Daily Crypto Nooooooz

[indiamikezulu]

And -- first time ever -- here is crypto noooz from a source beyond Planet Krypto:

'South Korea and Japan's extreme premium rates did not dematerialize overnight. It began with the stabilization of the Chinese market and the resumption of withdrawals led by the big three Bitcoin exchanges in China - Huobi, OKCoin and BTCC.

As the global market stabilized and the Chinese Bitcoin exchange market recovered, premiums started to decrease. Chinese exchanges, which used to process Bitcoin trades around 25 percent lower than the global average price, began to process trades at a value higher than the global average Bitcoin price.

During that time, liquidity in the Japanese and South Korean markets also increased drastically. Some of the largest companies in Japan, including the multi-billion dollar internet conglomerate GMO, opened a Bitcoin exchange to address the rapidly increasing demand for Bitcoin and South Korean exchanges also began to focus on providing higher liquidity toward traders.

Ultimately, the recovery of the Chinese market acted as a catalyst for global Bitcoin exchange market stabilization and standardization.'

http://www.zerohedge.com/news/2017-06-11/bitcoin-surges-above-3000-asian-premium-collapses

[indiamikezulu]

'Two of Spain's weakest lenders are the focus of investor panic this weekend, raising fears of another Spanish banking crisis.

Liberbank, a regional bank formed from a merger of three failed savings banks in 2011, has seen the value of its riskiest bonds collapse by 60 per cent in the past two trading days, while its stockmarket value has halved. It is seen as one of the riskiest lenders in Spain because it is saddled with mountains of bad property assets.'

http://www.theaustralian.com.au/business/crisis-fears-take-hold-as-spains-weaker-banks-come-under-siege/news-story/c2e7acdcd5e88ddf210f163e30b29f75


'Spain's stock market regulator has imposed a ban on short selling in Liberbank . . . '

https://www.ft.com/content/5528c234-1df8-31bc-ae5b-814fffb09373


Wa ha ha!! This is the financial equivalent of being held at gunpoint in the pouring rain to sing hymns of praise to Glorious Leader.

[indiamikezulu]

Big-Picture Thoughts

Yup, okay: things are a mite frenzied.
But . . . the macroeconomic background will ultimately just keep shovelin' capital into cryptos.

The Bitcoin-Aug-1st thing -- the next shouting-match over Bitcoin's scaling concerns -- is getting quite a few mentions.
And there is AlSO scuttlebutt about the number/flimsiness of ETH's ICOs.

And total crypto cap hit 61% today. That's dance-in-the-streets crazy, folks. Historic.
Shoot, I remember when TOTAL crypto cap was TWO percent. That is, cryptos other than BTC (or ETH) are now unarguably candidates for high volume/price.

Let's focus on the fact that crypto prices are so much measured against Bitcoin.
(That will change – I advocate bullion-GRS pricing/trades.)

The notion of a 'backstop' coin keeps coming to me. When things go boom! all those smarties who are presently shouting up the price of . . . everything . . . will need a crypto to scuttle to, but Bitcoin will be less than ever the choice-for-scuttle.

(Note that some will scuttle to fiat, but the scuttling to fiat will become a less attractive option over time.)

GRS is a splendid candidate for 'backstop function.'

[jackielove4u]

Big-Picture Thoughts

Yup, okay: things are a mite frenzied.
But . . . the macroeconomic background will ultimately just keep shovelin' capital into cryptos.

The Bitcoin-Aug-1st thing -- the next shouting-match over Bitcoin's scaling concerns -- is getting quite a few mentions.
And there is AlSO scuttlebutt about the number/flimsiness of ETH's ICOs.

And total crypto cap hit 61% today. That's dance-in-the-streets crazy, folks. Historic.
Shoot, I remember when TOTAL crypto cap was TWO percent. That is, cryptos other than BTC (or ETH) are now unarguably candidates for high volume/price.

Let's focus on the fact that crypto prices are so much measured against Bitcoin.
(That will change – I advocate bullion-GRS pricing/trades.)

The notion of a 'backstop' coin keeps coming to me. When things go boom! all those smarties who are presently shouting up the price of . . . everything . . . will need a crypto to scuttle to, but Bitcoin will be less than ever the choice-for-scuttle.

(Note that some will scuttle to fiat, but the scuttling to fiat will become a less attractive option over time.)

GRS is a splendid candidate for 'backstop function.'

Did you buy Bancor? LOL

[indiamikezulu]

'Concealment money laundering'

http://www.jdsupra.com/legalnews/senators-propose-the-combatting-money-17858/

What other sort of money laundering is there? Right-out-in-the-open money laundering? Do they have a greeter at the front door? 'Good morning, welcome to Global Inc. R.O.I.T.O. Money Laundering.'

[indiamikezulu]

How does our 'Occasional Merchant-Trader Project' work?

Suppose a merchant accepts a sum of GRS during a price-spike. The price drops. BAM! She loses money. Not a great adoption model.

We do the opposite: I advise 'LHDG' to accept some GRS (for groceries) when the price is nice. The GRS actually stays in my system. Then, when GRS is up in price, I sell that GRS. The Bitcoin profit becomes 'GRS-earmarked BTC.' When the price dips, I buy back in.

Sigh: LHDG is making a ludicrous profit!

[jackielove4u]

How does our 'Occasional Merchant-Trader Project' work?

Suppose a merchant accepts a sum of GRS during a price-spike? The price drops. BAM! She loses money. Not a great adoption model.

We do the opposite: I advise 'LHDG' to accept some GRS (for groceries) when the price is nice. The GRS actually stays in my system. Then, when GRS is up in price, I sell that GRS. The Bitcoin profit becomes 'GRS-earmarked BTC.' When the price dips, I buy back in.

Sigh: LHDG is making a ludicrous profit!

Wow thats a nice idea!

[indiamikezulu]

http://money.cnn.com/2017/06/16/technology/internet-censorship-india-human-rights-watch/index.html

Cryptos will win – there! I got it in at the first!

Win what? The unholy battle between Government desire to control, and human desire to escape control.

Think back on how the Chinese SmackDown of late 2013 affected crypto prices. But if it 'worked,' how come market cap has risen from ten billion to a hundred billion?

I have a wonderful memory of a day during the ugly ugly period of the '98 Indonesian insurrection. In order to stop a planned march, the state closed off with barbed-wire barricades an area about a mile square. In order to prevent a massacre, the march was called off. But tens of millions of folks followed the events, and those events showed that the reasons for the march were good reasons: the government was corrupt out the wazoo; wasn't gonna admit that or change; so displacing it was the only real option.

Thus, if Constable Muffincrust starts lumbering about with his Anti-Crypto-Legislation club, and cryptos crash in price, start buying like mad. Why? Because that in itself will prove the need for cryptos.

[indiamikezulu]

How does our 'Occasional Merchant-Trader Project' work?

Suppose a merchant accepts a sum of GRS during a price-spike? The price drops. BAM! She loses money. Not a great adoption model.

We do the opposite: I advise 'LHDG' to accept some GRS (for groceries) when the price is nice. The GRS actually stays in my system. Then, when GRS is up in price, I sell that GRS. The Bitcoin profit becomes 'GRS-earmarked BTC.' When the price dips, I buy back in.

Sigh: LHDG is making a ludicrous profit!

Wow thats a nice idea!

Morning, Jackie. Your enthusiasm means a very great deal to me!

We have a swag of ideas based on a clear premise: developing honest mid-term projects benefits those who would use GRS as a currency, and those who do the hard yards of development.

Note: LHDG's GRS-earmarked BTC is presently in buy-support on Cryptopia.

[indiamikezulu]

It's so hard to theorise and suggest without being seen as a troll!

This article -- https://cointelegraph.com/news/goldman-sachs-predicts-bearish-movement-for-bitcoin-once-it-reaches-3100 -- suggests that Ethereum might have better gains this year than Bitcoin. I suspect so too.

There's a GRS-ETH pair here: https://www.coinexchange.io/market/GRS/ETH

The price today is 0.000160. I have a small bid up, to buy GRS with ETH, at 150.

If anyone really wants to buy one or two ETH's worth of GRS, I will put bids up at the going rate. PM me anytime.

[indiamikezulu]

'Like Puerto Rico, Illinois has a massive pension crisis. Its unfunded pension liability for the state's five major plans grew 25 percent alone in one year, reaching $251 billion . . . '

http://www.cbsnews.com/news/could-illinois-be-the-first-state-to-file-for-bankruptcy/

That's a quarter of a trillion bucks, readers.

And it's the reason for this article: http://www.zerohedge.com/news/2017-06-17/central-banks-are-driving-many-cryptocurrencies

[indiamikezulu]

As the Guide says, 'Don't Panic.' Meanwhile, there's this:

' . . . maintain 100 percent control of their Bitcoin, rather than keeping it in exchanges.'

https://cointelegraph.com/news/new-initiative-advises-users-to-maintain-100-percent-control-of-their-bitcoin

I'm sharply aware that GRS is a BTC-oriented crypto; but change is the only constant.

The GRS-ETH price at this second is: 0.000163 (as best I can honetly work it out) Got a bid up to buy an ETH's worth of GRS on Coinexchange.

And we have a pair here: https://www.cryptopia.co.nz/Exchange/?market=GRS_LTC

I just started poking about here.

[indiamikezulu]

The following isn't an attack on Ether. Rather, it's an insight into the forces in play:

'It's a fact that raising that much cash through a standard VC process would require a credible team, multiple rounds of funding, with much due diligence and milestones along the way. None of that happened here -- Bancor went from appearing on the scene 5 months ago to raising 9-digits cash with no demonstration that their scheme actually works.'

http://hackingdistributed.com/2017/06/19/bancor-is-flawed/

[indiamikezulu]

What is South Korea's population? About 50 million. Now check here: http://coinmarketcap.com/currencies/ethereum/#markets

The $U.S.-value of Korean Won trading is greater than that of BTC-ETH.


Now look here: http://coinmarketcap.com/currencies/bitcoin/#markets

A half of the top-twenty pairs are crypto-fiat (and one is USDT). Deep breath, campers. This is a noo age.


If you are a financial-news junkie, you know that some U.S. cities, counties, and a territory, are bankrupt -- and a state is about to go on the list; and that pension funds all over the place are going under.

The Italian banking system is rubbish.

Deutsche Bank alone has enough bad debt to sink the world.

One of Spain's banks recently just laid down and died. Another is now in trouble.

All four of Australia's biggest banks had their credit ratings lowered yesterday.

And this morning, this:

'The Management Board of Bremer Landesbank decided to cancel, at the next Interest Payment Date, all payment of interest on the AT1 Notes forming part of the own funds . . . '

http://www.dgap.de/dgap/News/adhoc/bremer-landesbank-kreditanstalt-oldenburg-girozentrale-the-management-board-bremer-landesbank-decided-cancel-the-next-interest-payment-date-all-payment-interest-the-notes-forming-part-the-own-funds/?newsID=1012211

[indiamikezulu]

' . . . investment conglomerate Digital Currency Group, now has enough influence to push through at least the first portion of the agreement, though it's not without its dissenters.

Come August, a number of outcomes are plausible. Some are more likely than others. Bitcoin could be upgraded smoothly, or not. But, the big conclusion could play out in many different ways.'

http://www.coindesk.com/bitcoin-scaling-upgrade-finally-happen-fail/