Crypto Newsletter
Hello all together,
these past weeks were very exciting. To write down the most important things I read about cryptos all week, I decided to write this newsletter and talk about the most important issues of the week. I am going to post this every Sunday.
An issue that also will probably be thrilling the next weeks is China:
After some regulation and forbidding of exchanges or Bitcoin fud, there was a document leaked that shows China wants to exit from bitcoin mining.
https://qz.com/1174091/china-wants-an-orderly-exit-from-bitcoin-mining/
This ist the link to the originally leaked documents (for those who are able to read Chinese):
https://twitter.com/cryptovenus/status/949405526315716608
Furthermore, China emphasised that trading of BTC is basically allowed.
https://twitter.com/cnLedger/status/950572526823882753
India seems to be at the ready to host miners.
https://cointia.com/post/2483
Another Issue are the deep plunges of crypto prices in the past week.
For starters, cmc decided to exclude South Korean exchanges like Coinone or Bithump from price calculation due to price disparity and the limited possibilities to offset the prices through arbitrary activity. So there was no real drop of prices, but the average price adjusted to the worldwide level after excluding the higher Korean prices. (e.g. 1ETH on Coinone ca. 1750$, on Bitfinex ca. 1200$ on Monday, 08:31 UTC)
https://cointelegraph.com/news/coinmarketcap-removes-south-korea-exchanges-ripple-market-cap-drops-20-billion
Additionally, also the plunge of prices on Tuesday and Wednesday are attributed to South Korea, or better said, to Fud:
There have been some rumors that South Korea is about to ban trading of Bitcoin and other Cryptocurrencies. This caused the crypto market cap to drop from 750 billion USD to 650 billion USD and below.
„Korea bans Bitcoin FUD ist the new China bans Bitcoin FUD“ https://twitter.com/SatoshiLite/status/951336985477566466
Meanwhile, thist statement has been revised: https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says
Also there was a petition launched that gathered more than 120k signatures in a few hours to days.
https://www.ethnews.com/120-000-signatures-gathered-in-petition-to-south-korean-blue-house
Who wants to do a ICO should be prepared well. Using Ctrl + c while writing a whitepaper is not that good.
https://www.reddit.com/r/RaiBlocks/comments/7oftkz/dadi_accused_of_copypasting_whitepaper_by_the/
I really am curious what happens.
Also TRON is suspected of copying large parts of their whitepaper of Filecoin and IPFS (No, this is no Fud of Charlie Lee, this was leaked by Juan Benet, Founder of Protocol labs, to which Filecoin and IPFS belong)
https://twitter.com/juanbenet/status/950142785373405184
http://www.trustnodes.com/2018/01/08/trons-whitepaper-copied-plagiarized
Because I didn’t belive this and I hoped this would be fud, I downloaded the Filecoin and Tron whitepaper and compared them.
Sadly, after 5 min of searching, I found at least one illustration, its corresponding explanation and partly the mathematical background that was copied. I’ll upload the screenshot I made (Filecoin p. 13; Tron p.19, 20)
This is not worth of beeing a top20 cryptocurrency. Sadly Tron attracted through the 150% raise in the past week lots of people just looking for fast money who don’t care about news like this.
I am really furious, because I invested, even if I knew the Filecoin and IPFS whitepaper. But I didn’t realize it.
Regulations are another theme which was important in the past week.
https://www.coindesk.com/bank-of-israel-digital-currencies-are-an-asset-not-a-currency/?utm_content=buffer50f9c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Some others predict a total collapse of Bitcoin through regulations:
https://cointelegraph.com/news/harvard-professors-predict-bitcoin-collapse-due-to-government-regulation
South Korea, China and Japan want to work together for regulating cryptocurrencies:
https://news.bitcoin.com/south-korea-to-cooperate-with-china-and-japan-on-regulation/?utm_source=dlvr.it&utm_medium=twitter
And they want a worldwide collaboration for regulation:
https://www.ethnews.com/south-korea-asks-for-global-participation-in-cryptocurrency-regulation
https://news.bitcoin.com/south-korea-countries-eu-imf-collaborate-curbing-crypto-trading/
Thats it for now, hope you enjoyed the News and stay tuned for next weeks‘Newsletter.
