Quarterly Roundup – Q3 2018

BITCOIN

bitcoin_logo_small-150x150

1 Bitcoin = $6,487

Market Cap = $112 billion

 

Bitcoin Dominance Index Back Above 50%

Now at 52%, up from an all-time low of 33% in January.

August was the first month this year that Bitcoin accounted for over half the value of crypto assets.

 

Bitcoin Settlement Volumes Surpass the OTC Gold Market

Bitcoin settlement data from CM: https://coinmetrics.io/data-downloads/

Conservatively, (adjusted estimates), Bitcoin has settled $848b this year, and is on track to settle $1.38T.

Bitcoin, it appears, has quietly surpassed the OTC gold market in settlement volumes. – nic carter

 

Bitcoin Could be ‘First Worldwide Currency’: NYSE Owner

NYSE Bitcoin ETF

Intercontinental Exchange (ICE) — owner of the New York Stock Exchange (NYSE) — is forming a new company, dubbed Bakkt, that seeks to bridge the divide between Wall Street, Main Street, and the flagship cryptocurrency.

”Bitcoin would greatly simplify the movement of global money,” said Sprecher. “It has the potential to become the first worldwide currency.”

The move will see ICE not only launch a physically-settled bitcoin futures product but also custody cryptoassets directly and help merchants accept digital assets such as bitcoin for everyday payments.

It represents a remarkable about-face for ICE, which said last December that it didn’t want to rush into launching bitcoin products. – Josiah Wilmoth

 

 

CRYPTO ASSETS

Market Cap = $216 billion

 

Binance Coin

Just one of the interesting things  told me this week at lcx event: 90% of binance employees choose to receive their salary in BNB tokens. Smart people. – Michael Arrington

 

A Lesson From the Dot-Com Era for all Crypto Believers…

“It turned out, the dumb thing wasn’t to invest in the scam, the dumb thing was to give up on the internet because there were some stupid people in it” – Ben Horowitz

 

‘This Is Not a Passing Fad’: CFA Institute to Include Crypto and Blockchain in Exams

The CFA program [Chartered Financial Analyst] is an extremely well respected global organization that ‘charters’ financial professionals via an arduous 3-year exam process and ongoing education. They’re adding crypto to the curriculum. – Ari Paul

Image result for wall street sign

“We saw the field advancing more quickly than other fields and we also saw it as more durable,” said Stephen Horan, managing director for general education and curriculum at CFA Institute in Charlottesville, Virginia. “This is not a passing fad.”

A record 227,031 people in 91 countries and territories registered to take CFA exams in June, seeking a better understanding of finance, improved job prospects or some combination of the two.

A majority of the candidates came from Asia, which also happens to be where much of the world’s virtual currency trading takes place.

– Michael Patterson and Andrea Tan

 

 

MARKETS

Apple Hits $1 Trillion Marketcap

Even though some think Apple (AAPL) needs a new product to keep sales and profits booming, Apple has rallied past the trillion level thanks to solid sales of the iPhone 8 and X — particularly in China and Japan — and surging services revenue from the App Store.

– Paul R. La Monica

—————

It’s not the $1 Trillion that amazes but getting to it at a P/E of less than 20. – Horace Dediu

 

 

KNOWLEDGE

Turing Complete

Explanatory universality. The most significant phenomenon in physics. – David Deutsch

—————————

An ape brain, evolved for raw survival on the African savanna, is capable, without further evolution, of

* Understanding the expanding universe

* Building quantum theory

* Computers

* CERN

* Coordinating the pianist’s fast fingers

* Being moved to tears by Bach & Shakespeare

– Richard Dawkins

 

 

THE ASCENT OF MAN

Japanese Billionaire Makes Down Payment to Become First Lunar Tourist

A Japanese billionaire plans to fly with a group of artists around the Moon in 2023 in a deal that will help bankroll the development of SpaceX’s BFR launch system.

Image result for dearmoon

In the proposed mission, a BFR will launch and fly around the moon before returning to Earth, a flight lasting four to five days.

Neither Yusaku Maezawa nor Musk would disclose the price of the flight, but Musk said that Maezawa — who had been one of the two customers for SpaceX’s earlier plans for a circumlunar flight on a Dragon announced nearly 18 months ago, but since shelved — had already made a down payment.

“It will have a material effect on paying for the cost of the development of BFR,” Musk said of the mission’s price. “It’s a non-trivial amount. It has a material impact on the BFR program. It makes a difference.”

Maezawa has an estimated net worth of $2.9 billion, according to Forbes. Musk said the estimated cost of the overall BFR development was about $5 billion. “I don’t think it’s more than 10 [billion dollars], and I don’t think it’s less than two” billion dollars, he said.

An initial series of “hopper” test flights of the BFR spaceship are still planned to take place next year at SpaceX’s South Texas launch site under development. That would be followed by high-altitude, high-velocity flights in 2020, along with tests of the booster stage. “If things go well, we could be doing the first orbital flights in about two to three years,” he said, with “many” such test flights planned with crews before humans fly on the vehicle. – Jeff Foust

 

Lithium Batteries

Tesla has catalysed the realization that lithium batteries let us make electric cars that are as good as internal combustion engine (ICE) cars, and that if we can get the battery volumes high enough, these cars can eventually be as cheap as ICE cars.

The chart below shows the result. Batteries need to get to perhaps 100 on this scale to be cost-competitive with gasoline – we’re almost there.

Screen Shot 2018-08-29 at 10.30.01 AM.png

– Ben Evans

 

Worms Frozen for 42,000 Years in Siberia Wriggle to Life

In Siberia, melting permafrost is releasing nematodes — microscopic worms that live in soil — that have been suspended in a deep freeze since the Pleistocene.

Scientists isolated the worms — all females — from the permafrost samples.

After defrosting the worms, the researchers saw them moving and eating, making this the first evidence of “natural cryopreservation” of multicellular animals, according to the study.

However, the nematodes weren’t the first organism to awaken from millennia in icy suspension. Previously, another group of scientists had identified a giant virus that was resuscitated after spending 30,000 years frozen in Siberian permafrost.

Further study will be needed to unravel the mechanisms in the ancient nematodes that enabled them to survive such lengthy freezing; pinpointing how those adaptations work could have implications in many scientific areas, “such as cryomedicine, cryobiology, and astrobiology,” the researchers concluded. – Mindy Weisberger

 

Follow me on Twitter @leebanfield1

Bitcoin: 33FrbMquWBXtq6HuA5Jd2fo2BJ9K2m2smn

 

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