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So 4 stories today, which we’ll get into right after I tell you that today’s episode is sponsored by Roboform:
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Take a free trial by using my link in the video description and if you buy a paid subscription I’ll make a little bit of commission which will help support the show.
Bitcoin ascending triangle and 11306
Monero rising on MoneroV hard fork
NEO falling a bit, potentially due to the recent consensus failure, where an error in one node halted the network, that’s bad btw
Leder support merged by Richardo Spagni
Coinbase class action lawsuit
[red] I actually covered this live if you remember. BCH Hit $9500 and trades went through at that price before the market was frozen. [orange] This was because we saw a rally in the BCH price leading up to BCH being launched on Coinbase and GDAX. [yellow] This was the real rub at the time, the lack of communication and forewarning. People said at the time this would lead to lawsuits, now it has.
Coinbase maintained at the time that they have internal guideline that prohibit employees from trading Bitcoin cash for weeks leading up to the launch but that did little to satisfy people.
So it’s Jeffrey Berk v Coinbase in California,
[green ]demanding a jury trial where both parties have a chance to present evidence.
What do you think to this story?
It’s something you might expect from an incompetent startup but not a leading crypto brand with tons of investment behind it.
How can Coinbase, one of the leading companies in the space with the most resources ending up pulling a blunder like this?
Let me know what you think.
$1T fund looks to include cryptos
So you are in charge of a $1T investment fund and you want to stay ahead of the competition by providing your clients with assets that give the best returns.
That’s the situation Wellington Management find themselves in and they have got wind of this thing called cryptocurrency, don’t you know.
They say there were established in 1928 and operate in 60 countries.
Their facts and figures page states that they have over 600 investment professionals.
Also in a February report, the company said their systems were upgraded to enable trading of Bitcoin derivatives. That’s derivatives like futures, not actual Bitcoin.
And they have also started investing in cryptocurrency companies.
Now you tell me.
If cryptocurrencies were a fad, do you honestly believe that such an established investment company would risk their clients money on it?
On the flip side, these guys are not stupid. They are trading futures so they can get exposure to the returns but without having to handle the tech.
And they are investing in companies so they can own a piece of the tech companies as well. They make reference to making investments in companies who are manufacturing Bitcoin mining chips.
Like I always say, when there is a Gold rush, the best person to be is the one selling the shovels.