Daily News Digest Featured News

Monday January 14 2019, Daily News Digest

EOS
Source: Cryptonews

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United States

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European Union

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News Summary

United States

Bitcoin Falls Under $ 3,600 as Top Cryptocurrencies Report Moderate Losses (CoinTelegraph), Rated: AAA

At press time, Bitcoin is down over 2 percent on the day, trading at around $3,568. Looking at its weekly chart, the current price is lower than the intra-week high of $4,109 — registered on Jan. 8 — and is also lower than $3,869, which is the value of one bitcoin last Sunday.

Bitcoin 7-day chart

Volume of Crypto is Dropping, is Bitcoin Headed Below $ 3,000? (CCN), Rated: AAA

In the last 48 hours, the volume of the crypto market has dropped from $15 billion to $13 billion as the Bitcoin price fell below the $3,600 mark.

A cryptocurrency trader Josh Rager wrote:

As the volume continues to slowly descend Bitcoin could see more sideways ranging This could last for days or weeks until a decrease in buyers, currently holding up the market, at these levels. Nice support below $3,000 with lots of buyers waiting there.

bitcoin
Source: CCN

Bitcoin (BTC) Price Analysis: New Bearish Channel Forming (Ethereum World News), Rated: A

Bitcoin is starting to trend lower since last week’s selloff, creating a descending channel with its lower highs and lower lows on the 4-hour time frame. Price is down to the mid-channel area of interest after recently bouncing off the resistance.

The 100 SMA is still above the longer-term 200 SMA for now to indicate that the path of least resistance is to the upside. In other words, there’s still a chance for support to hold and spur a bounce back to the resistance at the $4,000 handle.

BTC USD
Source: Ethereum World News

Winklevoss Twins: Bitcoin Can Overtake Gold With the Right Rules (Fortune), Rated: A

The crypto markets are in a slump but Tyler and Cameron Winklevoss aren’t discouraged. The twin brothers, who are longtime fixtures in the Bitcoin world, believe digital currency has a bright future—so long as we have banking-style regulations that will help people trust it.

This Scaling Tech Could Let You Sync Bitcoin Straight From Your Phone (CoinDesk), Rated: A

“Maybe we don’t have to store everything ourselves.”

That’s Tadge Dryja, cryptocurrency research scientist at the MIT Digital Currency Initiative, explaining the concept behind his bitcoin scaling solution, “utreexo.”

Based on an idea that has been pursued by developers for many years, utreexo seeks to streamline an aspect of bitcoin’s code that leads to heavy storage requirements over time.

Simply put, it addresses what is known as the UTXO set – or the code that gives information on whether a bitcoin has been spent.

The First Bitcoin (BTC) Transactions Marks Tenth Anniversary (Smartereum), Rated: A

The first Bitcoin (BTC) transaction took place exactly ten years ago on the 12th of January 2019. The first transaction involving BTC ten years ago marked the beginning of a new era for the global monetary system. The transaction was carried out between Satoshi Nakamoto – the anonymous creator of Bitcoin (BTC) – and Hal Finney, a long-term cryptographer, and cypherpunk and US software engineer.

Coinbase has topped the Blacklist of Crypto Traders and here’s why (ZyCrypto), Rated: AAA

Although Coinbase is thriving on the path of enlargement as it stretches its services with a new office in Portland, already existing users seem to be having a hard time with the exchange for reasons relating to user identity, transaction fees, and age restrictions. Making this known via Reddit, quite a number of traders revealed that they are having a hard time buying and withdrawing coins.

SEC REPORT: EXAMINING CRYPTOCURRENCY A PRIORITY IN 2019 (Bitcoinist), Rated: AAA

According to a report titled “2019 Examination Priorities,” OCIE says it plans to shine the spotlight on the goings-on in the cryptocurrency.

From the report:

In 2019, OCIE will prioritize certain practices, products, and services that it believes present potentially heightened risk to investors or the integrity of the U.S. capital markets. Designed to support the SEC’s mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation, the six themes for OCIE’s 2019 Examination Priorities, which include perennial risk areas and developing products and services, are:

  1. Matters of importance to retail investors, including seniors and
    those saving for retirement;
  2. Compliance and risk in registrants responsible for critical
    market infrastructure;
  3. Select areas and programs of FINRA and MSRB;
  4. Digital Assets;1
  5. Cybersecurity; and
  6. Anti-Money Laundering

Read the full report here.

Is the SEC Violating the First Amendment Rights of ICO Operators? (BitsOnline), Rated: A

Is the SEC’s gag order tactic in enforcement action settlements a breach of the First Amendment? The regulator’s “neither admit nor deny” policy for defendants who choose to settle when charged with violations is about to be tested.

Crypto Exchange Bitrue Launches 4 New Ripple-Pegged XRP Markets for HOT, DNT, PRO and NPXS (Bitcoin Exchange Guide), Rated: A

In this way, the exchange has 26 XRP pairs and the intention is to reach over 30 XRP pairs by the end of January. The exchange is also promoting a 50% discount in all XRP trading pairs at the platform.

4 Reasons To Buy Ripple’s Digital Asset XRP In 2019 (Oracle Times), Rated: A

There are a lot of important banks such as Santander and more that decided to go with Ripple’s tech over SWIFT, the traditional payment system. the latter is outdated, and it’s slowly but surely losing popularity.

Ripple CEO Brad Garlinghouse to Meet SWIFT’s Retiring CEO Gottfried Leibbrandt in Switzerland (Ripple Coin News), Rated: B

Ripple has emerged as the threat to long-established SWIFT and henceforth the talks on which is the best solution for international remittance service is never-ending. In this month, the CEO of San-Francisco based Ripple Lab Inc, Brad Garlinghouse and outgoing CEO of SWIFT, Gottfried Leibbrandt will have a one-to-one talk in upcoming ‘Blockchain Economic Forum’. The conference is based in Davos, Switzerland for two days, i.e January 24 and 26, 2019.

Litecoin Crosses Another Milestone On Its Way To Glory (BTCWires), Rated: A

The cryptocurrency has recently crossed the mark of 60 million, with regard to mining and circulation. Currently, more than 60 million LTC have already been mined, which is a great step ahead in the development of a Litecoin ecosystem.

Litecoin (LTC) Price Analysis: Sell Rallies Near $ 32 and $ 35 (Ethereum World News), Rated: A

  • Litecoin price fell sharply this past week and broke the $40.00 and $35.00 supports (Data feed of Kraken) against the US Dollar.
  • There is a short term bearish trend line formed with resistance at $32.00 on the hourly chart.
  • LTC price may correct a few points, but it remains sell near the $32.00 and $34.00 levels.
Litecoin
Source: Ethereum World News

KodakCoin ICO Went From a Joke to a Real Blockchain Project in 2019 (The Independent Republic), Rated: A

If you briefly examined the KodakCoin ICO in January of 2018, you’d be forgiven for expressing some scepticism. January 2018 was a time when the crypto bubble was at its bubbliest. It seemed like anyone could make a mint with even the barest concept for an ICO and Kodak seemed like the most obvious opportunist of the bunch.

9 cryptocurrency firms sue Washington State Utility over 50% Rate Hike (IOL.co.za), Rated: A

A major utility in the US state of Washington, Grant County public utility district, and its commissioners are facing a lawsuit filed by nine cryptocurrency firms. The suit alleges that they “acted inappropriately in creating and approving a new rate that raises electricity costs” for cryptocurrency miners.

Top 10 Ways Internet Of Things And Blockchain Strengthen Supply Chains (Forbes), Rated: AAA

  • The majority of enterprises are prioritizing their blockchain pilots that concentrate on supply chains improvements (53%) and the Internet of Things (51%) according to Deloitte’s latest blockchain survey.
  • By 2023, blockchain will support the global movement and tracking of $2T of goods and services annually based on a recent Gartner
  • By 2020, Discrete Manufacturing, Transportation & Logistics and Utilities industries are projected to spend $40B each on IoT platforms, systems, and services.
  • The Supply Chain Management enterprise software market is growing from $12.2B in 2017 to $20.4B in 2022, achieving a 10.7% Compound Annual Growth Rate (CAGR) according to Gartner’s latest market forecast.
  • Of the many blockchain and IoT Proof of Concept (POC) pilots running today, track-and-trace shows the most significant potential of moving into production.

Despite Apparent Crypto Winter, Blockchain Developers Are Making Money (Smartereum), Rated: A

About six months ago, Blockchain developers were not earning as much as they are now. This was revealed by a survey-based report carried out by Computer World.

During the course of the last few months, Blockchain developers who were in the highest wage bracket were earning more than US$4,000 annually. This report emanated from a survey, which was conducted by Janco Associates, a management consulting firm.

The median yearly pay for Blockchain developers is considerably higher than what other software developers earn at US$132,000. More experienced developers earn more than US$176,000 when they change their employers.

5 Things Bitcoin, Blockchain And Cryptocurrency Industry Should Discard In 2019 (Bitcoin Exchange Guide), Rated: A

One of the trends that took the center stage on social media platforms is paid shilling.

Bitcoin ETFs can be expected to have a huge impact on Bitcoin and the crypto market by extension. This year just might as well see more development in this aspect. However, it’s time that Bitcoin ETFs should be given some space.

Yeah, that’s right. Institutional investors will enter the market and huge money will pour in and yadda yadda yadda.

Price is the integral factor of the crypto market that maintains the excitement and commotion in the market.

But it’s time we better shift our focus and not acknowledge these people who would rather rant about the dooms and glooms of technology and bash what they don’t understand instead of learning about its potential.

International

Top 5 Crypto Performers Overview: Tron, Neo, Cardano, Binance Coin, Litecoin (CoinTelegraph), Rated: AAA

Tron was the best performer in the past week, as it bucked the trend and stayed comfortably in the green. The company has acquired the peer-to-peer torrent client BitTorrent in August 2018. Last week, the latter has launched its own Tron-based cryptocurrency called BTT.

Tron
Source: CoinTelegraph

The market participants are awaiting the release of Project Shelly that will help Cardano shift from a centralized platform to a decentralized one. Will this upgrade propel the digital currency higher in the near future? What should the traders do now?

Cardano
Source: CoinTelegraph

Binance has revealed plans to launch one new token every month of this year through Binance Launchpad, its exclusive token launch platform. Will this give a much needed boost to the struggling initial coin offering (ICO) market?

Binance Coin
Source: CoinTelegraph

Cryptocurrency Conferences Continue to Thrive Despite Industry Downturn (Bitcoin.com), Rated: A

Cryptocurrency and blockchain related conferences did not see a decline in popularity last year. The number of crypto-infused events held was a stark contrast to the many other sectors within the digital asset economy, according to recent data collected by the analysis site Tradeblock. In 2018, cryptocurrency conferences really started heating up and event organizers pulled in millions from steady ticket sales and initial coin offering (ICO) exhibition booths. For instance, last year at Consensus Week (May 11-17) in New York the conference scored a whopping $10.5 million with event tickets being sold for $1,500-2,000 for all 7,000 attendees.

Top 10 Cryptocurrencies according to Market Capitalization (Coinnounce), Rated: A

Top 10 Cryptocurrencies by Market Capitalization are:

1. BITCOIN

2. RIPPLE (XRP)

3. ETHEREUM

4. BITCOIN CASH

Exchange Says 51% Attacker Returned $ 100K-Worth of Ethereum Classic (CoinDesk), Rated: A

Cryptocurrency exchange Gate.io said Saturday that $100,000 in ethereum classic has been returned following a recent hack.

In an announcement, the exchange further said it tried to contact the 51-percent attacker, but has not received any reply so far, adding:

“We still don’t know the reason. If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people of the risks in blockchain consensus and hashing power security.”

Will All the 2000+ Cryptocurrencies Listed on CoinMarketCap Survive? – Maybe Not (BlockPublisher), Rated: A

Despite being pretty nascent, the world of blockchain and cryptocurrencies has become filled with a lot of blockchain and crypto startups. More than 2000 crypto and blockchain-linked projects are listed on CoinMarketCap right now. Moving forward, are all of these altcoins and blockchain-based companies going to survive?

Buying a piece of the Mona Lisa: Are STOs the new ICO? (Crypto Insider), Rated: A

Consider this: only one-third of the world’s wealth is held in cash. The rest is held in securities (stocks, COD’s etc.) and real estate. You can’t always simply sell those securities – you may own your house but you can’t simply get $400,000 for it in cash tomorrow. A lot of wealth is locked up. Things could get really, really interesting especially when it comes to ownership of physical assets like art.

Google Reportedly Blacklists ‘Ethereum’ as a Google Ad Keyword, Startup Claims (CoinTelegraph), Rated: A

Google (Alphabet Inc.) has reportedly blacklisted keywords mentioning Ethereum (ETH) on its advertising platform Google Ads, smart contract auditing startup Decenter tweeted on Jan. 10.

The official Google Ads account replied to the tweet stating that cryptocurrency exchanges targeting the United States and Japan can be advertised on the platform, and that targeting other countries could be the reason for the ad rejection.

European Union

Ethereum Price Analysis: ETH Remains In Downtrend, Could Test $ 100 (NewsBTC), Rated: AAA

In the weekly analysis, we discussed the key $120 and $121 supports for ETH price against the US Dollar. The ETH/USD pair struggled to stay above the $121 support and later fell sharply. It broke the $121 and $120 support levels to test the next support at $114. A low was formed around the $113.45 level and the price is currently correcting higher. An initial hurdle is the 23.6% Fib retracement level of the recent decline from the $128 high to $113 low.

Ethereum
Source: NewsBTC

13 Exchanges Have Confirmed Support For The Ethereum Constantinople Upgrade (Smartereum), Rated: A

Ahead of the upgrade, thirteen cryptocurrency exchanges have declared support for the hardfork. One of the first exchanges to announce their support was OkEX.

Some other exchanges that have declared support for the upgrade are BitMart, Bittrex, OKCoin, Binance, ABCC, BiBox, Cryptopia, BitForex, Catex, Wallet, Koinex, IDAX, WazirX, EtherFlyer, TOK, Indodax, and HotBit.

Ethereum’s Constantinople Hard Fork: What to Expect & What You Need to Know (CryptoGlobe), Rated: A

The Ethereum (ETH) hard fork upgrade will be activated at block number 7,080,000, which is expected to be mined between January 15 and January 17, 2019. Referred to as Constantinople, Ethereum’s hard fork will consist of several codebase modifications specified by five different ethereum improvement proposals (EIPs).

The set of upgrades planned for Ethereum, with Constantinople, are non-contentious as all network participants have reportedly agreed to activate the five EIPs listed below:

  • EIP 145 – more cost-effective and overall efficient approach to processing information (by adding bitwise shifting operators to the Ethereum Virtual Machine (EVM);
  • EIP 1014: better approach to accommodating network scaling solutions such as off-chain transactions;
  • EIP 1052 – an improvement on how contracts are processed;
  • EIP1234 – 12-month delay of difficulty bomb; reduce mining rewards from 3 ETH to 2 ETH per block;
  • EIP 1283 – a better way to monetize data storage changes (made by smart contract programmers)

How to Make Market Capitalization Measure Great Again (Cryptonews), Rated: AAA

Market capitalization, or market cap, on coinmarketcap.com and various similar websites is misleading. It is calculated by using this simple formula:

Market Cap = Price * Circulating Supply

The more coins in supply, the bigger the market cap. The problem with this calculation is that over time coins get lost and some of them are stuck in various smart contracts or held by a foundation with a time lock. This explains why forked cryptocurrencies such as Bitcoin Cash or Bitcoin Gold have such large market cap even though it is not even close to their real market capitalization.

EOS
Source: Cryptonews

Another problem is estimating the market cap of an ICO (initial coin offering) project, in which usually 20% to 50% of the total supply is controlled by a development team or some sort of a foundation.

Bitcoin Cash
Source: Cryptonews

Katallassos launches a standard framework for decentralized derivatives (Cryptoninjas), Rated: A

Katallassos, a new standard framework for originating and issuing financial instruments and financial services, has today been announced as the flagship project of Trinkler Software, a company founded be Reto Trinkler – Cofounder of Melonport, a board member of the Web3 Foundation, and Forbes 30 under 30 in 2018.

Swedish financial regulator warns public about people offering e-Krona (Chepicap), Rated: A

Swedish central bank found some individuals selling e-Krona, the country’s digital currency project that’s still under discussion.

The central bank of Sweden, Riksbank is reported to issue a public warning against the activities of some people who offer e-Krona.

United Kingdom

Institutional capital to ‘considerably expand’ crypto market in 2019 (deVere Group), Rated: AAA

Institutional investors – excited by greater regulatory clarity – are going to drive “considerable expansion” of the cryptocurrency market in 2019.

This is the bold forecast by the CEO of one of the world’s largest independent financial advisory organisations.

China/Hong Kong

Blockchain start-up Zwoop collapses after its ICO gets cancelled (BCFocus), Rated: AAA

Blockchain start-up, Zwoop, reportedly collapsed which was developing a “revolutionary, e-commerce assistant that will transform how the world shops online,” according to its LinkedIn page.

Alessandro Gadotti, Italian entrepreneur & founder of Zwoop raised $13 million from an American-Canadian billionaire and mining tycoon,Robert Friedland. He is the founder of Ivanhoe Capital Corporation, a key stakeholder in Zwoop and Ivanhoe Mines, a public company in Canada listed on Toronto stock exchanges and the New York NASDAQ.

Mongolia Continues to Attract Bitcoin (BTC) and Crypto Miners (Ethereum World News), Rated: A

This is where Mongolia is emerging as a preferred destination for crypto miners to set up shop based on the two factors of cheap electricity and cold weather to aid in cooling. These ideal conditions has attracted a number of Japanese miners one of which is the e-wallet company of Ginco.

Asia

Japan: Seven Cryptocurrency Exchanges Could Receive FSA-Issued Licenses in Two Months (CoinTelegraph), Rated: AAA

According to new insight into the Japanese financial agency’s review process of companies applying for a cryptocurrency exchange license, seven applications will be either approved or rejected within two months. Cointelegraph Japan reported on this development on Jan. 12.

Cryptocurrency Ban In India Becomes More Intense As Citizens Are Warned Not To Touch Bitcoin (Smartereum), Rated: A

According to new reports, banks in India are threatening to close the accounts of customers who deal in cryptocurrencies. This news isn’t surprising as India has had a strict ban on cryptocurrencies for a long time now. The report was published by Morgan Creek’s Anthony Pompliano who posted on Twitter, that banks in India are doing everything they can to prevent cryptocurrency trading. The tweet stated that these banks sent out warning statements to their customers about dealing with cryptocurrencies. Any customer who ignores the warning will face account closure.

Malaysian Government Still Deciding Whether or Not to Legalize Cryptocurrency (CCN), Rated: A

Malaysian government officials have come out to say they are still undecided on whether or not they will legalize cryptocurrency. The matter is still under consideration, which is frustrating those looking to seize the moment to help the Malaysian cryptocurrency industry grow.

South Korea Supports Blockchain with Tax Credit (Ethereum World News), Rated: B

Despite the crypto markets entering into their twelfth month of a bear cycle, with the price of Bitcoin slipping below $4000 after making a rally to start 2019, the South Korean government has quietly added blockchain to the list of research and development fields that can qualify for a tax credit.

According to a report published on Jan. 8, the local Ministry of Strategy and Finance has announced the updated tax law, which will go into effect this coming February.

MENA

EXPECT ‘LARGE INCREASE’ IN CRYPTOCURRENCY TAXES FILED FOR 2018, SAYS BITTAX CEO (Bitcoinist), Rated: AAA

Gidi Bar Zakay: I’ll admit that, like everyone else, I was also prejudiced against bitcoin. But when I was approached by the tax authority while serving in a public position at the Institute of Certified Public Accountants and was asked to comment on a circular that they intended to issue regarding bitcoin, I realized it has potential. That this is what the world needs right now.

Not everyone can calculate crypto taxes from their own home. The regular and familiar calculation method – FIFO (First in First Out) – isn’t so simple to calculate either, but calculating tax in a way that will simultaneously represent the actual activity in coins, prevent double taxation caused by the exchange of altcoins, allow the user to present the whole image, prevent data omission and save tax payments on activity that does not reflect an actual transaction, is a complex task which cannot be performed with Excel or a simple calculator at home.

Latin America

Crypto Goes Narcos as Escobar Estate Launches New Stablecoin ICO (NewsBTC), Rated: AAA

The late Pablo Escobar is infamous for a number of reasons but crypto has not been among them, until now. An ICO for a dollar pegged stablecoin has been launched by the brother of the drug lord and Colombian cult hero in an effort to impeach US president Donald Trump.

Canada

Elections Canada has Political Parties weigh in on CryptoCurrencies (ICO News), Rated: AAA

Elections Canada wants to form an opinion on cryptocurrencies.  To do so, they have opened channels for political bodies to voice their opinion.  These channels will remain open until January 21st.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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