Coin Sheet - August 21, 2017


QUOTE OF THE DAY

The man of knowledge must be able not only to love his enemies but also to hate his friends.” 

—Friedrich Nietzsche


COIN BULLETIN

Bitcoin At $619,047 In 10 Years?

I cannot see the future and I'm not going to claim divine intervention, so I don't know.

But here's the logic behind this Forbes article.

  • 21 million Bitcoins.
  • Demand of Bitcoin goes up 4%.
  • You take away away 4% from global demand value (World market capitalization value = 72.3 Trillion dollar +  Professionally managed global real estate market = 7.4 trillion  + Global Debt = 199 Trillion Dollar +MSCI All Country World Index Market Cap = 50.025 Trillion). (Psst, this bullet is my red flag)
  • This would give you the price of $619,047 per Bitcoin.

You can read the full article here.

Visa And Blockchain Patents

Public records show that four employees of Visa's global product and business-to-business platform divisions have submitted a patent filing titled "Methods and System for Using Digital Signatures to Create Trusted Digital Asset Services."

The patent seems to be related to a system that can be used to send digitized assets back and forth.

You can read an article about this here.


THINGS I LIKE

A Timeline of A Cyber Crime

Someone on Discord shared this cool article from BraveNewCoin titled MtGox, BTC-e, and the Missing Coins: A living timeline of the greatest cyber crime ever.

You can check it out here.

It gives you an easy to read timeline of now-defunct MtGox exchange

For Powerball Winners And Bitcoin Hodlers

Today we have an article from a Forbes contributor titled The Most Important Tip For Bitcoin And Powerball Jackpot Millionaires.

Tl;DR - Don’t treat lucky money differently than hard earned money, because you run the risk of losing part or all of it.

You can read the full article here.

A Crypto Trader Heads To Federal Prison

Randall Lord shares lessons learned in his Bitcoin case.

You can watch the 11 minute video here.


THINGS I DON'T LIKE

Government Interference

According to CoinTelegraph, several members of the US Congress are drafting legislation that is intended to recognize certain digital currencies and protect them against interference from the federal government.

The keyword there was "certain digital currencies," so it does not appear to be a blanket law intended for all currencies. 

According to their sources, the bill will focus on including cryptocurrencies with other mainstream form of payments, such as the dollar.

Okay that's noble, what else you got?

Among the proposals are to protect the virtual currencies against harassment from the federal government, prevent the currencies from being considered as a form of security or investment and to protect the transactions using the currencies against taxation.

wtf.png

So...you want all the perks of being mainstream but none of the inconveniences?

This is not how you get a bill passed.

You can read the full article here.


MARKET SENTIMENT

Technical Signals

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I'm liking this little Ethereum jump, but I am still pretty neutral on the market.

My Current Sentiment: Neutral
 

Daily Number Indicator

This is a number indicator is used for identifying trends, measuring momentum and spotting areas of price exhaustion. Read more here.

This is a number indicator is used for identifying trends, measuring momentum and spotting areas of price exhaustion. Read more here.


Want To Connect? Have Questions?

Let me know on Twitter @dmitriy_or_dima.


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