The Peasant Report, No. 5

Study Suggests Optimism

Part of the study reported on yesterday from Coinbase also took a look at the percentage of college students who own cryptocurrency. 18% of college students reported to own (or have owned) cryptocurrency. This is double the percent of the general public's ownership numbers.

Optimism is found in the fact that the youth will become the majority. Every new technology finds more users among the youth, a precursor to mass adoption. Video games, computers, the internet; all products' adoption was led by the young. With cryptocurrency turning 10 years old in January, generations are being born who will never know a world without Bitcoin. And with a little bit of patience, mass adoption is inevitable.

MyCrypto Raises Millions

Los Angeles-based cryptocurrency start up MyCrypto raised $4 million in their Series A. The pedigree behind the project is undeniable. Originally founded by Taylor Monahan, also the co-founder for MyEtherWallet. She is one of the leading females in the cryptocurrency space.

MyCrypto offers the promise of accessibility and ease-of-use. The general population does not know what blockchain is. They are confused by it and they surrender to never really getting it. MyCrypto aims to provide an on-ramp for those that don't have the knowledge or the time to acquire the knowledge. This will allow new investors an opportunity to at least get involved while they soak up the vast conundrum that is cryptocurrency.

Dream Exchange?

A new exchange has launched that makes some very bold promises. Deribit is a Bitcoin futures and options exchange that has launched a secondary trading platform, Deribit Perpetual, that offers millisecond transaction speeds and minimal fees. While promising, the platform sounds like a risky bet:

"The Perpetual product tracks the Bitcoin price and allows traders to take positions without exchanging any Bitcoin. The platform‘s low fees make it possible for traders to take large positions with only a small capital outlay."

Leverage trading is risky. Uneducated leverage trading is dangerous. If you want to see how dangerous it can be, take some time looking up some of the worst trades on the popular leverage trading platform, Bitmex.