David Marcus / Saudi Arabia / Scammers / Turkey

Subscribe | View in browser Here are today's ten most important Bitcoin stories, efficiently ranked & summarized by smart humans, not algorithms: $BTC (1:35 p.m. EST): $6,227.31 (-1.79%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More… $BCH (1:35 p.m. EST): $536.44 (-6.65%) // 90-day high: $1,663.91// 90-day low: $599.46 // More… $ETH (1:35 p.m. EST): $290.73 (-10.07%) // 90-day high: $790.72 // 90-day low: $290.75 // More… $LTC (1:36 p.m. EST): $56.78 (-5.00%) // 90-day high: $162.87 // 90-day low: $56.78 // More… $XRP (1:36 p.m. EST): $0.29 (-4.69%) // 90-day high: $0.86 // 90-day low: $0.22 // More… Here are the 10 most important stories about bitcoin and cryptocurrencies today       1. Facebook's David Marcus has left the board of Coinbase. The move raises speculation that Facebook's blockchain project, which Marcus currently leads, has progressed. Marcus joined Coinbase's board in December of 2017 and said he decision to resign was to avoid the appearance of a conflict of interest. While little is known about Facebook's blockchain project, there is speculation that the social network wants to create its own payments network. –BUSINESS INSIDER       Trade smarter with Quadency: The future of crypto asset investing Sign up Free for early acces Quadency is a unified crypto asset trading platform for both active traders and long term investors. Say goodbye to logging in and out of exchange accounts and missed opportunities with a holistic, real-time picture of your portfolio AND advanced trading features built right in. For an ad-free experience, upgrade to Inside Premium       2. Saudi Arabian officials have issued a statement reaffirming the illegality of bitcoin and other cryptocurrencies. The announcement comes after a number of web sites and social media accounts began promoting cryptocurrencies in the country. Saudi Arabia's Capital Market Authority said that none of these web sites or social media accounts are authorized by government officials and have been providing false information. The authority went on to warn citizens about the volatility of the cryptocurrency market and the potential for scams. –ARABIAN BUSINESS       3. Free "ETH Giveaway" scams make between $50,000 and $100,000 per day. That number comes from a scammer who Cryptocurrency evangelist and YouTuber Adam Guerbuenz claims to have interviewed. Guerbuenz came across one of the scams and sent the account some questions. The process for scammers is fairly straightforward once the necessary bots are set up. "Well, the process from generating accounts, to tweeting to rotating ETH wallet address is all done automatic by our bots," the scammer said. "The only manual process is cashing out." -BITCOINIST       4. Cryptocurrency mining has become a popular activity in college dorms. Students use both the school's power and connectivity to mine the coins and then keep the profits. Universities have begun to create policies against crypto mining because of the electricity costs it can bring, along with concerns about overheating small dorm rooms that lack adequate cooling. –NEWS BTC       5. The Turkish Lira has lost half its value since January, leading to increased use of bitcoin and other cryptocurrencies in the country. The Lira recently slid to all-time lows against the U.S. dollar over a raft of geopolitical factors. Volumes at Turkish bitcoin exchanges have jumped 150 percent in the last week alone, as interest in the cryptocurrency has also increased. –COIN TELEGRAPH       6. A 22-year-old Finnish man was scammed out of $24 million worth of cryptocurrencies. Authorities said the victim, Aarni Otava Saarimaa, became convinced to invest in shares of three companies, including a casino. He met with a group of men pretending to be Thai businessmen. While the story gets more complex, Saarimaa sent them 5,500 bitcoins only to see them disappear. The money was liquefied and distributed to seven bank accounts. The case is still under investigation. -MASHABLE 7. An analyst believes bitcoin could fall to $4,000 per coin in the coming weeks. The drop could come as investors have become fixated on government approval of an ETF, something that may not come anytime soon. -FORBES 8. Ethereum co-founder Vitalik Buterin called Zcash "cool." Buterin's comments serve as a validation for Zcash, which has been largely praised in the cryptocurrency community for its privacy features. –ETHEREUM WORLD NEWS 9. Is a $1 trillion market cap in crypto's future? Maybe, but a number of things must happen first. -BITCOINIST 10. Bitcoin investing has created tax problems for hedge funds. The IRS has said that it will take a harder stance on crypto-enforcement in the coming year, as well. -BLOOMBERG       From the Forums DutchX is paving the road towards a decentralized exchange. Litecoin is bitcoin's sidechain. Censorship.       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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