Tuesday, September 10, 2019

We’ve launched the Centrality Bounty Program!

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Earn rewards by contributing to our network through the Centrality Bounty Program. Our challenges tackle everything from identifying bugs, creating content, building and optimising our open source tools.

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Stellar drop

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September 10, 2019
STELLAR GIVEAWAY: The Stellar Development Foundation and messaging service Keybase announced a 2 billion XLM airdrop, the largest in Stellar’s five-year history. The tokens to be given away are currently worth roughly $120 million. Over the next 20 months, Keybase users can expect a monthly distribution of 100 million XLM. Keybase currently has 300,000 active users across its various services, according to the company. Full story

TWINS CUSTODY: The Winklevoss-founded Gemini exchange is launching an institutional-grade crypto custody solution that will support a number of ethereum-based ERC-20 tokens. The new service will allow storage of 0z, Augur’s REP tokens, basic attention token, dai, maker and more, comprising 18 cryptocurrencies in all, including the already-supported bitcoin, bitcoin cash, ether, litecoin and zcash cryptos. “Institutional investors have demonstrated a clear and growing demand for crypto, but they’ve struggled to find a solution that fully meets their complex regulatory and security requirements,” the firm said. Full story

POS CASH: CasperLabs, a startup building an open-source proof-of-stake blockchain platform aimed to achieve scale without sacrificing decentralization, has raised $14.5 million in a Series A funding round. The round was led by financier Terren Piezer – known as the “Zelig of Wall Street” – via his personal holding company, Acuitas Group Holdings. Arrington XRP Capital, Consensus Capital, and others also participated. CasperLabs said that the new funds will be used to speed up product development and bring more engineers on board. Full story

TOKENIZED IPO: Today saw the launch of what is probably the first ever blockchain-based initial public offering (IPO), with the national stock exchange of the Seychelles selling tokenized shares in its equity to investors worldwide. The shares – tokenized on the public ethereum blockchain – became available Tuesday morning on the MERJ exchange’s own platform, as well as via several U.S. and U.K.-based firms. The IPO sees MERJ issuing 1,652,893 new shares, with the aim of raising $4 million to fund its expansion. The sale values the firm at $25 million, the firm said. Full story

DEFI TRACKER: Nasdaq has added a new index aimed to offer market information on blockchain projects working in the decentralized finance (DeFi) space. Called Defix, the index was launched by the London-based Exante brokerage – an early mover in the crypto finance industry that launched a bitcoin fund in 2012. Offered as a means for investors and traders to track “popular” defi-focused blockchain tokens, Defix lists projects including MakerDao, Augur, Gnosis, Numerai, 0x and Amoveo. Full story
DROP THREAT: Bitcoin's inability to capitalize on Monday's price breakout on intraday charts is cause for concern for the bulls. The cryptocurrency would face strong selling pressure if the failed breakout is followed by a move below the hourly chart support of $10,060. On the higher side, a move above the resistance near $11,000 is needed to revive the bullish mood. Full story
FIGHTING PHARMA FAKES: Tackling the problem of fake medicines is complex and time-consuming, with companies needing to collect data from different entities across the supply chain. To make the process easier, ComputerWeekly reports, Zuellig Pharma recently launched a smartphone app, dubbed eZTracker, that utilizes a blockchain platform from SAP and enables consumers to verify that a drug is genuine and has been legitimately distributed by simply scanning a barcode. As a shipment arrives at a warehouse, or is received at a hospital or drug store, the SAP platform stores that data so all points along the supply chain can be verified. The firm hopes that eventually, all pharma firms will use one app for the same purpose, meaning consumers won’t need to download multiple apps.

WHO WON #CRYPTOTWITTER
 

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It's Staking Time!

The moment you have been waiting for...

Staking with ICX is Live!

Attention ICONists, it's time to vote for your favorite P-Rep candidates! A tutorial on how to stake & vote is outlined below (but can also be found here), and here are some important points to keep in mind:
  • Make sure to spread out your votes. Spreading your votes to multiple candidates is a simple but important process to help with network decentralization. Learn more about P-Rep candidates here!
  • I-Score will appear ~2 days after initially voting, then will appear every ~1 day going forward
  • Claiming I-Score more often will maximize your rewards

Current ICON Staking Statistics:

  • Reward Rate: 25.68%
  • Percentage of Network Voted: 13.33%
  • Number of Registered P-Reps: 49

As the Percentage of Network Voted increases, the Reward Rate decreases. Make sure to take advantage of the early adopter incentive to stake on the ICON Network while the reward rate is high!

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If you have any questions about how to stake/vote, please join our telegram channel!
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Bitcoin's hash rate / BTC in a deflationary environment / crypto taxes

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Hello Bitcoiners!

Welcome to another edition of Inside Bitcoin. Today, you'll get the scoop on everything from Bitcoin's hash rate to smart contract oracles. Don't forget our list of Bitcoiners on Twitter. @VidiellaLaura is insightful enough to compare the airplane to Bitcoin, so does that mean we need a BTC museum? And you don't want to miss rabble-rouser @DanDarkPill, who recently was reinstated after a Twitter suspension. 

-- Allen

     

Market Watch: The top four cryptocurrencies are all down this morning. No. 5, LTC, is up a slight 0.72%. It's all alone among the top 10.

  • Bitcoin: $10,229 (⬇️ 1.20%) // $183.3 billion market cap.
  • Ethereum: $180.07 (⬇️ 1.07%) // $19.3 billion market cap.
  • XRP: $0.260 (⬇️ 0.53%) // $11.19 billion market cap.
  • Bitcoin Cash: $303.99 (⬇️ 0.73%) // $5.47 billion market cap.
  • Top 100 Winner: ABBC Coin: $0.09 (⬆️ 18.17%) // $54.8 million market cap.
  • Top 100 Loser: XMax: $0.002 (⬇️ 10.95%) // $38.7 million market cap.

Prices are as of 11:19 a.m. EDT.

     

1. Bitcoin's hash rate is poised to hit 100 quintillion hashes per second for the first time in history. While a date has not been mentioned regarding this event, the hash rate was 94 quintillion hashes per second as of two days ago. The hash rate is a measure of computing power involved in processing transactions on the network. According to RT host Max Keiser, an increase in hash rate typically corresponds to a rise in Bitcoin price. Keiser also predicts fiat currency will begin to feel the strain from Bitcoin's increased strength. -- COIN TELEGRAPH

Bitcoin's hash rate is poised to hit 100 quintillion hashes per second soon
     

2. Hacker Noon contributor Kevin Virgil claims a Negative Interest Rate Policy (NIRP) increases demand for cash alternatives like Bitcoin. European banks are beginning to consider negative interest for holding depositor money. On the other hand, deflation reduces the case for holding digital assets. In the event of an economic downturn, Virgil says, stablecoins will be the clear winner, especially if and when altcoins fall to zero value--and most of them will, he proclaims. Another prediction he makes is the advent of centralized sovereign currencies, known as Central Bank Digital Currencies (CBDCs). He goes on to predict future Bitcoin demand will be driven by emerging economies, will continue to be a safe haven asset, and its lower correlations offer benefits diversified portfolios. He encourages sophisticated investors to consider Bitcoin, even in a deflationary environment. -- HACKER NOON

Do you think holding Bitcoin is wise in all financial environments? Send your reply to allen.taylor@inside.com.

Bitcoin is a safe haven asset good to hold in a deflationary money environment
     
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3. While Coinbase has 30 million accounts, fewer than 1,000 electronically filed federal income tax returns reported crypto transactions between 2013 and 2015. In July this year, the Internal Revenue Service (IRS) sent warning letters to 10,000 people who may be out of compliance with U.S. tax filing requirements. The IRS considers digital currency as property. That means traders are required to report capital gains and losses. For individuals who do not report gains and losses and get audited, there could be stiff penalties and interest. To calculate the value of cryptocurrency into U.S. dollars, taxpayers must calculate the fair market value of the currency in USD on the date they receive it. When the currency is sold or traded for something else, you do the same for the date that transaction is made and the difference is your gain or loss. There are tax implications for buying goods with crypto, paying employees, and more. -- MARKETWATCH

     

4. Stellar is partnering with group messaging and file transfer application Keybase to give away $124 million in XLM. Called an airdrop, Stellar Development Foundation is handing out 2 billion XLM over the next 20 months to Keybase users to promote financial inclusion. The value of the crypto is $.006 per XLM, according to Messari. -- FORBES

     
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5. PODCAST: Charlie Shrem, host of Untold Stories, interviews Indian billionaire and Parliament member Rajeev Chandrasekhar about his government's views on cryptocurrency. Chandrasekhar, who earned his wealth as a tech entrepreneur and built one of the earliest mobile phone empires in India, talks about how technology can be used as a tool of governance in India. He sees a parallel between cryptocurrency tech today and the early 1980s when the Pentium processing chip was created. With billions of people in India still living in poverty and living outside of the governmental system, India is playing "catch up" in terms of technological innovation. He also discusses the role of regulation in technology and says he doesn't want to stifle innovation or take a "paranoid approach" to regulation. He believes the re-architecting of government will take 7-10 years as India focuses on modernizing its government. -- BLOCKWORKS GROUP

     

6. A Norwegian Bitcoin investor and millionaire narrowly escaped an armed robber trying to steal his cryptocurrency. The would-be thief was armed with a short-barrelled shotgun when he invaded the crypto-millionaire's Oslo home. The millionaire escaped by jumping from the balcony and onto the street. Known as a brag, it's believed he was targeted by the thief due to his vocal expositions concerning his crypto investments. -- CRYPTOPOLITAN

     

7. Nearly 60 percent of the adjusted daily-traded crypto volume globally, or $1.8 million USD, is traded on Asian exchanges, according to CoinGecko data. Fifteen of the top 20 exchanges are all located in Asia. Binance, founded by Chinese Canadian Changpeng Zhao, rakes in $400 million USD in revenue each year. Not only are most of the major exchanges located in Asia, but the top crypto mining farms--Bitmain and Canaan Creative--are also in Asia. CoinGecko says 80 percent of the mining pools are in China. ASIC miner manufacturer Bitmain made $2.8 billion in revenue last year alone. Asia is also the leader in crypto fundraising, and Singapore is leading the region with 228 companies funded through the ICO. If cryptocurrency is the future of money, then Asia is the likely leader of the global economy. -- BUSINESS TIMES 

     

8. Securities and Exchange Commission Chairman Jay Clayton says a Bitcoin ETF is close to approval, but the commission needs more information on custody in order to prevent price manipulation. While there has been progress made regarding the security of crypto assets, he says, people need more answers to hard questions. The SEC has come under scrutiny for not already approving a crypto ETF. In July 2018, the SEC rejected a Bitcoin ETF application submitted by Cameron and Tyler Winklevoss, owners of the Gemini exchange. Many crypto enthusiasts are on the edge of the seats awaiting the day when they invest in a Bitcoin ETF. -- CCN

     

9. Chainlink quietly launched an oracle called Mixicles last Tuesday that promises to give public blockchains more privacy features. An oracle is a third-party data feed used in smart contracts to trigger predefined actions. Mixicles are designed to separate different parts of a smart contract into separate contracts for onchain and offchain actions. In finance, transactions often require a level of privacy that makes public blockchains impractical and undesirable. Mixicles promises to change that with a decentralized tool that allows enterprises to take advantage of public blockchains without compromising user privacy. -- DECRYPT

Mixicles deliver privacy features to public blockchains through oracles
     

10. U.S. Founding Father Alexander Hamilton takes anonymous Bitcoin inventor Satoshi Nakamoto to the mat, and to task, over decentralization in this epic rap battle. Seriously, you'll chuckle more than once, but it's just not for laughs. Epic Lloyd of Epic Rap Battles of History plays Hamilton and Timothy DeLaGhetto of YouTube plays Nakamoto in this rap duel that pits the philosophies of the two competing monetary systems against each other in lyric and poised passion. As poetic as it is prescient, whether you're on the side of centralized fiat currency or decentralization, you'll enjoy this video presentation--and you might learn something too. They'll even let you vote on the winner. -- BOING BOING

Boing Boing brings you Alexander Hamilton vs. Satoshi Nakamoto in epic rap duel
     

Inside Bitcoin is written and curated by award-winning journalist and former newspaper editor Allen Taylor. Recognized by the Dallas Bar Association three times for excellence in legal reporting, Allen has since gone on to author, edit, or ghostwrite several white papers, books and e-books, and over 10,000 blog posts for clients ranging from small business owners to global management companies and corporate executives. Learn more about him on LinkedIn.

Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

     
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