This is your ITB Media #DailyCryptoBrief for Thursday, September 3, 2020.
In Mainstream Financial News.
#CNBC reports: Widespread overconfidence is putting investors in a dangerous situation, Invesco’s Kristina Hooper warns – https://cnb.cx/3gvtRvF
Widespread overconfidence is putting investors in a dangerous situation, Invesco’s Kristina Hooper warns. … Hooper observes that more and more investors, particularly on the retail side, are making risky one-sided bets off their polarized market views. She believes it’s a major trap that will result in deep losses.
#Bloomberg Headline: Bitcoin Falls Most in Month as Momentum Shifts During Risk Rally – https://bloom.bg/3hXUfj1
The world’s largest cryptocurrency fell as much as 6.9% to $11,187 in New York on Wednesday before recouping some of the losses. The drop was the most since early August. Bitcoin last touched $12,000 two weeks ago.
#AsiaTimes Reports: Bitcoin is right on track: PlanB – https://bit.ly/350Ckor
PlanB, the creator of the bitcoin stock-to-flow (S2F) price prediction model that sees the leading crypto skyrocketing to $288,000 by 2024, has reminded investors in a tweet that “patience is a virtue.” The influential analyst said, “Reminder: we are still early, only 4 months after #bitcoin 2020 halving, nicely between 2012 and 2016 paths.”
#WallStreetJournal Headline: Cash App’s Surge During Covid-19 Pandemic Fuels Square Stock – https://on.wsj.com/3bqSI2s
Square Inc.’s Cash App looks a lot like a bank—digitally storing and transferring money for users. Investors don’t seem to mind. Square shares have rallied 28% in the past month and are up 166% since the start of the year, while bank stocks have fallen sharply. The run-up is mostly due to the popularity of its Cash App offering, which lets consumers send money to one another via smartphone, purchase things with a prepaid debit card and invest in bitcoin and slices of individual stocks, analysts and investors said.
#Forbes Headline: What’s Next For Bitcoin Prices After Their Latest Retracement? – https://bit.ly/31X0A97
After dropping to as little as $11,217.45 earlier this morning, the digital currency has been trading between $11,200 and $11,500, additional CoinDesk figures show.
In Social Media headlines.
Altcoin Daily (YouTube) posts a video titled: URGENT!! Cryptocurrency September Sell-Off Happening in 3.. 2.. 1.. Boom! | Why is Bitcoin Dropping?
The Moon (YouTube) reports: IT’S HAPPENING!!!!!!!! BITCOIN IS CRASHING TO $9,600!!!
Data Dash (YouTube) posts a video titled: Ethereum Soars To $480 | What’s Going On In DeFi?
On Crypto Zombie (YouTube): BITCOIN MAJOR SELL-OFF!!!! GAME OVER FOR DEFI?!! THIS IS A HUGE PROBLEM…
In Crypto Publications headlines.
#Cointelegraph reports: ‘Crypto Valley’ residents can now pay taxes in Bitcoin – https://bit.ly/2QTFamV
The Swiss canton of Zug is making it easier to imagine a world in which cryptocurrency users are resolutely in the mainstream. The canton — which has earned itself the moniker of “Crypto Valley” for its positive stance towards cryptocurrencies — will begin allowing citizens to pay taxes in Bitcoin (BTC) and Ether (ETH).
#Coindesk headline: New Crypto Derivatives Let You Bet on (or Against) Tether’s Solvency – https://bit.ly/3lM2voC
After years of debating whether tether (USDT) is fully backed 1-for-1 with U.S. dollars, the stablecoin’s critics and defenders alike can now put their money where their mouths are.
#Cryptonews.com reports on its front page: Russian Ministry’s Crypto Mining Plans ‘a Cause for Concern’ – https://bit.ly/2YZbmcU
The Russian Ministry of Finance wants to ban crypto miners from receiving token rewards leading to what newspaper Izvestia has called “a de facto ban on the circulation of cryptoassets in Russia.” The newspaper said it has seen Ministry of Finance-drafted legislation proposals pertaining to a forthcoming crypto law that politicians claim may be ready for parliamentary debate as early as this month
This has been your ITB Media Daily Crypto Brief for Thursday, September 3, 2020.
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Bitcoin Brief – Goldman’s Crypto Report & Is Grayscale GBTC Buying All $BTC
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Stories:
Geminai & Samsong:
https://www.coindesk.com/gemini-first-us-exchange-to-integrate-with-samsungs-blockchain-wallet
https://www.samsung.com/global/galaxy/apps/samsung-blockchain/
Goldman’s Report:
https://resources.goldman.com/content/dam/pwm/direct-links/isg-calls/client_call_materials_27May20.pdf?sa=n&rd=n
(5 pages)
https://twitter.com/winklevoss/status/1265638690287759363?s=20
https://twitter.com/tylerwinklevoss/status/1265701227477839873?s=20
https://twitter.com/tylerwinklevoss/status/1265705272678498305?s=20
Grayscale Buying Up All the Bitcoin
https://cryptopotato.com/institutional-interest-grayscale-bought-33-of-all-bitcoins-mined-over-the-past-100-days/
Exchange Volume at new Lows:
https://www.coindesk.com/number-of-bitcoins-on-crypto-exchanges-hits-18-month-low
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Useful Educational Sites:
Full Node Set Up: https://bitcoin.org/en/full-node
Lightning Node Set Up: https://medium.com/lightning-power-users/windows-macos-lightning-network-284bd5034340
Mempool: https://dedi.jochen-hoenicke.de/queue/#1w
Useful Charts: http://charts.woobull.com/
Regulation overview in each state:
https://www.carltonfields.com/state-regulations-on-virtual-currency-and-blockchain-technologies/
Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down
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https://twitter.com/TraceMayer/status/1080287680804646918
https://twitter.com/nvk/status/1079790481817522190
https://twitter.com/TuurDemeester/status/1078682801954799617
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See Regulation overview in each state here:
https://www.carltonfields.com/state-regulations-on-virtual-currency-and-blockchain-technologies/
Useful Bitcoin Sites:
Full Node Set Up: https://bitcoin.org/en/full-node
Lightning Node Set Up: https://medium.com/lightning-power-users/windows-macos-lightning-network-284bd5034340
Mempool: https://dedi.jochen-hoenicke.de/queue/#1w
Useful Charts: http://charts.woobull.com/
State Regulations: See Regulation overview in each state here:
https://www.carltonfields.com/state-regulations-on-virtual-currency-and-blockchain-technologies/
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For the full story, click here: https://www.ethnews.com/daily-byte-friday-december-21-2018
Facebook reportedly pursuing stablecoin.
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Yesterday, the CFTC asked for information to help it understand Ethereum. The community has been quick to respond.
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