CoinSheet - Aug 25, 2017
CoinSheet - Aug 25, 2017
QUOTE OF THE DAY
“The intelligent man finds almost everything ridiculous, the sensible man hardly anything.”
—Johann Wolfgang von Goethe
COIN BULLETIN
The Battle Has Just Begun
Remember how a you thought we were done talking about Segwit? Well nope, we just took a little break.
Bitcoin's battle over Segwit2x has just begun.
Here's a refresher. Bitcoin has gained a lot of traction within the past year, and as a result the time to process a transaction with Bitcoin has been increasing. Because Bitcoin transactions take a long time to confirm, it's hard for Bitcoins to be used like you would use any other currency. Imagine going to Starbucks and expecting to pay with Bitcoin and having to wait 3 hours after you order your fancy frappuccino because you're waiting for the transaction to confirm. That would be a problem wouldn't it?
Segwit is here to try and solve some of these scalability problems with Bitcoin. Segwit enables Bitcoin to process more transactions. You can read more on how this is done here.
You can read an article this battle here.
Busted
After years of investigation, the feds bust one of AlphaBay’s largest drug rings.
Prosecutors accuse six southern Californians of selling more than $7 million dollars' worth of narcotics on the two notorious underground websites.
You can read an article about this here.
They're Coming For You
Apparently the IRS has special software to find Bitcoin tax cheats. Fortunately, I do my taxes because I am scared of the tax man.
You can read an article about this here.
Crypto Boss Cuban
Billionaire investor and Bitcoin doubter Mark Cuban is coming around on cryptocurrency. Looks like Mark Cuban invested in a newly launched crypto venture fund "1confirmation."
Here's an article from Fortune about it.
THINGS I LIKE
E-Stonia
Kaspar Korjus writes about Estonia and how it considers offering ‘estcoins’ to e-residents.
The proposal to issue crypto tokens would make the Republic of Estonia the first country with an Initial Coin Offering (ICO).
You can read the full article here.
Hacking Coinbase
Great article from Fortune about Coinbase.
Did you know, Coinbase's fraud rate costs them a stunning 10% of all revenue it collects, a fraud-loss rate 20 times as high as PayPal’s. That is bonkers.
Oh, and "Coinbase is considering arming its customers with YubiKeys, physical authentication devices (shown below) that would function as a second layer of account protection in lieu of text-messaged codes." Yes PLEASE.
You can read the full article here.
YubiKeys
Hijack Your Base
I like this article from NYTimes titled Identity Thieves Hijack Cellphone Accounts to Go After Virtual Currency.
Hackers have discovered that one of the most central elements of online security, the mobile phone number, is also one of the easiest to steal.
You can read the full article here.
MARKET SENTIMENT
Technical Signals
Yesterday Bitcoin dipped to around ~3,600 and is now sitting comfortably at around ~4,200.
My Current Sentiment: Bullish
Watchlist: BTC, LTC, NEO, OMG, MNO.
Daily Number Indicator
This is a number indicator is used for identifying trends, measuring momentum and spotting areas of price exhaustion. Read more here.
If this latest candle closes as a "Green 1," it would end this 5 day bearish trend.
Want To Connect? Have Questions?
Let me know on Twitter @dmitriy_or_dima.
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