Saturday, September 8, 2018

Week 36: Five Bullet Friday. 5,000 KMD infographic contest! 100 KMD prizes for people who share it.

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Five Bullet Friday

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Week 36

Komodo's 2.0 Infographic Contest: 5,000 KMD Grand Prize! Calling all creatives to take part in our infographic contest and compete for a prize of 7,000 KMD. The winning infographic will explain the architecture of Komodo Platform's technology. Winners will be those who are able to communicate our architecture and tech visually. There are prizes to win for those who share the contest too.

The fifth crypto-conditions smart contract will be oracles. Why are they important? You can read a really good explanation of why oracles are important, published on Hacker Noon, or read JL777's explanation in his guide to crypto-condition smart contracts.

AMA Monday will be about the STAKED chain and the Reddit post contains an audio recording of the team explaining what it is and how it will be used. Click here for the Reddit post or here to listen to the audio recording.

Komodo integrates into CoinFlip to allow the purchase of $KMD with $USD. Komodo is happy to announce the integration into CoinFlip, a world-leading Crypto ATM distributor allowing the purchase of Komodo in hundreds of ATMs across the United States. Read more here.

Vote for Komodo: Which cryptocurrency would you ask the Cindicator Hybrid Intelligence about?

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Who's mining profits still?

QUOTE OF THE DAY

"If you see a bandwagon, it’s too late."

- James Goldsmith

MARKET

COIN	PRICE	24H

BTC	$6,501.052409	+0.45%

ETH	$219.759004	-1.15%

XRP	$0.294651	-0.07%

BCH	$503.946355	-0.64%

EOS	$5.118851	+0.78%

*Information as of 9:30 AM EST

MINING

Who's mining profits still?

CEO of Major Mining Pool Releases List of Minimum Crypto Prices for Mining Profitability

MINIMUM MINING LIST

September 6th, CEO of China’s F2Pool Shixing Mao published a list containing the minimum prices needed for mining to be profitable on many different cryptocurrencies
The cryptocurrencies included in the infographic were Bitcoin, Litecoin, Ethereum, Zcash, DeCred, Siacoin, Dash, and Bytom
The list showcases different minimum price options for different popular mining models

Here is the list that Shixing Mao posted publicly:

MAJOR BITCOIN PRICE POINTS

According to the infographic, the highest minimum price for profitability is the S7 model miner which is unprofitable anywhere below $11,581
In contrast, Antminer’s popular T9 model is still profitable if the price of Bitcoin stays above $5,376
Sitting comfortably, the Innosilicon T2 has the lowest breakeven price point as it remains profitable to mine Bitcoin anywhere over $3,891

SEEKING PROFITABILITY

Within the entire list, all of the Ethereum, Litecoin, Zcash, and DeCred mining setups remained profitable
Those which are currently underwater include some of the Bitcoin mining models, a Siacoin miner, a Dash miner, and a Bytom miner
To conclude, many miners have remained profitable despite Bitcoin's price decline and some still have a solid cushion before mining doesn't make sense

EXCHANGE

Binance May Be Thinking About Going Public, Hires CFO

NEW CFO

Binance announced the hiring of a new CFO, Wei Zhou
Zhou comes to Binance with experience taking two companies public as CFO
He has also worked in investment banking for Goldman Sachs and most recently served as vice chairman of Grindr before joining Binance

IPO RUMORS

People have begun connecting the dots and are guessing that the hiring of Zhou indicates that the exchange is considering going public
Binance has been an incredibly successful business in a very short time frame, going public seems unnecessary as they have shown the tremendous ability to generate free cash flow
However, Binance may have much larger plans than people speculate and going public would give them the capital to expand

Binance CEO ‘CZ’ took to Twitter to respond to the rumors:

“Binance have no plans for IPO, but that doesn't make those experiences less valuable in our new industry. On the contrary, those are very much needed. We are always looking for top talent, from traditional finance, internet ... any industry and anywhere in the world!”

INTERNATIONAL

Blockchain Evidence is Now Legally Binding in China

SUPREME COURT RULING

China’s Supreme Court has ruled that blockchain evidence can now be used in court in the country
The ruling is a part of a new clarification regarding the jurisdiction of internet courts in China
Parties using blockchain evidence must be able to prove the legitimacy of the technology

The Supreme Court announced:

"Internet courts shall recognize digital data that are submitted as evidence if relevant parties collected and stored these data via blockchain with digital signatures, reliable timestamps and hash value verification or via a digital deposition platform, and can prove the authenticity of such technology used."

BLANKET BAN

China’s relationship with blockchain and cryptocurrencies has been a very odd case study
The country currently has a blanket ban on all cryptocurrency trading, initial coin offerings, and media publications related to the industry
It seems like the country is choosing blockchain not cryptocurrency and use the technology sans any token incentives

NEWS

Top Lawyer at Ripple Leaves Amid Variety of Class Action Lawsuits

LLYR LEAVES RIPPLE

Yesterday, a spokesperson at Ripple clarified that top lawyer Brynly Llyr has left the general counsel of the cryptocurrency startup
Her departure comes after serving in that role for almost 2 years

Speaking on Llyr’s decision, Ripple explained its gratefulness for her service:

"We’re grateful to all that she did to help build an incredible team that will continue the work they’ve been focused on for the past year and beyond. We wish Brynly all the best in her next endeavor and the team here at Ripple looks forward to the next chapter where we will continue to pave the way in this ever-evolving and unchartered industry."

INTERESTING TIMES

Llyr’s departure comes right in the middle of Ripple’s defense against many class action lawsuits, most of which claim Ripple is and should be regulated as a security
Ripple CEO Brad Garlinghouse has furiously defended that Ripple is not a security and even claimed that the XRP ledger is more decentralized than the Bitcoin network on many measures
Still, the Securities and Exchange Commission has yet to comment on the matter as it likely continues to research XRP

BITS

The Los Angeles Dodgers, a U.S. professional baseball team, will hold a giveaway of crypto-based athlete tokens at the end of this month.
French energy company Engie and business consulting group Maltem are launching a new blockchain development spinoff for commercial clients.
Opera now allows users to send crypto collectibles, such as CryptoKitties, directly from its recently announced in-browser crypto wallet.

TODAY IN CRYPTO

Ethereum (ETH)

Ethereum Industry Summit

Ethereum Industry Summit in Hong Kong.

PROOF | SOURCE

IOTA (MIOTA)

Hamburg Meetup

The IOTA meetup will consist of a presentation, a hands-on session, and a live demo. The meetup will take place on September 8, 2018.

PROOF | SOURCE

Komodo (KMD)

Codebase Update

"... At block height 1 Million, Komodo will implement updates to the KMD blockchain’s codebase."

PROOF | SOURCE

Today in Crypto is powered by coinmarketcal.com

LEARN THE LINGO

Sat

noun

The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.

COIN OF THE DAY

Quant (QNT)
The first Blockchain operating system that connects the world’s networks and facilitates the development of multi-chain applications.
WEBSITE \| TWITTER \| REDDIT

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