News: Rough Ride for Crypto / tZero issues security tokens / NASA using blockchain

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NASA announces that they are using blockchain to track air management. tZero issues security tokens to those willing to use a broker or go through double KYC processes. Articles: https://cointelegrap...

NASA announces that they are using blockchain to track air management. tZero issues security tokens to those willing to use a broker or go through double KYC processes. Articles: https://cointelegraph.com/news/vinny-lingham-forecasts-bitcoin-price-for-two-months-trading-between-3-000-and-5-000 https://cointelegraph.com/news/nasa-publishes-proposal-for-air-traffic-management-blockchain-based-on-hyperledger https://ethereumworldnews.com/blockfolio-downsizing-the-latest-victim-of-crypto-winter/ https://cointelegraph.com/news/mining-giant-bitmain-reportedly-suspends-mining-operations-in-texas 👍🏻Subscribe to Boxmining for Daily CryptoNews and Altcoin explainers: https://www.youtube.com/c/boxmining 👑Recommended Exchange - Binance: https://goo.gl/joe55C 🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b 📲Mobile Wallet: https://enjinwallet.io/ Brave Browser: https://brave.com/box831 #Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups: Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social: Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

AI Analysis

It’s been a rough ride in crypto recently, with significant market dips impacting the overall market cap. Amidst this downturn, some surprising news emerges, like NASA utilizing a private blockchain for air traffic management, while various crypto companies, including Blockfolio and mining giant Bitmain, are undergoing tough restructuring and layoffs to weather the "crypto winter." Meanwhile, tZero has successfully issued its security token, albeit with strict trading restrictions due to regulatory requirements.

Here's a breakdown of the key happenings:

* Market Turmoil: The crypto market has taken a significant hit, experiencing two major dips in a short period, bringing the total market cap down to $18 billion. Even seasoned experts are struggling to predict market movements; Civic CEO Vinnie Lingham’s refined prediction that Bitcoin would make a "huge movement" either up or down was essentially a "no shit, Sherlock" moment, especially since Bitcoin broke through its perceived $4,000 resistance point almost instantly. This really highlights that even long-time experts and traders have no clue what’s going to happen.
* NASA Embraces Blockchain: In a surprising move, NASA is deploying blockchain technology for air traffic management. They are using Hyperledger, an enterprise private version of blockchain developed by IBM, to track satellites. What's interesting is that NASA received a relatively modest grant of $330,000 for this development, which is a stark contrast to the millions raised by many ICOs. This suggests that useful blockchain products don't necessarily require massive funding, and agencies might prefer private blockchain solutions over public ones for tracking purposes. The deployment of this system will be mandatory by 2020.
* Crypto Winter Layoffs Continue: The "crypto winter" is forcing many companies to downsize and restructure to survive the bear market.
* Blockfolio is the latest victim, reducing its employee count. This follows similar actions by other major players like Shapeshift and ConsenSys, with some teams being completely wiped out. This logical step ensures companies have enough "runway" – financial resources – to survive the long haul and avoid being wiped out.
* Bitmain, a mining giant, continues to face severe challenges. They've already downsized departments in Israel and China, and now their Texas mining operations are reportedly suspended, leading to more layoffs. This is a direct consequence of lower Bitcoin prices, which reduce mining rewards, impacting profitability. The good news, however, is that Bitcoin’s mining difficulty adjusts itself; if miners leave, the difficulty drops, ensuring the remaining miners can keep the network alive without significant impact on the network itself.
* tZero Security Token Issuance: tZero, a security token platform that raised $140 million last year, has successfully issued its security token. This is a big step in the security token space. However, obtaining and trading these tokens comes with strict rules:
* You can receive them either through their designated broker, Dinosaur, or directly into your personal wallet, but the latter requires undergoing two rounds of KYC (Know Your Customer) verification.
* These strict KYC requirements mean you can’t trade the tokens on open crypto exchanges like Binance. They are designed to prevent trading with unverified parties or non-accredited investors, highlighting that security token offerings (STOs) operate under substantially different and much stricter regulations compared to traditional crypto assets.
* Upcoming Content and Industry Culture: On a personal note, there are exciting things coming up, including a video about the new Ledger Nano X and a broader recap of CES in Las Vegas, showing off the future of electronics. A trip to Taiwan is also happening to check out the HTC blockchain phone and explore the local crypto culture, particularly looking for signs of a potential "crypto fever" similar to what South Korea experienced last year. The hope is to see what infrastructure is in place and if Taiwan could be the next hub for crypto adoption.

Transcript

Hey everyone, it's Michael and welcome back to Vox Mining. So it's been a pretty rough ride the past few days and I want to do a very quick update on what's happening on the cryptocurrency news front. So we have some pretty good and bad news happening in crypto as always. We have some news about STOs and that seems to be pushing forward with T0. And we also have some pretty bad news concerning a few startups as well. So we're going to touch upon what's happening with various startups in terms o...

Hey everyone, it's Michael and welcome back to Vox Mining. So it's been a pretty rough ride the past few days and I want to do a very quick update on what's happening on the cryptocurrency news front. So we have some pretty good and bad news happening in crypto as always. We have some news about STOs and that seems to be pushing forward with T0. And we also have some pretty bad news concerning a few startups as well. So we're going to touch upon what's happening with various startups in terms of layoffs, in terms of restructuring. If I look like really shit today, that's because I've been traveling a lot recently. So I just finished up CES in Las Vegas. I checked up the Ledger booth and the new Ledger Nano X. And we're going to have an upcoming video about that. What is everything covering CES, all those like crazy electronics coming out. And on my trip back from Vegas, I'm stopping by in Taiwan. That's where I'm at right now. So HTC is building their phone here. Remember the HTC blockchain phone? I got the chance to check it out. So I'm going to check that out in two days. And we're also going to check out the MIFRO office. But anyways, let's get straight into the news. And of course, everything covered here is my personal opinion, not financial advice. All right, all right. Let's start off with the markets first of all. And you guys probably know we've been having a pretty rough ride in the past few days. So we started around two days ago. We had one huge dip in crypto, followed by around 16 hours ago. We had another dip. And we're still trying to recover from that right now. In terms of the overall market cap, we have $18 billion right now. So it's been pretty brutal. And I saw some pretty cool stuff. Not pretty cool stuff. This interesting tweet by Cointelegram. Civic CEO Vinnie Linham has revised his short-term prediction of things BTC will break out either up or down. So in upcoming months. So I thought that was pretty interesting. That's like no shit, Sherlock. It can go either up or down. But I mean, he does refine it. He feels like that it's going to make a huge movement. So if you just look at the full article here, it's been trading between $3,000 and $4,000. He changed his prediction. And the fact is that he's been stating that there's been a $4,000-resistant point. But as you guys know, we broke through $4,000 in a matter of minutes. So it really goes to show that right now, even in terms of the people who've been here a long time, a lot of experts, a lot of trading guys, they have no clue what's going to happen with the market. And it makes sense from what we learned last year. Let's start off with some positive news first. So in terms of news, NASA is actually deploying blockchain. So this is actually quite interesting because we see more and more institutions moving in. And NASA is using this to track their air traffic management. And they're using a version of blockchain called Hyperledger. And Hyperledger is developed by IBM. And it's kind of meant to be this enterprise private version of blockchain. So the reported grant for using and developing blockchain in the system is $300,000. So NASA got this grant to develop this and track these satellites. And according to the Automatic Dependent Surveyor system, the deployment will be mandatory by 2020. So this just goes to show that blockchain can be used in a lot of instances for tracking. But it depends on how various companies want to deploy or agencies want to deploy it. It might not be a public one. They might opt to do a private version. And also, more importantly, on top of that, the grant size is not that massive. If you think about it, NASA only got $330,000. And in terms of a lot of the ICOs we've seen, we've seen in the millions range. So it really goes to show that we don't really need that much money to make a useful product in blockchain. Okay, flipping over to the negative news side, we have Blockfolio. They're downsizing some of the employees as well. So we've seen this continuing trend where companies like Shapeshift, they basically say, yeah, we have to downsize. We saw consensus. They're downsizing as well. We saw whole teams being wiped out on Bitmain. And, well, this is in line with what's happening in crypto. There is a major adjustment needed because right now we're in a bear market. And a lot of these companies and people are preparing for the worst. And this makes logical sense because if you want to survive in the long run, you have to make sure that you have sufficient runway to survive and weather out the storm. Otherwise, you're going to get wiped out by it. And on the topic of downsizing as well, we've seen Bitmain being hit hard yet again. So this is a continuous slew of bad news coming from Bitmain's front. Initially, they downsize the Department of Israel and internal reports are coming out from China with employees saying, yeah, they've been laid off from Bitmain in Chinese headquarters as well. And now we have the Texas operation. So initially, Bitmain was going to deploy mining rigs in Texas, in the U.S., to mine there, to mine globally. But it seems like that might be suspended right now and they're firing those employees as well. So what exactly is happening on the mining front, especially with regards to Bitcoin? Well, what's happening with Bitcoin is that Bitcoin prices, because they're lower, the amount of mining rewards is also lowered in proportion as well. That's because the amount mined per day is always the same regardless of the price of Bitcoin. So if Bitcoin goes down, then mining profits go down as well. Is that good news or bad news for us overall? I don't think it affects us as much as we think, because the mining difficulty for Bitcoin adjusts itself. So if there are miners leaving, then we'll have a drop in mining difficulty, and the remaining miners, they'll keep the network alive. The last bit of news that's pretty big is T0. So this is a security token platform, and they issued out their security token already. So last year, they raised, let me just check here, $140 million for the platform. And a lot of that is because they were very tightly related to overstock, and they had already reputation in space. They're basically a big stab at trying to make a security token platform, and they are issuing out their token. The interesting thing about this token issuance is that there's two ways to obtain it. One is through their broker called Dinosaur. The other is in their personal wallet, but you have to do two rounds of KYC, and essentially that means they can prevent you from trading your coins into other parties that don't have KYC or aren't accredited investors. This is why right now you can receive these tokens, but you can't trade them on an open market like Binance or any other crypto exchange. So the rules are substantially different for security token offerings. And that's it for the news for now. So I'm really excited to check out what's happening in Taiwan. There's also a few cafes I'll try to hit up that accept cryptocurrencies. I really want to see the culture here because I view this place as a potential to kind of hop on to the next wave of the cryptocurrency bandwagon. We saw South Korea driving and spearheading a lot of that movement last year when the whole country went under a whole crypto fever. And in many senses, in the rest of Asia, we haven't seen that yet. And that's why I'm interested in Taiwan to see if there is that potential for this whole fever to happen and to see what infrastructure is in place. Other than that, I'm pretty excited to release the CES video as well. CES was pretty much like seeing the future of electronics, but you can't buy any of it. You just have to wait for the remainder of the year before it gets released. So that was kind of a really good sneak preview. And what I think I'm going to do with that video is I'm going to set it as a premiere. So we can all watch it together. We can all discuss what we like, what we don't like about this technology. And of course, it features Ledger Nano X as well. And we talk a lot about the security questions that you guys all ask. Make sure you click the subscribe button. And of course, hit up that like button on this video to support this channel as well. Thank you guys so much for watching. My voice is cracking. It's been a hell of a long day. See you guys later.