Monday, February 18, 2019

QuadrigaCX Hope? / Ripple / Bitcoin Shift / Men

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

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1. Deceased QuadrigaCX CEO Gerald Cotton said in a 2014 podcast that he kept the private keys to his cryptocurrency accounts on paper in a safe deposit box. While it is not much, it does offer some hope to the more than 100,000 QuadrigaCX customers who have funds locked in a cold storage wallet that only Cotton could access. It is not clear if Cotton, who mentioned the safe deposit box while talking on the True Bromance Podcast, still used that system. "At Quadriga CX, we're obviously holding a bunch of Bitcoins that belong to other people who have put them onto our exchange," he said on the show. "So what we do is we actually store them offline in paper wallets, in our bank's vault in a safety deposit box because that's the best way to keep the coins secure." Here's hoping. –BLOOMBERG

Cotton may have kept keys in safe deposit box
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2. Ripple's XRP token has come under direct attack from JPMorgan's new stablecoin, and its price of late has started to reflect that, at least somewhat. While the cryptocurrency market has seen about a 5 percent gain in recent days, XRP has only increased in price about 2 percent. Some in the industry, including Bloomberg business editor Joe Weisenthal, believe JPM Coin could serve as a good way for banks to transfer money, something XRP has previously done. Tom Shaughnessy, principal at Delphi Digital, a crypto research boutique in New York, said: "This is a huge slap in the face for Ripple. Ripple's target market is cross-border payments and remittances and now JPMorgan's effort is a direct threat." –NEWS BTC

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3. Coinbase intends to close the Shift Bitcoin debit card, which allows customers to spend cryptocrrency with a Visa debit card, will shut down operations in April. The card was launched in November 2015, and has been copied in various forms by other cryptocurrency exchange operators. Shift did not state the reason for the cancellation of the product. Cards will continue to function as normal until April 11 of this year. Part of the criticism the card faced was a $20 issuance fee that required potential users to hold that amount of crypto before applying for the card. –COIN TELEGRAPH

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4. 85 percent of the employees at blockchain startups are men, a much higher percentage than the technology industry as a whole, according to data from Statista. The numbers got even lower when looking at company leadership. Female only held 7 percent of leadership positions at these companies, while 8 percent were listed as advisors. In an article for The New York Times, Nellie Bowles pointed to the bro culture that surrounds the cryptocurrency industry. In particular, she pointed to a company called DateCoin that promoted its Twitter page with a bikini-clad woman, and last year's North American Bitcoin Conference that hosted an after-party at a gentleman's club. –THE NEXT WEB

Report: Majority of blockchain workers are men
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5. Bitcoin's price has risen above $3,800 per coin, hitting its highest price since January 19. –COINDESK

6. nChain chief scientist Craig Wright again claimed to be bitcoin creator Satoshi Nakamoto, this time in a formal letter to the US Commodity Futures Trading Commission in response to a public request for information on the functions of the ethereum network. –TOSHI TIMES

7. Bitcoin Twitter has had a lot of fun with last week's announcement that they could purchase pizza on the Lightning Network thanks to the Lightning Pizza application. –NEWS BTC

8. Toronto has more Lightning Network nodes than any other city, with Ashburn, Va., second on the list. –BITCOINIST

9. Bitmain Technology has released a new 7-nanometer mining process that if claims is more energy efficient than other processors. –COINDESK

10. Indonesia has seen an increase in bitcoin trading on LocalBitcoins after the government enacted anti-money laundering regulations for the cryptocurrency industry. –BITCOINIST

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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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