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Your daily newsletter for 6 December, 2019

“Happiness is a choice that requires effort at times.”

- Aeschylus

 

In today's newsletter, we will be covering:

  • Deutsche Bank research saying crypto replacing fiat currencies by 2030

  • Microsoft announcing token collectibles on the Ethereum blockchain

  • South Korea telecoms giant ramping up blockchain roaming deal with China

 

Today's newsletter is our 350th! Another milestone fam! Thank you my lovely readers for your continued support. Let's continue to grow together! 🥂

Daily Market Summary - Bullish 📈

 

Total Market Cap: ~$201.3 billion (~1.8%)                  BTC Price: ~$7,440 (~1.6%)

24-Hour Volume: ~$58.2 billion (~19.05%)                 BTC Dominance: ~66.8% (~0.3%)

Notable movers: EDUCare (EDU) (~16.6%), Enigma (ENG) (~18.2%), Enjin Coin (ENJ(~27.5%)

 

 

BTC is currently trading at ~$7,440, up ~1.8% over yesterday. In this week, BTC has been seen trading within a tight range of ~$7,180 and ~$7,540. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and RSI is at ~40, indicative of moderate bearish momentum (although some bullish momentum has been picking up). The MACD line has also recently crossed to the upside of the signal line. 

 

 

BTC is still trading within its lower highs and lower lows trading pattern/ channel/ zone it has been trading within since late June this year. 👀

Total Market Capitalizations

Poll of the Day

How much do you agree with this statement: "I still enjoy reading this newsletter each day."

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

Bold predictions 💭

 

 

According to recent research done by Deutsche Bank in a "Imagine 2030" report, the demand for digital currencies will increase by 2030 and will eventually replacing cash. 

 

 

In the report, Deutsche Bank strategist Jim Reid raised awareness of the obstacles the current fiat system has met in recent years, especially with the introduction of cryptocurrencies. Reid specified that people's increased demand for dematerialized methods of payment and anonymity could push more individuals towards digital currencies. 🗒️

 

 

Reid also says that to gain widespread acceptance, digital assets need to overcome major hurdles such as the perceived legitimacy in the eyes of governments and regulators, which entails price stability and global reach in the payment market.

Rewarded for your efforts 🏆

 

 

Microsoft's blockchain-enabled cloud platform, Microsoft Azure, recently announced "Azure Heroes" blockchain non-fungible token (NFT) collectables meant to reward positive behavior in its developer community. 

 

 

The tokens represent cartoonish badgers and are available in a limited supply ranging from 100 to 10,000 units, and will be used to recognize community members "for verifiable acts of impact such as coaching, creating demos, building sample code, blogging about Azure or completing certain challenges". 👍

 

 

The NFTs were created on the Ethereum blockchain in partnership with blockchain gaming startup Enjin, and will continue to be minted each season. The limited quantities will be publicly verifiable and distributed using a QR code that prompts the receiver to install a wallet.

Ramping up

 

 

South Korea's biggest telecoms provider, KT Corporation, is making strides with regard to a collaboration with China Mobile that aims at blockchain technology and 5G roaming. 

 

 

KT is already preparing to debut 5G roaming capabilities in China later this month. 🇨🇳Both companies are working on a blockchain system, B.Link, that will let them save time and costs when computing roaming charges for mobile users at the same time. 

 

 

The B.Link system can "self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis."

Other news 📰

 

  • Hardware wallet producer Ledger has hired Charles Guillemet as Chief Technology Officer (CTO). 👮

  • China's Hainan Free Trade Zone (FTZ) pledges funds worth 1 billion yuan ($142 million) in support of blockchain. 💵

  • A popular Ethereum decentralized exchange (DEX) for ERC-20 tokens, IDEX, is launching a new DEX atop a layer 2 scalability protocol, Rollup technology. ⛽

Blockchain term of the day 🤓 - Escrow

 

An escrow is a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. This is possible to be automated using smart contracts on the blockchain.

Crypto deep dive: Chainlink

  • Cryptocurrency: LINK 
  • Market Capitalization Rank: 18th (~$569 million)
  • Consensus: Proof of Work (PoW)
  • Notable Supporters: Brian Lio (Smith + Crown CEO), Jake Brukhman (former Triton Research CTO), Evan Cheng (one creator of LLVM), and Ari Juels (Co-director of IC3)
 

The gist of it ⚙️

  • Chainlink is a blockchain-based middleware that provides a decentralized oracle service and acts as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, web APIs, and traditional bank account payments.
  • This of Chainlink as an application or services that interfaces blockchains with the real world. 
 

Why people love it 😘

  • Chainlink has a partnership with SWIFT, the largest global provider for secure financial messaging (transactions). This partnership could grant them network access to a plethora of large banks and high profile institutions around the world. 
  • Chainlink is tackling a huge stumbling block in blockchain known as interoperability. If successful, there is significant upside due to the its large addressable market. 
  • From a price perspective, LINK has been pretty resilient in this bearish market and has been sneakily crawling its way up the rankings in the past few months. 
 

Why people doubt it 🤔

  • A huge selling point of Chainlink is its partnership with SWIFT. This could lead to an over reliance on it which, could have very adverse effects on its network/ existing partners should the partnership dissolve in the future. 
  • Chainlink's success is largely dependent on attracting institutions to utilize its technology, which means strong networking initiatives are required. 
  • Some argue that Chainlink does not have sufficient marketing initiatives. 

Crypto calendar  📅

 

TBA         - Justin Sun's lunch with Warren Buffett

What you said

 

"How much do you agree with this statement: "I am against the idea of Central Bank Digital Currencies (CBDCs).""

 

The average vote was 6.7. 43.9% of y'all voted a '10'! 

"Why or why not?"

 

 

 

Central banks are in the core of corruption in our society. – Print print print! 💸

 

 

I'm very against it, for simple reason that it just a way for governments to track people's movements even more(some might argue this as good). If right to privacy and freedom and liberties aren't negatively impacted by it, sure, brilliant, bring it. {and i know BTC can also be traced, but that is illegal activities being traced mostly,}. I just don't trust government enough. – I want more privacy! And more awareness on the importance of it! 🤓

 

 

They wish to control our digital currency like BTC. We want them out of any controls they wish to exercise. – What do we gotta do so get some decentralization in this joint! 😂

 

 

I'd have put 10 outright as my answer (they at least deserve a shot to convince me), but yeah. There would have to be a really good reason/incentive given as to why I would want any; why anyone would. Seriously, consider the source, sheesh. They can free airdrop me that shizz if they want my attention, ha ha! – Lol @ airdropping some CBDCs 😂

 

 

I believe the banks shouldn't have any influence over payment options whatsoever. – Make it decentralized!

 

 

i don't mind CBDCs.. i think it will be good for eco system. there will be CBDCs & decentralised coins people will be free to choose. it will bring more awareness & also talent to blockchain.. – I wonder if it will be an overall net good for the crypto space? 💭

 

 

They make decentralized tech look unimportant with their centralized backed tech, but i hope they bring a lot of people to the blockchain community... – I hope people become aware of the importance of privacy and power of decentralization. 🙏🏻

 

 

 

10 out of 10. Other than an investment opportunity, the major appeal of crypto (to me) is decentralized currencies not controlled by banks/governments. This means no central banks – Same.

 

 

It's similar to what happened with the Internet. First the Internet was a niche place for nerds and computer experts, then along came big commercial companies like Google, Facebook, Amazon etc and exploited it. I can see parallels with digital currencies - central banks and governments "stealing" the idea and "invention" of cypherpunks, going against the very reason Bitcoins and cryptocurrencies were created for. – Gonna be interesting to see how it all pans out. 👀

 

 

inevitable and gives the control megalomaniacs their control, of course they will put the great spin on greater security, cashless society, deter money laundering blah blah blah... but we all know don't we!!! - Sighh 😔

 

 

i believe crypto should remain out if the clearly past and failed banking system. Banks have manipulated conventional money markets off the backs if hard working people. Crypto should remain in the domain and controls of the common people. Which is why it was established in the first place. – Yeah.. A cashless society where cash is controlled by the government is scary. They can ‘disable’ any member of society at will. 😲

 

 

Call me a contrarian but I think that for cryptocurrencies to be viable and usable as regular cash fiat currencies they have to be centralized, not distributed among miners. – Hmm, would love to hear why you think so? Do share in the next poll! 😄

Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙

See you again on Monday!

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