Daily News Digest Featured News

Monday December 3 2018, Daily News Digest

Bitcoin
SOURCE: COINBASE, TRADINGVIEW.COM

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United States

International

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News Summary

United States

Reports Say Coinbase Now Allowing Free Withdrawals to PayPal (Live Bitcoin News), Rated: AAA

Coinbase, the largest U.S. cryptocurrency exchange, is reportedly allowing withdrawals to PayPal with no fees.

Coinbase To Share Third Party Bitcoin News And Crypto Articles On Their Mobile App (Bitcoin Exchange Guide), Rated: A

Coinbase has been a critical platform for early adoption of cryptocurrencies owing to the easy UI and dedicated sections to teach beginners. Adding to the range of learning and discovery tools, Coinbase is now going to aggregate news articles by third party sources on their mobile app.

Bitcoin Price Flirts with Breakout But May Not Yet Have Bottomed (CCN), Rated: AAA

The bitcoin price on Sunday surged as high as 7.28 percent against the US dollar ahead of the US session.

Breaking above the neckline level sets up a run towards 4500-fiat. The resistance level is psychological at best, and its invalidation could also confirm an extended upside action towards 5000-fiat.

Bitcoin
SOURCE: COINBASE, TRADINGVIEW.COM

Every Day Bitcoin Doesn’t Die, It’s Closer to Becoming Digital Gold: Ex-JPMorgan Exec. (CCN), Rated: A

In an op-ed on Yahoo! Finance, Alex Gurevich, a professor of Mathematics and an ex-JPMorgan executive, believes Bitcoin is edging closer to becoming digital gold “with every single day it doesn’t die.”

Intel granted Bitcoin mining system patent, just as people are abandoning Bitcoin mining (Crypto News Review), Rated: A

A patent application first submitted by Intel over two years ago was granted at the end of last week. But it may have arrived just a little too late.

Running that through some kind of English translation system, what Intel put forward is, at heart, an idea for a more energy efficient Bitcoin mining system, that also has the advantage of running faster than its current systems. Faster, and more efficient.

Barry Silbert: Bitcoin Cash Hard Fork Was An Industry “Disservice” (Ethereum World News), Rated: A

Discussing an industry hot topic, Silbert, who owns/manages stakes in this industry’s foremost startups, noted that the Bitcoin Cash debacle, which hasn’t even come to its final head just yet, is a distraction for investors.

Ripple CEO: Banks Will Hold Crypto Assets Like XRP on Behalf of Their Customers in 2019 (The Daily HODL), Rated: AAA

Ripple CEO Brad Garlinghouse says he expects banks to start holding crypto assets on behalf of their customers next year.

At the Singapore FinTech Festival 2018, Garlinghouse said regulatory clarity and the opportunity to make money will drive banks and financial institutions to store digital assets like XRP for their customers.

Ripple’s XRP is the most hated cryptocurrency for a reason (Captain Altcoin), Rated: A

The company still has 55 billion coins, translating to about 60% of the total XRP produced to date, deposited in escrow. Ripple was pre-mined and the creators have only released a portion of the coins to be publicly traded.

There is 38 billion XRP in the hands of investors and Ripple business partners throughout the world.

Bitcoin, And Cryptocurrency In General, Had A Terrible November (Gizmodo), Rated: AAA

Bitcoin, as well as smaller cryptocurrencies like XRP and ether, had a terrible November that saw $US70 ($96) billion in value wiped off the market, CNBC reported on Friday.

Bitcoin closed at $US3878 ($5304), well below $US6000 ($8206), which proponents had long insisted was its “floor” but in retrospect appears to have been a magic number. That’s 80 per cent lower than its December 2017 high of $US19,783 ($27,056).

Litecoin Prices Ready to Bounce Back After 11 Months of Bleeding (NewsBTC), Rated: AAA

After 11 months of lower lows, Litecoin, Monero, Stellar Lumens and Cardano prices are ripe for recovery mostly thanks to last week’s price stability and the general expectation in the market. Regardless, we shall maintain a bearish stance despite incoming streams of supportive fundamentals changing this position once there are gains above key resistance levels.

Source: NewsBTC

This release was well received and LTC/USD is actually trading above $30 and up 15 percent in the last week.

Litecoin
Source: NewsBTC

LTC/USD Holding Key Support Above $ 30 (Ethereum World News), Rated: A

Recently, there was a nice upward move above the $34.00 level in litecoin price against the US dollar. The LTC/USD pair surged above the $35.00 and $36.00 resistance levels, but it failed to hold gains.

Looking at the chart, LTC price traded as high as $36.97 and later declined sharply. It traded below the $34.00 level and the 100 hourly simple moving average. There was even a break below the $32.00 level before buyers appeared near the $31.50 level.

Litecoin
Source: Ethereum World News

STELLAR EMERGES AS YEAR’S BEST PERFORMING ALTCOIN WHEN INDEXED TO BITCOIN PRICE PERFORMANCE (ICO Examiner), Rated: A

Stellar’s XLM has emerged as the year’s best performing top ten altcoin under a relative indexing methodology which sees crypto price performances indexed to Bitcoin’s own price performance.

Why Context is Important When Talking about the ‘Crypto Bubble’ (CCN), Rated: A

The fact that the bitcoin price has been crashing for the past month has led some people to have some hilarious reactions.

However, I feel like it’s also my duty to step in and calm things down for a second. Honestly, this “crypto-bubble” you’re tired of hearing about hasn’t popped.

It hasn’t even begun to form.

Bakkt To Include Ethereum Contracts in Initial Launch Plans (Smartereum), Rated: A

In any possible outcome, Bakkt is always regarded as important when it does anything significant. Now it is beginning to look like the exchange is going to do something huge since Bakkt is going to add Ethereum contracts to its platform when the investment startup is finally launched.

Mining software isn’t just for cryptocurrency — it could also be used to steal corporate secrets (CNBC), Rated: A

Instead of creating alternative currencies, cryptomining software could be used for a more sinister attack that could steal corporate secrets, according to Troy Kent, a threat researcher at Awake Security. He presented his research at the InfoSecurity North America Conference in New York earlier this month.

WYOMING PASSES BLOCKCHAIN BANK BILL DESPITE INDUSTRY OPPOSITION (Bitcoinist), Rated: A

The state of Wyoming has a reputation for being welcoming towards blockchain technology. This reputation was strengthened by a legislative committee, which voted 13-1 approving a bill that allows banks to provide financial services with blockchain-based assets.

SEC’s Next Move: Social Media Influencers Who Promoted Crypto ICOs (CCN), Rated: A

Writers, YouTube celebrities, cryptocurrency review platforms, publications, and many more individuals and organizations could be targeted by the SEC if there’s sufficient evidence to prove that an individual or an organization received compensation from ICO organizers to promote a token sale, without disclosing the amount received from an ICO project to the target audience.

“Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion,” the SEC said last year, emphasizing that the failure to disclose compensation is considered a fraudulent activity.

GoChain (GO) Daily Volume at 2,174 as Price Hits

GoChain (GO) Daily Volume at $862,174 as Price Hits $0.036254 (Economics Gazette), Rate: B

.036254 (Economics Gazette), Rate: B

GoChain (GO) traded down -2.47% against US dollar in the last 24 hours time period closing 16:30 on December 2nd EST. GoChain currently has a cap of $23,678,924 and its twenty four hour trading volume is approximately $862,174. Over the seven day period, GoChain is 11.28% against the US dollar with a movement of 1.43% inside the past 60 minutes.

Ascension and Aetna join blockchain alliance (Modern Healthcare), Rated: B

Ascension and recently merged CVS Health-Aetna are getting into the blockchain game, joining five other healthcare giants in a pilot of the technology.

Along with the other members of the Synaptic Health Alliance group—Humana, Multiplan, UnitedHealth Group’s Optum, UnitedHealthcare and Quest Diagnostics—they will try to figure out how to use blockchain to improve data quality and lower administrative costs.

International

G20 Country Leaders Call for International Cryptocurrency Taxation (CoinTelegraph), Rated: AAA

The G20 countries have called for the taxation of cryptocurrency, as well as its regulation to combat money laundering, Japanese news outlet Jiji.com reports Dec. 2.

Cryptocurrency Market Update: 17% Recovery Since Last Sunday’s 2018 Low (NewsBTC), Rated: AAA

There has been a marginal recovery from yesterday’s market dump this Sunday and things did not fall off the cliff again as we have seen in recent weeks. Total market capitalization has recovered to climb back to around $135 billion at the time of writing.

Altcoins are mostly green this Sunday as Bitcoin SV seems to be making the most progress in the top ten at the moment adding over 9% on the day taking it back to $100. Cardano has also recovered well with a 7% gain and the rest are putting 3 – 5 percent back on today.

Crypto markets have made about 4.5% since the same time yesterday bringing total market cap to $135 billion. Trade volume has stabilized at around $15 billion and markets have made over 17% since their lows last weekend. Last Sunday was the lowest point of 2018 when total market cap dropped to $115 billion.

Cryptocurrency market cap
Source: NewsBTC

Huobi Launches Derivative Market, U.S. Partner Taunts Coinbase with Billboard (Live Bitcoin News), Rated: AAA

Huobi, one of the largest cryptocurrency exchanges in the world, announced the launch of the Huobi Derivative Market (Huobi DM) exchange.

The platform is currently not available to users from the United States of America, Singapore, Israel, Iraq, Hong Kong (China), Cuba, Iran, North Korea, Sudan, Malaysia, Syria, Samoa Eastern, Puerto Rico, Guam, Bangladesh, Ecuador, and Kyrgyzstan.

Around the same time, HBUS, the exclusive U.S. strategic partner of Huobi, became the first cryptocurrency exchange to launch a billboard campaign in the United States.

9 Ethereum price predictions for 2019 by crypto experts (Chepicap), Rated: AAA

Matthew De Silva: Close to zero

Matthew De Silva, a cryptocurrency journalist at Quartz, made his price prediction known in September after prices crashed to the $179 mark.

Joseph Raczynski: Ethereum will hit $1,200 by Q4 2019

Joseph Raczynski, the founder of JoeTechnologist.com and a key blockchain influencer with a Twitter following of 153K, expects the value of Ethereum to hit $1,200 by Q4 2019. He attributed his projection to the popularity of Ethereum’s proof of concept among institutional investors.

Tom Lee: $1900 by the end of 2019

‘There are no drivers to push ETH to 40% above its prior all-time high’, he added.

Nigel Green: $2500 with a further increase in 2019 and 2020

The CEO of the deVere Group, believes the price of Ethereum will increase significantly and could hit $2,500 with a further increase by 2019 and 2020.

Brian Schuster: $10,000 or even $100,000, if it replaces gold as a store of value.

The head of Founder Solutions at Ark Capital LLC presents an extreme bullish picture of Ethereum reaching $100,000 per coin.

Ian McLeod: Ethereum will be on an overall upward trajectory throughout 2019

‘I maintain that we can expect Ethereum to hit $500 by the end of 2018 and go on an overall upward trajectory throughout 2019.’

Bitcoin, XRP, Ethereum Have Staying Power — BTC To Do “Very Well” In 2019 (Ethereum World News), Rated: A

As reported by Ethereum World News, in the past three to four months alone, the world’s five foremost technology stocks have lost a collective $822 billion, evidently instilling boatloads of fear in the hearts of investors, both in the crypto and stock markets.

Speaking on-stage at the most recent installment of Blockshow, held in Singapore, Lee made similar claims, noting that Bitcoin is “bent, not broken,” before adding that there is still “enviable” profitability in the cryptosphere, estimating that BitMEX is poised to make $1.2 billion in fiscal 2018.

Paxos Standard: Why the Stablecoin You’ve Never Heard of Just Might Take Down Tether (CCN), Rated: A

That same day, fellow New York blockchain startup Paxos Trust Company announced that it had also received NYDFS approval to launch a stablecoin, called the Paxos Standard (PAX). Unsurprisingly, PAX received far less initial attention than Gemini Dollar(GUSD), given that the latter had the benefit of a Winklevoss media blitz while the former — though a significant player in the professional crypto trading market — was not well-known among retail investors.

Is Bitcoin a Bubble and When Will it Burst? (Finance Magnates), Rated: A

For average people, Bitcoin represents a new currency that is based on a decentralized blockchain-powered design. The entire concept bases its foundation on airtight mathematics, whereby real-time updates to a single decentralized ledger ensure a temper-proof medium of exchange.

North Korean Hackers Take Aim at Individual Crypto Investors (CCN), Rated: A

Faced with depleted reserves and having been hit with sanctions aimed at its illegal nuclear weapons program, North Korean hackers have a new strategy for growing the country’s cash reserves — steal crypto holdings from individual investors.

To steal their victims’ digital assets, hackers send unsuspecting victims an email with infected file attachments. Once the victim downloads the files, a malicious script infects the computer and takes total control of the machine. From then on, they can do serious damage.

New USAID Study Shows 43 Blockchain Solutions Implemented Had No Success Rate (Bitcoin Exchange Guide), Rated: A

According to a new study conducted by the US Agency for International Development (USAID), 43 blockchain solutions implemented in the international development sector had a zero percent success rate.

R3, GuildOne to offer DLTs to global petroleum firms on Amazon Web Services (Coin Report), Rated: B

GuildOne will be providing the technologies to the petroleum companies in partnership with enterprise blockchain software firm R3, with which it has been working to revolutionize the petroleum industry with the pioneering innovation of its own (GuildOne’s) Energy Block Exchange (EBX) blockchain business network utilizing the blockchain platform of R3, Corda, on AWS.

Huawei Cloud Announces Global Launch of its Blockchain Services (CCN), Rated: B

Huawei Cloud, the cloud services arm of Huawei Global, has announced the launch of its Blockchain Service (BCS), according to an official press release.

European Union

Ethereum (ETH) Faces More Scalability And Congestion Issues as Pending Transactions on Blockchain Hits 90k (Smartereum), Rated: AAA

Ethereum (ETH), after its launch, was considered as a game changer for digital currencies and blockchain. However, the blockchain is currently undergoing scalability and congestion issues. Ethereum has been encountering this congestion issue for quite some time. But the issue doesn’t seem to be going anywhere as the congestion keeps increasing by the day.

According to Etherscan, the pending transactions have surpassed the 90,000 mark.

Crypto Wallet Sales Still Going Strong, Says Ledger President (Fortune), Rated: AAA

The market for cryptocurrency has seen better times as Bitcoin struggles to stay above $4,000 and crypto hedge funds shut up shop. But one corner of the market seems to be weathering the downturn just fine: Ledger, which makes crypto hardware wallets, says sales are just fine.

“I’m happy to report Black Friday ’18 was almost on par with Black Friday ’17,” Pascal Gauthier, President of hardware maker Ledger, told Jen Wieczner when he dropped by our Balancing the Ledger studio this week.

Binance Coin (BNB) Long-term Price Analysis – December 2 (Bitcoin Exchange Guide), Rated: A

After a long successive of featuring lower lows in the past weeks, BNB/USD began witnessing choppy market movements on November 21, while the crypto made a feeble stride at around $6 mark. The range boundaries are being depicted by the $6 and the $4 marks on the chart.

Distribution territories: $10, $11, $12
Accumulation territories: $3, $2, $1

bnb
Source: Bitcoin Exchange Guide

Italian Court Denies Registering Businesses Using Cryptocurrency (Coingape), Rated: A

Businesses in Italy using cryptocurrency may no longer enjoy the mainstream benefits of decentralized economy. According to the reports, companies based on the crypto mechanism or employing cryptocurrency will not be eligible to register their business with Business Register.

United Kingdom

Skrill Officially Adds Ripple (XRP) to Their Platform (Ripple News), Rated: AAA

Internet payment system, Skrill recently announced that they have added XRP to their list of supported cryptocurrencies. As reported by the company, they made the decision of adding XRP based on list of requests from the holders of the second largest cryptocurrency in the market.

Funds Network Calastone to Roll Out Blockchain Settlements in 2019 (CoinDesk), Rated: A

Calastone, the operator of a London-based transaction network for investment funds, is looking to move its entire settlements system to a blockchain by May 2019.

According to a Financial Times report on Sunday, Calastone, which provides services to over 1,700 firms including JP Morgan Asset Management, estimates the plan could help the industry save up to £3.4 billion (or $4.3 billion) in fund distribution costs, excluding the U.S. market.

Currently, Calastone’s processes for settling funds are still manual, including over 9 million messages and transactions worth about $217 billion a month between buyers, sellers and distributors, according to the firm’s website.

WorkChain Blockchain Payroll And STASIS Enable EURS Stablecoin Crypto Paychecks For EU Workers (Bitcoin Exchange Guide), Rated: A

It seems that individuals that get paid in Euros can now receive their payments in cryptocurrency. The Blockchain Payroll Platform WorkChain.io partnered with the tokenization platform STASIS in order to enable euro-backed crypto paychecks for European Union (EU) users. The payments could be processed using the EURS stablecoin.

China

NEO Global Development releases November 2018 monthly report (NEO News Today), Rated: AAA

NEO Global Development (NGD) issued its November monthly report on December 1st, 2018. The NGD monthly report is designed to keep the broader NEO community up-to-date about the NEO blockchain’s development, progress, and community events.

What Is Loopring Protocol?  Introduction To LRC, LRQ, And LRN Tokens (Loopring), Rated: A

Ring miners process orders in exchange for either a margin split (explained below) or payment in LRC, the Loopring Protocol Cryptocurrency token for Ethereum, LRQ for Qtum, or LRN for NEO. As of December 1, 2018, the Loopring protocol has been deployed on Ethereum, NEO, and Qtum.

But governments like the U.S. aren’t happy with the move to decentralized trading. The Securities and Exchange Commission recently hit EtherDelta founder Zachary Coburn with a $400,000 fine, showing its inclination to target these exchanges.

As of December 1, 2018, the circulating supply of Loopring’s Ethereum tokens is 788,984,491 out of 1,374,955,752 LRC. The peak price so far was $2.09 on January 9, 2018.

Loopring
Source: Crypto Briefing

Ping An’s New Pitch for Blockchain: Shared Ledger, But Banks Keep Clients (CoinDesk), Rated: A

Ping An, the Chinese insurance giant that built the eTradeConnect blockchain, is modifying the platform to give its 12 participating banks more control over customer relationships.

Frank Lu, head of the blockchain division of OneConnect, PingAn’s fintech arm, and the architect of eTradeConnect, told CoinDesk his team is revising the way businesses submit their data for trade financing from the network. Instead of going to a central portal, they will have to sign up through individual banks.

China’s Tencent Warns of Bug in NEO’s Blockchain That Allows Hackers to Steal Tokens Remotely (Ethereum World News), Rated: A

Tencent’s Security Joint Lab has notified users of the Neo (NEO) blockchain of a potential bug that allows hackers to remotely steal tokens native to the blockchain. The vulnerability affects the popular Gas (GAS) tokens. The team notified the crypto and blockchain community via the popular micro-blogging website of Weibo.

They advised the following actions to prevent the loss of tokens:

  • Upgrade to the highest version of NEO-CLI client program
  • Avoid using remote RPC function, modify the address of BindAddress in the configuration file to 127.0.0.1
  • If you have to use remote RPC functions, change the RPC port number, enable Https-based port of JSON-RPC-based interface, or set up a firewall, etc. to protect the security node
Australia

Australian company announce the first accredited course in the application of blockchain (Market Insider), Rated: AAA

Gold Coast based company Blockchain Collective have successfully had their Advanced Diploma of Applied Blockchain accredited by the Australian Skills Quality Authority (ASQA), making them the first to offer this qualification.

Asia

Japanese Crypto Exchange to Relaunch as Part of Huobi After Buyout (Bitcoin.com), Rated: AAA

Bittrade, one of 16 regulated Japanese cryptocurrency exchanges, has announced the complete termination of its current trading system. The exchange will then reopen as part of the Huobi family.

Japan’s Financial Regulator to Introduce New ICO Regulations (CoinTelegraph), Rated: A

Japan’s financial regulator is set to introduce new Initial Coin Offering (ICO) regulations to protect investors from fraud, local news outlet Jiji Press reportedDec. 1.

According to “informed” sources cited by Jiji, business operators conducting ICOs will be required to register with Japan’s Financial Services Agency (FSA).

Singapore Central Bank Publishes Updated ICO Guidelines (CCN), Rated: A

The Monetary Authority of Singapore (MAS) has updated its guide for businesses that want to raise capital via initial coin offerings (ICOs).

It elaborates the Singapore central bank’s stance on how certain intermediaries should observe its instructions based on Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) policies.

Asian Markets Have a Growing “Appetite” for Ripple, Dan Morgan Says (Ethereum World News), Rated: A

On Friday (30 November 2018), at the CryptoCompare & MJAC London Blockchain Summit, Dan Moran, Ripple’s Head of Regulatory Relations for Europe spoke not about Ripple’s interest in Asia, he showed the other side of the coin. For Ripple it is now increasingly evident that the Asian market is interested in technological solutions such as those provided by them:

“It’s very early days, but we see the biggest appetite in Asian markets, in terms of demand, so remittance demand, whether it is corridors that are under-served because correspondence banking is too costly… So, we feel that there is demand.”

Monero [XMR]’s lead developer speaks about Bitcoin [BTC] as a real alternative to fiat currency (AMBCrypto), Rated: A

Riccardo Spagni aka fluffypony, a core developer of Monero spoke about Bitcoin’s bear market recovery and its volatility, during an interview with Tech Central. He also spoke about the use case of Bitcoin [BTC].

He went on to say:

“It’s very good time and previous movements have been much faster. You know, some of them have been two months. So, you know, three and half years has been like the longest bear market that we’ve had and I think those periods will probably start to get longer and longer as you know as the thing the movement shifts”

Announcing Testnet v3.0 — Codename: Mao Shan Wang (Zilliqa), Rated: A

Today, we are thrilled to announce that Testnet v3, codenamed “Mao Shan Wang” after another one of our favorite durian breeds, is now live. This is a major technical milestone — as far as we know, this is the first fully-fledged testnet in the world to implement network, transaction, and smart contract sharding. This specific testnet has addressed some of the security issues discovered by our security auditors, and added required safety checks and extra enforcement mechanisms to improve the stability of the system.

Indian State to Launch Blockchain-Based IP Marketplace in Bengaluru (Bitsonline), Rated: B

The Indian state of Karnataka, home to the country’s own Silicon Valley, is contemplating establishing a blockchain-based Intellectual Property (IP) marketplace based in Bengaluru (Bangalore)–a platform where innovators can patent ideas and then trade them to investors.

MENA

Islamic Financial Institution Partners With Startup to Develop Interbank Blockchain Tools (CoinTelegraph), Rated: AAA

Saudi Arabian developmental institution the Islamic Development Bank Group (IsDB) has partnered with a Tunisian startup to develop interbank blockchain tools, a press release confirmed Nov. 29.

Latin America

Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double (Bitcoin.com), Rated: AAA

Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers.

Africa

Digital Currency Risks Being Monitored: Nigeria’s Depositor Funds Insurer (CCN), Rated: AAA

Nigeria’s depositor protection body has said that the country is monitoring the risks associated with digital currencies.

EcoCash introduces US dollar wallet (Chronicle), Rated: A

MOBILE money platform operator EcoCash has introduced a foreign currency account (FCA) wallet facility to promote preservation of value in line with Reserve Bank of Zimbabwe’s measures to ring fence forex earnings.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

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Allen Taylor

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