Into the ether
Market Report: 1st Nov. 2018 — Subscribe to our newsletter.
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CRYPTO NOTE
The daily view from our desk
In news that won’t come as a surprise, GCHQ are on Instagram, but they’re not spying on you (well they are), they’ve created their own account! Meanwhile in Turkey, this cats debut in the fashion world was a roaring success. And as a reminder for how far medicine and technology has progressed, three paralysed men can walk again after spinal implants.
ALT HALLOWS’ DAY
Many alts look good. But for now bulls haven’t yet show up to the party
Crypto-followers decided to face whatever haunts them and celebrate All Hallow’s eve according to tradition — i.e. taking advantage of the thin boundaries between pump and dump to connect with past profits. However, even though the top 100 alts appreciated 4.9% over the past 24 hours, following bitcoin’s 1.5% jump, it’s important to note the market cap of the top 100 alternative cryptoassets has decreased ~10% in October.
This stat was underlined by Lighthouse’s not-so-optimistic thread about this bear market. In brief, there’s no “inflow of new money”, so only some “nimble traders” are able to profit from the consistent alt cycles, as Crypto Range remarks. Moreover, Crypto Peter reminds that despite the bounce, BTC’s monthly candle failed to close green — making this the 4th time the original cryptoasset has seen three consecutive red months since 2012.
INTO THE ETHER
Devcon4 gains pace with sing-along songs and serene updates
It seems Ethereum conferences are trying to implement a musical moment tradition. After Edcon Toronto opened last May with Vitalik and company doing a weirdly funny “badger song” dance, Devcon4 has joined the lineup with yesterday’s “buidl song” that the dApp platform’s famously groovy co-founder used to close his keynote talk. In that regard, Tim Copeland wrote a nice summary of the shared roadmap and updates.
From philosophical openings to ‘serene’ improvements, Ethereum 2.0 is all about scale and speed through staking. And hopefully less about this kind of satirical enshrinement. Because even if it’s just ironical, it contrasts with Satoshi’s lost identity and the empowerment that void offered the Bitcoin community. Anyway, there are still two days to go — fully livestreamed — and you can keep following the conversation on Twitter too.
WHAT TO LOOK OUT FOR
Filter the noise and stay ahead of the pack
▪ The Block mapped out crypto media but missed two important newsletters. Ours and Joyce’s Asia-focused Global Coin Research. If you are a fan let them know!
▪ Confused about all the recent updates regarding the top privacy-focused cryptocurrencies? StarkWare’s presentation at Web3 last week offers a great overview.
▪ Anthony Pompliano interviewed Murad Mahmudov for yesterday’s Off the Chain episode. You can find the podcast and transcript on why Bitcoin is important here.
WHAT TO READ TODAY
An insight a day could give you more profits to play
▪ Beautyon analyses Bitcoin’s ten-year anniversary and what came before. Learn about the early centralised digital currencies and how you can easily gift BTC.
▪ Zack Voell apologises, but “Bitcoin is still Anarchist”. Understand why the original blockchain is un-domesticable and how that makes it “invulnerable to being co-opted”.
▪ Nic Carter reflects on the “blockchains of Theseus” and asks “what is it like to be a Bitcoin?”. No joke, it’s a serious take on how different identities battle within projects.
FOUNDATIONAL TRIVIA
Because the building blocks of crypto needn’t be irrelevant
Theseus was a mythical Greek king. Its ship is popularly used as a paradoxical analogy to question whether something which has completely changed remains the same.