📌 Only the Real Survive, Cults vs. Religion, and Secret Crypto Criminals

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Large Crypto Funds: Facebook Coin is the “Most Bullish Thing” for the Market

Say what you will about the personal failings of Mark Zuckerberg – and there may be plenty – but his involvement with cryptocurrency could prove to be a gigantic financial boon for the industry.

Ted Livingston, the CEO of Kik (and someone who’s been ahead of many trends in the messaging and social media space over the years) adds his thoughts on the matter here, but in a slightly different tone. In his words, Facebook looks to be going after one of the biggest and most disruptive opportunities in human history. But it’s not what most expect.

 

A Multimillion-Dollar Criminal Crypto-Mining Ecosystem has Been Uncovered

Cryptocurrencies have become magnets for illicit activities such as theft and fraud. But one of the less-reported crimes is the use of stolen processing power. The proceeds of this theft can then be exchanged for real currency, reaping vast rewards for malicious actors.

How extensive are these illicit mining networks and how much money do they make?

Today, we get an answer.

 

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Do These Market Swings Have You Worried? Try This

I’ve made a new realization about the markets that may not be popular… To be blunt, it’s time to leave the markets behind.

Stop concerning yourself with the ups and downs… Markets can be climbing to record highs or plummeting to new lows and you’ll still have the chance to make money in either of these conditions, without worrying about how the markets are doing.

You see, I’ve found a way to trade successfully that bypasses all the noise.

 

DEEP DIVE

Most Bitcoin Trading Faked by Unregulated Exchanges, Study Finds

Nearly 95% of all reported trading in bitcoin is artificially created by unregulated exchanges, a new study from Bitwise concludes after analyzing the trading activity at 81 exchanges. The San Francisco-based company submitted its research to the SEC with an application to launch a bitcoin-based ETF.

And their not alone on this. The data echoes recent research from CryptoIntegrity who claimed that 88% of all trading in February had been inflated… And The TIE, another cryptocurrency researcher, estimated that 75% of exchanges had some form of suspicious activity as well.

Bitwise suggests that the unregulated exchanges are inflating trading volume to get a higher ranking on data services like CoinMarketCap and leverage that ranking to attract listing fees.

CoinMarketCap responded saying that the concerns over inaccuracies “are valid” and it will be adding more information to its website to help users make better decisions.

 

Messari Rolls Out “Real 10,” Claiming CoinMarketCap is Hurting Crypto

Messari, the crypto data services firm, founded by one of our favorite minds in crypto – @twobitidiot, has launched a new tool to help users get a better sense of trading activity on cryptocurrency exchanges after the Bitwise story (covered above ☝️) was released.

“Real 10” is a new metric which will only factor in data from exchanges that accurately report volumes. The ten exchanges are based on those that Messari believes have reported significant and legitimate crypto trading volumes via their APIs. These exchanges are: Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase Pro, Gemini, itBit, Kraken, and Poloniex.

 

Bitcoin’s True Market Dominance

Here’s a piece analyzing Bitcoin’s market dominance while taking liquidity and true volumes into account. The new metric is dubbed Volume-Weighted Cap and the results look pretty good for any of you Bitcoin Maximalists 😉 out there.

 

Bitcoin Is a Cult, Fiat Is a Religion

Alright, enough of the numbers… Here’s a fun and engaging idealogical essay on the religiosity of money.

“Bitcoin can only succeed as a cult for all money is a religion. It is only when Bitcoin has won that it will shed its cult status. When Bitcoin becomes a religion, as fiat is now, we will no longer be aware that we are believing.”

 

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Looking for the Best Penny Pot Stocks? (Start Here)

At the American Cannabis Summit – the first-ever nationwide event for cannabis investors – former Speaker of the House, John Boehner, breaks down our nation’s most controversial (and misunderstood) opportunity. See what’s quickly becoming a lucrative industry.

To see a special rebroadcast of this historic event, click here.

 

REGULATORY FRONT

The SEC is Reconsidering its Custody Rule: What it Means for Digital Assets

The term “custody” is often thrown around without people really understanding what it means and what it impacts.

Here Kathrine Wu breaks down the rules, what they mean, and how you can get involved in crafting the changes being considered.

 

🇲🇽 New Regulation Would Effectively Ban Crypto Exchanges in Mexico

The Mexican central bank, acting under authority from a recently enacted fintech law, proposed new regulations last week that would effectively ban cryptocurrency exchanges in the country.

 

TWEET OF THE WEEK

 

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