Sankalp’s Blockchain & Bitcoin Snapshot — Issue #10
One year ago: bitcoin = $580 (up 7x), ether = $11 (up 27x), ripple = 0.006 (up 25x), litecoin = $3.60 (up 13x), dash = $13 (up 22x). In the last year it hasn’t mattered so much which cryptoassets you’ve chosen to HODL, it just matters that you’ve been a HODLER. I wouldn’t expect such undiscerning cryptoasset appreciation to hold for years to come, though. As the cryptoasset markets professionalize, investors and traders will become more discerning. These are the goldilocks years of crypto
- Chris Burnsike
Your Bitcoin Wrap Up:
We have been in Singapore this week and meeting lot of enthusiasts, projects, newbies, traders, hedges, govt, etc etc. Its been enthralling least to say. More on our adventures below.
Everyone wants to start an exchange. Everyone wants to do an ICO. Everyone wants to trade cryptos. It seems everyone wants to do everything, We have been helping streamlining that with our two pence worth.
0X and its new wave of Decentralised Exchanges. A decentralized cryptocurrency exchange has a central authority or in other words a single point of failure. You deposit funds directly, they match buyers to sellers, example Coinbase, Kraken, and ShapeShift. But then we also had MtGox and Bitfinex — famously hacked for approximately 650,000 BTC and 120,000 BTC. So basically users have to trust them.
Great article and more information by Hacker Distributed below. Must read if you want to know more.
Bitcoin Cash has been another hot topic and what is supposed to happen in November. No one knows. In hindsight, no one knew Forking would create such a rapidly rising BCC either. Most hate it as it has halted the BTC rally. We are neutral as it touched about $1000 with daily volumes around $4.4 billion, more than BTC and ETH. Now is the consolidation week for both BTC and BCC but a longer term bullish view from here on.
Everyone is also talking about ICO’s. The smart investor wants to know the TEAM and EXECUTION plan, because they are the ones with big bucks now. Getting in and out of ICO’s is also becoming tricky. Liquidity providers and hedge funders want to MAKE This market now. Most ICO’s are boring (read between lines) and don’t make sense. You must be able to write a whitepaper if you want to do your own ICO. Otherwise, please go home. Short term everyone wants to get in these ICO plays — including institutional money now. Its clear with ETF filings, creation of crypto funds (atlas four of them have approached us in some shape or form) etc etc.
Video of the Day
Top 10 Blockchain News
Could Blockchains Lead to the End of the Nation-State As We Know It? — Never Stop Marketing — www.neverstopmarketing.com
Before I go on, let me tell you that Ralph Merkle isn’t some crazy out there, he’s only the guy who invented the “Merkle Tree” which is nothing short than a key component of how the Bitcoin blockchain (and many others) actually work.
Bitcoin Cash Rises Triumphantly to Near $1,000, Bitcoin And Ethereum Fall — www.trustnodes.com
Bitcoin Cash has seen its price rise from $300 to $972 in an incredible bull run that begun yesterday and seemingly continues for today.
Wall Street Bear Tommy Lee Still Bullish on Bitcoin — $6,000 This Year — cointelegraph.com
Tommy Lee, the notorious founder of Fundstrat, one of the largest independent research and analysis firms, has repeated his projection of $6,000 for this year, and $25,000 by 2022 in spite of recent dips.
Ethereum Announces Metropolis Hard Fork Coming Late September — cointelegraph.com
The Ethereum Developer team has just released word that the Metropolis hard fork is set to occur in late September of this year.
Toronto Receives its First Ethereum ATMs, Targeting Mainstream Adoption — cointelegraph.com
LocalCoinATM, the Ontario-based bitcoin and Ethereum ATM manufacturer, has installed its first batch of Ethereum ATM in Canada.
The Cost of Decentralization in 0x and EtherDelta — hackingdistributed.com
This post examines decentralized exchanges
Ethereum + Lightning? Buterin and Poon Unveil ‘Plasma’ Scaling Plan — CoinDesk — www.coindesk.com
But while these limits were once a potential problem discussed by researchers, they’re now affecting real users. The world’s second-largest blockchain platform has recently seen a slew of capacity issues, including rising smart contract fees that occasionally bog down transaction times and interrupt new ICO launches.
How Smart Contracts Will Change the Financial and Legal Systems — Part 1 — coinidol.com
CoinIdol conducts interviews with two experts investigating the issues and evolution of smart contracts concerning how they will change the financial and legal systems. This is Part 1 of a two-part interview.
Investment firm VanEck calls bitcoin a ‘fad,’ then files for bitcoin ETF — www-cnbc-com.cdn.ampproject.org
Money management firm VanEck is both skeptical of bitcoin and planning to sell a related investment product, illustrating a rising perception that the surge of interest in the digital currency creates a high-risk opportunity that may be too big to miss.
