Crypto.IQ Daily Digest June 22, 2018

EXCHANGES, THE MARKET • FROM COINTELEGRAPH.COM

Bithumb Hack Does Not Change Bitcoin Fundamentals, Says Litecoin Founder Charlie Lee

+IQ THOUGHTS

Always look at the fundamentals first. If those are sound, look for other ways to address a problem.

Litecoin founder Charlie Lee says the recent Bithumb hack drove down the Bitcoin price, but that action is based purely on emotion because Bitcoin’s fundamentals haven’t changed. It’s something we take to heart on a daily basis.

For Bitcoin, the fundamentals have remained sound since day one, steady and reliable, despite a sometimes rocky market. Recently Bitcoin evangelist Andreas Antonopoulos likened the ceaseless and rhythmic creation of blocks on the Bitcoin network to a heartbeat. And from Bitcoin’s history, it’s a healthy heartbeat.

As a side note, the reaction to the Bithumb hack shows a maturing of the cryptocurrency space, with a rapid response by the exchange and quick action by authorities trying to root out the culprits.

Our society hasn’t stopped using banks just because they have been the targets of thieves. So should we never walk away from crypto based on the way it also attracts them.

ADOPTION • FROM COINTELEGRAPH.COM

Federal Reserve Bank of St. Louis Adds Crypto Price Tracking to Research Database

+IQ THOUGHTS

On a one to ten scale for good news crypto adoption stories, this is up there.

When it comes to adoption or at least tolerance of Bitcoin and cryptocurrency in general by the U.S. government and its agents, no one comes close to what the Reserve Bank of St. Louis has done and said.

It has offered a favorable take on cryptocurrency for coming years, and its president said in May that he could see how Bitcoin could be a threat to the dollar.

All good news to us.

We’re not sure why the St. Louis Reserve Bank stands out this way, but it’s possible someone has to be point for the feds, maybe so they don’t look foolish when the dollar is relegated to the dustbin of history.