As stocks dip, crypto market cap loses a cool $157 billion

Leo Zhang

By Leo Zhang

Unless you've been under a rock, you know the Dow dropped 2.5 percent today--the deepest fall in over a year, marking a 1,000 point drop in five days. Cryptocurrency market capitalization have plunged in tandem, losing $157 billion in the last week.

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News

Amid stock market selloff, U.S. profit forecasts rise
(Reuters, by Caroline Valetkevitch)

"This week, fears of higher rates overwhelmed the upbeat profit picture as the benchmark S&P 500 stock index SPX fell 3.9 percent and raised some concern about a deeper pullback."

Commentary

Coin Talk#6: How low can you go?/An interview with Jameson Lopp
(Coin Talk)

"It is amazing that it has progressed so far so quickly, but of course the result is a lot of people coming into the system because of nothing other than price charts."

Is the Fed's inflation target kaput?
(Bloomberg, by Rich Miller)

"A variety of proposals are already making the rounds. All aim in one way or another to generate higher inflation on average than the current regime. Since the 2 percent target was instituted in January 2012, inflation has come in below that level for 66 out of 72 months. To achieve higher inflation, the Fed might have to keep interest rates lower for longer and push unemployment down further."

Technical

A brief history of bitcoin mining hardware
(Medium, by Tristan Greene)

"Yet, if you were an independent miner in 2011 who enjoyed your GPU setup, the writing was on the wall. FPGAs soon gave way to application-specific integrated circuit (ASIC) systems, and Bitcoin went from hobby to industry."

Formal barriers to Proof-of-Stake protocol
(Stanford University, by Jonah Brown-Cohen, Arvind Narayanan, Christos-Alexandros Psomas, S. Matthew Weinberg)

"There are incentive-driven security issues for Proof-of-Stake protocols not present in Proof-of-Work."

Tools & Tutorials

Build a cryptocurrency price tracker in five minutes
(Hackernoon, by Joe Hanson)
A guide for building a simple dashboard to track the pricing updates in realtime.

Updates

Zcash dev team is finishing Overwinter code, network documentation, and Sampling specification; and is preparing for next stage of MPC ceremony. Twitter

Decred is now listed on Zhaobi Exchange. Twitter