“Amateurs sit and wait for inspiration, the rest of us just get up and go to work.”
― Stephen King
Happy Tuesday, CMC! I hope Monday went well for you lot. Pro tip on making your days more productive: early morning runs 🏃♂️(sounds counter-intuitive I know 😂). You gotta push though. Not those casual strolls in the park.
Been doing them for a week now and it's been great! Try it out!
Today in history (1920), the national council in Turkey denounced the government of Sultan Mehmed VI and announced a temporary constitution.The last Ottoman sultan, Mehmed VI, departed his palace in Istanbul on this date. 🤴👋
In today's newsletter, we will be coveringCoinbase closing its political action committee, blockchain-based art registry startup Artory raising ~$7.3 million in Series A funding round andblockchain-powered gaming platform Unitopia receiving ~$5 million in funding to build a gaming platform like Steam.Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit! So don't forget to check that out below too!
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 push through 👐
Over the last 24 hours, total market capitalization rose to ~$184.5 billion, with most coins seeing gains in the ~2-6% range. Notable mover of the day is ICON (ICX), up ~13.6% for the day.
BTC is currently trading at ~$5,550, up ~4.9% for the day, mostly due to a late night run up. On the daily chart, broke through the 0.618 fibonacci line (drawn from the mid Nov to mid Dec crash) and is heading towards challenging the 0.786. Additionally, the MACD line has just crossed to the upside of the signal line. On the weekly chart, BTC also broke through the 200-day EMA resistance line (a line it has been trading beneath late Jan 2018). Let's hope that it closes above this level. Doing so would present quite a strong case that we are transitioning into a bull market! 🙏
You win some, you lose some 😔
According to a recent filing with the Federal Election Commission (FEC), crypto exchange Coinbase will be closing its political action committee (PAC), just 10 months since its inception. 🏳️ In those months, Coinbase’s PAC received no funds nor made any disbursements.
The Coinbase PAC formed in July 2018. Shortly after, it became a founding member of the Blockchain Association, the the first lobby group in Washington D.C. to exclusively represent the interests of the blockchain industry. Other members of the group include Protocol Labs, Digital Currency Group and Polychain Capital.
For the sake of art! 🎨
According to art-focused publication The Art Newspaper, Blockchain-based art registry startup, Artory, has raised ~$7.3 million in Series A funding round that saw the likes of 2020 Ventures (early investor of Spotify), Postmates (American logistics company), and The RealReal (luxury goods resale platform) investing. 💰
Artory is a distributed ledger that enables users trace provenance and title data, as well as record sales of works of art. According to the Artory's founder, Nanne Dekking, the funds will be allocated for further improvement of the registry’s data and development of the platform’s functionality. She added that they are “are building something that has to be vetted, accurate and easily searchable to show the depth of information behind every artwork.”
Just in March, Artory acquired auction house database Auction Club, a subscription-only database containing sales information from more than 4,000 international auction houses. Through this it was seeking to make Auction Club’s sales data public. 👀
Follow the burgeoning industry 🤑
According to news outlet BiShiJie.com, blockchain-powered gaming platform Unitopia has received ~$5 million in funding from the likes of Shuimu Fenghua Fund, Link Hui Capital, Jun Joint Venture, Digital Chain Capital and Super Brain Fund. 💰
Unitopia is the blockchain research lab of Chinese video game developer, Electronic Soul. In an attempt to boost research and development of blockchain-based games and facilitate growth in the industry, Unitopia will use the funds to create a blockchain-based equivalent of digital distribution platform, Steam. 🤖
According to Unitopia, all games on its platform are decentralized, with the game revenue distribution controlled using smart contracts.
Mining with remote processing power rented from companies operating outfits in countries like Iceland, where the electricity is abundant and cost-efficient, and the ambient temperature is cold year-round. Another term for this is mining contract.
In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'Investing 101'! Class is in session. Check it out here!
Other news 📰
On GitHub, Ethereum co-founder Vitalik Buterin has recently proposed a higher staking reward for the upcoming proof-of-stake (PoS) algorithm implementation on the Ethereum blockchain. ✍️
Chinese city Guangzhou has recently issued a business license through blockchain and artificial intelligence technology. It was issued via the administrative center of Huangpu District, Guangzhou, and represents the first blockchain and AI-powered business license in China. 🥂
JPMorgan Chase is adding new features to its Interbank Information Network (IIN). The network now includes more than 220 banks. 🤖
Crypto calendar 📅
16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
21 May - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
"How much do you agree with this statement: "I still get nervous when I send crypto via the blockchain""
The average vote was a 5.8.
"Why do you say so?"
Nothing is 100%. I always check to see that the crypto arrived, so I am not completely confident that either I got it right, or the system got it right. - If you double check the address, rest assured the crypto will be sent to the intended address. That's just how the blockchain works. Just make sure you pay enough fees (if you need to)! 👍 Money just magically disappears and than magically reappears. - Hahaha, I know what you mean. That limbo period where the transaction is being verified can be nerve wrecking. 😰 You just can't get the feeling out of your head that one wrong digit can lose your money - Yeah! Sweat element is there lmao. 😂 Mainly the time it takes to get through when there are delays - Those are the worst. It's like you're praying to the blockchain to not mess it up. Even though I've sent crypto many thousand times over, this still gets to me. You're not alone! 😊 I get excited and amazed at how fast I can send to anyone anywhere 💸 - Yes! I remember the first time I did it. When the time between transaction execution and transaction verification was within mere seconds, I was mind blown. I even sent the crypto to someone across the globe! 🤯 new technology and not used to it yet - You're not alone! Keep using it whenever you can. I'm sure you'll get used to it in no time. 👍 I feel that the history of loses from others is still a possibility today. - It very well is. Always double check! I've sent crypto to incorrect addresses before, and it's not a pleasant feeling in the least bit. 🤦♂️ lack of experience - It'll take some time! 😊 I'm pretty comfortable sending crypto around but I still check to see that the address is correct. I don't just copy and paste. - Good practice! Never get lazy. All it takes is one mistake and you could lose everything. 💸 I do get nervous 😬 that's why I double check the address when I send any crypto over the blockchain, especially bigger amounts. I do like that when ever I do send anything out of my hardware wallet it makes me double check the address I'm sending it too. Over time I have found a bit more peace of mind. - Man, those bigger amount transactions make me sweat bullets no matter how many times I do em. Yeah, those confirmation notices really help provide some ease of mind! 😌 BLOCKCHAIN SIMPLY WORKS ! - Hell yeah it does! 😄 How secure is my network? How secure is the person's network I'm sending to? Imo The time delay waiting for 1st confirmation is what is the hard part. - Yeah haha, that period of limbo. Ughhh 😰 I am little old fashion man - It's naturally to be resistant to change (: As sending and receiving addresses between exchanges/wallets sometimes change over time for different crypto’s one always need to triple check - Agreed. I think that as long as you make it a point to double/triple-check the intended address before each transaction you should be fine. Never had any problems otherwise! 😊 Have had instances were XLM was cleared on this end but never reached the receiving wallet. Exchange reversed the swap and I got my XLM back...Thanks to CoinField Customer service. - Glad to hear! I personally never send funds around through exchanges. It's like I'm at the liberty of them when something goes wrong. . If I have to send funds to another person, it's usually from my personal cold/hot wallet to his/her personal cold/hot wallet. I prefer having a higher level of ownership. 😊 when dealing in large amount i do get anxiety & check a lot.. have made few mistakes. but the exchanges & wallets these days are getting smarter & do prompt to correct the mistakes. - Totally! Seems very secure and uncoruptable. - Yup it sure is. I'm generally nervous, and therefore careful. A mistake in pasting addresses, or in my judgement of the trustworthiness of the other party of the transaction, can potentially mean a complete loss. - Yes. All it takes is one mistake. One! 💸 When I have to open new accounts in order to purchase smaller crypto viruses - Gotta always be careful of phishing sites. Some of them look exactly like the real ones it's pretty darn scary. 😵 Because it’s easy once you get into the habit of double checking the send to address. - It definitely gets better! 👍
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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