Tuesday, September 18, 2018

📰 CoinSheet - September 18, 2018 📰

September 18, 2018
All that men know is almost nothing in comparison to what remains to be known.
-Rene Descartes

CoinSheet #215

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COIN BULLETIN

CoinSheet has smart readers

It's a unproven fact. But I get a lot of email from you folks, and your comments tend to skew towards the smart side.

It's also a PROVEN fact that I reply to like atleast 90% of questions I get asked.

So please, don't hesitate to email me if you really feel some type of way, or if you think I'm stoopid, or both.

And I will start replying. Maybe we'll get some good content out.

So today...

I'm going to reply to this email from Ivan.

We'll, that's not entirely true, I'm going to reply to that part I highlighted in yellow, and in the following email (or the one after that), I'm going to talk about why I disagree with Ivan's impression of Bitcoin.

I think some of what Ivan wrote is true

When folks at Ripple talk about HSBC or Citi or whatever else, it usually doesn't mean much.

Testing doesn't mean adoption. Even more so when there is a person whose job is it to test stuff.

Place yourself in the shoes of a director of innovation at some bank and imagine being familiar with the current job climate, and turnover rates in the industry.

You're going to have a strong incentive to create bullet points for your resume.

Leading an inquiry into a product (lol, product, yes I know) like Ripple looks good on a resume, primarily because you suddenly become the "blockchain dude."

What makes Bitcoin any different in this case?

Ripple is owned by a company whose only source of revenue is dumping Ripple onto the market (if you're not convinced, read the Q2 2018 XRP Markets Report).

TL;DR

Bitcoin & any company that offers bitcoin related services != (not equal) Ripple & any company that offers to look at Ripple.
ANNOUNCEMENTS
I'm still travelling around EU.

I'll be back in NYC October 1st, and will be in San Francisco the week after that for Blockchain Week.

I'm pretty excited, most people hate conferences but I love all that shit.

This time around I've got:
  • 3 days of ETH SF hackathon
  • 2 days of Epicenter (bootcamps, workshops, panels, tech talks, etc..)
  • 2 days of CESC (Crypto Economics Security Conference) an academic conference on new crypto econ research.
I like that the ticket prices for most of these are fairly reasonable (nothing $1k+ like those Consensys conferences).

Some of these even have student tickets that go for $25 (and if you're a student that can't pay that, shoot me an email and I'll see what I can do).

If you're interested in learning more about the goings on: http://sfblockchainweek.io/
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Nasdaq Acquisition / Jack Ma / Stripe / Whales

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$BTC (1:32 p.m. EST): $6,351.74 (0.78%) // 90-day high: $8,245.16 // 90-day low: $5,889.64/ / More

$BCH (1:33 p.m. EST): $435.75 (2.79%) // 90-day high: $872.84// 90-day low: $420.58 // More

$ETH (1:33 p.m. EST): $210.63 (2.07%) // 90-day high: $531.53 // 90-day low: $171.58 // More

$LTC (1:34 p.m. EST): $53.96 (0.53%) // 90-day high: $107.31 // 90-day low: $49.35 // More

$XRP (1:34 p.m. EST): $0.31 (16.16%) // 90-day high: $0.57 // 90-day low: $0.22 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Nasdaq has offered $190 million to acquire Cinnober, a Swedish financial technology provider. Cinnober has worked with BitGo to create an enterprise-grade bitcoin wallet. BitGo announced last week that it had won regulatory approval as a regulated, qualified custodian of cryptocurrencies. It is believed Nasdaq will use Cinnober's technology to expand cryptocurrency to more institutional investors. –DAILY HODL

Nasdaq makes offer to acquire fintech company CInnober
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2. Alibaba Founder Jack Ma believes blockchain tech will be meaningless unless it helps transform the manufacturing industry and protect the environment. In a speech at the World Artificial Intelligence Conference in China, Ma added that the current information age has the opportunity to make dramatic changes. He did stop short, though, of revealing how Alibaba would use blockchain to accomplish these goals. Alibaba, combined with IBM, hold about 90 percent of all distributed ledger technology-patents worldwide. –COIN TELEGRAPH

Ma thinks blockchain must be used to help environment
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3. Stripe President John Collison said that while his company no longer processes bitcoin payments it still sees a future with cryptocurrency. At a recent event, Collison said the company stopped processing bitcoin payments because of both the time they took and bitcoin's unpredictable price fluctuations. However, Collison said the company is open to processing payments in other types of crypto, including in other countries where payment infrastructures are not as well established. –RECODE

Stripe stills sees a future with cryptocurrency despite no longer using bitcoin
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4. 1 percent of bitcoin wallets hold 55 percent of bitcoin, a total worth more than about $100 billion. These wallets primarily just hold the bitcoin. A majority of them did not sell during bitcoin's peak at the end of 2017, and a third of these large accounts have never been used for an outgoing transaction. Diar, the research firm reporting these numbers, believes that at least some of these accounts are accidentally locked due to owners losing private keys. –THE NEXT WEB

Bitcoin whales continue dominance of bitcoin market
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5. Bitfinex has launched a hybrid ethereum-based exchange named, easily enough, Ethfinex. –BITCOINIST

6. Bitmain has too many assets tied in cryptocurrency when it should be in cash. –THE WASHINGTON POST

7. Bitcoin's price outlook continues to get worse. –COINDESK

8. North Queensland in Australia has become an unlikely hub for bitcoin cash. –BITCOIN.COM

9. An analyst tries to make sense of China's blockchain strategy. –FORBES

10. Palestinians have begun using bitcoin more to send funds across borders. –COINDESK

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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