"A little perspective, like a little humor, goes a long way." - Allen Klein
It's how you look at it
The bad news is that the markets are down today. The good news is that Thursday is here and we are one day away from the weekend! The best news is that you are right here reading this newsletter. Much appreciated 😀
Do continue to entertain us with your answers to our polls below. Share your thoughts with us as it's a great way for us to interact with you! 💙
Cooling off or just getting started
Markets are down slightly today with total market capitalization at $223 billion, after losing more than the $5 billion it gained yesterday. 😢
BTC is currently down ~2.28% today to $6,927 but is still on a mini upswing that began on Aug 21. However, it failed to break past the 100-day EMA resistance line it briefly tested yesterday, and with MACD indicators are signalling for a downtrend reversal, we could be seeing a downswing in the coming days. 🤞
We still see BTC trading within a tightening downward wedge, so it will be interesting to see what transpires as it continues trading within it and as the wedge tightens. 👀
The other cryptocurrencies mostly saw red today, with general losses in the range of ~4-9%. IOTA and DASH both broke their 2-day streak with ~13.27% and ~8.94% losses respectively. The anomaly today is veteran coin, DOGE, which is up ~22.37%.
When will it stop
The China crypto crackdown continues. A special economic zone in southern China known for boosting economic and technological development, the Guangzhou Development District, has banned all promotional events related to cryptocurrency. 😭
On Aug 24, the district’s finance department of issued a notice to all local businesses alerting them of the new mandate. Citing “to strength the position of Chinese yuan as the legal currency in China and to stabilize the country’s financial system” as the reason for the ban, this ban is similar to the one introduced to the Chaoyang district of Beijing on Aug 17.
Soon to enter the fray
Stablecoin Terra, has raised $32 million in their seed round with notable backers including Binance, Polychain Capital, FBG Capital, Hashed, 1kx and Kenetic Capital. 💰
Created by Danial Shin, who also founded a $1.4 billion startup called TMON, Terra is set to launch with partner companies that have access to an existing user base totaling 40 million customers. 💪
These partner companies, collectively forming the ‘Terra Alliance with $25 billion in total annual sales’, are a group of e-commerce sites - including Woowa Brothers, Qoo10, Carousell, Pomelo and TIKI - that seek to incorporate the stablecoin into their businesses.
Out with the old, in with the new
Standard Chartered bank is collaborating with the financial arm of manufacturing company Siemens for a trial scheme to puts bank guarantees for trade finance on a blockchain, so as to move away from traditional paper-intensive processes to fully digitizing bank guarantees through smart contracts. 📂
The trial is expected to complete by the end of 2018, and if proven successful could enable Siemens to provide greater efficiencies for large clients. 👍
The Organization for Economic Co-operation and Development (OECD) will be hosting an international blockchain technology conference next month to evaluate its impact on government activities. The Moscow government is planning to use the Ethereum blockchain to allot commercial plots in their weekend farmers markets.✋ The Commonwealth Scientific and Industrial Research Organization (CSIRO)'s research arm, Data61, is working with IBM to develop a pilot Australian National Blockchain (ANB) to enable automated business transactions based on predefined legal terms. 📜
Poll of the Day
On a scale of 1-10 (with 10 being the most): how much do you love your current job? 🌞
And... would you want to pursue a career related to blockchain now or sometime in the future? Plus, your chance to tell me about your dream job! 😝
What you said
How much do you agree: "To stand up for what you believe in in the face of adversity is a sign of true confidence and courage"
The average answer was a convincing 8.7! No one voted any less than a 6 too. I guess having unwavering convictions is something others can admire and get behind with. I feel that it is important to know what you stand for, and to not shiver when met with challenges. 💪🏻
"Do you try and convince your crypto non-believer friends that crypto is the future?"
66.7% voted 'Yes'; 33.3% voted "No".
Those who voted 'Yes' said they want their friends to be part of the revolution - all aboard moon express 🚀, and because the future is a digital one - we certainly are witnessing the transition! 👁️
Those who voted 'No' said they weren't sure what the future holds and feared giving incorrect advice - I'm sure your friends wouldn't hold you accountable! besides, what if you're right? 😛, believing in doing your own research (DYOR) and not forcing beliefs onto others - those people certainly are annoying 🙄, and the funniest one was because he wants to invest before they do - we have a front runner! 🤣
"When was a time you had to stand up for yourself, or for someone else? Tell me about it.
One said he deals with situations pertaining to religion and politics at least once a week - that must be so stressful 😥. Another said he once made a formal complaint for below par hospital care which eventually led to a change in processes - wow good on you! you did all future patients a service 👍. One also said he stands up for himself everyday as his wife blames him for everything - Hahahah, this really cracked me up. Sorry to hear that, bud. 🤣
Thank you all for your interesting answers. They never fail to entertain!
Thanks for reading today's newsletter! See ya tomorrow 👋!
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