Friday, September 7, 2018

Slide Continues / Coinbase ETF / Altcoins

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$BTC (12:53 p.m. EST): $6,485.90 (0.40%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More

$BCH (12:54 p.m. EST): $504.87 (-0.98%) // 90-day high: $1,663.91// 90-day low: $504.87 // More

$ETH (12:54 p.m. EST): $219.97 (-2.86%) // 90-day high: $790.72 // 90-day low: $219.97 // More

$LTC (12:55 p.m. EST): $56.62 (1.39%) // 90-day high: $162.87 // 90-day low: $52.78 // More

$XRP (12:55 p.m. EST): $0.29 (0.29%) // 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. Bitcoin's slide continued into Friday, as the coin has now lost 20 percent of its value in just two days. Other major coins, including ethereum, litecoin, and ripple, all suffered large drops as well. The drops coincided with a report that investment bank Goldman Sachs may be dropping plans to launch a crypto trading desk. Add this to the recent rejection of nine bitcoin-related ETFs, and the cryptocurrency market has had its share of bad news over the past two weeks. –CNN

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Bitcoin's price slide continued
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2. Coinbase will reportedly explore creating a bitcoin-related ETF. The cryptocurrency exchange has been in talks with BlockRock, the world's largest global investment management firm. The US Securities and Exchange Commission has blocked previous ETF proposals, claiming that the price of bitcoin is subject to manipulation. While there were no details of what a Coinbase ETF would look like, the company would have to find a way to quell the SEC's fears – something numerous other firms have failed to do to date. –NEWS BTC

Coinbase has reportedly explored creating an ETF
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3. Altcoins have been hit much harder than bitcoin in recent days. The bitcoin dominance index has reached 55 percent, its highest point since December of last year. Even as bitcoin has lost value, altcoins have fallen even harder, as the index has quickly shifted from 51 percent to 55 percent in just two days. There is fear that bitcoin's fall is not over, as if it falls too far below $7,000 then it may not stop dropping until it passes $6,000 per coin. –CCN

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4. Binance CEO Zhao Changpeng said he has no plans to hold an IPO. A report from Sludgefeed suggested that Binance's recent hiring of a CFO meant it was seeking an IPO. Binance currently brings in about $200 million per quarter in profits, making the need for additional funding – at least, immediately – unlikely. –BITCOINIST

Binance has no plans to hold an IPO
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5. ConsenSys has partnered with Coursera, an online education platform, to offer a class on blockchain. The course will look at use cases for blockchain and its potential impact on different industries. –COIN TELEGRAPH

6. Uzbekistan has created a state blockchain develop fund called "Digital Trust." The fund will look for ways to integrate blockchain into government projects, including healthcare and education. –COIN TELEGRAPH

7. A columnist at Entrepreneur Magazine is not a fan of bitcoin. He goes as far to call it the "scam of the century" that is taking tech companies on a wild ride. –ENTREPRENUER

8. The lightning network has made bitcoin processing possible for more than 4,000 merchants through CoinGate. Lightning transactions are faster and cheaper than traditional crypto transactions, making them ideal for day-to-day transactions. –DAILY HODL

9. Britain's first blockchain-enabled co-working spaces features very little blockchain. The Financial Times visited Primalbase's new office in London and saw little use of blockchain, or crypto. –FINANCIAL TIMES

10. Here are 10 predictions for blockchain from technology experts. Some are expected, while others are a little more ambitious. –FORBES

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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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