Everyone better start praying to Satoshi and start praying soon. The market took another hammering this week, nosediving over 15 percent. Only a handful of cryptocurrencies in the top 100 saw green this week. The list includes Bitcoin SV (9.99%), Waves (25.75%), Factom (12.75%), and Huobi Token (4.27%). But what about the three big boys?
Bitcoin tumbled 14.82% down to below $3,500.
XRP lost 15.77% over the week with a current price tag of just over $0.30.
Ethereum bled a gruesome 23.19% since last week. You can now grab a full coin for under $90.
Woh! You had better start praying now.
Meanwhile, Wyoming Takes Another Pro-Blockchain Stance: The Cowboy State continues to quietly build themselves up as a cryptocurrency and blockchain hub in the United States. After passing a series of blockchain-friendly bills in February, the legislative committee recently added another piece of blockchain legislation to the list. The new bill, receiving a vote of 13-1 for, allows banks in the state to provide services for blockchain assets.
The bill is apparently the product of a “Blockchain Task Force” committee. The purpose of the committee was (and is) to discover the challenges that blockchain entrepreneurs face.
For those that know, or live, in Wyoming, this ruling should come as no surprise. The state was dubbed the Equality State as the first state allowing women to vote and has consistently passed progressive legislation.
"BREAKING! #Wyoming legislative committee passed #blockchain #bank bill 13-1 over heavy opposition from the banking industry. Congratulations and thanks to all out supporters! pic.twitter.com/nQDjALykRk — Caitlin Long (@CaitlinLong_) November 30, 2018"
Survey Says…Crypto!: According to a recent survey by job platform Humans, 29 percent of U.S. freelancers would like to receive at least part of their income in cryptocurrency. The freelancers argue that legacy systems take too long, limit daily transfers, and charge exorbitant fees among other issues. For example, PayPal charges almost three percent on many of the transactions on the platform.
However, merchant adoption is still one of the biggest roadblocks. Having to convert to fiat removes much of the value that crypto incomes bring. That being said, there are plenty of projects making crypto-friendly merchants a soon-to-be reality.
People Saying Things
Breyer Don’t Care: Billionaire Investor Jim Breyer made a long-term bullish argument for cryptocurrency at Fortune’s 2018 Global Tech Forum. He stated on the conference stage that although “we are close to a nuclear winter right now,” the industry is filled with some of the best computer scientists and Ph.D. students and postdocs. And, “you don’t want to bet against the best and brightest in the world.”
My advice to the trader out there
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