Friday, December 21, 2018

Pump and Dump / ConsenSys / Charlie Lee / Bitcoin Cash

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Note: Inside Bitcoin will not be publishing its daily newsletter next week, in observance of the holiday season, but keep an eye out for our special year-end recap of all the 2018 news we think you should know about. We'll be back in the new year! 

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$BTC (1:08 p.m. EST): $3,983.29 (-3.43%) // 90-day high: $7,382.19 // 90-day low: $3,286.14 / / More

$BCH ABC (1:08 p.m. EST): $178.88 (-3.21%) // 90-day high: $703.41// 90-day low: $80.95 // More

$ETH (1:09 p.m. EST): $110.29 (-4.29%) // 90-day high: $365.71 // 90-day low: $85.11 // More

$LTC (1:09 p.m. EST): $31.24 (-4.18%) // 90-day high: $74.80 // 90-day low: $22.09 // More

$XRP (1:09 p.m. EST): $0.36 (-3.56%) // 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. Researchers identified 4,818 pump and dump schemes involving cryptocurrencies. In a newly published paper, the researchers highlighted 3,767 different pump signals on Telegram and another 1,051 on Discord during a six-month period earlier this year. The schemes promoted more than 300 cryptocurrencies, including bitcoin. –ETHEREUM WORLD NEWS

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2. ConsenSys, the ethereum-focused startup incubator, intends to spin off most of its companies as it moves to drastically cut its workforce. The company's incubator houses 36 startups with teams ranging from 5 to 50 employees. By spinning the companies off on their own, Consensys could let go as many as 50 to 60 percent of its 1,200-person workforce. –THE VERGE

ConsenSys to spin off companies, workforce reduction expected
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3. The crypto community largely still resents litecoin founder Charlie Lee for his decision to sell his cryptocurrency at the height of its price. It has been about a year since Lee sold his stake in litecoin, which has since lost about 90 percent of its value. He said at the time it was to prevent a "conflict of interest." "People lose money and they want someone to blame," Lee said in an interview Tuesday. "And they think for some reason I had inside information, and that's silly. At the time when I sold, everyone thought it would go to $1,000." –BLOOMBERG

Crypto community resents Lee for sale
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4. The price of Bitcoin Cash ABC has nearly tripled in the past week. While the recovery from about $80 per coin to more than $225 is impressive, some in the industry are not convinced it is more than a dead cat bounce. After all, even with the latest jump in price Bitcoin Cash ABC is down more than 95 percent for the year. –CRYPTOVEST

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5. Bitcoin's terrible performance in 2018 does not bode well for 2019. –ENGADGET

6. Fundstart's Tom Lee will now long off bitcoin predictions. –BLOOMBERG

7. Computer World offers five predictions for blockchain in 2019. –COMPUTER WORLD

8. Wyoming's Teton County will create a blockchain-based records keeping system. –CASPER STAR TRIBUNE

9. Some wealth managers are buying crypto while advising customers not to. –THE DAILY HODL

10. Collectibles will be an introduction for many to blockchain. –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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