CoinSheet #238 Whether you think that you can, or that you can't, you are usually right. — Henry Ford (1863-1947) Weekly Bulletin Kunyi, myself, and another person are somewhere in the middle of Texas, in a small cabin, with about half-a-bar of service. We're on an indefinite road trip across the country, spending 4+ hours in a car each day. Weekly Bulletin (Jan 13, 2019) CoinSheet #238 Jan 13 Public post Whether you think that you can, or that you can't, you are usually right. — Henry Ford (1863-1947) Weekly Bulletin Kunyi, myself, and another person are somewhere in the middle of Texas, in a small cabin, with about half-a-bar of service. We're on an indefinite road trip across the country, spending 4+ hours in a car each day. Apologies for any late delays in emails/responses. We'll get acclimated quite soon and start writing more. If you're interested in what we're doing, we'll send something out next week. ETC gets 51% attacked Ethereum classic has decent daily volume, and has a relatively low cost to perform an attack. The attack was inevitable. (You can check approximately how much it costs to 51% attack a coin here) Coinbase@coinbaseOn 1/5/2019, Coinbase detected a deep chain reorganization of the Ethereum Classic blockchain that included a double spend. In order to protect customer funds, we immediately paused movements of these funds on the ETC blockchain. Read more here: https://t.co/vCx89dz44m January 7 2019 1276 Retweets2549 Likes (Here's a link to the Coinbase article about Ethereum Classic) Coinbase says they have identified a total of 15 reorganizations, 12 of which contained double spends, totaling 219,500 ETC (~$1.1M). They also wrote that no Coinbase accounts have been impacted by the attack (Coinbase identified the double spend attacks, but they had not been the target so all customer funds are unaffected). You might be thinking, how can Ethereum Classic be worth anything at this time? Post attack Ethereum Classic has seen very little price movement. What's up with that? Preston Byrne@prestonjbyrneHow is Ethereum Classic still worth anything right now January 7 2019 64 Retweets746 Likes nic carter@nic__carter@prestonjbyrne could ask the same of BTG, Monacoin, Verge, BTCP. All 51% attacked or suffering from a serious vulnerability. the truth is that a lot of these assets have dogmatic diehard communities that refuse to submit, and most tokens are held by them anyway. January 8 2019 8 Retweets71 Likes TL;DR - Shitcoins gonna be shitcoins Misc news from last week Brave surpasses 5.5 million monthly active users Thailand's SEC approves four new crypto exchanges Bitwise Asset Management files with SEC for new Bitcoin ETF Market Sentiment Technicals Bitcoin (Daily Overview) I'm still expecting price to range (between S2 and R2, see support levels below) until we learn more about what's going on with the Bakkt futures launch. Bitcoin (4h Volume) Seeing some bullish divergence on the CMF and OBV. Bitcoin (4h Support/Resistance Levels) Resistance 2: ~4,380 Resistance 1: ~4,200 Pivot point: ~3,920 Support 1: ~3,750 Support 2: ~3,450 (I'll post the new weekly levels for next week in the Telegram chat tomorrow) Bitcoin (Macro Overview) Below are the 3 most common bottom scenarios. Option 1: Fractals analysis bottom (2,300 - 2,600) Option 2: Fib extension bottom (1,700 - 1,900) Option 3: Retest support of 2017 rally bottom (900 - 1,200) As of Jan 13, 2019 my confidence level for a bottom between 1,700 and 2,600 is about 80%. I think there is about a 15% chance that we've already bottomed. And a 5% chance we'll retest 900-1,200. Recommended Readings The real Bitcoin FUD Bitcoiners are asking critical questions about Bitcoin's security model. And along those lines, the best way to engage in fud with Bitcoiners is to focus on how the changing landscape of Bitcoin will shape its incentive structures and security model in the future. After all, the best new fud will involve how bitcoin's network adapts to its inevitable monetization. Although it may seem like Bitcoiners are a monolith of sound money propaganda, there is a lot you can learn through this community. In the end, serious Bitcoiners are willing to discuss their concerns and the importance of those concerns in pushing Bitcoin to the next level; you'd just have to look away on purpose not to see that. Check it out the full article here. The end If you think something important happened last week and we missed it, let us know! Continue the discussion in our Telegram group. That's all for now. See you later space Cowboy You're on the free list for CoinSheet. For the full experience, become a paying subscriber. Subscribe © 2019 CoinSheet LLC Unsubscribe 427 N Tatnall St #84981 Wilmington, DE 19801 A Substack newsletter