Tuesday, July 17, 2018

Kodak Failure / Zcash / Oracle / SEC Comments

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Here are today's ten most important Bitcoin stories, efficiently ranked & summarized by smart humans, not algorithms:

$BTC (1:16 p.m. EST): $6,778.41 (1.89%) // 90-day high: $9,927.71 // 90-day low: $5,755.25/ / More

$BCH (1:16 p.m. EST): $796.35 (0.78%) // 90-day high: $1,786.80// 90-day low: $608.37 // More

$ETH (1:16 p.m. EST): $472.91 (-0.66%) // 90-day high: $831.65 // 90-day low: $365.43 // More

$LTC (1:17 p.m. EST): $84.14 (0.53%) // 90-day high: $251.03 // 90-day low: $73.12 // More

$XRP (1:17 p.m. EST): $0.47 (2.21%) // 90-day high: $1.20 // 90-day low: $0.43 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. In a surprise to practically no one, the Kodak-branded cryptocurrency mining plan has folded before it ever really began. A bitcoin mining computer named the Kodak KashMiner was shown off at CES last January, temporarily reviving the Kodak brand. Spotlite USA, the company behind the product and owns a license to the Kodak name, told the BBC that the bitcoin mining product will not come to market. To make things more interesting, Kodak told the BBC that its name was never officially licensed for the mining product despite heavy advertising. -BBC

Kodak mining operation not happening
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2. Zcash mining has recently been four times more profitable than bitcoin mining. A report from Crypto Briefing suggests that Zcash is the most profitable coin to mine at this time. This comes as the price of bitcoin has dropped while the equipment used to mine it has increased. Zcash miners use the Antminer Z9 mini and, in some cases, can expect an $8,000 return on their investment in just two years. -INVESTOPEDIA

Zcash mining jumps in profitability
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3. Oracle has rolled out a blockchain service for customers. The company announced the creation of a blockchain-as-a-service offering last October, but yesterday said it will now be generally available for customers. It allows users to instantly set up a fully-managed blockchain to automate processes over an electronic ledger, such as tracking goods or handling financial transactions. Oracle joins the likes of IBM, SAP, and Microsoft who offer similar platforms. –COMPUTER WORLD

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4. More than 90 comments have been submitted to the US Securities Exchange Commission (SEC) regarding bitcoin ETF regulations. The comments came in the past three weeks after the SEC asked for feedback following a request from Cboe Global Markets to change the listing rules for cryptocurrency-backed ETFs. That is 10 times the comments the SEC received with it asked for opinions on another bitcoin ETF listing a few months ago. -BLOOMBERG

90 comments submitted to SEC about ETF rules
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5. A study revealed that 75 percent of cryptocurrency holders would use their coins to directly purchase goods. Consumers would like to spend cryptocurrencies in traditional businesses, according to CreditCoin. Strangely, the age of the buyer did not seem to matter: 84 percent of baby boomers surveyed said they would welcome the opportunity, one of the highest percentages among age groups. -BITCOINIST

75% of bitcoin holders want to use bitcoin to buy stuff
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6. The Financial Stability Board (FSB), an international financial watchdog, said bitcoin does not currently pose a risk to the global financial system. The FSB, which has members from the G20 major economies, is gathering more data on exposure to cryptocurrency in an effort to quantify the larger impact of the technology. However, the organization said it has enough information to determine the cryptocurrencies do not provide a “systematic risk” to global finances. -FORBES

7. The number of Chinese companies with the word “blockchain” in their names has increased six times in the past year. In the past six months, there were more than 3,000 Chinese firms with the word “qukulian” (the Chinese translation for blockchain) in their title as compared to just more than 500 last year. –COIN TELEGRAPH

8. Forbes takes a look at 10 industries that blockchain could disrupt. The top three are likely no surprise: Banking, healthcare, and politics. -FORBES

9. The director of PricewaterhouseCoopers in Australia has quit to coin a cryptocurrency exchange. Ben Ingram will join bitcoin.com.au as its newest CEO. -CCN

10. One analyst believes bitcoin and litecoin will surge significantly. While the analyst did not give an exact prediction for bitcoin, he believes litecoin could hit $600 per coin. –GLOBAL COIN REPORT

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From the Forums

Shark Tank’s Kevin O’Leary believes in ethereum.

Some clarification on a Litecoin Foundation partnership.

Discussing Charlie Lee and bitcoin.

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