Wednesday, May 1, 2019

📌 E*Trade to Launch BTC Trading, RIP BreakerMag, and Nike CryptoKicks?

 MUST READS 

US Stock Broker E*Trade to Launch Bitcoin and Ether Trading: Report


Good news this week, folks.
  • First, we'll start off with some E*Trade Financial rumblings (who, by the way, has a ~5M retail base). According to Nathaniel Popper of NYTimes, E*Trade is preparing to launch Bitcoin and Ether trading sometime soon.
  • Let's not forget that TDAmeritrade (via ErisX crypto exchange) will soon be offering the same thing to their ~11M retail base as early as sometime later this year if they don't hit any regulatory roadblocks.
But it get's better... Simply put, all three of these developments remain significantly BULLISH... and no one should be losing hope on them. Not yet, at least.
 

Bitfinex Sued by New York


Now the bad news... Long story short, the ugly saga of Bitfinex continues to spiral downhill. As for Tether, this FUD is nothing new.

Both entities are floating, barely, in the middle of some very murky regulatory waters. Now what does all of this mean?

Since Tether accounts for a lot of trading volume... and since most coins have their market cap derived from USDT (as opposed to USD)... It's safe to say there's still some hefty systematic risk the crypto space must overcome.

Here are some great twitter threads (@krugermacro, @CaitlinLong_, and @AriDavidPaul) breaking down the story, way better than we ever could.
 

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 DEEP DIVE 

RIP BreakerMag


BreakerMag - known for their in-depth crypto stories and one our favorite deep dive sources - will be shutting down. Props to the BreakerMag team for keeping things intriguing! We'll certainly miss you.

This crypto slump has been rough for everyone, including us here at CoinSnacks, so we just want to take a second to thank all of you, the readers, who open up our email every week and help us by supporting our sponsors. We luv you.
 

Narrative Watch | Spring 2019 Edition


The one and only Nathaniel Whittemore just published his latest Narrative Watch edition, highlighting:
  1. The Return of Token Sales
  2. Ethereum Competition
  3. Governance
  4. Fair Launches vs. Dev Incentives
  5. Fund Consolidation

Bitcoin is a Demographic Mega-Trend: Data Analysis


Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly, according to new research.
 

Value Capture & Quantification: Cryptocapital vs. Cryptocommodities


What follows is a description of the two main buckets of cryptoassets we are seeing today (capital and commodities), which then feeds into a discussion of the differences we can expect in the value capture and valuation models between the two.

This is both a revision and expansion of Cryptoasset Valuations. 🔥
 

1Q19 Crypto Retrospective


Lots of data this week, as well.

Circle Research just published a comprehensive report on all key developments so far for 2019. Click here to download the report, or feel free to read some key takeaways presented here.
 

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 REGULATORY FRONT 

🇨🇳 China to Place 5 Yuan Banknotes on the Blockchain


In an effort to stem counterfeiting and prolong the circulation life of the renminbi, China's Central Bank may begin issuing the 5-yuan note on the blockchain. Their stated goal? To study the application of blockchain technology in order to stop counterfeiting and money laundering.
 

 TWEET OF THE WEEK 

Other Articles You May Enjoy

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$BTC (11:50 a.m. EST): $5,373.25 (0.67%) // 90-day high: $5,642.04 // 90-day low: $3,391.02 / / More

$BCH ABC (11:50 a.m. EST): $268.90 (5.05%) // 90-day high: $342.87// 90-day low: $111.84 // More

$ETH (11:51 a.m. EST): $160.98 (1.00%) // 90-day high: $184.38 // 90-day low: $102.93 // More

$LTC (11:51 a.m. EST): $73.43 (0.93%) // 90-day high: $97.50 // 90-day low: $31.13 // More

$XRP (11:51 a.m. EST): $0.30 (-0.60%) // 90-day high: $0.37 // 90-day low: $0.28 // More

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1. Amazon Web Services made its Amazon Managed Blockchain (AMB) service available to the public. The company's blockchain-as-a-service tools aim to allow businesses to develop their own networks quickly and at a lower cost. Two open source networks that are are available on AMB for developers to build upon are Ethereum and Hyperledger. AT&T, Accenture, and Nestle are major companies that are currently utilizing the use of AMB to build in-house networks. -THE NEXT WEB

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2. The Information Technology and Innovation Foundation released guidelines for policymakers on how to manage blockchain technology. The ITIF is an independent nonprofit that provides policymakers with information and recommendations on how to handle and integrate new technology. The ITIF predicts that the blockchain will integrate with major applications and create new applications including cryptocurrencies, shared data services, smart contracts, decentralized marketplaces, authenticity tracking, and digital identity applications. The ITIF has encouraged governments to support legitimate blockchain innovation and to create and implement clear blockchain guidelines and regulations. -COIN TELEGRAPH

ITIF released blockchain recommendations
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A MESSAGE FROM MELISSA

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3. The U.S. Department of Justice has charged two individuals with running a shadow banking service for cryptocurrency exchanges. Reginald Fowler and Ravid Yosef opened bank accounts at multiple U.S. based banking institutions and processed hundreds of millions of dollars of unregulated transactions on behalf of multiple cryptocurrency exchanges. The two skirted anti-money laundering and know-your-customer regulations that are supposed to ensure the banking system is not used for criminal purposes. -BLOOMBERG

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4. On-chain transactions for bitcoin has now risen for three straight months, hitting highs not seen since April 2017. More than $139 billion worth of bitcoin moved on-chain last month, a total similar to June 2018 when the price of bitcoin was near $7,000, about 35% higher than today. -DIAR

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A MESSAGE FROM ASANA

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5. The Food and Drug Administration is considering implementing blockchain technology internally and industry-wide to track food and supply chains. -COMPUTER WORLD 

6. Ethereum co-founder Charles Hoskinson launched an enterprise blockchain framework with the Ethiopian Government. -FORBES

7. Wirex to partner with Stellar and launch 26 fiat-backed stablecoins to be used with Wirex debit cards. -BRAVE NEW COIN

8. Editional launched as an iPhone app to allow anyone to create non-fungible tokens and digital collectibles to prove digital ownership. -DAILY HODL

9. Nayuta launched a lightning network product to connect the Internet of Things to the bitcoin main net. -COIN DESK

10. Jargon Watch: Halving: Halving is a programmed reduction in the block reward given to cryptocurrency miners once a certain number of blocks have been mined. The bitcoin block mining reward halves every 210,000 blocks and the reward will decrease from 12.5 bitcoin to 6.25 bitcoin on May 23, 2020, meaning this term will be used more and more in the coming months. Many speculate that the price of bitcoin will increase after the halving, as the supply of bitcoin will decrease and supposed demand will increase. During the last halving in July 2016, the price of bitcoin did not skyrocket because the halving was anticipated and many speculate that the projected price increase was already priced in. Satoshi Nakamoto created halving as a way to battle inflation.

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Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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