Friday, December 7, 2018

Bitcoin Continues Fall / Bitcoin SV / $1 Million Bet

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$BTC (1:20 p.m. EST): $3,304.31 (-9.53%) // 90-day high: $7,382.19 // 90-day low: $3,286.14 / / More

$BCH ABC (1:20 p.m. EST): $99.59 (-13.82%) // 90-day high: $703.41// 90-day low: $99.47 // More

$ETH (1:21 p.m. EST): $85.14 (-12.10%) // 90-day high: $365.71 // 90-day low: $85.11 // More

$LTC (1:21 p.m. EST): $23.31 (-16.90%) // 90-day high: $74.80 // 90-day low: $22.09 // More

$XRP (1:21 p.m. EST): $0.29 (-9.43%) // 90-day high: $0.61 // 90-day low: $0.26 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Bitcoin has plunged even further. The price of bitcoin dropped below $3,300 on Friday, hitting a 15-month low. The drop has been especially quick as bitcoin traded at almost double the price this time last month. The coin had an especially hard week, dropping 20 percent in the just the past five days alone. –CNN

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2. The price of Bitcoin SV rallied 32.5 percent early Friday as the rest of the cryptocurrency market remained in the red. Experts, though, have been quick to say the price increase is not the sign of a full-fledged rally. The jump coincided with an announcement from BTC.com that it would add replay protection support for the coin. That allows BSV holders to claim their tokens without being exposed to a replay attack scenario. –CCN

Bitcoin SV price jumps 32 percent
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3. Anthony Pompliano, the co-founder of Morgan Creek Digital, said he would bet $1 million that cryptocurrencies would outperform the S&P 500 over the next 10 years. The bet may seem odd considering cryptocurrencies have lost more than $700 billion in value this year alone. The firm has branded the challenge "Buffet Bet 2.0" in reference to Warren Buffet's famous $1 million that the S&P 500 would outperform a selection of hedge funds. –FORBES

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4. Even with bitcoin's drop this year, A.T. Kearney believes bitcoin will make up two-thirds of the cryptocurrency market next year. The management-consulting firm believes that altcoins, which have in many ways struggled worse than bitcoin this year, will continue to lose their luster. Bitcoin made up less than half of the crypto market as of last spring, but has seen its market dominance increase as the months go past. –NEWS BTC

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5. A finance professor at Santa Clara University said bitcoin is close to becoming worthless. –YAHOO

6. Counterpoint: Bitcoin, by design, could never become worthless, a cryptocurrency expert argues. –MARKET WATCH

7. Switzerland's postal service and a government-owned telecommunications provider will work together to create blockchain applications. –COINGEEK

8. There was a flash crash of ethereum on CoinbasePro. –CRYPTOVEST

9. HTC's Exodus 1 phone adds support for litecoin. –AMB CRYPTO

10. Mastercard has filed a patent that will add more anonymity to blockchain transactions. –COIN TELEGRAPH

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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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