Cryptospace update February 3rd 2018

Bitcoin hits bottom, time for the bulls to return?

• Prices follow a devastating sell-off on Friday losing $100 billion of value wiped off the cryptocurrency market and sent bitcoin below $8,000 for the first time since November 2017.
• Worries over tighter regulation and concern that tether could destabilize the cryptocurrency market.
• Bitcoin, Ripple, and Ethereum sell off spreads to stocks.
• Markets stabilized on Saturday with bitcoin, ripple and ethereum all higher from a day ago.
• We are witnessing a market-cap rebalancing. Many disregard bitcoin for a lack of use, but most do not disregard the technology behind behind the coin.
• Some say that the latest correction is due to the Coincheck heist worth an estimated $535 million at the time.

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Ethereum Cash (ECASH)

• Good 24 hours as the crypto jumped $0.01 (almost 10%) trading at $0.1102
• Up 280.92% in the last 30 days
• Ethereum Cash maximum coins available are 15.00M
• 2018 could be a big year for ECASH

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Russia Introduces Law On Cryptocurrency Regulation

• “This federal law regulates the relations arising in the creation, issuance, storage and circulation of digital financial assets, as well as the exercise of rights and performance of obligations under smart contracts.”
• The draft law “On Digital Financial Assets” will regulate cryptocurrencies in Russia, and shall come into force 90 days after the date of its official publication.
• Russia also introduced the CryptoRuble as legal tender.
• CryptoRuble will also be used for circulation in international markets.

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US largest banks do not want the liabilities associated with cryptocurrencies after bitcoin lost more than half its value since Dec. 18 last year

• JPMorgan Chase & Co and Bank of America Corp, the nation’s two largest banks, are halting purchases of cryptocurrencies on their credit cards.
• Capital One Financial Corp and Discover Financial Services not supporting the transactions.
• Does not affect debit cards.

DON'T RISK MONEY YOU DO NOT HAVE!! <----- this is the lesson to learn

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IOTA’s Tangle to Transform Taipei into a Smart City

• IOTA Foundation uses directed acyclic graph (DAG), opposed to standard blockchain technology, which makes transactions completely free irrespective of the size of the amount
• Ready for real-world use cases and is more than just a theory
• First phase of the project is to create citizen ID cards with built-in TangleID to make it tamper proof
• Designed to operate as a database to maintain public and personal records of citizens

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Overall I believe we are near the end of the sell off storm! Many coins coming to market in first quarter with real world uses.

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If you havent bought at these 2018 lows NOW IS THE TIME! We have a long way to go before the end of quarter 1 with many top 20 coins meeting their goals.

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