After the not so positive Weiss rating the markets seem to be going sideways
The first story : The increase in the number of BTC forks this year as much as 50 more forks, there are only 2 possible reasons for this, to actually make a superior product/asset or just another money grab.
BCH is a good example of this as they increased the blocksize from BTC’s 1Mb to 8Mb enabling faster and cheaper transactions. Others just want to latch on to the Bitcoin name and make a fast buck, on the contrary we also saw the fork of Segwit2X which absolutely did not deliver on the original intent or promises of the technology being developed
Source : https://www.newsbtc.com/2018/01/24/forking-great-up-to-50-bitcoin-forks-in-2018/
The 2nd story: An update about the regulations imposed on Japan for cryptocurrencies. In my opinion its rather good news as the loophole of using virtual bank accounts has been plugged, Deposits and withdrawals are allowed only between real-name bank accounts and matching crypto-exchange accounts within the same bank. The “real name” registration system for cryptocurrency trading will begin by January 30, 2018, with six banks, which include Nonghyup Bank and Shinhan Bank.
This is very good as the Chinese were using this loophole as a means of money laundering, so this could be one such instance where regulation in the cryptocurrency world is good as it should boost overall investor confidence in the long run.
The 3rd story : Hackers are using blacklisted bitcoin apps to steal money and personal data, according to research
* The research found that 661 blacklisted cryptocurrency apps were found across 20 app stores including Apple's App Store, Google Play and others.
* Google Play hosted the highest amount of malicious crypto apps, the report said, with 272 available for download on the app store.
* Hackers have used apps including phrases like "bitcoin exchange," "bitcoin wallet" and "cryptocurrency" to lure potential victims, according to the report.
In my opinion here are a few suggestions i have for the mobile platform :
* The Coinbase app - to convert Fiat to crypto
* Blockfolio app - To manage your portfolio
* Binance app - No1 exchange app
* Blockchain.io app - Soft wallet
NEVER SHARE PRIVATE KEYS
The 4th story : Entrepreneur Clem Chambers has released the groundbreaking social media cryptocurrency i.e plus one coin which could allow social media users to earn money for viral posts and reward online engagement while fighting against fake accounts.
He said: “The blockchain is a very real thing and if you look at the internet you’ve never seen so much fake stuff in all your life; fake followers, fake views, fake IDs, fake Twitter accounts, fake news.
“There has never been more 'fake' out there and the blockchain gives you gives the ability for people to actually socially validate what they read and what they like.”
The system also allows people to reward content they like by giving the creator a small amount of cryptocurrency.
Popular posts online can earn hundreds of thousands of views and likes.
In my opinion, if i did not mention the coins name this could very well be the description of Steem . There are only 2 possibilities for this coin to succeed i.e either integrate the coin to a platform similar to Steem or use their coin as a patreon service either way a proper conclusion can be made only with the passage of time.
The 5th Story : Fund manager Brian Kelly has insisted claims cryptocurrency is dead have been hugely exaggerated and revealed key tips for investing in the current environment.Mr Kelly claimed market was in a transitional “hand-off” phase moving from retail investors in Asia to institutional investors in the US, Europe, and Japan. Despite the gloomy market, Mr Kelly insists the prices are "incredibly healthy for the ecosystem. You shake out the weak hands. You get strong hands in there”.
In my opinion a 20-50% drop in cryptocurrency is totally acceptable, this would be considered anarchy by the laws of financial Risk management .. but thats what your signing up for .
The 5th story/ Anti FUD news : Bespoke Investment Group's Dan Ciotoli believes the cryptocurrency's price could nearly triple by the end of the year — declaring that the January crash is likely behind it. Ciotoli, a blockchain analyst and software engineer, is out with a year-end forecast placing bitcoin prices in the $20,000 to $30,000 range.
"The driver I think is going to bring bitcoin up in 2018 is bitcoin denominated commerce," he added — noting that converting it into dollars right now is too pricey.
For his bullish forecast to stick, Ciotoli says it depends on the success of the Lightning Network, a technological endeavor that's expected to roll out this year. The network's goal is to bring in a new wave of buyers by making bitcoin transactions faster and cheaper.
If the network fails, Ciotoli says, his year-end bitcoin target could drop as low as $5,000.
In my opinion : HODL
Twitter Updates :
- Ripple Q4 report + 2 new partners IDT Corp and Mercury FX Ltd
2)Dash - Credit Card buying functionality - partners with mercury cash!
3)Verge - successful hardfork
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