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Losing time

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Your daily newsletter for 31 October, 2019

Spend it wisely

“Lost time is never found again.”

– Benjamin Franklin

It's the last day of October! Finish strong! 💪




Today in history (1941), Mount Rushmore was finished after 14 years of work. 🗿



In today's newsletter, we will be covering the 10th-largest Indian state releasing policy for blockchain and AI, Bitcoin (BTC) hitting $1 billion in all-time transaction fees and a Canadian fund manager to list a BTC fund on a major stock exchange.



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 end to Oct 😴



Over the past 24 hours, markets bounced between a tight range of ~$247.2 billion and ~$241.4 billion, with most coins either seeing gains or losses in the ~1-3% range. Total market capitalization currently stands at ~$243.8 billion. Notable mover of the day is Tezos (XTZ), currently up ~10.5% over yesterday.



BTC is currently trading at ~$9,140, pretty much where it left off yesterday. On the daily chart, BTC is still holding its 21-day EMA support line, and RSI is at ~53.3, indicative of moderate bullish momentum. BTC is still challenging to break to the upside of its lower highs and lower lows trading pattern it has been trading within since late June this year. 👀

Total Market Capitalizations

First 🥳



The Indian state of Tamil Nadu is reported to be developing a state-level policy for blockchain technology and artificial intelligence (AI) that could be released within the next 10 days. 



The blockchain and AI policies are said to be the first in "addressing safe and ethical use of AI", and are expected to create ground rules on how the state government can use the budding technologies for service delivery and resolving governance issues. 



CEO of the state’s e-Governance Agency, Santosh Mishra, claims that no other state or country has declared "a standalone policy to address the safety and ethics associated with AI". 💯

1 B 😄




On 30 Oct, the Bitcoin (BTC) blockchain reached $1 billion in accumulative transaction fees. 😍



According to the founder of bitcoin wallet Billfodl, Bryan Aulds, the milestone "is a really cool milestone just because it shows how much people value block space".



According to data from blockchain analytics startup BlockChair, the annual bitcoin transaction fees collected has actually decreased in recent years due to the advent of scaling solutions on bitcoin including "Segregated Witness" and "Lightning Network".

Green light 🚦




Canadian investment fund manager 3iQ has obtained an initial approval to list a closed-end Bitcoin (BTC) fund on the leading Ontario Stock Exchange in late 2019. 



The Ontario Securities Commission (OSC) panel ruled in favor of them, and moved the OSC Director to issue a receipt for a final prospectus. 



According to 3iQ, this is the world's "first regulated, major exchange-listed" BTC fund, as other similar products of other companies launched on unregulated or lesser-known exchanges. 🤫



CEO Fred Pye revealed that 3iQ has been collaborating with the OSC’s Investment Funds and Structured Products Branch to develop this investment fund, to allow "retail investors to participate in a regulated and listed fund". 

Blockchain term of the day 🤓 - Bull Trap




A false market signal where the declining trend of an asset appears to be on the upturn, but does not actually materialize, leading bulls to lose money after going long.

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Other news 📰





  • According to a recent paper released by The Association of Private German Banks Bankenverband which represents more than 200 private commercial banks and 11 member associations, they believe that "the economy needs a programmable digital euro." 💶

  • Overstock’s security token platform tZERO and the Tezos Foundation have teamed up to tokenize $643 million in planned UK real estate development. 🇬🇧

  • According to a joint-report by technology giant IBM and the Official Monetary and Financial Institutions Forum (OMFIF) titled "“Retail CBDCs: The next payments frontier", the first-ever CBDC is expected to be implemented within the next 5 years. 🏦

Crypto calendar  📅



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

How much do you agree with this statement: "I would support my own country's central bank digital currency (CBDC) if they released one."


Why or why not? Share with me in the polls! 😆 

What you said



"How much do you agree with this statement: "Manipulation in the crypto markets is something that bothers me.""


The average vote was 7.8. 47.5% of y'all voted a '10'.

"Why or why not?"




There’s manipulation in every market – No doubt.



I don't think it happens much "yet" – Hahaha I would think otherwise. 😂



it does & should to everybody.. often during sudden bitcoin price crash we hear about market manipulation.. more than individuals i am worried about manipulation by exchanges.. i think it will improve with decentralised exchanges. – Could still manipulate markets w decentralized exchanges if you control a large amount of the overall supply.



The whole point of crypto is to be free of this, among other benefits like freedom! – Haha well when there’s money to be made, there will always be market manipulation. 🤑



It doesn't bother me much because I expect it. That's why everyone is told "don't invest what you can't afford to lose". FOMO buying at the peak of a pump is costly. W/O manipulation we'd have lower ATH's. Buy a little at a time and HODL and your portfolio will most likely grow. – DCA your way to the moon! 😄



the whales sold in the 13,000 $ range and stopped the moon mission once again. every time we get some nice forward movement they stick their leg out and trip us. we need more people in the market that are willing to hold on for the long term. i am waiting for the day that happens. it would be hilarious to watch the whales sell at 13,000 and have bitcoin continue up from that point on. they would be out of the game good news for all of us. - Perhaps they're trying to suppress prices so they can continue loading their bags for cheap? Hmm.



It does however where did they get the experience from ? The stock exchange of course . Understanding the market manipulators would undoubtedly make many one too. We do this because we want to make money and the temptation of what the "dark side " is doing will before they do it can be very tempting. What can you do about it ? Sweet nothing ...the odd company or person will get slapped on the wrist every now and then, otherwise it carries on . - It is what it is...


Manipulation in all markets make me mad! The precious metals, stocks, derivatives etc. have all been manipulated. Let the markets decide the value not the elites!👍



Are we sure it's manipulation ? If people let news be strong enough to dictate their buy/sell choices, it's not really manipulating but convincing 😏 – Well, the recent pump is really suspicious for a multitude of reasons. One being that the spike was so abrupt, and another that when the news was first released it w



Any manipulation in markets makes them less sound and more likely to cause huge losses for the smaller fry. The BTC whales are throwing Billions into the market, and conversely withdrawing them too. I'm scared to dive in now, as it could end in tears for the minnows, of which I am one. – Just DCA in if you believe in the long term value of BTC. 👍



i mean cryptocurrency markets are supposed to be decentralized market and tech but when you hear of market manipulation it just takes us back to the centralization that we trying to get out from on the first place...mxxm – True. Oh well.



the waves are to big! – It sure is a wild ride. 🤪



it's a defacto of any market, someone, somewhere will always look to either legally gain advantage, illegally gain advantage and at all points between the two.. it's human nature to beat the system by foul means or fair. Supposedly highly regulated markets are subject to manipulation in more ways then us minions will possibly ever know. Just need to go with the flow and by fair means be at the crest of that wave when it comes – Just gotta stick to your guns and ride the wave~ 😄



Well it should be fair for all investors. – It should, but it’ll never be because information asymmetry exists.



When I traded a lot a saw it on a daily basis, but yes. I'm just extremely curious as to who is behind it, whales, governments? There a lot of folk out there who wants to manipulate and make quick cash out of crypto, It needs to rather grow till we reach place where it replaces traditional fiat. It also discourages new traders and people in the crypto sphere. – It makes sense for those in that inner circle to grow the space tbh – similar to how it would make sense if a party were to successfully launch a 51% attack on the BTC blockchain, to uphold the integrity of it as the value of BTC is directly proportional to the size of its network and the users’ belief in it.   



You feel like such a sucker when you realize that the market is being manipulated just like the gold and silver markets are. – Haha I mean, you just gotta play the hand you’re dealt sometimes.



Crypto whales can move prices up or down at very short notice, people loose money and faith in the crypto sphere. – Too much manipulation would def be a deterrent to new blood entering the space. 

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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