News of News for Bears and Bulls

Ethereum fell by about $8 today from $202 to circa $194 on fairly low trading volumes after some days of 0.00% price changes. Why? We do not know, but it may have had something to do with fake news.

Reading traders’ comments you’d think this crashed from $1,420 to now $194, an 87% drop. Yet it was just a penny – or, fine, a pound.

Suggesting what? Well, it perhaps suggests everyone has sold and is kind of in glee expecting it to go down. It moves a penny, and their decisions confirmed.

Bringing us to something we did not quite want to open with, but this is table chat, where we talk what we like, under the cover of the paywall.

Some traders open a long or short today, and they close it tomorrow. Soon they’ll have nothing to open but McDonalds.

Others do it a bit more long term. Imagine, for example, if you had opened a long in 2014 and finally closed it in November 2017.

Math wiz stuff, but if bitcoin is going to halve in 2020, and if ethereum’s inflation is slashed by more than 2/3rd perhaps now next year, how do you price that in? Or better asked, how do you price yourself in while not quite alerting the market?

They’re not shy. We’re done waiting. Much reputation now on the line. But maybe it is time.

Bitcoin and ethereum are very much the people’s bailout. Wealth for many. Among them someone perhaps has a grand vision.

Blockchain city or bust. If not they, the dream has now taken a life of its own. So too our mind here at table chat. Poetry time, our very own:

Rise o rise you sleeping thunder, courage take to jump asunder, for kings beg, so the priests, of your wonder.

To bring back that new age, where progress rules again, send the swamp to its place, like no president can.

Rise o rise you men of might, in your hands the world around, by the grace of mighty god, by the love of genes about.

For the past is past becoming, and the future futaraming, for your pleasure pleasure lot, take the courage, dive the world.

Jamie Dimon’s JP Morgan says: “We are big believers in Ethereum.” That’s Dimon’s subordinate, Umar Farooq, JP Morgan’s head of blockchain initiatives.

“We are the only financial player that owns the entire stack, from the application to the protocol,” he said in an announcement regarding the ethereum based private chain, Quorum.

They apparently plan to tokenize gold as well as perhaps other assets, but ethereum’s public blockchain was seemingly not good enough.

“We are not at a point where we believe public networks are right for financial institutions or businesses in general. But you never know what is going to happen in five years,” he said, further adding:

“We are all building private networks but there is a long-term thought process of what happens when you get to a point where you need to do private-public convergence – a connection –and at that point, if you are in some ways a derivative of a public platform, it could become easier.”

Five years. If we could reasonably guess what will happen next year, we’d be happy. Five years in this space…

We’ve been a bit sloppy in suspecting something and not screenshooting it. A very old Bitstamp tweet that mentioned Trustnodes was re-tweet by the above account.

We received a notification naturally. That said Bitstamp Official Promotion, or something to that effect, had retweet an old tweet by Bitstamp which mentioned Trustnodes.

That account has 7.4 million followers, while Bitstamp has only circa 300,000. When we checked, we couldn’t find the retweet on Bitstamp’s Promotions timeline, presumably because they quickly deleted it. Now it looks like its gone back to its “original” name.

Eva Longoria seems to be some actress. She appears to have sold her twitter account to Bitstamp. When exactly is not clear, but long before they were bought out as announced today with a press release stating the buyer is “NXMH, a Belgium-based holding company. Owned by NXC, which also owns South Korean cryptocurrency exchange Korbit.”

You can see on the now archived page this account only tweets about Bitstamp. Quite a scandal really, very much worthy of its own news article, but for now suffices to say these old social media networks are very much ripe for disruption.

On that note, we wanted to get to a lot of press releases, but it looks like that will have to be reserved for maybe tomorrow.

This segment takes quite a lot of time and effort, with “rewards” sort of “condensed” as it is all in one article. So it isn’t very clear whether it is worth it even behind the paywall. But it’s a lot of fun writing it, and the format is a lot more edgy. Kind of really the actual journalistic part to journalism.

So we’re reviving it, but the table chat is unlikely to be published in a predictable manner. Although who knows, we’ll see. Enjoy the opening of devcon.

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