Crypto Daily News – January 31st 2018
Your One Stop Source for Daily Cryptocurrency News and Commentary
Disclaimer: I’m a self-proclaimed crypto-noob and trying to learn every day. While still a noob, what I’m good at, though, is deep-dive searching, synthesizing information, and making sense out of things. While I hope my information and commentary are helpful, please always rely on your own research before making any investment decisions.
Steemians, thanks for checking into my post. This is going to be the first of what I hope will be a daily recap of the major cryptocurrency news and my thoughts on the happenings of the day. There's a lot of noise out there, and I find that listing both the good and the bad news all in one place helps me cut through all of that and get a better feel for what the heck is going on.
So, without any further blah blah blah, let’s dive right in! As we all know it’s been a rocky start to 2018 and today was much the same. We’ll be covering both the good and the bad.
The Good:
[South Korea says no plans to ban cryptocurrency exchanges ... - Reuters](https://www.reuters.com/article/us-southkorea-bitcoin/south-korea-says-no-plans-to-ban-cryptocurrency-exchanges-uncovers-600-million-illegal-trades-idUSKBN1FK09J)
[Japan's biggest messaging app Line is planning to launch a cryptocurrency exchange - CNBC](https://www.cnbc.com/2018/01/31/japans-line-corp-to-offer-cryptocurrency-trading-loans-and-insurance.html)
[Samsung confirms it is making ASIC chips for cryptocurrency mining - TechCrunch](https://techcrunch.com/2018/01/31/samsung-confirms-asic-chips/)
The Bad:
[Facebook Bans All Cryptocurrency Advertising, Including ICOs...- Forbes](https://www.forbes.com/sites/jessedamiani/2018/01/30/facebook-bans-all-cryptocurrency-advertising-including-icos-bitcoin-and-ethereum/#75d1cc7f4630)
[Why Crypto Traders Are So Worried About Tether - Bloomberg](https://www.bloomberg.com/news/articles/2018-01-31/why-crypto-traders-are-so-worried-about-tether-quicktake-q-a)
[Coincheck hackers move cryptocurrency to stymie recovery - Nikkei Asian Review](https://asia.nikkei.com/Markets/Currencies/Coincheck-hackers-move-cryptocurrency-to-stymie-recovery)
[National Media Campaign in Hong Kong Warns Against ... - newsBTC](https://www.newsbtc.com/2018/01/31/national-media-campaign-hong-kong-warns-cryptocurrency-investments/)
I think the different countries’ regulatory efforts and restrictions on cryptocurrency will continue to dampen the price of digital assets for the time being. Also, while everyone knows about Bitcoin and cryptocurrency, it’s still a bit away from gaining mainstream acceptance and usage. For example, Mark Zuckerberg and Facebook decided that they want to stay away for now. But when I say ‘for now’, I do mean ‘for now’. There’s even some speculation that Mark Zuckerberg actually intends on creating his own currency down the road.
Cryptocurrencies have become so significant and demand for decentralized currency is very real. Despite the Korean government placing regulations on trading of digital assets, they did not ban it. While there’s some market turmoil right now and also significant risk, such as Tether, in the end cryptocurrency and block chain tech is here to stay. Cryptocurrencies might continue to go down, but perhaps this very turmoil could provide good entry opportunities.