Welcome to the 9th crypto roundup, brought to you by HEAT Crypto.
First things first, this roundup has been halved in frequency. Therefore, instead of publishing this every week, we'll now publish this once every two weeks (now go debate whether it should be called biweekly or semi-monthly, as in once every two, or twice every one).
So let's get down to crypto business.
Maidsafe continues to impress ... but in testing only
It is a fair criticism for Maidsafe that there isn't yet a production system, although the project launched even before Bitcoin was born (in 2007). They have raised fair amount of money in their own ICO, and should have something in production by now. Unfortunately they don't.
However, don't let the lack of a production-ready system fool you into thinking Maidsafe is stagnating. It continues to make progress through its test launch, and anyone can be a part of it.
This week was the 9th SAFE network test that included a surprise feature - SAFE mail testing. Really, we applaud projects that aren't immediate pumps and dumps and there is real work going on. Maidsafe/SAFE network is a super-ambitious project, and we respect the founders and the team for that.
Everybody needs developers
Seriously, it sometimes feels like the lack of developers is holding back the state of modern technology. The whole spectrum of future technologies, from blockchains to AR/VR to self-driving cars, all seem to be throttled by lack of quality developers.
Blockchain/Bitcoin companies have long complained about the lack of good programmers in this space, considering how few really understand the mechanics of blockchains and their inter-disciplinary nature. Heck, even consulting companies are complaining about a lack of talent.
So if you're a developer, or want to be one, where do you start? Well, there are these popular online courses that you could take, which should help you learn the subject that you're interested in.
So here's a Bloomberg piece on the topic, which lists some courses that you could take:
But hey, if blockchain isn't your thing, how about self-driving cars? Sebastian Thurn, founder of Udacity, estimates the demand for engineering talent for autonomous vehicles is about $10m per head. Seriously, that's $10 million. Million, with 6 zeroes.
In such an environment, is it any wonder that cryptocurrencies, including the newly rich with ICO money cryptocurrencies find it hard to recruit good people?
The ICO World
We're still in the ICO glut stage of cryptos. Lots of ongoing ICOs and hard to pick the right projects. Two big milestones, however, were observed over the last couple of weeks with new ICOs:
ICONOMI raised over $5 million so far, with 11 days left for its ICO to end. The bonus period has ended, however.
DECENT opened its first day ICO with over 4000 BTC raised so far.
For a quick recap, ICONOMI is a fund management platform that will allow investors to invest in an index-like fund and a hedge fund like fund but all in the crypto world. They take custody of customer funds, and there is no talk or regulation at all, which is scary.
DECENT is a publishing platform where people can post original content and ask others for money for access to that content. It is an evolving idea though. After Steemit's success and controversy of insiders cashing out, people are looking for good publishing platforms in this space.
Markets, Efficient Markets, and Trading
Are markets efficient? That discussion will fill a book, so let's rephrase: all crypto markets efficient? They don't seem to be. There are large whales that can move markets. There is insider trading. There are secrets that are selectively revealed to a few. We'll never fully know how much of these things go on, but they do go on for sure, especially with these low volumes (relatively speaking).
And of course there is the news cycle that pumps up coins, only to see them come back to earth soon. Take Ripple for example. It raised $55 million in series B, a great effort. As a result, the Ripple coin pumped up in price and volume. But should it? Ripple the company is moving away from blockchains, and providing ways to connect existing payment gateways (like ACH, CHAPS, SEPA, etc.) and will not be using the Ripple tokens.
But it doesn't seem to matter. Markets see a new story and $55 million, and the immediate effect is a pump.
In fact, Ripple became the highest trading crypto on Poloniex on this news, with volume exceeding 10,000 BTC!
That's the phase new crytpos are forced to go through. And it is scary that your project can be manipulated heavily by the whales in the system. But at least the latest pivot seems to be from 'cryptocurrency' to 'digital assets' so there's there.
That's all for today folks. See you again in 2 weeks.