The Week To Be In Crypto [9/24/2018]
I started a new job last week, was a lot to take in to start, but I would like to keep this going for my 5 loyal readers so I’m back at it on the weekly.
Don’t worry the 3rd musketeer in the screenshot is just for the week and is not a statement on XRPs standing in the cryptosphere. I do find how polarizing it is to be an interesting foil to discuss the space though. What IS a cryptocurrency? My take would be a digital unit of measure that can be transferred between parties and uses some type of cryptography to enforce scarcity (in its current state, not in perpetuity). That being said I agree the general ethos of the space is one that values decentralization and openness. I dont understand the tech behind XRP enough to make a clear statement on its level of decentralization but theres no denying it is a part of the industry. Its your own call if you think its good or bad, my stance is that its an inevitability. Ignore it, build something better, or try and make money off it. The tech will always be used for things that will go against the ethos of decentralization, if it was Satoshi’s true vision to keep that from happening he would have filed a patent.
Market Overview
Bitcoin keeps chugging along, ETH holders are trying to be happy about 20% moves and forget about the 80% drop. Altcoins (like XRP) above are starting to have little runs…… Does this mean we are at the start of another uptrend? I don’t know but even if not it’s a nice little taste of the good old days. I’m not a chart guy (Im sure I’ll have a TA rant on here at some point) but I thought this was interesting. I like the simplicity of it “People have more boring money, go buy exciting money”.
I always enjoy when stupid things have big consequences, so I would really like to think that the next run could be just XRP continually nudging past ETH in total mkt cap, ETH pumping to catch back up and then the cycle self-perpetuating and proliferating down the mktcap ranks. There continues to be a torrid pace of development and progress, nothing is really being used yet but it FEELS close.
This guy is down, its got a picture of a boxer in it, get pumped
What I’m Buying
Still picking up REN, mainnet will be released by the end of the month and it will be possible for the community to start running their nodes within a couple weeks. My only concern was if they were going to have enough volume when mainnet was launched and then they just tossed this out.
OTC volume is what REN is going after and it is going to be A LOT better experience than it is now for investors to move large amount or crypto. Anyone running a darknode will be matching orders and earning fees. There is also A LOT MORE volume being traded OTC.
Otherwise, I have seen DCR popping up more and more and it really seems to be the governance coin “industry people” are giving the best chance. Im not totally convinced on-chain governance can get efficient enough to be effective anywhere in the near term but I do think its very worthwhile to try and make it work.
Recommended Media
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From the Slack
A collection of content from The Bitcoin Podcast slack group the past week
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