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Burger King now accepts crypto

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Your daily newsletter for 6 January, 2020

“The happiness of one's own heart alone cannot satisfy the soul; one must try to include, as necessary to one's own happiness, the happiness of others.”

- Paramahansa Yognanda

In today's newsletter, we will be covering:

  • Ethereum's block time reducing by 25%

  • Bitcoin-friendly generations going to inherit $70 trillion

  • Burger King Venezuela starting Bitcoin payments in 1st of 40 stores

Daily Market Summary - Bullish 📈

 

Total Market Cap: ~$201.4 billion (~3.6%)                     BTC Price: ~$7,550 (~2.9%)

24-Hour Volume: ~$70.3 billion (~14.6%)                      BTC Dominance: ~68.0% (~0.6%)

Notable movers: Dogecoin (DOGE) (~18.5%)Beam (BEAM) (~14.2%)   


 

BTC saw a slow steady climb over the weekend, and is currently trading at ~$7,550, up ~2.4% over the weekend. On the daily chart, BTC broke to the upside of its 100-day EMA line over the weekend, and is currently contesting its 50-day EMA line. RSI is currently at ~56, indicative of slight bullish momentum. On the weekly chart, BTC held its 100-EMA support line. The MACD line looks to be approaching to cross to the upside of the signal line, something we have not seen since early Feb 2019!

 

 

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. It is currently testing the lower bound. 👀

Total Market Capitalizations

Poll of the Day

How much do you agree with this statement: "The next global recession will be the true litmus test of Bitcoin as a viable store of value"

1
2
3
4
5
6
7
8
9
10

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

Faster block times

 

 

Following Ethereum's recent Muir Glacier hard fork meant to delay the Ethereum ice age, the average block time on the Ethereum blockchain decreased by nearly ¼ after the mining difficulty was decreased. 😊

 

 

Ethereum block explorer Etherscan reported data that showed a decrease in the average daily block time from 17.16 seconds to 12.96 between 1 Jan to 4 Jan, or a 24.48% shorter block time.

 

 

This shorter block time led to a higher number of blocks mined daily and a higher Ether (ETH) inflation. 

 

 

Etherscan's Ethereum block count and rewards card showed that miners created 4,980 new blocks and 10,237 ETH on 1 Jan, as compared to 6,570 new blocks and 13,437 ETH on 4 Jan, equating to almost 32% more blocks and 31% more block rewards.

Wealth transfer💰

 
 

Digital asset management company Coinshares revealed in a November 2019 report that Bitcoin (BTC)-aware millennials will inherit nearly $70 trillion of value from the Baby Boomer generation by 2045. 💰

 

 

Financial mismanagement by governments and central banks, coupled with their encouragement of spending and borrowing instead of saving has led to debt characterizes modern-day finances to a greater extent compared to 60 years ago. This has led to a shift in preference from low time to high time horizons in terms of saving for the future instead of spending to counteract depreciation. 

 

 

The report suggests that $68.4 trillion will be transferred to Generation X, Millennials and Post-Millennials over the next 25 years. Additionally, almost 50% of BTC holders are from the 25-to-34-year-old demographic.

Burger King store accepting crypto 🍔

 

 

Burger King in Venezuela has opened up to cryptocurrency payments after a partnership with Panama-based crypto merchant gateway startup, Cryptobuyer. 

 

 

This has resulted in 1 branch in the Sambil area of Caracas accepting Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Litecoin (LTC), Binance Coin (BNB) and Tether (USDT). 🎉

 

 

According to a recent blog post from Dash executives, a total of 40 locations will also do the same in 2020. 😱

Other news 📰

 

  • China's National Intellectual Property Administration (NIPA), which responds to the needs of development for new industries like blockchain, has announced revised guidelines to such patent applications that will take effect on 1 Feb. 🗓 

  • Medical cannabis firms like WeedMD and Harvest One Cannabis are rushing to sign up for the TruTrace-developed StrainSecure platform. Immutable and cryptographically-secure, it tracks products from seed-to-sale, allowing cannabis producers to facilitate improved trust among customers. 🔐

  • Co-Founder and CEO of U.S.-based crypto exchange Coinbase, Brian Armstrong, thinks that a "privacy coin" or blockchain with built-in privacy features will go mainstream in the 2020s. 👍

Blockchain term of the day 🤓 - Block height

 

The number of blocks preceding the block in question on the blockchain, or can be thought of as total blocks in the chain before this point.

Crypto calendar 📅

 

11 Jan   - CryptoNight 2020 (Chile)

15 Jan   - Crypto Finance Conference (Switzerland)

15 Jan   - The North American Bitcoin Conference (Miami, U.S.)

20 Jan   - Blockchain Economic Forum (Switzerland)

21 Jan   - CV Summit Davos (Switzerland)

25 Jan   - The Genesis Block Conference 2020 (Bangalore, India)

TBA        - Justin Sun's lunch with Warren Buffet

What you said

 

"How much do you agree with this statement: "DeFi will be the cause of the next bull run""

 

The average vote was 6.3. 18.2% of y'all voted '1', and 27.3% of y'all voted a '10'!

"Why or why not?"

 

 

Banks, governments, et all are FINALLY catching on and planning some big tings! This could be pretty interesting. – Gonna be interesting to see how everything pans out in the coming years. 👀

 

 

it's an important factor – I think so too. Just take a look at how much ETH is being locked up in it at the moment (~3% of the total supply) 🤯

 

 

The more Blockchain gets used the Better – Network effect! 🕸️

 

 

Fairly predictable income generation will bring rational valuations to tokens, protocols and platforms in the crypto market. DeFi includes various types of decentralised financial staking, such as in Proof of Stake nodes, liquidity pools and lending pools, which then become the source of continuous finance for operating open protocol financial service dapps. The combination of decentralised profit share and the disintermediation of financial services will see steady growth. Speculative fast growth will be focused on those consumer facing dapps able to capture market share from centralised financial services. We will see competition will be between DAO backed projects and venture backed projects. - Agreed. Great assessment. 

 

 

defi is going to be big.. & will generate lot of interest in crypto & blockchain. - Already is! 😉

 

 

No one thing will cause the next bull run. There are a lot of things that will help spur it but basically everything runs in cycles and it will start when everyone who wanted to sell has already done so and all that are left are buyers. – Hmm, so you’re saying a bull run will happen simply because it’s part of the market cycle. I disagree – look what caused the previous bull run. There is usually a catalyst. 💥

 

 

DEX, will offer more suitable trading, Private key owned by traders, therefore Crypto not on exchanges providing more suitable and preferred security, which will be understood and required before any bull run – I absolutely love the idea of DEXes, but I think a huge educational gap first needs to be closed for new blood to understand the importance of them. 

 

 

Cryptos will show its usefulness in financial sector as means of exchange and store of value and not just wild speculation. – I have full faith that it will. All in due time… 😊

 

 

If you asked me this yesterday, I would have said yes {10}, today{7}, although I still think it plays a mayor part, I will say, I think bigger reasons will come into play, people looking for a store of value firstly. And only secondly DeFi, although DeFi should be a great reason for anybody to enter market. – Yeah, perhaps it could be a catalyst and not the underlying cause of it. 😄

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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