Wednesday, February 27, 2019

📌 Coinbase Lists XRP, Lying Exchanges, and Bitcoin Saves Lives... Again

 MUST READS 

XRP Set to Trade on Coinbase


The crypto twitter freaks finally got their wish. On Monday, Coinbase confirmed in an official Medium post to list Ripple (XRP) on its platform, starting with Coinbase Pro.

The result? A ~10% pump in less than a day, followed by a harsh reality 📉. The "Coinbase Effect" on token listings is certainly fading.
Like past listings, no timeline has been provided and the process could take a few weeks to fully implement across all platforms.
 

CEO of Coinbase Busts Myths About Cryptocurrency Storage


Brian Armstrong, CEO and cofounder of Coinbase, writing for Fortune dispels misconceptions about "hot" versus "cold" storage for cryptocurrencies.

🔥 takeaways:
  1. People can trade using funds in cold storage
  2. People can earn interest with funds in cold storage
  3. Cold storage is very safe if done correctly
  4. Coinbase Custody now has $500 million under custody from institutions

Samsung Reveals Galaxy S10 Blockchain Partners


The newest line of smartphones from Samsung, the world's most popular smartphone company, will come equipped with a blockchain wallet according to an initial press release from the company.

Galaxy S10 models will reportedly include storage for Bitcoin and other private keys, as well as support dApps and ERC-20 tokens.

Furthermore, at a conference in Barcelona, Samsung revealed four of its blockchain partners—Bitcoin, Ethereum, Enjin (which surged 200% off the news 🚀), and Cosmee.

The exact nature of the partnership still remains unknown and will most likely be revealed after the launch. h/t @twobitidiot for breaking down the significance of it all.
 

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 DEEP DIVE 

A Primer on Bitcoin Investor Sentiment and Changes in Saving Behavior


Investors always want to know what the fundamental price drivers are behind BTC... and whether at a given time Bitcoin is overvalued, undervalued, or at fair value. To help with that judgement, Tuur Demeester of Adamant Capital just provided the latest and greatest tools to meaningfully compare long-term investor activity... while recapping the ever-changing history of BTC valuation methodologies.

Here are the updates on Relative Unrealized Profit/Loss (investor sentiment), HODLER Position Change (insider buying/selling), and Liveliness (extent to which a cryptocurrency is meaningfully used by savers).
 

Cryptoassets: Venture into the Unknown


Cambridge Associates, who represent over $400B in institutional assets has released a brand new and thoughtful research paper covering their favorite crypto investment strategies.

"Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term."
 

CoVenture Releases Study on "True Liquidity" of Crypto Exchanges


The CoVenture team has been working hard to generate research over the last few months on the topic of exchange liquidity.

Their latest research paper attempts to address some of the key questions investors have regarding cryptocurrency exchanges, including, the true liquidity of exchanges, wash trading, exchange regulation, and more.

Don't be surprised if you begin seeing a lot of clickbait headlines taken from it.

 

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 REGULATORY FRONT 

🇺🇸 Meet the American Legislators Bullish on Blockchain


Find out why the bi-partisan Congressional Blockchain Caucus sees 2019 as a breakout year... and how 30+ states are welcoming a Web3 future.
 

Bulls, Bills and Blue Sky Thinking: How Wyoming Became the Blockchain State


Wyoming's blockchain movement, one of the "winningest advocacy efforts" of its kind in the U.S., started with Caitlin Long. The former Morgan Stanley managing director wanted to donate to her alma mater, the University of Wyoming, in Bitcoin. The state's laws didn't allow it.

Fast forward to 2019 and in a large part due to Caitlin Long's efforts, Wyoming has passed five landmark bills aimed at making one of the country's least-populated states the friendliest to crypto.

So, welcome to Wyoming. Home to coal, cattle... and now crypto.

 

Bitcoin Has Saved My Family


"Borderless money" is more than a buzzword when you live in a collapsing economy and dictatorship.

Here's how one man is saving his family -- using Bitcoin to provide necessities as his country's economy collapses around him.

 

 TWEET OF THE WEEK 

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Coinbase Criticism / Woz Interview / Empty Blocks / Roger Ver Investment

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$BTC (1:42 p.m. EST): $3,85.65 (-0.03%) // 90-day high: $6,286.41 // 90-day low: $3,286.14 / / More

$BCH ABC (1:42 p.m. EST): $133.82 (-0.25%) // 90-day high: $432.88// 90-day low: $80.95 // More

$ETH (1:43 p.m. EST): $138.16 (0.82%) // 90-day high: $201.35 // 90-day low: $86.08 // More

$LTC (1:43 p.m. EST): $45.40 (0.28%) // 90-day high: $49.19 // 90-day low: $22.09 // More

$XRP (1:43 p.m. EST): $0.31 (-1.15%) // 90-day high: $0.52 // 90-day low: $0.28 // More

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1. Members of the cryptocurrency community have criticized Coinbase for its acquisition of Neutrino because of its founders ties to an infamous Italian surveillance company. Neutrino's CEO, CTO and chief research officer, were also leaders at Hacking Group, which was caught several times selling spyware to governments with questionable human rights records, such as Ethiopia, Saudi Arabia, and Sudan. Francis Pouliot, co-founder of Bull Bitcoin, said Hacking Team was "a pro-government mercenary hacker firm that gave Saudis tools/consulting to track/eliminate dissidents," adding, "run!" Coinbase said it "does not condone nor will it defend" the founders' previous actions. –VICE

Coinbase criticized for acquisition with ties to Hacking Team
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2. Apple co-founder Steve Wozniak said bitcoin has seen "massive value creation" during a wide-ranging interview with Bloomberg. Wozniak, a co-founder of the blockchain-focused venture fund, EQUI Global, refuted the reporters statement that bitcoin has seen a large loss of value. Wozniak said he largely ignores the price of bitcoin as psychology can drive market dips. He said he sold all of his bitcoin last year at the height of its price, a statement he has made before. –COIN TELEGRAPH

Wozniak sees bitcoin as creation of value
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3. Bitcoin miners for ethereum, bitcoin cash, zcash, and litecoin have received millions of dollars over the past year for mining empty or "lite" blocks, according to the latest issue of Diar. The publication states these miners have been paid for "doing nothing," but that is not quite the case. These chains sometime feature empty blocks because of low use. The miners confirm and secure the blocks, receiving a reward for their trouble. Of course, the reward is small but it requires little work. Diar reports that miners receive on average about $5 million on each chain every month. Ethereum actually hast the most open blocks and paid miners $65 million in 2017 to mine them. –DIAR

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4. The Pangea Blockchain Fund closed a $22 million seed round that included investment from Bitcoin.com CEO Roger Ver. Based in Switzerland, Pangea plans to invest in "transformative" blockchain startups around the world. The goal is to find companies with commercial industrial applications for blockchain. The fund has no plans to direct invest in cryptocurrency. The round also included investment from Copernicus Asset Management, a Swiss firm that is regulated by the country's Financial Market Supervisory Authority. –COINDESK

Blockchain fund raises $22 million
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5. With just two days left in the month bitcoin is on pace to end its six-month losing stream. The coin is trading about 10 percent higher now since the beginning of the month. If this price holds, bitcoin will have been in the green in February for the fifth consecutive year. –COINDESK                                         

6. Tron CEO Justin Sun told Chinese cryptocurrency outlet Huoxing24 (English translation) that he believes bitcoin has reached its bottom but he is not optimistic a near-term breakout is coming. –ETHEREUMWORLD NEWS

7. Café Cryptoria plans to open next month in Las Vegas where customers can pay for their meal with bitcoin or ethereum. –EATER

8. Florida lawmakers introduced legislation that would create a working group to study practical uses for blockchain technology. –GOVERNMENT TECHNOLOGY

9. The Litecoin Foundation announced another fight-related partnership, this time with Glory Kickboxing. The foundation recently became a sponsor for the UFC, as well. –THE BODY LOCK MMA

10. Days after launching liquiding indices for bitcoin and ethereum, Nasdaq is in the final stages of doing the same for Ripple's XRP. –CRYPTO SLATE

Correction: Yesterday we made two silly errors in our newsletter. Bitcoin transacted $1.3 trillion in volume, not $1.3 billion. Also, the largest bitcoin investors hold 2.29 million BTC coins, not 2.29 billion. I am sorry for the errors.

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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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