The Quick Crypto Roundup - Episode 2 (October 12th 2017)
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With so much crypto news today, it's time for episode 2 of The Quick Crypto Roundup.
Let's get right to it...
Bitcoin Reaches New All Time High!
I have to kick things off with this one, according to the trading view chart below the peak of the high was $5363. Impressive!
But, things are looking a little bit overbought right now, and as the red candle to the right suggests, we could see a little bit of a pullback in the short term:
Even so, this can only mean one thing:
Bitcoin isn't going anywhere!
Speaking of Bitcoin...
Jamie Dimon "Done Talking About Bitcoin
According to an article on Coin Desk, Jamie Dimon is apparently "done talking about bitcoin".
Good!
You can check that out here: https://www.coindesk.com/jamie-dimon-says-hes-done-talking-bitcoin/
HODLing Crippling Bitcoin Adoption?
Michael J. Casey asks that question in an op-ed, he suggests that since Bitcoin is becoming such a great store of value, and the price continues to increase (as the new ATH would also suggest), that people may be reluctant to actually use bitcoin as a currency.
It's a great argument, and you can read more about that here: https://www.coindesk.com/why-hodling-is-hobbling-bitcoins-prospects-as-a-common-currency/
Instant Purchases Now Available on CoinBase For US Customers
Coinbase has announced that some users will now be able to access "instant" purchases of bitcoin, ethereum and litecoin.
I currently use CC, but this feature should make buying BTC, ETH, and LTC a lot smoother.
Full article here: https://www.coindesk.com/bitcoin-ether-litecoin-coinbase-enables-instant-purchases-for-us-buyers/
Debt Settled in Sweden With Bitcoin
Someone owed the government money, so they paid them in Bitcoin? Well not quite, apparently the debt was settled by handing over 0.6btc, which will then be sold on to the highest bidder at a public auction.
So if you're in Sweden? You might want to see if you can get your hands on some cut-price bitcoin.
Full article: https://news.bitcoin.com/swedish-authorities-settle-first-debt-in-bitcoin/
Bitcoin Cash Now Available on Blockchain Wallet
If you've been looking for a Bitcoin Cash (BCH/BCC) wallet, Blockchain now has one available.
Check it out here: https://news.bitcoin.com/users-can-store-and-exchange-bitcoin-cash-via-the-blockchain-wallet/
Ethereum ETNs Now Available
Lastly, some Ethereum news!
2 Ethereum ETNs have been released on the NASDAQ Stockholm. This means that Ethereum can now be purchased through traditional brokers.
The issuer, XBT Provider, has had some regulatory problems recently though, so it will be interesting to see how that plays out.
Full article here: https://news.bitcoin.com/xbt-provider-launches-first-ethereum-etns/
That's It For This Episode!
Thanks very much for viewing. If you like this style of post? Please let me know in the comments and I might take this format on as my new crypto-news posting style.
If you prefer my other method, I might stick to the 1 piece per-day format. All feedback appreciated!
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An excellent point as regards the reluctance of people to use bitcoin as a currency. It becomes more of an investment than such. It appears to be going the way of Tulips.
Indeed good riddance to JD's FUD.
Thank you for sharing this @futuristgear.
As an aside - refresh my memory: What quality or qualities are necessary for a currency to be validly called a 'security'? :c)
It's turning into Digital Gold (as some suggested it would).
Yep, see ya Jamie!
I think (I'm not 100% clear on this either) that a security is when you are said to own a stake in a company. So a coin like Lykke, which if you hold 100 of them is equivalent to 1 share in the company, would be a security. I'm not sure how each of them can be classed.
I know EOS took steps to say that it isn't a security.
Thank you for the explanation @futuristgear!
I am not clear on why being a security is to be considered a bad thing - but I'm sure I'll come across such information eventually. :c)
I'm not sure it's right, but that's how I understand it. :-)
I think it is because if they are classed as securities then (in the US at least) people participating in ICOs are meant to be "accredited investors", which are essentially wealthy people who have a lot of money.
ICOs democratize investing, so I'm a big fan of them. (Although we need to be wary of scams of course).