Crypto News Weekly

THURSDAY JANUARY 18TH, 2018

Hello readers and welcome to another edition of the Crypto News Weekly!

Culture

Cranberry’s singer dead

Dolores O’Riordan died suddenly at the age of only 46 years old on Monday the 15th of January in London.

President Trump is trying to shut down the government

This shutdown is looming over negotiations around the border wall funding that is the highlight of his reelection campaign strategy, lawmakers may shut down the government so they have more time to decide.

Human rights and digital rights go hand in hand

Both of these aspects of our lives need to be vigilantly defended from government influence. We can win the coming economic war by believing in our own investments, exchanges, and communities and using making informed decisions about decentralized services.

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Economy

China bans use of foreign based exchanges by Chinese citizens, America still lacks the competence to do the same.

The impact of this will be monumental and the influence on America to follow the lead of China on this is very dire.

USA users left out of debit card programs

Recently I have been trying to make a debit card linked to digital crypto coin assets to use while traveling and after trying several different ones I have discovered a repeating pattern of America or USA not being included in the list of eligible user country. These same websites display all of their change rates, fees, and services in American dollars but don’t even offer services to American customers. This is discriminatory to Americans and is an exclusive practice that ultimately over time will devalue the USD and force everyone here to pay more for hard goods and all goods (including bitcoin) in a deflationary market. If there is an exchange or service that offers a USA debit card please send a reply but for now I am under the opinion that lawmakers here will soon catch on to this and regulate like China is doing by domesticating all citizen exchanges of cryptocurrency

State of digital coin markets

The crypto coin markets have been in the red so far this week, the markets seem to be searching for a stable correction for the end of 2017 hype but still have not found stable ground. Some of the losses were recuperated today with ETH benchmarking the ERC token market at about $1050.

Some indicators were present prior to Monday and Tuesdays price crash, massive panic sells ensued as fear and uncertainty overwhelmed the digital markets. Many people sold or traded their crypto-coin for other investments during this capital contraction. Steem trading was at record level volume prior to the shift in BTC and all overall coin value.

The only token that was able to pull through the market uncertainty was the Neblio(NEBL) token. While all other non government created digital assets were trading down by 20% this token was up by 20%! Could the market delay and restart this week be related to an investor choosing to invest all of their money into NEBL? this certainly looks like it could be the case.

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Currency

BITcoin’s longterm horizon

BITcoin has been called many things, decentralized, fiat, a one world currency, humanity last hope and many others. While one or all of these things may be true the important things we should keep in mind is the state of the project’s infancy. The important thing to know is the future of digital coin assets that exist independent of the world fiat economy is not a reality while the technology that made these coins possible has itself this potential.

One could say with that the completed blockchain network of any one particular coin is the ultimate motivation that digital currency producers (miners they’re called) mine. The main reason that people were willing to invest their time into mining the currency were the rewards. The same is largely true and the rewards continue to be well worth people spending thousands of dollars every few months for the latest edition of miners (asic & gpu computer units) this industry will likely boom for a few more years up until the reward for mining new blocks is halved on June 5th 2020 21:57:57. On this day block mining per now block will go from 12.5 BTC down to 6.25 BTC this will make miner manufacturers and operators alike have to compete to fuel their consumeristic addiction to a passive income. With these mining rewards set to go down and the fees for an average person to use the network hovering between 5-30 dollars BITcoin does no have the potential to be a currency easily used or trusted by the public.

Once the income of these miner operators has been halved it can be expected that these investors will sell their capital bound up in mining equipment to go into other block chains or switch to another currency that will offer a better return Many of the miners can be easily transferred to work to mine and expand other coin networks that have a similar code structure, will this make the value of other similar coins greater of less stable?

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Opinion & Humor

Meme of the week

What do you get when you cross BITcoin with the Olympics?

Esports player stock options.

∞

James and his new horse by @bestjokes

A young man named James bought a horse from a farmer for $500.

The farmer agreed to deliver the horse the next day.

The next day, the farmer drove up to James’ house and said;

”Sorry son, but I have some bad news, the horse died.”

James replied;

”Well then just give me my money back.”

The farmer said;

”Can’t do that. I went and spent it already.”

James said;

”Ok, then, just bring me the dead horse.”

The farmer asked;

”What are you going to do with him?”

James said;

’Im going to raffle him off.”

The farmer said;

”You can’t raffle off a dead horse!”
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James said;

Sure I can, watch me. I just wont tell anybody he’s dead.
A month later, the farmer met up with James and asked;
What happened with that dead horse?
James said;

I raffled him off. I sold 500 tickets at five dollars a piece for a profit of $1995.

The farmer said;

Didn’t anyone complain?

James replied;

Just the guy who won so I gave him his five dollars back.
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Steem

This month we are seeing a lot of posts about steam prices going up or down the big story is actually that the price has remained relatively stabile when denoted in BITcoin. The digital world is already much more stable than reality. Your steem may seem to be worth more or less in dollars by the day but the price per bitcoin grows or diminishes on a much slower scale. By this token these tokens are already more valuable and useful than the US dollar for establishing accurate notations of value, but I still can’t figure out how to spend the damn things. There seems to be no rush to teach average users like me either, this may create a rush to spend the currency and drive down its overall value in a chain reaction.

Reinvestment is a crucial component of the blockchain on steemit, with prices of steem in other digital currencies relatively stabile there is not too much money to be made by selling your sbd. The only way to make money now is to create quality content and by buying into the network from inflated government owned/issued fiat that is bound to become increasingly inflationary with the worlds increasingly more liberal/digital monetary policy.

Steemit is growing in populararity as we grow together, no other place can people make money no matter where they are in the world through positive interactions tham on the steem network. I am looking foward to all of your great posts here, until the next report, have a fun and successful time here steemians!

The CNW is a bimonthly blockchain publication.

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