CoinSheet - Aug 24, 2017
QUOTE OF THE DAY
“Time is a game played beautifully by children.”
—Heraclitus, Fragments
COIN BULLETIN
In ICO Hack News
Remember how a few weeks ago we talked about CoinDash getting hacked (hackers changed the address on its website and made over $9 million)?
Well...a hacker basically did the same thing to Enigma before its ICO, netting over 1,500 Ether (about $500k's worth).
You can read an article about this here.
Acting Like Banks
According to Quartz, "China’s two biggest Bitcoin exchanges (Huobi and OKCoin) helped themselves to $150 million in idle client funds."
(The exact same thing the bad banks and bad hedge funds do when you give them your money.)
You can read an article about this here.
The League Of Mini-Nations
Walmart, Kroger & Nestle are collaborating with IBM to come up with a blockchain solution to fight food poisoning.
You can read an article about this here.
THINGS I LIKE
Applying Common Hedge Fund Strategy To Bitcoin
Philipp Kallerhoff looks into whether or not a common hedge fund strategy can be applied to Bitcoin in order to reduce investment risk.
By testing his strategy on Bitcoin since its inception he concluded that it seems to work pretty well. For example, "if the Bitcoin market price increased 200% over 60 days, then the momentum strategy made about 200% as well. However, if bitcoin lost 50% in 60 days, then the momentum strategy lost on average only 10%."
However, strategies aren't perfect, so there were a few catches (i.e., his strategy doesn't work very well in markets that move sideways).
TL;DR - It's plausible.
You can read the full article here.
Ethereum Ecosystem & Segwit Ecosystem
ecurrencyhodler writes about the "The Two Emerging Ecosystems in Crypto" (and their underlying philosophies for growth).
You can read the full article here.
An Article You Can Forward
Joe Ippolito wrote an article titled "Bitcoin and digital currency: A guide for your Mom."
I think someone who doesn't know much about cryptocurrencies might like this article.
You can read the full article here.
MARKET SENTIMENT
Technical Signals
Bitcoin dropped below the 4-hour kumo (that green cloud thingy) and Bitcoin prices dipped below $4,000 to hit a 7-day low.
Since the drop, we've entered back into the green cloud, and our new big resistance will be the top of the kuma (green cloud).
My Current Sentiment: Neutral
Daily Number Indicator
This is a number indicator is used for identifying trends, measuring momentum and spotting areas of price exhaustion. Read more here.
Want To Connect? Have Questions?
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