Monday, August 20, 2018

Blockchain / Venezuela / Gemini / Poker

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

$BTC (1:44 p.m. EST): $6,490.08 (1.39%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More

$BCH (1:44 p.m. EST): $547.66 (-2.58%) // 90-day high: $1,663.91// 90-day low: $599.46 // More

$ETH (1:45 p.m. EST): $291.65 (-2.00%) // 90-day high: $790.72 // 90-day low: $290.75 // More

$LTC (1:45 p.m. EST): $57.13 (-0.48%) // 90-day high: $162.87 // 90-day low: $56.78 // More

$XRP (1:45 p.m. EST): $0.33 (-0.79%) // 90-day high: $0.86 // 90-day low: $0.22 // More

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

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1. Cryptocurrency wallet Blockchain said it had added up to 50,000 users per day despite dropping bitcoin prices. CEO Peter Smith tweeted the number in response to a Bloomberg interview where Coinbase CEO Brian Armstrong said his company added 50,000 new accounts during bitcoin's boom last year. Smith's tweet insinuated that Blockchain adds accounts of people that want to use crypto, opposed to speculators. -CCN

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2. Rapid inflation in Venezuela continues. The price of one bitcoin cost 44 billion bolivars on Friday, but jumping to 59 billion bolivars on Saturday. Citizens have turned more and more to bitcoin as the country's annual inflation tops 100,000 percent. At current rates, $1 can be exchanged for 9.2 million bolivars. -BITCOINIST

Inflation in Venezuela continues to drive up bitcoin
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3. Ethereum co-founder Joseph Lubin does not believe the latest cryptocurrency slump will hurt long-term growth. Lubin said the collapse in prices has always been present in the blockchain ecosystem. He added that later the price bubbles will seem like "little pimples on a chart" because growth will be exponential. -CCN

Lubin believes slump will not hurt crypto longterm
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4. There is growing speculation that Gemini will soon add litecoin support. The exchange tweeted that its vice president of engineering, Eric Winer, will speak at the Litecoin Foundation's Litecoin Summit on September 14. There is belief that Winer would not speak at the event if Gemini was at least not exploring litecoin. -CRYPTORECORDER

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5. Crypto Poker Club has used blockchain to try to bring integrity to online poker. The site has used a decentralized and fully anonymous structure to improve data protection. It also used blockchain to try to correct the pitfalls of other poker sites, including collusion, cheating, and the randomness of cards. The site also uses cryptocurrency to payout players, allowing for same day payouts in an industry where payments can typically take days or weeks. -BITCOINIST

Crypto Poker Club using blockchain to fix online poker
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6. UPS has filed for a new patent that uses blockchain as part of a distributed system for sending packages worldwide. The concept involves storing data within a distributed ledger network, including information about a package's destination, its movement, and transportation plans for shipment units. UPS has previously suggested that it could use multiple distributed networks in the shipping process. -COINDESK

7. Politicians have an increasing interest in bitcoin. However, attempts to classify which political parties favor bitcoin the most fall short. -BITCOINIST

8. Lou Kerner, co-founder of CryptoOracle, believes bitcoin is better than gold in a number of areas. He believes people that store value in gold will one day switch completely to bitcoin. –ETHEREUM WORLD NEWS

9. Here's is a longer look at Playboy's lawsuit against Global Blockchain Technologies. Most notable was Playboy's claim that Global Blockchain failed to integrate the Vice Industry Token (VIT). –COIN TELEGRAPH

10. Forbes takes a look at 26 ways blockchain will transform education. One way could be to put transcripts on the blockchain, validating their legitimacy. -FORBES

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From the Forums

An intro cryptocurrencies.

A member of congress owns litecoin.

A crypto community member arrested.

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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