DAILY TL;DR W/ CHESLINK
DECEMBER 25TH-29TH
December 28th
- BTC NEWS
- IN OTHER NEWS
MARKETCAP ANALYSIS
Recap from 11/20
Market Cap: $243,311,416,536
24h Vol: $7,403,167,283
BTC Dominance: 56.2%
As of 12/11
Market Cap: $462,879,608,891
24h Vol: $25,098,117,991
BTC Dominance: 61.7%
As of 12/20
Market Cap: $628,445,215,824
24h Vol: $52,537,317,094
BTC Dominance: 47.2%
As of 12/26
Market Cap: $588,891,066,956
24h Vol: $27,032,217,959
BTC Dominance: 45.6%
As of 12/28
Market Cap: $553,167,224,809
24h Vol: $30,545,136,273
BTC Dominance: 43.5%
BTC NEWS
Korea and Bitcoin/Crypto Regulation
• https://news.bitcoin.com/south-korea-new-attempts-crypto-markets/
This follows the regulators’ previous announcement on the virtual account clampdown that is part of the “emergency measures” on cryptocurrency regulation, which news.Bitcoin.com reported earlier this month. Even before the emergency measures were announced, banks anticipated the ban and already stopped issuing new virtual accounts, news.Bitcoin.com also reported. This would effectively put some exchanges out of business.
Under the measure, only real-name bank accounts and matching accounts at virtual currency exchanges can be used for deposits and withdrawals, while the issuance of new virtual accounts to cryptocurrency exchanges will be banned…The Financial Intelligence Unit and the Financial Supervisory Service will carry out joint inspections to make sure that such real-name transactions will take root at an early date.
The Ministry of Justice, which heads the task force to spearhead regulations, has been a proponent of extreme measures. Earlier this month, the ministry suggested a blanket ban on cryptocurrencies in South Korea. However, this proposal was not adopted in the emergency measures.
During the Thursday meeting, Hong mentioned that the Justice ministry suggested “shutting down cryptocurrency exchanges.” However, the meeting’s minutes do not indicate whether other ministries support this idea. Furthermore, Hong reiterated that the government will strengthen requirements of local exchanges to prevent money-laundering and toughen punishments for crypto-related crimes. The government will also put restrictions on cryptocurrency advertisements.
Bitcoin Value Debate
• https://www.bloomberg.com/news/articles/2017-12-27/bitcoin-s-rebound-eases-as-cryptocurrency-watchers-debate-value
"It’s much more likely once you’ve made a big downward movement like the one we made last week that you have a bigger and more complex correction," Ric Spooner, a Sydney-based analyst at CMC Markets, told Bloomberg Television. "Once a market like this one locks into those patterns it becomes pretty good" to follow via chart-based analysis, he said.
Spooner said it’s possible bitcoin could drop to $5,700 or $8,700 in coming months.
20 Years Ago Bitcoin was “Predicted”
• https://news.bitcoin.com/twenty-years-ago-two-men-predicted-bitcoin/
“Now the advent of the Information Age implies another revolution in the character of money,” a subsection at almost the exact middle of TSI, written in the late 1990s, starts. “As cybercommerce begins, it will lead inevitably to cybermoney. This new form of money will reset the odds, reducing the capacity of the world’s nationstates to determine who becomes a Sovereign Individual. A crucial part of this change will come about because of the effect of information technology in liberating the holders of wealth from expropriation through inflation,” they write.
He was around 67 years old when he and his co-author, Mr. Davidson, continued in TSI during the late 1990s, “Soon, you will pay for almost any transaction over the Net or World Wide Web at the same time you place it, using cybercash. This new digital form of money is destined to play a pivotal role in cybercommerce. It will consist of encrypted sequences of multi-hundred-digit prime numbers. Unique, anonymous, and verifiable, this money will accommodate the largest transactions. It will also be divisible into the tiniest fraction of value. It will be tradable at a keystroke in a multi-trillion-dollar wholesale market without borders,” they predict.
“Inevitably, this new cybermoney will be denationalized. When Sovereign Individuals can deal across borders in a realm with no physical reality, they will no longer need to tolerate the long-rehearsed practice of governments degrading the value of their money through inflation. Why should they? Control over money will migrate from the halls of power to the global marketplace,” the claim, again twenty years ago.
Massachusetts SoCW Hates Bitcoin
• https://cryptovest.com/news/us-state-securities-regulator-lays-into-bitcoin-with-a-vengeance/
Massachusetts Secretary of the Commonwealth William Galvin appeared on CNBC late Wednesday and laid into Bitcoin with a vengeance. Despite the cryptocurrency’s rapid climb this year, and it being able to attract the likes of the Cboe and the CME, Galvin is unimpressed.
“[Bitcoin] doesn’t pass the smell test. There’s no product here; this is entirely speculative. That’s already been proven by its wild gyrations in value.”
Analyst Predicts 4 Major 40% BTC Corrections in 2018
• https://cryptovest.com/news/gird-your-loins-bitcoin-traders-analyst-sees-four-crashes-in-2018/
For example, we recently told you about a player who said this week that Bitcoin could soar as high as to $60,000, but it could also fall to as low as $5,000. That was TenX co-founder and president Julian Hosp. He added that price corrections would continue.
Bitcoin traders who can’t tolerate Bitcoin’s crashes will be miserable in 2018 if Colas’ predictions about its crashes hold true. He thinks it could crash at least four times next year, and those crashes could shave at least 40% off its value each time.
IN OTHER NEWS
Kyber Network and Change Bank
•
https://twitter.com/changefinance/status/945656290021220353
- changefinance
• https://blog.kyber.network/kyber-network-is-ready-for-change-new-collaboration-announcement-85f9b7bf8b62
Change is a mobile app that aims to become a one-stop decentralized platform for all things finance. Payments, storage, investments, peer-to-peer loans, fund transfers — these can all be done effortlessly with Change.
Kyber Network is pleased to be Change’s latest partner in this ambitious vision for finance without borders. The integration of our protocol with the Change Wallet will allow more users to exchange ERC-20 tokens with very little fuss. Change customers will be able to use our on-chain, conversion services to send and receive different cryptocurrencies without ever leaving the wallet or using any other interface, allowing for simple portfolio management.
Chinese Evading Govt. Crypto Laws
• http://www.coinnewsasia.com/chinese-crypto-users-evades-government-sanctions-on-crypto/
There is unquestionably a decent arrangement of proof that would recommend China’s bitcoin aficionados have escaped as opposed to just stop to work. In reality, prior this month, Huobi, once the pulsating heart of the Asian Bitcoin exchange scene, has quite recently flown back onto the radar in Japan. At its pre-boycott crest, Huobi’s Beijing-based, exchange charge free stage supporters from more than 130 nations and districts. It additionally represented 60 percent of overall bitcoin exchanges. The organization discharged an announcement on December 7 asserting it would start working two trades in conjunction with money-related administrations organization SBI Group.
Waves Starting New Offices
• http://blocktribune.com/blockchain-platform-waves-establishes-presence-amsterdam-moscow/
The Primalbase partnership will also provide the opportunity for Waves to establish new bases in other key business/blockchain hubs around the world over the coming year and beyond, as it launches new technology and seeks to consolidate its position as the foremost blockchain tokens platform.
Aditional locations are expected to be opened in the coming months. The company said a London office will become active in February 2018, in addition to Singapore and New York later in the year.
Korean Banks Will Allow Crypto Accounts Once Again
• https://news.bitcoin.com/korean-banks-bitcoin-point-swap-services/
Ever since Choi “expressed the government’s intention to ban financial services firms from directly dealing or setting up shop in the cryptocurrency market, banks have one by one halted their cryptocurrency-related offerings,” Korea Biz Wire added.
Most major banks have already stopped issuing virtual bank accounts to cryptocurrency exchanges, as previously reported by news.Bitcoin.com. Virtual accounts are needed for trading cryptocurrencies in Korea.
KB and Shinhan has partnered with Coinplug to allow their credit card points to be redeemed for bitcoin, they are discontinuing this service in January.
Exchange Developer Kidnapped
• https://investfeededge.com/crypto-exchange-head-kidnapped-ukraine-data-allegedly-secure/
Pavel, a 40-year-old Russian citizen who also has a residence permit for Poland, is the managing director of EXMO, a popular UK-based crypto exchange with a large user base in both Russia and Ukraine, since it offers trading pairs with the Ruble. Lerner is also a prominent figure in Ukraine, where he is involved with multiple blockchain and crypto mining startups.
Meanwhile, EXMO’s PR department has released a statement assuring users that Lerner had been working with the company primarily as an analyst, and had no access to the user database or the exchange’s servers, so his abduction will have no impact on the exchange’s operation in any way. In addition, the company has stated that it will be grateful for any information from the public that might help locate Lerner.
HYUGs Updates on Random Coins
- Looks like $SALT is finally live. They've already issued initial loans (approx,. $10m) to testers and will gradually allow access in the order of Enterprise members, followed by Premier members, and then to Base members.
- $LUN is rolling out new features like a monster. Most of the core components (content publishing, peer review, advertisement, reward) are near completion. Users can now use LUN on it's platform.
I'm personally translating their dev updates and they put in a lot of effort not just in development but also communication, and also token value for investors. I think the latter is really important because some projects care about development only and that can be frustrating for the community as a whole.
Price has gone up, volume is increasing. - Make sure to check out BitDegree. It's basically Coursera on the ethereum blockchain where students, mentor, teachers, employers can all benefit from education on things that matter in this age. I'm very bullish about these first-mover projects that has the potential to disrupt existing players and bring new players to the game.
- $BTC looks like a head and shoulders.
- $PRO is at $1.10.
- $KCS could follow into the footsteps of $BNB
- $LUX is an anonymous coin that is in the works of PoW/PoS hybrid, decentralized marketplace, interoperability with other popular blockchains.
- Simple Token ($OST), one of the most anticipated ico projects, has been listed on Binance since 12/20.
- $XRB just climbing up and up.
- Ethfinex is starting to roll out new markets for quality ERC20 tokens. I think this exchange will play a significant role in the crypto space in 2018 similar to Binance. Closely monitor which coins are being listed. Ethfinex is linked to Bitfinex which is one of the top 4 exchanges globally.