Wednesday, January 16, 2019

📌 Hackers Return ETC, Crypto Insights from Asia, and Bitwise's New ETF

 MUST READS 

Ethereum Classic 51% Attackers Allegedly Returned $100,000 to Crypto Exchange


Cryptocurrency exchange Gate.io stated Saturday that $100,000 in Ethereum Classic (ETC) has been returned following last week's hack. The exchange further said it tried to contact the 51% attacker, but has not received any reply so far, adding:

"We still don't know the reason. If the attacker didn't run it for profit, he might be a white hacker who wanted to remind people of the risks in blockchain consensus and hashing power security."

If this was actually what they intended, then these attackers have our respect. Here's Dovey Wan with more details on the solemn lesson.
 

🍽️ Blockchain's Movable Feast: How the Tech is Changing Food Supply Chains


The demand for healthy, sustainably produced food is rising globally. How food gets to you matters, and if a blockchain can give you details on the French farmer who grew your tomatoes or provide a glimpse of the prairie grasses that went into your rib eye, it just might make your meal taste sweeter—and command a higher price.

Not to mention the financial impact a blockchain could have on the food supply chain as well. With food-borne illnesses costing the US at least $55 billion annually and resulting in 128,000 hospitalizations and 3,000 deaths, you can begin to see the impact a blockchain can have on the economy.
 

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 DEEP DIVE 

A Crypto Thesis: Open Financial Systems


Joe Krug, Co-Chief Investment Officer at Pantera Capita, catches us up on the recent innovations in crypto... what's being done right now to overcome the technological and institutional barriers to adoption... along with some quality investing tips in this nascent space.

Warning: this is a pretty long one. But it's been stirring up a good debate on the immense technical and economical complications the crypto community still faces.

Here's a TLDR (executive summary) for those who want to get right to the punch.
 

🌏 2019 Predictions on Crypto in China and the Rest of Asia


As the cryptoasset space becomes more mature, Global Coin Research felt obligated to help folks understand not just blockchain in China, but Asia itself. Take a look at the questions they answer with their understanding of the cultural, political and economic agendas of the world's largest economies.
 

Big Ideas: Technological Breakthroughs Investors Shouldn't Miss in 2019


Although ARK Invest's latest report doesn't focus entirely on crypto, it's still worth the share. See their latest research on deep learning, energy storage, robotics, crypto, VC trends and much more.

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 REGULATORY FRONT 

Wyoming Passes Two New Blockchain, Crypto-Related Bills


The state legislature of Wyoming has reportedly passed two new bills that aim to foster a regulatory environment conducive to cryptocurrency and blockchain innovation. The developments were reported by the president of the Wyoming Blockchain Coalition, Caitlin Long, in two tweets posted Jan. 10 and Jan. 11.
 

🇻🇪 Bitcoin and Bolivars


It's been a while since we've touched on the anti-authoritarian crypto narrative that's growing by leaps and bounds in Venezuela...

We enjoyed this update from Alejandro Machado, who recently investigated how people there are using cryptocurrencies, and why the bolivar is still one of the "most useless fiat currencies on the planet."

 

 TWEET OF THE WEEK 

For your weekly comic relief, here's the YouTube clip that shook the internet shortly after BitConnect tanked...

Other Articles You May Enjoy

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Constantinople Delay / Cryptopia Hack / BBC News / Giga Watt

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$BTC (1:28 p.m. EST): $3,665.88 (-0.22%) // 90-day high: $6,860.85 // 90-day low: $3,286.14 / / More

$BCH ABC (1:28 p.m. EST): $130.01 (-0.28%) // 90-day high: $632.22// 90-day low: $80.95 // More

$ETH (1:29 p.m. EST): $124.46 (-2.45%) // 90-day high: $229.12 // 90-day low: $85.11 // More

$LTC (1:29 p.m. EST): $31.89 (-1.04%) // 90-day high: $54.64 // 90-day low: $22.09 // More

$XRP (1:29 p.m. EST): $0.33 (0.36%) // 90-day high: $0.53 // 90-day low: $0.28 // More

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

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1. Developers have decided to delay the Constantinople upgrade to the ethereum network. The upgrade, which was scheduled for today, comes as the security audit company ChainSecurity discovered a security vulnerability on Tuesday. The bug could make contracts vulnerable to called a "re-entrancy attack," where a hacker could steal other people's ether. Constantinople is no stranger to delays. The upgrade was originally scheduled for last November, but was postponed due to bugs. A new date for the upgrade has yet to be decided. –MASHABLE

Constantinople upgrade put on hold again
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2. Cryptopia, a New Zealand-based cryptocurrency exchange, was hacked. Thieves took between $2.5 million and $3.5 million worth of ether. The hack happened on Sunday, but the exchange did not alert users until Tuesday. While the exchange has not given the exact amount of the hack, the firm Hacken claims to have discovered a fraudulent transfer of 19,390 ether from the exchange's accounts during a maintenance period. –CRYPTO SLATE

Cryptopia exchange reports hack
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3. Hackers have used a seemingly legitimate BBC News website to mine bitcoin. The scam, first identified last week, sent out emails that rerouted users to an affiliate website tasked with generating bitcoin based on page views. The links were disguised to look like BBC News sites, although a closer look would have revealed a key fact – all the articles referenced bitcoin or cryptocurrency. –THE NEXT WEB

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4. Giga Watt has shut down day-to-day operations. The bankrupt bitcoin mining company sent an email to customers on Tuesday that said it had continued to operate for two months since filing for bankruptcy, but now no longer had access to its facilities. Users that had completed their know-your-customer verification will be able to withdraw any cryptocurrency remaining in their wallets until March. Giga Watt filed for bankruptcy in November that showed debts of more than $7 million, including more than $800,000 to electricity providers. –COINDESK

Giga Watt shuts down day-to-day operations
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5. For those that feel bitcoin is too risky an investment, consider this: lottery players spent more on tickets last year than the entire market cap of bitcoin. –BITCOINIST

6. Ford has launched a blockchain pilot with IBM to ensure the ethical sourcing of cobalt. –FORBES

7. An analyst argues that 2019 should be used to accumulate cryptocurrencies, as the coins will stage a recovery late in the year. –CCN

8. Bitcoin is 66 percent of the way to the next block halving, which is supposed to take place in May of 2020. –AMB CRYPTO

9. Despite being more than a decade old, bitcoin will not go mainstream until it is regulated. –CNN

10. A government district in South Korea plans to use blockchain for administrative transparency. –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: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), 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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