and Ethereum” partly funded by Sequoia Capital — is launching their mainnet and you can learn all about it here. And, perhaps most importantly, Grin — the first implementation (but not the first to launch) of the Mimblewimble protocol, a Potter-named, privacy-focused, and scalable blockchain technology — will also have its “fair-launch”, as Proof of Work’s Eric Meltzer explains, Grin is “one of the first truly interesting coins to be launched with no investors, no premine, no ICO, and no founder’s reward”. Read Eric’s post and follow the project!

WHAT YOU CAN’T MISS TODAY

Don’t leave for the weekend what you should read today

▪ Interested in learning more about Grin, Mimblewimble, and Beam? Aaron van Wirdum explains, in simple terms, the “Battle of the Privacycoins”. Learn more here.

▪ Interested in knowing the time and protecting your cryptoassets? Check out this $100k Swiss watch with a built-in crypto wallet.

▪ Interested in understanding how Dogecoin derives its price? Fellow Shibas know its all about the wow, but Max Bronstein is not impressed and explains its memetic value.

▪ Interested in visualising how Bitcoin’s UTXO — which shows the date a coin was last moved — can help time this market’s bottom? Check Delphi Digital’s great analysis.

▪ Interested in settling the debate about what Satoshi’s vision was truly about? Check out Dan Held’s historical interpretation on the matter.

▪ Interested in predictions? In addition to our own Year Ahead outlook, we recommend Ryan Selkis’ “96 theses for crypto in 2019”, now released to the public.

QUOTE OF THE DAY

Being a great technology doesn’t a great purchase make. Remember pump and dumps?

“Supposhill is now pushing $GRIN. Crowded trade.”

By Kevin McCarty