Rebound / Coinbase Complaints / Tether / Airport ATM

Subscribe | View in browser Here are today's ten most important Bitcoin stories, efficiently ranked & summarized by smart humans, not algorithms: $BTC (12:40 p.m. EST): $6,729.57 (-0.92%) // 90-day high: $11,849.50 // 90-day low: $6,247.06/ / More… $BCH (12:40 p.m. EST): $874.85 (-2.31%) // 90-day high: $1,786.80// 90-day low: $608.37 // More… $ETH (12:41 p.m. EST): $529.36 (-1.57%) // 90-day high: $831.65 // 90-day low: $365.43 // More… $LTC (12:41 p.m. EST): $96.90 (-1.62%) // 90-day high: $251.03 // 90-day low: $93.45 // More… $XRP (12:41 p.m. EST): $0.53 (-1.55%) // 90-day high: $1.20 // 90-day low: $0.47 // More… Here are the 10 most important stories about bitcoin and cryptocurrencies today       1. The price of bitcoin quickly rebounded from the news that a South Korean exchange had been hacked. After Bithump confirmed that $32 million was stolen from its exchange on Wednesday, the price of bitcoin fell about 5 percent. The coin, though, recouped those losses only a few hours later. The rebound came, in part, because of Bithump’s quick reactions, two analysts told CNBC. The exchange quickly froze all accounts and paid back investor losses. -CNBC       Buy and sell cool domain names BrandBucket is ecommerce for business naming, featuring thousands of names curated by branding experts. Connecting people who have great domain names with people who need them, BrandBucket brings trust and transparency to domain name transactions. For an ad-free experience, upgrade to Inside Premium       2. Coinbase has been named in at least 115 complaints sent to the Securities and Exchange Commission and the California Department of Business Oversight. Users have accused the site of withholding access to accounts, misplacing large amounts of money, and lacking customer service. Most of the comments tell a similar story: Coinbase lost or misplaced the customer’s money. When the customer attempted to contact Coinbase they were unable to have the matter resolved, or even reach a customer service representative despite multiple attempts. -MASHABLE       3. A large segment of the crypto currency views a new report from Tether with skepticism. The digital coin released a report from a law firm earlier this week that insisted it has backed its $2.6 billion in tokens with traditional currency. Tether’s identity is tied to the belief that its currency is backed by other currency – unlike bitcoin and ethereum. That makes the token, in theory, more of a tool to move funds as opposed to an investment. Critics were quick to poke holes in the report that, if untrue, could mean Tether’s prices are inflated. -COINDESK       4. Amsterdam’s airport has installed a cryptocurrency ATM that lets passengers convert euros to bitcoin or ethereum. The ATM allows travelers leaving the region to get value for their currency before leaving without the typical conversion fees that plague currency conversion. The ATM is being used on a six-month trial. The airport is the first in Europe to install such a machine, but others around the world have tried introducing crypto payments, including Australia’s Brisbane airport. -CCN       5. More than one million people signed up to trade cryptocurrencies on Robinhood in the days after the feature’s release. Co-CEO Vlad Tenev recently said that the influx of crypto users has led to more investments throughout the Robinhood ecosystem. He said cryptocurrency trades have remained strong even as the price of bitcoin declined. His goal is to provide a platform that focuses on stability and reliability, avoiding the downtime that has plagued some crypto exchanges. -COINDESK       6. The House Committee on Ethics will require lawmakers to disclose cryptocurrency holdings that exceed a certain amount. Members of the House must now disclose holdings of more than $1,000 and record any transactions that exceed $1,000 within 45 days of the purchase or sale of a digital coin. The committee also encouraged any member of the House considering taking part in an ICO to make it known before they do so. –MARKET WATCH       7. The Chinese Academy of Sciences, China’s federal science institution, will take part in a new research project around blockchain. The academy has established a new lab that has been launched in collaboration with blockchain startup Tai Cloud Corp. It will focus on “the relationship between blockchain technology and mathematics.” -COINDESK 8. Zcash and Stellar Lumens were added to BitcoinIRA’s retirement platform. The coins now join major cryptocurrencies bitcoin, ethereum, and ripple, as investment options for those that want to place digital coins in a retirement account. –AMB CRYPTO 9. Litecoin founder Charlie Lee weighs in on the Bithump hack. He argues that the hack does not change the fundamentals of bitcoin. –COIN TELEGRAPH 10. Bank of America owns about 50 blockchain patents. The reason is simple: The bank doesn’t want to get left behind. -FORTUNE       From the Forums Bitcoin vs. regulators (in video form). Propaganda. Discussing Charlie Lee’s appearance on CNBC.       Brains and Chains: the AI & Blockchain Conference Join us at the AI and Blockchain Conference to explore these two cutting-edge technological trends. Top minds in AI and Blockchain will discuss how they can be utilized to create opportunities for innovative solutions. (June 28th, New York City). Register today

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#65: The EOS launch is still a chaotic mess

Reinventing the wheel

Chain Letter Blockchains, cryptocurrencies, and why they matter 06.21: Reinventing the wheel Happy Thursday! Today’s Chain Letter will be an extra helping of news and analysis instead of the customary deep dive. And next week we will be taking a break, so don’t be alarmed when you don’t hear from us. We’ll return the week of July 2 with our regularly scheduled programming. Update: EOS is still a sh*tshow. Last week we told you about how the launch of EOS’s new blockchain didn’t quite go as planned. Unfortunately for EOS token holders, things haven’t gotten much better since. The drama du jour revolves around a decision by the 21 recently-elected “block producers” (EOS’s version of cryptocurrency miners) to freeze seven accounts that have supposedly fallen victim to a phishing scam in which hackers stole token holders’ private keys. The unilateral decision has drawn cries of “Centralized!” from all across the crypto world. It’s also set off what’s been called a “constitutional crisis” for the currency. But that’s not quite right—EOS’s governing constitution hasn’t been ratified yet! Without a founding document in place, things unraveled when a group of block producers asked the “EOS Core Arbitration Forum,” a body that is supposed to function as the network’s judicial branch, to freeze the compromised accounts. The forum initially refused, saying it lacked the authority under the interim constitution. So the block producers went ahead and froze the accounts themselves. So much for decentralization. Tethered to the truth? Tether, the world’s most popular—and controversial—stablecoin, is pushing back against speculation that it might not be completely backed up by US dollars. And, oh yes, the company also took exception to being accused of being instrumental in a large-scale Bitcoin price manipulation scheme. Yesterday, the Tether team put out a “transparency update” that said a Washington, DC law firm co-founded by former FBI director Louis Freeh can attest that the number of Tether crypto-tokens in circulation indeed matches that of real dollars held by the company in reserve. According to the report, Tether approached the firm this year and asked it to “review bank account documentation and to perform a randomized inspection of the number of Tethers in circulation and the corresponding currency reserves.” Tether says firm found that the amount of real dollars in the bank “is nearly equal” to the $2.54 billion worth of Tether coins out there. The report could calm the waters a bit, but it’s not a proper audit, so it won’t quiet the skeptics. Meanwhile, the company’s CEO denied to Bloomberg that any manipulation has occurred, and its general counsel was quoted in the same piece as claiming that “an audit cannot be obtained” because the cryptocurrency market is too new to the big accounting firms. The saga continues. Do you have a solution to one of the world’s most pressing problems? MIT Solve announced more than $650,000 in potential funding towards selected Solver teams setting out to create solutions for its four 2018 Global Challenges: Work of the Future, Frontlines of Health, Coastal Communities, and Teachers & Educators—and anyone, anywhere can apply. Submit your application by July 1. Loose Change Fill your pockets with these newsy tidbits. • Hackers have stolen more than $31 million worth of cryptocurrency from the popular South Korean exchange Bithumb. (Reuters) • Members of the US House of Representatives have been advised that they must disclose any cryptocurrency holdings worth more than $1,000. (Bloomberg) • A cryptocurrency exchange in the UK plans to launch a product for trading Litecoin futures. (CoinDesk) • Quebec will raise electricity prices for crypto-miners while it tries to figure out how to deal with exploding energy demands from the industry. (Bloomberg) • The musician Akon says he’s planning to build his own city in Senegal where a new cryptocurrency, Akoin, will be the medium of exchange. (The Verge) The Money Quote “We’re making history. This Warhol is the first artwork of many more to come.” —Marcelo García Casil, chief executive of Maecenas Fine Art. The company is helping the owner of a 1980 silkscreen by Andy Warhol use cryptocurrency to sell shares in the piece without giving up more than 49 percent of its ownership. (Quartz) We hope you enjoyed today's tour of what's new in the world of blockchains and cryptocurrencies. Send us some feedback, or follow me @mike_orcutt. Know someone who might enjoy reading Chain Letter? Was this forwarded to you, and you'd like to see more? Discover the emerging tech that will change the world. Attend EmTech 2018 September 11-14, MIT Media Lab Cambridge, MA View this in a browser You received this newsletter because you subscribed with the email address: contacto1745.send-mail@blogger.com edit preferences   |   unsubscribe   |   follow us      MIT Technology Review One Main Street Cambridge, MA 02142