Goldilocks markets extend as BTC continues drift to converge at $7650 as a handful of dignitaries speaking their minds on crypto. Jamie Dimon & Warren Buffet took a more reserved approach when asked this time on views of Bitcoin; The message was essentially caveat emptor, DYOR. $250bn AUM Lazard CEO Ken Jacobs suggested the existing hegemony of the Greenback being the unilateral reserve currency could indeed be at jeopardy with the advent of crypto; Putin acutely points out that a sovereign backed digital currency is an oxymoron given the borderless nature of cryptoassets but acknowledges his administration reviewing use cases as Alexy Sazanov director of Russia’s Ministry of Finance’s tax & customs policy chimes in saying all gains from crypto trades will be taxed &; the latest u-turn comes from the Polish as they legalize crypto trading lesto warn the public of the risks involved.
Bitcoin Cash evangelists alarmed by the free falling hash power are putting profits aside an teaming up in an attempt to lure back users. The latest is that they’ve gotten two more pools – viaBTC (8.6% total hash power) & bitcoin.com (0.4%)- to endorse. The “Miner’s Choice” is an initiative that urges miners to remove the dust limit and process zero-fee transactions. Aside from tipping the scales against the miners, the limit is there for a reason – so as not to clog up the blocks.
And then there’s Bitmain the company behind the second biggest mining pool and by some estimates dominating the ASICs market with an 80% market share. co-Founder Wu Jihan has made some colorful comments in the past but is opting to stay tight lipped about the event other than believing the company being worth US$12bn ($2.5bn in revenues last year). Coming after IPO plans of two peers, a Japanese conglomerate entering the business with state of the art chips alongside chatter of Samsung allegedly having set up a separate division internally to tackle the space head on, I’d say be conservative with your valuations.
Mastercard’s initiative is interesting. The filed patent that would get merchants catering to itineraries of prospective travellers and would indeed truly be a game changer. Maecenas is making headlines by auctioning 49% stake in Andy Warhol’s 14 Small Electric Chairs. Those that partake will be entitled to fractional ownership.
I am of the view that modern art is the biggest scam ever so will hold my tongue but as you can see, the use cases for blockchain technology are quite literally boundless.
Oh and Rodman is looking to grace the Kim-Trump huddle with his presence backed by naturally, PotCoin.
May trend be your friend… Happy trading!