Bitcoiinneect

Market Report: 5th Feb. 2019 — Subscribe to our newsletter.

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CRYPTO NOTE

The daily view from our desk

If you’re in need of some inspiration, don’t look to Super Bowl loser Andrew Whitworth who said in his post-match interview “…at the end of the day, we’re all gonna die”. Instead be more like Ja Rule, who lead a chant against himself in reaction to the recent Fyre Festival scandal. Or if you need to bend the rules look to 21 Savage who has been lying his whole career.

DIARY OF A MAD MAN

BULL MARKETS DOTH NOT A TRADER MAKE

True capitulation happens when fellow crypto newsletters begin competing (with us?) for funny email subjects. First, it was Token Daily, which for a while consistently managed to surprise us — and many in the industry. And now its The Block, indisputably the hottest source of quality news and analysis in the cryptosphere (sorry, Messari).

They used to have uninspiring headlines, but their latest issue is particularly poignant. “A shadow of a made man” illustrates the rise and fall of Ian Balina, arguably 2017’s most popular crypto influencer — whose rag to riches story could be followed in his “Diary of a made man” blog. Still, there’s a lot of work to be done to lift spirits in this “crypto winter”. So, here’s to the mad ones!

BITCOIINNEECT!

HEY HEY, MY PEOPLE HERE FROM VIETNAM, MAKING SO MUCH MONEY THAT THEY CAN PROBABLY HAVE A REAL HARD TIME COUNTING IT!

As for the markets, while bitcoin is down 0.2% over the past 24 hours, the top 100 projects are finally up around 2%. However, it’s also the case that market cap controversies are back on the table. And we’re not only talking about Ryan Selkis’ latest rant on the problems with estimating token supply and the implications that definition has on calculating a token’s float and its market cap.

It’s the fact that bitcoiin is up 280% over the past day — and that is messing that neat average we like to use daily to compare price between newsletters. Yes, that’s right. A project dubbed “bitcoiin” rose to 64th on CoinMarketCap, further proving how misleading that ranking can be these days. Born just a couple of weeks ago, this scam clearly deserves to be reported. File your complaint here!

P.S. Oh, and did you know Carlos Matos’ “Bitconnect” lyrics are on Genius?

WHAT YOU CAN’T MISS TODAY

DON’T LEAVE FOR THE WEEKEND WHAT YOU SHOULD READ TODAY

▪ Jack Dorsey, CEO of both Twitter and Square, made new positive remarks about Bitcoin and blockchain during an interview with the popular Joe Rogan.

▪ Cyrus Younessi, Director of Research at Scalar Capital, wrote a clarifying essay on the “elegant relationship between DAI, ETH, and MKR” tokens. A must read.

▪ Breaker’s David Morris is sad that Facebook is not afraid of the bear market and has just acqui-hired Chainspace’s team to prop-up its own blockchain division.

▪ CoinDesk has published its latest quarterly State of the Blockchains report, gathering perspectives from all corners of the cryptosphere. Another must-read here.

▪ Su Zhu analysed how several TA-based trading strategies fared in the crypto markets since 2013, considering only one trade per day. Must-check results here.

▪ Michael del Castillo reports how Google is adding new blockchains to its BigQuery analytics platform. Last year it was Bitcoin and Ethereum. Now it’s Doge time!

QUOTE OF THE DAY

WHAT ABOUT CRYPTO INFLUENCERS? WHO DISCUSSES THOSE?

“Small minds discuss people. Average minds discuss events. Great minds discuss shitcoins.”

By Zissou