Wednesday, August 15, 2018

📌 Crypto Conspiracy Theory, An Overview of Privacy Coins, and BTC > Lira

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 MUST READS 

Media Coverage of Bitcoin is Still a Total Disaster


Nic Carter, cofounder of Coinmetrics, is fed up with all the nonsense journalism of crypto and he's not afraid to show it. Here is an awesome line by line rebuttal to some of the more egregious claims from journalists who are either ignorant or unwilling to learn about cryptocurrencies during their reporting process.
 

The Periodic Table Of Cryptocurrencies


We have to give credit where credit is due. Invest In Blockchain created a beautiful graphic this week that we think simply sorts the top cryptocurrencies into their respective use cases. With all the cryptos out there, and the constant influx of new ones, it's hard to keep up.

What's the difference between ZenCash and Zcash? Should I prefer Bitcoin, Bitcoin Gold, or Bitcoin Cash?

...It's no small task, but hopefully this chart makes it a little easier.

The State of Blockchains Q2 2018: Brave New (Crypto) World


Forget what the price of your favorite cryptocurrency is for a second. Let's take a step back, ignore the markets, and realize that there is no need to worry. Underneath the veil of price movements, construction of a solid foundation is continuing to occur – here's a closer look.
 

📉 What's Eating Crypto? Blame Bitmex, Sh*tcoins and Opaque Valuation


Crypto asset valuations have certainly seen better days... But to be blunt, there's plenty of reasons why that's the case. Here's just a few from our friend Jonathan Cheesman.
 

 DEEP DIVE 

Has Bitmain Been Selling off Bitcoin for Bitcoin Cash Prior to IPO?


This week we've found some interesting rumblings surrounding the leak of Bitmain's pre-IPO investor pitch deck. For those interested, Bitmain – the worlds largest crypto miner AND supplier – looks to be strangely tied to the price of Bitcoin Cash (BCH) after perhaps one of the most botched trades of 2017.

Price manipulation accusations are spreading... as gigantic miners like Bitmain play a much bigger role in the markets than most people think. 🤔
 

📃 Binance Offers Sneak Peak at Latest Project: DEX


Binance, the world's largest crypto exchange, released a sneak peek into it's upcoming decentralized exchange (DEX). As a reminder, a DEX is a "platform to transfer and trade different crypto assets without a centralized operator."

So far, there are multiple DEXs currently operating, but most of the large ones have some form of centralization built in...

As you might remember, Ethereum creator, Vitalik Buterin, said not too long ago that he hopes "centralized exchanges go burn in hell." But it appears Binance (who has been near flawless) and their CEO Changpeng Zhao begs to differ, stating:

"There is no absolute decentralization. Projects with core teams still have centralization."
 

Mapping The Decentralized Financial System


Here's another great post by Token Economy exploring the exciting developments within the "decentralized financial system."

Max Bronstein compares the existing financial system... where we are today... and of course, where we are headed. Despite the lengthiness, this is a great read for those fairly new to the blockchain arena.
 

An Overview of Privacy Crypto Assets


In this comprehensive overview, Richard Chen of 1confirmation, covers the latest experimentation and research in four areas of the privacy landscape: 1) privacy coins, 2) smart contract privacy, 3) privacy infrastructure, and 4) privacy research.
 

The Two Views Of Crypto: Sound Money vs. Global Computer


Amongst those who believe crypto technology to be everlasting and important, there are two dominant viewpoints as to what crypto is actually all about. Enter, the Computerians vs. Fiscalites debate.

This post explores what each side believes in and how the two can ultimately work together. On the bright side, both sides deeply value the potential for crypto-networks to disintermediate the existing central powers. 🚂
 

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 REGULATORY FRONT 

🇹🇷 Turkey's Economic Woes May Lead to Increased Cryptocurrency Adoption


After President Donald Trump implemented tariffs on Turkey's aluminum and steel exports to the US last week, the Turkish Lira declined over 14% against USD.

As the lira tumbled though, the trading volume on some of Turkey's largest cryptocurrency exchanges, including Btcturk, Koinim, and Paribu surged by over 100%. Let's get those volumes pumping!

🇯🇲 Jamaica Stock Exchange to Trade Crypto Assets in 2018


The Jamaica Stock Exchange (JSE) will soon be giving investors the ability to attain cryptocurrencies as trade-able assets. The JSE said it has signed a memorandum of understanding (MoU) with the blockchain startup Blockstation who will in turn help create a new digital assets trading platform for the country.

Set to go live this year, which tokens will be listed on the platform is still unclear.

 

 CHART OF THE WEEK 

We wanted to switch things up a bit this week due to current price discovery/ sideways market conditions by not producing any risky trading signals. Instead, here's an exploration into what happens after the CBOE Bitcoin Futures Expiration. This chart shows that bitcoin (BTC) tends to recover after expiration. We'll be keeping our eye on this as a wave of futures contracts just closed today. 

Other Articles You May Enjoy

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

$BTC (12:13 p.m. EST): $6,465.66 (6.61%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More

$BCH (12:13 p.m. EST): $527.15 (8.51%) // 90-day high: $1,663.91// 90-day low: $599.46 // More

$ETH (12:13 p.m. EST): $295.77 (14.53%) // 90-day high: $790.72 // 90-day low: $290.75 // More

$LTC (12:14 p.m. EST): $57.60 (11.45%) // 90-day high: $162.87 // 90-day low: $56.78 // More

$XRP (12:14 p.m. EST): $0.29 (13.23%) // 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. Coinbase CEO Brian Armstrong estimated that only 10 percent of cryptocurrencies are used for purchases. "I think it will be quite some time before you cross the street to Starbucks in the U.S. and pay with crypto," Armstrong said. Because of this, Armstrong said, the price will continue to go through a series of bubbles and corrections, each time hitting a new plateau that changes people's perceptions. -FORBES

Coinbase CEO estimates only 10% of coins used for purchases
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2. Playboy has filed a lawsuit against a cryptocurrency company. Playboy Enterprises claims that Global Blockchain Technologies, alleging that the company failed to create a digital currency wallet for payments and overstated its technological expertise. Global Blockchain dismissed the lawsuit as nothing more than a "normal dispute." -BITCOINIST

Playboy files suit against blockchain firm
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3. Xapo President Ted Rodgers believes an "extinction-level event" will wipe out more than 90 percent of cryptocurrencies. Rodgers' comments come as many altcoins have suffered major losses in the past week, including ethereum, bitcoin cash and litecoin. Rodgers, who's company offers a cryptocurrency wallet, did not say what would cause the extinction. Instead, he said the drop in crypto prices means it is just easier to buy more bitcoin. -CCN

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4. High Times will not accept bitcoin in its initial public offering. The decision, announced on Monday, contradicts a statement from the company earlier this month. High Times Holding Corp. originally promised to accept cryptocurrencies in order to attract more investors. High Times said the original announcement, which came via a press release, was distributed in error. –COIN TELEGRAPH

High Times will not accept bitcoin in IPO
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5. Ripple VP Jeremy Light said China is "definitely a target" for the company. Earlier this year, Ripple struck a deal with LianLian International, a Hong Kong-based financial services firm to better conduct transactions between China and other parts of the world. Ripple also has deals with more than a 100 companies across the globe, but sees China, and the rest of southeast Asia, as a "region of interest" for further growth. -CNBC

Ripple sees China as a major target
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6. A pair of former Fidelity Investments executives have started a crypto-based venture fund. Called Castle Island Ventures, the firm has already raised $30 million in capital. Castle Island will back early-stage startups developing products and services to spur increased adoption of blockchain technologies. The firm, though, has no interest in investing in token sales, however. -XCONOMY

7. Check out this collection of 23 fascinating quotes about bitcoin. Here's one from Stephen Colbert: "It's gold for nerds." -FORBES

8. Former PayPal CEO Bill Harris said there is no value in bitcoin. Harris said his concerns about bitcoin include its slow transaction time, scaling challenges, and volatility. -CNBC

9. A good read on Taproot, a privacy solution for bitcoin. While Taproot offers a world of potential it comes with a problem: It relies on technology that doesn't exist yet. -COINDESK

10. Here are some explanations for bitcoin's price drop. It can be difficult to pinpoint one reason, but there has been a confluence of events that contributed to the coin's recent price struggle. -QUARTZ

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From the Forums

Some more bitcoin cash vending machines.

Thoughts on Brian Armstrong's comments.

How Reddit changed thoughts on bitcoin.

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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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