2019 Week 49
The ProfitStance TL;DR is a summary of the most important developments in crypto news, along with our thoughts on how they impact the crypto space and the economy at large.
Georgia and the IMF
The IMF has asked the country of Georgia to start reporting the exportation of the bitcoin it mines on their national GDP. Not only is this another indicator of how much crypto is used worldwide, but also presages the coming mass adoption. For mass adoption to take place, we need better infrastructure, and here is an international organization adapting to incorporate Bitcoin, further entrenching cryptocurrency in the overarching infrastructure of the global economy.
This is also just another example of countries across the world creating or getting into crypto. I’ve seen at least a new country each week over the past few months with some sort of crypto news, and I don’t expect that to slow. Whether or not it’s Bitcoin, cryptocurrencies are here to stay, and the people in power know it. View article
Ethereum Istanbul
Ethereum’s latest hard fork has gone live. This hard fork came without fanfare, partially because it happened while we were all asleep, but mostly because it didn’t do much. Basically, the changes made by this hard fork is the first of three steps to setting the foundation for the future upgrade to Ethereum 2.0. The Muir Glacier fork is scheduled for January 3, with the final for, Berlin, slated for the second quarter of 2020. However, as noted in the article, Ethereum’s development schedule is slow on purpose. The path from ETH1.0 to ETH2.0 is the bridge from proof of work to proof of stake, which is a monumental chasm to cross, and has been fraught with delay after delay. All in all, the Istanbul hard fork is probably a step in the right direction. Whether or not they hit the January 3 deadline for the Muir Glacier fork will be an indication of whether or not to expect even more time to pass before ETH 2.0 actually goes online. View article
Tl;DR stands for Too Long; Didn’t Read. Basically, it’s a summary of an article that you want to read, but for either lack of time, or desire, don’t want to read all the way through the article to get the salient points. In crypto space, there are many articles published every day about many different topics. As I research, I pick the top 5 – 10 articles that represent the most important news and developments over the past week and pass those on to you. I’ll give you the TL;DR and my take.