Daily Email Archive

Electric feels

Your daily newsletter for February 20, 2019
High energy
Passion is energy. Feel the power that comes from focusing on what excites you.
Oprah Winfrey
Happy Thursday, folks! The weekend is nigh. Finish strong! 💪

Today in history (2003), Bill Maher's political talk show "Real Time with Bill Maher" debuted on HBO. 🗣️
In today's newsletter, we will be covering the U.S. state of Wyoming passing 3 bills that will help crypto and blockchain businesses, the countdown restarting for the SEC's decision on the CBOE-VanEck Bitcoin ETF and CipherTrace raising $15 million in a funding round.

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! 📚

Looking alive again 💪
Over the last 24 hours, total market capitalization rose from ~$134.5 billion to ~$135.5 billion, while maintaining high trading volume levels at ~$28.4 billion. Most coins are seeing gains in the ~1-4% range. BTC dominance currently stands at ~51.7%, down from the ~53.4% levels of the beginning of Feb this year. 

BTC is currently trading at ~$3,990, up ~1% from yesterday. RSI level on the daily chart is at ~70.4, indicative of it being arguable overbought in the short term. However, in the weekly chart, the MACD line has just crossed to the upside of the signal line, and we are seeing rising RSI levels (now at ~40 from start of Feb's ~34), which is a good sign. However, BTC still needs to clear the 50-day EMA line on the weekly chart for it to present a stronger case that markets are starting to get bullish again. 🙏🏻

Setting the stage 📝
The U.S. state of Wyoming has passed 3 bills, aimed to make the state a top destination for crypto and blockchain businesses. 🙌

Last week, the Wyoming House of Representatives approved bill "SF0125", which recognizes digital assets as property and permits banks to act as crypto custodians. The bill was passed with a 54-2 vote in House, and a 29-0 vote in Senate a day later. 👍

Wyoming House of Representatives also recently passed 2 other major bills, "HB0185" and "(HB) 0074", on cryptocurrency regulation. HB0185 enables securities to be issued in tokenized form, such that utilizing a blockchain token to represent a stock certificate to be a legally issued security would be legal in the state. HB 0074 allows the creation of “special purpose depository institutions to serve businesses which may not be able to access traditional banking services, including blockchain businesses.”

Only a matter of time 
The Bitcoin ETF proposal submitted (for a second time) by VanEck, SolidX and the Cboe BZX Exchange has been formally published in the Federal Register yesterday, thus kicking off the 45-day clock to an initial decision. 😊

The U.S. Securities and Exchange Commission (SEC) will have to make an initial decision by 5 April. 👀

According to the director of digital asset strategy at VanEck, Gabor Gurbacs, VanEck has been actively working with regulators, as well as other major market participants, “to bring simplicity, transparency and professional market standards to digital assets” and he believes that a bitcoin ETF will serve the public interest if approved.

Security matters
Blockchain and cryptocurrency security firm CipherTrace has raised $15 million in a funding round led by Aspect Ventures, that also saw the likes of Mike Novogratz’s Galaxy Digital, Neotribe Ventures and WestWave Capital participating. 💰

CipherTrace provides analytics and forensics products for cryptocurrencies and blockchains that it claims are already in use by government, regulators, law enforcement and auditors to help enforce anti-money laundering laws and tackle crime. It collects a range of data points and uses machine learning to crunch that data,so as to de-anonymize blockchain-based transactions and trace flows of funds to “legitimate entities as well as criminal enterprises.” 🧐

As part of the funding deal, Aspect Venture's partner, Mark Kraynak, will be joining CipherTrace's board of directors.

Blockchain term of the day 🤓 - Open source

Open-source software is a type of software released under a license in which the copyright holder grants users the rights to study, change, and distribute the software to anyone and for any purpose. It is also a philosophy, with participants believing in the free and open sharing of information in pursuit of the greater common good.

Other news 📰
  • The Chamber of Digital Commerce, a blockchain advocacy group, has called for the U.S. government to implement a national strategy for blockchain technology and has released its recommendations for it. 📢
  • Binance has rolled out testing for its new decentralized crypto exchange and the testnet explorer for its own Binance Chain network. 👐
  • According to the World Gold Council (WGC), a market development organization for the gold industry, cryptocurrencies are “no substitute for gold”. I smell fearrrr 😨🤣
Crypto calendar 📅

31 Mar  - U.S. SEC's initial decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
5 Apr    - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
TBA      - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline

Catch the CoinMarketCap team at these community events! 🤝

25-26 Feb   - Crypto Assets Conference (Frankfurt, Germany)
27-28 Feb   - Trescon Kuala Lumpur (Kuala Lumpur, Malaysia)
4-8 Mar       - Hong Kong Blockchain Week 2019 (Hong Kong)
13-14 Mar   - Token2049 (Hong Kong)
Poll of the Day
How much do you agree with this statement: "the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application will get approved this time" 💭
Why do you say so? Share with me in the polls! 😆
What you said
How much do you agree with this statement: "Persistence is more important than talent"

The average vote was 8.3. 42.9% of y'all even voted a '10'!

"Why do you say so?"

Persistent people get jobs successfully completed! Talented people create many goals but don’t reach some of them (without persistence that is!) - True. 👍
It is absolutely more important. It doesn't matter how much talent you have, if you don't push through problems and just stop when you hit a problem you will never succeed. No one has so much talent that they never have problems. Persistence is key and so many people that win big have less talent than others, they just kept going. - Well said. One needs to have that gumption to push through or get around obstacles. 💪
Because everything worth doing is worth doing wrong until you learn to do it right because ignorant on fire is better than knowledge on ice. - Damn, quote of the day right here! 😲
Both are relative terms - being very good at either one is probably better than mediocre at both - but, when all is said and done, would prefer talent. With great talent, you will more likely get it right the first time. - Another great perspective here. 
Brute force - Just like those ASIC miners. 😂
Because I’m Living Proof - Ayeee champ! 🎩
Through persistence, you can get talent and with a little of intelligence you become invincible!
- Very true as well! In a way, talent can be manufactured. 🤔
you can have talent but no heart. - It's about the fight in the dawg. ⚔️
Just because you have a talent does not necessarily mean that you will apply yourself to the fullest. - True. Many wasted talents and unfulfilled potential out there. 🤦‍♂️
Not every time, often persistence without a talent will get you nowhere anyway, at the same time if you have talent for something but you're not training it you won't be successful either. My point is that you have to find the right balance between the two, find something you enjoy doing and have talent for and with enough persistence you will get very close to being the best at it. - Well said. Both elements are needed. 😊
100%. Talent without persistence will just go to waste, might bot even get a chance to get noticed. On the other hand work on something long and hard enough and you WILL succeed. Some will probably say you have a talent! - Agreed. 👍
If u doing and believe what u are doing in gizzillions time then it will be your talent automatically. Imagine if u do few things...u will have few talents as well onward. - This is true too. 
If talented people are lazy then nothing happens. - Yup.
Unless you're mosquito - the mosquito always loses if it's persistent - Hmm, wouldn't mosquitoes win if they are persistent? 🤔

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