Wednesday, November 28, 2018

📌 Getting Through Bear Markets, ETF Doubts, and Snowden Explains Blockchain

 MUST READS 

🔥 Fred's on Fire: Getting Through Bear Markets


After last weeks market wide tumble, you might be wondering whether it is finally time to close out your positions?... Buy the dip?... Sit on your hands?

Well, it all depends on your fundamental views on these various investments. Here's Fred Wilson (arguably the most insightful voice in all of tech investing) to help with these decisions.

Don't miss what he's got to say on Ethereum (ETH).

For more quality, long-term crypto investment reassurance, Fred wrote an essay this week lending some perspective from the position of investing in internet stocks between 1999-2002.

If you've had any kind of investment in crypto – whether financial or time and energy related — take a few minutes and give these short articles a read.
 

Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices


Nasdaq Inc. is moving ahead with a plan to list Bitcoin futures, betting on sustained interest despite the cryptocurrency's dramatic plunge over the past year.

The world's largest exchange company plans for launch by Q1 of 2019 even as the current crypto futures market remains tiny.

Is this good news overall? Yes. But is this a big deal? Not at the moment.

"(The futures market) has to become a more mainstream asset class, as opposed to the rather fringe part of the financial markets that it is today."

 SPONSORED 

Meet the Man Behind the Largest Marijuana IPO Ever


History has been made.

The National Institute for Cannabis Investors launched with former Speaker of the House, John Boehner and some of the biggest CEOs, investors, and pioneers of America's $10.8 billion cannabis industry.

Nothing like this has ever been done before.

And the response has been so big that we have decided to air a special rebroadcast right now. Click here...

This event is a must-see.

Because as Speaker Boehner said, "This is an unstoppable economic revolution. And it's just getting started."

But you have to hurry.

This rebroadcast won't be available for long.

Click here to watch a limited time rebroadcast of this historic event.

 

 DEEP DIVE 

Tokenization of Real Estate [Proceed with Caution]


Though the tokenization of real estate offers a compelling vision, there are complexities beneath the surface.

Here's a solid overview of the pros and cons of applying the blockchain to real estate...
 

🎙️ [PODCAST] Interview with SEC Commissioner Hester Peirce


Here's a great listen worth passing along. What Bitcoin Did sat down with our favorite SEC Commissioner, Hester Peirce to discuss the role of the SEC, how decisions are made, and why Hester dissented.

"Just because you are calling something crypto does not mean you can ignore the rules we have had in place for years, but I do think we also need to be willing to open the doors a little bit wider for innovation." — Hester Peirce

 REGULATORY FRONT 

This ETF is in Trouble 😅


Cryptocurrency enthusiasts have been eagerly awaiting the approval of what would be the first-ever bitcoin exchange-traded fund, or ETF.

But the man largely behind green-lighting one — Securities and Exchange Commission Chairman Jay Clayton — has a few worries that need to be assuaged before he's "comfortable" approving the investment vehicle.

Below are some of the concerns he expressed during his closely watched appearance at Consensus: Invest 2018 this week:
  • Lack of market surveillance
    "What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation"

     
  • Improved safety in storing crypto assets
    "We've seen some thefts around digital assets that make you scratch your head... we care that the assets underlying that ETF have good custody, and that they're not going to disappear."

     
  • 'Assume' your ICO is a security
    Chances are your ICO is subject to SEC laws, so "start with the assumption that you're starting with a securities offering"

For an insightful breakdown of everything said, here's the roundtable discussion you'd want to watch. 📺
 

Pay Taxes With Bitcoin? Ohio Says Sure


Ohio is set to become the first state to accept Bitcoin for tax bills – a long awaited show of support for a technology that has garnered lots of hype but failed to gain traction as a form of payment. [paywall]

Beginning this week, Ohio businesses will be able to go to the website OhioCrypto.com and register to pay everything from cigarette sales taxes to employee withholding taxes with Bitcoin. Eventually, the initiative will expand to individual filers.

 

 TWEET OF THE WEEK 

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Bitcoin bounces back above $4,000 / Blockchain-based media co. flounders / Iranians linked to bitcoin ransomware scam

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$BTC (12:45 p.m. EST): $4,243.51 (+13.16%) // 90-day high: $7,382.19 // 90-day low: $3,604.14 / / More

$BCH ABC (12:45 p.m. EST): $190.84  (+8.95%) // 90-day high: $703.41// 90-day low: $157.32 // More

$ETH (12:45 p.m. EST): $119.72 (+12.14%) // 90-day high: $365.71 // 90-day low: $98.42 // More

$LTC (12:45 p.m. EST): $35.04 (+16.98%) // 90-day high: $74.80 // 90-day low: $27.23 // More

$XRP (12:45 p.m. EST): $0.3894 (+11.63%) // 90-day high: $0.61 // 90-day low: $0.26 // More

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

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1. The price of bitcoin bounced back above $4,000 in overnight trading, regaining 13 percent of its value and counting. Fears proliferated earlier in the week that bitcoin would finish the month of November down from the previous month, marking a four-month downward trend that had not occurred since late 2014. The rally now has cryptocurrency trader Crypto Rand calling this a "daily bullish hammer in play" that could signal a full reversal. As of this writing, the price is over $4,200, and it's spurred rallies for other cryptocurrencies as well. – CCN

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2. Plans to roll out over a thousand bitcoin ATMs in Argentina over the next year appear to be on hold indefinitely. US-based Odyssey Group's earlier announced ambitious plan to put 150 crypto ATMs in Buenos Aires by year-end this year, and up to 1,600 in Argentina by the end of 2019, don't appear to be moving forward. Bitcoin has been proposed as a solution for Argentina's ongoing inflation woes. As of now, though, there are only three bitcoin ATMs in the country, and Odyssey has installed none. – THE NEXT WEB

Bitcoin ATMs in Argentina appear delayed
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3. Employees at Civil Media Company, which promised to reinvent journalism by creating 1,000 cryptocurrency-based media outlets, are saying they are still waiting to be paid. Following a fair amount of hype both internally and externally about the potential value of CVL tokens, which were intended to form a portion of staff journalists' compensation, the initial token offering in October had to be canceled due to lack of interest. (The New York Times discussed Civil's perhaps misguided blockchain-based model earlier this month.) One employee who has left Civil tells Coindesk that he was out about 70 percent of his salary over five months and was still waitng to see the money. – COINDESK

This item also appeared on Inside Media, which you can subscribe to here.

Crypto-based media company flounders
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4. Two Iranian nationals have been publicly identified and sanctioned by the US Treasury Department's Office of Foreign Assets Control (OFAC) for their role in a bitcoin ransomware scam. In a first for the OFAC's Specially Designated Nationals list, the bitcoin addresses of the two men — Ali Khorashadizadeh and Mohammad Ghorbaniyan — have been listed alongside other identifying information like their physical addresses. The men have been linked to the SamSam ransomware plot, which has hit more than 200 victims, and the men are believed to have facilitated bitcoin transactions for the malware's creators. – COINDESK

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5. What should we credit the bitcoin rally to? There were a flurry of positive developments this week including Tuesday's announcement of bitcoin futures coming to the Nasdaq. – CRYPTOGLOBE

6. Before the SEC will consider approving its first bitcoin exchange-traded fund (ETF), SEC chair Jay Clayton says the issue of market manipulation has to be addressed. – BITCOIN NEWS

7. Goldman Sachs and Morgan Stanley have just become the first major investment firms to employ CLSnet, the two-year-old blockchain-based payment netting service by IBM and CLS. – COINDESK

8. Coinsource, the crypto ATM network, is expanding into upstate New York. – BITCOIN NEWS

9. Wallet provider and major American crypto exchange Coinbase has just launched an "over-the-counter" (OTC) trading desk for institutional investors. – CHEDDAR

10. Crypto makes a cameo in the new animated movie "Ralph Breaks the Internet" via a logo for the SAFE network. – CCN

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Written and curated by Jay Barmann, who also edits Inside Social and Inside Beer, and spent three and a half years as Editor in Chief of SFist.com, the San Francisco branch of Gothamist. As a freelance writer he has also written for SF Weekly, 7x7, Curbed SF, Eater SF, New York Magazine, and San Francisco Magazine, among others, and in his spare time he edits the blog OpeningNightSF. Follow him on Instagram at @conflator or Twitter at @jaybarmann.

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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