By the horns

Your daily newsletter for October 19, 2018
Opportunistic
“Opportunity does not waste time with those who are unprepared.”
- Idowu Koyenikan
Friday is here, folks! Cheers to the weekend! 🥂 It's yet another week down, so give yourselves a pat on the back. Also today, Evander Holyfield 🥊, the ex professional boxer who once was the Undisputed World Champion in both the cruiserweight and heavyweight divisions, and perhaps more famously known for having part of his ear bit off in a 1997 bout with Mike Tyson, turns 55! 👂

In today's newsletter, we will be covering a new major shareholder in the South Korean cryptocurrency exchange Bithumb, Coinbase Pro's latest and first ERC-20 listing and crypto and stock trading app Robinhood is now live in a new U.S. state. Today, we are also covering Tron (TRX) in our weekly deep dive! 

Hope you enjoy today's newsletter, and don't forget to answer the polls down below too! Happy reading! 📚
Looking for signs
It has been a minor red day in the crypto sphere. Total market capitalization is slightly down from yesterday and is currently at ~$208 billion. This is the first day the total market capitalization has budged after being at ~$211 billion for 3 consecutive days. Most cryptocurrencies saw either gains or losses in the ~1-4% range.

Similarly, BTC registered a slight loss, and is down ~1.03% and currently trading at ~$6,470. For the most part of yesterday, it hovered between ~$6,550 and ~$6,450. BTC is still trading between the 50 and 100-day EMA lines, but with dropping RSI levels over the past few days from 58 to 50, and MACD signaling the end of this short upswing, we may soon see BTC breaking below the 50-day EMA support line it is currently challenging. 

On a more positive note, BTC is currently trading above the triangle pattern it was trading within since mid Feb this year. Could it be time to accumulate? 🤔

When one door closes, another one opens
Unfavorable regulatory conditions in India resulting in the prohibiting of financial institutions from offering banking services to crypto businesses has caused one of the country's biggest cryptocurrency exchanges with approximately 3 million users, Zebpay, to shut down its operations there and move to Malta. 👋

Zebpay has registered an office on the 'blockchain island' and seeks to serve not only its local community but also several other European countries. Some of the 20 countries eligible to use Zebpay's services include Malta, France, Germany, Italy, the Netherlands, Ireland, Sweden and Denmark. 😄

Seize opportunities
Decentralized entertainment content-sharing platform, Tron (TRX), will be collaborating with China's largest Internet search provider, Baidu, on cloud computing resources. 🤝

According to a Chinese local news source, ODaily, Tron and Baidu cloud have closed a "basic cloud business" deal that will see both parties working together to maximize inter-compatibility and “to build, operate and debug blockchain products” based on the Baidu Cloud. 🤖 However, it has to be noted that the nature of the partnership is primarily focused on the provision of Baidu's basic cloud computing resources to Tron, rather than a deeper blockchain partnership. 🧐

According to a recent tweet by the Tron Foundation, it stated that it wanted to work with large cloud service providers to "offer blockchain solutions" and to "make the technology more accessible for users and small business alike." 💪

Take out the cheque books
The U.S. Marshals have announced a plan to auction off nearly $4.3 million worth of BTC on 5 Nov in a sealed bid auction. ✋ The approximately 660 BTC was collected from federal criminal, civil and administrative cases. 

The 660 BTC will be auctioned off in 6 blocks of 100 BTC followed by one final block for the 60 remaining BTC. 💰 Wanting bidders would first have to deposit $200,000 as part of the registration process, and they will not be able to view the bids of others or change their bids once they have submitted them. 🤔

A portion of the BTC that will be auctioned off comes from the U.S government's lawsuits against BTC traders Theresa Tetley and Thomas Mario Costanzo who have both been sentenced to jail for BTC money laundering. 🙈

Other news
  • A new Amended Consolidated Class Action Complaint has been initiated to consolidate all of the lawsuits, citing no less than 22 various legal violations, previously filed against the allegedly fraudulent cryptocurrency, BitConnect. 👨‍⚖️
  • The Tax Commission of Japan that guides policy on taxation held a general assembly meeting on 17 Oct, and revealed that it is planning a new taxation system to standardize the tax filing process for taxpayers to calculate their digital assets profits against both fiat currencies and other cryptocurrencies. 💸
  • Global management consulting firm, Accenture, and a fintech subsidiary of Thailand's Slam Commercial Bank, Digital Ventures, are collaborating to develop a blockchain solution that will streamline commercial operations such as making/ receiving payments and accessing finance in Thailand, using R3's Corda blockchain protocol. 🤖
Crypto deep dive: Tron
  • Cryptocurrency: TRX
  • Market Capitalization Rank: 11th
  • Consensus Algorithm: Proof-of-Stake (PoS) - several voted nodes deployed by global users themselves, cooperate to accomplish consensus calculations. 
How it happened ⚙️
  • Tron was established in September 2017 by its current CEO Justin Sun. It seeks to be a decentralized entertainment content-sharing platform where anyone can host content on its blockchain and get paid for it directly from the audience, essentially cutting out the middlemen.
Why people love it 😘
  • Content producers can create free and uncontrolled content, without restrictions on characters, images, audio or video can be created on the TRX blockchain. 
  • Since the TRX blockchain is essentially a network of peers between content creators and consumers without the middleman, content creators are empowered and more incentivized to produce better content. 
  • Strong Chinese backing. Some backers include Bitmain, CEO of Kuaidi Dache Weixing Chen, Chair of Lifan Industry Yin Minshan and CEO of Ofo Wei Dai. 
  • Tron recently acquired the file sharing software provide BitTorrent for $140 million, effectively boosting their user base by 100 million users. 
Why people doubt it 🤔
  • Tron was criticized for plagiarizing the Filecoin and IFPS whitepapers for its own whitepaper. Sun attributed the lack of citation to translation issues from volunteers. This set TRX off on the wrong foot. 
  • Tron has been known to be huge on marketing. While this has been good at creating awareness, some argue it's to the point where it's over-marketed. 
  • Although the number of TRX addresses has been increasing, the number of transactions on the TRX blockchain has been decreasing. This could signal that people are using TRX tokens more as a speculative tool rather than to help run the TRX blockchain.
Poll of the Day
How much do you agree with this statement: "I tend to learn more from defeats than from victories" 🤓
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And...tell me about a time a defeat taught you a valuable lesson. Also, do you have anything interesting planned for the weekend? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "Second place is the first loser"

The average vote was 5.3. Pretty much split down the line for this one.  😀
"Why?"

You guys said:
Sometimes an early second is better than coming first. - That loss would really hurt though. So close yet so far. 🙁
It’s just a saying, I’m sure it had a counter, squeaky wheel, nail that sticks out gets hammered. - Another one would be: "The early bird catches the worm, but the second mouse gets the cheese." 😂
Either you win or you lose there is no middle ground here. - Losing ain't an option for you, huh? 😎
Was it in Rocky? Only First place matters, 2nd and 3rd sucks! 😀 - One of my all-time favorites.
totally disagree.. u are also a winner... - Some good can come out from losing too! You learn a lot about what you need to change in order to improve and elevate! 😊
Because you lose before you win - Sounds like a revival/ rebirth of sorts 😂

"Tell me about a time you got first place for something."

You guys said:
Just a shelf of participation trophies 😜- At least you were there to experience the competition. Some aren't even brave enough to step up to the plate. 👍
I'm extremely competitive and not a good loser at all. Recently went Carting with my work colleges. There was around 20 of us. It was a full day of racing and each race you would move 1 position further back as your start point. I got to where I was starting last (10th) and still managed to finish 1st. As a side note it wouldnt have looked good had I finished last as I am a motorbike rider and turned up with my own gear. Valentino Rossi Helmet and gloves and one piece leather racing suit. - Damn, you sure know how to bring the competition! 😎
Singing "Yesterday" by The Beatles in High School! Here we go baby! Yesterday, all my ... 😉 - All day! 😂
still waiting for the moment.. - One day, homie.. one day!
New Orleans - French regional Championship - 1984 - Must be a memory you hold dearly. 👍

Thank you all for reading! See you back here again next week!💙💙💙
See you on Monday!
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