Weekly BulletinHello folks, Hope you've all had a great week. Let's get right into it. Bitmain announces next generation 7nm ASIC chipLast week Bitmain announced its next generation 7nm ASIC chip for SHA256 mining.
A 28.6 percent improvement in efficiency. If you're interested in what I think about this, you can read a previous letter titled Miner centralization is a meme. TL;DR - The whole "China mining centralization" thing isn't the impending doom it's made out to be. I think shifts in economic pressure will inevitably lead to a re-decentralization of mining. And a concentrated mining network doesn't mean that Bitcoin is centralized. Samsung Galaxy S10 will include private crypto key storageAs you've probably heard by now, Samsung's new Galaxy S10 will include some sort of private key storage. Now then, I'm not going to say that this is some government psy-op to steal your private keys. But what I will say is that you probably shouldn't store your private keys on a device that engineered to collect as much of your data as possible. At least not yet. The normalization of bitcoin infrastructure. I like the sound of that. Until then, just think of the bitcoin deflation with all them lost phones. Ethereum Constantinople / St. Petersburg upgradeHere's a link to the announcement.
I'm not gonna lie, I'm not particularly interested in all the technical talk about what this upgrade entails. And most likely, neither are you. What I'm interested in is that Constantinople will reduce the ETH block rewards from 3 to 2, decreasing new ETH supply. Assuming all else remain equal (i.e., the complexity of what they're working on doesn't get any less complex), in the long run, this is decidedly bullish. Coinbase acquired a surveillance companySoooo Coinbase acquired a surveillance company. Huh? Do tell? Whatever do you mean? What's worse then that? Congrats to Coinbase on the acquisition of chain analysis startup Neutrino! FYI, the CEO, Giancarlo Russo, was ex-COO of HackingTeam (en.m.wikipedia.org/wiki/Hacking_T…), who sold "offensive intrusion and surveillance capabilities to governments, law enforcement agencies and corporations."
@brian_armstrong Hacking Team has been listed as an "Enemy of the Internet" by @RSF_inter because they "sell products that are used by authoritarian governments to commit violations of human rights and freedom of information."
This time it's going to be something different tho. Ya know what I mean? Market SentimentTechnicalsBitcoin (Daily Overview)Here's a link to the Market Update post I put out last week. I'll be sending these out to paid subscribers, and making them public the following week. Here's what I wrote. Here's what happened. This drop happened quite suddenly (within an hour). The next major support I'm looking at is the 50 SMA (orange line). Bitcoin (4h Support/Resistance Levels)Look how strange this chart looks. Bitcoin has been ranging WAYY above what are it's normal pivot points. Drop was very much expected. Bitcoin (4h Volume)Bitcoin (Macro Overview)Below are the 3 most common bottom scenarios.
As of Feb 24, 2019 my confidence level are: A bottom between 1,700 and 2,600 = about 70%. Recommended ReadingsPrivacy & BitcoinA deep-drive on privacy. A monster of a read.
You can read it here. The endWhat do you folks think? Continue the discussion in our Telegram group. That's all for now. See you later space Cowboy -Dmitriy You're on the free list for CoinSheet. For the full experience, become a paying subscriber. |