Weekly/Daily Cryptocurrency Updates and News - November 20th
CRYPTO OF KOREA
NOVEMBER 20TH
November 20th-24th
- MARKETCAP ANALYSIS
- BTC/BCH NEWS
- WHAT’S UP…DATES ON ETH
- IN OTHER NEWS
- ONGOING CALENDAR
• As part of an effort by Australian leadership to integrate blockchain technology into civil infrastructure, energy startup Power Ledger (POWR/USD) recently received money from the government to work on a green city project in the country. The company saw a big jump in price on Bittrex around the same time that the news regarding the grant was released. The company raised AU$ 34,146,854 (roughly US$ 25.86 million at press time) in its initial coin offering that closed on October 6th.
• The infamous founder of what was once the largest trading platform Mt Gox, Mark Karpeles, is going to revive the cryptocurrency exchange. To do this, he said, the amount of $ 245 million is required. He later posted: “Updated on Nov 20th: after discussing with lawyers it has been confirmed this option is not practical (mostly due to compliance issues).”
• Glint, a new app that launches today in the UK, offers payment services using gold. In partnership with MasterCard and Lloyds Bank, Glint users can load credit onto their account and use it to buy a portion of a gold bar to store their money. Users can then send money and gold to others with the app and use a Glint debit card to make payments in a variety of currencies, and gold, at interbank exchange rates.
• Blockchains could spell death for central authorities including banks and lawyers, a new report claims. The report from the ICAEW group says that smart contracts using Blockchain technology could shake the very foundations of financial systems. Thanks to the efforts of Triad Securities, we now have an answer to that question. Between 6 and 13 November, they spoke to 317 institutional traders in a survey that reveals conflicting views on bitcoin.
MARKETCAP ANALYSIS
At the time of writing:
Market Cap: $243,311,416,536
24h Vol: $7,403,167,283
BTC Dominance: 56.2%
I’ve not seen many other traders discussing this as everyone seems too focused on one coin or another. We have been slowly adding several billion dollars daily across the board. BTC has maintained it’s % dominance which means money is pouring across all alts.
BTC/BCH NEWS
BTC breaking ATHs… all over the news. Wow $8000 broken, wow $8100 broken, wow $8200 broken, wow $8300 broken. Seriously, every ATH by $100 there were new articles about how Bitcoin is at an all-time high.
Interestingly enough, rival BCH, is still hanging onto its consolidation zone from $1100-$1200.
Korean volume on Bithumb seems to be equivalent to other large exchanges but the usual Korean premium was down ~$100 from US prices and ~$300 from Japanese prices earlier. Korea usually has one of the highest prices internationally. Some of my analyst friends suppose the price is being suppressed as we just recently broke 9 mil KRW.
Most TA I’ve read say we have broken the upward resistance line and are bound for $9000 and upwards of $12000 before a reversal. It says if we would not have broken $8000 again we would have had a strong pull back.
BTC Survey of Institutional Traders
• https://news.bitcoin.com/62-of-institutional-investors-are-buying-or-considering-buying-bitcoin/
Synopsis:
When asked whether they had ever bought bitcoin or other cryptocurrencies, 31% said yes, with around half having done so only within the last six months. Another 36% professed to be considering buying bitcoin, 31% ruled it out altogether and, not surprisingly, just 1.5% of respondents confessed to being unfamiliar with bitcoin.
41% see bitcoin as a safe store of value similar to gold and just over 39% think bitcoin is a bubble that’s destined to crash. Not all traders are as pessimistic about the currency’s prospects however: 27% think it will continue to rise gradually, and another 17% are bona fide bulls, asserting that bitcoin will double in value in the next six months.
BTC Bulletproofing
• https://news.bitcoin.com/stanfords-applied-cryptography-group-aims-to-bulletproof-bitcoin/
Synopsis:
“If all Bitcoin transactions were confidential and used Bulletproofs, then the total size of the blockchain would be only 17 GB, compared to 160 GB with the currently used proofs.”
zkSNARKs, popularized in ZCash, are precursors to Bulletproofs. However, “Bulletproofs are short non-interactive zero-knowledge proofs that require no trusted setup,” which is the case with SNARKs.
Block efficiency usage means the ACG proposal can “have many other applications in cryptographic protocols,” they write, “such as shortening proofs of solvency, short verifiable shuffles, confidential smart contracts, and as a general drop-in replacement for Sigma-protocols.”
WHAT’S UP…DATES ON ETH
Vitalik Says ICOs Have Gone to Ruin
• https://cryptovest.com/news/vitalik-buterin-says-icos-with-volume-bonuses-should-be-skipped/
Synopsis:
From his Twitter an interesting dialogue:
Protip: if an ICO does volume bonuses ("buy at least $50000 of coins, get 20% more") then they do not understand the first thing about the egalitarian spirit of crypto (or at least, the egalitarian spirit that I believe crypto should have). Skip them.
Replying to @VitalikButerin
Ethereum did a bonus if you bought the presale wallet earlier rather than later. That is ok though? Act fast! It will cost more tomorrow if you delay!
Replying to @HeyRhett
Time-based is totally different. Every $1 still has the same opportunity, regardless of whether it's owned by rich or poor, well-connected or not.
Replying to @HeyRhett
And to be clear, present-day me does NOT endorse everything that we did in the 2014 presale. For example the lack of lockup periods for founders was not good imo.
Parity – Polkadot – They Knew About the Bug
• https://www.theinquirer.net/inquirer/news/3021525/parity-admits-it-knew-about-bug-that-caused-frozen-ethereum-funds
Synopsis:
Parity says that it was warned about the issue (of someone being able to take control of its library contract) in August. The developers acknowledged the bug and flagged it to be fixed "at a future point in time."
"In August, a Github contributor called ‘3esmit' recommended a code change that initWallet should be called when being deployed which at the time was considered a convenience enhancement," Parity said.
"Thus, we committed this proposed enhancement to the library contract that would automatically initialise it by calling initWallet on construction. Interpreting the recommendation as enhancement, the changed code was to be deployed in a regular update at a future point in time."
Polkadot – Pre-Pre ICO Sale
• https://www.cryptoninjas.net/2017/11/20/crypto-investment-firm-kryptonite1-invests-986k-polkadot-project/amp/
Synopsis:
Kryptonite1, a publicly listed investment company focussed on the blockchain ecosystem today announced that the company took part in the private allocation round preceding the public auction of the Polkadot Project (DOT). Kryptonite1 invested USD $986,287 for 40,013 DOT tokens (including 15% ‘bonus’ tokens). The public auction concluded with just under USD $150 million contributed in total.
Ethereum Staying Bullish
• http://ethereumworldnews.com/ethereum-magic-number-555/
Synopsis:
Overall, the bullish trend should continue with the magic number such as $555 being the first upside target. It corresponds with the upper trendline of the ascending channel as well as 527.2% and 827.2% Fibonacci retracement levels applied to corrective waves after the downtrend trendline breakout.
There are two major support levels, first is $345 and second, the key support is $280. Only a break below $280 would be able to change the direction of the Ethereum, which at this point seems unlikely.
IN OTHER NEWS
All alts are pumping.
Etherecash
• https://themerkle.com/blockchain-startup-etherecash-announce-peerless-crypto-platform-set-to-take-on-the-global-banking-industry/
Synopsis:
Etherecash, a Blockchain technology start-up, have developed a platform for sending, spending and lending money through mutual terms, secured by a Ethereum smart contract and backed by the platform users’ crypto assets.With their crypto debit card, Etherecash offers a world-first in a card that can hold multiple cryptocurrencies for use abroad, in shops, with ATM withdrawals and more; just like a regular debit card, but powered with all the faster cheaper, and more secure advantages that blockchain and cryptocurrencies bring.
Etherecash has designed a system where users can lend to borrowers through borderless transactions, providing loans from wherever they are to those in need whilst providing generously higher returns as opposed to typical bank rates.
Related with Vitalik’s ICO Comments Above
• https://news.bitcoin.com/white-paper-dead-heres-replace/
Synopsis:
Much merriment was derived this week after it emerged that cut-price jobs market Fiverr is offering white papers for as little as $80. A more realistic estimate from earlier this year placed the cost of authoring a crypto white paper at 2,000+.
ONGOING CALENDAR
Date Event
November 21st BTC - The largest blockchain event of 2017 in Crypto Valley, Zug (Switzerland) - speakers, startups & Blockchain Competition awards.
November 21st NEO – Swissnex China is holding a Blockchain in Fintech event in Shanghai. NEO founder, Da Hongfei, will participate in a panel at the event.
November 21st Everex (EVX) - Bank of China Meeting
November 21st WAVES - A large-scale event from the Institute of the Stock Market and Management (IFRU)
November 21st ARK - Building iOS/Android based mobile wallets is at 98% of the process. So they could release their mobile wallets soon.
November 21st Blockchain Summit - The largest blockchain event of 2017 in Crypto Valley, Zug (Switzerland) - speakers, startups & Blockchain Competition awards.
November 21st Matchpool (GUP) & QTUM - Releasing the full details about our QTUM Partnership.
November 22nd Monero (XMR), WAVES, IOTA added to Coinrail in Korea
November 22nd Cindicator (CND) - Trading indicators, indexes, analytical products, ICO ratings, Web-version release of the collective intelligence platform.
November 22nd Internet of People (IOP) - Bluepaper
November 22nd Groestlcoin (GRS) - Roadmap Release
November 22nd Monetha (MTH) - BESCHRIJVING e/d/t x blockchain FROM COMMAND-LINE_ TO REALITY e/d/t foundation is launching with their first event.
November 24th Decred (DCR) - features required for activation of LN (lightening network) have completed development, passed the on chain vote process, and are releasing.
November 24th Ardor (ADR) - Final Ardor testnet release. Source code is released for review under temporary license, no cloning allowed. Node JS module and Mobile App
November 24th ZCoin (ZOI) - The release will happen in tandem with a fork/network update!
November 24th LAToken - LATOKEN announced that a major update will happen this week.
November 24th Confido - We can confirm that CFD will be listed on FOUR new exchanges: Cryptopia, Mercatox, IDEX and R
November 25th BTC - Lightning Labs Has Announced Its User Interface Wallet
November 25th Bitsend (BSD) - Segwit activation.
Bitsend enalble the new masternode segwit system.
https://bitsend.info/the-first-masternodecoin-with-core-0-14-and-segwit/
November 26th NEO – dApps winners announced
November 28th SALT - SALT will be attending the Consensus Invest event.
November 28th Stellar Lumens (XLM) - Ella will be at Block Show Asia in Singapore, sharing Stellar’s solution on using blockchain technology in the cross-border payments
November 30th Ripple (XRP) - Japanese exchange GMO has announced they will add XRP/Ripple to their exchange from November.
December 4th Melonport and ICONOMI at Disrupt Berlin conference
“They have different approaches to the same issue and both focus on cryptocurrencies as investment vehicles. “