Friday, February 1, 2019

Harry Potter / BitTorrent / Malaysia / Dubious Record

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

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1. The altcoin that lived – well, at least hopes to live. Grin, a type of privacy coin, launched on the Harry Potter-inspired MimbleWimble network on January 15. It is the second coin on MimbleWimble network and has become a popular choice with miners. Eric Meltzer, an investor with Primitive Ventures, estimated that $100 million has already been invested in Grin mining operations. Grin also will serve as a major test case for MimbleWimble, which was first conceived in 2016. The chain uses a lot of ideas for achieving private transactions that had been bubbling up within the research community at the time. –MIT TECHNOLOGY REVIEW

Grin gets early boost on MimbleWimble network
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2. The price of BitTorrent Coin (BTT) had rapidly jumped since the firm's ICO earlier this week. The coin has increased between 88 percent and 77 percent in a few hours, trading at 0.000548 against bitcoin. BitTorrent sold out of coins in 15 minutes during its ICO, even as some potential buyers failed to purchase coins because of technical difficulties. The coin can be used on the BitTorrent platform to enable faster content downloads.  –COIN SPEAKER

BTT coin sees early price boost
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3. Malaysian regulators have released an amended set of rules for cryptocurrency exchanges. These rules come as part of a larger government effort to regulate the cryptocurrency industry, including the creation of stricter laws for ICOs, which are expected to be released later this year. As part of these new guidelines, crypto exchanges must conform to a corporate organization structure, and the top executives of these exchanges must have a clean criminal record. Finally, their exchanges must show proof of robust security measures to protect investor funds. –BITCOINIST

Malaysian regulators add new bitcoin laws
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4. Bitcoin set a dubious record in January. The month that just ended was bitcoin's sixth consecutive losing month, the longest streak the coin has suffered to date. Bitcoin's losing streak started last August and now continues into this month. While there is some hope that February will break the streak, there are some analysts believe that bitcoin has yet to fully bottom out. On Thursday, a single bitcoin traded for around $3,450, down more than 80 percent from its all-time high near $20,000. –MARKET WATCH

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5. Lux vending intends to roll out 30 new cryptocurrency ATMs in Chicago, bringing the total in the city to 226. –DAILY HODL

6. Australian crypto researcher Willy Woo argued on Twitter that bitcoin could surpass gold's market cap of $8 trillion. –NEWS BTC

7. The Food and Drug Administration of the Chinese Chongqing Yuzhong District will use blockchain technology to streamline its operations. –COIN TELEGRAPH

8. SovereignWallet claims to have the "fastest bitcoin transfer in the world." –NEWS BTC

9. Binance, the world's largest cryptocurrency exchange, will now accept debit and credit cards in an effort to make it easier to turn fiat currency into crypto. –DAILY HODL

10. IBM and Pacific International Line have put oranges on the blockchain, allowing interested parties to track them from the field to the store. –THE BLOCK CRYPTO

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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) 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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