The world’s biggest mining farm to be built in 2020

Market Summary - Bearish 

Total Market Cap: ~$222.1 billion (-1.5%)                     BTC Price: ~$8,100 (-1.7%)

24-Hour Volume: ~$72.6 billion (-1.6%)                        BTC Dominance: ~65.8% (-0.3%)

Notable movers: 0x (ZRX) (~10%), Augur (REP) (~16.6%)

New coins: -

Over the past 24 hours, total market capitalization dropped again for the 4th consecutive day from ~$225.5 billion to ~$221.2 billion, with most coins either seeing gains or losses in the ~1-3% range. 

BTC is currently trading at ~$8,100, down ~1.7% over yesterday. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and RSI is at ~35 (has been steadily dropping over the past month), indicative of growing bearish momentum. On the weekly chart, BTC is currently testing its 50-EMA support line - a level it has not breached below since April this year. BTC continues to be trading within its lower highs and lower lows trading pattern it has been trading within since late June this year. 

Poll of the Day

How much do you agree with this statement: "I am losing interest in the crypto space."

Why do you say so? Share with me in the polls!  

Plotting

German Bitcoin (BTC) mining company Northern Bitcoin has signed a merger agreement with U.S.-based competitor Whinstone to together create the world's biggest mining farm in 2020.

Founded in 2018, Northern Bitcoin is a stock-traded business that focuses on sustainable BTC mining and has a mining farm that runs on renewable energy situated in Norway.

Whinstone has already began construction on the facility that is expected to have a capacity of 1 gigawatt on an area that spans over 100 acres in Texas, and will purportedly become the biggest data centre in North America. The data center will also allow for the acceleration of video rendering and artificial intelligence applications.

The first construction phase is planned to see the facility be equipped with 300 megawatts and completed in Q1 2020, and the last phase in the Q4 2020.

Game on 

Big backers 

Japanese financial services company, Tokai Tokyo, has become the most recent big Asian financial institution to support tokenized securities platform iSTOX with a recent $5 million injection after its Series A funding last month. That recent funding round was also subscribed to by one of the biggest Thai investment banks, Kiatnakin Phatra Financial Group (KKP). 

The newly acquired funds will go towards building the user base of qualified investors, the issuance of tokens based on stocks, bonds and other structured products, as well as expansion in Asia.

The partnership creates a "strategic gateway" for to Japan via the conglomerate's robust investor network in the country that dates as far back as to 1908. iSTOX expects to be the first fully regulated platform to offer security tokens throughout the world, and intends to reduce transaction costs by getting rid of middlemen and consolidating settlement processes via tokenization. 

Other news 

• Blockchain business HashCash Consultants is collaborating with a group of international car, mining and battery producers to create a blockchain-based supply chain network that tracks minerals.

• Automobili Lamborghini is attempting to use an enterprise blockchain platform to test the originality of the cars sold on the secondary market.

• Michael Novogratz's cryptocurrency merchant bank Galaxy Digital is starting 2 Bitcoin (BTC) funds to bring people who have mostly stayed out of cryptocurrency investing into the cryptocurrency markets, and seeks to bring “the wealth of America”.

Blockchain term of the day - Dust transactions

Minuscule transactions that flood and slow the network, usually deliberately created by people looking to disrupt it.

Crypto calendar  

TBA         - Justin Sun's lunch with Warren Buffett

What you said

"How much do you agree with this statement: "I believe in private blockchains more than I do in public blockchains.""

The average vote was 4. 

"Why do you say so?"

Im not sure too be honest, I mean aren't most blockchains public. What is the purpose of a private blockchain. – To experience the benefits of a blockchain, with a lesser degree of security, without losing governance control. 

 

 

Economics evolve, All agents of production should share in the worlds dividend , this has'nt been the case. A decentralised system will enhance the possibility of equity for all – Yes!

 

 

privacy can be broken more easily – Yeah, it will suck. 

 

 

Mainstream institutions will not adopt public – Yeah, they want a greater degree of control.

 

because they give back the power to the people... – Yep 

 

The block chain is the block chain. If there is consensus security methods, why wouldn't one be as trustworthy as another. GIGO principle applies, also. – The question here is the degree of centralization with private chains.

 

 

i would trust decentralised public blockchain more.. its no brainer. – Me too. 

 

 

Because of disgusting people that use the anonymity for acts against children and trafficking women. I’m totally against it. – Valid point, but what about banks who deliberately take in business from drug cartels? Isn’t that equally as bad?

 

 

Both will be part of our future – Agree.

 

 

Public is always more cumbersome less efficient and in the end more expensive – Haaha not true. Centralization always comes with more costs. 

 

 

Whole point of a blockchain is it being public, transparent. There are simpler ways to do it in private environments – Yeah…

 

 

It’s just the Model T Ford of the car industry, which when 1st released were only capable of doing about 20 miles per hour! Long way to go yet (5-10) years before widespread adoption, which will be driven by some type of Global Black Swan event. Even though we have Hong Kong Riots, never seen before levels of global debt, & now trade war gathering steam between China & US ... etc they are not Black Swan events because they only become known to us in hindsight. They are shocks to the system that we can’t foresee! - We will def see newer and more improved blockchains out there. The question is whether they will be adopted. There are already coins that have better tech than BTC, or protocol coins that have better tech than ETH, but do you see them being adopted? 

See you again tomorrow!

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