 QUOTE OF THE DAY  |
| "Diversification is most needed when its least wanted." - Robert Arnott |
Happy Saturday! Well, we are halfway 2018. Cheers to continued progress and making the second half of 2018 special. Have a great weekend Brew Crew!
Cheers,
Blockchain Brew Team
| COIN | PRICE | 24H |
|
| BTC | $6,410.60 | +8.79% |
|
| ETH | $456.646 | +11.05% |
|
| XRP | $0.470349 | +9.12% |
|
| BCH | $753.106 | +14.26% |
|
| EOS | $8.13898 | +11.9% |
|
*Information as of 9:30 AM EST
Over 1,000 Cryptocurrencies are “Dead Projects”
CRYPTO GRAVEYARD
- According to research done by Coinopsy and Dead Coins, it is estimated that there are 1,000 cryptocurrency projects that have been abandoned
- These 1,000 projects total to billions of dollars raised of BTC and ETH
- This proves how investors were caught in the Blockchain craze, investing in coins that have no real use case or development effort backing them
- These type of projects are the reason a lot of critics call cryptocurrencies a bubble and why federal agencies have stepped in to protect delusional investors from investing in projects that are destined to die
Aaron Brown, a writer for Bloomberg commented:
“There has obviously been significant fraud and hype in the ICO market. I have seen 80 percent of ICOs were frauds, and 10 percent lacked substance and failed shortly after raising money. Most of the remaining 10 percent will probably fail as well.”
IS THIS BAD?
- Yes, investors have lost millions investing in projects that end up worth nothing, but projects going to zero may not necessarily be a bad sign for the entire space
- While people complain about coins with no real use case or trying to solve all problems with blockchains, this behavior is common among new disruptive technologies
- It is impossible to tell with certainty all of the use cases where Blockchain can be implemented without trying, therefore it is at least worth the effort to develop Blockchain for all use cases and see where it actually works
- That being said, there are still projects out there with the sole purpose to scam investors, it is important that investors do due diligence on projects that they are investing in
Chief Economist Says Bitcoin is a Buy at $5,000
$5K TARGET
- As Bitcoin swung below $6,000 on Friday, Chief Economic Advisor at financial services company Allianz, Mohamed El-Erian, appeared on CNBC sharing that he will consider buying Bitcoin if it price gets down to $5,000
- El-Erian believes that Bitcoin will be one day used as a store of value, seeing the cryptocurrency as more of a commodity than a currency
He also went on to call the December price surge as “pure speculation” and said he doesn’t expect it to get back to that level anytime soon:
"I don't think you get all the way back to $20,000, but I do think that you need to establish a base whereby the people who really believe in the future of Bitcoin consolidate and then that provides you a lift."
El-Erian gave his opinion that if cryptocurrencies are to last, they will need to make some changes saying:
"I suspect that if you look 10 to 15 years down the road, we will have digital currencies, but the public sector will have involvement in that. It will not be pure Bitcoin. But the blockchain technology, take that seriously."
- He also warned that there is too much hype surrounding the space and that adoption will happen much slower than people are currently expecting
Huobi Signs Cooperation Agreement with JD Cloud to Develop Blockchain and Cloud Computing
PARTNERSHIP
- According to a press release, Huobi, the world's fourth largest crypto exchange by volume, has signed a cooperation agreement with JD Cloud
- JD Cloud is a subsidiary of China's massive online retailer JD Group and focuses on cloud computing applications
- Through this partnership, JD Cloud wishes to explore blockchain's benefits within the cloud computing industry
BLOCKCHAIN CONSULTING
- As companies make the move to blockchain, they are spending large amounts of funds to research and implement correctly
- This leaves blockchain-focused companies like Huobi in a valuable position as their knowledge and experience in blockchain is impressive
- Huobi has recently taken advantage of this blockchain consulting role with numerous partnerships just this year
- Most recently, Huobi partnered with Korea University to bring blockchain education to the academic world
PwC Report Confirms ICO Volume Reached Record Highs in First Half of 2018
ICO RECORD HIGHS
- In a new joint report released by PwC and Crypto Valley, it was confirmed that in the first half of 2018 ICOs reached record highs despite the market decline
- The ability to raise capital for entrepreneurs has never been easier and it is apparent that many are taking advantage of this opportunity
According to the report, in half of 2018 so far we have already doubled ICO volume from 2017:
"In total, 537 ICOs with a total volume of more than $13.7 billion have been registered since the beginning of the year. In comparison, in 2017 there were a total of 552 ICOs with a volume of just over $7.0 billion. Also, the average size of an ICO has almost doubled from $12.8 million to over $25.5 million since last year."
REGULATION PROGRESS
- In addition to the record-breaking ICO numbers, the report also cited the U.S., Singapore, and Switzerland as the most important ICO hubs worldwide
- These countries were chosen due to progress in regulation and availability of resources
The report also highlighted the interesting differences in ICO regulation in different countries:
"The US uses a centralized system in which all tokens offered by ICO are traded as securities. In Europe, on the other hand, a differentiated regulation prevails. FINMA, for example, classifies tokens into three sub-types: asset, payment and utility tokens, which do not constitute an actual investment but allow the buyer direct access to the product or service of the ICO. Finally, in Asia, regulation is very heterogeneous, ranging from strict prohibition to active promotion of ICO projects."
- $300 Million Dollars Sent in Bitcoin for Just $0.04 USD
- SharesPost Research: 15X Potential Growth in Valuation of Cryptocurrencies and Blockchain Startups Over Next 10 Years
- Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely
Ethereum Classic (ETC)
PoC of new StateDB layer & Emerald Mobile Wallet
ICON (ICX)
ICX/ETH Decentralized exchange
VeChain (VEN)
VeChain launching their mainnet. VeChain holders will also generate THOR as part of staking rewards every day after this release.
OmiseGO (OMG)
"Honte (OmiseGO network preparation for Plasma) is currently on course to be delivered in Q1 to Q2 of 2018"
Lisk (LSK)
Lisk is going to launch Custom tokens & dApp registration.
Verge (XVG)
Verge social network will be launched in Q2 2018 .
Stratis (STRAT)
Full Node GUI Mainnet Beta release built on feedback from Alpha release on December.
DigiByte (DGB)
Artis Turba exchange releases in June, partnered with and listing DGB.
Stratis (STRAT)
The Breeze Wallet with Privacy Protocol has progressed through various internal test phases that focused on further testing of the protocol.
Stratis (STRAT)
"Courses continue to be developed for the Stratis Academy and will be released during this [Q1 & Q2] period."
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| Nebulas (NAS) |
| Nebulas is a next generation public blockchain, aiming for a continuously improving ecosystem. Based on its blockchain valuation mechanism, Nebulas proposes future-oriented incentive and consensus systems, and the ability to self-evolve without forking. |
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