Coin Sheet - July 25, 2017

◤WHAT PEOPLE ARE TALKING ABOUT

Derivatives: LedgerX gets U.S. approval to begin trading cryptocurrency derivatives. Remember folks, derivatives essentially create a platform to trade the "price" of the asset, but not directly buy/sell the asset. A reddit user writes "the broker will most likely offer a CFD to allow you to trade this asset (crypto in this case). If anything, this is bad for us because Fiat is being used to trade these CFD's instead of being actually used to buy Crypto on exchanges."

If you don't follow, don't worry. Just understand that this isn't exactly all good news.

Read more about this here and here, oh, and here.

In Adoption: 

  • Delaware Governor signs blockchain bill into law.
  • Dubai set to achieve goal of becoming first blockchain government by 2020.

The Twins: The Winklevoss backed Gemini Exchange to begin daily Ether auctions starting this Friday.


◤THINGS I LIKE

This article by Jimmy Song titled Bitcoin Cash: What You Need to Know.


◤PUBLIC SERVICE ANNOUNCEMENT

I've written this before but I decided I will post this PSA periodically (every month or two?), hopefully it helps at least one of you from getting bamboozled.

Like it or not, if you hold cryptocurrency you're a pioneer in this space. As pioneers, you need to be more prudent when it comes to the security of your holdings. It pains me to read articles like this where people getting hacked and getting their coins taken. One of the joys of cryptocurrency investing/trading is being your own bank, and this is also the biggest risk. You need to realize the importance of being your own bank if you’re serious about handling cryptocurrency.

Now, I'm not telling you to go out and buy a hardware wallet. Learn the basics. Understand why it's more safe to use a computer that has never seen the internet before when you are generating a new wallet (hint:you want it to be as secure as possible).

And for the love of god, put Google Two Factor Authenticator on everything you can you donkey.

And I'm not done, here's another related reading on the matter with some tips.

AGAIN, so it sticks, if you don't have Google 2FA, you are prey (If you have 2FA you are still prey, admittedly much harder, and much more annoying prey).

BUT WAIT, there's more!

Here are some action steps that were shared in CoinSheet's Discord Server.

  1. Use http://protonmail.com/ — it has 2 password layers, almost impossible to get hacked. Infinitely more secure than gmail. Look up the team behind Protonmail and you'll realize why it's the best email provider on the web.
  2. Use linux. Mint linux is easy to use. Windows is back doored by 3 letter agencies. You can easily get a virus or trojan horse with windows, while it's infinitely harder with linux because of how the system is designed.
  3. Use 2FA for all your exchanges.
  4. Leave whatever you can afford to lose on the exchange; everything else, use your hardware wallet like Nano Ledger to keep it nice and safe
  5. Never fall for phishing scams, if your using something important, make sure it's real.

Ok, now I'm done.

◤MARKET SENTIMENT

7242017.png

Looks like there was a pretty big selloff of Bitcoin that started this bear move.

Good call by the Wolf.

What is this? Read here

◤QUOTE OF THE DAY

Great things in business are never done by one person. They’re done by a team of people.
— Steve Jobs

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