Wednesday, June 12, 2019

Market Watch / Coinbase Card Launch / From The Forums / President of Brazil

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1. Market Watch: Bitcoin blows through $8k reaching $8,171. The market reacted to this good news and all coins in the Top 50 by market cap except two have seen positive movement over the past 24 hours.

  • Bitcoin: $8,149.31 (⬆️ 3.62%) // $144.6 billion market cap.
  • Ethereum: $257.31 (⬆️ 6.01%) // $27.3 billion market cap.
  • XRP: $0.40 (⬆️2.19%) // $16.9 billion market cap.
  • Litecoin: $138.15 (⬆️ 4.20%) // $8.5 billion market cap.
  • Top 100 Winner: Zcoin: $12.41 (⬆️ 29.68%) // $95 million market cap.
  • Top 100 Loser: Nebulas: $1.58 (⬇️ 8.98%) // $78 million market cap.

Prices are as of 1:35 EST.

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2. Coinbase launched its cryptocurrency debit card in six more countries joining the United Kingdom. Coinbase Card launched in Spain, Germany, France, Italy, Ireland, and the Netherlands. The debit card powered by Visa allows anyone to spend their Coinbase balance at any location that accepts Visa. Coinbase charges users a fee to convert their cryptocurrency into the fiat denomination that the merchant accepts. The Coinbase card also operates as a physical contactless card that can be used to withdraw cash from ATMs. - CNBC

When the Coinbase Card launches in the U.S., will you use it?

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3. From The Forums: Bank Frick, a private bank in Liechtenstein, announced that it grew its traffic 900 percent by offering its professional traders and consultants the ability to purchase different cryptocurrencies directly from the bank.

The announcement quickly became a hot topic on Reddit.

Vertigo722 stated: "Good for them, but it's kind of bizarre we are cheering this on. It means rich people are using a trusted third party custodial financial solution governed by banking laws to manage their wealth. What does this have to do with crypto again?"

 Popolon2000 responded: "They are protected by the bank. They don't have to manage their crypto wallet or keys. They don't take the risk to lose their perks. Rich people delegate the management of their wealth because they want a pro. Service around it and they don't have/want to spend time to do this. This is a service they can afford to pay."

Mvictordbz drops the logic: "Don't try to use logic here. Most are blind with "decentralization" that they don't see what comes with it. People are free to do whatever they want, if they want someone to manage their wealth is totally okay plus the bank cannot inflate the market."

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4. Brazil Pair Jair Bolsonaro is against the use of cryptocurrency. During an interview aired on national television, Bolsonaro mentioned his dislike of the fact that cryptocurrency would be used to bank indigenous people in Brazil. Bolsonaro said, "We are cutting expenses. We were about to use 40 million Reales to teach natives to use bitcoin." This was in reference to an $11.5 million project by the previous administration that aimed to create an indigenous cryptocurrency. The National Indian Foundation (Funai) and the Fluminense Federal University (UFF) created the project in order to help bank Brazil's indigenous people. The project was shut down in January right after Bolsonaro took office. When asked about Bitcoin, President Bolsonaro stated, "I don't know - Is it a coin?" - COIN DESK

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A MESSAGE FROM AIRBNB

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5. Former Pennsylvania Senator Rick Santorum is an advisor to a religious-themed cryptocurrency named Cathio. - GIZMODO

6. The Philippines' Central Bank warned against the use of cryptocurrency citing terrorism financing. - COIN TELEGRAPH

7. Legal & General a U.K. based Insurer is using Amazon's blockchain service for pension deals. - COIN DESK

8. "Some years from now, I think it's a foundational layer under everything," Dale Chrystie a FedEx exec stated about the blockchain. - COMPUTER WORLD

9. Bitcoin, Ethreum and Monero are the three most popular cryptocurrencies discussed on Reddit. - ACM

10. Private smart-contract protocol Enigma launched its Testnet today. - COIN TELEGRAPH

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Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside), David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology), and Bobby Cherry (senior editor at Inside, who's always on social media).

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