Friday, March 1, 2019

Facebook Coin / Bitcoin Breaks Streak / QuadrigaCX / Venezuela

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$BTC (1:14 p.m. EST): $3,886.26 (0.65%) // 90-day high: $6,286.41 // 90-day low: $3,286.14 / / More

$BCH ABC (1:14 p.m. EST): $134.23 (1.56%) // 90-day high: $432.88// 90-day low: $80.95 // More

$ETH (1:15 p.m. EST): $138.06 (0.54%) // 90-day high: $201.35 // 90-day low: $86.08 // More

$LTC (1:15 p.m. EST): $48.58 (4.88%) // 90-day high: $49.19 // 90-day low: $22.09 // More

$XRP (1:15 p.m. EST): $0.32 (2.69%) // 90-day high: $0.52 // 90-day low: $0.28 // More

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1. Facebook has plans release its own digital coin in a few months that would be sent across the social giants WhatsApp platform, reports The New York Times. The report, which sites five people who were briefed on the effort and spoke on the condition of anonymity, said the effort is far enough along that Facebook has discussed selling the Facebook coin to customers on cryptocurrency exchanges. The social giant launched a blockchain group last year and has been hiring for positions for several months. The company has been tight-lipped, though, to what that project would look like – even keeping it hidden from other employees. –THE NEW YORK TIMES

Facebook digital coin could be ready in a few months
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2. Celebrate good times: Bitcoin's price rose 11 percent in February, marking its first positive month since July. Bitcoin traded at $3,425 per coin at the beginning of the month and closed at $3,815. As a result, the cryptocurrency market cap increased from $113 billion to $131 billion. Bitcoin saw three major price runs in February, surging from $3,350 per coin to over $3,600 on February 8; reaching $3,800 on February 18; and then jumping all the way up to $4,200 last week before dropping back to current levels. –CHIPICAP

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3. James Edwards, the CEO of Zerononcense, believes he has located the lost wallets of deceased QuadrigaCX CEO Gerald Cotton, which hold more than $130 million in cryptocurrency. Edwards used information from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan to find the wallets. Edwards believes Cotton, who was the only person with the keys to the wallets, stored the funds on Kraken, Bitfinex, and Poloniex. This goes against the previous belief that Cotton stored the funds in cold storage. Kraken has made a push to recover the lost crypto (watch a video here and here about their efforts) and is asking help from the crypto community. –DAILY HODL

Zerononcense editor believes he found QuadrigaCX funds
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4. José Rafael Peña Gholam, a journalist based in Caracas, Venezuela, writes that while bitcoin has helped some in Venezuela during the economic crisis, it is not the savior some have claimed. His piece comes as a counter-argument to an article written earlier this week by Carlos Hernandez in The New York Times. "The problem is that the Venezuelans able to receive crypto are generally not the ones in most urgent need in help," Ghoram writes. "Cryptocurrency remains unknown to the vast majority of Venezuelans." His piece states that only a small percentage of residents understand how to get bitcoin or trust the process. They are more concerned with finding food. "A lot of foreign crypto enthusiasts simply don't understand our country. Don't try to fit Venezuela's crisis into your favorite crypto narrative," he writes. –LONG HASH

Journalist counters bitcoin claims in Venezuela
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5. The Next Web offers a helpful guide to blockchain nodes, explaining how they operate, where they are located, and what their function is in a blockchain. –THE NEXT WEB

6. Well this sounds 100 percent accurate: Right wing media personality Alex Jones claims George Soros offered him $5 million to pump the bitcoin market. –CCN

7. French president Emmanual Macron mentioned blockchain as a way to bring transparency to the agricultural industry. –THE BLOCK CRYPTO

8. Crypto miners in China are set to launch one million mining machines in a move that could see the hashrate increase. –CRYPTO GLOBE

9. Blockstream received its first meme through its satellite network. A developer known as grubles sent the meme, which was an image of Pepe the Frog because of course it was, via the Lightning Network-powered setup. –BITCOINIST

10. PriceWaterhouseCoopers plans to conduct a trial to use blockchain to ensure the integrity of employee credentials. –COIN TELEGRAPH

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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: Kim Lyons (managing editor at Inside, a Pittsburgh-based journalist with recent bylines in the NYTimes and Columbia Journalism Review.) and Susmita Baral (senior editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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