“The mind is a flexible mirror; adjust it, to see a better world.”
- Amit Ray
Welcome back from your weekend, CMC family! I hope everyone had a splendid one and is raring to tackle this final week before Christmas. 💪 The festivities are just around the corner, and I'm sure we are all brimming with excitement in anticipation. 😁 Let's go!
Today in history (1989), the longest-running scripted primetime animated television series, 'The Simpsons', made its U.S. debut! It has since aired 30 seasons for a total of 649 episodes! 📺
In today's newsletter, we will be covering Coinbase's new crypto-Paypal gateway, the European Parliament new policy to increase blockchain adoption and crypto money app Revolut being granted a banking license from the European Central Bank.
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! 📚
Vapid vibes 😴
From a price action standpoint, it wasn't too exciting a weekend. The low volatility weekend saw total market capitalization falling to a weekend low of ~$100.5 billion on early Saturday, before quickly rallying back to ~$103.5 billion where it remained for the rest of Sunday. Total market capitalization currently stands at ~$103.6 billion, down ~$1.8 billion from Friday. Over the weekend, LTC also overtook BCH as the 7th largest coin by total market capitalization
Similarly, BTC traded within a tight 3% range of ~$3,200 to ~$3,300. It fell earlier on Friday to ~$3,210 before gradually recovering throughout Saturday to ~$3,300 where it remained for Sunday. At time of writing, BTC currently stands at ~$3,260, down ~1.7% from Friday. Over the weekend, we also saw some shorter wicks over and experienced volume levels, likely resulting from lower weekend trading interest. RSI levels on the daily chart continue to remain at ~30, as it has been in the past week further indicative of no particular build up in momentum in either direction. 💤
Growing gateways 🌉
Coinbase customers in the U.S. can now make withdrawals into their PayPal accounts immediately and without any fees. 😲 The new arrangement allows customers to quickly convert their cryptocurrency holdings to cash. 😁
This partnership provides Coinbase customers with an alternative to the traditional federal wire or automated clearing house (ACH) network that they were previously required to use.
Currently, the service is only available to U.S. customers. Support for PayPal withdrawals in other nations will continue to be added across 2019. Way to go Coinbase! 👌
Call to action 🗣️
The European Parliament (EP) has called for action to increase blockchain adoption in trade and businesses across the region. 🗣️ It recently adopted a new policy, “Blockchain: a forward-looking trade policy,” which lays out how the nascent technology could improve EU trade policies through mutual recognition agreements and free trade. 👍
The institution also stressed the need to develop “global interoperability standards” to facilitate transactions across blockchains for smoother supply chain processes. It called on the European Commission to track ongoing global supply chain pilot projects and draft rules for blockchain’s applicability to international trade. 🧐
Earlier this month, 7 southern European states – France, Italy, Spain, Malta, Cyprus, Portugal and Spain – signed a joint declaration to promote the use of blockchain in order to transform their economies.
Good to go 🚦
Crypto-friendly app money app Revolut has been granted a banking license from the European Central Bank that permits it to offer users an account to manage all their finances from a single place through its upcoming venture, "Revolut Bank". 🏦
Founded in 2015, Revolut launched a Bitcoin trading service in July 2017, after raising $66 million in a Series B funding round. Revolut boasts notable investors including Index Ventures (a backer of crypto startups BitPay and Xapo), as well as Balderton Capital and Ribbit Capital. 💪
Other news 📰
According to LinkedIn, the role of "blockchain developer" is the top of its emerging jobs list for 2018. 😲
Ethereum browser startup Status.IM has laid off 25% of its staff due to the downturn in cryptocurrency prices. 😔
Cosmetics chain Sephora has joined the list of retailers where shoppers can earn cash back, in the form of Bitcoin, through an app called Lolli. 🤑
Poll of the Day
On a scale of 1-10, how beneficial would the new Coinbase feature of enabling cash to be directly withdrawn into PayPal accounts be to you?💭
And...do you feel that you currently have sufficient fiat-crypto gateways available? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "If I were still a college student, I would choose to major in blockchain" 💭
The average vote was 8.5. The crowd has spoken. For those still in college, now would be a good time to make the switch. 😉
"Why or why not?"
You guys said:
I think blockchain is new innovative exciting system of the future and will prove itself in a short period of time. It would exciting to get in near the ground floor to initiate a career - It seems like it's a great time to get your hands wet now, right before it really takes off. 👍 Many businesses are starting to explore and integrate blockchain technology into their business solutions. I believe it is a very important FUTURE technology. - It has a high possibility of being so because of the inherent benefits that come along with using it. 😊 There will be a big demand of people knowledgable in Blockchain. also i think formal college education is not required to acquire the same. and blockchain is not merely computation knowledge, u got to know history, economics & all & a lot of common sense. - I think that to fully grasp and understand the crypto space requires a basic understanding of those mentioned fields of study, as with most other industries actually. 😂 Exciting. Emerging tech. - It's such a rapidly evolving space. It's almost a daily affair to hear news about the frontiers of the technology being pushed. Very exciting indeed. 👀 With practice I think it would be easier than a second language to me - Well, carry on! 👌🏻 Because of the opportunities to make a real difference in this world - Well said. Blockchain technology does bring about a variety of benefits such as increased efficiencies, accountability and lowered costs, all of which can be passed down to the end user for increased cost savings. 👍 It’s the way of the future - My crystal ball says so too... 🔮 Like programming was the next thing 20 years ago, Blockchain is that now (albeit programming centric). - I like to instead think of it as a strong healthy branch off of programming.
"Do you think that the crypto space needs an educational body that can grant formal accreditation of blockchain knowledge/ expertise?"
78.3% said "Yes".
21.7% said "No".
I do think that a formal accreditation can help the space progress because there will be more avenues in which companies looking for blockchain hires can recruit and receive a certain guarantee of the skillsets that come equipped with the hires. 🎓 It will also allow for more rigorous and formalized research into the technology. 🤓
"What do you have planned for the weekend?"
Getting ready for Christmas. Guests arriving this week so lots to do - Hope it was an awesome party! 😀 Sunday watching AJAX Amsterdam soccer match - 8-0...Wow. 😲 Rest - Lazy weekends. Everyone needs one every now and then. 😴 We are planning making ice cream & Christmas cake at home. - You're making me hungry just thinking about those foods. 😋 I am scheduled to work this weekend - Tough luck. I hope you didn't miss out on too much! 🤞 Preparing to leave for vacation - Hope you're having a great time wherever you are! Make goals and accomplish them. - This a Rollie, not a stopwatch, shit don't ever stop~ ⌚ Xmas Party. - Partayyy 🎉 Clean my garden. Buy Christmas tree and pressies - Necessary preparations for the best time of the year! 🎄
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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