Episode 016: Saturday 10th February 2018
Description
Coming up in today’s show:
- We might get mixed up with whether it’s a Ledger Nano S or a Nano Ledger S … but one thing we are sure about is that your Bitcoin isn’t even safe on one of these devices!
- The first crypto rich list has just been announced … we’ll be revealing where we are in the rankings
- Why you must have no imagination if you can’t picture Bitcoin shooting to the moon.
The Top 5 Crypto News Stories from this week's show:
5 > Lloyds Banking Group bans credit card purchases of Bitcoin
Lloyds Banking Group and Virgin Money have banned customers from using credit cards to buy Bitcoin and other cryptocurrencies.
The move comes amid fears that investors speculating on the volatile market could face huge losses.
https://news.sky.com/story/lloyds-banking-group-bans-credit-card-purchases-of-bitcoin-11237438
4 > Millennials Much More Interested in Cryptocurrencies, Could Care Less About Stocks
While many older individuals see the volatile cryptocurrency market as proving too wild for their taste, millennials prefer to put their money in Bitcoin and alternative cryptocurrencies (altcoins) – as opposed to established stocks and bonds.
Many millennials have become disillusioned with the traditional stock market after the 2008 financial crisis – which happened while many millennials had only recently finished high school.
According to MarketWatch, over 82% of millennials claim their investment decisions are influenced by the economic crisis, which saw important players of major banks receive generous bonuses after nearly bankrupting the economy by losing $14 trillion in wealth. Many people lost their jobs, while also losing large portions of their personal wealth.
Because of this formative financial influence, millennials simply don’t trust the stock market.
3 > Newly Discovered Vulnerability In All Ledger Hardware Wallets Puts User Funds At Risk
Hardware wallet manufacturer Ledger, which sold over one million devices last year, has alerted its users to a major attack vector that’s recently been discovered. Although there are no reported cases of the attack being successfully deployed, the threat itself is very real. Ledger has urged users of its cryptocurrency wallets to take steps to avoid falling prey to the address spoofing attack.
2 > Forbes Publishes ‘First-Ever’ Richest People In Cryptocurrency List
Forbes, known for its “World’s Billionaires List”, published a list of the richest people in cryptocurrency for the first time, Tuesday Feb. 6.
The goal of publishing such a list, according to Forbes Editor Randall Lane, is to
“[provide] a snapshot of a pivotal moment, part of the transparency needed to pull crypto away from its provenance as the favorite currency of drug dealers and into the adolescence of a legitimate asset class.”
While compiling a list of the world’s traditional billionaires is a relatively straightforward task, calculating the exact amount of wealth of the world’s richest crypto tycoons is more difficult.
Forbes acknowledges that they could have left some people off the list and that their estimates may be “wide of the mark.”
AI – mention security – most big players don’t make themselves known.
https://cointelegraph.com/news/forbes-publishes-first-ever-richest-people-in-cryptocurrency-list
Top Story 1 > Winklevoss: If you can’t see bitcoin at $320,000, you just lack imagination
“We believe bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity,” Cameron said. “Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. Its sort of equals a better gold across the board. We think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.”
This week's Crypto quickies:
1] Definition of a ‘no coiner’ and ‘candle watcher’:
A Nocoiner is a person who has no Bitcoin. Nocoiners (usually Socialists, Lawyers or MBA Economists ) are people who missed their opportunity to buy Bitcoin at a low price because they thought it was a scam, and who is now bitter at having missed out. The nocoiner takes out his or her bitterness on Bitcoin Hodlers, by constantly claiming that Bitcoin will crash, is a scam, is a bubble, or other types of easily refuted FUD. Nocoiners have little to no computer skills or imagination; even when they see the price of Bitcoin go up and its adoption spread they consider all Bitcoin users to be in a collective delusion, with only themselves as the ones who can see what is happening.
See: https://www.urbandictionary.com/define.php?term=nocoiner
When first looking at a candlestick chart, the student of the more common bar charts may be confused; however, just like a bar chart, the daily candlestick line contains the market's open, high, low and close of a specific day. Now this is where the system takes on a whole new look: the candlestick has a wide part, which is called the “real body”. This real body represents the range between the open and close of that day's trading. When the real body is filled in or black, it means the close was lower than the open. If the real body is empty, it means the opposite: the close was higher than the open.
Read more: Candlestick Charting: What Is It?https://www.investopedia.com/articles/technical/02/121702.asp#ixzz56XOj7kjM
2] 4] Great podcast episode: http://unchainedpodcast.co/xapos-wences-casares-on-how-bitcoin-makes-a-fairer-world
[Note: We're happy to attribute sources where we can. If you haven't branded your graphic and you'd like us to add a link, please email us at questions@cryptonewspodcast.com]
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