📌 Burning Money, ICO Refunds, and China’s Plan to Sideline Bitcoin


A Glimpse of Reality

In a week without any major breaking news or headlines, we wanted to share a couple eye-opening Twitter threads instead. These are some pretty good reads as we’re still stuck in bear market trenches. 🐻❄️

The first is a touching and humbling tale from Peter McCormack. Hear the story of how he made $1.2M from $32k and then lost it all. There’s a lesson in here for all of us.

Secondly, as the crypto skeptics quip and rub their tummies at sub-$4K BTC, here’s a thought-provoking counter from Dan Held that disposes all the common critiques – from manipulation and complexity to energy consumption.


🔥💰 Meet The Money Burners

In 1994, a British band called the KLF burned £1 million on the remote Scottish island of Jura. This act triggered a series of cosmic events that eventually changed the life of one of the Ethereum architects, Vinay Gupta.

Connecting the dots in between is a porn site, a sci-fi masterpiece writer whose life changed thanks to LSD, and lots of crispy currency…


🎄 12 Days of Coinbase

Today marks Day 10 of Coinbase’s 12 Days of Coinbase – a promotional campaign where the exchange is introducing new offerings day-by-day to the public (catch all their offerings here). So far, the campaign continues to receive media attention for each day of its release, but it’s been this week’s (Days 8-10) bag of tricks that sent the birds chirpin’…

  • This one’s actually pretty neat (for those who don’t already use more robust exchanges): Coinbase’s newest feature – dubbed Convert – will let users directly convert between Bitcoin, Ethereum, Ethereum Classic, Litecoin, 0x, and Bitcoin Cash. Coinbase will charge 1% of the total transaction amount for the service.
  • Then, yesterday, Coinbase announced they are adding 4 new tokens on Coinbase Pro (formerly GDAX). If history gives us any indication, it’s safe to assume these tokens may end up on the main exchange soon.
  • Today, Coinbase introduced Earn – allowing users to earn cryptocurrencies, while learning about them in a simple and engaging way. The idea is for users to understand more about an asset’s utility and its underlying technology, while getting a bit of the asset to try out. Gotta love @hasufly’s rebuttal on this one…



S&P 500 Reported 2% Gain, Yet the Greatest Day in Stock Market History is Still to Come…

Circle February 4, 2019, on your calendar.

It’s likely this day will go down as the greatest in stock market history.

Or at least, the most profitable.

You see, thanks to a recent Supreme Court ruling…

Over $4 billion will move into this industry, and three very specific stocks are positioned to take the lion’s share.

And it’s all going to happen in one day.

Simply put, if you get in now, you could make 3x, 5x, even 10 times your money.

So how can I predict—weeks in advance—what will be the most profitable day in the stock market’s history?

To get all the details, click here.



Number of Crypto Users Doubled in 2018 Despite Bear Market

In another informative report about the cryptocurrency landscape, University of Cambridge just released their 2nd Global Cryptoasset Benchmarking Study.

One for the naysayers“The number of verified users of cryptocurrencies almost doubled in the first three quarters of the year even as the market bellwether Bitcoin tumbled almost 80%.” Users climbed from 18 million to 35 million this year.


Introducing Realized Capitalization

Borrowed from the world of equities, “Market Capitalization” is often an empty metric when applied to cryptocurrencies (something we’ve touched on in the past).

Unlike with equities, large fractions of cryptocurrencies tend to get lost, go unclaimed, or become otherwise inert through bugs.

Enter, Realized Capitalization – the new “market cap” of crypto that makes MUCH more sense, courtesy of CoinMetrics.



Our Dystopian Nightmares Are Coming True: China’s Plan to Sideline Bitcoin 🇨🇳

When Satoshi Nakamoto introduced Bitcoin to the world in 2008, he or she or they (the mystery endures) pitched it as a way to end the power of central authorities in finance.

Ten years on, the Chinese government is adapting the ideas behind Bitcoin to do the exact opposite.


Bain-Backed Crypto Startup Closes as Securities Laws Bite Crypto, ICO Refunds Possible

ICO refunds have been the hot topic in the world of regulation this week, particularly after Basis – a high-profile stable coin project – announced they’d be shutting down and returning capital back to investors.

Could this be the fate of every ICO project? Here’s both Pantera Capital and Jake Chervinsky on the issue.

“Approximately 25% of our fund’s capital is invested in projects with liquid tokens that sold to U.S. investors without using regulation D or regulation S…”




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