The Raven’s Dispatch – This week in cryptocurrency – March 12, 2018

The Raven's Dispatch

Bryan

March 12, 2018

THIS WEEK IN CRYPTOCURRENCY

Mt.Gox….Here we go again

Mt.Gox is like a terrible rash that just won’t go away. Just when you think you’ve got it under control the damn rash just pops up unannounced ruining your day. This week in the never ending soap opera ‘Mt.Gox of our lives’ we learned that the Mt.Gox trustee, a Mr. Nobuaki Kobayashi, got shakey hands and decided to start dumping $400mln (35,000 BTC) in order to pay the defunct exchanges creditors. Also to ruin everyones week and put the bulls back on life support.

The overall cryptocurrency market cap suffered with the Bitcoin dump and dropped a healthy 16% in the past week bring us to a total market capitalization of $386bln. There never seems to be a peaceful week in the world of cryptocurrencies and this was no exception. Let’s get to it, shall we?

Bitcoin had another rough week with the Mt.Gox coming out from it’s banashed hole of shame and dumping $400ml BTC on the market.  That piece of lunacy led to a 14% dip in price over the last 10 days. The bears are back in the drivers seat making their case for a trend reversal. If the daily holds on to this $9500 price range we will close the daily with a bullish engulfing. Hope, right?

Ehtereum has been on a slow decent the past 10 days down from $854 to $727 as of this post. A 14% drop in 10 days. In other news Porsche is launching an Ethereum based blockchain to help ‘smartify’ cars. Even John McAfee can’t believe the price has dipped so much.

Litecoin also suffered a slight dip in the past week and proves that what’s bat for Bitcoin is bad for whole space. LTC experienced a 17% dip in price and is in clear price discovery around $187. The past few days have shown continuation which could indicate LTC will continue it’s sideway movement. Continued anticipation of the of the lightning network, a new core version and the posibility of being of LTC being listed on the Gemini xchange is keeping the bulls warm at night.

What’s new at Crypto is Coming

If you’ve been wondering about Zcash, prepare to wonder no more. Privacy coins have become of increased interest as the ecosystem develops, and as newcomers realize that currencies like Bitcoin are actually pseudonymous, not anonymous as is often claimed by mainstream media. Check out this article to learn how Zcash is addressing the anonymous currency market.

It’s taken damn near a year, but it finally seems Segwit is starting to be adopted by most of the largest exchanges. And what has that implementation meant? Lower fees….Surprise! The year long civil war over how to scale Bitcoin seems to be moving towards SegWit adoption. Crypto exchanges are FINALLY starting to integrate SegWit into their daily operations with Coinbase, Bitfinex and Binance all announcing it this week via twitter.

If there’s one thing holding back mainstream crypto adoption, it’s lack of interoperability. If you want to buy altcoins, the process is pretty arduous. First you have to either buy crypto with a credit card for an increased rate or wire transfer fiat currency to a major exchange – then you have to exchange that fiat for BTC, ETH, or LTC, and only then can you buy that sweet altcoin. Interoperability, through atomic swaps and cross chain message relays, means to make that ardous path a little less complex.

What value can the blockchain add to the identify verification space? A lot, it seems. every few months there’s news of a major hack that leaves millions susceptible to identify theft and the accompanying pain of having cancel all your cards, change your passwords, etc, etc. See how the blockchain will help change the way we aproach identity verification. And read about one of the companies trying to make your identity safer, CIVIC.

We decided to change up the usual article format and design a cryptographic. Julio put a lot of time, sweat and tears into this fancy graphic so check it out. Is Bitcoin Destroying the Planet? (Cryptographic)

ICONOMI is an investment platform based on the Ethereum network that boasts a variety of different tokens with different values and functions. It’s also an actual company, one of the first cryptocurrency companies to aim in offering shares to the public through tokens. Check out why ICONOMI offers a different way to invest in the cryptocurrency market.

Cryptocurrency news from around the internets

The Bitcoin misery index is telling us to buy! Wait…The bitcoin what? What the hell is a misery index?

Here we go again. Mt.Gox comes to bit us in the ass once again. The Trustee for Mt.Gox decided to dump 35,000 Bitcoin onto exchanges causing a selloff. When will we be rid of this terrible rash?

If you can buy prepaid cards, gift cards and recharge your mobile phone at newstands, why can’t we buy crypto at them? The Aussie exchange Bitcoin.com.au has made it possible for Australians to buy BTC and ETH with fiat at over 1,200 newstands across the land down under. Horray for adoption!

Litecoin has been a busy little bee with a new release of LTCs core version to v0.15.1. Charlie Lee even announced the team is already working on v0.16. New LTC Core version released. It’s good to see some active dev work, even though the changes were minor.

As a shock to all the Ethereum believers the MIT Technology review recently posted an article by Mike Orcutt stating boldly “Ethereum’s smart contracts are full of holes“. It’s not as onerous a read as you think, check it.

While the US government has not directly passed regulation on crypto the new tax law does affect them indirectly.  Find out how the new tax law impacts cryptocurrency and you. 

We’ve spoken quite a but about decentralized exchanges (DEX) on Crypto is Coming. To continue that thread we fould a comprehensive list of DEXs that also shows us their status, grade, and protocol. Quite a nifty page to add to your bookmarks (make sure to add crypto is coming as well…wink wink)

You have to admire the land of the rising sun’s fervour for cryptocurrencies. Japan’s Exchanges recently joined forces to self-regulate themselves in light of the recent hacks and government attention. Well on ya Nihojin.

India has been a growing cryptocurrency market for some time now so when two popular crypto exchanges in India suspend trading you know something is going down. Don’t worry, it doesn’t seem a hack is behind the suspended trading. Worse…It’s the government.

All hail the new emperor  indefinite president of China Xi jingping. Now that total control has been established we find that someone in the Chinese government is tossing the idea of a National crypto trading platform. Gotta love centralized control trying to muscle it’s way into the decentralized land of cryptocurrency. Not.

We all knew this was coming: Coinbase sued for insider trading Bitcoin Cash

That’s it for this weeks edition of the Raven’s Dispatch. We hope you enjoyed it. If you have any feedback hit us up at info@cryptoiscoming.com

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