I’m still busy catching up my slightly behind schedule “Index” posts for 2019. I published my first one for the year on 27 March, and true to my “when I feel like it” publishing schedule, here is the second one of 2019.
For those of you new to my Index posts, this is how they work: I give the post titles hyperlinked to the original posts. Each post has a small description, perhaps with a little feedback of how a prediction went or what changed since I wrote that post. Each Index links to the previous Index and at the end
A draft proposal from China’s economic planning commission labels bitcoin mining as an industry that needs to be “eliminated.” But even if finalized in its current form, this would not automatically amount to an outright mining ban.
While local governments are supposed to follow the commission’s guidance, to take action against an industry they need a basis in the laws of the state, not industrial policy.
Further, there are past examples of “undesirable” industries that were eventually recategorized because phasing them out was found to conflict with local interests.
Seizing on this, miners are arguing that eliminating their industry would also conflict with local interests, in part because they soak up excess electricity that would otherwise go to waste.
International Monetary Fund (IMF) managing director Christine Lagarde has said that blockchain innovators are shaking the traditional financial world and having a clear impact on incumbent players.
Lagarde made her comments in an interview with CNBC on April 10, following a panel devoted to “Money and Payments in the Digital Age,” as part of the 2019 Spring Meetings of the World Bank Group and the IMF in Washington, D.C.
Contributors to the preceding panel, which Lagarde moderated, were co-founder and CEO of crypto finance firm Circle Jeremy Allaire, Sarah Youngwood — chief financial officer of Consumer & Community Banking at JPMorgan Chase — the European Central Bank’s (SCB) Benoît Cœuré, and governor of the Central Bank of Kenya (CBK) Patrick Njoroge.
Major American cryptocurrency exchange Coinbase has launched Coinbase Card, that enables its United Kingdom-based customers to pay in-store and online with cryptocurrency. The development was announced in a blog post published on April 10.
The Coinbase Card is a Visa debit card powered by customers’ Coinbase account crypto balances, which allows them to make purchases with digital currencies worldwide. Coinbase instantly converts customers’ cryptocurrency funds into fiat currency in order to complete the purchase.
Coinbase also released the Coinbase Card app for iOS and Android, which links customers’ Coinbase accounts with the app and allows them to choose a particular wallet to fund their Coinbase Card. The app additionally provides access to receipts, transaction summaries, spending categories, and other features. The card reportedly supports all digital assets available to purchase and sell on the Coinbase platform.
Facebook is harvesting our data. Cameras track our movements. In New York, landlords want to replace your keys with facial recognition technology. AI, deep fakes, phishing attacks—every day the world looks more like Black Mirror.
Enter the EFF. The Electronic Frontier Foundation, founded way back in 1990, is a non-profit watchdog for “defending civil liberties in the digital world.” They do a mix of advocacy, policy analysis, legal work, and reporting. Their site includes recent stories like “To Search Through Millions of License Plates, Police Should Get a Warrant,” and “Your Fourth Amendment Rights Should Not be Limited by Terms of Service.”
What are some privacy violations that most Americans aren’t thinking about? You don’t have to travel far from home to find egregious, systematic privacy violations. Right now there’s a bill in Oregon that’s a kind of pay-per-privacy thing that would incentivize you to sell your health data. It’s bad. And in the mainstream media, people are finally talking about how the first citizens in the United States who experience surveillance techniques tend to be low-income, marginalized communities.
The NEXT.exchange CEO and COO will be holding their first Reddit AMA.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
Nothing really special on the STEEM, we are still consolidating around the support line at 0.49$, sometimes lower, sometimes higher. We need to wait a real break out to know the next direction that the STEEM will take. Let’s keep a eye on the BTC also because it looks like the STEEM is directly impacted for any little drop from the BTC, for the UP it is another story…
The crypto band continues to stretch and many other crypto’s are striking first. Bitcoin is currently trading around $4200, however as the band stretches one can see the gravitation towards the massive breakdown area at $6300. This is pivotal because I can see the market forces taking prices there before analyzing the overall fundamentals and market conditions again deciding where to go forward. The breakdown area is a pivotal point where buyers threw in the towel and sellers pressed. This works in reverse as well. Now the sellers are on the run and the bulls need to show up.
Since my BTC post of 6 April “BTC – movements and signals – 06 April“, I’ve fleshed out my theory of BTC price movement in the months to come. Since I seem to be sharing that information sporadically in the comments sections of various platforms, I’d rather combine it all into one coherent post and share it with everybody.
In “BTC – movements and signals – 06 April” I gave two main future scenarios, specifically:
Drop back to the low $4000s – 50% probability;Rise to just over $6000 – 40% probability.
I won’t say that I now consider those to be wrong, in fact the
The Philippines is catching up to Japan with a growing number of approved cryptocurrency exchanges. The central bank has green-lighted 10 crypto exchanges so far. Meanwhile, one of the country’s largest banks now has a bitcoin ATM at one of its main branches. In addition, the Cagayan Economic Zone Authority has independently licensed 24 crypto exchanges.
“When they sell their bitcoin, users will be able to withdraw the money they made in the transaction from the ATM directly. You have to be a UBP account holder and have a crypto wallet (like Coinsph), users who do not have a UBP account can open one in the Ark where the ATM is located”.
Whatever people make of the cryptocurrency exchange Binance and its leader, Changpeng Zhao, the company’s success isn’t just unprecedented, it’s precedent-setting.
Binance, I would argue, is emerging as the case study for growing a cryptocurrency business, a success that’s much needed in a community that spends too much time talking up the potential of its technology and too little time analyzing viable go-to-market strategies that can drive the technological sea change we foresee.
In that regard, I think the market is only just beginning to understand just how visionary Binance is and what its success – in terms of market timing and product impact – says about something we all are striving to find: a model for building scalable and impactful cryptocurrency businesses.
The United States subsidiary of major European crypto exchangeBitstamp has been granted a virtual currency license from New York state’s financial regulator, according to an official press release from the New York Department of Financial Services (NYDFS) on April 9.
The license, known as a BitLicense, has been awarded by the NYDFS to Bitstamp USA Inc., a subsidiary of the Luxembourg-registered exchange.
According to the press release, the development makes Bitstamp USA reportedly the nineteenth firm to receive the department’s green light to conduct digital currency operations in New York state. As Reuters today reports, Bitstamp Europe SA was granted a payment institution license back in 2016, which authorized its operations across all 28 EU countries.
Crypto investment firms in China have turned to lending for a steady revenue stream to get through the bear market, including Bixin Capital, FBG Capital and Dong Zhao’s DGroup.
Each of these firms currently holds about $15 million worth of outstanding loans originated over the last five months.
Although most of these lenders don’t directly deal with Chinese yuan, they see borrowing demand domestically from retail investors, trading desks and cryptocurrency miners.
The head of the largest organized creditor group representing the former users of failed bitcoin exchange Mt. Gox is stepping down amid what he described as a protracted legal quagmire that could take years to resolve completely.
Andy Pag, the founder and coordinator of Mt. Gox Legal, told CoinDesk in an exclusive interview this week that he now believes ongoing legal issues – in particular, a single massive claim by startup incubator and former Mt. Gox partner Coinlab – may hold up the crypto exchange’s civil rehabilitation process for up to two more years.
Pag, who started Mt. Gox Legal roughly 18 months ago with the intent to advocate for the reimbursement of creditors, first revealed his opinion of the expected timeline in a private forum post last week, obtained by CoinDesk, which told creditors he would be stepping down from his role as coordinator at the end of the month.
“Join us on Wednesday 10th April at 19:00 in Kazan, Russia for a Binance meetup!”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
Not so bad today. Yes we had a correction but if you look well, we didn’t really break the support line for a long time and we are even now upper than this line. Let’s see what will be done in the coming hours but a UP break out would be nice to have to confim a bounce from that support line.
It’s another day in the wonderland of cryptocurrency. Unless you are not an active follower, you should be able to observe the newfound market positivity that gives a feel reminiscent of the early days of the previous market cycle.
The optimism in the air is so genuine, ordinary cartel’s manipulation would have a hard time staging it. If this has one message to whisper to you, then “it is to be ready and be vigilant“.
You wouldn’t want to miss the upcoming market uprun especially if you are a type that witnessed the last market boom like me but have little or nothing to show of it. I am not trying to chill anything to you or persuade you into purchasing anything, and of course it not advisable to give-in to another person’s opinion in the cryptoverse particularly if you don’t know their level of expertise.
I consider myself a very raw amateur who has a lot to learn in many aspects, but if there is only one message to direct at your face, I will scream “be ready“. Why would I? Because I can resonate with this same feeling. Not taking my emotions and judgment into consideration, the optimism is kind of real, made even more obvious by many indicators, some typical examples are the volume of trades, news of serious accumulation, and RSI signal of an overbought market.
Again! Be ready and be careful.
Enough of the rant!
Let dive into today’s digest about recent activities and report you should know about.
The Digest
As promised in yesterday’s digest, I mentioned introducing another promising EOS dApp I found interesting today. As an individual who tries to keep to his promise. I bring to you a social network dApp called KARMA.
You must have heard about the law of Karma which states; the good or evil you do will one day come back to you.
This exactly is the mission set out to accomplish by KARMA.
In our world full of inequalities of all kinds. Much of the world are less privileged to have what the top people possess, in terms of food, shelter, finance, and a good standard of living.
Many from parts of the third world countries are in extreme poverty others from well-developed countries can hardly imagine. You would hear of a complete family of four members feeding under $5 for a week, some hardly have anything to eat at all. Approximately 3.1 million children die of starvation each year.
This is an astronomical figure if you imagine counting per head basis, for crying out loud Iceland in an independent country with just over 330,000 people.
There is no swift aid that could quickly eradicate this, except if all countries converge to direct extensive spending to remedy this cause. But, since such a move would have a hard chance of being propagated.
Then, it is at the hand of every able person to do his bit and assist the less privilege found around us.
KARMA EOS dapp is established to encourage people to show some affectionate towards the less privileged around them by rewarding their act of goodness through token incentives through the implemented functional reward mechanism in the form of community votes, donations, and sponsorships. Everyone has some good to show.
Visit https://www.karmaapp.io/ today, download the Andriod or iOS app and start participating in this good cause.
Some information and discussion you should be part of.
Towards the later period of the ICO bust, exchange listing was a popular announcement that could make an investor or trader skip a complete day meal out of FOMO. It was a strategy many found attractive to multiply coins by scalp or swing trading and then jumping onto the next promising coin.
Those who were lucky enough made riches with this method but the majority who were not were burnt badly (I fall in the later category).
Exchange listing apart from its speculative effect is a good way to give a project more exposure or provide better liquidity. Recently, one of the largest exchange “Coinbase” announced the listing of three coins namely: Augur, Maker, and EOS, on its open trading service Coinbase Pro. As a very reputable exchange, this listing is having a somewhat significant impact on the price of these coins over the past 24hrs. Read the reason for this move now on Cointelegraph.
Entry opportunity for the average Joe.
Decentralization by its core definition has no barrier to entry, no censorship, no single point control. These are the attributes many expected any entity entering the sphere should keep to mind, but that is not the case with leading exchanges. Their operating servers are built with centralized design, customers are kept under some restriction, freezing of account without notification and so on. This was the case of Bitfinex – a top cryptocurrency exchange with a huge barrier to entry which minimum requirement to start trading was set to $10,000.
After many persuasion by many traders from different regions, it was reported that the exchange has dissolved the wall to entry and cancel such pre-requisite, paving the way for fleets of traders to join the platform with no minimum required entry fund. Read the in-depth updates on Coindesk.
Get some laughter with this meme as I round-up this digest.
Thanks for your time reading the digest.Remember to visit my blog tomorrow for another interesting digest. Cheers 🙂
Disclaimer
The contents of this post are intended for information purpose only and should never be taken as an investment or trading advice. All information contained herein is linked to their respective sources without being taking word for word except in quotes and references.
This post is to show you which coins I hold the largest percentages of. It will give you an idea of how I have positioned the majority of my crypto funds for the anticipated bull run (which may still be a few months off). I’m writing it because in yesterday’s Shopping Cart post I askedif anyone would like me to share this information, and an overwhelming 100% of respondents answered that they would. My thanks to Luke Phoenix who is the 100% of respondents
Obviously this data is dynamic: I can’t control the rise and fall of one coin’s price against one another. This post is
Boeing is down another 1.6% today with some news about fallen through contracts and deliveries being slashed. This has been a massive leader for the S&P and the Dow in the Mega Bull run and I am on the side BA is done. The “bitcoin like” parabolic rise is unsustainable and I believe the Max Rise stops here.
If BA gives back 360 and the MA there then stick a fork in it and bail. A hell of a run.
Princess Eugenie of the United Kingdom and United States anti-human trafficking Ambassador John Richmond recently spoke in favor of using new technology like phone apps and blockchain to address human trafficking, Reuters reports on April 8.
At a conference in Vienna, Austria hosted by the Organization for Security and Co-operation in Europe (OSCE), experts noted that increased internet usage has expanded the ability of traffickers to exploit potential targets.
However, Princess Eugenie — the granddaughter of Queen Elizabeth — reportedly noted that technology could also help fight trafficking. Eugenie, who founded the Anti-Slavery Collective in Britain in 2017, said:
“I have learned about how blockchain is having a huge impact on supply chain management, and how an app in Britain can help the public report modern slavery at car washes.”
It’s a moment true bitcoin nerds have been waiting for.
In the coming release of Bitcoin Core, the 18th major version of the cryptocurrency’s most widely used software, the code will finally, natively allow users to connect bitcoin full nodes to hardware wallets.
It sounds technical, but it’s a big step for the security for users. Bitcoin full nodes allow users to verify that transactions actually took place, meanwhile, hardware wallets are considered one of the most secure ways to store bitcoin. Thus, making it easier to join the two together is a big win for users who don’t want full control of their bitcoin – and don’t want to lose it.
Facebook is reportedly seeking support from various venture capital (VC) firms to develop its supposed digital token, New York Times (NYT) tech reporter Nathaniel Popper tweeted on April 8.
Citing sources familiar with the matter, Popper states that Facebook is seeking a $1 billion sum to develop its cryptocurrency project. He states that seeking outside investment could keep the project more in line with the crypto community’s decentralized ethos:
“Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook.”
Opera has officially launched the desktop version of its new browser with a built-in cryptocurrency wallet.
The browser, called “Reborn 3,” is now available for the Mac, Windows and Linux operating systems, Opera announced Tuesday. The software allows users to explore and interact with the blockchain-based decentralized applications (dapps) of “Web 3,” and the wallet lets users send transactions without requiring an extension such as Metamask, the browser company said.
To enhance security, Reborn 3’s built-in wallet syncs with that of Opera’s mobile Android browser, which was launched last December, Opera said.
China’s National Development and Reform Commission (NDRC), a state planning agency charged with spearheading macroeconomic policies, has revealed it is considering the elimination of crypto mining in the country. The news was reported by Reuters on April 9.
The NDRC has reportedly now included crypto mining as part of its draft for a revised list of industrial activities the agency intends to curtail. The list — which reportedly runs at over 450 points long — identifies activities the state deems to be in violation of relevant laws and regulations, pose a safety hazard, or are unecological.
It forms part of the NDRC’s wider Catalogue for Guiding Industry Restructuring, which has been issued since 2005 and determines which industries are to be fostered, restricted or eliminated in the country.
“BitTorrent will be listed on BitAsset beginning on April 9th, 3 PM (SGT)”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
Today the STEEM drop and broke during some hours the support line around 0.49$. However, it created a bounce which allowed us to go back upper this support line. So we can consider that the support line did its job and create a bounce. Let’s see now if we will try again to break the line or if we will start to go up and test the TOP.
Like many other coins EOS rose last week spiking through a resistance area only to close above it. Similar to what Ethereum did.
Eth did end up pushing through resistance to close higher. Is EOS about to do the same?
Break on through to the other side
Looking at the chart you can see for roughly the past 48 hours price has been pressing that $5.60 area.
Now if you look left to the price action you will see that resistance line isn’t super clean. A lot of action above and below it, which is why I like to look at “areas” as opposed
