Todays most important topic on r/rBitcoin. Satoshi made out of dollars. The most unimpressed impressed face. It’s funny how this poor guy has become the face of Bitcoin. Yet it could’ve been multiple people who worked on Bitcoin before releasing it. Poor guy.
Apparently, it’s now official. Bitcoin is in a bear market. Whoa, really? Bitcoin with 65% losses and Ethereum over 80% loss over the space of 9 months, and NOW it’s official. I’m glad we can agree there. I was in some confusion personally.
So, the real reason for this is one indicator which technical analysts use is the 200 day moving average, which Bitcoin has now fallen below. I just think it’s funny that there’s this seeming disconnect between the reality of the situation and what some key indicator says in determining whether or not it’s actually a bear market.
But why 200 days? Why not 210? Why not 190? Human psychology. I wish I could give you a better answer. Sadly that’s about it. Many see it as a useful indicator, and that if Bitcoin is still around $6k after this 200DMA, than you have some evidence that Bitcoin has potentially hit the bottom.
Again, I think that’s been rather obvious, but good to know.
US National debt now at worse levels than in 2008. https://nypost.com/2018/09/22/next-crash-will-be-worse-than-the-great-depression-experts/?utm_source=reddit.com Now over $21 trillion. Read.
Shall we rub our hands at the thought of Bitcoin going up, or even staying stable if a global recession came around? It does do one thing, it shows the need for a global cryptocurrency which is less susceptible to bad actors, but no I don’t see Bitcoin mooning when people lose their jobs, make less money from their businesses or just generally struggle financially. Do you? Let us know if you disagree and why in the comments.
One of Bitcoin Cashs main evangelists in Jihan Wu:
The man possibly solely responsible for the coin surviving directly after forking, propping up the network seemingly single handidly. Thinks side chains and lightning network are scaling solutions….https://twitter.com/Excellion/status/1043113025606049792
- Excellion
What? I thought the whole purpose of forking Bitcoin was so that you could have one going with SegWit and scaling off chain, while the other one wants to scale on chain. The amount of bashing of the lightning network from the bitcoin cash community was severe, claiming there not your bitcoins anymore but blockstreams etc etc. I’m so confused. Was it really all just about money and power?
The more time that goes on it makes this conspiracy scetch I made at the time of the Bitcoin fork look more and more likely. Roll it..
For the record I am not claiming that I know, but it does look more likely than the extreme alternative…
So there’s this thing that Ivan on Tech does which I think is pretty cool, and it’s not the way he pronounces Ethereum, which is cool, but he will occasionally do a post ICO update on projects he featured at ICO stage, to see where there at and what progress they’ve made, which I think is a really good idea and I might try and do that with a few projects I’ve featured.
In some of my past videos you’ve heard me talk about Ternio and their exceptionally fast blockchain called Lexicon. For those that don’t know, Ternio is providing the Lexicon blockchain framework to the enterprise business market. Fintech, Government, Advertising - or any other industry requiring an ultra fast blockchain. Lexicon is 3rd party verified at over 1 million transactions per second and enterprise business requires massive scale in order to drive adoption.
After my first few videos on Ternio people wrote to me and asked why a general consumer would need to hold TERN, Ternio’s token, if they are only targeting the enterprise business space. It’s a great question.
Ternio has also developed something called The BlockCard. It’s a physical debit card that enables the card holder to spend BTC, ETH, XLM, and TERN at their corner store or online. The card can be used wherever credit cards are accepted.
The guys at Ternio recently put out a cool video of one of the founders using The BlockCard at Starbucks. It does a great job of showing how frictionless it is.
[Show video clip]
The BlockCard is a really great concept and is going to do a lot to spur the adoption of cryptocurrencies in the real world. I definitely want one of those.
Ternio is basically SAP, Ripple, and VISA all rolled into one. They are doing a lot and actually delivering a product. It’s rare to see a crypto company execute so quickly. I hope Ternio is going to be one of the major successes in the blockchain space.