A Tronve of Abundant Tokens

in #crypto5 years ago

Market Report: 12th Feb. 2019 — Subscribe to our newsletter.

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CRYPTO NOTE

The daily view from our desk

I hope you don’t read the DMR for uplifting news, because to coincide with the bear market, the insect population is falling to apocalyptic levels. On top of that (real), polar bears, are retreating south into people’s homes in search of food. And there’s also tinder for cows… unrelated but alarming nonetheless. Fear not, when bitcoin goes to a million we will all be circumnavigating the flooded world in one of these.

A TRONVE OF ABUNDANT TOKENS

PLAY YOUR SHORT-TERM BETS WITH CARE

Yesterday’s BTT airdrop was likely priced in as the increase in supply didn’t materialise into more selling pressure. Quite the contrary, as the torrent-focused token is up 20% over the past day. Now that dumping fears are beyond us, hype continues to increase, especially given Justin Sun — who founded Tron, which in turn now owns BitTorrent — promised some secret Valentine marketing.

Before you fall for this hype, which is all very logical, as Crypto Coffee explains, do make sure you’re well aware of BTT’s inflation schedule. In brief, there are currently 89 billion BTTs in circulation — around 9% of the maximum supply of 990 billion tokens. Remember that narrative about how Bitcoin’s low maximum supply is built upon the fact we “value resources more when they’re scarce”?

BETTING ON BOTS

AUTOMATE YOUR RESEARCH OR EVEN YOUR TRADING WHEN THE MARKET IS BORING

Bear market capitulation went beyond traders and influencers. Even Twitter bots went offline. That’s good if we’re thinking of those sharing ether scams and shitcoin spam. But we were thinking of the like of @CoinWatcherBot, @Vickibot, or the @CoinistBot — who used to share market stats or the results of automatic trading strategies. So do send more cool bots our way if you know them.

Meanwhile, we’ve recently found @CoinTradingBot, which you might have noticed in recent reports and helps us share how boringly bitcoin and ether performed over the past few hours in comparison to the top movers and to the top 100 projects. And now we’ve found another worth sharing: @CryptoTrackerBt — which churns automatic posts based on crypto mentions in public documents!

WHAT YOU CAN’T MISS TODAY

DON’T LEAVE FOR THE WEEKEND WHAT YOU SHOULD READ TODAY

▪ Two days until excellent ETH Denver to start. Check the agenda and the great speakers, prepare the live streaming, and learn how to build those bears away.

▪ It’s only a matter of time before the Lightning Network is integrated with Square’s popular Cash app. Jack Dorsey explains in Stephan Livera’s latest podcast.

▪ Tough times for the South Korean youth who pumped ether back in 2017 and then lost it all. The New York Times tells their story and shows how they roll.

▪ Meltem Demirors and Jill Carlson started a weekly podcast commenting on the most relevant events of the cryptosphere. Check the latest episode here.

QUOTE OF THE DAY

REMEMBER TO TAKE THIS TIME TO LEARN

“You don’t need to know what is going to happen next in order to make money.”

  • By Mark Douglas

*Hat tip to Crypto Rand for the great trading lessons compilation

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