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Raúl's Cryptonews #7: Coinbase and Bitcoin Cash, MakerDAO launches Dai, and a few analysis.

December 25 · Issue #7 · View online
Six Angles
Cryptonews: Christmas Edition! This week has been a bit boring: 95% of the articles were related to Bitcoin’s price. Yes, we know, it’s falling, but it’s not important! I can’t avoid talking about that, but I have tried to focus on tech and great projects in the last part of the newsletter :)

Price movements
After a few crazy weeks, where a lot of cryptos doubled and even tripled, these past days almost all of them lost 20-30% of their value. Some people started to look for possible reasons, but IMO it’s simple: cryptos are highly volatile, and a correction was expected (and even necessary). At the end of the day, it’s important to remember that the fundamentals haven’t changed: if you buy the idea of cryptos changing the world and becoming the new Internet, these price movements won’t change anything (besides offering discounts to buy more).
Coinbase and Bitcoin Cash
After Bitcoin Cash fork, Coinbase announced their users will be able to withdraw their Bitcoin Cash on January 1st, so everyone assumed Bitcoin Cash would be added to Coinbase that day. But this Tuesday Coinbase added it by surprise, and the price skyrocketed.
The interesting part is that the price movement started the day before, in an obvious case of insider trading. Coinbase replied that their employee trading policy forbids that, but it’s impossible to stop. They have confirmed they will add more coins in 2018, so I’m sure we will see this happening again.
MakerDAO launches Dai
The idea behind stablecoins is simple and very much needed: a cryptocurrency that does not fluctuate in value. To achieve this, the stablecoin’s price has to be pegged to a stable asset. In the case of Maker, 1 Dai is always worth $1, but other projects are using different strategies (e.g., Digix is working on a stablecoin that tracks gold’s price).
To learn more:
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