Have been very strategic and prepared over the last 7 years. – They’re legit taking over. 💪
if they push for their own crypto currency. We'll see it. – No doubt. The rest of the world should take note. 👀
Like what do you think a one dollar bill would be worth if there could only be 21,000,000 of them!!!! wake up to reality!!!! – Lol true, theoretically BTC’s limited supply should result in a higher price w the same demand, over time. 📈
China will dominate 22 century – Seems like it. The tides are changing. They are already dominating social media and ecommerce, and this is within closed doors too. 🤯
i think china will have a first mover advantage. also the large population will bring more value to blockchain. – Yeah, it’s scary what they can do.
I don’t think so because it’s a currency that can’t be dominated by a country IMO. – Well perhaps not the permissionless realm, but I think they have the potential to dominate the permissioned blockchain space. 🤔
China is keen on all new perspective technologyes – True. They do see the value in the digital age. 🤑
China is moving first to exploit blockchain technologies. – Yup.
They are less worried about how to tax cryptocurrency and more focused on identifying and taking advantage of its benefits – Unlike the U.S… 😂
China will no doubt be progressive in the space because of its % population within technology. However, we should not underestimate other nations. I believe crypto is very much the hare and the tortoise. – Def, the other Asian nations are doing really well too. 👍
That could be very likely. China already acknowledged the importance of blockchain and could use it make their economy even more competitive. They want economic world dominance and could see blockchain as the missing puzzle piece. – Yeah that does make sense. I think they just want to be on the cutting edge of all these digital stuff as they see the potential in them.
china has always been good with everything tech so yeah, it won't be a shock if they dominate it... – Agree. 👍
Have been to slow out of the starting blocks and will always be centralised /controlled. This is so not what crypto is about. May dominate mining BTC in short term but that's not going to influence the industry! – Well they may not control the permissionless space, but I certainly think they have a shot at the permissioned blockchain space. 🤔
China is at the forefront of world domination of almost everything that has global connotations that they can impact to their own advantage – They’re def doing a good job.
Not a chance. While the Chinese government is certainly attempting to have control in this area, it is simply an effort to maintain control over the people of China. From an outsiders view, the people of China have woken up and are not accepting this type of control anymore. It will be very interesting to see what happens for sure. Most of the world is squarely on the side of the Chinese people, not the Chinese government. - What can they do though, really. The CCP is too strong and has its hands in everything.
They’re way more progressive in their mindset to dominate this space, especially when they peg their currency to real gold. They’ll reset the value of money globally all via blockchain. And when that happens, they’ll shift the world, and set the stage on the power / utility of the chain. Thus dominating the space. – Don’t think the CBDC will be backed by gold. I’m guessing it’ll be backed by central bank deposits from commercial banks and institutions. 🤔
Yes, well it will be whoever implements it best first, the beauty of blockchain is, everything can be on there. not just monetary {currency} value. Some other country might utilize the power of blockchain better, But I do believe first to party will grow best in space. Will be interesting to see what exactly China puts on the blockchain as they are renowned for privacy and human rights violations. And what will other countries take from that. – Gonna be an interesting next 5 years for sure, as the industry starts to really take shape. 😄
China always are 20 steps ahead. Europe and America are just to slow. – It certainly feels that way.
Population and desire to dominate global markets – The nation seems to be so laser-focused. 😵
CoinMarketCap Daily Newsletter
Overcome
“The only use of an obstacle is to be overcome. All that an obstacle does with brave men is, not to frighten them, but to challenge them.”
– Woodrow Wilson
Day 2 of the week ma homies. Hope y'all didn't let the Monday blues get to ya. Keep that momentum going for November! 🏎️
Today in history (1912), Woodrow Wilson was chosen as the 28th President of the United States. 🙋♂️
In today's newsletter, we will be covering Stellar Foundation destroying half the supply of its lumens (XLM) cryptocurrency, the India Defence Minister saying blockchain, big data and AI will revolutionize the future of warfare and Microsoft unveiling the platform for minting enterprise-ready crypto tokens. 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! 📚
Rising volumes 🤔
Over the past 24 hours, total market capitalization rose to ~$253.4 billion earlier on in the day before slipping back down to ~$251 billion where it currently remains. Most coins are either seeing gains or losses in the ~1-4% range. 24-hour volume registered ~$96.5 billion - Volume has been steadily picking up over the past week. Notable mover of the day is Stellar (XLM), currently up ~17.9%.
BTC is currently trading at ~$9,290, up ~0.6% over yesterday. On the daily chart, BTC is still holding above its 21-, 50- and 100-day EMA support lines, and RSI is at ~58 (been in that region over the past week), indicative of moderate bullish momentum. BTC's 21-day EMA line has also crossed to the upside of its 50-day EMA line. BTC continues to be trading within its lower highs and lower lows trading pattern it has been trading within since late June this year. 👀
Poll of the Day
How much do you agree with this statement: "Would you prefer for this newsletter to be more condensed?"
Why or why not? Share with me in the polls!
Burn 🔥
On 4 Nov, Stellar Development Foundation CEO Denelle Dixon revealed at the Stellar Meridian conference that the business burnt over 55 billion of its XLM tokens that make up more than half of its supply. 😁
The motivation for the move arose from the difficulty in getting the lumens they held into the market, and from the belief that it would be better to estimate how much it would really use "over a 10-year period and calibrate to that number".
This news was positively received by the crowd of about 200 attendees, many who most likely owned the token. 1 participant even stood up and requested the rest to applaud Dixon, which they did.
New warfare 🤼♂️
Indian's Defence Minister Rajnath Singh thinks that blockchain technology, artificial intelligence (AI) and big data will be a big part in the future of warfare, and believes they have already "revolutionized the existing paradigm of warfighting".
This comes as part of his speech to a range of delegates from 80 countries in Delhi on 4 Nov that highlighted blockchain, AI and big data's potential in defense operations. ⚒️
Singh further said that digitalization is the key to future security scenario based on the application of digital technologies in defense manufacturing as the spectrum of warfare is transitioning from the traditional land, air and sea to cyber space and the space. Singh added that the defense industry is experiencing "a churning to cope and employ these technologies" to ensure the safety and security of important infrastructure.
One plug for all 🔌
In a statement following the 4 Nov announcement of the Azure Blockchain Tokens platform, principal architect at Microsoft Marley Gray, says that Microsoft wants the creation process of blockchain tokens in the cloud to be as simple as "plugging in a printer". 📢
Gray explained that existing enterprise-oriented cryptocurrency tokens suffer from the same pitfalls as the printers of yesteryear, in that they had a mishmash of printer types with their respective device-specific drivers.
The Azure platform allows companies to choose from a growing set of token-building templates that adhere to the Token Taxonomy Initiative (TTI) - a standards push and enterprise association lead by Gray.
The TTI has progressed further than other enterprise plays by getting various competing blockchain factions like IBM, R3 and even Ethereum (ETH) variants under one umbrella.
Blockchain term of the day 🤓 - Spot market
A public market in which cryptocurrencies are traded for immediate settlement. It contrasts with a futures market, in which settlement is due at a later date.
Tutorial Tuesday 🤓 - 'What is a Lightning Network?'
In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'What is a Lightning Network?' Class is in session. Check it out here!
Special announcement 📢 - CoinMarketCap 'The Capital' Global Conference
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Other news 📰
Chinese multinational telecommunications and consumer electronics leader Huawei has signed a strategic cooperation agreement with the digital currency research unit of China's central bank, the People's Bank of China (PBoC). 🏦🇨🇳
Deutsche Telekom's Blockchain-as-a-Service service business, T-Systems, has signed a memorandum of understanding with a Maltese government agency that supports business development, Malta Enterprise. ✍️
The total number of accounts created on blockchain network TRON has passed 4 million after South Korean tech giant Samsung added TRON support to its decentralized app store. 🏪
Crypto calendar 📅
TBA - Justin Sun's lunch with Warren Buffett
What's up in the markets
What you said
"How much do you agree with this statement: "I believe that China will eventually dominate the blockchain space.""
The average vote was 7.4. 36.5% of y'all voted a '10'.
"Why or why not?"
See you again tomorrow!
Trudge on and overcome 💪
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