Bitcoin is up about $200 in a mini-jump due to potentially many reasons including perhaps some litecoin bubbling pressure or maybe its the Hong Kongers.

It is news of news clearing desk where we get rid of all these open tabs to make way for new ones, starting with potentially something very interesting:

We haven’t verified the above, but if true, this is suggesting tether is a leading indicator.

Now that would be something rare, with one potential reason for it being a leading indicator maybe the fact tether uses some of the USD to buy bitcoin and other cryptos.

As you have read, they just printed out $150 million on ethereum’s blockchain, but as stated we haven’t verified the above chart.

“British insurer Legal & General has teamed up with Amazon to establish what it said is the first blockchain system for corporate pension deals…

Rahul Pathak, general manager for Amazon Managed Blockchain at AWS, said the deal meant L&G could ‘focus on building new business … instead of dealing with the challenges of keeping a blockchain network up and running’.”

Right. Have a database and call it a blockchain, why bother with the real thing. You’ll get the marketing anyway, even on Reuters, so it’s not like the dinosaur was really going to actually innovate. On the same topic:

“Visa Inc has launched a new network to help financial institutions process cross-border payments globally on behalf of corporate clients faster and at a lower operational cost, it said on Tuesday.

The Visa B2B Connect network launch covers 30 trade corridors globally and is expected to expand to 90 markets by year-end, Visa said…

While the network is not a distributed ledger itself, some aspects of the nascent technology were used because it can help transfer more information on a payment than existing systems, Phalen said in an interview.

Visa was initially working with blockchain startup Chain to build the new platform, but ultimately opted to use aspects of of Hyperledger Fabric, the open source distributed ledger developed by a group led by the Linux Foundation.”

Yes, they’re not dinosaurs, you see. They can fit a blockchain in their mess. Reminds us of: this is the box, you fit in the box – says SEC. But we’re completely outside of the box! Yes but tell us what you need to fit in the box.

OK, one bit more fluff and we’ll reward the patient. Starting with Rick Santorum, a guy no one knows outside of US, but there’s blockchain to change a bit of that:

Now the billionaire’s media is saying this Cathio has something to do with the blockchain, some sort of stablecoin, but as they do a very fine job of informing the public, they of course provide no information whatever regarding the blockchain aspect.

Part of it may well be because they have no clue just what the blockchain is and of course reporters being busy, tempting it always is to go for the easy route of waffle.

The waffle here being, in an exaggerating satire as we must, basically: ree Santorum, haha blockchain, then something like this catholic organization, Cathio, wants to connect with young people and they think blockchain does that.

The latter bit is of course interesting because it suggests even the stuffy halls of monasteries now know of this uuuu, or reee if you are dinosaur FT.

That “knowledge” is in US mainly and even there, one does sense there is actually not much knowledge at all. Not least because in many aspects even “experts” in this space don’t quite know what spaghetti sticks yet.

Making it the land of dreams and hopes that everyone expects to be crushed by “human nature” sooner or later with a “battle” unfolding on that end regarding donuts.

Now this is clearing desk, so don’t expect much depth, but, Reddit appears to be thinking of effectively tokenizing karma through potentially an ERC20 token, the ethtrader’s meme donut.

A meme that arose by ethereans dreaming once upon a time that eth’s price would finally reach parity with the price of one doughnut when bitcoiners obviously were talking about gold parity in price back in 2016.

Anyway these donuts have a governance function of sorts in that the more you have, the more your vote weighs in polls. They also allow you to “buy” sort of “advertising” banner space on the top of r/ethtrader, a space that is not meant to be used for advertising, but you know, clever people with their subtleties.

We have no view, except to say Carl, the r/ethtrader top mod, appears to be a decent guy who seems very genuine and has shown so much by creating what is arguably the best subreddit in crypto.

We interviewed him last month and the part that’s not included is Carl being told god bless you after he suggested the Ethereum Foundation should be a DAO.

That’s of course not to suggest he’s an angel, but, he appears to be principled and appears to have the capability of somewhat impartial rational thinking. That all said, we don’t actually know him.

Right so getting rid of all these donut tabs then, there’s CME. There’s a premium! Why no one told us?

Bitcoin's price, June 2019
Bitcoin’s price, June 2019
Bitcoin's price on CME futures, June 2019
Bitcoin’s price on CME futures, June 2019

The above screenshots were taken at the same time and we can see bitcoin had a spot price of $8,130, while the futures price for this month is $50 higher at $8,180.

That’s not much but it was always – as far as we have seen anyway – at a discount with the premium for September being quite considerable at about $200.

That means “sophisticated” traders are bullish and they’re betting the current price is undervalued in a carousel turn from the past few months.

So to other things with a nice quote: ‘These early-stage projects are 85% about digitization and 15% about blockchain – we are starting to see clear benefits in cost savings through simplified and speedier processes, and lower document courier costs,’ said Cedric Rutishauser, senior venture development manager at the Panalpina Digital Hub.

‘But the real advantage of blockchain lies in the ‘single source of truth.’ Improved data sharing between trade partners creates more transparency, with clear ownership and responsibility for each documented step in the supply chain.’”

And one more? Ah, Telegram no care about SEC. They Russia based as far as we know, so they going ahead with a public ICO:

“Gram token will go on sale to regular crypto buyers for the first time next month through a listing on crypto exchange Liquid on July 10. The arrangement is a limited offering before a full public sale in October, but the U.S, Korea and Japan are among countries where it will not be sold.”

So it’s an IEO? Keep up SEC. Anyway we done, until next time, be careful with hot potatoes.

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