QUOTE OF THE DAY
“People who think they know everything are a great annoyance to those of us who do.”
Update On Ethereum's Upgrade
Ethereum's "Byzantium" upgrade is being postponed by a few days.
CoinDesk reports the hard fork for Byzantium – the first leg in ethereum's Metropolis update – will now occur at block number 437,000,000, or about October 17 given current block production metrics. The original expected launch date was October 9, barring any complications during testing.
Although Vitalik Buterin wanted to push the update towards the end of the month, he was discouraged because it would be too close to a ethereum developer conference in early November.
You can read more about this here.
ViaBTC Says "Peace Out" To China
According to Bitcoin news, Chinese cryptocurrency exchange ViaBTC has announced its plans to launch a trading platform based outside of China. The decision to establish an overseas-based platform follows announcements that the exchange will shut down operations in mainland China on September 30th.
Those exchange dollars must be lucrative!
EU Investing In Blockchain Tech
The EU is looking to allocate a few million dollars out of its budget towards blockchain related projects. Neat.
Rumor: Amazon To Accept Bitcoin By October
There's a rumor going around that Amazon may accept Bitcoin by October. This article was shared this weekend by almost every cryptonaut on Twitter.
Remember folks, this is just an unverified rumor.
THINGS I LIKE
Understanding Token Velocity
Kyle Samani wrote a nice little piece on variables that that impact the valuation of a token.
The primary variables he outlines are:
- Why is a decentralized protocol superior to a centralized alternative?
- Why is a particular protocol superior to decentralized alternatives?
- Total addressable market - if the protocol fulfills its vision, how much commerce can it power?
- How strong are the network effects?
- Quality of team
- Progress - how far along is it?
- Token velocity - will people hold onto the asset, or will they sell it immediately?
You can read his paper here.
A Wonderful Tweet Storm
A wonderful tweet storm by Martin Green. It starts like this:
"10 years from now - it's 2027, we'll look back and say, how did the financial system not see all this coming?
Back in 1995, I worked at Morgan Stanley - we took netscape public. A year later, I left to join CNET.
There were about 30 million people using the web. I remember many investors doubted the viability of the web.
Internet and web protocols were bigger than Netscape, CNET, or even Amazon...."
You can continue reading the rest of it here.
As the wise man zxbc once said (like, this morning), I think it's important to keep a clear view of the macro trend and not get blinded by short term volatility, I still consider this down trend until those trends are broken.
I hold the same sentiment, but not towards being bearish. To me the market still looks neutral (which tends to mean stay in cash).
You can not overlook how strong of a bounce the market had post Bitcoin hitting $3,000, but at the same time, we haven't necessarily been bullish since that bounce.
My Current Sentiment: Neutral
Daily Number Indicator
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