Coin Skim - Issue #5

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Welcome to Issue #5! Share our cryptocurrency newsletter with friends and colleagues. Don’t leave the
 

Coin Skim

November 11 · Issue #5 · View online
The Daily Coin Skim

Welcome to Issue #5! 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!

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One of the more anticipated events of this year which have already brought mainstream attention to the cryptocurrency world will not happen. In a surprising announcement by the Bitcoin (BTC) team, the highly awaited Segwit2x will not happen. Markets were already pre-positioned on the expectation of an even more significant increase in the price of Bitcoin, while alternative coins were anticipated to take a hit once again. Official release from the team.
Twisted Metal
Metal Payments - YouTube
Metal (MTL) is another hot new cryptocurrency that aims to be the go to digital wallet (Similar to CoinBase) but you gain rewards for every transaction. You can also send money to family and friends similar to Venmo. 
We’ve talked before about dubious Initial Coin Offerings (ICO’s) and how you should proceed with extreme caution when choosing to invest in these high risk cryptocurrencies. Metal (MTL) was one of those potential projects with great potential and significant hype pre-ICO. A decent team, product and marketing to support the overall brand. With the cloud of regulations facing new ICO’s, Metal’s team decided to avoid that route and conduct a private investment round between friends and family. This caused that a very small amount of investors purchased a large amount of coins at significantly discounted price before it reached the exchanges. 
Once it hit the exchanges, one of the team’s members/investors cashed out a significant profit and left the project. This was one of the reasons why many are deeply skeptical about the future of this coin and whether it should be trusted once again. Only time will tell. 
Ethereum Fails to Recover, Creator Talks About Future
Source: GIPHY
While bitcoin is breaking records, CryptoCoinsNews reports that ethereum has fallen to a 7-month low against bitcoin’s value as it fails to move past $300. Not all hope is lost, however, as ethereum flagship conference, Devcon, took place earlier this week. There, Coindesk reports that Vitalik Buterin, ethereum creator, announced the roadmap for the next few years. Buterin discussed solutions to exponential storage costs, planned upgrades to the ethereum virtual machine, and the idea of running ethereum in a web browser. He stressed that scalability was the main problem and believes that “sharding” is the likely solution. Sharding would split ethereum into different shards, and this partitioning would allow for more experimental changes on smaller shards and more cautious ones to the main blockchain.
At DevCon, CoinDesk also reported on swarm, the decentralized storage branch of ethereum. Victor Tron, swarm lead developer, revealed that swarm was now compatible with the ethereum client, Geth, and the project’s messaging protocol, Whisper. This completes ethereum vision of a “holy trinity” to provide an alternative to the internet. Tron believes that swarm, while still proof-of-concept, could “pave the way for many beautiful things such as distributed public archives that cannot be shut down or censored.”
Quickies
  • Bitconnect a ponzi scheme or a legit cryptocurrency? Exercise Caution.
  • US Treasure Department investigates illegal use of bitcoin.
  • Bitcoin Classic shuts down as attention turns to Bitcoin Cash.
  • Blockchain ID schemes could kill the data breaches but how soon?
Condensed Research Reports
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Disclosure
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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