Evening Newsfeed: January 16, 2018

Alright, lets get into it.

1. Bitconnect.com will be shutting down.
   https://thenextweb.com/hardfork/2018/01/16/bitconnect-shut-down-closed/
   As a result of legal moves such as Cease and deist orders and continuous DDOS, BCC lending platform and exchange has been shutdown. Whether or not it was an intentional exit scam, Bitconnect coins had dropped from $300 USD to $30 USD. As for Bitconnect's future its pretty much over. However, the BitconnectX ico will be ongoing and issued a statement that they will purchase BCC for $150 USD worth of BitconnectX tokens.

2. "Crypto Market Suffers From Uncertainty in Asia, Losses Up to 40%"
   https://cointelegraph.com/news/crypto-market-suffers-from-uncertainty-in-asia-losses-up-to-40
   BTC/USD reached it's lowest point since last month. Indication of FUD growing in new and late bird investors. Markets have experienced a loss and correction as a result.

3. Federal Reserve states that Bitcoin will pose no threat
   https://www.ccn.com/bitcoin-poses-no-threat-dollar-fed-official-says/
   Kashkari doesn’t deny the potential global influence of bitcoin and altcoins but states “I don’t see bitcoin as a credible competitor to the dollar in the United States of America, and the reason is the barrier of entry to you creating your own coin and me creating my own virtual currency … is zero.”
   Okay Federal Reserve I'm sure you guys are doing a very good job. According to wiki: Mr. Kashkari is "an American banker and politician who is President of the Federal Reserve Bank of Minneapolis." The Chairmen of the FED is Janet Yellen who is also the Chairman of the FOMC or Federal Open Market Committee. Her term will end this year on February 3, 2018.

4. "Any rule on Bitcoin must be global, Germany's central bank says"
   https://www.reuters.com/article/us-bitcoin-regulations-germany/any-rule-on-bitcoin-must-be-global-germanys-central-bank-says-idUSKBN1F420E
   A growing trend where governments are worrisome about cryptomarkets getting out of their control. This implies no one entity like China or USA can do anything about it on their own, but require global coordination and effort between international governments and corporations. Note: announced last week by the Secretary of Treasury, cryptocurrency will likely be a big topic in the G20 Summit. In a market response, privacy coins might see a rebound this year.

5. North American Bitcoin Conference will take place on Miami Jan 18-19
   https://btcmiami.com/
   Despite the losses in the cryptomarket, it will be interesting what kind of things will be present in this conference. Many new challenges await this market such as potential government regulation, privacy and security, as well as upcoming and developing progress which may empower confidence to committed investors.

6. "BTCC CEO Bobby Lee Wants Bitcoin Community to Scale “Responsibly,” Urges “Patience”"
   https://www.ccn.com/bobby-lee-bitcoin-scaling-btcc/
   A response to the FUD growing in the current market. Patience and Hodl. For aggressive traders, this is like weeding out weak hands. Nonetheless, small fish must learn to swim amongst whales and sharks.

7. "Venezuelan President Calls on 11 Countries to Adopt State Cryptocurrency Petro"
   https://www.ccn.com/president-maduro-calls-on-alba-governments-to-join-venezula-in-adopting-the-petro/
   Personally, I really want to know how this story is going to unfold. The Petro is backed by crude oil, resources, and gold by Venezuela. Unfortunately, the Petro is completely centralized and I dont think the president knows what he's doing or getting himself into, nonetheless the entire country when they caused the hyperinflation anyways. Sigh.

An interesting day. An interesting week. Cannot wait to see what happens next. Thank you for you time and have a great day.

If you would like to donate to some random dude (me) who is currently and actively researching about cryptocurrenies and blockchain, any kind of contribution would be highly appreciated. God bless you.

ETH: 0x965e2F2DdFC7498f35E35836c47a179A68bF57B6
BTC: 1GEqoQbCLoa61ei8dJBDophP6417P71VpM
LTC: LLQucmoMwdo81Rzxb7DrFQy7SCvaZihDEg