It is corrupted stupid system topped with failures designed to rape ordinary people money – Loll 🤣
? Does America have one? Don’t know what that would do for me? But government and banks I thought were not so hand and hand with bitcoin – U.S. currently does not have one atm. China is working fast on theirs tho. Do look into it! 🤓
Countries Financial situation is disastrous. – The rate at which debt is growing far exceeds the rate at which incomes are growing. 😟
i would support.. in all it will bring massive awareness on blockchain & internet money.. also it will be very safe to store & use. it is to be seen what features it does carry. – But we lose decentralization, and in that we lose privacy and autonomy. 😟
The attractiveness of the assets is because of decentralization. If we allow governments and central banks to control they will become no different than fiat. – Agree.
My instinct is to say absolutely not. I loathe government and central banks and trust neither of them. I would have to know the pros/ cons better. Crypto is our escape from their overbearing regulation and absolute corruption. – Liberation! 🕊️
if our country had its own cbdc . that would mean that most of the battle for cryptos has been won. acceptance on a national level. what it would also do is send bitcoin soaring. some other countries would choose to use bitcoin in place of their own cbdc!!!! – I really think that can be a possibility. It isn’t that big a long shot imo. 🤔
Central Banks are the bane of our lives. They act to devalue our assets to support the profligacy of the governments they represent. – They are def outta control. It’s just a big giant mess. 🤦♂️
I would be open to the idea but banks are hard to trust and they would need to make the best effort to prove they can be trusted with a digital currency. – Lol that be tough after all that’s happened.
Can you imagine the Federal Reserve controlling some kind of crypto currency? They would try to manipulate it to the benefit of the government and it would totally screw over the people. – Lol.
If A) it replaces slips and hard cash I need to hold on too, and B) is used alongside crypto. There no real use for it, if it just replacing my debit card. {So on a blockchain}. Also would you have multi currency wallets and be allowed to move money to gold backed tokens or $ etc at any time. Will have no real value if it just digital form of $, Euro or pound. Very interested in seeing what China comes up with tbh. – I do believe both will co-exist in the future. Pretty cool to see how this all plays out.
goes against ethos of crypto and why I invest in the space – Same.
The whole point of cryptocurrency is to get away from government to be decentralized a fair trade for all no middle man no one sticking their hands out – Power back to the ppl!
CoinMarketCap Daily Newsletter
Bravery
“Cowards die many times before their deaths, the valiant never taste of death but once.”
– William Shakespeare
November is here! Wow, down to the last 2 months of the year. Geez, time sure does fly. I guess it's that time of the year again - for #noshavenovember. Who else is w me? 😂
Today in history (1894), Dr Roux of Paris revealed the vaccine for diphtheria. 💊
In today's newsletter, we will be covering ICE chief saying Bitcoin needing "real use cases" to become digital gold, Binance opening Beijing office amid China’s renewed blockchain push and Swiss crypto bank getting approved for a Singapore banking license.
Today, we will also be covering Grin (GRIN) for our weekly deep dive! Also today in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics!
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! 📚
Choppy days 😴
Over the past 24 hours, markets bounced between a tight range of ~$244.4 billion and ~$248.5 billion, with most coins either seeing gains or losses in the ~1-4% range. Total market capitalization currently stands at ~$244.7 billion. Notable movers of the day are Stellar (XLM) and Decred (DCR), both up up ~7.4% and ~10.5% over yesterday.
BTC is currently trading at ~$9,170, pretty much where it left off yesterday. On the daily chart, BTC is testing its 21-day EMA support line, and RSI is at ~56, indicative of moderate bullish momentum. BTC also got rejected, and failed break to the upside of its lower highs and lower lows trading pattern it has been trading within since late June this year. 👀
The potential is there 🤔
During a quarterly earnings call on 31 Oct, Intercontinental Exchange's chief executive Jeffrey Sprecher commented that while Bitcoin (BTC) might become "digital gold", but it first needs to be used more often in everyday businesses.
Sprecher mentioned that he looks to transactions as the key factor to BTC becoming a long-term store of value, linking the possibility of BTC following a similar path as gold once did as a currency before it became a store of value. 💰
Sprecher also explained the reason for its subsidiary Bakkt to start BTC options; that financial institutions are still wary of entering the space, and many are waiting to see how regulators approach crypto first. And so Bakkt hopes to tackle this issue by providing a more regulated environment in the bitcoin ecosystem.
On the up and up 😄
Malta-based crypto exchange Binance is building an office in Beijing, joining the exchange's existing mainland China office in Shanghai.
Relations between Binance leadership and Chinese authorities seem to have improved as of late, with the exchange publishing a report on the country's plans to create a digital fiat currency and Binance CEO Changpeng Zhao declaring on Twitter this week that he thinks the Chinese central bank positively impacts the cryptocurrency industry. ✔️
Zhao also said via Twitter that Binance has a "few million dollars a day" worth of volume from Chinese users, particularly through the peer-to-peer function that became accessible in China early this month.
Lion city, lion heart 🇸🇬
Swiss-based cryptocurrency bank Sygnum has obtained approval, through the form of a a capital markets services (CMS) license, to deliver banking services in Singapore and to offer its first product to the Singapore market. It has become the first Swiss company to attain the title of cryptocurrency bank and will be targeting accredited investors and institutions via a multi-manager fund. 👍
In a press release, Sygnum head of asset management Stefan Mueller remarked that the CMS license is key to creating their asset management arm, "leveraging the vibrant financial environment in Singapore" and complementing their Swiss banking services to benefit institutional and private qualified investor customers.
Blockchain term of the day 🤓 - Blockchain governance
Crypto deep dive: Grin
The gist of it ⚙️
Why people love it
Why people doubt it
Special announcement 📢 - CoinMarketCap 'The Capital' Global Conference
Here are 5 Reasons to Attend The Capital
Get full access here!
Other news 📰
New data from marketing analysis company SEMRush revealed that Bitcoin (BTC) is the 3rd-most preferred online payment method in Italy. 💳
Cryptocurrency startup Knabu is partnering with one of the earliest enterprise blockchain businesses Factom to pilot bank regulatory reporting. 🏦
Halloween 2019 marks the 11th anniversary of anonymous creator Satoshi Nakamoto's release of the Bitcoin (BTC) white paper. 📄
Crypto calendar 📅
TBA - Justin Sun's lunch with Warren Buffett
What's up in the markets
Poll of the Day
How much do you agree with this statement: "Bitcoin (BTC) has already proven itself to be a viable store of value."
Why or why not? Share with me in the polls!
What you said
"How much do you agree with this statement: "I would support my own country's central bank digital currency (CBDC) if they released one."'
The average vote was 5.7. Interesting... 27.7% of y'all voted a '1', and 27.7% of y'all voted a '10' too!
"Why or why not?"
See you again on Monday!
Just, go 👍
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