Friday, July 27, 2018

Winklevoss ETF / Elon Musk / Altcoin Futures / Bitcoin.org

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

$BTC (12:44 p.m. EST): $8,203.34 (-0.07%) // 90-day high: $9,927.71 // 90-day low: $5,755.25/ / More

$BCH (12:44 p.m. EST): $823.73 (-1.07%) // 90-day high: $1,786.80// 90-day low: $608.37 // More

$ETH (12:44 p.m. EST): $468.88 (-1.57%) // 90-day high: $831.65 // 90-day low: $365.43 // More

$LTC (12:45 p.m. EST): $84.95 (-2.08%) // 90-day high: $251.03 // 90-day low: $73.12 // More

$XRP (12:45 p.m. EST): $0.45 (-0.58%) // 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. The US Securities and Exchange Commission (SEC) rejected a proposal from Cameron and Tyler Winklevoss to list shares in a bitcoin ETF. The rejection is the second for the Winklevoss twins, founders of the Gemini cryptocurrency exchanges. The brothers had a similar proposal declined last year. The SEC emphasized in its decision that the rejection is not about the value of bitcoin or blockchain technology, but over concern about fraud and price manipulation in the bitcoin market. The Winklevoss twins argued that their exchange was "uniquely resistant to manipulation." -CNBC

SEC rejects latest Winklevoss ETF effort
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2. Twitter has banned a number of accounts impersonating Elon Musk. These accounts tried to trick users with promises of sending them cryptocurrencies like bitcoin and ethereum. Anyone that tries to change their account's display name to Elon Musk will receive a message informing them that suspicious activity has taken place on their account. The movement to ban accounts pretending to be Musk started a few weeks ago when Musk actually praised bitcoin-scamming accounts in a tweet. –THE INDEPENDENT

Twitter bans fake Elon Musk accounts
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3. The Chicago Mercantile Exchange has no plans to introduce altcoin futures anytime soon. CEO Terry Duffy said the exchange is still evaluating and developing the best approach for bitcoin, adding that bitcoin futures "might have been the most controversial launch of a product." He added that altcoins priced are still seen as too volatile and new. He said he'll take a wait and see approach with adding any cryptocurrency products beyond bitcoin. –COIN TELEGRAPH

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4. There is a new battle over the ownership of bitcoin.org. The website was created by Satoshi Nakamoto and Martti Malmi, long before bitcoin was established, and ownership has changed hands numerous times since then. Cobra Bitcoin, the current owner, has come under criticism for outward support of bitcoin cash over bitcoin. There is an argument that the organization should sell the domain to a more pro-bitcoin entity for the good of the community. –BITCOIN.COM

The battle over bitcoin.org heats up
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5. Eleven blockchain startups and law firms will partner with Monax on a new project. The companies want to create a new legal service platform called "Agreements Network" that will allow lawyers to manage contracts, governance documents and leases through smart contracts. Casey Kohlman, the CEO of Monax, is also a lawyer. The goal is to create a system that can introduce legal transactions to the digital age. -SMARTEREUM

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6. Galaxy Digital, the crypto merchant bank founded by Michael Novogratz, lost $134 million in the first quarter. The majority of the loss came from trading as the price of bitcoin took a significant hit. The firm reported a net loss of $103.3 million on trading, with $13.5 million on digital assets and another $85.5 million on unrealized losses on those assets. -CNBC

Galaxy Digital loses $134 million
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7. This article compares ethereum and cardano, the two dominant dApp platforms. While the article does not decide which is better, it lays out an optimistic future for both. –COIN CENTRAL

8. Bitcoin cash will celebrate its first birthday on August 1. This piece takes a look at the history of bitcoin cash and the milestones it hit in its first year. –ETHEREUM WORLD NEWS

9. Some see blockchain as a savior for free speech. While blockchain is used primarily for financial transactions, its immutable status means it could be used to shepherd messages, and avoid censorship and surveillance. -FORTUNE

10. Here are the pros and cons of using blockchain in the art world. While the technology can improve technology there are questions about its future with dealers and auction houses. –FINANCIAL TIMES

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From the Forums

Discussing the Winklevoss ETF.

A bitcoin gif about the current market.

An altcoin meme.

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