Ethereum Plunge / Roger Ver / Communist / Fantasy Football

Subscribe | View in browser Here are today's ten most important Bitcoin stories, efficiently ranked & summarized by smart humans, not algorithms: $BTC (1:35 p.m. EST): $6,094.53 (-2.95%) // 90-day high: $8,362.59 // 90-day low: $5,755.25/ / More… $BCH (1:35 p.m. EST): $486.85 (-10.80%) // 90-day high: $1,663.91// 90-day low: $486.85 // More… $ETH (1:35 p.m. EST): $259.88 (-11.74%) // 90-day high: $790.72 // 90-day low: $259.88 // More… $LTC (1:36 p.m. EST): $51.66 (-9.83%) // 90-day high: $162.87 // 90-day low: $51.66 // More… $XRP (1:36 p.m. EST): $0.26 (-9.48%) // 90-day high: $0.86 // 90-day low: $0.22 // More… Here are the 10 most important stories about bitcoin and cryptocurrencies today       1. Ethereum hit its lowest price in nine months as the cryptocurrency market struggled again early Tuesday. Ethereum fell below $300 while bitcoin briefly dipped below $6,000 per coin. Ethereum has lost approximately 30 percent of its value in the last month as altcoins, in general, have struggled to keep their price. Bitcoin cash dropped significantly as did XRP. –COIN TELEGRAPH       Cryptocurrency trading made human: One platform. All your exchange accounts. Sign up Free for early access Quadency is a unified crypto asset trading platform for both active traders and long term investors. Manage your holdings across exchanges and say goodbye to missed opportunities with a holistic, real-time portfolio dashboard AND advanced trading features built right in. For an ad-free experience, upgrade to Inside Premium       2. Bitcoin.com CEO Roger Ver hinted at a possible ICO. The mention comes after his site unveiled a new tool that allows developers to issue tokens on the bitcoin cash blockchain. Ver said in a video that the creation of the Wormhole Cash protocol, which allows for token creation on bitcoin cash, would create new opportunities for developers, including for his site. –COIN TELEGRAPH       3. The Communist Party of China has released a primer on blockchain. The book will serve as a guide for Chinese government authorities to understand the concept of distributed ledger technology, along with how they can consider the benefits and challenges of adopting blockchain on a national scale. -COIN TELEGRAPH       4. Square will now allow customers in all 50 states to buy and sell bitcoins via its Cash App. The service launched earlier this year but was not available in New York, Georgia, Hawaii and Wyoming due to their more restrictive regulation regarding bitcoin transactions. Square recently received a "BitLicense" in New York, and had previously worked with regulators in Wyoming to get its service approved the state. The company did not say what conditions it had to meet to offer trading in Georgia and Hawaii. –COINDESK       5. A fantasy football league will use blockchain in an effort to keep competitors honest, as they compete for prize money. Known as the Crown League, the competition will use blockchain to maintain the integrity of transactions, standing and payments. It is being started by Dan Nissanoff, a 52-year-old businessman who thinks the league could one day replace traditional fantasy league. -CNN       6. A team at Northwestern is testing a solution that could help bitcoin scale. The team, working in conjunction with BioXroute Labs, has created an infrastructure that compresses the information on the blockchain before sending a transaction, allowing it to move faster. By doing so, the group wants to more directly send transactions within the decentralized network, essentially increasing the block size to speed up transactions. –MARKET WATCH 7. The Winklevoss twins continue to plow ahead with the Gemini Exchange while working on a bitcoin ETF. The brothers believe Wall Street will one day accept bitcoin, it is just taking longer than expected. –NEWS BTC 8. Noted crypto researcher Nick Szabo said a bitcoin ETF may be more trouble than it is worth. Szabo believes an ETF would bring in new investors who would add to the volatility of the market. -BITCOINIST 9. The South Korean government will invest $4.4 billion in eight sectors, including blockchain. The money will be used to support companies creating innovative technologies that can hopefully grow and create jobs. –COIN TELEGRAPH 10. An analyst believes the Bakkt venture from Starbucks and Microsoft could make bitcoin more mainstream. Any project that brings the concept of cryptocurrencies as a payment vehicle will help overall growth, especially one of this size. -FORBES       From the Forums Beware of Etherescanner.app. A message from Charlie Lee. About bitcoin dipping below $6K.       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: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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#78: Searching for meaning in a cryptocurrency price cascade

Living on the edge

Chain Letter Blockchains, cryptocurrencies, and why they matter 08.14: Living on the edge Welcome to Chain Letter! Great to have you. Here’s what’s new in the world of blockchains and cryptocurrencies.  Has the shine finally worn off the cryptocurrency industry? The cryptocurrency marketplace had a terrible day yesterday, with most of the top 30 coins losing more than 10 percent of their value. What’s going on? Is the ICO bubble finally popping for real? Are investors giving up on Ethereum? What does it all mean for Bitcoin? Decent questions, but if you are looking for definitive answers, this isn’t the place to find them. Maybe try crypto-Twitter (Warning: has been known to cause cognitive dissonance). And don’t forget the bigger picture: cryptocurrency prices have been taking a beating for months. This year, Bitcoin and Ethereum are down 54 percent and 60 percent, respectively, and many other coin prices have tended to track closely with the market’s two biggest players. That being said, there may be a few things we can pinpoint, most of which have to do with Ethereum. After all, no platform has done more to catalyze the the initial coin offering craze. Last year, hordes of startups rushed to create Ethereum-based digital tokens and sell them—in exchange for ether, of course—to raise money for their projects. Exuberant investors who backed those projects drove the price of ether from just over $10 in early 2017 to over $1300 this past January. Now it appears that some of those projects are cashing out. Investors may also be spooked by the all-too-frequent instances of fraud and security lapses that have occured in the ICO market. And there are doubts that Ethereum will be able to scale up to handle the transaction volumes that would come along with mainstream applications. That narrative makes some sense. But this is crypto—before we know it, the story will change again. The World Bank is betting on blockchain bonds. It’s hired an Australian bank to set up a bond that will be managed via a permissioned version of Ethereum—one of the clearest signs yet that blockchains are going mainstream. A press release describing the project did not say when the new “blockchain operated new debt instrument,” or “bond-i” (apparently named after Australia’s iconic Bondi Beach) will launch, but it claimed that investor interest has been “strong.” The bank, which issues between $50 billion and $60 billion annually in bonds to fund sustainable development in emerging economies, believes that blockchain technology can make the process more efficient by reducing the number of necessary intermediaries. The idea of using blockchains to manage bonds and other similar financial instruments has been gaining traction. In 2015, Overstock issued a blockchain-based corporate bond. Last year, a company in the UK issued a bond using Ethereum’s public ledger. And the city government of Berkeley, California, is exploring the possibility of issuing blockchain-based municipal bonds. A brush with crypto-catastrophe. Bitcoin core developer Cory Fields, a researcher at MIT’s Digital Currency Initiative, has published a detailed Medium post in which he describes his recent discovery of a vulnerability in Bitcoin Cash that “could have been so disruptive that transacting in Bitcoin Cash safely would no longer be possible.” Fields anonymously disclosed the vulnerability, which was promptly fixed and publicly disclosed in May. The whole post is worth reading, but if you are interested in the future of cryptocurrencies, at least take a moment to consider Fields’s sobering takeaway from the episode: “the threat of software bugs is severely underestimated in the cryptocurrency world.” We've brought our mission and journalism to life through EmTech since 1999.     Join us at our flagship event this September to discover where tech, business, and culture converge. Register today! Loose Change Fill your pockets with these newsy tidbits. • Bitmain holds five percent of all Bitcoin Cash in circulation. (Finance Magnates) • A blockchain company plans to build a 900 MW wind farm to power a computing center in Morocco. (Reuters) • Facebook VP David Marcus, recently named the company’s blockchain research lead, is stepping down from the board of Coinbase to avoid a conflict of interest. (CoinDesk) • The US Financial Crimes Enforcement Network (FinCEN) receives more than 1,500 cryptocurrency-related suspicious activity reports every month. (FinCEN) • MIT researchers have proposed a new cryptographic ledger that uses zero-knowledge proofs to better track public law enforcement data requests without disclosing too much information. (MIT News) • Overstock subsidiary tZero, which will launch a regulated crypto-token exchange, has raised $134 million via its own “security token” sale. (CoinDesk) +The next generation of ICOs will actually have to follow the rules. (TR) The Money Quote “There are a couple of forces in this market that if they failed, it would be catastrophic. Tether is one of them.” —Ding’An Fei, a managing partner at Beijing-based digital asset investment firm Ledger Capital, to the Wall Street Journal ($). A recent piece in the Journal takes an in-depth look at the mysterious crypto-token, supposedly backed by US dollar reserves, that has become a “cornerstone” of the cryptocurrency market. We hope you enjoyed today's tour of what's new in the world of blockchains and cryptocurrencies. Send us some feedback, or follow me @mike_orcutt. Know someone who might enjoy reading Chain Letter? Was this forwarded to you, and you'd like to see more? Discover the emerging tech that will change the world. Attend EmTech 2018 September 11-14, MIT Media Lab Cambridge, MA View this in a browser You received this newsletter because you subscribed with the email address: contacto1745.send-mail@blogger.com edit preferences   |   unsubscribe   |   follow us      MIT Technology Review One Main Street Cambridge, MA 02142