Warning: This $600 Billion Industry Could Soon Collapse

Editor's Note: We are always on the lookout for cutting-edge financial news to share with you. Below is research from our friends at Stansberry Research that we found particularly interesting. Dear Reader, When the early "dot com" stocks crashed and burned... Companies like Amazon, Google, and Facebook rose from the ashes and fulfilled the world-changing potential the Internet had promised. And they created massive fortunes in the process. Right now, the exact same thing is happening with 'crypto' technology.   The next evolution of this technology is what we call "ID Coin." ID Coin is a fortress of security compared to the flimsy passwords and vulnerable databases we have today. It's supported by major governments. And it has the potential to erase a $6 billion global problem that affects you and everyone you know. Best of all, you can buy a stake for relative pennies today. And you can do it in the standard investment accounts you already have, without going anywhere near a 'crypto' exchange. But I recommend you act fast. Because an announcement from the U.S. government could send ID Coin soaring, overnight. For now, you can get the full story, for free, right here. Regards, Ken Millstone Researcher, Stansberry Research CoinSnacks | 5500 Military Trail Suite 22-250 | Jupiter, Florida | 33458 Unsubscribe | View in Browser

Lightning liability

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October 21, 2019 BITCOIN BLASPHEMY: The 18 millionth bitcoin was mined last Friday. The next 3 million bitcoins will be progressively slower to mine as a result of block reward 'halvings' that occur roughly every four years. While the final bitcoin is expected to be mined in 2140, some developers foresee a day when the 21 million cap might come up for debate. Full story LIGHTNING ATTACK: The bitcoin lightning network may be vulnerable to a simple denial-of-service (DoS) attack, according to a recent research paper. Such an attack could slow or even stop a high percentage of payments on the network. Although the behavior hasn’t been seen in the wild, it is considered a major flaw in the network as it stands. “It is extremely easy to execute. It takes opening a few lightning channels to key points, promising zero fees, and then not relaying any payments,” one of the authors said. Full story NODE ON THE GO: Taiwanese electronics manufacturer HTC unveiled its latest blockchain phone, the Exodus 1s, capable of running a full bitcoin node. Announced Saturday at the Lightning Conference in Berlin, the new smartphone comes to the market at a price of €219 ($244), which is about a third of the cost of its predecessor, the Exodus 1. Full story CASH CLAIM:  Bitfinex has applied to a U.S. court to subpoena a former banking executive as it looks to recover $850 million in frozen funds. The exchange submitted a filing on Oct. 18 to a California court seeking to depose Rondell “Rhon” Clyde Monroe, a former vice president of TCA Bancorp. Bitfinex alleges that its former payment processor, Crypto Capital, which allegedly held the funds, “has used one or more accounts held at TCA Bancorp” and believes Monroe has information and documents vital to its claims. Full story SHIFT OF BALANCE: The Facebook-led Libra project may consider a change to how its planned global payments system will operate. Speaking at a banking seminar, Libra co-creator David Marcus said the firm is thinking of dropping its “synthetic” stablecoin – which is to be pegged to a basket of fiat currencies and government bonds – and instead issuing individual coins pegged to national fiat currencies such as the dollar, pound and euro. Full story REBOUND CHECK: Bitcoin has again bounced up strongly from support at $7,800, neutralizing the immediate bearish view. Prices could now rise toward $8,800 in the next few days, as one intraday chart is reporting a bearish channel breakout. The outlook would turn bullish only if prices find acceptance above the Oct. 11 high of $8,820, invalidating lower-highs setup. Full story QUEUE HACKERS: Three students from Malla Reddy Engineering College for Women designed a blockchain-based voting system as part of a 24-hour hackathon, reports The Hindu Business Line on Monday. The group, which took home first prize, has been asked to meet with the State Election Commission to trial the idea in “gated communities.” Shivani said the system may improve voting turnouts by allowing citizens to skip long queues by casting votes online.  WHO WON #CRYPTOTWITTER   Copyright © 2019 CoinDesk, All rights reserved.  Our mailing address is:  250 Park Avenue South New York, NY, 10003, US  Want to change how you receive these emails? You can update your preferences or unsubscribe from this list

Russian ruble on Binance / Bitmain's mining facility / GoCrypto to expand

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Presented by Subscribe | View in browser Market Watch: Monday trading is proving positive for the market after spending last week in the red. Bitcoin is once again back over $8,000 and Bitcoin Cash has reclaimed fourth place ahead of Tether. Bitcoin: $8,266 (⬆️ 2.86%) // $148.8 billion market cap. Ethereum: $176 (⬆️ 1.41%) // $19 billion market cap. XRP: $0.293 (⬆️ 0.45%) // $12.6 billion market cap. Bitcoin Cash: $232 (⬆️ 5.94%) // $4.2 billion market cap. Top 100 Winner: Bitcoin SV: $105 (⬆️ 14.69%) // $1.8 billion market cap. Top 100 Loser: Aurora: $0.006 (⬇️ 12.32%) // $41 million market cap. Prices are as of 1:02 p.m. EDT.       1. The Russian ruble will be the first fiat-to-cryptocurrency trading option on Binance, according to the platform's CEO Changpeng "CZ" Zhao. Speaking at the Open Innovations 2019 conference in Moscow, Zhao stated that fiat options are on their way. He went on to say that in around two weeks Binance should have support for the Russian ruble as well. The announcement follows on from news that it was listing a new token on Binance pegged to Bitcoin Cash. The BCH-1FD token will be tradeable on Binance DEX, which, according to the platform, will provide more trading options for DEX users. –COIN DESK Why It's Important: This is a significate step for the platform as up until now it has only supported crypto-to-crypto trading.       2. Chinese crypto hardware manufacturer Bitmain has opened what it claims to be the "world's largest" Bitcoin mining facility in Texas. In a press release, the company said that it had fulfilled its commitment to build the initial 25MW mining farm in Rockdale. It will continue the construction of the 50MW farm, which can expand to 300MW facility, making it the biggest in the world, as per the announcement. Rockdale Mayor, John King, said that Bitmain will be the future for developing new industrial projects in the city. –YAHOO! FINANCE       A MESSAGE FROM ODOO New Conference: Odoo Connect 2019 [Business Software]   Business leaders, entrepreneurs, CEOs/Founders, IT professionals, and developers from around the world come together for 3 days of workshops, presentations, and business software demos to help businesses connect their teams and scale their growth. Inside subscribers are invited to get a free pass! Free Pass   3. GoCrypto, a crypto payment infrastructure provider, is now available in 530 stores across Croatia and Slovenia. Having succeeded Eligma's Elipay, GoCrypto is now setting its sights on other parts of Europe, namely Bulgaria, Serbia, Switzerland, Turkey, and the U.K. According to the company, payments are processed straight away while merchants can enjoy low transaction fees. GoCrypto has said that there are around four million potential customers in those countries and with the likes of Facebook and Walmart exploring stablecoins, the awareness of crypto among the public will grow. –COINTELEGRAPH       4. Three computer science students from the Malla Reddy Engineering College for Women have created a blockchain-based voting system that enables them to vote online. The idea behind the creation is to reduce voting challenges that many often face in urban areas such as long queues at polling stations. The system has been tested and, reportedly, showed a good level of security and resistance to tampering. –THE HINDU BUSINESS LINE       5. Mitsubishi Research Institute (MRI) and a railway company based in Osaka are issuing a local cryptocurrency in Japan's popular Mie Prefecture. According to the MRI, the currency, called the Kintetsu Shimakaze Coin, will be using the blockchain and will be available from November 11 to January 31. During the trial, only 15 establishments in the region of Ise-Shima will accept the coin. –MRI       6. Mayalan Banking Bhd (Maybank) has signed a memorandum of understanding (MoU) to use Cambodia's central bank's blockchain system for remittances. Maybank is to work with the National Bank of Cambodia (NBC). Maybank Malaysia, Maybank Cambodia, and NBC will look at how funds can be transferred between Cambodia and Malaysia using the NBC's blockchain-based system. Chea Seray, the assistant governor and the director-general of the central bank at@ NBC, said that this will boost payment systems at both national and international levels. –THE EDGE MARKETS       7. A California man is suing wireless service company AT&T for allegedly allowing the loss of $1.8 million, including crypto, in a SIM-swap. According to a lawsuit, employees of the firm permitted unauthorized access to the man's phone to hackers between May 16 and May 18. As a result, thieves were able to gain access to his personal and digital finance accounts and steal $1.8 million. They also reset his crypto account passwords for exchanges such as Bitfinex, Bittrex, Coinbase, and HitBTC. –COINTELEGRAPH       8. India's finance minister Nirmala Sitharaman has said that India is taking a "cautious" approach to Facebook's proposed Libra stablecoin. Speaking in Washington at the annual International Monetary Fund (IMF) and World Bank meeting, Sitharaman said that "countries were cautioning into rushing into [Libra]." His words come at a time when the stablecoin is facing negative backlash from global regulators and when the country's central bank, the Reserve Bank of India (RBI), has banned the use of cryptocurrencies. –THE NEW INDIAN EXPRESS       9. The Argentine Citrus Federation is the latest to use the blockchain to trace fresh fruits. The federation's president, José Carbonell, said that the decision "adds value to the product." Not only that, but the federation sees the blockchain helping Argentina to become a leader in the citrus industry. –FRESH FRUIT PORTAL       10. Tom Lee, managing partner and head of global research at Fundstrat, has said that "it's possible" the crypto market is slowing bleeding itself to death. On Twitter, the "unpopular opinion" that Bitcoin has had its glory day and the market is slowing drying up while exchanges, early adopters, and devs all made their money was stated. Replying to this, Lee simply said: "it's possible." –@york780       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).       Ad Want to attend Odoo Connect? Visit the event page to get a free ticket at odoo.com/inside

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