“The key is not to prioritize what's on your schedule, but to schedule your priorities.”
- Stephen Covey 💪
Welcome back from your weekend, CMC army! I hope you're all well rested and raring to go. Time to close August with a bang. Let's get to ittttttt!
Today in history (2012), then 15 year-old New Zealand golfer, Lydia Ko, became the youngest LPGA Tour event winner after winning the Canadian Open Women's Golf Tournament. She was also the first amateur winner since 1969. 😲
In today's newsletter, we will be covering Circle CEO's thoughts on the U.S. lagging behind China's development of a national digital currency, Bithumb to start conducting monthly audits on its crypto listings and 3 firms signing a MoU to create a blockchain identity system to improve financial inclusion in Buenos Aires.
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! 📚
A quiet weekend 😴
Over the weekend, total market capitalization rose slightly from ~$266.6 billion to ~$268.9 billion with 24-hour volume averaging ~$60 billion.
BTC is currently trading at ~$10,350, pretty much where it left off on Friday. On the daily chart, it is trading below its 50-day EMA line, with RSI level at ~43. On the weekly chart, the MACD line has crossed over to the downside of the signal line, so we could see some overhead bearish pressure in the coming weeks. 👀
Take notice 👀
During a recent Global Coin Research podcast, Circle CEO Jeremy Allaire said that the U.S. lagging behind China’s development of a national digital currency could change the way Western companies transfer payments.
Allaire believes China is setting the pace in the development of a digital currency equivalent of its national fiat currency, the renminbi, and could soon bypass Western rules through direct settlements as the digitized currency "creates an opportunity for China and Chinese companies" to "bypass the western banking system”.
He went on to add that Circle "believes that the major reserve currencies of the world, the major trade currencies of the world, would become digital currencies”.
A tightening on things 🔒
According to Yonhap New Agency, South Korean crypto exchange Bithumb will start conducting monthly audits on its cryptocurrency listings and become the second South Korean exchange this month to update its listing policies.
The audits, conducted by a Listing Eligibility Deliberation Committee, will determine the tokens' eligibility for continued trading. Coins that fail to pass the audit will first be put on notice and then delisted after 2 months if no improvement is seen. Possible reasons for delisting include low trading volume, low market capitalization, lack of support from developers, problems with the underlying technology, illegal activity and requests from governing bodies.
The committee will also comprise of attorneys and other professionals in an attempt to make the process fair and transparent. This move by Bithumb comes amid a general increase of standards at exchanges as South Korean authorities continue to crack down on crypto in the country and as banks tighten anti-money laundering procedures relating to the exchanges.
Protecting the unbanked 🛡️
IDB Lab (the Innovation Laboratory of the Inter-American Development Bank Group), NGO Bitcoin Argentina and the Argentine subsidiary of NEC Corporation have signed a memorandum of understanding (MoU) to create a blockchain-based identity system to improve financial inclusion in Buenos Aires.
According to these 3 partners, ~16.2% of Buenos Aires' inhabitants are poverty-stricken and yet, shoulder relatively higher costs to access goods and services, especially in the area of financial services. They believe blockchain technology can provide a secure and reliable registration of data on the identity and behavior of individuals while preserving privacy and granting citizens control over its circulation.
As such, they seek to build a blockchain-powered identity system that will provide unbanked individuals with a digital wallet to allow them to store and make payments and remittances while building a transaction history.
At The Capital, join in on the cutting-edge discussions around adoption and liquidity! Wait til you see our speakers' list! The crypto leaders and builders will share their perspectives on the state of crypto today, and chime in on their thoughts for where blockchain is headed! Best of all, the community gets to vote on the topics that matter to them, during our exclusive UNconference sessions! In these sessions, our speakers will touch on what YOU deem is important.
For a little Proof-of-Work, we're making your ticket to The Capital FREE! Simply click on "TICKETS", select "free" or "full" admission, answer the questions, and we will see you there! More details can be found here! Remember to start looking for flights/trains/buses asap!
Other news 📰
Self-proclaimed Satoshi Nakamoto, Craig Wright, recently posted the Bitcoin (BTC) white paper on the scientific journal hosting site, SSRN, citing himself as the author. 😂
Waves (WAVES)' decentralized exchange has added support for Ethereum-based (ETH) ERC-20 compliant tokens. 🤗
Blockchain-based internet browser, Brave, has expanded its crypto tipping option to more than Twitter, by integrating it into Reddit and Vimeo. 🙌
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 theCboe BZX Exchange(final decision)
"How much do you agree with this statement: "Given the chance, I would be interested in working for the Libra project.""
The average vote was a 4.8.
"Why or why not?"
Libra need to declare itself as a centralised system if still want to keep previous works mechanism. This to avoid confusion and negative effect to the majority decentralised crypto digital asset. This will educate people as well - True. They've created a great narrative though, but it ain't gonna fool us.
Only as part of dev team. I’m a scrum master/rte - You'd def have great prospects.
As it helps spreading of crypto, that I believe is the ideal future of money. - What they're spreading isn't truly a crypto though. It is still for a large part very centralized.
No interest at all - Zilch.
1. No way, I would never work for Zuck... so I guess the only way I'd consider it is if the board of directors fires Zuck lol. I'd rather work on BAT or Ethereum or something. - Wow sounds like you have a deep seeded hate for the guy. But yeah, he's betrayed the trust of the public way too many times.
I hate facebook I deleted my account years ago! - Same.
Maybe... If its impressive. Libra is planing for stable coin pegged to multiple currency that can be used to send tips through wats up na? Its ok...why not the missiin is fine. But if its going to invade privacy or just an insult to crypto ethos, i would chuck it. - It prob will. They will have a great deal of data on the way money is moved and spending habits etc. It's another data gold mine.
Everything coming from Zuckenberg is good! 🙂 - Sarcasm is strong with this one haha
libra is not a good thing as long is centralized . - Yeah. Too little degree of control by the end user.
Facebook privacy concerns and other coins can already be used for the same purposes. - Exactly. Just that they may have unlimited funds in
Opportunistic Assholes ! - Hahaha, can you blame em tho? It's a business.
I don't trust them. - Neither do I.
NOT interested with Libra, too much spies are able to get too much sensitive information about my life, definitively I do not want to be in with Libra. let´s stay out from it. - #BoycottLibra!
If they pay me enough why not. - It's all about the benjamins to you eh? Haha
Not at all, yes it can bring future work, and it a great learning experience, but no, my standards are higher than working for the face of evil and anything associated with them. Really about morals. Maybe I'm silly, but it just me. - I don't blame ya. You have to believe in the company's vision too.
Facebook is empirically impressive but also basically Evil Corp. - True. Data is the most valuable asset of this decade, and they've such a large pool of it. The amount they know about people is dangerously scary.
"What are your plans for the weekend?"
Barbecue with friends - Lovely! Hope you guys ate your fill!
Not much honestly :/. Hopefully hiking and chillin with family and friends lol. - That's like MY perfect weekend!
its raining so mainly indoors. we have called a carpenter to fix some furniture at home. - Working on the home is one of the most satisfying things to me.
Nothing spécial - Those can turn out to be one of the best weekends, especially when you spend them on your own. Helps center oneself.
I am planning for a trip that i will do in my birthday. Cant invest in vryptos next 2 months, saving money for the trip!! I like to travel and explore by myself at my birthday, its becoming a yearly ritual. Coz getting old na, so atleast travel somewhere before getting older. - That's awesome! Explore as much of the world! It's so enriching to learn about the different cultures and beliefs.
Check CMC lol 🙂 - Awww yeah!
Clear out that storage unit! (So I can buy BTC with the money saved:) - It's gonna pay off! Kudos to you for making the effort.
it's my birthday , so i will chill have a barbeque . - Happiest birthday to you! Hope you had a great one, and may your wishes come true!
Beer ! - Can't go wrong w this one.
Go to a church picnic. - Cool! Hope you guys had a blast.
I am currently on a vacation - Ahhh jellyyy! Where are you?
relax and enjoy nature a bit. - To me, nature has soul healing properties. I find it so refreshing to go out on a hike/ hit the beach every once in awhile.
Connect with my partner, family, and friends. - Bonding!
Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
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