My Crypto Week 10 March 18

Well here’s my round up of the week, it’s basically news that jumped out at me I’m not in this full time I work and commute 11 hours a day, I have a wife and family that like to see me, if you think anything is mis-information please let me know, if you have comments feel free to leave them, if you think you can do better I’m open to let you, if you think it’s bullshit then there’s plenty of other sites for you to visit.

Don’t take any of the words on this page as advise it’s just stuff I’m doing or noticed, I know shit! This may become a regular thing, it maybe a one off, I’m not consistent so don’t bank on anything with me.

So this week in my crypto world it’s been mainly setting up masternodes, the first was Chaincoin the other was Zcoin. I was gifted 1000 Chaincoin after setting up 5 nodes for somebody, so it maybe a shitcoin but I have nothing to loose.

I have been involved in mining and setting up a small farm there is a Antminer S9 in place after BT banning the IP and the noise we are looking at setting up a purpose room with it’s own fibre and electricity supply. Currently waiting for some other miners to arrive from China.

Currency wise I’ve done nothing I keep thinking of buying Monero but never get around to it I have some bags XRP and NEO which I’m currently holding, but for me it’s a longterm thing I don’t have the time or inclination for day or swing trading.

ICO’s I have been pointed to two which I don’t think I should name but I looked at the whitepaper for one saw spelling mistakes (I’m the worlds worst speller) but it does not fill me with confidence. Also I could not see the point of the ICO being on the Blockchain, so my brain just switched off.

Russia has reportedly said that it will legalise the cryptocurrency market by the summer, at the instruction of Russia’s President Vladimir Putin. If this does take place and it looks like it will with a date of July 2018 being given, it would seem logical to me to other major states would follow suit not wanting to be left behind.

JP Morgan jumps on the Blockchain bandwagon after many months of Jamie Diamond claiming Bitcoin is a scam. JP Morgan published an official report on their website on the benefits blockchain brings to the financial and business sectors.  It calls blockchain ‘the real deal’, implores financial institutions to get off the sidelines, and projects the future of blockchain adoption by touting its potential impact on organisations.

South Korean bans government officials owning cryptocurrency.   This can only be a good move after the farce of insider trading were the aforementioned would spread rumours that Korea the Worlds largest market for cryptocurrency was banning crypto to force the price down.

Binance Hacked, Wednesday, Binance users complained that their altcoins had been converted to Bitcoin only to purchase the obscure Viacoin off the site.  Binance were quick to find the problem and suspended withdrawals on all affected accounts whilst the trading bot responsible for the phishing attack was I’m guessing deactivated.

On Wednesday evening I did have a text about this and I must admit I do keep a small amount of coin on Binance but I didn’t panic and having worked with IT long enough I just ignored it and got on with my evening, if my cash was gone fretting wasn’t going to help.

Bitcoin slump, inline with the above there was an expected slump and I did get a trading alert that Bitcoin had dropped below £6250 but I set another hoping maybe greed setting in that it would drop into the £5000’s before I would buy, it didn’t drop that low and as of yesterday was back at around £6800 at it’s high.

Twitter scammers faking influencers accounts to steal money, basically that says it all and I was listening to a podcast with Taylor Monahan (co-founder of MyEtherWallet) and to paraphrase her ‘if somebody came up to you in the street and said give me £10 and I’ll give you £50 back, you’d probably say fuck off’ well the breaking news is Twitter is the same, in fact I’d say everywhere is the same.

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