"Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough"
- Oprah Winfrey
Welcome back and thank you for your continued support for this newsletter! Hope you had a great Monday 😀. The crypto markets had a good start this week, so lets hope it continues this way for the the rest of the week ☀️.
Do continue to answer the polls and share your thoughts with us. It's a great way for us to interact with subscribers! 💙
It has been a decent performing day in the crypto markets. BTC is up~3.02% to $6,930, and is now trading above the 50-day EMA line which it broke past and closed above yesterday. 📈
Despite dropping slightly from yesterday's levels, BTC shorts are still hovering near the yearly highs seen in April, which could continue the upward price pressure in the upcoming days and push BTC to challenge the 100-day EMA resistance line which it has been trading below since early May.
The rest of the market followed suit today to the tune of a ~$8 billion total market capitalization increase to ~$226 billion. Top 10 coins mostly saw gains in the ~1-7% range, with the exception of IOTA, which rose ~15.55% - Likely due to multinational IT equipment company, Fujitsu, announcing its plans to use an IOTA-focused blockchain for its audit trail process. 💿
Today's notable mover outside the top 10 coins is DASH, which saw a ~25.67% increase. Earlier today, DASH announced its partnership with Kripto Mobile, which produces crypto-supported phones. This partnerships aims to expand the Dash user base in Latin America. ✍️
Samsung SDS, the subsidiary of Samsung group that provides information technology services, collaborated with the Korea Federation of Banks to develop a blockchain-based certification platform called ‘BankSign’ for South Korean banks. 🏦
BankSign, will make interactions between various banks’ mobile systems seamless. Users can now carry out transactions on different apps, but will only require verification (passwords, fingerprints, patterns) from one. Certification data within the network will also be valid for up to 3 years. 📱
Appreciate the efforts
The Reserve Bank of India (RBI), in an effort to boost its intellectual capital, has formed a new unit specifically to research regulatory frameworks for blockchain, cryptocurrencies and artificial intelligence. 👍
The month old unit could possibly draft rules and supervise emerging technology for India in the future. Sources familiar with RBI's plans pertaining the unit also mentioned that as the country’s financial regulator, “the RBI has to explore new emerging areas” and be “on top to create regulations”.
Vice grip tightens
Chinese search engine Baidu is moving to block cryptocurrency-related content on its online forums, joining the ranks of Tencent and Alibaba in their cryptocurrency crackdowns. The company has begun to bar sub-forums related to cryptocurrencies on their online platform, Baidu Tieba, due tightening regulations in China.
Currently, sub-forums dedicated to “digital currency” and “virtual currency” are already unavailable to users. Searching for those keywords would prop up a statement saying: “This forum is temporarily closed due to relevant laws, regulations and policies.” 🛑
More thankful thoughts
A recent survey by Deloitte found that 40% of executives from the telecom, media and technology (TMT) space want to invest millions in blockchain research in 2019. 💸
A major Russian airline, S7, has trailed a blockchain-based application that tracks data and paperwork associated with the planes' refueling process. ✈️
American multinational company, Red Hat, has filed a patent for a blockchain system that tracks customer software usage for billing purposes. 📄
Poll of the Day
How much do you agree: "Happiness is the most important thing in life" 😁
And... are you glad that you started on this cryptocurrency journey? Plus, your chance to tell me about the happiest moment in your life! 😝
What you said
“How much do you agree: Rules are meant to be broken” – Avg answer was 5.5. I guess we have a pretty even number of angels and mavericks!
"If you were currently residing in China, would you continue to find ways to trade cryptocurrencies and/or participate in ICOs, despite the strict regulations that are in place?"
70% voted 'yes'.
Those who voted 'yes' said that it was mainly to make money - I agree! we should all have full autonomy over how we spend our money 💰, to encourage innovation - yes I agree as well, but I feel there should always be frameworks in place to prevent chaos, to protect your wealth and because you don't believe in following draconian rules - this was funny 🤣.
Those who voted 'no' were mostly afraid of capital repercussions, valuing your freedom too much as it is currently too dangerous. You guys are a law-abiding bunch!
"What do you think is the strongest reason the Chinese government is so strict towards cryptocurrency trading?"
50% voted 'to restrict capital outflows' (I think this is the strongest reason as well. For instance, China has in recent years been very careful in controlling her trade balance), 20% voted 'to study it further to be fully aware of the risks' (blockchain is still a black box to many governments so I'm not surprised if this was true too), 10% voted 'to find a way to regulate the space and monetize it', 10% voted 'no idea' and another 10% voted 'other'. I'm surprised that 0% voted 'to prevent their people from getting scammed' (which is what mainstream media has been alluding the tightened regulations to)
The 'tell me about a time you broke the rules and it turned out well' question garnered some interesting responses. One subscriber said he cheated in a German exam at university, getting an A in the process, but regrets it because he wished he could speak better German today. - Be careful in the decisions you make, each every decision will have its repercussions!
Thanks for reading today's edition! See ya tomorrow 👋!
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