"The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails."
- William Arthur Ward
Hope you all had a fresh start to the week – we know our U.S. friends did 😉 We've grown pretty accustomed to slow news days in crypto these days, but it's all about turning the wheels and building fundamentals in slower periods... 😚
Just a small tremor
BTC is up slightly by ~0.53% to ~$7,278, thus keeping RSI levels on the daily chart relatively high at ~62. Shorts are still at relatively high levels which historically in 2018 is accompanied with a short uptrend, possibly enhanced by short squeezes ✊
Most of the other cryptocurrencies saw price movements less than 5% in either direction. Notable mover for the day is privacy coin XMR, which is up ~12.69%.
What was up with DOGE anyway?
There was a misunderstanding about "Dogethereum" as a term. The Doge-Ethereum bridge 🌉 is slated to be tested tomorrow, Sep 5, demoing the moving of Doge from the Dogecoin blockchain to the Ethereum blockchain and back, as a showcase of inter-operability 🐕
However, some also thought it also referred to (1) Doge having Ethereum-like features 🌝, or (2) Dogethereum (DOGX), a hard fork, that was supposed to airdrop tokens to DOGE holders, that has yet to be released. Both are unrelated to this Dogethereum bridge supported by Dogecoin developers. So... misunderstanding + hype = pump 😕
Awake at the wheel
A media company specializing in global intellectual property, iPR Daily, revealed in a report that Chinese 🇨🇳 and U.S. 🇺🇸 enterprises are leading the global blockchain drive 🏎
It reported that e-commerce conglomerate Alibaba has 90 patent applications related to blockchain-related technologies, more than any other company globally 🗂 IBM and Mastercard came in at a close second and third-place, with 89 and 80 filings respectively.
Other notable companies on the list with at least 20 blockchain-related patents include People's Bank of China, Tencent, Accenture, Ping An Insurance, Bitmain, Intel, Visa, Sony, Google and China's State Grid Corporation 🏗
Set in motion
Ethereum has been added to Google's data analytics platform, Big Query ⚙️ The cloud platform will now pull data from the Ethereum ledger daily, storing the date-partitioned data for easier, cost-effective future exploration 🔍
Google revealed in its launch blog post that aggregated blockchain data is a big gap that needs to be filled, paving the way for important business decisions to be made, such as prioritizing improvements to blockchain architecture 🛠
Hit a pothole
Stellar technical advisor and Bitcoin Core contributor Jeremy Rubin made a prediction that ETH (the asset, not the network) will go to zero, on TechCrunch. His argument is that "economic abstraction", or paying for gas in a non-ETH asset would replace the need for ETH 🤔
Ethereum founder Vitalik Buterin responded on Reddit that ETH will not move to such a model, with EIPs that "enshrine the need to pay ETH at protocol level", meaning that ETH will have a fundamental place in the protocol; and other miners chiming in on the thread that it makes no sense for miners to accept other, possibly more illiquid tokens or assets 🐱 as compared to ETH 🌊
South Korea has begun a 6-month training course, a three-way partnership between the Ministry of Technology and ICT, the Korean Standards Associations (KSA) and Waltonchain (WTC), to train 42 selected applicants to become ready-for-hire blockchain specialists 🤓
Reeling from the storm
Economist/trader Alex Kruger lashes out at Bithumb about incentivized trading volume in a tweetstorm. Due to the 120% payback of trading fees in its current airdrop campaign, algorithms are trading KRW 278 billion (USD 250 million) daily at 11am KST to receive a total of KRW 1 billion (USD 90,000) daily in incentives since August 25 😐
Take the wheel
Former 2014 to 2016 Estonian prime minister, Taavi Rõivas, has signed on as an advisor to a medical blockchain startup, Lympo.
The Securities and Exchange Board of India (SEBI) has been sending its officials to overseas regulatory bodies in Japan, U.K. and Switzerland to "gain deeper understandings of the systems and mechanisms (of blockchain)."
Luigi de Magistris, the mayor of Naples in Italy, took to his Facebook page to pledge to launch an autonomous municipal cryptocurrency that he claims will will unshackle the city from "anti-southern discrimination" and "unfair debt".
What do you think about crypto reporting standards? And what's your all-time favorite meme of the amusing Shiba Inu? Woof! 🐶
What you said
"How much do you agree: We should get more mainstream musicians to sing/rap about crypto"
The average answer was 6.7. Seemingly mixed views from you guys 😐 I guess if blockchain were not presented in the right manner, it could damage its image... On the other hand, any publicity is good publicity even if it's bad publicity, as some of you say 👀
"Do you think having mainstream representation in music would be massive or misleading?"
53.3% voted "Massive for sure". 33.3% voted "Let's just not do this". 13.3% voted "Misleading af" 😅
Those who voted for it said it could help propel blockchain into mainstream culture/pop culture and it also could increase awareness among younger populations.Another said it could enable subliminal changes in one's perspective 🧠to take place.
Those who voted against it said it's not the medium to properly educate people 😨 One person also said no, because he just started to buy cryptocurrencies, and so wants it to be underpriced for awhile –haha, I see what you did there 😃 And then there was someone who said this is a world for financial investments, not musicians – ZING 💥
Our friend who wants to make rap about crypto and go viral – what are you waiting for? 😉
"Which artistes should we canvass, if we do want them to rep crypto?"
You people wanted Frank Sinatra – RIP ⚱️, DMC and Aerosmith – going old school there son, Drake – fun fact: Drake had at least one of his songs on the billboard top 100 at any given time in the last 10 years 😮, Taylor Swift – does this gel with her new image? 😆, Bieber – for being able drop turds but handle the backlash (hahaha), any DJ, Kanye – course we gotta get the Ye 🤙, and Donald Trump – just, lol 🍊
"Aaand, what are some of the ways you deal with stress?"
Taking a holistic approach to health 💓, appreciating things around you, taking deep breaths, laughing more, exercising and going for walks along the beach, indulging in hobbies like curling, movies or playing console games, reading, having a social life (lmao you guys), sleep...
Our favorite answers were the Wim Hof Method – I've read that this is extremely beneficial, gonna try it in the next few days 😎 and drinking a nice hot cup of tea with a joint, looking at the world – chill af, bruh.
"Bonus: Learn anything cool last weekend? Share!"
True to our theme, someone learnt that Eminem is still the best lyricist~ 🎤 One learned about the long list of partners that Ethereum has – the Enterprise Ethereum Alliance is definitely growing fast, coming a long way in the past year alone 🤝 Another learned how to add a DigiByte payment request URI to an app – whatchu building there? Sounds fun! 😎 One person finished reading "The future of humanity" by Michio Kaku – been on our list! Pal who OD'ed on Bacardi – hope you're okay now 😆
My favorite was: I learned that 'Craig is Satoshi' – best one I've heard all year, hahahahaha 🤣
See you tomorrow! 😍 our newsletter? Share with a friend! 😡 our newsletter? Spam your enemy!