Crypto Industry and Community Meet Trouble Halfway (Weekly Digest, Week 50)

Facebook is searching for talents, Bitmain closes its Israeli branch, Jeremy Henrickson leaves Coinbase, Gemini launches a mobile wallet for crypto traders, Opera adds a crypto wallet to its Android browser, Basis shuts down, the number of crypto users increases, Ethereum software client has published a new code, Ethereum-based Geth software releases update, UAE Exchange partners with Ripple, Revolut obtains a banking license

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Ethereum On-chain Transactions Get Stable after the Constantinople Hard Fork Delay

The much awaited hard fork of Ethereum Constantinople that was scheduled for implementation on Ethereum last week was postponed due to the security vulnerability found in one of the Ethereum Investment Proposals (EIP). With developers working on this, the implementation has been now pushed back to February 27, 2019. Amidst all this, the transactions on the chain have found stability from its users as per Diar’s latest report, “While developers are motoring on the fix, on-chain transaction count has found a stable footing from its user-base.” The transaction count has also been estimated to be 15 million for January 2019. The below- chart shows from mid-2018, the transaction count has been on a constant drop. However, it gained stability around September where it oscillated between 16 to 17 million transactions. However, the end of the last year saw a drop of about 50 percent in transaction count than at the starting of the year. Ether on-chain Transactions Hit Peak while USD Value Falls to 22-Month Low The on-chain transaction volume of Ethereum is showing growth as last month, in December 2018, it reached its peak. The volume of over 115 million Ether has been registered that has been the highest since the network genesis, on excluding the set of activities following the hard fork caused by the Decentralized Autonomous Organization (DAO) hack in 2016. The report says Ethereum has very low fees that mean it is unlikely to be a “hindrance” in the growth of the Ethereum Network. Moreover, the planned Constantinople hard fork is further working on bringing down the fees for certain types of transactions. However, the crash in Ethereum prices is affecting the amount of on-chain USD value. From the high of about $1,400 in December 2017, Ethereum is currently down over 90 percent. At the time of writing, Ether has been trading around $116. The direct result of the loss in value has been the on-chain USD value hitting its 22-month low. Diar report says, the total Dollar value last year has been $815 million in comparison to the $1.1 billion from 2017. “A 97% drop in on chain transaction value from the peak in January versus December 2018 was by and large the cause of an 80% drop in Ethereum's price.” Meanwhile, the Unique Ethereum Addresses are on the rise as well as shown in the below chart.
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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Good Things Happen To Those Who Wait

Signs of weakness appear while playing on the edge. ETH/USD must lead now or suffer for months. BTC/USD does not work for either side of the market. The most rising value right now is patience. In a world where everything goes faster than our mind is capable of handling, patience is today a value that is not taught and even less praised.   However, in professional trading, being patient is an asset as valuable as money. They are directly correlated, the less patience, the less performance, and vice versa. As one of our contributors, known as Colibri Trader, wrote: "Some traders fail to realize that to be successful will take time. They often fall prey to their own impatience in the hope of earning fast money. It could be a rough environment, and charts might be hard to read, so it is wise at times to step back in order to avoid costly mistakes. Don’t rush things out, or try to enter in a trade at all costs by just following your gut. The market could be quite tricky and often does send out the wrong signs. Wait patiently for the best opportunities to align themselves and then act mercilessly." ETH/BTC Daily Chart The ETH/BTC pair insists on testing analysts' patience with their dangerous game on the edge of the bearish landscape. The setup says with clarity, perhaps excessive, that this point will not be passed and that this is the best point to enter long into the Ethereum. The MACD in the daily range is turning bullish just above the line dividing the upside of the bearish side of the indicator. The DMI shows the bears with a slight advantage, but ...Full story available on Benzinga.com
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No One Wants to Miss the Crypto-Craze as Blockchain Brain Drain Sees Employees Quit Airbnb, Facebook, & Microsoft to Join DLT

Despite the prolonged bear market, Silicon Valley employees are leaving their positions at companies like Microsoft, Google, Airbnb, and Facebook to join the crypto space. The job growth in this sector is outpacing that of crypto prices as has been shared in the recent Glassdoor Study which stated, “As Bitcoin has captured the public interest over the past year, companies have rapidly invested in hiring for roles related to Bitcoin and blockchain, even in the face of regulatory uncertainty and price volatility.” Former PayPal and Youtube employee, Yu Pan is an R&D Engineer at Origin Protocol due to his interest in the “magic of public key cryptography.” Pan has strong faith in decentralized applications which he believes, “have the potential to change the world.” As for what’s better in this space, he shares, “Unlike working on centralized applications, people here care more about the collective effort to build community and distributed solutions.” “The blockchain industry has reached the critical mass of early adopters. I truly believe that after 2017 there won't be a world without cryptocurrencies,” Said Former Facebook employee, Henry Liu, Managing Partner of YGC Capital. “I've missed the booms for dot-com, the mobile adoption, and the sharing economy, but I won't miss this. “I thought Facebook moves fast, but in comparison to blockchain, it's like a car next to a bullet-train,” said Liu to Forbes. These people have strong believe in the blockchain space and are expecting huge growth in this sector as Kari Tarr, Director of Operations, of Good Money and former employee of Airbnb and Amazon shares, “the next few years are when we’ll see 10-100X growth. This type of digitization of legacy industries happens in waves.” However, these experts don't believe Bitcoin will remain standard, Liu said, “Bitcoin won't go away, but we also don't see it growing either,” and places his bets on other projects that are focusing on adoption and usage like IOTA. But Bitcoin surely has potential as the gold standard for crypto as Akbar Thobhani, Co-Founder and CEO of SFOX who previously worked at Airbnb, Stamps.com, and NASA said, “Bitcoin will probably always be the “gold standard” because it has the largest adoption of any cryptocurrency, the simplest use case and the most robust infrastructure of any cryptocurrency.” In the long run, crypto space is expected to change but for the better, “We’ll move beyond it being used as a pure speculative asset to an era of real functional value,” Mike Zajko who left Facebook to become the head of sales at CoinList. “We want to create a future where buyers and sellers can transact in the wild by using neutral tools that don't favor either party. A perfect use case for this is the sharing economy,” said Pan. As crypto reaches the height of awareness and goes mainstream, people and organizations can't afford to acknowledge and explore this industry which is all about building decentralized solutions with collective efforts.
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