“What lies behind you and what lies in front of you, pales in comparison what for what lies inside of you.”
– Ralph Waldo Emerson
Happy Tuesday, CMC crew! I hope the pesky Monday blues didn't get to y'all yesterday. Find something to motivate yourself today! Anything!
Today in history (1683), the presence of bacteria was first reported by Dutch scientist Antoine van Leeuwenhoek. 👍
In today's newsletter, we will be covering BIS economist proposing DLT-based financial market monitoring, Hedera Hashgraph (HBAR) going live and HTC smartphone adds built-in wallet for Bitcoin Cash (BCH). Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit!
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! 📚
Monday bluez 😟
Over the last 24 hours, total market capitalization dropped slightly from ~$268 billion to ~$266 billion, with most coins seeing losses in the ~1-3% range. 24-hour volume registered ~$54 billion.
BTC is currently trading at ~$10,250, down ~1% over yesterday. pretty much where it left off on Friday. On the daily chart, BTC is trading below its 50-EMA line, with RSI at ~46. 👀
A new kind of credibility 🤔
Economist of the Bank for International Settlements (BIS), Raphael Auer, has suggested using distributed ledger technology (DLT) as a new method for observing financial risks.
This "embedded" supervision would get rid of the need for collecting, authenticating and delivering businesses' related data via automated tokenized market tracking.
It would promote the progression of financial markets using machine learning or artificial intelligence, changing "the way assets are traded and how they are packaged into complex financial products." 👨💻
Leading companies are also looking to DLT-based ecosystems; in March this year, Swisscom, Swiss, Deutsche Borshe Group and Sygnum partnered together to construct a DLT-based ecosystem with the "potential to reshape global financial markets." 🤝
Bigger & better 😉
Hedera Hashgraph (HBAR) has launched its high-speed blockchain substitute public network. Said to offer speedier transactions and more capacity to scale any blockchain to date, the network is supported by some of the world's biggest organisations with its fair share of advocates and critics. 🧐
The system's first HBAR tokens will be released to investors, advisors, vendors and other participants, and the remaining supply distributed over the next 15 years.
Hedera CEO Mance Harmon explained that the network has a "different data structure, different technology and looks nothing like a blockchain, but solves the same kinds of problems with better security and better performance.”
Going mobile 📱
Bitcoin.com has partnered with Taiwanese telecommunications producer HTC to support Bitcoin Cash (BCH) on its leading smartphone, the Exodus 1. Users need not download a BCH wallet from an app store to use it. 🙅♀️
This year, HTC has incorporated multiple types of cryptocurrency operability, like in-wallet ERC-20 token swaps in May, to its devices.
Crypto news outlet Cointelegraph also recently reported that South Korean electronics giant LG is collaborating with blockchain creators to produce a competitor to Samsung's Klatyn blockchain smartphone.
You already know you've got a ticket on us if you can make your way to Victoria Theatre in Singapore! For the guys and gals looking for a little more than free, we've got you covered.
Check out our full-admission ticket, which includes free-flowing beverages so you stay #hydrated all day, fancy nibbles in the AM and PM, gourmet lunch, and exclusive access to The Capital's VIP after-party!
Also, here are all our wonderful media partners who will be at The Capital to amplify and support the inaugural event. It's going to be amaaaazing!
"How much do you agree with this statement: "I have at one point considered mining crypto for a living.""
The average vote was 4.
"Did you follow through with it? Why or why not?"
The company I am with is no longer mining lucratively – It’s a tough space. 😟
I’ve been mining XYO from the get go (FHR). But for a living? Belum, not yet! 😋 – It ain’t easy to do it for a living. Quite a competitive space. 😓
ROI was never good enough in my region. – Yeah, it’s rough in places where electricity costs are higher. 💸
Did not find a good cloud mining contract – Aren’t most contracts the same? Where you are paid proportionately according to the hash rate you contribute? 🤔
If more energy efficient then yes. – Then profits would go down too, cause it would invite more competition.
Investing in mining equipment would not have paid off in consideration of mining profits. – It would def take some time to breakeven.
big people already doing it. Not for me. – I believe most mining pool contracts reward you based on the hash rate you contribute. 🤔
weird poll, should just be yes or no. Anyway, when I was new in crypto in december 2017, I thought mining bitcoin would be a great idea. So I used my laptop -_- - Hahahaha, if you left that running till today, I doubt it would even return you 0.5 BTC. 🤣
i have and still kinda do think about it. time for a change, although i think it needs to be a combination of works in cryptosphere to maintain my lifestyle. The startup cost is insane, personally, as i need solar panels and such. - Yeah, there is significant capital investment if you wanna do it big scale.
I almost dove in before all the big mining centers were built. Now it's just too expensive to start for myself. – O man, that’s like not buying BTC back when it was a couple hundred dollars. 💸
Nope. It seems to me that you need very cheap electricity and the mining fee paid also changes with the market value of BTC. Deep pockets are needed to ride the many fluctuations – Yeah def, if you want to run a mining pool.
Was curious at one time, but too late in the game to take on seriously, so invested in crypto's rather than mining BTC – I believe most feel the same way too. 🤔
1: Not interested 2: Lack both the technical kills and the computing resources. – Yeah setting up a mining rig isn’t easy.
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙