Cryptocurrency News Now!: Silk Road wallet active?

Tuesday, September 4, 2018

Silk Road wallet active?

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QUOTE OF THE DAY

“Cryptography shifts the balance of power from those with a monopoly on violence to those who comprehend mathematics and security design.”

- Jacob Applebaum

MARKET

COIN	PRICE	24H

BTC	$7,358.41844	+1.27%

ETH	$288.729974	-0.26%

XRP	$0.337218	-0.24%

BCH	$640.520833	+1.84%

EOS	$6.561562	+1.34%

*Information as of 9:30 AM EST

NEWS

Bitcoin Cash walked the walk

110,000 Bitcoin Wallet Awakens After Remaining Dormant for 4 Years

TRACKING THE ORIGINS

Reddit user sick_silk revealed a full investigation yesterday concerning the movement of a 110,000 Bitcoin wallet that has remained dormant since 2014
According to the investigation, sick_silk believes this wallet was connected with Silk Road and Ross Ulbricht due to a 2013 post on a Bitcoin forum
If true, the wallet would now contain over $800 million worth of Bitcoin, however, the coins have moved

RECORDED MOVEMENTS

To make tracking the Bitcoin harder, the owner of the origin wallet split the coins and sent the coins to two different wallets and continued doing this until all wallets had only 100 Bitcoin in each
To understand the depth of the wallet movements, sick_slick visualized the data on a graph that can be seen here
In this graph, recent transactions under one-month-old are red, transactions within the year are blue, and all other transactions are green

SELLING SPREE

Now, Bitcoins which started at the origin wallet are being sent to Bitfinex, Binance, and BitMEX
So far, sick_slick has tracked 15,593 Bitcoin that have been sent to the exchanges with 11,114 being sent to Bitfinex, 4,421 being sent to Binance, and 210 being sent to BitMEX
If this wallet owner is finally selling off their Bitcoins, it could provide strong selling pressure on the market
So far, however, Bitcoin rallied since the time of sick_silk's Reddit post as the digital currency jumped above $7,300 despite fears of a possible mass sell-off

TECH

Google Adds Ethereum as a Dataset to Big Data Analytics Platform

BIGQUERY

Google announced via its own blog post that it is has added Ethereum's blockchain as a dataset for its BigQuery platform
BigQuery is a feature of Google Cloud that can store and analyze petabyte-scale data

MAKING THE DATA ACCESSIBLE

Google's goal for the addition is to make the data stored on Ethereum's blockchain easily decipherable
There is an incomprehensible amount of data on Ethereum's blockchain and it is difficult for the average person to retrieve the information they are interested in
Now with Google's help, blockchain enthusiasts can easily parse through Ethereum's data

EXAMPLE QUERIES

Using Google's service, you can now easily see that CryptoKitties is by far the most popular ERC-21 smart contract:

This graph shows nodes that transact often with one another:

PREDICTION

Long Time Bitcoin Proponent Andreas Antonopoulos Says a Bitcoin ETF is Inevitable But We Shouldn't Get Too Excited

ETF COMING

Andreas Antonopoulos who has been a long time supporter of Bitcoin has recently said that a Bitcoin ETF is inevitable
The SEC has already denied many Bitcoin applications, but many of these were expected and experts seem to agree one will be approved during the next year
Antonopoulos acknowledges that the establishment of a Bitcoin ETF will have a positive impact on the price of the asset because it will make it more accessible to more investors, increasing the demand for BTC

NOT GOOD FOR THE MISSION

Antonopolous does think that a Bitcoin ETF is coming, but he is not looking forward to its approval
One reason is that he thinks that an ETF will make BTC more prone to price manipulation
Another reason why Antonopolous criticizes a potential ETF is that ETF investors will not have actual ownership of the BTC they are investing in

Antonopolous explains this predicament:

“ETFs fundamentally violates the underlying principle of peer-to-peer money, where each user is not operating through a custodian but has direct control of their money because they have direct control of their keys”.

INTERNATIONAL

China's Industrial and Commercial Bank Will Welcome Blockchain Technology

DIVING INTO BLOCKCHAIN

Reported by BiaNews, a chairman of the Industrial and Commercial Bank of China (ICBC) revealed the bank will focus on blockchain technology
Chairman Yi Huiman announced the bank will focus on finding ways to improve "smart banking" by using a multitude of technologies including artificial intelligence, internet of things, and blockchain
Further, ICBC is looking to use blockchain to secure data shared with third parties and to improve service in the financial ecosystem

BIGGEST BANK

ICBC is reportedly the largest bank in China with over 5,000 corporate and 530 million personal customers
In 2017, the bank was exploring blockchain when it announced it was examining the construction of “accelerated deployment in the field of financial technologies”
In the past the bank has filed blockchain-related patents to increase efficiency in its business and even launched a blockchain supply chain platform earlier this year

New to Cryptocurrency? 21CRYPTOS Magazine is Your Essential Guide.

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BREW BITS

Japanese crypto firm FXcoin recruited Deutsch Bank’s former foreign-exchange dealer, Yasuo Matsuda, as a senior strategist for the cryptocurrency startup.
Bitcoin's MACD histogram turned bullish for the first time since January.
Singapore-based investment company Temasek has officially denied involvement in the cryptocurrency mining giant Bitmain’s IPO.

TODAY IN CRYPTO

Holo (HOT)

AMA No. 16

Ask Matt Anything. Matt will cover a few updates before diving into your questions about Holochain, Holo, and more from the Holo-verse.

PROOF | SOURCE

QASH (QASH)

Liquid Platform Launch

Liquid rollout begins September 4. Quoinex and Qryptos merge and become http://Liquid.com.

PROOF | SOURCE

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LEARN THE LINGO

Smart Contract

noun

Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.

COIN OF THE DAY

Themis (GET)
Themis is a trusted blockchain infrastructure based on group hosting protocols that solves the problem of fair exchange with digital assets and helps build a new generation of trust networks.
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