📌 Syscoin Trades at 96 BTC, Coinbase Custody, and Demystifying the Blockchain

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Demystifying the Blockchain

While the average person has probably heard about blockchain, ask them to explain it and they probably couldn’t give you a solid definition.

Money, however, doesn’t care about definitions… and this is reflected with the billions that have been invested into blockchain by Fortune 500 companies and Silicon Valley venture capitalists. These companies feel that like the tech bubble, blockchain will have a lot of failures, but years later will be embedded into our daily lives in ways we never could imagine.

 

Crypto Coin Graveyard Fills Up Fast as ICOs Meet Their Demise

The book of the dead is quickly growing now that prices have nearly collapsed across the crypto market. With over 80% of coins with $50M+ market caps failing, we’re interested to see what will remain after the ashes are swept away.

 

Syscoin Trades for 96BTC on Binance, Causing Freeze in Trading

Binance suspended trading services earlier today due to “irregular trades“.

What caused the irregular trading? Syscoin (SYS) – a blockchain platform that, like Bitcoin, facilitates extremely low-cost transactions. The Syscoin team realized last night that there was a possible issue with the trading of its SYS cryptocurrency. This led them to ask exchanges to stop the trading of its coin, but not before a coin traded for a whopping 96BTC.

After dealing with the issue, Binance has just opened trading back up. Here’s their recap on what went down.

 

DEEP DIVE


Crypto-Incrementalism vs. Crypto-Anarchy

🤔 Crypto-incrementalistsPeople who see value in blockchain.. not as an unstoppable force that tears down borders, but as nothing more than a new data structure with potentially disruptive use-cases.

✊ Crypto-anarchists: People who want unstoppable, unsuitable money that cripples legacy financial institutions and a society built on technologies unable to comply with authoritarian requests.

With people on both sides of the isle, is there room for people in the middle? Here’s another excellent post tackling the issue from Decentralands’ Tony Sheng.

 

🎭 The Crypto Tragedy of the Commons

In a pervasively connected world, crypto will be more global and democratized than potentially anything we’ve seen before.. and to do so it must innovate instead of trying to re-create.

This essay from Mike Maples argues that the real impact of distributed tech isn’t alternatives to things today but possibilities that didn’t exist before.

 

SPONSORED


The Precise Date Bitcoin’s Price Will Begin Climbing Higher

In this exclusive live event on July 19th, TV and radio host Glenn Beck will interview world-leading cryptocurrency trader, Teeka Tiwari in a special broadcast called: The Great Cryptocurrency Conspiracy of 2018.

As part of this event, Teeka will discuss the one trigger event that could ignite a second boom in cryptocurrencies before the end of this year and send Bitcoin to $100,000 (and smaller cryptocurrencies could go up much higher.) Click for full details.

 

REGULATORY FRONT


Cryptocurrency Regulation Update (July 2018)

Here’s a quick little recap from Phil Glazer of the Bitwise Investment Fund on all the crypto regulation that has occurred in the last month, broken down by developments in the United States and the rest of the world.

 

Regulators Can’t Agree on ICOs And Crypto – and That May Not Be a Bad Thing

With confusion on all sides in terms of regulation and classifications of ICOs and Cryptos, it’s easy to think this is bad for the industry.

However, this may not exactly be true – as this uncertainty can lead new companies entering the space to take a more cautious approach to financing.

 

SEC Proposes New Approval Process for Certain Exchange-Traded Funds

You were waiting for bullish news, so here you go…

The Securities and Exchange Commission voted earlier this week to propose a new rule and form amendments intended to modernize the regulatory framework for exchange-traded funds (ETFs).

This could be the first step in opening the door for trading crypto ETFs in the US.

 

CHART OF THE WEEK


Ripio Credit Network (RCN) has been oversold to December lows. Currently it has an ascending RSI (relative strength index) with strong accumulating volume. It has had multiple weeks of sell-offs, but we may be seeing a reversal point soon!

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