QUOTE OF THE DAY
“No one would talk much in society if they knew how often they misunderstood others.”
—Johann Wolfgang von Goethe
Everything We Know About China
Here is an abridged breakdown from Store of Value (a cryptocurrency blog). They wrote a fantastic overview of the rumors, facts, and timeline of what is really happening.
August 28th - Caixin releases an article claiming the Chinese government will ban ICOs soon
August 31st - ICO.info suspends operations
September 3rd - ICOage suspends operations
September 4th - People’s Bank of China releases an official notice to ban ICOs
September 6th - Chinese cryptocurrency exchanges delist many ICO tokens including QTUM and NEO
September 6th - Chinese official claims on CCTV-13 that the ICO ban is temporary
September 8th - Caixin releases another article claiming the Chinese government will ban all fiat-cryptocurrency trading
September 8th - People’s Daily’s English Twitter account seems to reiterate Caixin’s claim in an awkwardly worded tweet
September 8th - ViaBTC founder reiterates Caixin’s claim
September 9th - OKCoin and BTC China announce they have not received any information from the government, operating normally
September 11th - Bitcoin and Ethereum prices rally in China
September 11th - Wall Street Journal releases an article reiterating Caixin’s claim on the fiat-cryptocurrency trading ban
Check out the full post with sources and everything else here.
No Point In Prohibiting
The Russian Finance Minister Anton Siluanov has this to say about cryptocurrencies.
"The state certainly understands that cryptocurrencies are a reality, there is no point in prohibiting them. It is possible to regulate them, so the Finance Ministry will draw up a bill by the end of the year."
You can read more about this here.
ICO Code of Conduct for Switzerland
According to CoinTelegraph, Switzerland’s non-profit Crypto Valley Association (CVA) is developing an ‘ICO Code of Conduct’ to help with future regulatory hurdles.
In Adoption News
Israel’s biggest bank partners with Microsoft to offer bank guarantees on a blockchain.
THINGS I LIKE
Latest memo from Howard Marks
Billionaire Howard Marks recently released his latest Oat Tree Memo and he again mentioned Bitcoin.
This is probably the most positive thing he wrote.
"There’s absolutely no reason why Bitcoin – or anything else – can’t serve as a currency if enough people accept it as such. While I’d point out that no private currency has gained widespread use in a long, long time, there’s nothing to say it can’t happen."
You can read his memo here (Bitcoin stuff starts on page 4).
How To Set A Stop-Loss On Bittrex
Jaggedsoft shows you how to set a stop-loss on Bittrex, cause you know you need it.
Here is his post on Steamit.
My Current Sentiment: Bearish
Why am I bearish? Take a look at the weekly chart. We also just hit a 9-count on the weekly candles. These next 7 days will determine whether we see sub 4k Bitcoin, or 5k+ Bitcoin.
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