📰 11 AUG 2018: Bitcoin dominance at 51%, prices fall, South Korea promotes blockchain revolution, and other news by ICO Telegraph

icotelegraph (60)in #bitcoin • 6 years ago (edited)

Latest opinions, market updates and the new book about cryptocurrency by crypto-anarchist ↪️

📌 Bitcoin dominance exceeded 51%

The ratio of the Bitcoin to other coins volume is equal to the December's values

Hello! At the moment, the market is experiencing a critical decline. This trend can give to BTC another impulse to overcome the $6000 mark. However, the price is not the only scale now that we are watching. As for the ratio of Bitcoin volumes to the altcoins market, BTC has a share of just over half (51%). This is equal to the values of last December.

As Bitcoin gained weight on the crypto-currency market, other coins reduced their capitalization. Now the first dozens of altcoins repeat the model of the bear flag. About $300 for Ethereum, $550 for Bitcoin Cash, $55 per 1 Litecoin and $90/$150 among the Monero/Zcash markets with the $207b total market cap (can be easy evaluated to 200b during this sale).

A rise in bitcoin dominance essentially means bitcoin is more in demand compared to the alternative cryptocurrencies and an increase in bitcoin dominance could be seen as the start of a bull run, as it's a common route for fiat money to enter the cryptocurrency market.

Quote: can't be figured out better than Forbes did.

However, is this the rule for crypto, and will Bitcoin break it? At the moment, the market has no clear rules at all, therefore, the correlation between domination and prices can be delayed.

Upd: Bitcoin is now at ~ $6440

📌 South Korea promotes the blockchain revolution

The new technology will become one of the four parts of the country's industrial revolution

The Ministry of Science and ICT of South Korea will help young people to study blockchain technology as the one of the 4 parts that will follow another Industrial revolution in this country.

What is it? What are the features of this process (as explained in the Korean sources):

The fourth industrial revolution is expected to reach a turning point around 2025.
The outcome of the revolution will name the winners and losers among the countries.
Korea lags not only from the world but also from Asian neighbors in particular, which form the "Four Asian Tigers".
The revolution is closely related to learning: with the planned development of these processes, Korea will be able to achieve results that will help it to take its rightful place among innovators and producers, for example, US, Europe, Japan etc.

The Ministry announced the development of 40 courses that cover these thematic areas. According to the ministry, the courses will help improve the employability of young people. These courses will include not only blockchain, but also machine learning, data analysis, and other related studies.

💰Market Cap: $206 959 222 125
💵24h Vol: $12 624 694 392

📊 Prices TOP 11.08.2018

↗️↘️Bitcoin: $6 149
↗️↘️ETH: $308
↗️↘️XRP: $0,292709
↗️↘️BCH: $550
↗️↘️EOS: $4,92
↗️↘️LTC: $0,206969
↗️↘️XLM: $56,22
↗️↘️ADA: $0,109472
↗️↘️USDT: $1,00
↗️↘️TRON: $0,022124

📌 Wendy McElroy: free-market law enforcement for crypto

Wendy McElroy publishes her new book, "The Satoshi Revolution" exclusively with Bitcoin.com. Opinions/economics/philosophy of right

One of the largest news editions in cryptocurrency and blockchain, newsbtc.com now has an agreement with Wendy McElroy on publishing the fragments from her new book.

This excerpt begins with a quote by Robert LeFevre, an American libertarian businessman, as well as the author of his own works. Comparing the state with the factory, he says that this huge legal structure imposes its offer on buyers who are not able to refuse this: in the form of taxes, financing of armies and others at the moment compulsory things.

***

From this point on, the author explains initially a classical libertarian thought about the problems of state intervention in the formation of economic and social processes. Further, it is mentioned that the cryptocurrency is probably the only way to exclude itself from the system of forced spending.

***

Concerning the history of Bitcoin development and Satoshi Nakamoto's plan especially, Wendy notes several biographical factors lighting out the most famous cryptocurrency. For example, Bitcoin was popularized too early, before its infrastructure could be critically improved. Satoshi left the project, and we can not ask him what improvements it could be: the democratization of the network, strength, stability, or something else. Who popularized the weak Bitcoin, and betrayed the strong one?

***

You can also find the continuation of this story from source.

📌 Charles Hoskinson: «There’s huge investments going into cryptocurrency»

IOHK co-founder supports the positive opinions about future of the crypto

Today, Charles Hoskinson, well-known as co-founder of IOHK and the creator of the Cardano protocol started [Ask Me Anything] thread on Twitter.

So, now the market is experiencing a drop, the opinion appears one after another. During this time, you may have already heard that they say "game over for the Bitcoin". But, there are less loud, but still strong positive opinions. Paying attention to the arrival of major players such as Swisscom and Goldman Sachs, Charles claims that the market is likely to wait for portfolio rebalancing, and bring new money to crypto then.

“…there’s too much money in the world. Thanks to 2008 it’s all floating around, they’re looking for a home and you can only buy so much gold and so much land.

So when you create new asset classes that give somewhere for that money to go… So when that occurs, my belief is that it’s gonna have a huge positive effect on the marketplace.”

At the time of writing, the Bitcoin dominance has already increased to 51%.

📌 More updates

If you have nothing to do on the Internet, then you can go to the blockchain.org page. Moreover, this domain has already been acquiried by TRON, and will soon provide access to the search and data analysis based on blockchain.
Zcash posted weekly update: 2.0.0 release, events, video.
Cardano released weekly report: development highlights, wallet updates + decentralization.
Don`t forget that Vechain/VET token swap begins [know more].