We talk a bit about the current state of the market, which doesn't look good. The 200 days moving average is just crossing the 500 days MA, which usually points to the final phase of capitulation after a market bubble. This only happened once on the Bitcoin chart, during the long bear market of 2014, and the price dropped about 50% in just a few weeks.

Our main story this morning is about Bitcoin scalability and sidechains. The debates around scalability dies down after the Bitcoin Cash fork, but the problem remains. Bitcoin is a painfully slow and expensive cryptocurrency. Blockstream just announced that their sidechain solution, Liquid, is out of beta and ready for commercial use. The logic behind Liquid is not that different from Plasma on Ethereum, as we discuss in the show. It allows immediate Bitcoin transactions, because the transactions don’t need to be registered on the slow Bitcoin blockchain. It’s enough that they are submitted to the fast Liquid chain, which takes care of keeping the two chains in sync. On the other hand, Liquid is a permissioned blockchain, and on top of it, it requires proprietary hardware to operate. You and me won’t be able to use Liquid, ever.

Yesterday Yobit made crypto Twitter roar in disbelief after publicly announcing their pump and dump plans.This is illegal, you’ll probably get rekt, and you shouldn’t keep any money on Yobit.