This Week in Cryptocurrency: November 9, 2018
Onwards and Upwards
The cryptocurrency market started to show some movement this week. And, even better, that movement was upwards. Starting the week with a $206B market cap, the crypto industry steadily rose to a weekly high of around $220B before falling slightly to its current value of $212B. Still, a nearly 3% gain for the week. How about our top three?
Bitcoin posted the smallest numbers with a sliver of gain, 0.65%.
Ethereum gained a hearty 5.27% this week.
XRP came up big, rocketing up 8.88% over the last seven days.
From Bitcoin to Beurocracy: This week’s election saw two notable wins for the blockchain community. Newly elected California governor Gavin Newsom was one of the first politicians to accept bitcoin in his 2014 campaign. Although he no longer accepts crypto donations due to regulations around donations, his early(ish) adoption shows that he at least knows what Bitcoin is and sees some value in it.
Another crypto-friendly politician, Jared Polis, won the race for Colorado governor. Polis has a multistep plan to integrate blockchain technology into several areas of the Colorado government and economy. The list includes voter protection, government transparency, and energy load balancing.
Texas Stops Certain Crypto ‘Miners’: While California and Colorado appear to be warming up to cryptocurrency, Texas is taking a stance as well. The Securities Commissioner of the State of Texas issued cease and desist orders to two cryptocurrency “miners” this week.
EXY Crypto and AWS Mining advertised mining investments they claimed would bring 10 percent weekly returns, in EXY Crypto’s case, and a guaranteed 200% return for AWS. With those statements clearly being fraudulent claims, the Texas government is putting a stop it. At some point, though, people need to realize that if a deal sounds too good to be true. It probably is.
People Saying Things
Voorhees Predicts Fiat Doomsday: The vocal ShapeShift founder and CEO took to Twitter to make his doomsday prophecy on Thursday. Well, only a doomsday if you want fiat to succeed. With the insurmountable debt that continues to pile up around the world, Voorhees may not be so far off.
When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back, and thus must print it instead, and thus fiat is doomed… watch what happens to crypto.
— Erik Voorhees (@ErikVoorhees) November 8, 2018
Shatner Knows Crypto?: We’re as surprised by it as you probably are. Captain Kirk dropped some knowledge on his Twitter followers this week regarding critisms to Ethereum. Emojis aside, it looks like Shatner knows his stuff.
His viewpoints don’t take into account the fact that the code has to be audited by an auditing firm and approved by consortium or it doesn’t get accepted. 🙄 He thinks it exists in a bubble. That’s why we have ERC-20, ERC-721… ERC-1701😏
— William Shatner (@WilliamShatner) November 7, 2018
What’s New at CoinCentral?
How to Buy Bitcoin Anonymously in 2018: Looking to buy some bitcoin while keeping your identity hidden? We won’t judge.
A Brief History of Bitcoin Futures and What Comes Next: Bitcoin futures provide a way to trade the asset without ever actually owning. Here’s how they came about (and what’s next in store).
Five Popular Dapps on Ethereum You Can Use Today: Although dapps haven’t gotten the adoption we thought they would, there’s still plenty of great ones out there you can use.
Cryptojacking, Hacks, and Scams: N.Korea Is Ramping up Cyber Attacks: North Korea is allegedly at it again. This time taking the attacks online.
A Beginner’s Guide to Dogecoin Mining: Much mining. Such coin. Wow.
Blockchain Technology Job Market and Salary Trends so Far: The market is down but blockchain jobs are as hot as ever.
Understanding the Three Types of Stablecoins: There’s more than one way to mint a stablecoin. Here’s how.
Sony, Trezor, and Ledger Announce Major Crypto Hardware Updates: Trezor and Ledger aren’t the only two household hardware wallet names anymore.
Wirex Receives E-Money License: Wirex is bringing crypto to the people and doing so within legal regulations.
What Is a Bitcoin ETF Anyway? (And Other Questions You May Have): What is a Bitcoin ETF? What are they used for? Let’s find out.
What the Upcoming Bitcoin Cash Hard Fork Means for You: The Bitcoin Cash community is going through a civil war. Here’s what you need to know.
The Diamond Blockchain: Ending Blood Diamonds with New Tech: One of the world’s largest diamond producers is stepping up their game with blockchain.
EtherDelta Founder Charged with Operating Unregistered Securities Exchange: Looks like decentralized exchanges aren’t as bulletproof as we thought.
Cryptocurrency News from Around the World
Seoul Starts Blockchain Initiatives: In partnership with ICON, The Seoul Metropolitan Government announced at the self-hosted Blockchain Internation Digital Festival three projects for citizens they’ve been working on. The first is a blockchain ID card that Seoul residents can store virtually on their phone. From their digital ID, citizens are able to vote and receive S-Coin rewards, the collaboration’s second project. Finally, the conference team demonstrated S-Coin payments, with which you can purchase items through the scan of a QR code.
This week marks another hearty notch in the continued uptick in cryptocurrency markets, and boy, is it more fun to write about cryptocurrency market gains rather than weekly losses for…
ABOUT THE AUTHOR
ABOUT THE AUTHOR
Based in Austin, TX, Steven is the Executive Editor at CoinCentral. He’s interviewed industry heavyweights such as Wanchain President Dustin Byington, TechCrunch Editor-in-Chief Josh Constine, IOST CEO Jimmy Zhong, Celsius Network CEO Alex Mashinsky, and ICON co-founder Min Kim among others. Outside of his role at CoinCentral, Steven is a co-founder and CEO of Coin Clear, a mobile app that automates cryptocurrency investments. You can follow him on Twitter @TheRealBucci to read his “clever insights on the crypto industry.” His words, not ours.