Crypto Daily Briefing – 08 March 2018

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Yesterday was a whirlwind day in the world Crypto. Prices have been all over the map and for a range of reasons – which is right? I dunno. Let’s take a look:

  1. Cointelegraph says Bitcoin price hits 2018 lows because of $400 mln Mt. Gox Sell-Off
  2. Cryptovest says Crypto prices slide as SEC demands exchange registrations
  3. Forbes says Bitcoin drops below $10,000 as traders suspect the Binance hack
Of course, there is still talk about Ripple being the next Bitcoin. They are continuing to make moves that positioning them well with the banking industry. Even with all of this crazy volatility, there are still 5 ways in which Crypto is doing good in 2018 and beyond; I don’t agree fully with them all but here they are:
  • Venezuela’s Crypto Embrace Lets Everyone Pay for Goods
  • The UN Deploys Blockchain to Boost Sustainability
  • Empowering Shoppers
  • Reaching the Unbanked and Under-served
  • Enabling Small Businesses
Could the arrival of SegWit be Bitcoin’s saving grace? The Emerging trend of Bitcoin for Retirement funds could be why wealthy investors are moving towards the Cryptocurrency market and they are not alone. Telecom giant Comcast who is leading a $3 Million seed round for Blockchain Startup Blockdaemon. Now some analyst believes that there are 7 reasons to sell your Ethereum, but can anything replace Ethereum? Stellar Lumens (XLM) looking strong for 2018 after team announces updates. There are 3 reasons Stellar might find the momentum to soar despite the lukewarm Crypto market. Overall, Steve Bannon believes Cryptocurrency will eliminate “slave wages.”
Pricing, being what it is, looks like women are powering the blockchain.In the US, Cryptocurrency trading platforms must now be registered with the SEC. Bittrex list TrueUSD to compete with Tether’s USDT. The big question will be are Tethers are a scam or not? It was reported that Binance could have gotten hacked but new information has been revealed that it was not hacked. New DDoS attack delivers an extra payload: A Cryptocurrency ransom note. Best practice is to keep your Crypto off exchanges and onto hardwallets unless you are actively trading.The regulatory scene is causing grief. US and Foreign regulators are teaming up on Crypto. The SEC wants to regulate Bitcoin, and the market is not liking it at all. Of course, the big question will be will ICO issuers face lawsuits in the near future? New Jersey demands ICO endorsed by Steven Seagal to stop selling to residents. There is now a platform to weed out scam ICOs and help investors thrive.

Globally, In Austria, Vienna University of Technology to launch Multi-Blockchain transfer system, Japan’s FSA suspends two Crypto exchanges, Bitcoin Mining puts two Australians in police crosshairs, Ripple announces partnership with Cambridge Global Payments in Cambodia, Bithumb plans to install Bitcoin ATMs and Kiosks in South Korea, Russia to criminalize Bitcoin use as money substitute as Putin rolls out new law, and lastly Venezuela picks FX Platform to auction Petro “oil-backed Cryptocurrency.” If you have time and the attention to read more click HERE for all the articles from the past 24 hours.

WARNINGS. As many of you are aware BitConnect have been proven to be pretty much a scam/ponzi scheme type organization. Please do not fall for their second attempt “BitConnectX ICO” to create yet another scammy type operation. The following organization (USI-Tech, WCI, and BitClub) still should be handled with caution. Engage at your own risk!

Happy Investing and Trading!

BONUS: Will Warren of 0x on Why Decentralized Exchanges Are the Future