Story – CryptoKitties
While initially this kind of thing may cause you to roll your eyes, I think we should take this kind of thing VERY seriously.
If you want cryptocurrency adoption to grow, you should take it seriously.
And if you want to make some money, you should definitely take this seriously.
Remember that blockchain technology allows us to do digital assets that are unique and scarce.
That immediately opens up a HUGE market for digital collectables that can have real value.
So as far as I am aware CryptoKitties are Ethereum based assets that you can buy and sell with Ether.
What’s particular unique about these collectables is you can breed them to create brand new and totally unique kittens.
So what’s the first thing I did? Went and tried it, however I failed on 3 separate attempts to buy a Kitty because either it sold before I was able to complete the transaction, or the transactions kept failing for various reasons.
So clearly there are still bugs.
Why I personally like this and why I think it matters is that I was a mad collector of the Star Trek Customisable Card Game back in the day.
It was published by a company called Decipher and has long been discontinued.
But as soon as I got my head around CryptoKitties I could see the Star Trek CCG easily making a digital comeback.
If not that game, Magic The Gathering definitely needs to adopt this model. I personally would spend more time and more money on a blockchain based version of Magic The Gathering.
The only thing stopping that from happening is the company that owns the copyright.
Anyway, as far as CryptoKitties goes, this article on TechCrunch says over $1m worth of Ether has been traded so far, the biggest sale being the ‘Genesis’ kitten which sold for $113,000.
This article also does a good job of explaining how to play if you want to have a go.
And since CryptoKitties is already struggling to run properly on the Ethereum network, as I personally experienced, that’s the perfect segway into story number 2…
Story – EOS.IO Dawn 2.0 Released
Disclaimer, I hold 4% of my portfolio in EOS.
Right on the very day it was promised.
Of all the things included in this announcement, the main thing I imagine you care about most dear viewer is that the Genesis Import Testing.
This is the tool that allows a snapshot of all EOS tokens holders to be taken, which then allows the native EOS tokens to be issue on the live network.
It says here only about 20% of all EOS tokens have been properly registered with an EOS key.
Rather than Block.One telling everyone bad luck, they have implemented a fallback tool for unregistered tokens that will allow an Ethereum account to send a signed transaction later and get their native EOS tokens.
The fallback tools means 99% of all EOS token holders are covered, however it will require you to input your private key into the EOS wallet to create that signed transaction.
If you don’t want to have to do that then go and follow the official EOS instructions on how to register your EOS tokens with and EOS key pair.
You can read about this on the official EOS website.
Story – Why IOTA Moon?
For the last few days IOTA has been hitting and breaking all time highs.
If you bought IOTA 1 week ago you would have paid round $1, it’s not trading at $3.20, a pretty steep rise.
I’ve done a bit of investigation before recording today but I wasn’t able to find any specific event that triggered this.
It seems to be one of those situations where the pressure builds and then is released.
Remember that IOTA isn’t designed to be an all purpose cryptocurrency, even if it ends up being one.
It’s been specifically designed for machine to machine micropayments so that the Internet of Things can have it’s frictionless digital economy.
The technology is a departure from traditional blockchain technology and is still highly experimental.
In any case, one way to diversify in the world of cryptocurrencies would be to have some IOTA in case it’s Tangle technology turns out to be far superior to traditional blockchain technology.
Diversifying across different technology types is one type of diversification.
In terms of where the $1b of trading volume is coming from, it’s coming from the USD.
The Bitfinex market that trades IOTA against USD accounts for 58% of the trading volume in the last 24 hours, so like it says in this article…
This big price pump owes a lot to IOTA being listed on a popular exchange that has the volume.