On September 4th, China announced that it was banning token sales. A week later, rumors emerged that the People's Bank of China had ordered Chinese cryptocurrency exchanges to cease trading. These rumors were confirmed when BTCC announced its closure. OKCoin, Huobi and a couple smaller exchanges announced their closure.
About 17 years ago, CNN published an article titled, “The $1.7 trillion dot.com lesson.” It was a recap of everything that went wrong during the dot.com bubble and what lessons were learned. I couldn’t help but notice so many parallels to the cryptocurrency markets.
Like all people who follow cryptocurrency, I was surprised to learn that Ethereum went as low as $0.10 on June 21st. In the past few days, there has been a bunch of theories behind the outage as well as GDAX/Coinbase announcing they will refund all traders who lost money in the crash.
I recently came across a new company on Product Hunt called Blockchani. Blockchaini sells themselves as an independent research, rating and investment analysis on token sales. I love seeing companies like these emerge in the space and hopefully produce quality content.
My 6th grader teachers, Mrs. Collins, always stressed the importance of being patient. Everyday she would tell us that patience is a virtue. This is one of the most important lessons I’ve ever learned. Great success comes from patience.
I was looking for an objective source of news on the Bitcoin scaling debate, but most articles I read seem to be biased for one solution or one group. I am hoping this piece gives you a neutral point of view on what is going on.
On Thursday I attended Token Summit which was my first cryptocurrency conference. It was really great to see such a large community passionate about crypto. I know ICOs and tokens have attracted a lot of controversies, some of which is deserved, but discussing issues in an open forum helps create progress that ultimately leads to better and more successful technology.
We are reaching a watershed moment in the history of cryptocurrency. The price of Bitcoin is close to reaching $2000. I remember starting to read about Bitcoin in 2011 and watching the price go from $1 to $31 to back to $2 by the end of the year.
I am a huge fan of Blockfolio. If you invest in multiple coins across multiple exchanges it is a great way to track your investments. I was really glad to know that Blockfolio now has over 80,000 monthly active users per a tweet from Edward Moncada yesterday.
A few weeks ago as an experiment, I tried to convince my mom to participate in the initial coin offering for iEX.ec. I've been trying to explain bitcoin and Ethereum for years to her, but she hasn't grasped it. I did convince her to let me buy some Ethereum for her.
Adopting the terminology that properly reflects the cryptocurrency market will give the asset class further legitimacy as well as help differentiate us from other types of investing like venture capital where they use the term market capitalization.
For those of you that know me, I've been passionate about cryptocurrency since 2012. I have decided to go full-time and join Grasshopper Capital, a digital currency fund, as an investor to turn my passion into a full-time career. I want to thank the grasshopper for introducing me to the cryptocurrency world. You changed my life!