Fake news for Bears and Bulls

4 min


Ethereum fell by about $ eight at the moment from $202 to circa $194 on pretty low buying and selling volumes after some days of 0.00% value adjustments. Why? We have no idea, however it could have had one thing to do with fake news.

Studying merchants’ feedback you’d assume this crashed from $1,420 to now $194, an 87% drop. But it was only a penny – or, superb, a pound.

Suggesting what? Properly, it maybe suggests everybody has bought and is form of in glee anticipating it to go down. It strikes a penny, and their choices confirmed.

Bringing us to one thing we didn’t fairly wish to open with, however that is desk chat, the place we speak what we like, underneath the duvet of the paywall.

Crypto longs and shorts, October 2018.

Some merchants open a protracted or quick at the moment, they usually shut it tomorrow. Quickly they’ll don’t have anything to open however McDonalds.

Others do it a bit extra long run. Think about, for instance, if you happen to had opened a protracted in 2014 and at last closed it in November 2017.

Math wiz stuff, but when bitcoin goes to halve in 2020, and if ethereum’s inflation is slashed by greater than 2/third maybe now subsequent yr, how do you value that in? Or higher requested, how do you value your self in whereas not fairly alerting the market?

Devcon Prague, October 2018.

They’re not shy. We’re finished ready. A lot status now on the road. However perhaps it’s time.

Bitcoin and ethereum are very a lot the folks’s bailout. Wealth for a lot of. Amongst them somebody maybe has a grand imaginative and prescient.

Blockchain metropolis or bust. If not they, the dream has now taken a lifetime of its personal. So too our thoughts right here at desk chat. Poetry time, our very personal:

Rise o rise you sleeping thunder,
braveness take to leap asunder,
for kings beg,
so the monks,
of your surprise.

To deliver again that new age,
the place progress guidelines once more,
ship the swamp to its place,
like no president can.

Rise o rise you males of may,
in your arms the world round,
by the grace of mighty god,
by the love of genes about.

For the previous is previous turning into,
and the longer term futaraming,
to your pleasure pleasure lot,
take the braveness,
dive the world.

Jamie Dimon’s JP Morgan says: “We’re huge believers in Ethereum.” That’s Dimon’s subordinate, Umar Farooq, JP Morgan’s head of blockchain initiatives.

“We’re the one monetary participant that owns all the stack, from the applying to the protocol,” he said in an announcement concerning the ethereum based mostly personal chain, Quorum.

They apparently plan to tokenize gold in addition to maybe different property, however ethereum’s public blockchain was seemingly not adequate.

“We aren’t at some extent the place we imagine public networks are proper for monetary establishments or companies basically. However you by no means know what’s going to occur in 5 years,” he mentioned, additional including:

“We’re all constructing personal networks however there’s a long-term thought means of what occurs while you get to some extent the place it’s essential do private-public convergence – a connection –and at that time, in case you are in some methods a spinoff of a public platform, it may turn out to be simpler.”

5 years. If we may moderately guess what’s going to occur subsequent yr, we’d be completely satisfied. 5 years on this area…

Bitstamp twitter “advertising and marketing.” October 2018.

We’ve been a bit sloppy in suspecting one thing and never screenshooting it. A really outdated Bitstamp tweet that talked about Trustnodes was re-tweet by the above account.

We obtained a notification naturally. That mentioned Bitstamp Official Promotion, or one thing to that impact, had retweet an outdated tweet by Bitstamp which talked about Trustnodes.

That account has 7.four million followers, whereas Bitstamp has solely circa 300,000. Once we checked, we couldn’t discover the retweet on Bitstamp’s Promotions timeline, presumably as a result of they rapidly deleted it. Now it seems like its gone again to its “unique” title.

Eva Longoria appears to be some actress. She seems to have bought her twitter account to Bitstamp. When precisely will not be clear, however lengthy earlier than they had been purchased out as introduced at the moment with a press launch stating the customer is “NXMH, a Belgium-based holding firm. Owned by NXC, which additionally owns South Korean cryptocurrency trade Korbit.”

You possibly can see on the now archived web page this account only tweets about Bitstamp. Fairly a scandal actually, very a lot worthy of its personal information article, however for now suffices to say these outdated social media networks are very a lot ripe for disruption.

On that word, we needed to get to numerous press releases, however it seems like that must be reserved for perhaps tomorrow.

This section takes numerous effort and time, with “rewards” form of “condensed” as it’s multi functional article. So it isn’t very clear whether or not it’s price it even behind the paywall. But it surely’s numerous enjoyable writing it, and the format is much more edgy. Form of actually the precise journalistic half to journalism.

So we’re reviving it, however the desk chat is unlikely to be printed in a predictable method. Though who is aware of, we’ll see. Benefit from the opening of devcon.

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Lewis

Lewis is a freelance journalist, digital nomad, and crypto enthusiast based out of US. As an avid observer of the rapidly evolving blockchain ecosystem he specializes in the FinTech sector, and when not writing explores the technological landscape of US.

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