“Crypto will help protect wealth in the next crash” ~ Ron Paul, former US Congressman and Presidential candidate

Over the last week the cryptocurrency market has slid back from $247 billion to $240 billion. Bitcoin has dropped below $9000 again. Currently it’s sitting at around $8790. Historically November has always been Bitcoin’s best performing month. Crypto community is waiting excitedly what will the next three weeks will bring. Most coins are seeing losses in the 2-5% range. Ether is holding its price around $186. Ethereum’s Istanbul network upgrade is scheduled on the 4th of December. Istanbul hard fork will change a few facets of Ethereum functionality, including the data storage process, mining algorithm. Many are expecting such upgrade will increase the computation cost thus the transaction fee will go up. Usually the price of a coin goes up in anticipation of the upcoming hard fork. Also the upgrade might increase the volatility in the prices of Ether as after the fork people tend to sell to take profits after price appreciation.

Stellar Lumens has soared up 25% last week. The Stellar Development Foundation (SDF) has burned a total of 55 billion Lumens (XLM) which is worth $4.4 billion. Coin burning is the process of permanently removing coins from circulation, reducing the total supply. Reducing the supply of a coin, makes the value of the remaining coins more scarce and therefore more valuable.

One after another, central banks are considering to issue their own national digital currency. The Central Bank of Tunisia has launched their digital currency, e-dinar. Turkey is also working on to issue a blockchain based national digital currency which will be tested and issued by the end of 2020. According to Reuters report The Finnish EU presidency has proposed a draft document which suggests issuing a digital euro and urges member states to develop a common approach to cryptocurrencies. The draft document has been reviewed and intended to be approved by EU finance ministers on the 5th of December and we will cover about the final version of EU document in our future newsletter.

What is Proof of Keys?

1. A way of linking your identity to your Bitcoin address
2. A way of proving that Bitcoins have been sent from your wallet
3. A way of protecting your Bitcoins by moving them off exchanges to your own wallet

Scroll down to see the answer at the end of the newsletter.

Tunisia has announced the launch of its blockchain-based national currency e-dinar. The central bank of Tunisia has partnered up with a Russian startup Universa and issued a digital form of its fiat currency on the Universa blockchain. Universa blockchain claims itself to be a global decentralized network that offers fast interbank payment system. Alexander Borodich, CEO of Universa said “Each e-dinar is protected by cryptography and has its own digital watermark and the production of such a banknote is 100 times cheaper than wasting ink, paper, electricity for the printing press.” E-dinar will be state-owned and backed by paper money. The country will not issue a new currency. Instead, part of its reserves will be simply moved to the blockchain. Universa claims Tunisia could soon be followed by other countries such as China, Canada, Philippines, Argentina and Brazil. Citizens are now free to transfer e-dinars and can exchange their physical money for e-dinars.

Nearly 60% of approximately 80000 voters prefer Bitcoin as an investment choice for 10 years, according to a survey conducted by former US Congressman and former presidential candidate Ron Paul on Twitter. Paul asked his 650 000 followers how they would accept a $10000 gift that they couldn't touch for the next 10 years. Over 77000 people have voted, with 59% in favor of Bitcoin. Gold is in second place with 33%, followed by a 10-year treasury bond at 7% and only 2% of voters would choose Federal Reserve notes. In a recent interview Paul stated that government has responsibility which they are failing to do and has been causing depression and recessions. He is predicting a major economic crash that is inevitable. Savings and investment funds are no longer an option with negative interest rates looming and people really need to be aware of what the government is doing in order to protect themselves. He said gold will be the choice for many, but crypto and Bitcoin is emerging as number two, especially for younger generations who already mistrust the government and banking system.

What is Proof of Keys?

The correct answer is “C”.

Thank you for reading :) 

Have a great day!

Cheers, 
MrCoin
💌 hello@mrcoin.eu
📞 +36 16 555 333