“Gratitude is not only the greatest of all virtues, but the parent of all others.”
- Marcus Tullius Cicero
Happy Boxing Day folks! I hope you all had a warm and merry Christmas day yesterday. 🎄 Today in history (1991), the Soviet Union's first and last executive president, Mikhail Gorbachev, resigned which marked the official dissolution of the Soviet Union.
In today's newsletter, we will be covering Bank of America's new patent application for a blockchain cash handling system, GMO Internet Group to no longer develop and sell mining hardware and the Tron (TRX) protocol achieving over 1 million user accounts.
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! 📚
Quiet Christmas 😴
On Christmas day, markets recovered slightly and we saw total market capitalization rise from ~$129.2 billion to ~$132.6 billion, with most coins seeing gains in the ~1-4% range. 📈
BTC traded within a tight ~$100 range of ~$3,760 to ~$3,860 for the most part, before a late run up to ~$3,885 where it remains to the trading at for a ~0.5% gain for the day, at time of writing. 👀 BTC is currently trading above its 21-day EMA line on the daily chart, but the upward momentum it is has built over the past mini bull run has slightly dissipated, evidenced by the held ~50s RSI levels in the past few days after BTC failed to break past the moderate ~$4,000 to ~$4,200 resistance zone.
According to a new patent application submitted on 25 Dec, Bank of America (BoA) wants to patent a system using blockchain technology to improve cash handling. 📝
In the application, BoA explains that there exists communication difficulties in aspects of cash handling duties across banks’ huge operations, and suggests blockchain could help mitigate them. It states that it is currently difficult to integrate cash handling devices with the "technical infrastructure that supports banking operations and other operations while also optimizing the efficient and effective technical operations of the cash handling devices and various related computer systems.”
It goes on to explain how through blockchain technology integration, "deploying, configuring, and utilizing cash handling devices to provide dynamic and adaptable operating functions" becomes a possibility. 🤖
Cyclical adjusting ⚙️
According to a public document, Japanese internet company GMO Internet Group will “no longer develop, manufacture and sell” mining hardware, and has recorded an “extraordinary loss” in Q4 2018. 💸
The document covers how the current mining hardware business environment has become "increasingly competitive due to the decreased demand due to the decline in crypto prices". As a result, GMO Internet deemed that it would be "difficult to recover the cryptocurrency-mining-business-related assets through selling mining machines" and therefore decided to record an extraordinary loss. 😔
However, as for its in-house business, GMO Internet will "review the revenue structure" and "continue running mining operations" in a region that will allow them to secure cleaner and less expensive power supply.
Million milestone ✅
According to the explorer page of Tron (TRX), the protocol now has over 1 million user accounts. 👆
Misha Lederman, cofounder of Tron's spin-off project, IAmDecentralized.org, took to twitter to confirm the news. She commented on the address milestone, and also suggested at the speed at which it was done - "#TRON reached 1 million accounts on Dec 23, in 184 days or 6 months since #TRX Mainnet Launch. In comparison, #Ethereum reached 1 million accounts on Jan 22, in 542 days or 18 months since #ETH Mainnet Launch." 📢
Responses from the tweet highlighted that Ethereum achieved the same milestone at a time when cryptocurrency interest was marginal compared to current conditions.
Other news 📰
A bill has been passed by U.S. regulators, called the “Blocking Iran Illicit Finance Act”, that threatens Iran with sanctions in response its plans to develop its own national cryptocurrency. 📜
CoinVantage and Picks & Shovels are merging to become "Interchange", which seeks to make crypto-asset management easier for institutional players. 👬
As of 23 Dec, node channels that support the Bitcoin Lighting scaling protocol were able to facilitate a capacity of 496.8 BTC. 💪
Poll of the Day
On a scale of 1-10 (10 being maximum enjoyment), how much did you enjoy your Christmas?💭
And...are you already looking forward to the new year? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being maximum enjoyment), how much do you enjoy Christmas?" 💭
The average vote was 7.3. There are several grinches among us. 🤣
You guys said:
It is cold outside but warm in everyones heart - Christmas ain't just a day, it's a feeling. 🧡 WHY all people are good - People are especially warm on Christmas. Every day should be like this. 👍 Very sad about the dropping - We can't always go up! We had a decent run in the past week, but failed to see BTC breaking past the $4,000 to $4,200 resistance zone. Hopefully, it will be able to go through it the next time it challenges it. 🙏🏻 Winter, warm food, family get together & all.. - A cure for almost anything. 💊 I do feel a bit of that magic, but my wife loves Christmas so much making sure it’s a magical wonderland for her make me happy and enjoy it more 🎅 🌲 ✨❄️⛄️ - Aww, that's really sweet! She's lucky to have a guy like ya. 💕 Seeing and spending time with all my grandchildren balanced against all the work involved! - They must be the apples of your eye! 👀 The happiness my wife and I get from our children! - Give em everything! 👐 I love Christmas !!! - Can't find a reason to hate it. Although there are grinches hahaha. 😂 ... too many family members - Hmm, I can relate to this. My extended family is pretty big too and at times it can get a little overwhelming. 🤔 The interaction with family and friends is great during this time. - Nevertheless, I still need to go to work. - Well, you're not alone on that front!
I, too, have been pretty busy preparing this newsletter, among other things! 💪
Other than just opening gifts, my family would just sit around the house and eat. I’m also factoring in that these last few years, I’ve been spending the holiday alone. - If I may, perhaps allocating these moments of solitude towards some serious reflection, as well as an overview on every thing that's happened this year (the good/bad moments, the lessons learnt through every dip or rise..) you can stand to gain a lot out of it!.. 💭 Make sure to strike a balance though! All that time spent in your man-cave could be detrimental! We are after all, social creatures.
I always get the vibe that everyone is taking a time out from the norm to spend time with family more on this day than any other day of the year. Food, games and gifts esp for the kids makes it all exciting too. It’s a 9 for me, I would have said 10 if I had a lot of money because then I could give more and help more people in need because I always spare a thought for those people lonely or really poor or even homeless and this period highlights it for me and makes me wish I could so something even more.
- I agree with you wholeheartedly. Achieving some level of financial stability has allowed me to realign my goals and desires. It isn't always about obtaining the fanciest possessions money can buy. I'd say that I've started seeing the value of seeking out new experiences, as well as helping out the fellow man in need. 👍
"Is Christmas your favorite holiday of the year?"
76.9% voted "Yes".
23.1% voted "No".
"What are your plans for Christmas? Do you have anything special planned for today?"
You guys said:
To invest more on btc - Treat yoself. 😊 A very traditional Christmas dinner... - As they should be! 😋 Wife’s family Italian background so we do the 7 seafoods the whole 9 yards lol🐙🦑🦐🦞🦀🐟🐠oh my..... - Man, you're making me hungry just thinking about it. Im jelly! 🤤 Did all the extended family things yesterday. Just going to sit around with the wife and kids and watch Christmas movies and have a ham dinner. Thank you for the opportunity to share 🎅- Anytime. This space is here for you to share your thoughts and for us to engage with ya. Sometimes, we all need a place to pen down our thoughts. ✍️ Eat, drink and be merry - Partyyyyy 🎉
To relax with my wife and kids as much as possible. - Quality time well spent. Home, home - to the family, relatives and friends, the last time getting to see them less and less. Christmas holidays are a great opportunity to get together !!! !!! I love Christmas ☺️☺️☺️ Merry Christmas to you friends !!! - A very merry Christmas to you too. May it be filled with fond memories and lots and lots of love. 💓 Open gifts. Play games. Nap. Eat. Repeat. - Could do this any day tbh. 😂
Eat great tasting food, open presents and get ready for new year’s - A perfect way to get ready for the new year. COOOOOOOOKING - YUMMM 😋
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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