"“The power of visibility can never be underestimated.”
- Margaret Cho
Congratulations, we are halfway through the week everybody! Bad news is that the crypto markets are once again, getting rekt. Try to keep your hopes up and focus on the bigger picture! Personally, I'm HODL-ing up! 🌱
Today, we will be covering rumors on a new crypto prediction tool by Nasdaq, China's new action plan to improve its charity tracking systems using the blockchain and the IMF speaking out against the Marshall Islands' digital currency plans, and a new stablecoin created by the Winklevoss twins. Enjoy the newsletter! 📚
Bumpy road ahead
It's yet another rough day for the crypto community. Total market capitalization lost another ~$10 billion today, bringing the total to ~$186 billion. We are currently sitting at the 2018 all time low, and by now the crypto market has essentially lost most of what it gained from the bull run of last year's end. 😢
Although BTC hardly budged today (~-0.43% to $6,290), most cryptocurrencies saw losses to the tune of ~6-12%. On a similar note, BTC dominance is now at a yearly high at ~58%, and ETH dominance at a yearly low at ~9.4% as investors are re-balancing their portfolios to include a higher BTC weightage during this stubborn downturn. In the last week alone, ETH has dropped ~40% in price - the last time ETH was at these levels was May last year! 😲
New word on the street is that the Nasdaq is building a tool to predict the price movements of crypto assets. It will parse through social media and other alternative data sources like funds flow from wallets and exchanges data, to provide sentiment on some 500 crypto assets. 🔮
The tool, which will function on machine learning and natural language processing (NLP) capabilities, will be made available in their Analytics Hub.
China's Ministry of Civil Affairs recently released its 2018-2022 action plan outlining several areas in which it aims to use internet technologies to improve transparency and visibility surrounding social service activities. 👁️
In the plan, the ministry will decide upon a blockchain solution to be used to upgrade the current charity tracking system by the end of 2018, with completion of the project planned by 2020. ✔️
Obstacles ahead spotted
The International Monetary Fund (IMF) recently published a paper advising against the Republic of the Marshall Islands' plan to introduce a "Sovereign" cryptocurrency as a second legal tender alongside the U.S. dollar. ⚔️
The IMF believes that the Marshall Islands' currency economy is highly dependent on external aid due to the constant climate change and natural disasters. The islands' only domestic commercial bank is also risks losing its last correspondent banking relationship (CBR) with a U.S.-based bank with the move, due to tightening due diligence across U.S. financial institutions. 🛑
Ripple's former general counsel, Brynly Llyr (who left just last Friday), is now taking up the same position in a crypto payments startup called Celo. 💨
French soccer club, Paris Saint-Germain (PSG), will partner with blockchain company Socios.com, to launch its own cryptocurrency to incentivize its supporters over a blockchain. The token will alllow fans to vote on decisions like choosing the club's jersey colorway, stadium music, MVP and more. 🤝
On OKCoin founder Star Xu's recent trip to Shanghai, he was confronted by several unhappy investors of the OKEx's site accusing him of manipulating bitcoin futures, and was forced to call the police. Both parties were brought to the police station for questioning and preliminary investigation. Star was released after 24 hours. 👮
Poll of the Day
How much do you agree: "The next crypto bull run will begin by the end of 2018" 😊
And...What do you think is the strongest reason preventing more money from entering the space right now? Also, what do you think will be the catalyst to the next crypto bull run? 🤔
What you said
"How much do you agree: "I live to eat, rather than I eat to live"
The average was 5.7. The responses seem to suggest that about half of y'all are foodies, and the other half are functional eaters! 😆
"If you could only eat one of these cuisines for the rest of your life, which would it be?"
41.7% voted "Italian."
16.7% voted "Japanese."
8.3% voted "American."
8.3% voted "British."
8.3% voted "Chinese."
0% voted "French."
0% voted "Korean."
16.7% voted "Other."
Anddd the overwhelming favorite is Italian! The pizza, pasta, coffee, risotto, gelato, tiramisu...Just thinking of these foods is whetting my appetite! 😋
"What is your favorite cuisine, and why?"
American. Much variation. - True!
Chinese. Tasty & healthy. - There is great variety in Chinese cuisine too!
Asian. The flavors, variety, and the exotic-ness of it. - Eating Asian food is like eating a flavor bomb. All sorts of flavors with each bite!
Anything with truffle. - Bougieee 💸
I've recently returned from a Scandinavian trip and should say that Finnish cuisine is really great. If you don't like fish, go to Finland, and you'll change your mind 🙂 - Wow, thank you for the tip! 👍
Indian, because of the variety of dishes and flavours available. Shit i already got my mouth wattery. 😋 - Did you know, 'Chicken Tikka Masala' is a dish that was actually invented by the British! 💂
Mediterranean - Fresh ingredients. - Yummyyy.
Have none, its just fuel. - We have a functional eater here! 🤣
"What is the best restaurant you've patronized? How was your experience?"
You guys said:
Kim fa. (West Bengal, India)
Tatu at the Hard rock Seminole in Miami, FL. The day I discovered that you just have to pay a premium for certain things. (Florida, USA)
Bindella Zurich (Zurich, Switzerland)
House of Kwong. Long out of business. Excellent all around. (Los Angeles, USA)
Very hard to say, there are so many. If you ever come to Kazan in Russia, be sure to visit the Georgian restaurant called Matsoni, I've been to that city yesterday, and the restaurant's really amazing 🙂 (Kazan, Russia)
Cafe Rouge. Best service. (Costa Mesa, California, USA)
Indian Ocean, Ashton under Lyne, UK. Top chefs and has won lots of awards. The Chicken Tikka is amazeballs. (Ashton under Lyne, UK)
Wow, thank you all for sharing. These places will definitely be on my bucket list! 🗸
Thank you for reading. See you all tomorrow!! 💙💙💙
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