Daily Email Archive

Cheek to cheek

Your daily newsletter for December 21, 2018
“Happiness is not something you postpone for the future; it is something you design for the present.
- Jim Rohn
The Christmas weekend is here! 🎄 Go and fully enjoy your well deserved break, but first don't forget to read today's newsletter. 😂 For those of you who aren't following Coinbase's 12 Days of Coinbase (announcements), today they announced that Coinbase will be available to the following regions: Andorra, Gibraltar, Guernsey, Iceland, Isle of Man and Lithuania! 

Today in history (1998), the first vaccine for Lyme disease, "LYMERix" developed by SmithKline Beecham, was approved and licensed. 💊

In today's newsletter, we will be covering 2 members of the U.S. House of Representatives filing a bill to exempt digital tokens from Securities Laws, cybersecurity firm McAfee reporting exorbitant growth in crypto-mining malware and Ecommerce firm Qoo10 to launch a blockchain-based Ecommerce platform built on the Ethereum protocol.

Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚

A pleasant surprise 😊
It looks like Christmas came early. 🎁

Total market capitalization is up ~$10.4 billion for the day and currently stands at ~$133.5 billion, with most coins are seeing gains in the ~5-15% range. In the past 3 days, BTC dominance dropped from ~55% to ~53.4%, reflective once again of the higher volatility, or beta of most of the altcoins (vs BTC). Notable movers of the day are BCH, BSV, DASH, each up ~53.7%~37.7% and ~21% respectively. 📈

What is beta?
Beta is a relative measure of the volatility, or systematic risk of an asset. It is a The higher the beta, the more the perceived risk. 🤓 It is a tool commonly used in traditional finance. In our case, the beta of a particular coin can indicate whether it is more or less volatile than BTC! 

At time of writing, BTC is up ~7.75% for the day and is currently trading at ~$4,080. Earlier on in the day, it even reached a peak of ~$4,200. It is trading above its 21-day EMA line and is close to testing the 50-day EMA line. On the daily chart, BTC's RSI levels have increased again from ~45 to ~53 from the added momentum, but BTC is also trading near its upper Bollinger band, which might serve as some resistance. 

This mini bull run is good and all, but we aren't quite out of the dangerous waters just yet as we are still in a strong overall bearish market. BTC is currently testing this moderately strong ~$4,000 to ~$4,200 resistance zone, but if it manages to clear this level, we could further see a fairly quick run up to the ~$5,000 levels. 🙏🏻

Paving the way 🚧
2 members of the U.S. House of Representatives, Representatives Warren Davidson and Darren Soto, have submitted a bill called the “Token Taxonomy Act” that seeks to exclude “digital tokens” from being defined as securities, amending both the Securities Act of 1933 and the Securities Exchange Act of 1934. 👍

Notably, the bill defines a digital token as “is not a representation of a financial interest in a company, including an ownership or debt interest or revenue share.” 👀 It also includes other crypto-friendly measures on the tax implications of buying, selling or using cryptocurrencies, such as the exclusion of up to $600 from gross income with respect to a sale/ exchange of virtual currency. 

Davidson stated that the bill "will provide the certainty American markets need to compete with Singapore, Switzerland, and others who are aggressively growing their blockchain economies.” Somebody give these guys a medal! 😊

Beware, malware 🛑
According to research from U.S.-based cybersecurity firm McAfee, instances of crypto-mining malware have increased by 4,467% this year. 😲

A recent report revealed that the number of malicious crypto-miners grew nearly 55% in Q3 of 2018 alone, coming out to 4 million new mining malware instances in that period. New malware targeting IOT devices also saw a 72% increase and total IoT-targeting malware doubled in the last four quarters. 👿

It went on to add that many are switching to cryptomining as it is a lucrative business model. Cybercriminals are benefiting from volume over CPU speed by targeting IoT devices such as IP cameras or videorecorders instead of desktops or laptop computers due to their lack of security controls. 🤔

Inevitable transitions 🤷
Ecommerce firm Qoo10 is set to launch a blockchain-based online marketplace built on the Ethereum protocol. 🤖 Known as QuuBe, the blockchain-based marketplace comes with a cryptocurrency of its own dubbed the "Q*coin".

The platform has removed the 10% merchant fee as well as the payment gateway fees which are charged by traditional marketplaces, due to blockchain technology reducing administrative costs as the verification of transactions is done using smart contracts. 👌🏻

Qoo10 currently boasts of 6 million daily active users who are mostly in Hong Kong, China, Malaysia and Indonesia, along with a catalog of about 400,000 products. 😲

Crypto deep dive: 0x
  • Cryptocurrency: ZRX
  • Market Capitalization Rank: 31st (~$188 million)
  • Consensus: Proof of Work (PoW)
The gist of it ⚙️
  • 0x is an open-source infrastructure protocol that facilitates the peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. 
  • 0x is a token swapping protocol, and is a universal shared order book. It is also a protocol to build decentralized crypto exchanges.
  • It seeks to drive interoperability within the blockchain ecosystem through its off-chain order broadcasting, shared liquidity pools and order matching.
Why people love it 😘
  • 0x has a strong team with great background experience. Its team members have previously worked in Google, Apple, Twitter, Facebook, LinkedIn, Dropbox, Yelp. 0x also has a strong advisory board including co-founder of Coinbase and Polychain, Co-CIO of Pantera Capital and the former COO of PayPal. 
  • 0x is known for heavily focusing on their tech with minimal marketing, unlike many other coins. They are using the funds they raised in their ICO in a responsible manner. 
  • Their protocol is one of the more utilized ones in the spaces. This has garnered recognition and eventual partnerships with firms like Coinbase.
Why people doubt it 🤔
  • The success of 0x is dependent on and limited by the success of Ethereum as a token platform. With more infrastructure coins coming to market, the slice of 0x's pie may decrease as a result.
  • Some may argue that they may be placing too little emphasis on marketing, which could result in a sub-optimal rate of adoption. 
Other news 📰
  • PayPal co-founder and venture capitalist Peter Thiel has backed a $2.1 million seed round of crypto startup and investment and engineering infrastructure platform, Layer 1. The round also saw the likes of Digital Currency Group and institutional investor Jeffrey Tarrant investing. 💰
  • TokenSoft has partnered with Coinbase to provide an alternative custody solution for STO clients: STO issuers can now choose between self-custody through its platform or third-party solutions, including Coinbase Custody. 🤝
  • It has been reported that additional staff cuts are impending at Ethereum studio, Consensy, which could see ~50% of its 1,200 workforce being let go. 😔
Poll of the Day
On a scale of 1-10 (10 being most confident), how confident are you that all your devices are free of any crypto malware? 💭
And...what are some of the measures you take to prevent crypto malware from infecting your devices? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being most keen), how keen are you on Coinbase's "Coinbase Earn" program where you can earn cryptocurrencies for learning about them." 💭

The average vote was 8.5. It's such a win-win situation. What better way to learn about cryptocurrencies? Brilliant! 😀

"Why do you say so?"

You guys said:

Learn and earn - That's the name of the game! 😉
It’s nice to learn getting free tokens is always a bonus, maybe I’ll keep them forever and give them to my sisters kids in 10 years 🗝🧸🦴 - A true hodl-er! That would be such an awesome present. You can also tell them something inspirational then when the price has exponentially appreciated that you believed in something at a time when the majority of the world didn't. 😂
I went through it yesterday, and got Tokens 🙂 - You're quick on yo feet homie! ⚡
From learning point of view it's good. there is a good chance of biased view. also there are already resource available if u want to read on a particular coin, don't know what new stuff they will be offering. the earn original concept was fantastic, don't know why they stopped it after acquiring.. - You have a valid point about the possibility of biased content. However, we shouldn't discount the fact that it is still a great way for beginners to get started in the space - an impetus of sorts to get them started on their crypto journeys. Following which, they will have some baseline knowledge and confidence, and be able to acquire more information on their own to discern if the particular coin is right for them. 👌🏻
Earning to get knowledge? What could go wrong! - No harm signing up I'd say! ✍️
I have been studying on my own for 1.5 years. It is time for a structured course. - Nothing beats discovering things on your own. However, sometimes people need a little push.  
Good way to learn something New about coins. And earn a Little bit with it.
So long as it does not get complicated,its a winner
- Agreed! 
Always good when you can get extra coin - Acquire bigger bags. 💰
I have a feeling the earnings or rewards too small to spend time. Not a fan of coinbase. Using them due to need. - Needless to say it would not be a sizable amount. However, it is still a bonus to learn! I wish I was paid to learn when I was in college. 😂
Really clever idea! - I concur! 🤓
Education is the key to adoption - Well said. The more avenues where people can learn about crypto, the greater the overall adoption rate, which is key for this space to flourish.  
It's free. I'm learning from all mediums. I may as well give it a go on Coinbase too. - Def no harm in exploring this. 
I myself very keen to sign-up. I don't understand much about Blockchain Technology. - Not to worry, we all have to start somewhere! Continue to stay tuned to this daily newsletter and I will bring you up to speed in no time. 👍
I’m willing to earn to learn but it appears I didn’t get an invite. I’m trying to find the waitlist right now. - It's definitely in high demand, so you're not alone there. As for locating the waitlist, google "Coinbase Earn". It should appear on one of the top search results. The sign up bottom is at the bottom of the page! 👌🏻
I think one of the biggest barriers for blockchain is lack of trust that comes from lack of understanding. - You're totally right on this. That's why initiatives like these are great to help educate the masses on cryptocurrencies as a whole and the benefits it can bring to societies. 

"Are you an overall fan of Coinbase?"

78.1% voted "Yes".
21.9% voted "No".

"Why or why not?"

You guys said:

Ease of use - It is very user friendly.
Double edged sword ⚔️ I’ve been meaning to see what other alternative look like 👀 🔎💸 - A great way to start would be the other top exchanges by volume. For example, Binance has a great user interface IMO. 
It brings project to notice & helps in increasing the market cap of the projects. - Coinbase definitely has a strong influence in the space. It can provide great exposure to projects by listing them on its platform. 
TOO long to clear USD deposits. - It's always a sticky situation when dealing with fiat-crypto and even more so for crypto-fiat. Hopefully, this will improve in the future. Many companies are working to improve upon this so I am confident it will get better. 
It seems like a fairly simple exchange ,but not simple enough in my view. We (customers) should have an option of having a coinbase person conduct or trade for us (at an extra cost of course). Coinbase should offer service identical to ie;TDAmeritrade. - They might have that service for their institutional clients. On the same note, wouldn't it better to trade on your own? 
It was my first exchange and has served me well - Glad it helped you get started in the space!
I'm not a fan, but it was my first exchange of cryptos and that is never forgotten ... like the first Atari console that my father gave me in 1985. - Great analogy. 😂 Sounds like it served its purpose to you. Hopefully it continues to do the same for many more others going forward. 
Expensive and time consuming when trying to move currency. Wait time is 7 days. - It does have relatively higher fees. It seems you are paying for the ease of use and sleek user interface. 💸
It's actually one of the only accepted & trusted exchanges for US citizens. In some respects Coinbase appears to have--especially over the past 18 months--a monopoly on US Crypto customers. - I don't think that they necessarily have a monopoly. They do have a substantial market share though, as it has a friendly user interface which most newbies tend to gravitate towards. However, there are several other great exchange options for US customers!
Coinbase has very few token selections and other exchanges appear to be better. - Agree that they could improve on the token support. However, they are definitely working towards this. Check out the list of tokens Coinbase Custody is exploring! 👀
Great information - Thank you! I aim to please. Do continue to support! 🙌

Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
See you next week!
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