“Our greatest glory is not in never falling, but in rising everytime we fall.”
Welcome back to another week of tantalizing crypto news, here at the CoinMarketCap's daily newsletter! Grab your morning cuppa coffee, kick start your engines, and let's dive right into it! ☕
Today in history (2018), Indian Prime Minister Narendra Modi started "Modicare", the world's largest healthcare scheme that gave free healthcare to 500 million people. 👍
In today's newsletter, we will be covering Bakkt’s much-anticipated Bitcoin futures trading platform going live, the specs behind Bitcoin’s lightning network pass their first ‘formal’ security test and a Swiss university fighting fake diplomas with blockchain technology.
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! 📚
Weekend dip 📉
Over the weekend, total market capitalization steadily dropped from $273 billion to to $263.2 billion, with most coins seeing losses in the ~2-6% range. 24-hour volume during that time averaged ~$51 billion.
BTC is currently trading at ~$9,990, down ~2.3% over the weekend. On the daily chart, BTC is currently testing its 100-day EMA support line and RSI is at ~41.2. 👀
Getting physical 🏋️♂️
Bakkt's physically settled Bitcoin (BTC) futures trading has just launched on the Intercontinental Exchange (ICE), the first of its type to get the go-ahead from U.S. regulators.
Unlike the cash-settled trades of other exchanges with BTC futures, Bakkt's physically-settled contracts allow clients to receive BTC instead of its equivalent amount in fiat currency upon contract expiration. 😍
Numerous speculators feel that the physically-settled futures trading symbolize a breakthrough for BTC and cryptocurrency's institutional acceptance.
A positive start✔️
2 researchers have revealed Bitcoin (BTC)'s new lightning network's formal verification results. It showed credible specification that the underlying cryptography stacked together to make the payment structure work is reliable.
One researcher, The University of Edinburgh's Orfeas Lithos, confirmed that the "lightning network is as secure as Bitcoin". 🔐
However, despite the importance of the verification specification, it applies only to lightning network's code blueprint and not its software implementations.
Fight the fakes💪
Switzerland's University of St. Gallen is planning to partner with Swiss blockchain startup Block Factory to use blockchain technology to a fraud that has been rising internationally over the years, fake diplomas. 👨🎓
The blockchain-based test project allows for authenticity verification in a few seconds, instead of a few days.
Previous reports also revealed that Malaysia and Canada are also trying to use blockchain-based solutions to fight fake educational degrees in their countries.
A transaction is only confirmed when it is included in a block on the blockchain, at which point it has one confirmation. Each additional block is another confirmation. Different exchanges require a different number of confirmations to consider a cryptocurrency transaction final.
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!
Other news 📰
Facebook has purchased artificial intelligence-based chat-bot startup Servicefriend for digital wallet Calibra. 💬
According to The Blockchain Transparency Institute's (BTI) latest market surveillance report, crypto exchanges Kraken and Coinbase are among the cleanest crypto exchanges in the industry.
The Portugal Tax Authority (PTA) recently announced that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT). 🇵🇹
"How much do you agree with this statement: "I believe that the Bitcoin (BTC) movement cannot be stopped.""
The average vote was 8.9.
"Why or why not?"
Almost flawless design ! Hopefully there is no backdoor built in ! – There isn’t one. 😄
Fiat Currencies just depreciate in value while cryptocurrencies appreciate. – Well, theoretically haha.
i totally agree.. BTC is the king.. in coming days it will be very expensive to own 1 Bitcoin. – No doubt.
The demand for bitcoin is high just look at the stats – I believe you’re referring to the hash rate here. Yeah, it’s awesome to see it on the rise. 📈
Good luck stopping BTC – Hahaha yeah. 😆
It's like a snowball rolling down hill. You can't stop it so get out of the way or climb aboard the Bitcoin train. – Choo choo. 🚆
Because more and more people are becoming aware that besides governments and banks manipulations, there is ANOTHER way to conduct business safely without Big brother looking over everyone's shoulder and claiming shares of one's hard work. – Well Bitcoin transactions aren’t completely anonymous cause every transaction is recorded on the blockchain. 🧐
Words can't stop it, laws can't stop it, guns CAN'T stop it. – It’ll be hard to completely stop, but I think that governments will be able to control access points like fiat-crypto gateways. 🤔
Was at the Baltic HoneyBadger conference. Totally convinced that bitcoin can't be stopped. At the same time it still feels like we're just beginning our magical journey. – Glad to have you on this journey with us! 🚀
Bitcoin mining is dominated by ASIC chips with over 90% of the hash rate from 8 pools. Bitcoin requires high power server farms, secure land, power and internet. If just four national governments wanted to reduce Bitcoin hash rate to a trickle they could physically destroy those servers, starve them of power or sever their internet connections. Reduced to 10% of the current hash rate the Bitcoin network would have long delays and high fees, it would be impractical. Bitcoin has not faced these types of physical attacks yet... nor has it faced legal persecution. However, the broader crypto movement was inspired by Bitcoin. Crypto alternatives include low power consensus mechanisms, higher decentralisation and anonymising techniques. Unstoppable crypto is yet to be proven though. - Hmm, interesting thoughts. 🤔
It growing, we smart and we will not stop until our objective is reached. The greed causing banks and markets to again crumble is helping the cause immensely. Not as a transfer of wealth, but as a means for all to better be engaged in financial process, why must money be worth less today because governments devalue or print more cash. the ideals of BTC is strong and it time for a change for the better. – I believe that another financial meltdown and perhaps a currency crisis will prompt the rest of the world to look at alternatives like Bitcoin. 😄
Absolutely it cannot be stopped. the state can make it difficult to get in and out of fiat to bitcoin but bitcoin itself is here forever. You can trade bitcoin via shortwave radio signals now so you don't even need the internet. – Ooh didn’t know about the radio signals. That’s awesome! 😄
even if central banks banned it worldwide it would still continue it has come to far and provides to many benefits to the world that have a significant impact in peoples lives! – It certainly has made an impact on the lives of many, for better or for worse.
Whether BTC is the ultimate answer, who knows? But the crypto movement will not be stopped as the mistrust of the world central banking system is so great that alternatives must develop. – More power back to the end user! 💪
Truly decentralized, limited supply and immutable. – Essential traits to have in a currency if you ask me!
"What are your plans for the weekend? Got anything interesting lined up?"
Having a digital bath in my cryptos, getting the 'scrooge' feeling... - Lol, soon you wont have to be a scrooge. 🤑
Smoke some weed – Roll and smoke one on my behalf please. 😄
Football, family, food, relaxation. Hope you enjoy your weekend! – I did thank you! Hope you did too!
Play soccer with my friend, some beers then sleep until monday!!! – Doesn’t sound too bad a weekend. 😄
epl footie ...barbecue with family, attend a local crypto seminar... – Quite a packed weekend! Hope it went well!
Going to see "The Game Changers" at the cinema - Decent reviews on RT. You must've enjoyed it!
Take care of things around the property, storing Summer things away so they can be enjoyed come next Spring. Also making sure that winter equipment is fully operational. - Putting in that prep work! 🔨
Going to NFL game. – That’s awesome. Hope you had a great time.
75 years ago the Brits and allied forces embarked on operation Market Garden. The operation failed miserably because the germans were well prepared. But this weekend we honor those who fought for our freedom. Who gave their live for freeing Arnhem and The Netherlands. We salute so we don't forget. -🙏
Honestly too hungover to consider plans for rest of weekend. But comic con africa is happening, might pop in and nerd out. if my human functions can be reached. – You gotta go. Comic con is always worth the trip, hungover or not! 💫
Beer, Karaoke and a bit of Singapore F1 action on the TV 🙂 - Vettel utterly dominated. 💪
England's first game in Rugby World cup followed by the mighty Hammers (West Ham to the uninitiated) trouncing Man Utd on Sunday...bring it on – Man United 🤦♂️
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙