“He who knows when he can fight and when he cannot, will be victorious.”
- Sun Tzu
Ladies and gents, we have made it to the middle of the week. Let's continue to press on! 💪 Today in history (1814), the Times of London was first printed by automatic steam powered presses, such that newspapers could be made available to a mass audience. 🗞️
In today's newsletter, we will be covering Nasdaq possibly launching BTC futures contracts in Q1 2019,blockchain payment netting service built by CLS and IBM going live and a new Singapore bill that will impact electronic wallets and digital payment tokens.
Enjoy today's newsletter, and please don't forget to answer the polls down below too! It's a great way for us to interact with you, and it's always nice hearing your thoughts. 💭 Happy reading! 📚
Bounce back ⛹️
In the past 24 hours, the crypto market experienced a sizable recovery with total market capitalization bouncing back from ~$123 billion to ~$130 billion. 😀 Most cryptocurrencies are seeing gains in the ~5-12% range for the day. Not too shabby! 👍
With a ~8.1% gain for the day, BTC is back above $4,000 and is currently trading at ~$4,020. This bounce back has given BTC some bullish momentum, evidenced by the daily RSI increasing from ~16 to ~24 - BTC is still within the oversold zone, but this is a good start. 👌 MACD indicators on the daily chart are also signalling for slowed bearish momentum in the coming days. Hopefully, we can soon see BTC breaking out of its 15-day streak below its 21-day EMA line on its daily chart. 🙏🏻
Been expecting you 👐
According to Bloomberg, U.S. stock exchange operator Nasdaq is about to list its own BTC futures contract in Q1 2019, and is currently working through regulatory issues with the Commodity Futures Trading Commission (CFTC) to become a compliant cryptocurrency futures market operator. 💪
These Nasdaq contracts are reported to be based on BTC’s spot price on “numerous” exchanges, put together by New York-based investment management firm VanEck. 🤖
Nasdaq's partnership with VanEck was revealed by VanEck's director of digital strategy, Gabor Gurbacs, during the recent CoinDesk’s Consensus: Invest conference. 🤝 He announced their plans to “bring a regulated crypto 2.0 futures-type contract” to market, a first of several such products they intend to host. 😲
One of many transitions 😊
The U.S. foreign exchange trading utility CLS' blockchain payment netting service that was built together with IBM, CLSNet, is now live. 🥂 Goldman Sachs and Morgan Stanley are already using the new service platform, with several other parties from North America, Europe and Asia, also committed to joining in the upcoming months. 😲
CLSNet is the “first global FX market enterprise application running on blockchain.” It will standardize and automate the payment netting process, thus leading to improved intraday liquidity, reduced costs and improved operational efficiencies. 🤖
New warden 👀
A new bill that will impact electronic wallets and digital payment tokens such as BTC has been tabled in Singapore's parliament. 👁️
The "Payment Services Bill" will place payment service providers previously not under the regulatory oversight of the Money-Changing and Remittance Businesses Act and the Payment Systems Oversight Act, to be under the oversight of the Singapore's central bank, the Monetary Authority of Singapore (MAS). 👮
This bill comes in response to the growing usage of cryptocurrencies in the country, and the inability of existing legislation granting adequate coverage to them. 💭
Other news 📰
One of the oldest luxury jewelry retailers in Canada, Birks Group, is now accepting Bitcoin payments at 8 of its stores. 🙌
An open-sourced version of the U.S. SEC's EDGAR database, Messari, is launching a disclosure registry for token-issuing projects to publicly share information such as token design, supply details, any audits of the technology, official communication channels, treasury management and details of team members. 👍
Blockchain startup, Harbor, has launched its security token compliance platform and is seeks to offer digitized shares in a high-rise building located in South Carolina called "The Hub at Columbia." The 955 shares are each represented by one token and available at a $21,000 apiece. 🏠
Poll of the Day
On a scale of 1-10, how keen are you on trading cryptocurrency derivatives in the future? 💭
And...why do you think the introduction of derivatives such as BTC futures contracts by large financial bodies like Nasdaq and Bakkt are important to the crypto space? Share with me in the polls! 😆
What you said
"On a scale of 1-10, how likely are you to root for an underdog? (e.g. sports, e-sports, movies etc)"
The average vote was 6.9. There is just something about rooting for the underdog. It's an appealing narrative! 👂
"Do you tend to perform better as an underdog? Why or why not?"
You guys said:
When one does not have much pressure we do tend to perform better. - True. Having to deal with less pressure can help to ease nerves and thus go through motions more fluidly. 👌 Yes -- focus/increased effort - There is much to prove when you're the underdog. This can contribute to higher levels of determination. 💪
Most times i am the underdog which is perfect!! i perform great under pressure.The look on the loser face is always priceless!! - Silence the haters! 🤫 No, crappie self worth. - Don't say that... You're better than you think you are! 😊 No pressure on me - Always a great place/ zone to be in. 👌 Yes. Because of the challenge - Proving people wrong is one of the greatest pleasures of life. 🤗
"Tell me about a time you were an underdog, but somehow managed to overcome the odds."
You guys said:
Lot of everyday situations where u do not have any experience. But u do do better than other guys around you. Because u start fresh & do things very differently from others. - Interesting point, but I can't agree any less. Sometimes a fresh perspective can be so so beneficial. 👀 No golf tournament I ever won was I supposed to win given I wasn't a "name" anyone recognized that "should" win. I refuse to accept the standard. - You sure did show em! 💪 When i was homeless 2yrs ago and sleeping in my car at a Walmart parking lot in GA. I'm now a Real Estate Investor wholesailing properties and flipping away. - That is so inspiring. It really goes to show that when there is a will, there will always be a way. Keep it up! 🦁 School sports day long distance cross country finisher in top 3 of the school 3 consecutive years. Best position 2nd. - Your consistency is impressive! 💪
Thank you all for reading thus far! Catch you back here again tomorrow! 💙
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