📌 Backdoor BTC Plays, Zuck Explains Libra, and Promising ETH Data

June 3, 2020 | Issue #120  MUST READS  Zuckerberg Reveals How Facebook Will Profit from Libra In Facebook's annual shareholder meeting held last week, Facebook CEO Mark Zuckerberg revealed how Facebook can profit from Libra... and the answer shouldn't be a surprise to anyone. Integrated payments = more effective ads = high bids from advertisers.   It's Not About the Tech (Yet?) Let's play a game. Take a look at the price charts of two different cryptocurrencies here. One of them is IOTA, which had a technical problem that resulted in no transactions confirming from February 12 until March 10. The other is Zcash, which had no technical problems. Can you tell the difference? If not, there is a lesson here.   Goldman Pans Bitcoin; Crypto Community Up in Arms Last week, Goldman Sachs (GS) CIO of Wealth Management held a presentation to talk gold and, to everyone's surprise, bash BTC. Here's an overview of what was said, along with some rapid reactions from a few prominent crypto minds. Other good ripostes: WS doesn't care what Goldman Sachs has to say Tuur Demeester providing some background on GS's aging core philosophies What GS gets wrong about BTC (from someone who used to work there)  SPONSORED  Pay Attention to the New War Erupting in America Most Americans think our big divide occurs between our political parties – or between the states and the federal government. But a new and bigger war is erupting in America. It will DEFINITELY affect you and your money... and you must choose which side you'll be on. Porter Stansberry explains everything right here... SPONSOR  DEEP DIVE  A Backdoor Way to Invest in Bitcoin (at a Discount)? We don't give investment advice here at CoinSnacks, but we do like to point out anomalies. One of which has come across our plate recently. It involves a company that we often write about: Galaxy Digital (TSXV: GLXY). Galaxy Digital is a publicly traded merchant bank dedicated to the crypto industry and founded by Mike Novogratz. Why is it worth a second look? It trades for less than book value (at IPO it was trading for 2.5x book value) Novogratz and the company are continuously buying back shares The Company has been conditionally approved to up-list onto the Toronto Stock Exchange (TSX) There is a lot of convoluted share structure involved and, of course, anything could happen... but we aren't seeing this covered anywhere in the media. If you are looking for a backdoor way to "play" Bitcoin, this is worth your attention. Do your own diligence.   The Evolution of Value on Ethereum Here's a solid overview of Ethereum's genetic-makeup and shifting fundamentals by Messari's Ryan Matthews. TL;DR: Ethereum is being used more than ever, and in just two years, Ethereum has evolved from a blank canvas to an agglomeration of novel forms of value and use cases. While we're on the topic, Spencer Noon's analysis is worth checking out as well: 10 signs we're headed for a new ETH bull market   Bitcoin Mining's Three Body Problem Mining is a complex inter-disciplinary phenomenon. While it has grown into a billion-dollar industry over the years, the invisible rules governing every aspect of it remain secretive to outsiders.    SPONSORED  We're Doing Our Part to Help Readers Right Now Just because the market took a hit doesn't mean you can't still find ways to profit. Especially when you can buy any stock… for any amount of money… with zero commissions. You can do it all on the free Public App. Plus, to help you get started, we're giving you up to $20 to invest. Once your account is approved, pick from any one of the 9 top stocks on Public's Free Slice list to get your free slice of stock. Click here to learn more. SPONSOR  REGULATORY FRONT  A Digital Dollar Whitepaper Was Published Led by former CFTC Chairman Christopher Giancarlo, the Digital Dollar Project released a detailed whitepaper exploring a U.S. Central Bank Digital Currency (CBDC). The white paper proposes a tokenized U.S. digital dollar, outlines the benefits of a CBDC in the context of the U.S. dollar (USD), and proposes potential use cases.   Canada Has Given Crypto Firms The Green Light Canada has officially classified Bitcoin companies as Money Services Businesses (MSBs). And Bitcoiners are surprisingly happy about it. In a series of tweets Francis Pouliot, Chief Executive of BitcoinBull, confirms the new regulations coming into effect... and explains what businesses will be affected the most.    TWEET OF THE WEEK  Other Articles You May Enjoy Vitalik on 2008 vs. 2020, and what it means for crypto(currency)   CoinMarketCap revamps market pairs ranking to empower users against volume inflation   Brave browser (BAT) hits a milestone   Howard Marks: Uncertainty II   The number of blockchain investment deals has declined for seven consecutive months   Amid pandemic, crypto crime surges in first 5 months   Blockchain media startup Civil shuts down   Maker DAO's token MKR gets second chance on Coinbase Pro   Biggest crypto gainers in the Top 50 year-to-date   Cryptocurrency documentary to air on Discovery Science Channel   ZRX Token surged 67% in May to become month's top performer   The $10B stablecoin industry has a fraud problem it's not addressing   Bitcoin remains closely correlated with gold The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. The digest is curated by CoinSnacks employees and sent once a week. CoinSnacks | 5500 Military Trail Suite 22-250 | Jupiter, Florida | 33458 Sponsor | Unsubscribe | View in Browser

Quantum model claims to predict BTC price / LocalBitcoins 99% of criminal funds / Crypto Masterclass

Inside Cryptocurrency .

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Hey everyone! Today's newsletter: FF Whale Model claims to use quantum to predict Bitcoin price. LocalBitcoins received 99% of criminal crypto funds in 2019. Crypto Masterclass, featuring Richard Lohwasser, the co-founder and CEO of Lition Energie, who spoke about the use of blockchain in Germany's energy sector. A reminder: If you subscribe to our premium content, you'll receive Inside Cryptocurrency ad-free five days a week, along with features like our daily Masterclass, interviews with crypto experts, and the latest studies and reports on crypto. Right now, we're offering 50% off of our monthly plan (only a few slots left!) if you use the promo code Crypto50. Click here to upgrade to premium! Best, Rebecca

Market Watch Coin prices are mostly in the red during Wednesday trading. Bitcoin has dropped slightly overnight and is down over four percent. Bitcoin $9,598 -4.33% Ethereum $240 -3.29% Tether $1.00 -0.01% XRP $0.203 -3.73% Top 100 Winner: Cardano $0.083 +6.10% Top 100 Loser: Nexo $0.121 -8.61% Prices are as of 3:30 p.m. ET.

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A CipherTrace report shows that ... To find out more, sign up for Inside Crypto Premium. Simply use the code Crypto50 to get 50 percent off. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

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Our Crypto Masterclass features a well-known thought leader or expert in the crypto space. Today, I focus on Richard Lohwasser, the co-founder and CEO of Lition Energie, who spoke about the use of blockchain in Germany's energy sector. "There is a clear need for decentralization in the energy infrastructure on a national level." To get more of Lohwasser's views and receive our Masterclass every day, sign up for Inside Crypto Premium. To take advantage of 50% off on monthly plans, simply use the code Crypto50. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

Ripple's has private meeting with the Central Bank of Brazil. To find out more, sign up for Inside Crypto Premium. Simply use the code Crypto50 to get 50 percent off. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

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Crypto exchange Coinbase has cut USDC stablecoin rewards by 90%, effective today. Since October 2019, when Coinbase launched the USDC (USD Coin) rewards, those holding USDC in Coinbase accounts earned 1.25% annual percentage yield (APY) on their funds. However, that reward has been cut to 0.15% APY. It's not clear as to why Coinbase took the step of reducing the reward but it's in line with other banks and fintech companies. The Coinbase-backed USDC stablecoin, which is fully collateralized by U.S. dollars, and also has support from Circle, was launched in October 2018 and is the second-largest stablecoin - behind Tether's $9.2 billion - with a market cap worth $738 million. DECRYPT

Decentralized blockchain journalism startup Civil has closed its doors. In a post on the platform's website, Matthew Iles, Civil CEO, said that the team and technology have moved to ConsenSys to build identity solutions on Ethereum. Founded in 2016, the aim of Civil was to create a trusted newsroom environment for publishers by staking its CVL token. Users could then spend their tokens to reward publishers or to have a say as to how the platform was governed. However, as IIes points out, Civil was unable to support itself independently despite attracting enterprise interest for use cases on products it had been developing. CIVIL

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.  Editor Edited by Elizabeth Barr, who creates and consumes at the nexus of media and tech. She ran sections and sites at publications such as the Buffalo News, AOL News and the Huffington Post before becoming a software developer, creating content-discovery products like FitPop and Where the Truck. Elizabeth's all-in on newsletters, covering news and pop culture on the sometimes-funny Mediavore.

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