Daily News Digest Featured News

Monday December 10 2018, Daily News Digest

Bitcoin

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United States

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News Summary

United States

First Week of December Ends with Flush of Green, Bitcoin Nears $ 3,700 (CoinTelegraph), Rated: AAA

The crypto markets are showing a wave of green, as Bitcoin(BTC) trades closer to $3,700 at the end of the week, as data from Coin360 shows.

Bitcoin

Bloomberg Opinion Bitcoin BTC Price Prediction: More FUD for 2019 (Ethereum World News), Rated: A

While the crypto markets see a slight reversal in pricing to round out the final week of December, with Bitcoin creeping closer to $3700 after hitting a relative low earlier in the week, predictions on the outlook of the industry for 2019 continue to sour investors.

Bitcoin Price Recovers 12% in 72 Hours While Traders Remain Cautious in Short-Term (CCN), Rated: AAA

Since December 8, the Bitcoin price has increased from $3,210 to $3,588, by just about 12 percent against the U.S. dollar.

In the same time frame, the cryptocurrency market added $11 billion to its valuation, avoiding a further drop below the $100 billion mark, which could have been critical for the short-term trend of the market.

BTC USD
Source: CCN

Coinbase ‘Delving Into’ Support for 31 Cryptos (Coin Idol), Rated: AAA

Coinbase, the U.S Crypto Exchange, officially declared on Friday December 7 via a blog post, that they are delving into the addition of more, new and significant assets.

The crypto exchange further highlighted the number of virtual assets, they are exploring to add. According to the latest blog, these include:

Coinbase

It Is No Longer a Matter of ‘If’, But ‘When’ Coinbase Will List XRP (Ethereum World News), Rated: A

The new list did however include XRP thus providing a silver lining for fans of the digital asset who have been waiting for a listing since early January this year. Back then, XRP went on to reach levels of $3.84 as traders were sure it was next to be listed on the exchange. Bitcoin Cash had been listed a few weeks earlier in December 2017.

But the listing fell through and XRP tailspinned to current levels of around $0.30.

Coinbase CEO: Crypto in VR is the Next Big Application of Blockchain (NewsBTC), Rated: A

Either it will be the best thing the crypto world will ever experience or a farce in the name of the best thing the world will ever experience.

That’s pretty much the discussion around virtual reality (VR), a technology which allows humans beings to experience an immersive illusion of being somewhere else.

It could be a reason why Brian Armstrong, co-founder of one of the largest crypto exchanges Coinbase, believes that VR could become a tool to expand virtual payment technologies. They could allow participants to earn virtual money which they can take back to the real world and spend them like any other fiat money.

Facebook Begins Hiring For Blockchain Positions, Continues Its Secret Date With Cryptocurrencies (CoinGape), Rated: AAA

Facebook has had a very interesting relationship with blockchain and cryptocurrencies. While the social media tech giant has been stringent with its advertising policies against cryptocurrencies and ICO’s, it seems to have been slowly building its blockchain and cryptocurrency war chest. According to the recent job openings put up on Facebook Careers website, the tech giant has put opened five blockchain positions.
Facebook blockchain jobs

Why Billionaire Investors Still Remain Positive on Long-Term Trend of Crypto (CCN), Rated: A

Mike NovogratzJim Breyer, and Tim Draper are some of many billionaire investors in the traditional financial market who remain optimistic towards the long-term trend of crypto.

For the most part, high profile individual investors are able to handle severe losses in emerging asset classes and high-risk assets like cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) because they account for a small part of their wealth and portfolios.

TRON boss wants to save Ethereum and EOS developers from “the collapse of their platforms” (Crypto News Review), Rated: A

Justin Sun, the boss of TRON, has managed to put a proverbial cat amongst equally proverbial pigeons, with a fresh Tweet sent over the weekend.

He used the platform to announce that TRON “will build a fund to rescue #ETH and #EOS developers from the collapse of their platform”.

Is PayPal Poised To Embrace Crypto? (Live Coin Watch), Rated: A

As reported yesterday by Cheddar, PayPal, a multinational fintech giant, has launched a token-based employee incentive platform, built using blockchain technologies. The platform reportedly rewards employees for contributing ideas to innovation-centric projects.

XRP ecosystem blooms as the year ends (AmbCrypto), Rated: AAA

A Twitter fan-channel of XRP called XRP Research Center, today uploaded a list of successes and developments that have taken place in the XRP ecosystem since mid-October. The tweet was mainly about the integrations that have been made into the ecosystem, wherein, some of the mentioned ones were the adoption of xRapid by SendFriend and r3 choosing XRP as the first settlement mechanism for Corda Settler. The full tweet read:

“*#XRP Ecosystem Update*
Additions since October 14:
-#xPring funds @securitize_io
-@kava_labs brings @Interledger to @cosmos
-@Mojaloop launches Mowali
-@Solstice_Info – Aurora ILSP
-@EnterBillions
-@sendfriendinc – #xRapid
-@Bitstamp – xRapid
-@inside_r3 – Corda Settler”

XRP success
Source: XRP Research Center on Twitter

Ripple Class-Action Moves Forward with Plaintiffs Starting a New Demand (Bitcoin Exchange Guide), Rated: A

Jake Chervinsky, Lawyer at Kobre & Kim LLP, wrote a tweet in which he talks about the latest developments in a previously filed class-action lawsuit against Ripple. He explained that the plaintiffs in the Ripple securities class action have filed motions to remand in federal court, asking to go back once again to state court.

American Express Praises Ripple’s Capability to Process Cross-border Transactions ‘In a Matter of Seconds’ (Ethereum World News), Rated: B

Speaking at the Wings of Change Europe conference in Madrid a few days ago, Carlos Carriedo, general manager of corporate payments at American Express explained that Ripple has the potential to improve the way payments are traditionally processed around the world.

Litecoin Climbs 10% In Rally (Investing.com), Rated: A

Litecoin was trading at $25.812 by 08:20 (13:20 GMT) on the Investing.com Index on Sunday, up 10.02% on the day. It was the largest one-day percentage gain since September 27.

The move upwards pushed Litecoin’s market cap up to $1.559B, or 1.40% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $14.099B.

More and More Freelancers Prefer Cryptocurrency Payments (Altcoin Buzz), Rated: A

Recently, a survey held amongst 1100 freelancers found that cryptocurrency is gaining popularity among the self-employed. The survey, conducted by Humans.net, showed that out of the 1100 people surveyed, 38% used cryptocurrency before, while 41% had never used the technology, and only 24% had never heard of it.

cryptocurrency
Source: Altcoin Buzz

SEC issues cease and desist order along with $ 50K fine to CoinAlpha (Chepicap), Rated: A

Seems like there’s no day without news coming from the Securities and Exchanges Commission (SEC)’s actions towards ICO and crypto companies these days.

The commission just released a cease and desist order to CoinAlpha Advisors LLC. that failed to register prior to their ICO.

Congressmen Introduce Bill Protecting Crypto Investors From Manipulation (Use the Bitcoin), Rated: B

On Nov 6., two US congressmen introduced bills meant to protect crypto investors from market manipulation. The laws also seek to position the United States as a leading light in the cryptocurrency industry. The two are Republican representative Ted Budd of North Carolina and Democrat representative Darren Soto of Florida.

Universal Protocol Alliance Welcomes BitGo (BusinessWire), Rated: B

BitGo will support the Universal Protocol Platform and its family of Tokens. The UP Platform allows all cryptocurrencies to become accessible on a single network through the introduction of Universal Tokens. The first set of tokens to be supported include the Universal Bitcoin (an Ethereum based version of Bitcoin), and two Stablecoins — the Universal Dollar (UPUSD) and the Universal Euro (UPEUR). These interoperable tokens are minted in a fully transparent process on the blockchain.

UnitedCorps Takes Legal Action Against BCH ABC Supporters (The Oofy), Rated: B

United American Corp. (UnitedCorp), a digital technologies company has launched a suit against the most active players on the BCHABC camp of the infamous “BCH hash war“, accusing them of manipulating both the market and the major functions of the entire blockchain.

International

Crypto Exchange Binance Is Launching Its Own Blockchain (The Daily HODL), Rated: AAA

Binance says the new blockchain will allow millions of entrepreneurs and developers worldwide to issue tokens.

Binance says the new blockchain will also support its upcoming decentralized exchange Binance DEX. Since Binance Chain will do more than just issue tokens, the new blockchain may be designed as a fully-fledged smart contract platform like Ethereum.

Binance Coin To Be Used in Decentraland’s Virtual LAND Auctions (Use the Bitcoin), Rated: A

The popular crypto exchange Binance and Decentraland sign a new partnership to improve blockchain-gaming solutions. The information was released a few days ago by Binance in a blog post. Users can now use Binance Coin (BNB) on Decentraland’s action for virtual world spaces.

Binance Launches Multi-Account Feature for Institutional Crypto Traders (Coin News Press), Rated: A

The Crypto Exchange while making the announcement on Thursday, said these sub-accounts will allow institutions to set up multiple trading accounts for each firm, while noting that different accounts would be given different levels of access and control, with Binance main account in control of every other sub-accounts, granting them the needed permissions to operate.

Binance Tops the World of Cryptocurrency Exchanges with 51 Million Unique Visitors Monthly (Bitcoin Exchange Guide), Rated: B

As the markets tumble in the cryptocurrency industry, Binance cryptocurrency exchange is thriving as reported by BD Center. The report by the digital marketing and consultancy firm showed that Binance has over 51 million unique visitors on its site monthly in 2018 as its growth rate continues to soar higher.

8 Teams Are Sprinting to Build the Next Generation of Ethereum (CoinDesk), Rated: AAA

Speaking to the complementary efforts of developers working on two separate upgrades to the ethereum blockchain – one dubbed ethereum 2.0 and the other dubbed ethereum 1x – Raul Jordan insists upgrades to be included in ethereum 1x on a shorter time horizon would have benefits to ongoing research for ethereum 2.0.

Jordan is the co-lead for one of eight different developer teams currently building software clients for ethereum 2.0.

1. ChainSafe Systems

Based in Toronto, ChainSafe Systems is a blockchain research and development startup offering consulting services to a number of different ethereum-based projects including Shyft, Bunz, Aion, and Polymath.

2. PegaSys

Fully supported by Consensys – the self-proclaimed “venture production studio” of ethereum headed by ethereum co-founder Joseph Lubin – PegaSys is building out ethereum 2.0 specifications for an existing ethereum Java client called Pantheon.

3. Harmony

Launched last October, Harmony is ethereum’s original Java client formerly maintained by a group of independent developers called Ether Camp.

Now called simply the Harmony team, these group of developers were recently awarded $90,000 through the Ethereum Foundation grants program to build out specifications for ethereum 2.0.

Ethereum’s Constantinople Upgrade May Go Live in Mid-January 2019 (Crypto Globe), Rated: A

Ethereum’s developers have decided to activate the Constantinople hard fork upgrade on the cryptocurrency platform’s network at block number 7,080,000, however, this is only set to happen if Ethereum’s community members vote to move forward with the update (at that time).

The Worst Narrative In Cryptocurrencies (Seeking Alpha), Rated: A

Successful investing is often more so about how to avoid bad ideas than it is about finding the right ideas.¹ In the last year, there has been no place worse to be than cryptocurrencies, with most of them down 85%+. Despite this, I still see lots of optimists pushing cryptos based on narratives that are fundamentally wrong. For instance, here’s one I see all the time:

“Governments are big bad terrible entities that will print money and ruin society and we can create a better form of decentralized money that won’t inflate our living standards away.”

So, here’s why this narrative doesn’t make sense:

  1. “Money” needs to be elastic.
  2. Governments have less control than we think.
  3. Par conversion is Remarkably Difficult in Crypto.

Bitcoin Cash [BCH] ABC to be delisted from all exchanges, says Bitcoin SV [BSV]’s Calvin Ayre (AMBCrypto), Rated: A

Calvin Ayre, a vocal supporter of the Bitcoin Satoshi’s Vision [BSV] chain, recently published an article on his ‘news portal’ known as Coingeek, calling upon exchanges to delist the coin currently known as Bitcoin Cash [BCH] running on the ABC implementation of the chain. This comes after a lawsuit was brought down on BCH and its proponents such as Roger Ver, Jihan Wu,  and Amaury Séchet over claims of market manipulation.

3 Small Market Cap Cryptocurrencies To Watch In 2019 (Invest in Blockchain), Rated: A

1. Luxcore ($LUX) — $3 Million Market Cap

Deriving its name from the Latin word Lux, meaning “light,” Luxcore is in the midst of constructing a blockchain solutions and services ecosystem geared towards enterprise security and privacy products.

2. Caspian ($CSP) — Not Currently Trading

The brainchild and joint venture between Tora Trading Services Limited — a leading global cloud-based technology provider — and Kenetic Trading Systems Limited — a leading blockchain and crypto investment firm — Caspian is striving to institutionalize crypto asset management by way of a full-stack cryptocurrency trading and risk management platform.

3. Fantom ($FTM) — $8 Million Market Cap

Tackling a tale and issue as old as time in blockchain — scalability — South Korea-based Fantom is the world’s first Directed Acyclic Graph (DAG) based smart contract platform.

Barclaycard joins forces with Evernym on self-sovereign identity (Finextra), Rated: B

Evernym’s SSI answer, Sovrin, is a public utility, using distributed ledger technology to remove the need for centralised silos and ensure that users “own” their digital identity and have complete control.

European Union

Trezor Crypto Wallet Now Offers Native Support For Ethereum (Coin Pedia), Rated: AAA

The announcement was open by the Trezor blog. The crypto wallet manufacturer explains that ongoing third-party integrations- MyCrypto, MyEtherWallet, and MetaMask, currently using Trezor to support these tokens, can simultaneously use this new functionality. They need not think of discontinuing the integrations going forward.

ETH Bullish Above $ 98 and Bearish Below $ 88 (NewsBTC), Rated: AAA

The past few hours were positive as there was a decent upward move above $90 in ETH price against the US Dollar. The ETH/USD pair climbed above the $94 level and the 100 hourly simple moving average. There was also a break above the 50% Fib retracement level of the last decline from the $104 high to $84 low. However, the upside move was capped by the $98-100 resistance zone.

Ethereum
Source: NewsBTC

Crypto Wallet Maker Ledger Partners with Neufund to Create Security Token Platform (CCN), Rated: AAA

European crypto startups Neufund and Ledger have announced that they will work together to bring ERC20 tokens issued through Neufund to Ledger’s cryptocurrency hardware wallets and applications.

EOS becomes biggest gainer among top-10 club; news comes on the back of Coinbase announcement (AMBCrypto), Rated: AAA

At the time of writing, EOS was going up by 10.02% with a total market cap of $1.763 billion. The cryptocurrency was trading for $1.95 with a 24-hour market volume of $861.220 million. A majority of EOS’s trade volume was held by OKEx, which had a grasp on $104.145 million of the total trade.

EOS
Source: AMBCrypto

$ 80 Million ICO TenX Founder Linked to Pyramid Scheme (CCN), Rated: A

TenX president Julian Hosp has reportedly been implicated in connection with Lyoness, an Austrian discount shopping service that has been declared an illegal pyramid scheme in Norway, Austria, and Switzerland.

Is this Initial Coin Offering that May Have Raised $ 158 Million Running Out of Money? (Crowdfund Insider), Rated: A

An initial coin offering (ICO) that apparently raised $158 million is running out of money, according to a recent tweet. The statement was quickly denied by Sirin Labs CEO Moshe Hogeg who claimed they only raised 205,000 ETH – currently worth about USD $20 million.

A Southern European Blockchain Bloc Has Formed. What Next? (Bitsonline), Rated: B

Therein, the represented E.U. nations — France, Spain, Italy, Portugal, Greece, Malta, and Cyprus — announced their commitment to further researching and deploying blockchain technology in a coordinated bid to make the participating Southern European countries global leaders going forward in the digital sector.

United Kingdom

Crypto Custody Startup Raises $ 8 Million from ConsenSys & Two Sigma Ventures (CCN), Rated: AAA

Venture firm Two Sigma and Ethereum development studio ConSensys have invested $8 million into digital asset custody solution provider Trustology, Business Insider reports. Both investors would be joining Trustology’s board of directors.

Buy yourself a horse with Bitcoin (Finyear), Rated: B

Focused on delivering immersive experience to its members, Equinox Racing recently opened its horse’s shares to cryptocurrency. From now on, you can use your Bitcoins to buy yourself the thrill of horse racing and the privilege of horse ownership.

China/Hong Kong

OKEx surpasses Binance as the World’s top Crypto Exchange by Trade Volume (CoinGape), Rated: AAA

World’s second largest cryptocurrency exchange, OKEx bagged the first position according to Coinmarketcap today. On November 09, 2018, OKEx cryptocurrency exchange with a market cap, $609,908,960 has surpassed Binance which currently stands with market cap $562,039,878.

Central bank deputy governor: STO business ‘essentially an illegal financial activity in China’ (SCMP), Rated: A

The People’s Bank of China officially banned security token offering (STO) businesses on Saturday, in another blow to digital currencies in mainland China.

Pan Gongsheng, a deputy governor of the People’s Bank of China, the country’s central bank, told an internet finance forum in Beijing that “illegal” financing activities through STOs and ICOs were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.

Chinese Internet Court Claims It Will Use Blockchain to Protect Writers’ Intellectual Property (Crowdfund Insider), Rated: A

An “Internet court” in Hangzhou in Eastern China will soon allow evidence logged on blockchains (or distributed ledgers) to be admitted in cases of alleged infringement on a writer’s copyright, China.org reports.

NEO Foundation Seeking to Decentralize Four of Its Seven Nodes (Cryptoslate), Rated: A

NEO has announced that it is looking to decentralize the nodes on its network. NEO Foundation, which currently runs five of the seven nodes on its system, is opening the process to applicants who wish to run one of these nodes.

Five Leading DApps On The NEO Blockchain (Crypto Briefing), Rated: B

The Bridge Protocol offers Know Your Customer (KYC) and identify verification services. Users provide their personal identifying information (PII) and Bridge creates a “compliant identity” that’s tied to a public address.

Travala (formerly known as Concierge) is a global online travel booking marketplace that aims to be a one-stop shop for all travel-related services. Travala uses (AVA), a NEP-5 token, to purchase hotel rooms on its platform.

Switcheo Exchange is a decentralized exchange (DEX) that first launched on the NEO blockchain. 

Effect.AI aims to establish a decentralized network for artificial intelligence (AI) services.

nOS is a virtual operating system that functions as a web browser and wallet. 

HTC’s Blockchain Phone Selects Brave as Default Browser (Finance Magnates), Rated: A

HTC, a Taiwan-based company which recently released a new blockchain-compatible mobile phone, has announced Brave as the device’s default internet browser.

APAC

South Korean Startup Presto to File Constitutional Appeal Against Local ICO Ban (CoinTelegraph), Rated: AAA

South Korean blockchain startup, Presto, will reportedly file a constitutional appeal over the county’s ban on Initial Coin Offerings (ICOs), South Korean economic media outlet Sedaily reports Dec. 6.

Cryptocurrency crash offers industry the reality check it needs (Channel NewsAsia), Rated: AAA

A firm believer of XRP, Mr Ken Tan continued pumping money into the cryptocurrency over the course of this year — even after the prices of cryptocurrencies have fallen from its peak between last December and January this year.

Thus far, the 36-year-old businessman has poured about S$100,000 into cryptocurrencies, including the S$15,000 that he invested in November last year when prices skyrocketed.

WHAT GOES UP MUST COME DOWN

The crash in cryptocurrency prices should not have come as a big surprise, given the earlier warnings issued by some well-known investors and financial experts.

Blockchain helps Taiwan’s rice farmers mitigate effects of climate change (Financial Times), Rated: A

A Taipei start-up is giving farmers a boost by using sensors to link harvests to the web and recording the data using blockchain technology. The FT’s Kathrin Hille reports from Chihshang in east Taiwan

The First-ever Bytom Payment in The Real World – Will This Lead to Mass Adoption? (Forbes), Rated: A

The coin is called Bytom (symbol: BTM ) and it is purporting to bridge the worlds of traditional finance and the blockchain with the purpose of supporting the interaction of multiple assets. It made its first real-world transaction in October 2018 and which took place on what is claimed to be the largest e-commerce shipping platform, Sea Rates

A payment for the consignment of goods from China to Korea has actually been successful with the use of the Bytom blockchain. The total cost was only 74 Bytom roughly USD 17 and this is, far less than through a payment made with US dollars for the same consignment

All You Need To Know About The 2018 Cryptocurrency Slump (Analytics India), Rated: A

Earlier this March, the cryptocurrency market took a massive hit in terms of price. The total market capitalisation went from $372 billion to $309 billion in just one day. Bitcoin was the most affected in this $60 billion variation. Although the digital market picked up from this crash later on, it never caught up with the $560 billion made in December last year.

‘Cryptocurrencies won’t be back anytime soon’ (Business Mirror), Rated: A

FILIPINOS invested in cryptocurrencies would do well to study closely the insight shared recently by technology research company Canalys. It believes there is no coming back for cryptocurrencies.

MENA

IBM Partners with Abu Dhabi National Oil Company for Blockchain Supply Chain System (CoinTelegraph), Rated: A

The Abu Dhabi National Oil Company (ADNOC) has successfully collaborated with IBM to pilot a blockchain supply chain system, according to an ADNOC press releasepublished on Dec. 9.

Eurasia

Gazprombank enters secure crypto storage sector (Asia Times), Rated: AAA

The banking division of Russian energy giant Gazprom is aiming to provide crypto custody services to institutional investors next year.

Always back up your wallet! Investor had computer formatted, losing $ 170k in BTC (Chepicap), Rated: A

According to a Reddit post, while many BTC hodlers lost 50% in the past three months, a Turkish investor did them one better and lost a cool 100% of his $170,000 of BTC by returning a laptop which had his only copy of a crypto wallet on it.

Canada

Canadian Crypto Exchange Coinsquare BuyCoin squares BlockEQ Wallet for $ 9 Million (BTC Manager), Rated: AAA

Coinsquare has acquired BlockEQ, Stellar’s non-custodial crypto wallet, in a bid to expand its offerings beyond just digital asset trading, the company announced in a press release on December 6, 2018.

Latin America

Mired in a financial crisis, Argentina becomes a hotbed for cryptocurrencies (CGTN), Rated: AAA

One of the subjects on the agenda at the G20 was reaching an agreement on regulating cryptocurrencies.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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