📌 Circle swings for the fences, the Venezuelan bitcoin mining world, and your chart of the week

MUST READS


Circle Acquires Poloniex

Circle, one of the world’s largest “over the counter” trading desks for users wishing to trade over $250,000 worth of cryptocurrencies, has announced the acquisition of Poloniex for $400 million. This acquisition has immediately made Circle a rising threat to Coinbase and other large exchanges.

Extortion, Police Raids and Secrecy: Inside The Venezuelan Bitcoin Mining World

Like a story straight out of a spy novel, an anonymous bitcoin miner known as Mr. X, explains the lengths that the Venezuelan people are going to in order to mine bitcoin and how the government and local police are confiscating the mining equipment for their own use.


SPONSOR CONTENT BY SERAPH VC

Your Last Chance to Join an exclusive gathering of some of the smartest minds in crypto. Global investment syndicate, Seraph VC, is hosting a 3-day event in Austin, TX exploring the cutting edge of the crypto-asset space. Speakers include the founders of Factom (FCT), ZenCash (ZEN), Unchained Capital & more. Get your tickets here.


[Podcast] Emerging Frameworks for Cryptoasset Investing

In last week’s newsletter, we highlighted Multicoin Capital’s article on new models for utility tokens. If you didn’t get a chance to read it, this podcast is a great recap of the ideas presented. Kyle and Tushar of Multicoin also get into why they are bearish on bitcoin.

Wikipedia Cofounder Will Help Build New Encyclopedia on the Blockchain

Larry Sanger, the cofounder of Wikipedia, is now backing a competitor to his original creation — one that will see its data stored and verified on the blockchain — Everipedia. Learn more about Larry’s newest venture with this interview featuring the co-founder of Everipedia, Mahbod Moghadam.

DEEP DIVE


The Inside Story of the CryptoKitties Congestion Crisis

After launching in October 2017, Cryptokitties, the playful experiment of blockchain technology where users can breed and trade digital kittens, nearly took down the Ethereum network. As the project went viral and transactions grew, many feared that the entire Ethereum blockchain would collapse…

Here is the inside story of how a team of Ethereum developers came together and alleviated the issue while also laying out a roadmap to a more functional future.

A Token to Self-Regulate Tokens. But Really.

Can self regulation without government interference work for the cryptoasset market? Ryan Selkis aka @Twobitidiot makes the case that Token Curated Registries (TCR’s) are the solution…

“The high-level concept of a token-curated registry is this: there’s a list you want to be on and you think you deserve to be on the list. You are then willing to pay an application fee in an effort to make that list — either on a one time basis or via recurring credentialing “dues” — because there is intrinsic value to inclusion. You can think of a TCR like a cooperative, where existing members vote to include new participants and share in the costs, and rewards, of running the community.”

REGULATORY FRONT


A Perfect Crypto-storm is Brewing in the Philippines

Here is a perfect example of how countries can take advantage of the cryptocurrency market to become safe-havens for crypto-businesses. As the Philippine Central Bank is issuing licenses for exchanges to operate, citizens are now using bitcoin to send Philippine pesos to anyone, anywhere in the Philippines, fast and cheap. They are also able to pay bills and buy mobile phone credits.

Wyoming House Unanimously Approves Two Pro-Blockchain Bills

Wyoming aims to set the standard for blockchain-friendly regulation in the U.S. and to become a hub for blockchain-based innovation with these two bills.

CHART OF THE WEEK


For those looking to pick up some Cardano (ADA)… there’s a decent chance that we’ll see a substantial pop between now and the end of February.

We’re quite close to hitting the lower boundary of the steeper channels. Given that ADA has limited trading history, there’s no guarantee that this boundary holds, but the probability is decent. And this is certainly a better entry point than a couple months ago. Maybe a partial position is merited here with bids between 0.0000275 BTC and 0.0000325 BTC.

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