Thursday, August 16, 2018

Suicide Prevention / David Schwartz / Lolli / ICOs

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

$BTC (1:33 p.m. EST): $6,437.06 (-1.94%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More

$BCH (1:33 p.m. EST): $531.87 (-0.50%) // 90-day high: $1,663.91// 90-day low: $599.46 // More

$ETH (1:33 p.m. EST): $293.40 (-2.93%) // 90-day high: $790.72 // 90-day low: $290.75 // More

$LTC (1:34 p.m. EST): $56.50 (-3.19%) // 90-day high: $162.87 // 90-day low: $56.78 // More

$XRP (1:34 p.m. EST): $0.29 (0.36%) // 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. One of the most popular crypto-related posts Tuesday on Reddit was information for suicide prevention hotlines. The posting came as the top 20 largest cryptocurrencies by market cap fell between 4 and 10 percent for the day. Coins rallied a bit on Wednesday, but low volumes had some experts feeling the correction was not complete. -YAHOO

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2. Before there was Satoshi Nakamoto, there was David Schwartz. Now Ripple's CTO, Schwartz filed a patent in 1988 for a "multilevel distributed computer system" that would preferably run on personal computers. The technology was designed to leverage the combined processing power of numerous devices. Schwartz and his team were able to run some experiments on the technology, but it never went much further. The Next Web goes deeper with Schwartz to discuss the technology, why it ultimately failed, and how it comes to blockchain. –THE NEXT WEB

Ripple's Schwartz patented early blockchain
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3. Lolli will officially launch in the next few days, an application that rewards online shoppers with bitcoin. Users will download a browser extension and then proceed to checkout with a Lolli retail partner. Retails will pay Lolli for the referral and the application will convert that part of that payment to customers as a reward for shopping. Customers can store bitcoin in any virtual wallet. –CHARLOTTE OBSERVER

App to reward shoppers with bitcoin
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4. ICOs have been blamed, at least in part, for ethereum's drop in price. Investors who previously purchased ether to invest in ICOs are now avoiding the market. As a result, they are no longer purchasing digital tokens. Considering the majority of ICO's use ERC-20 tokens, the drop in ether volume has been significant. –ETHEREUM WORLD NEWS

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5. Prime Trust, a small financial institution based in Nevada, will enter the crypto custody business. The company has been offering cold storage for bitcoin since July and plans to announce next week that it will hold any coin issued on the ethereum blockchain under the ERC-20 standard. While this is a highly competitive market, new companies continue to enter as demand continues to grow. Institutional investors want to invest in bitcoin but do not want to bother with private keys and digital wallets. -COINDESK

Prime Trust entering crypto custody business
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6. A $224 million lawsuit has been brought against AT&T, accusing the company of losing $24 million in cryptocurrencies. The complaint alleges that AT&T provided a hacker with the private phone number of a customer following a first hack. The attacker was then able to hack the victim a second time, ultimately taking the cryptocurrency. -BITCOINIST

7. CNBC brought together 10 crypto experts to discuss bitcoin's slide. The results were mixed: Some said the drop is merely growing pains, while others feared bitcoin has been part of a speculative bubble. -CNBC

8. Bitcoin miners continue to trudge ahead, even though bitcoin's price drop squeezes profits. As Bloomberg shows, it is the small mining operations being hit hardest. -BLOOMBERG

9. Here's a good interview with ethereum co-founder Vitalik Buterin. He tells the story of how Google tried to hire him. -COINSPEAKER

10. A non-profit wants to use crypto-voting to clean up the election process. It is a radical project, but one the founder believes could eliminate the need for governments altogether. -WIRED

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From the Forums

The smart money backs bitcoin cash.

Owning bitcoin for one week.

ETN is listed on NASDAQ.

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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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