How to use Personal brand for career development

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Next Crypto Bull Run Will Exceed Your Wildest Expectations

Chris has hand picked 5 top crypto news stories of the day, including stories on the size of the next bull run, a new crypto documentary, upgrades to the Monero network, a potential increase in centralisation of mining in China and the decentralised journalism platform Civil failing to reach its minimum fundraising target.

The chart of the day segment at the end will include another analysis of the stablecoin market.

So Fidelity Investments have $7.2 trillion dollars of assets under management for their 27 million clients.

Interestingly that averages out to $266,000 per person.

Now they are launching a entire company dedicated to cryptocurrency investments called Fidelity Digital Assets.

This means any average Joe can walk into a Fidelity branch and invest their money in the crypto space.

If we take this, in combination with Bakkt, and all the plumbing infrastructure that has been built this year, you may begin to glimpse the size of the next bull run.

I call it plumbing because the amount of money that was able to flow into crypto last year was based on:

(a) the capacity of the incoming pipes and

(b) the level of awareness among the masses.

Not only do we now have way more pipes, and not only do we have much easier ways for people to invest, but the number of people who know what crypto is has increased significantly.

Put all that together and you have a huge crowd of people who are going to FOMO in to crypto the minute the prices start to take off again.

It’s just a question of when.

Torsten was the producer of Bitcoin The End Of Money which is one of my all time favourite primers on Bitcoin and the crypto revolution.

Now he’s back with a movie about web 3.0, so if you want early access then watch the trailer and then pledge a few dollars to the Kickstarter campaign.

I have been keeping a close eye on the Monero sub reddit and if you’ve done something similar then you will no doubt be familiar with the long running plans and discussion around Monero adding Bulletproofs.

Basically this is a type of cryptography which the Monero developers are implementing with the intention of reducing the size of Monero transactions.

To achieve it’s high levels of transaction privacy Monero transactions contain a lot of data, which uses up more computing and storage resources, and hence puts a drag on scaling.

Fingers crossed Bulletproofs should reduce the size of Monero transactions by 80% while maintaining the high levels of privacy it’s designed for.

So this is a hard fork, but Monero does these kinds of upgrades a couple of times a year so they are well practiced at it.

Because they are not scared of hard forks it means they can make real steady progress in their development.

This is set to happen on Thursday the 18th of October by the way.

This is an update to 2 previous stories in combination.

Yesterday I spoke about the increase in the number of ICOs and the simultaneous decrease in the amount being invested.

Previously I spoke about a decentralised journalism platform called Civil because Forbes said they would start publishing on there.

Well apparently Civil did not reach it’s soft cap, meaning the $8m they raised is below the minimum they need to make the project viable.

They are not giving up though, they intend to redesign their token sale and relaunch it so let’s keep an eye out because I believe what they are aiming to build is a very important part of the new world we are building.

Bitcoin mining hardware purchased from Bitmain and imported from China used to be classified as ‘data processing machines’ and attracted no import tax.

Now they have been reclassified as ‘electrical machinery apparatus’ which ends up attracting a 27.6% import tax.

So if you are a US based mining farm, the cost of hardware just went up 27%.

Good news for Chinese miners when they competitors prices go up.

My question is, isn’t this just going to exacerbate the concentration of mining in China? Even more so than I spoke about a couple of videos ago?

Another question is whether a 27% price premium changes the economics significantly enough that you can afford to start manufacturing mining hardware in the US.

I’ve no idea, but it’s question that has to be asked since every adversity creates an opportunity somewhere.

A review of stablecoin prices getting out of whack.

This is showing signs of an Exodus from Tether to the new, more reputable stablecoins.

I suppose since Tether had the monopoly on the fiat stablecoin market they didn’t feel any great urgency to get their audit done.

I mean people were using it anyway right?

Now I think they’ve been caught sleeping. I’m kind of glad because once Tether becomes a minor player in the stablecoin space, market shocks from bad Tether news will be a thing of the past.

How do we resolve this? Arbitrage…

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