Alt-News #10: Eth Foundation strike deal with Russian Development Bank & Russian Stock exchange embraces cryptocurrencies / OmiseGo confirm collab with McD Thai / New alt-coin recommendation and overview
The Ethereum Foundation struck a deal with the Russian Development Bank Vnescheconombank (VEB) for a long-term and effective partnership in the implementation of projects using blockchain technology of the Ethereum platform. One of the main tasks is to become better informed in the technology and to start training people to develop more with it.
This is one of the first deals where the main consumers of its services are domestic state-owned companies and government bodies which makes Russia an really important player in the adoption of blockchain technology.
There has been some controversy about the history of the bank VEB but all in all I think this will only be one of many that are stepping foot into the technology and looking to further develop and use it in many different aspects.
At the same time the Moscow Stock Exchange is currently preparing to trade cryptocurrencies starting with Bitcoin and I doubt it will take long until Ethereum gets added as well from recent partnerships and the well known meeting of Ethereum co-founder Vitalik Buterin and Russian President Vladimir Putin.
The stock exchange is currently working on creating the infrastructure to enable the trades but will also be adding dervatives and exchange-traded funds (ETF's). This is a great announcement for the adoption of cryptocurrencies as a whole and a good first step after Russia wanting to regulate Bitcoin as a financial asset.
For those who don't know much about this particular exchange, it is one of the biggest exchange groups in Russia. It operates trading markets in equities, bonds, derivates, foreign exchange markets, money markets and precious metals. Adding cryptocurrency to it will be a giant step in adoption and will enable a lot of bigger hands to get in on them.
OmiseGo continues to adopt real world use and recently confirmed a new relationship with the CEO of McDonalds of Thailand for collaboration. What exactly this entails is still unclear but the markets seem to already have started moving on this piece of news alone.
A couple weeks ago Vitalik Buterin also went and met with the Central Bank of Thailand to discuss the future of the Thai economy and its adoption of OmiseGo. For those who don't know much about this currency, its a network connected to the Ethereum mainnet allowing anyone to conduct financial transactions such as payments, remittances, payroll deposits, B2B commerce, supply-chain finance, asset management and trading services in a completely decentralized and inexpensive way.
They want to use OmiseGo to further enhance the country's existing banking systems and financial platforms.
For those that have been following my altcoin recommendations lately and are eagerly awaiting for more - I wanted to add these at the end of these posts so I don't flood your Feeds with too many posts. I also wanted to add one coin which I think is a sleeper and waiting to increase in value short/medium-term.
Keep in mind though that there is always the risk of investing in alt-coins that you might miss out on Bitcoin pumps, especially with the way adoption is growing lately and Bitcoins limited supply - one can never know how quick it might move up in the near future. But for those who know me know that I rather risk not holding anything in Bitcoin at all cause I see altcoins and always have as bigger potential gains. This image here represents my train of thought pretty well.
Here is first a list that I will add to each post and update how its been doing since I first recommended that currency.
| Coin recommended | Date | Price then | Price now | Change |
|---|---|---|---|---|
| StorJ | 21st July | $0,52 | $0,94 | +80.8% |
| IOTA | 21st July | $0,26 | $0,89 | +242.3% |
| NEO | 24th July | $8,50 | $33,50 | +294.1% |
| TenX | 24th July | $0,90 | $4,24 | +371.1% |
| Sia | 24th June | $0,019 | $0,0082 | -128.9% |
| Asch | 14th August | $0,80 | $0,80 | +0% |
| Ark | 14th August | $1,20 | $2,43 | +102.5% |
| Steem | 14th August | $1,17 | 1,51 | +32.5% |
| district0x | 16th August | $0,13 | $0,12 | -7.6% |
| Aragon | 16th August | $2,45 | $3,01 | +22.85% |
| Ethereum | 20th August | $291 | $389 | +30.58% |
| Monero | 20th August | $52 | $138 | +165.4% |
For todays recommendation I want you all to take a look at Factom
This has been a coin going strong for a long time and hasn't seen all that much movement in the recent surges. Here is its chart for the past year.
Its last all time high has been at $35-36 and if the volume picks up again like it did in June I can see it going above $50-60.
Disclaimer
Never invest more than you can afford to lose. Before investing make sure to re-search the currencies yourself and not follow advice blindly.
Having said that, I am not getting paid by these currencies to advertise their names and won't be going too much into detail about them as to not try and sway you into placing in a big amount of value. Also remember that this is usually not a short-term trade and past performances or advice does not mean it will turn out the same way in the future. If I am ever doing a promotion post for these I will make it clear that it is promoted content.
The head scratcher for many governments today is probably wether to ban or adopt cryptocurrency? I think Russia is putting itself in an awesome position right now to create a bright financial future. They already figured out; " If you can't beat them- join them" Soon Facebookers and Redditers will get the same message and join Steemit - Up we go !
But this is the only way currently. Countries will join them, otherwise they will lose a lot of money. Japan is a big player here.
I think you are right ! It seems like Asia in general are early to jump on the train, I read Vietnam is legalizing bitcoin soon as well !
yeah that may happen very soon :D cryptocurrencies are now at almost an unbeatable heights... as we all are a part of it and the numbers are continuously growing....
IT Sure is wonderful to be a part of, lets enjoy the ride :)
yeah..!!!
Sometimes I wonder if it really is a good thing for governments to get involved in crypto at all.
It worries me that what they will do is control people even more, by releasing their own centrally controlled cryptocurrency.
It would be more effective in tracking people than credit cards, as credit card companies don't automatically send tha tinfo to the government. I honestly would prefer government stay out of Bitcoin, but what can Ido to stop that, nothing.
On the other hand, it makes sense for governments to switch to cryptocurrency, as we can see what they do publically on the blockchain. We can hold them accountable if all politicians were paid in crypto for example. We could see their shady anonymous donations and stuff like that.
The overall main problem would be is a government centralized a crypto, had control over it, and had the aility to blacklist people and ban them from using it. They could use that to control people. we must never let that happen.
It is currently not possible to centralise Bitcoin for example. They would need a lot of hashing power to have control over the network. So I don´t think this will happen in the near future. There is a high chance that countries will create fiat style cryptocurrencies, but no one will use them. I am always asking myself what would be the benefit for the normal joe ?
But technically Bitcoin is controlled by 3 big mining companies...
When blockchain equals AI then centralization will equal a singularity of that AI and the total control that follows will be the darkest age ever, but during that dark age humans will be ruled by AI and only when the technology is completely destroyed will humanity regain it's freedom. But that also why we must fight to be smarter than a centralized AI. At least with Steemit we will be able to understand them because they will have to talk to us in order to gain any power over the currency.
The cat is already out of the box. There are so many cryptocurrencies now, some of them fully anonymous like Monero.
The russian government is sure trying get influence in Bitcoin. They're planning on building a huge mining plant to compete with Chinese miners. Mining is currently mostly done in China.
The Russian central bank has also been speaking about introducing a centrally led coin - the cryptorubble, but I'm sure many Russians are sceptical enough to not jump on that.
That is a very good point indeed ! I have heard from a very famous insightful investor ( Doug Casey) that America is planning on creating a "Fed Coin", and like you say it will allow the government to track out every move and thus cryptos function will be the reversed of its original intention
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Moi @acidyo. Ootko suomalainen, vai asutko vaan suomessa? Hi, are you a Finn or just living in Finland? Mitäs mieltä oot Viron suunnitelmista luoda se oma estcoin? What are your thoughts about Estonia to create their own crypto currency, estcoin?
Hey, I'm a Finn yes. I haven't actually looked into that one. Sounds interesting, though and hopefully the first of many to come!
Alright! Nice to meet a fellow Finn here, I guess not so many around. Although no need either, I've been living here in Vietnam for more than 3 years now. Just found steemit 3weeks ago and it seems pretty awesome!
Some solid recommendations in those picks. You should be putting LSK on that list as well.
On the other hand you could've also randomly picked 100 different coins and about 75 of them would have been up in that time. Just trying to play devils advocate. and you wouldnt be up 1200% if you invested equally in those coins, you'd be up over 100% though, still not too bad
lol that's true, my math is not the best this early in the morning. I'll edit that, thanks.
Yeah, I didn't see the lisk pump coming to be honest, I try and recommend coins I know and feel more safe with than just taking random ones.
Haha no problem, I had to get the calculator out just to be sure. It's really hard to know what coins will make it long term because a lot of the ICOs have raised so much capital and just offer promises in the future. Will be an interesting next few years to see which coins separate themselves from the pack
An interesting development with Russia then. Given how Cryptocurrencies seem moving in the developing Asian economies this could be a very smart move by the Russians. I wonder how the technology will develop with a major banks and governments involved in the development?
Maybe less volatility? Who knows.. gonna be exciting that's for sure to witness the adoption rate.
That makes sense. I'm wondering though, benefit for the government or large bank. Is there going to be the potential for manipulation or is it an effort to move control of intentional money trades to crypto and harm the bigger players. I see that as the long-term outcome of the advent of cryptocurrencies, but then again business and political machinations always make for interesting lines of thought.
It is a golden time for cryptocurrencies especially today that BTC has a good price that mining it is now more profitable than ever and it affects all cryptos in a good way..
Massive news for Bitcoin and I wonder where it will go . Russia is a huge economy so the impact may be huge as well. OmiseGO has been doing so well. I have been watching it recently and heard a lot of good things about it. Wonder how the market reacts to Thailand news. Having Vitalik behind it means a lot as well.
I'm very much impressed with your good judgement on the coins. The stats show for themselves. So professional of you to state everything so clearly. Crypto space is occupied by so many dummy predicters that good judgements get ignored.
Thanks for your post. Looking forward to following your advice
The ETH foundation must conpensate the ICO victims (that did not get payed back)
This omisego is in my bag
hodl tight!
Yeah tq
Steem will make us millionares from next year..I posted about it 2 days ago with solid analysis. Steem for life
informative post.. thanks...
go through this post too if u like follow and UPVOTE :)
https://steemit.com/hot/@sakshi1524/guys-go-listen-to-music-trust-me-its-beneficial-scientifically-proven