Coin Sheet - October 2, 2017


QUOTE OF THE DAY

We are what we repeatedly do. Excellence, then is not an act but a habit.” 

—Will Durant


COIN BULLETIN

Bitcoin ETF Setback

According to CoinDesk, an effort to launch a bitcoin futures ETF saw a setback after SEC officials pushed back against the proposal.

VanEck assistant general counsel Matthew Babinsky indicates that officials at the agency won't consider reviewing the firm's request because of the nascent state of the derivatives market for cryptocurrencies like bitcoin.

The ETF is essentially a common stock fund pegged to the price of Bitcoin, allowing investors to purchase Bitcoin without actually buying any Bitcoin.

You can read more about this here.

SEC Charges Shady ICO Operator With Fraud

The Securities and Exchange Commission on Friday charged businessman Maksim Zaslavskiy with fraudulently running two ICO's.

According to the SEC, Zaslavskiy promoted REcoin as the “First Ever Cryptocurrency Backed by Real Estate,” despite the fact a promised team of real estate professionals who would invest the ICO’s earnings in property never existed. The second ICO, Diamond Reserve Club, promised it would invest in diamonds and provide “discounts with product retailers for individuals who purchase ‘memberships’ in the company.”

Source

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North Korea Trying To Steal Some Bitcoin

Looks like North Korea sought to steal bitcoins from South Korean exchanges (and failed).

Source

Dubai Embracing Blockchain Tech

The local government in Dubai has officially launched its own cryptocurrency called emCash.

The token will be considered legal tender and will be used for various government and non-government services, from their daily coffee and children’s school fee to utility charges and money transfers.

You can read more about this here.


THINGS I LIKE

The 7 Things You Need To Know From The SEC Compliant ICO Conference Call

Lou Kerner shares what he thinks are the seven most important thoughts shared on the call.

  1. The SEC DAO Report was a remarkable gift to the ICO industry.
  2. There’s been no guidance on how long a white paper for an SEC compliant utility token should be, or what should be in it.
  3. Lee Believes that the use of proceeds section is the most important part of a white paper.
  4. Solving For The SEC/U.S. Regulators Does Not Solve For The Rest of the World.
  5. SEC compliant ICOs are more complicated and costly than traditional fund raising.
  6. Mike Jones now looks at everything through a decentralization lens, and sees opportunities everywhere.
  7. A major advantage of a tokenized hedge fund is a more stable pool of capital due to the elimination of redemptions.

You can read the full article here.

Understanding Ethereum

Today we have a nice little article in the NYTimes about understanding Ethereum. This is one of those articles you could share with someone who's not too familiar with the cryptocurrency space.

You can find the article here.


MARKET SENTIMENT

Technical Signals

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My Current Sentiment: Neutral

 

Daily Number Indicator

Bitcoin

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.

Ethereum

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.

Litecoin

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.


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