The right time

Your daily newsletter for August 19, 2019
Now
"Excitement must lead to immediate action or you will lose the power of momentum. More dreams die because we fail to seize the moment. Do it now!"
- Tony Robbins
Wow, that weekend went by fast! Hope everyone had a restful weekend, and is reinvigorated for this week. Something tells me it's gonna be an exciting week for the crypto space... 👌🏻

Today in history (2018), Tennis pro Novak Đoković beats Roger Federer 6-4, 6-4 in the final of the Cincinnati Masters to become the first player to win all 9 Masters 1,000 tennis tournaments since the series started in 1990. 😲

In today's newsletter, we will be covering Bakkt to launch its much-anticipated futures platform on 23 Sept, South Korean island Jeju establishing the "Blockchain Hub City Development Research Service" and the Australian Tax Office (ATO) sending out warning letters to those investing in crypto.

Today, we also have a special announcement regarding developments to our CoinMarketCap 'The Capital' Global Conference in Nov! So don't forget to check that out too!

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

Boing 🤜🤛
Over the weekend, total market capitalization bounced within a range of ~$259 billion and ~$273.4 billion. 24-hour volume, as with most weekends, dipped from Friday's ~$65 billion to Sunday's ~$45 billion. 

BTC also bounced within a tight range of ~$9,880 and ~$10,500, and is currently trading at ~$10,400. On the daily chart, BTC is challenging its 50-day EMA line, after breaking down from it last week. RSI rose from ~42 to ~46 over the weekend. 

On the weekly chart, the MACD line is also about to drop to the downside of the signal line, so we could see some bearish movement in the near future. RSI has dropped from ~69 to ~61 over the past week, indicative of a slight momentum shift to the bears. 🐻

About damn time 💪
According to an official blog post, Bakkt has finally announced that it has finally received approval from the necessary regulators, and will be launching its much-anticipated platform for daily and monthly futures in the U.S. on 23 Sept. 🎉

According to the announcement, Bakkt hosted numerous events in cities critical to the U.S. futures market, such as New York and Chicago, and also sat down with regulators from the CFTC and SEC, to bring this altogether. 🙏🏻

Bakkt will be partnering with its parent company Intercontinental Exchange's (ICE) ICE Futures U.S. and ICE Clear U.S. to provide its futures contracts.

Goal in sight 🎯
According to South Korean news outlet JejuDomin, South Korea island Jeju, also known as South Korea’s “Bit-Island”, has recently announced the establishment of "Blockchain Hub City Development Research Service". Seoul-based cloud services provider specializing in secure virtualization, Tilon, will help lead the project. 🤝

Tilon will analyze possible blockchain services suitable for the island, examine advances in the U.S. and the U.K. markets, and develop a model for blockchain on Jeju. A roadmap will be delivered. The project has a budget of ~175 million won (~$145,000).

The goal of the "Blockchain Hub City Development Research Service" project is to establish Jeju as another hub for blockchain in South Korea. Jeju is also a unique position to achieve this, as it has a special deal with the national government and has been self-governing since 2006 providing it with considerable freedom in terms of local administration and legislation. No other province has that designation. 👍

You have been warned 🛑
As part of an effort to warn against high-risk retirement investment strategies, the Australian Tax Office (ATO) has sent out warning letters to investors who have placed a majority of their retirement savings in cryptocurrencies. 📝

~18,000 holders of a type of privately-managed retirement account, known as Self-Managed Super Funds (SMSFs), were warned they could face penalties of up to 4,200 AUD for breaching regulations. The letter targeted any SMSF holder with over 90% of their retirement savings in a single asset, and the ATO singled out cryptocurrencies as a high-risk investment.

The Australian Securities and Investments Commission (ASIC) also warns its citizens to “be wary of services offering to establish an SMSF for you [them] in order to gain exposure to cryptocurrencies" as they may "be putting your [their] retirement savings at risk.” 😲

Blockchain term of the day 🤓 - Unspent Transaction Output
An output of a blockchain transaction that has not been spent, and can be used as an input for new transactions.

Everybody! Stop what you're doing and take notice! 🛑 You're all gonna loveee this one! 

The CoinMarketCap team has thought about this long and hard, and we've decided to... eliminate the price barrier for all attendees! Yes, rub your eyes and read again! Tickets are now FREE!!! You'd simply have to make it to the Victoria Theatre in Singapore on 12-13 Nov!

We've also introduced a nice food & beverage ticket that includes access to a lovely after-party. We cannot wait to see you there! Check it out here! 😀


Other news 📰
  • Over the weekend, Binance Jersey’s Twitter account was hacked by an anonymous twitter user, @LightningNetwo9. According to tweets posted on Binance Jersey by the hacker, the hacker is a security researcher claiming to operate with altruistic motivations. 🤔
  • Cryptocurrency startup Pundi X (NPXS) recently announced that its point-of-sale payment gateway (XPOS) will soon be launched in Panama and its surrounding regions. Blockchain development company Chainzilla has also joined the initiative and will be a local distributor. 🤝
  • According to crypto news outlet Crypto Briefing, Neo's (NEO) director of Eco Growth, John Wang, said that NEO is considering integrating Celer Network’s (CELR) layer-two scaling protocol to improve scalability. 🤝
Crypto calendar 📅

29 Sept - U.S. SEC's decision on the Wilshire Phoenix’s Bitcoin and Treasury Investment Trust ETF application, under the NYSE Arca exchange (initial decision)
13 Oct   - U.S. SEC's decision on the Bitwise Asset Management's Bitcoin ETF application, under the NYSE Arca exchange (final decision)
18 Oct   - U.S. SEC's decision on the VanEck/SolidX Bitcoin ETF application, under the Cboe BZX Exchange (final decision)
TBA      - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline
TBA      - Justin Sun's lunch with Warren Buffett

Catch the CoinMarketCap team at these community events! 🤝

12-13 Nov - CoinMarketCap 'The Capital' Global Conference (Singapore, Singapore)
Poll of the Day
On a scale of 1-10 (10 being absolute happiness), how happy are you to see Bakkt finally getting approved? 💭
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Why do you say so? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "As I acquire more crypto, I would be interested in putting my crypto with a crypto custodial service provider""

The average vote was a 3.8.

"Why or why not?"

I want to store my coins in a DEEP COLD STORAGE thgumb drive that I & only I have the code to .... - DEEEEEEP. Well that works too, but I'm thinking if these custodial services are able to provide some sort of guarantee/ insurance, it could make sense. 🤔

Unnecessary for me to do so and fear in bed with government. - How about with a private and regulated company? 💭

if it was completely secure it would be amazing. if they could have separate accounts in the same one that would be nice. i have one for retirement one for the employees and one for the grandkids. - Possible. 

i use hardware wallet for a good part of my holding. i don't know if custodial service can be better than owning Trezor or Ledger... - A custodial solution can value add by insuring your funds for a fee. 🛡️

like to know how different custodial service is to a secure exchange holding my funds....they should both be ultra secure so what does custodial offer over and above an exchange!! - Exchanges are never secure! And they would be more centralized than a custodial solution, as custodials would likely keep your keys in an individualized account and have them insured to a greater degree. 😬

Do you get to keep your keys? 🎹 or no, there’s probably not any insurance available? It does make me little nervous for me to have to keep info, not good at that stuff☮️ Have a bitchin weekend - It would make sense for them to insure your funds. 😋

It should however be verified, secure and insured and if somehow it gets hacked, then there should be a guarantee of full replacement. - Yeah it definitely would, otherwise it would make no sense to use em. 

No way... I am true crypto enthusiat and prefer owning my cryptos with the private keys. I am not one among the masses that get into crypto without knowing or learning about it. - Protect your keys well! 🛡️

Not a chance it's staying on my ledger. I am the bank. - Not your keys -> Not your crypto. 😀

Prefer keeping my keys at home - Same, I'm all for complete ownership. 👌🏻

Why not , proviso they guarantee whilst with them, it is secure - Yeah it would make some sense if they insured the funds. 

I do not understand how to trust such a service. When hacking is not a security risk I would be open to such an idea. - I think the value comes from having your coins get insured. 👍

Nahh fam, not your keyz not your coinz. - #truth. 

The security of cryptocurrency is largely due to the removal of the honeypot. When an entity holds large amounts of crypto, they are a target for hackers. Holding your own crypto is safer. - True.

I trust myself only when it comes to taking care of my crypto. - I'm like this too, but many don't. That's where this service comes in to fill that gap. 👍

I want to control my own assets and more importantly not pay fees for managing like the securities firms do. - Same, personally. 

"What are your plans for the weekend?"

REST ! - Must've been much needed, huh? 😂

Yard work. - Therapeutic. 😴

playing in a golf tournament saturday . large mouth bass fishing on sunday. - Hope you played well! 💪

its monsoon & the forecast for weekend is thunder storm. so mainly staying indoors. - Perfect weather for netflix and family time. 😀

gutted, work work work again all weekend, not given option of saying no.....wife and family been away for 2 weekends now and I haven't had a chance to live it up!!! They're back next weekend!!! Ah well c'est la vie.. keeps me out of trouble - Oh mannn! That work is gonna pay off for sure! I can't wait for you to be reunited with your family! 🙌

Workin’ a double at the kava bar Saturday, lovely job, hanging with friends more than work, Sunday 🍄 day woohoo btw I got my medical marijuana card super woohoo 🥳 - Textbook example of work hard play hard haha. 😂

Surfing, BBQ and waiting for Crypto to rebound into new highs! - Might take awhile for that rebound haha. 

I need to gey one of my pet cats vaccinated this weekend. Quite a task considering that cat os not easy, makes noise and have to shut him in the carrier , fooling him with food. Hard... - I've had experience with that before, when I had a cat in my college days. Yeah, it ain't easy haha. And they get so afraid when they're being transported from place to place. My cat used to shed a ton en route to wherever. 🤦‍♂️

Beer pool and karaoke - The trifecta hahaha.

stuff..some work, some fun - All about that balance. ☯️

Surf , surf and probably surf ! - Flow~ 🌊

I'm a cofounder of a startup. What's a weekend? - Weekend? Never heard of it. Haha, it'll pay off. Keep on, keeping on! 💪

Hanging out with my wife. - Quality time. Enjoy!

Fly around the world and stop to eat in different countries. - Dang, you baller! Bring us! 🙏🏻

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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