Tuesday, September 4, 2018

Stress Test / Silk Road Funds / Sahara / K-Pop

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

$BTC (1:26 p.m. EST): $7,373.03 (1.35%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More

$BCH (1:26 p.m. EST): $636.62 (1.74%) // 90-day high: $1,663.91// 90-day low: $513.11 // More

$ETH (1:26 p.m. EST): $288.77 (-0.14%) // 90-day high: $790.72 // 90-day low: $242.75 // More

$LTC (1:27 p.m. EST): $68.40 (5.43%) // 90-day high: $162.87 // 90-day low: $52.78 // More

$XRP (1:27 p.m. EST): $0.33 (-0.48%) // 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. The price of bitcoin cash jumped more than 14 percent over the weekend. The increase coincided with a network stress test where the bitcoin cash community encouraged businesses and developers to deliberately carry out multiple activities at once. The network experienced more than 2.1 million transactions on Saturday alone, making up 34.6 percent of all crypto activity over a 24-hour span. –CCN

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2. About $100 million in bitcoin was transferred to Bitfinex, Binance and BitMEX on Monday. A Reddit user, Sick Slick, first point out the transaction. The original account from which the money was transferred is believed to be linked to one of the Silk Road accounts. The bitcoins have been moved in portions to various accounts to prevent being traced. These wallets have been active for the past four days after being dormant for more than four years. –AMB CRYPTO

$100 million transferred from Silk Road accounts
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3. It has not been a great year for bitcoin's price but the coin has still outperformed three national currencies. Bitcoin has outperformed the Venezuelan bolivar, Sudanese pound, and Argentine peso despite facing a steep decline since last December. The biggest difference, though, comes with the outlook of each coin. Experts believe bitcoin's price will recover based on past price corrections, while the outlook for the other three currencies remains murky at best. –NEWS BTC

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4. A company plans to power a cryptocurrency mining operation with a wind farm in the Sahara Desert. The company, named Soluna, will develop a 900MW wind farm power plant in Morocco which will be combined with the company's private computing facilities to power a blockchain-backed computing infrastructure. Soluma aims to build 36 megawatts of capacity by 2020 and expects to create the 900MW in the next five years. –CCN

Company plans to build mining rig in Sahara
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5. Z-POP Dream Project, a South Korea-based entertainment company, plans to use blockchain to find talent for a K-pop musical group. The company plans to use the ethereum blockchain to allow fans to vote for their favorite entertainers in award ceremonies and auditions. The project will help discover and nuture talent, along with empower fans to support the group. Z-POP plans to establish a "star creation" platform in 10 areas across southeast Asia to find talent. –CCN

K-Pop company to use ethereum to find new stars
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6. Google has added ethereum to its big data analytics platform BigQuery. The new service will allow users to create a Big Data window into ethereum. Users could previously use an API for commonly used functions, such as checking transaction status or wallet balances, it was not conducive to accesses all of the data stored on the ethereum blockchain. –COINDESK

7. Bitcoin's recent price swings have again raised doubts about its stability. The coin has seen its price move more than 10 percent in just a week. –FORBES

8. An airline cabin-crew member took a $100,000 loan at the end of last year to buy cryptocurrency. It has not gone well. –BITCOINIST

9. For your Spotify playlist, here are 10 popular songs that mention bitcoin. Some come from popular artists like Eminem – others are, umm, a little less well known. –BITCOIN.COM

10. Former PayPal CEO Bill Harris called bitcoin a cult. He added that bitcoin will one day end up near zero because "there is just no value there." –CCN

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From the Forums

Blockmagic will be released in alpha soon.

A map of countries where bitcoin is legal.

What is going on with EEA?

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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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