Tryptomer for the week: the fate of the Ethereum ICO, dollar Gemini, serious Dogecoin
At the end of the week we summarize what wrote these seven days, and collect everything that is relevant for fans of the cryptocurrency and decentralized technology. This week, the ether has made a comeback, Vitali Buterin denied his pessimism about the stock market, and the Winklevoss brothers have launched stablly.
Opinions and estimates
September 12, Ethereum co-founder Vitalik Buterin said on Twitter that he never claimed that there is no place for the growth of the ecosystem of cryptocurrencies. On the contrary, he noted that a 1000— fold increase in recognition of cryptocurrencies and their actual use is very likely. Recall that the September 8, Ethereum Industry Summit in Hong Kong Vitali said that it is hardly expected, “1000— fold increase in anything [of cryptocurrency]”.
One of the most ardent supporters of the cryptocurrency Mike Novogratz believes that the digital market is on the verge of a new explosion. Novogratz is confident that a greater collapse of the exchange rate of bitcoin and the other coins we will not see.
One of the pioneers of venture capital Tim Draper made a forecast that the total market capitalization of crypto-currencies will reach $80 trillion. through 15 years.
Gregory van den Berg, founder and head of Bankorus, the world’s first private platform for managing state using the blockchain and artificial intelligence, believes that the popularity of the blockchain grows, people begin to not just follow price jumps, and really get acquainted with this technology. In his opinion, licenzirovanie securities is the next wave of cryptocurrency.
Cryptocurrency market analyst Kevin Hand stated that the vast majority of altcoins “almost dead” — they do not show any activity. Hand insights based on market data aggregator OnChainFx. OnChainFx although the data are imperfect, they are able to give an idea of the number of people using various Althingi.
Entrepreneur John McAfee, who continues to wage war against HitBTC, said that from a mathematical point of view, by 2020 the price of bitcoin should be close to $1 million. According to him, this conclusion summing data on the number of bitcoins mined and the difficulty of mining, especially now, in view of the upcoming reduction in the reward for mining (from 12.5 bitcoins per block to 6.25).
Chief economic Advisor of Allianz, chair of the global development Council and a popular writer Mohammed El— Erian said that the cryptocurrency is not dead, though overrated. According to him, the price of bitcoin should be around $5000.
Chief commercial officer cryptocurrency payment company Bitpay Sonny Singh stated that the overall condition of the cryptocurrency is not worrisome and overall dynamics of this industry looks positive. He believes that cryptocurrencies are now on the threshold of new progress, which will be a “defining moment” for the industry, in terms of development and recognition as a means of payment.
Professor of Economics at the University of Berkeley Barry Eichengreen believes establecida “dangerous trap”. According to him, these coins are not the best investments due to a number of weaknesses.
In the new poll, conducted by SharesPost, more than 70% owning a cryptocurrency investors have declared their readiness to increase investments in digital assets. 72% of respondents having a digital coins are planning to increase investment in the near future. However, among this category of respondents there are those who are not ready to rush into a decision, because the digital market in recent years shows a decline. Many holders of the cryptocurrency told the researchers that, in their opinion, 2025 will be a turning point in the history of the global market.
Twitter user, Nunia Bizniz released a chart of bitcoin prices in 2013 and 2018, and the price chart of gold since 1976 to the present day. Similarities of price movements is amazing.
The Ethereum ICO
As reported by Autonomous Research, last month the ICO has been able to attract only $326 million, and this corresponds to the minimum of the last 16 months. For comparison, in the first three months of 2018 rockenseine on average attracted about $3 billion. experts believe that the ICO using the Ethereum blockchain, became the main catalyst of growth of the ether last year. Also according to a study conducted by analysts of the company Diar, 40% involved as a result of primary offerings of coins funds remain in the accounts of the organizers of the ICO. These funds are not invested in digital projects, for the financing of which was carried out tocancel.
As the portal Trustnodes, ICO— projects to massively sell their stocks live. So, for the last ten days the project has sold 160 000 ETH, and for the last 20 days even get rid of 120,000. As a result, during the month holders dropped approximately 280,000 coins, that is $54 million
Senior platform developer at Rocket Pool Darren Langley analyzed in his blog on Medium roadmap for Ethereum 2.0. The most important aspect is that the Ethereum 2.0 will combine the algorithms Proof— of— Stake (PoS), eWASM and sharding. After launch it will only support a significant number of transactions on the blockchain.
Against the background of falling of cost of air mining this cryptocurrency becomes unprofitable event, which ultimately led to lower Hasrat network coins to a new low. If in August the figure was 300 trillion. hashes per second, but now it has fallen to 270 trillion. hashes. This is one of the biggest downfalls of the activity of the miners live.
The South African Central Bank has announced its intention to use the blockchain— Ethereum network for servicing interbank transactions. The regulator has already completed the testing platform within the framework of the project Khokha.
Chen Min, a former developer of chips Canaan Creative has launched a new company called Linzhi designed to create highly productive devices for cryptocurrency mining. Her first project aimed at Ethash algorithm used for mining Ethereum and Ethereum Classic. Line of ASIC miners will be released next year.
Duncan Chia, adept cryptocurrency and derivatives trader with a decade of experience in his recent post explains in detail what kinds of factors have decreased the rate of the ether in recent months, how long can it last and what investors in the current situation.
Jeff Dorman, Manager of the Funds Arca scriptactive and a former trader on wall street, in his article on Hacker Noon analyzes what is happening in the market in recent weeks, denies the similarity with the collapse of 2014 and explains how a forthcoming update Ethereum may open perspectives for its growth.
New York crypto currency exchange Gemini Trust announced on 10 September about starting their own stablon. So-called dollar Gemini (Gemini dollar, GUSD), which is pegged to the US dollar at a ratio of 1:1 will be the world’s first adjustable steilcoom and will allow users to send and receive us currency through a network of Ethereum using tokens standard ERC20. Following the announcement of the Winklevoss twins new York— based company Paxos made a similar announcement. On whether the dollar Gemini to press the Tether and become the new “king tablconv”, read this article.
In the night of Monday, September 10, Dogecoin got a list of the top 20 key digital assets according to the website CoinMarketCap. Course coins rose to $0,006 and the market capitalization reached $715,38 million asset located on 20— th place ranking, displacing 21— e a place cryptocurrency zcash for.
Earlier in the week the team of cryptocurrency Waves has launched a new system Protocol, its blockchain platform. This has increased the attractiveness of the coins in the eyes of investors, dramatically increased investment in the digital asset. In the near future the Protocol will allow you to create smart contracts on the platform Waves, if it will support all the miners.
Team IOTA Foundation continues to expand cooperation with leading high-tech corporations. Bosch, Volkswagen and HP are long time partners of a startup, but now before the parties tasked to expand the cooperation in the implementation of projects to run joint applications and products.
French football club “Paris Saint— Germain” (“PSG”) announced its intention to create its own crypto currency Fan Token. The coins will be produced in partnership with Socios. Also about the willingness to run the cryptocurrency said the Brazilian club “Avai”.
On 11 September it was reported that the founder of the cryptocurrency exchanges OKEx Old Xu is detained in Shanghai on suspicion of involvement in the Scam coin WFEE. September 12, Xu was released. A preliminary investigation found that his company in Shanghai has nothing to do with the token WFEE. The alleged fraudulent scheme was carried out in Beijing, so the investigation materials will be transferred to the Metropolitan police.
The company Huobi Group has set a goal to gain a foothold in the Japanese cryptocurrency market. In the press centre of the company announced that its subsidiary Huobi Japan Holding Ltd will buy the lion’s share of stake cryptocurrency platform BitTrade.
Cryptocurrency exchange Bittrex has signed a new deal and launched a global company called Bittrex International, focused on blockchain technology. Exchange platform also planning to move to Malta, which is pursuing a friendly policy towards cryptocurrency business. In addition, Bittrex is planning to soon start operations with digital currencies litecoin and Tron paired with the us dollar.
Canada’s largest cryptocurrency exchange NDAX started operations with digital coins EOS.
The Japanese company GMO Internet has launched a platform for cryptocurrency trading. Its launch was made through a subsidiary of the giant GMO Coin. While users of the trading platform available only with bitcoins. Commission for withdrawal of funds from the crypto currency exchange no.
Major cryptocurrency companies and veterans of the technology sector, the United States intends to create an Association of the blockchain (the Blockchain Association). The organization will be the first lobbying group of its kind in Washington, representing the interests of investors and entrepreneurs working with this advanced technology. The mission of the new organization is to stabilize relations between cryptocurrency startups and lawmakers. The means of achieving this goal, the initiators referred to the education, training and changes in regulations.
Indian media recently reported that in the state of Telangana with the help of Tech Mahindra will create the first “district of the blockchain”. The authorities continue to do the same steps. In particular, municipal Council, new Delhi conducted a campaign on planting of 10 000 trees. To monitor their growth and development will use the blockchain technology, as well as geotagging. It is worth noting that in India, successfully developing sector of the blockchain, as exemplified by the five startups, which tells the website Cryptocurrencyguide.
This autumn in Ukraine will begin the Ukrainian national Fund for startups (Startup Ukrainian National Fund), to which the state budget allocated 50 million hryvnia — about $1.8 million Fund will cooperate with the companies working in the areas of the blockchain, the Internet of things (IoT), artificial intelligence (AI), big data, biotechnology, kiberbezopasnosti, defense and energy.
The Supreme people’s court of China on 7 September issued rules clarifying the procedures of trials for a new kind of courts that specialize in cases involving the use of the Internet. The document said that so-called Internet— the courts will accept digital data as evidence if they are supported by digital signatures, timestamps and blockchain records.
The government of the Australian state of New South Wales is going to test the program of digitizing a driver’s license using the blockchain. In its statement, the state government announced that it would conduct a pilot program for 140 000 holders of license.
The Commission on securities and exchange Commission (SEC) on September 9, announced a temporary cease trade two investment products linked to the cryptocurrency. The Ministry clarified that they caused confusion among investors who could take them for ETF. We are talking about products Bitcoin Tracker One and Tracker Ether One quoted by the Stockholm division of the Nasdaq stock market. They suspended trading in the United States until September 20.
Central Bank of India has finally spoken on the issue of the legal status of digital currencies. In a statement, the Bank says that because bitcoin and other virtual currencies do not exist in physical form and not represented in Indian rupees, the definition of “Indian currency” is not applicable to bitcoin.
The Central Bank of Mexico issued a decree, which declared intention to toughen control over all types of cryptocurrency transactions. The regulator, together with the government of Mexico has set the objective to minimize the risks of legalization of proceeds derived from crime with the use of bitcoin and other coins.
Ashley Fox, a member of the European Parliament from the UK, believes that the creation of a single legislative framework for the ICO will make them more “available” on the territory of the European Union. Fox said that his proposals are intended to stimulate the ICO and to receive their declared profits of € 8 million, to support the implementation of the law on verification of customers; in addition, they will help cryptocurrency startups to get access to the entire EU market. Vice— President of the European Commission Valdis Dombrovskis said that many members expressed willingness to support cryptocurrency and to start developing the legislative framework.
The international monetary Fund is putting pressure on the government of the Marshall Islands, so they refused to release the state of cryptocurrency. IMF fear that after this island nation, many countries will be releasing their digital money.
In the United Arab Emirates cryptocurrency can be considered securities. The corresponding decision is prepared to take Control of securities and commodities UAE. The Agency has conducted a major study and decided to run a set of mechanisms for regulation of relations in the cryptocurrency market with the use of the experience of regulation of securities transactions.
South Korean banks continue to follow the instructions of the authorities now intend to limit or fully terminate service anonymous cryptocurrency traders. We are talking about persons that still have not provided the banks with detailed information about themselves and their cryptocurrency accounts.
The Russian Union of Industrialists and entrepreneurs (RSPP) is for sharing digital assets into three groups. A Board member of the Union and Vice— President of the group “Interross” Andrey Bugrov said that attracted by the RSPP experts have developed a version of the bill on virtual assets, taking into account the interests of all players in the digital market.
FIATA the world’s oldest currency, the British pound sterling has lost more than 99% of its value. It is believed that the pound sterling was established in 1158 by the decree of Henry I. that this respectable currency has lost almost all its value, indicated on Twitter InterchangeHQ founder and former employee of the company Uber Dan Hoedl.
From Bitmain’s got some serious competition. They became Chinese digging Bitewei in Shenzhen, headed by young Cosin, who previously held the post of Director of development in the part of Bitmain. It is already known that the new company could attract investments of up to $20 million for the development of new chips.
The Trustee is now inoperative bitcoin exchange Mt. Gox announced that corporate creditors can now submit a claim for the return of their bitcoins on the basis of the recently approved court rehabilitation procedures, and restoration rights. On 12 September the advocate and Trustee for the rehabilitation of Mt. Gox, Nobuaki Kobayashi said that until October 22, the former corporate users, the exchange must provide proof confirming their claims cryptocurrency assets.
Articles of the week
Forbes reporter Kate Harrison, who writes about green business and all that can help startups to succeed, this time explaining to entrepreneurs how to understand it time for companies to accept cryptocurrency payments, and if so, where to start.
Derek Magilla — entrepreneur, writer, co-founder Pathly and Nakamoto Studies Institute. In his article, he tells how some people try to make bitcoin into the public domain, while others consider themselves chiromancer — they consider it their property and are not willing to share.
Imran Khan, an employee of the Department of business development of Microsoft, Advisor for business in companies and zkCapital NorthwesternU, article on Medium does a detailed review of the decentralized system of registration of domain names and outlines their prospects.
Edition of the Wall Street Journal talks about the life of 29— year-old head of the Fund Polychain Capital in tough market times.
The Guardian newspaper has conducted a detailed study of how a decentralized worldwide network able to give us back control over data, which seized a major technology company.
Blockchain journalist Sergei Magas talks about how is it possible to make money on masternode.
Minus 96%, or the Story of a man who shouldn’t have bought and sold bitcoins.