Who Can Verify It?

This might be considered old news to some but I didn't take it seriously myself until this article came out today on bitcoin.com.

Lately we've been talking a lot about bitcoin's rising transaction rate, which is now coming close to its all-time highest levels. 

So, it seems that many of these transactions are coming from an entirely new bitcoin use case, other than just for sending money. It also seems that this is rapidly becoming the focus of hot debate among crypto spheres.

Without going into too much technical detail, what's happening here is that some new projects are making use of Bitcoin's stability as a network to maintain the stability of other crypto projects.

The use of crypto's main Blockchain in this way has some upset that it could be "spamming the network" and by raising the amount of data stored it could increase the fees.

Proponents of the concept, on the other hand, feel that this is actually just another real use case of bitcoin and the ability to store data in this way is built into the code for a reason.

No matter what side you're on, at this point we can take comfort in the fact that transaction fees in bitcoin are at a two year low at the moment, despite the added traffic.

As well, real-world use of bitcoin continues to rise, whether or not you consider the above as such. For example, in Indonesia, crypto assets have just been legally recognized as a trading commodity.

Last week, we noticed a large spike in Indonesian volumes on P2P site Local Bitcoins. Well, that figure has continued on to double this week. 

With the size of the Indonesian remittance market topping $2.7 billion in Q3-2018, this is quickly becoming a crypto market to watch.

Traditional Markets

Markets continued to rise on the news that another US government shutdown has now been averted. This morning, Asian markets are celebrating the completion of the last round of trade talks and optimism for what's to come.

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Please note: All data, figures & graphs are valid as of February 18th. All trading carries risk. Only risk capital you can afford to lose.

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