Crypto News Weekly 6-1-18 *crypto business report*

How do we know this coin hasn't already been funded?

4th century AD Athenian Tetradrachm

-Money-

Hello and welcome to the week's trading report.
This week crypto-currency continued to gain value across the board with many coins including ETH, XRP, DASH, and XMR all reaching all time highs this week and continuing their rise in value. Today BTC continued edging closer to its all time high reached at the end of 2017. An investor holding BTC bought at the end of last year can only hope that the big money attracted by the allure of "reputable sources" stays in the game for he is ready to panic sell at a moments notice.

BTC 3 Month gain chart

ETH 3 month gain chart

Notable alt-coin trading events of this week

• BCN surpasses DOGE in value after an increase in mining difficulty caused a spike in demand that was not able to be filled. The BCN coin is currently trading at just above 1.6 ¢ while DOGE coins are trading at just under 1.5 ¢
  
  There are no longer immediate profits to be gained by mining BCN with your computer, just over a month ago I was able to mine about a hundred of these coins a day now that number has decreased to less than ten. I predicted BCN would surpass DOGE here months ago when it was still a complete long shot, now my prediction has come true. It is surprising considering BCN has 70,000,000,000 more supply and I dont think this will last a long time, but it is an indicator of consumer confidence, more on how that plays out next week.

• USDT continues to rise in rank in the coin market cap rankings, Steem is currently ranked one better than USDT. The dollar tether is an important gauge of market entry by new investors. The rise in USDT means that more people are cashing out of digital holdings into the fiat economy
  

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USDT market snapshot

While the value of the dollar remains at one or zero in the digital world the real price is influenced by consumer demand and industrial production in the real world. Digital currency has lots of demand but virtually no industrial production other than wholesale electronics consumption. If USDT were to spike it would cause a crypto currency meltdown of epic proportions, I will be keeping my eyes on this instrument and will update you will any critical information. Next week we will consider if a component of the demand driving the Bitcoin boom may be in it of itself driven by the consumption of fiat funded goods specifically computer chips, and how this unique relationship has shaped the mainstream media attitude about the new currency.

• Binance exchange suspends the creation of new accounts
  I didn't think it was too big of a deal until I saw their incentivized affiliate program, no wonder they did this! Anyone could become a millionaire with some slick marketing and a program like this! I suspect this program was taken advantage of and they are working out how that happened.

• WEX.nz adds segwit to lower exchange fees to transact on their exchange.

Closer to your digital realm,

• Steem and SBD prices are trading close together with 1 SBD trading for about 1.25 steem and SBD holding out just under $8 US dollars.
• Steemit jumps to rank 563 of the most popular websites in America and is ranked 1,519th globally.
• Steem was name dropped by Forbes magazine just before the new year.
  
  The context of the name drop was complaining about coin market cap's inaccuracy of accounting for STEEM creation and supply.

Looks like there will be lots of new users soon, if they didn't make an account yet then at least the name is in their mind for later when they realize everyone is leaving from facebook, twitter, and reddit and they better get over here and make an account before they become a digital bum. _________________________STEEM

Things are looking up for the legitimacy of this platform not only in the value of its currency but the quality of posts to read. We can grow together and live the lives we have always wanted with these amazing opportunities to organize or own economy on the internet. Until next time, have a great weekend steemit.

https://en.wikipedia.org/wiki/Coin
https://wex.nz
https://www.forbes.com/sites/ktorpey/2017/12/29/comparing-bitcoin-and-other-cryptocurrencies-by-market-cap-can-be-very-misleading/#b62b6752509c

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