It ain’t so black and white

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Your daily newsletter for 25 September, 2019

Perspective

“You have your way, I have my way. As for the right way, the correct way, the only way, it does not exist.”
– Friedrich Nietzsche

Good morning folks! It's midweek and we are near approaching the end of September. Here's a reminder to keep up the good work, to press on, and to finish strong! 💪

 

 

Today in history (1789), the Bill of Rights was proposed by U.S. Congress. 🚗

 

 

In today's newsletter, we will be covering H&R Block offering solutions for taxpayers with crypto transactions, insurance broker Marsh piloting blockchain-based digital placement platform and crypto-powered IoT networks on their way to over 250 US cities. Today, we also have a special announcement from a sponsor, Crypto.com! So be sure to check that out below 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! 📚

Day of rekt-oning 🤕

Over the last 24 hours, total market capitalization dropped a whopping ~$32.6 billion from ~$255.4 billion to ~$222.8 billion, with most coins seeing double-digit percentage losses in the ~10-20% range. Ouch! 24-hour volume registered ~$98.4 billion.

 

 

BTC is currently trading at ~$8,540, down ~12.7% over yesterday. On the daily chart, RSI dropped from ~38 to ~22, indicative of strong bearish momentum. BTC also broke below its bottom Bollinger Band (-2 Standard Deviations below its SMA line). On the weekly chart, BTC broke below its 21-day EMA line, a level it managed to stay above since early April this year. 👀

Total Market Capitalizations

Pay up 💸

 

U.S.-based accounting company H&R Block has started serving as a middleman between cryptocurrency users and the Internal Revenue Service (IRS). 

 

This comes after the agency began sending letters to 10,000 cryptocurrency traders who might have not reported income and paid taxes. ✉️

 

H&R has joined other leading professional services businesses that endeavor to resolve cryptocurrency auditing problems, like Big 4 company PwC and Ernst & Young.

A streamlined solution 👩‍🏫

 

Marsh, a prime insurance broking and risk management firm, has piloted a blockchain-based digital placement platform, the "Risk Exchange".

 

The platform seeks to procure a more transparent and safe digital placement whilst allowing users to get real-time data and feedback on the placement and binding process. 🕛

 

The first participants of the pilot include domestic appliance producer SharkNinja and commodity chemical business Dow Inc. that will tie U.S. trade credit policies with insurance companies AIG and Euler Hermes.

Expanding horizons 🎈

 

Internet-of-things (IoT) startup Helium is shipping units more extensively to 263 cities around the U.S., including key cities like New York, Houston and Atlanta. 🌴

 

The Helium network helps IoT devices like simple sensors and pet trackers receive low-volume data to the Internet speedily at extremely low costs.

 

Helium is still refraining from getting its tokens (HLM) onto exchanges, but anyone mining them can do what they want with them as soon as they obtain the tokens. Eventually, users will be able to sell Helium tokens to network users, albeit denominated in data credits. 

 

Founder of ReadWrite Labs and longtime IoT investor Kyle Ellicott is positive about Helium, and says that what "Helium and others are doing is it's a next step of technology being all throughout our lives". 🧗‍♂️

Blockchain term of the day 🤓 - Option

A contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. There are American and European options, the former of which may be exercised at any time before expiration, and the latter exercised only at the expiration date.

Special announcement 📢 - CoinMarketCap 'The Capital' Global Conference

 
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!

Special announcement 📢 - Crypto.com

 

The Crypto.com app has reached over 1 million downloads since its worldwide launch in May 2018. The app allows users to:

  • Buy crypto at true cost and store them securely 🔒;
  • Spend crypto with a metal Visa card with up to 5% back on all transactions 💳;
  • Earn up to 8% per annum on crypto deposits 🤑

 
Crypto.com was founded on a simple belief: it’s a basic human right for everyone to control their money, data and identity. To celebrate the milestone, Crypto.com also announced the launch of an outdoor brand campaign, “Time for Plan ₿”, which will feature prominently throughout downtown San Francisco. The phrase pays homage to blockchain’s potential in providing a viable alternative to the established financial markets.

 

Crypto.com invites the community to contribute creatively to the campaign and see their own words on billboards around the world. To find out more & to participate, click here!

Other news 📰

 
  • Medici Ventures-backed agricultural startup GrainChain is seeking to unify Honduras' coffee industry. ☕

  • BitFlyer, one of the oldest cryptocurrency exchanges, has declared some new cryptocurrencies for its Europe and U.S. trading platforms.💲

  • The U.S. House of Representatives has passed legislation for the Financial Crimes Enforcement Network (FinCEN) to study the use of blockchain. 👩‍⚖️

Crypto calendar  📅

23 Sept   - ICE's Bakkt Bitcoin Daily Futures Contract launch

 

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)

 

TBA         - Justin Sun's lunch with Warren Buffett

What's up in the markets

Bitcoin Dominance

Daily Top 10

Greatest Crypto Gainers

Greatest Crypto Loses

New on CoinMarketCap

Poll of the Day

On a scale of 1-10 (10 being most surprised), how surprised were you at the massive crypto market downswing yesterday?

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Why do you say so? Share with me in the polls! 😆 

What you said

"On a scale of 1-10 (10 being maximum enjoyment), how much do you enjoy reading the CoinMarketCap daily newsletter?

 

The average vote was 8.9. 49.4% of y'all voted a '10'! 🙏

"How do you think the newsletter can be improved? What additional content would you like to see?"

 

As for now, It is okay. – Glad you like it! 😄

 

love it. love it. love it. i find the letter good. – Thank you! Really appreciate the support! 🙏

 

What makes a crypto tick? – Demand, supply, news! 👍

 

I'm still waiting for a response to my question re. how cryptocurrencies such as Ox and Wax sometimes don't appear on the top 100 list and yet, once I do an individual search for them, then they do appear!? – 0x (ZRX) is on the first page – It’s currently ranked 41st. Wax (WAXP) is not on the top 100 list because its market cap places them just outside the first page (they are ranked ~123rd atm, so that places them on page 2 on our site) 👍

 

More training for newbie Crypto investors – We are looking to provide you all with more educational content! 🤓

 

A perfect daily added value. Keep going on! – Cheers mate! Thank you! 😄

 

Personally I think some content could/should be removed, in efforts to make sure the newsletter stays concise and to the point. The conciseness is one of the best things about this newsletter. On that note, I personally don't get much value out of the Goodbit videos or the FCAS scores (not enough details). Also, why is the "What's up in the markets" section all images now instead of text? Could that get changed back to text? Was copy/pasting really that big of an issue? Just wondering. Otherwise, keep on keeping on. If it ain't broke, don't fix it! – Thank you for your feedback! Goodbit videos are there to cater to the newbies to ease them into the space - they actually represent quite a significant portion of our subscribers. As for FCAS, you have to read into their methodology to delve deeper! As for the "What's up in the markets" section, we’ve recently shifted over to a new cloud-based email delivery service that isn’t able to pull the crypto price data well from the APIs – that’s why it’s an image now! Damn, you have a good eye! 👀

 

Graphics to be added, sometimes videos also – Working on video content atm! 👍

 

absolutely love the newsletter. i read it every morning. would love to see a question and answer feature. you could select one question a day and answer it. it would make all of us smarter. – Good suggestion! Will look into it.

 

i Will whaite for the momment. because i am new – I hope you’ll stick around!

 

Needs porn – Lol wut. 🤨

 

Do another 300. I'll try to figure it out ! – Lmao! 😂

 

Love it as it is! Happy 💯 💯 💯 edition 🌺 - Thank you for your well wishes!

 

Expert opinions on current issues related to blockchain, artificial intelligence and cryptos – Noted!

 

Keep on going, yr letter is interesting, being different as generaly published letters: we will appreciate to keep a blacklist up-dated on dishonested exchange coins platform. – We do have alerts on exchange pages when we hear that users are experiencing issues with them (e.g. withdrawal issues etc). ⚠️

 

More content on emerging coins/tokens with promise ie: Holo Chain or Hedera Hashgraph – ‘Promise’ is subjective isn’t it? Haha. We do have weekly deep dives on a particular coin on Fridays! 👍

 

I totally believe that I am still reading your newsletter coz you start it off with a quote and end it with an engaging poll/question – Cool! Everyone seems to love them. The polls are also a great way for me to interact with you lot. 🗣️

 

I would like to see links to your source information so I can read further 'if' I choose. – Noted!!!

 

Add the ability to share each short entry to social media such as Twitter – Good point! Shall look into this.

 

Just keep it as is! – Gotta always look for way to improve on it! 👀

 

It educational and informative, even for somebody who has been in crypto for some time. I would like to see more of the deepdive, especially from investors perspective. {I know that financial advice and not really your mission, but from other members}. Maybe also a review of cloud mining companies. But overall I love the newsletter. congrats on 300th! – Thank you! Appreciate the support you’ve shown thus far. 

 

The format could be better. – How! 🤔

 

I've only begun reading it. I would need a little more time to have a productive contribution. So far I really enjoy it and I think the overview of what it going on in the crypto market is informative. – Glad to have you here with us! Do stick around!

 

I think you should change it up a bit. The best thing about the newsletter is 'What you said.' That should go on top 🙂 – Haha the idea behind putting it at the bottom is to that you receive the top news of the day when you first open the newsletter! But yeah, I could play around to see if this can work.

 

I really enjoy reading CoinMarketCap daily newsletter, is the second thing that I Enjoy (the first is my morning coffee cup) – Awesome! Never comes close to that morning cuppa. 

 

A better understanding of why new coins like Libra might kill others ,when Facebook is so mistrusted – Hmm, we could definitely do a deep dive on that for this Friday. 🤔

 

all perfectly – Cheers! 🍻

 

It's a good short, light briefing it could use a little more detail – Noted!

 

More educational content .. – Working on this! We are producing some video content for y’all! 

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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Different perspectives, different answers~ 🤗

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