Thursday, January 9, 2020

Bitcoin Sign Guy Returns

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January 9, 2019
SIGN GUY RETURNS: Urbit, a highly ambitious cloud computing project that imagines nothing less than a rewiring of the internet, finally plans to ship after years of trickling development. It’s also added an iconic crypto personality to its roster of developers: “Bitcoin Sign Guy,” who made headlines in 2017 as a 22-year-old holding up a “Buy Bitcoin'' sign behind then-Federal Reserve Chair Janet Yellen. Full story

NUCLEAR RENTALS: A state-owned nuclear power plant in Russia may soon fuel a bitcoin mining hub. Rosatom State Atomic Energy Corporation has opened a mining farm near the Kalinin nuclear plant 200 miles northwest of Moscow. Rosenergoatom isn’t planning to mine itself, but will sell electricity to heavy users and rent space for their equipment. Full story

HIDDEN RESERVES: Stronger privacy is coming to the largest stablecoin. At 11:27 UTC on Jan. 7, Tether conducted a cross-chain swap of some $15 million-worth of its USDT token from ethereum to Blockstream’s Liquid, a federated sidechain running parallel to the bitcoin blockchain. Thanks to a privacy tool that blinds asset values on public ledgers, these tethers may never see public light again. Full story

CONFERENCE CHARGE: Ethereum developer Virgil Griffith has been indicted over allegations relating to an event appearance in North Korea last April. Griffith has been charged by a grand jury in New York with one count of conspiracy to violate the International Emergency Economic Powers Act and faces up to 20 years in jail if found guilty. Full story

RALLY RETURN? Bitcoin has dropped nearly 6% from seven-week highs seen on Wednesday. Even so, the outlook remains bullish with key support near $7,600 intact. Moreover, it's been a low-volume pullback and could be reversed, so the path of least resistance remains to the higher side. Full story

NAKAMOTO CONTROVERSY: In today’s Markets Daily podcast, Adam B Levine and Brad Keoun dig into the controversy surrounding Nakamoto.com, a general interest crypto journal, following its Jan. 3 launch. Nakamoto’s contributors – including founder Balaji S. Srinivasan – say they are “pro-BTC for the long term,” though skeptics see the publication as using bitcoin’s brand to promote alternative cryptocurrency projects. Full story

WHO WON #CRYPTOTWITTER
 

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US, Iran tensions / Bithumb's blockchain investment / INTERPOL reduces cryptojacking by 78%

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Market Watch: The industry saw a slight rise in market prices this week. Bitcoin was once again trading over $8,000, with some speculation that tensions between the U.S. and Iran were the main driver behind the increase.

  • Bitcoin: $7,937 (⬇️ 4.79%) // $144 billion market cap.
  • Ethereum: $138 (⬇️ 3.08%) // $15.1 billion market cap.
  • XRP: $0.206 (⬇️ 3.49%) // $8.9 billion market cap.
  • Tether: $1.00 (⬇️ 0.10%) // $4.6 billion market cap.
  • Top 100 Winner: Lisk: $0.664 (⬆️ 18.02%) // $80 million market cap. 
  • Top 100 Loser: Bitcoin Gold: $5.84 (⬇️ 10.98%) // $102 million market cap.

Prices are as of 11:50 a.m.. ET. 

     

1. Tensions between the U.S. and Iran are proving to be opportunistic for Bitcoin traders. That's according to this report. Following Tehran's retaliation against airbases housing U.S. forces in Iraq, the price of Bitcoin seemingly appeared to rise as a result, pushing itself toward $8,400. It has since dropped back below the $8,000 mark. Yet, despite the threat of further bloodshed, many in the crypto space are cashing in on rising prices. One such trader stated that as she wasn't responsible for the airstrikes or the missiles, she wasn't doing any harm in making a profit out of her positions. Another simply said: "if it's making me money I don't care. More bombs, more missiles, more international disruption – it all helps me to decide when and where I place my trades and I have no problem with it." –EXPRESS

     

2. South Korean crypto exchange Bithumb is reportedly set to invest around $8.6 million in Busan city's "regulation-free" zone to aid the development of blockchain. Later this month, Bithumb and the country's Financial Services Commission are to discuss more about the investment. However, with the money, the platform will be able to launch several blockchain-based financial services in the city. In August of last year, Busan was declared a "regulation-free" area by the ministry for the development of the blockchain. –THE BLOCK

     
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3. Throwback Thursday: Hal Finney receives 10 Bitcoin from Satoshi Nakamoto

The first receiver of Bitcoin was Hal Finney, a computer scientist, who many believe was Satoshi Nakamoto, the unknown creator behind the cryptocurrency. On its release date, Finney downloaded the Bitcoin software, and on January 12, 2009, he received 10 Bitcoin from Nakamoto.

Back then, the total amounted to very little but today, 10 Bitcoin would be worth over $78,000. Finney died in 2014 due to complications of ALS. His body was later cryopreserved by the Alcor Life Extension Foundation.

A year later, Nakamoto disappeared from the space; however, it's believed that he mined around 1 million Bitcoins before doing so. Before leaving, Nakamoto handed the control of the code repository over to Gavin Andresen, a software developer.

Throwback Thursday: Hal Finney receives 10 Bitcoin from Satoshi Nakamoto
     

4. Government agency INTERPOL has helped to reduce cryptojacking across South-East Asia by 78 percent by working with cybersecurity company Trend Micro. Cryptojacking is a malicious activity that involves infecting a victim's computer with cryptomining malware to then use the system's resources to mine cryptocurrency. In this instance, Trend Micro worked with INTERPOL's Global Complex for Innovation based in Singapore to clean MikroTik routers that were affected. As part of Operation Goldfish Alpha, Trend Micro developed a Cryptojacking Mitigation and Prevention guidance document, which detailed how a vulnerability in MikroTik routers had exposed countless users in the region to the risk of compromise by cryptomining malware. –TREND MICRO

     

5. A crypto trader has poured water on the dreams of XRP ever making a fortune. Bitcoin Macro took to Twitter to voice their opinion on the altcoin and where it's heading. In a vivid tweet, the trader wrote: "If you think that 1 XRP will be worth $10k one day, then the best part of you definitely ran down your mother's legs." –@BTC_MACRO/TWITTER

     

6. The Binance Charity Foundation is donating $1 million worth of BNB tokens to the Australian Bushfire Donations project. In a blog post, Changpeng Zhao, Binance CEO, said: "It is painful to see the bushfires burning across Australia as well as the devastating effects on the ecology and local community." All funds raised will be used to help alleviate the impact that the bushfires have created. –BINANCE

     

7. Crypto lending platform BlockFi has added support for two new assets: Litecoin and USD Coin (USDC), which is the dollar-backed stablecoin from crypto platform Coinbase. This means that users will be able to trade and receive loans and interest with these assets. Other coins available on BlockFi include Bitcoin, Ether, and the Gemini Dollar (GUSD). –COINTELEGRAPH

     

8. CoinCover, a Cardiff-based company that provides comprehensive cover for a person's crypto, believes that it has created one of the first crypto wills. CEO David Janczewski says that it's unsurprising that people have taken their assets to the grave with them. According to research, up to 3.8 million Bitcoin worth around $30 billion has been lost. –BBC

     

9. South Korean crypto platform Bithumb has created its own research and development center. According to an announcement from the organization, it is the first company to have a crypto and blockchain research center in the country. As such, Bithumb has high hopes for its plans, stating that it will "become a leading company in the blockchain and cryptocurrency ecosystem by strengthening its own R&D capabilities." –BITHUMB

     

10. Law enforcement requests to crypto exchange Kraken hit their ever highest level in 2019, reaching 49 percent to 710 requests. This is compared to 475 in 2018. The data was presented by the company via a tweet yesterday, which also showed that 1,222 accounts on the exchange had been impacted in 2019. –@KRAKENFX

     

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.

 

     
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