10/19: Jeff Berwick outlines in the Dollar Vigilante the New Crypto Order including: XBT, ETH, EOS and the US$ debt transfer.
I’ve said it before and I have to say it again. I am shocked at how fast everything is moving. When we started The Dollar Vigilante in 2010 we only wrote one issue per month and each month I’d have to think quite hard about the important issues to cover. There just wasn’t that much happening on a month to month basis. Now, I have to literally filter through dozens of important things that have just occurred and try to select a few of them to focus on or this newsletter would be 100+ pages long. The crypto space has become an entire topic on its own with so much happening that we are looking to bring on even more people onto the TDV team with a focus on cryptos, ICOs and trading. This will likely result in an add-on newsletter to TDV because just covering this space alone is worth 50 pages per month in research and analysis (I’ll briefly mention a number of interesting developments further below though). Stay tuned for more on that. In the bitcoin space alone, ignoring all the other cryptos & ICOs, so much has occurred in just the last month. The criminal Chinese government shut down three of the world’s largest exchanges and banned ICOs. JPMorgan has been attacking bitcoin as a fraud - which is laughable coming from that bunch. And the New York Agreement signatories proceeded further with the scheduled SegWit2x hard fork (which Juan Galt will cover in depth in this issue). You’d think with all that happening and the uncertainty surrounding yet another bitcoin fork it would have seriously hurt the price of bitcoin. Nope, bitcoin nearly doubled in the last month. Bitcoin just don’t care. BITCOIN HITS ALL-TIME HIGHS NEAR $6,000 As I write, bitcoin is trading at $5600 after hitting a new all-time high of $5,844.18 on Sunday. For the last three months I mentioned numerous times that I liked the short term prospects of bitcoin over the entire cryptocurrency space as a whole. And that has turned out to be correct as bitcoin has risen from a low of 37.82% dominance in the sector in June to 54.45% now. The total market capitalization of all cryptocurrencies excluding bitcoin has fallen from $97 billion at the beginning of September to $79 billion today. Meanwhile, bitcoin itself currently sits near $94 billion in market cap. It was only one year ago today that bitcoin had a market cap of just o