Coin Skim - Issue #4

Welcome to Issue #4! Share our cryptocurrency newsletter with friends and colleagues. Don’t leave the

Coin Skim

October 6 · Issue #4 · View online
The Daily Coin Skim

Welcome to Issue #4! Share our cryptocurrency newsletter with friends and colleagues. Don’t leave them behind. Too busy to read multiple articles and research regarding the state of Cryptocurrency? We got you covered. Get up to speed in 5 minutes or so!
Apologize for the delay to this edition, my family has been directly impacted by Hurricane Maria and I have been coordinated relief efforts towards the island. 

What a Horrible September
Source: Coinmarketcap
China has taken a very strict stance on cryptocurrencies and plans to move forward with banning exchanges. This stemmed from an earlier countrywide ban to Initial Coin Offerings (ICO’s). There is a significant concern on behalf of the Chinese Government regarding their control over their money supply (“yuan”). In consequence, a huge firesale has been felt across all cryptocurrencies as demonstrated in the graph below due to this news. Just to give you an idea, Chinese super coin “NEO” had reached an all-time high price of $48.01 back in August has corrected down to $19 as of this issue. Many portfolios have suffered significant losses this month but have slowly begun a transition out of the red and hopefully, October brings us greener pastures. 
In-Browser Mining?
Source: Pixabay
Traditionally, crypto mining server farms and dedicated computers have been the main players in this space while receiving sizeable rewards. However, big players have crowded this opportunity and therefore making it barely profitable for individual miners who have started recently. Digital Marketers are raving about a new type of web traffic avenue and it’s based on in-browser mining. This works by running a script on the visitor’s browser to mine cryptocurrencies leveraging their idle CPU assets. 
Buyer Beware: Monaco plummets after reality hits
Many traditional financial investors would “buy the rumor and sell the news” when it comes to prospective moves X or Y company is planning to make and ultimately executes such move. Cryptocurrency markets are no exception to this type of market reaction. Due to this industry being in its absolute infancy, these type of rumors is transformed into a whole different level of speculation. In the case of Monaco (Debit Card Backed by Crypto), it can’t get any more official than straight from the company themselves. The company tweeted on May 17 that it would offer a Visa-branded payment card. The price of Monaco around July was just a tad under $1.00 USD. Monaco went even further to detail benefits of the card not too long after the initial announcement. How much did the coin increase in value since the first tweet? 695%. The market got wind of this seemingly great news and suddenly became a crypto dandy in the month of August by reaching an all-time high of $24.78 on August 28th. To no surprise, the coin began to plummet after a press release on August 31st by not mentioning anything about the “so-promised” Visa-branded card. At the time of this newsletter, it is currently sitting at $7.35. The moral of this story is to be very cautious about big announcements that are only confirmed by one side of the deal. Normally, it’s the unconfirmed rumors by either side that turn out to be duds. That’s why it’s even more dangerous when the company behind the coin issues press releases with misleading information. Please proceed with extreme caution when investing based on a news story. 
-Initial Coin Offerings (ICO’s) can be scams, says Wikipedia Founder. 
-SEC releases final judgement on Mining fraud Joshua Garza. 
-There is a coin that will allow you to buy WIFI access near you. 
-China will likely resume cryptocurrency trading by licensing exchanges.
Ripple-ing a new one
Source: Ripple
Did you know that this cryptocurrency is backed by Google? I did not until I did some further researching prior to investing into the coin. In a nutshell, Ripple is a B2B cryptocurrency that allows financial institutions to exchange money quicker and cheaper. The main functions are the following:
  • Real-time gross settlement system
  • Currency exchange and remittance network 
  • Liquidity in cross-border transactions with near instant transaction time
However, it is not considered a decentralized digital currency and has caused many doubt’s over its long-term feasibility. Especially when attempting to picture a future where all assets are exchanged through decentralized means. We would all be smoking a pipe dream if we thought Central Banks will be going away and mass adoption by them will signal the path of Ripple. Currently, Ripple has the 3rd highest market capitalization just behind Bitcoin and Ethereum.  
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Coin Skim does not provide nor intends personal investment advice regarding cryptocurrencies. Please conduct your own personal research and reach your own conclusions regarding cryptocurrency trading and investing. This newsletter does not provide individual or customized legal, tax, accounting, or investment services.
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I will probably do twice a week, once in the middle of the week and another on the weekend. 
It’s definitely a trying time right now and any support towards the newsletter would go a long way.
BTC Address: 17dhoVqBWvg7YjRUSBsnbFxSN5hhmXUPuU
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From St. Louis, MO with love