Consensus 2018 is over, but NY Blockchain Week isn’t over yet
As the most hyped conference of the brief history of cryptoassets came to an end, people appeared “jaded and fatigued”, in contrast to 2017’s excitement. Maybe it was last months’ bear market, the ubiquitous pump and dumps, or Twitter’s spammy ‘5000 ether giveaways’. Hard to tell, but the markets felt the lack of energy and failed to rally.
Worry not, there are still three more days of events on the block! Today you can followthe 3rd edition of NY’s Token Summit that gathers some of Consensus’ best speakers for this interesting set of talks. There’s more to it today, from the Crypto Influence Summit to the Blockchain, Accounting, Audit & Tax Conference. Additionally, there’s even more after that too!
Nevertheless, there were some real reasons to be bullish on Consensus’ final day. The fireside between Elizabeth Stark, from Lightning Labs, and Jack Dorsey, from Twitter and Square, was highly anticipated and didn’t disappoint. It seems Jack is working hard to bring Bitcoin, and crypto, to the masses and to the unbanked; adoption is all this space needs. Here are Coindesk’s and Quartz’s summaries for further insights.
Total market cap is still below £295 ($400) billion, even though the top 100 projects managed to appreciate 3.5% on average. Basic Attention Token, the cryptoasset we listed this week, was the third top performer and appreciated 17%, likely due to rumours stating that it could also be added to a well-known American exchange. Here’s a great primer on BAT and its ‘Brave’ browser.
Fundamental-wise, the French Finance Minister is “passionate” about this space and wants to make his country “the 1st place for blockchain and cryptoassets innovation in Europe”. Good news, however, will help bitcoin bears resolve their bias? Maybe this charthinting at a possible Adam & Eve double bottom — a historically bullish reversal pattern where price action congests into a tight range and the cryptoasset then breaks to the upside — could do. Contrastingly, it may not and we should all quit the ‘hopium’ TA. On the more speculative side of the fence, some are even pulling their wild cards and predicting the short-term future of ETH whilst gambling on EOS. Hence, why at LBX we reiterate on the fact that it’s important to always do your research.
In any scenario, it’s true the markets are boring these days. Perhaps that’s why the SEC decided to spice things up a little and promise “2% returns on Tier 1 investors that participate in their pre-ICO stage”. Yes, that’s right. Due to the rampant ICO scandals — including $100 million founder fights and fraud charges — the SEC decided to offer an “opportunity you won’t want to miss”. Some say that this mock ICO clearly has a lot of red flags — they even forgot to list their advisors!
Peak conference? The Global Blockchain Technology Summit starts today in London, featuring mostly corporate and governmental speakers. No Twitter presence though.
Basic risk management? Read this quick primer on risk management techniques applied to cryptoasset trading and learn how to calculate your risk and set-up stop losses.
You have likely heard about Casper FFG, Vitalik Buterin’s proposal for Ethereum’s new consensus algorithm. Do you know the real economics behind it? Fresh analysis shows no rational participant would want to participate in its Proof-of-Stake structure. Here’s Part 2.
You have likely heard about the crypto cartel theory. Now there’s a new take, penned by the author who best rebutted that creative article. It aims to uncover the ‘real cartel’ through 11 well-argued albeit farfetched revelations. He only forgot this Bitmain one.
You have likely heard about the Delegated Proof-of-Stake debate. Dan Larimer, the CTO behind EOS, Steem, and Bitshares — who pioneered the DPOS concept — argues with Vitalik Buterin about DPOS BFT, the latest implementation of the consensus algorithm.