“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it.”
– Steve Jobs
Day 2 of the week, fam. Stay on that grind! 💪
Today in history (1951), Mexican chemist Luis E. Miramontes synthesized the first oral contraceptive. 💊
We will be covering BitGo providing institutional-grade custody and wallets for Tron (TRX), Ripple and Coinbase investing in Mexico’s biggest crypto exchange Bitso and Italian banks successfully testing data reconciliation via blockchain. 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! 📚
Slow Mondaze 😫
Over the weekend, total market capitalization stayed within a tight range of ~$224.5 billion and ~$228.2 billion, with most coins either seeing gains or losses in the ~1-3% range. Total market capitalization currently stands at ~$225.4 billion. 24-hour volume registered ~$51.5 billion. Notable mover of the day is 0x (ZRX), up ~8.8% over yesterday.
BTC is currently trading at ~$8,330, down ~0.2% over yesterday. On the daily chart, BTC continues to be trading below its 100-day EMA line. RSI is at ~40 (same level as yesterday), indicative of slight bearish momentum.👀
BitGo, a digital asset financial services company, has announced that its institutional-grade custody and wallet offerings "that provide on-chain, multi-sig security" for Tron (TRX).
The announcement also revealed that multi-sig has been "openly reviewed and tested by the security community", and "works with a multitude of open source tools". 🛠️
The multi-signature addresses also need at least 2 individual users to use their keys to access the funds.
Ripple has spearheaded an investment round in one of the largest cryptocurrency exchanges in the Spanish-speaking world, Bitso, which saw the likes of Coinbase and Digital Currency Group investing.
Funds collected will allow Mexico's biggest exchange to expand its business to other Latin American countries like Brazil and Argentina. 🇦🇷🇧🇷
According to Ripple, Bitso "plays an important role in RippleNet’s United States-Mexican corridor by providing liquidity for payments".
Year of success 🎉
The Italian Banking Association (ABI) has successfully completed the reconciliation data of a year's worth of local banking activity on a blockchain platform under the Spunta Project.
200 million data entries introduced via 35 nodes in Italy were processed, effectively simulating one year of Italian banking activity, and displaying both the authentication procedure and platform's sustainability. 💐
A reward offered for finding vulnerabilities and issues in computer code. It is often offered by cryptocurrency companies like protocols, exchanges and wallets to identify potential security breaches or bugs before they are exploited by unfriendly parties.
Kik, a Canadian social media and messaging app, has reversed prior plans to shut down declaring that it's "here to stay". 💬
BMW, General Motors, Honda, Ford and Renault are working with the Mobility Open Blockchain Initiative (MOBI) to integrate the system to automate payments on typical commuting runs without the need for cash or credit and debit cards. 🚙
Crypto exchange Coinbase has been granted an e-money license by the Central Bank of Ireland. 🍀
Crypto calendar 📅
TBA - Justin Sun's lunch with Warren Buffett
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Poll of the Day
How much do you agree with this statement: "Ethereum (ETH) is my favorite platform coin."
"How much do you agree with this statement: "I view BTC more as a store of value than as a transactional currency.""
The average vote was 7.3.
"Why or why not?"
For now, as it is difficult to spend, for daily transactions. – Yeah, costly too. 💸
Because its to slow to be transactional – This will get better…but yeah it is rather slow. 🐌
It is not very easy to spend in the US. – Hahah still better than most countries believe me. 😂
I view it as Both – Same here, but more so as a store of value. 😄
Due to lightning BTC can be payment system – I do hope so, but it makes it significantly less secure I believe. More susceptible to DOS attacks. 🤔
Well for the size of my wallet (micro) but adding weekly I’m hodl my bitcoin for now, if you’re trying to buy a donut with bitcoin and it’s spiking you gonna pay more for fees then 🍩 – Great that you’re adding to your bags at these prices! Keep at it! 😄
BTC traders and users want it to remain relevant. However, this highly marketable and recognizable grandpa coin is still expensive to trade, costly to mine, slow as molasses, and environmentally unsound. Keeping this in mind, there are much better coins available to use for purchasing goods and services that are incredibly fast, cheap, and reliable leaving only BTC's name and its store of value as viable in the long term. Furthermore, and in light of the recent co-signatory letter issued by the CFTC, FinCEN, and SEC, Bitcoin's anarchist, anti-government, and privacy stances clearly violate US banking regulation, transparency, anti-laundering, and anti-terrorism laws which the three agencies directly and expressly warned against. If BTC, is to succeed, then miners in conjunction with developers around the globe will need to cooperate to modify BTC coding in order to comply with the government's requests and be able to leverage its most significant use case: store of value. Cuz Baby, she's valuable! - Very well said! 😄
BTC goes up and down but fiat currencies always go in one direction , Down – Hahaha true, but there is a place for inflation tbh. It drives the economy. 👍
More of an investment long term. – Yeah I believe so too.
i do view BTC as a store value.. sometimes i do transact to buy goods using btc.. – That’s awesome! You’re doing your part with adoption! 👍
For the time being a store of value but as time marches on I can see it being embraced more and more for use as a transactional way of purchasing and selling goods/services both domestic and cross border without the necessity of currency exchange rates and margins being gobbled up by you know who 🙂 - I believe so too, but more so for large ticket items.
Today, there isn't enough stores that accept BTC as a payment method. It is becoming popular, but still not enough at the moment - Yeah, but it is growing at quite a substantial rate tho (merchants).
I view it as digital gold. – Same! 🥇
BTC hasNO Utility !! - And gold does in this day and age? 😂 Gold has so little utility.
If I had to choose between the two, then yes, store of value, but at the moment it's neither, gold is a store of value, as the risk of losing your money is very small, with bitcoin...we still don't know what's around the next corner, but we still believe that it will grow and the investment will pay off but we can't be sure of that yet. – If you were to simply focus on the properties of BTC, it would be a store of value, theoretically. But yeah, there’s a bunch of other - With what's going on in the traditional world of finance, I'm betting on BTC. 😂
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙