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Tuesday, September 4, 2018
Stress Test / Silk Road Funds / Sahara / K-Pop
Vitalik vs. freeloaders
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Silk Road wallet active?
| September 4, 2018 | Read in Browser |
BROUGHT TO YOU BY
 QUOTE OF THE DAY  |
| “Cryptography shifts the balance of power from those with a monopoly on violence to those who comprehend mathematics and security design.” - Jacob Applebaum |
| COIN | PRICE | 24H |
| | ||
| BTC | $7,358.41844 | +1.27% |
| | ||
| ETH | $288.729974 | -0.26% |
| | ||
| XRP | $0.337218 | -0.24% |
| | ||
| BCH | $640.520833 | +1.84% |
| | ||
| EOS | $6.561562 | +1.34% |
| | ||
*Information as of 9:30 AM EST
Bitcoin Cash walked the walk
110,000 Bitcoin Wallet Awakens After Remaining Dormant for 4 Years
TRACKING THE ORIGINS
- Reddit user sick_silk revealed a full investigation yesterday concerning the movement of a 110,000 Bitcoin wallet that has remained dormant since 2014
- According to the investigation, sick_silk believes this wallet was connected with Silk Road and Ross Ulbricht due to a 2013 post on a Bitcoin forum
- If true, the wallet would now contain over $800 million worth of Bitcoin, however, the coins have moved
RECORDED MOVEMENTS
- To make tracking the Bitcoin harder, the owner of the origin wallet split the coins and sent the coins to two different wallets and continued doing this until all wallets had only 100 Bitcoin in each
- To understand the depth of the wallet movements, sick_slick visualized the data on a graph that can be seen here
- In this graph, recent transactions under one-month-old are red, transactions within the year are blue, and all other transactions are green
SELLING SPREE
- Now, Bitcoins which started at the origin wallet are being sent to Bitfinex, Binance, and BitMEX
- So far, sick_slick has tracked 15,593 Bitcoin that have been sent to the exchanges with 11,114 being sent to Bitfinex, 4,421 being sent to Binance, and 210 being sent to BitMEX
- If this wallet owner is finally selling off their Bitcoins, it could provide strong selling pressure on the market
- So far, however, Bitcoin rallied since the time of sick_silk's Reddit post as the digital currency jumped above $7,300 despite fears of a possible mass sell-off
Google Adds Ethereum as a Dataset to Big Data Analytics Platform
BIGQUERY
- Google announced via its own blog post that it is has added Ethereum's blockchain as a dataset for its BigQuery platform
- BigQuery is a feature of Google Cloud that can store and analyze petabyte-scale data
MAKING THE DATA ACCESSIBLE
- Google's goal for the addition is to make the data stored on Ethereum's blockchain easily decipherable
- There is an incomprehensible amount of data on Ethereum's blockchain and it is difficult for the average person to retrieve the information they are interested in
- Now with Google's help, blockchain enthusiasts can easily parse through Ethereum's data
EXAMPLE QUERIES
Using Google's service, you can now easily see that CryptoKitties is by far the most popular ERC-21 smart contract:
This graph shows nodes that transact often with one another:
Long Time Bitcoin Proponent Andreas Antonopoulos Says a Bitcoin ETF is Inevitable But We Shouldn't Get Too Excited
ETF COMING
- Andreas Antonopoulos who has been a long time supporter of Bitcoin has recently said that a Bitcoin ETF is inevitable
- The SEC has already denied many Bitcoin applications, but many of these were expected and experts seem to agree one will be approved during the next year
- Antonopoulos acknowledges that the establishment of a Bitcoin ETF will have a positive impact on the price of the asset because it will make it more accessible to more investors, increasing the demand for BTC
NOT GOOD FOR THE MISSION
- Antonopolous does think that a Bitcoin ETF is coming, but he is not looking forward to its approval
- One reason is that he thinks that an ETF will make BTC more prone to price manipulation
- Another reason why Antonopolous criticizes a potential ETF is that ETF investors will not have actual ownership of the BTC they are investing in
Antonopolous explains this predicament:
“ETFs fundamentally violates the underlying principle of peer-to-peer money, where each user is not operating through a custodian but has direct control of their money because they have direct control of their keys”.
China's Industrial and Commercial Bank Will Welcome Blockchain Technology
DIVING INTO BLOCKCHAIN
- Reported by BiaNews, a chairman of the Industrial and Commercial Bank of China (ICBC) revealed the bank will focus on blockchain technology
- Chairman Yi Huiman announced the bank will focus on finding ways to improve "smart banking" by using a multitude of technologies including artificial intelligence, internet of things, and blockchain
- Further, ICBC is looking to use blockchain to secure data shared with third parties and to improve service in the financial ecosystem
BIGGEST BANK
- ICBC is reportedly the largest bank in China with over 5,000 corporate and 530 million personal customers
- In 2017, the bank was exploring blockchain when it announced it was examining the construction of “accelerated deployment in the field of financial technologies”
- In the past the bank has filed blockchain-related patents to increase efficiency in its business and even launched a blockchain supply chain platform earlier this year
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- Japanese crypto firm FXcoin recruited Deutsch Bank’s former foreign-exchange dealer, Yasuo Matsuda, as a senior strategist for the cryptocurrency startup.
- Bitcoin's MACD histogram turned bullish for the first time since January.
- Singapore-based investment company Temasek has officially denied involvement in the cryptocurrency mining giant Bitmain’s IPO.
Today in Crypto is powered by coinmarketcal.com
Smart Contract
noun
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
 |
| Themis (GET) |
|---|
| Themis is a trusted blockchain infrastructure based on group hosting protocols that solves the problem of fair exchange with digital assets and helps build a new generation of trust networks. |
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Monday, September 3, 2018
Bitcoin Cash walked the walk
| September 3, 2018 | Read in Browser |
| QUOTE OF THE DAY |
| “All the benefits in life come from compound interest — money, relationships, habits — anything of importance.” - Naval |
| COIN | PRICE | 24H |
| | ||
| BTC | $7,278.471329 | +0.6% |
| | ||
| ETH | $290.453971 | -0.58% |
| | ||
| XRP | $0.340647 | +0.1% |
| | ||
| BCH | $630.640473 | +0.69% |
| | ||
| EOS | $6.493915 | +1.35% |
| | ||
*Information as of 9:30 AM EST
Bitcoin Cash walked the walk
Bitcoin Cash Completes Stress Test With No Surge in Fees
COMMUNITY STRESS TEST
- According to the website, the Bitcoin Cash (BCH) stress test is a community-driven event
- During this event, millions of minimum fee transactions are processed to prove Bitcoin Cash has a high capacity and is scalable
- The stress test also provides data for developers and businesses who are looking to use the digital currency
THE RESULTS ARE IN
- As a result of the stress test, on September 1st, Bitcoin Cash transactions amounted to 63% of all cryptocurrency transactions
- During the stress test, the Bitcoin Cash network experienced up to 14,300 transactions per block while the usual average rate is only 90 to 150 transactions per block
- In addition, transaction fees did not seem to increase significantly during the stress test and fees currently stand around $0.002
HOLD YOUR BREATH
- Despite a successful stress test completion, Bitcoin Cash has seen payments drop from $10.5 million in March to $3.7 million in May, according to Chainalysis
- Also, Satis Group recently forecasted that Bitcoin Cash will drop as low as $268 due to "minimal technological advantage to incumbents"
- However, following the successful stress test, Bitcoin Cash was among the top 20 performers in the cryptocurrency market with a 3% bump in 24 hours and a 19% increase in the last week
Bitcoin ATM Market Will Be Worth $145 Million By 2023, According to Report
ADOPTION GROWING
- A study conducted by business-to-business research firm MarketsandMarkets predicts that the global Bitcoin ATM market will be worth an upwards of $145 million by 2023
- MarketsandMarkets study attributes the growth in Bitcoin ATMs to increasing adoption of the cryptocurrency
- A value of $145 million by 2023 represents a 54.7% compounding annual growth rate over the next five years
- Currently, there are 3,650 Bitcoin ATMs across the globe which are estimated to be worth $16.3 million
NORTH AMERICA DOMINATING
- North America is home to a majority of existing Bitcoin ATMs with 73% of the global market share
- The report suggests that North America will continue to lead the way over the next five years, with the US leading the way
The report discusses North America:
“The US is expected to continue to dominate the crypto ATM market during the forecast period owing to the presence of a large number of crypto ATM hardware and software providers and favorable investment environment (without any legal barriers). In 2017, the Government of Mexico declared bitcoin legal, and it would be regulated by the Fintech Law. In addition, Canada has recorded extensive start-up activity, especially for cryptocurrency.”
Indiegogo Founder Says Security Tokens Will Become the Norm
Slava Rubin, founder of the crowd-funding platform Indiegogo recently spoke with CCN, here are some of his comments related to the cryptocurrency market:
STO
Rubin spoke about how the regulatory landscape will change and how security token offerings will become more prevalent than initial coin offerings:
“In 2018, we’ve seen regulators, especially here in the US, take a more proactive approach toward understanding and regulating these offerings to make sure interests between investors and companies are aligned. As guidance has become clearer around how to do these offerings legally, there’s been a real shift in the desire for security tokens, as they offer a natural bridge between the crowdfunding element of an ICO and the regulatory clarity of a securities offering. We predict a rise in the potential and demand for tokenized securities, because digital ownership on the blockchain provides so many advantages over legacy investments, and tech-savvy investors are seeing the value proposition in real time. This addition to our business is just a natural extension of our vision for a crowd-financed world.”
WALL STREET PRESENCE
- Rubin explained that Wall Street entering the market will only bring further legitimacy to the industry
When asked about the initiatives to create a Bitcoin ETF, Rubin responded:
“It’s not for us to say whether they are good or bad, but we are supportive of many different projects that are aimed at helping bring new and outside interest to our budding industry.”
Alibaba and IBM Have Filed the Most Blockchain-Related Patents in the World
MAKING THEIR MARK
- New reports released Friday by iPR Daily show that Alibaba is leading the world with 90 blockchain-related patents
- IBM was a close second with 89 blockchain-related patents filed, Mastercard was third with 80 blockchain-related patents, and Bank of America took fourth with 53 blockchain-related patents
- Perhaps the most notable contender on the list is China's central bank the People's Bank of China (PBoC) with a total of 44 blockchain-related patents
FEATURED DEVELOPMENTS
- Though the number of patents filed shows significant interest in blockchain technology, it doesn't show the full story of blockchain integration plans
- Recently, Alibaba used one of its patents to launch a payment corridor for Hong Kong and Philippines residents that will settle transactions on a distributed network
- Next, Tencent recently piloted a program on its WeChat messaging app using blockchain to make the process of reimbursing employee expenses more efficient
- Western Union might be exploring settlement using Ripple in its new pilot program.
- Bitcoin short positions have been ranging near their all-time highs during the past month as traders take caution for another drop.
- Internet search giant Google has added ethereum to its big data analytics platform BigQuery.
Today in Crypto is powered by coinmarketcal.com
Masternode
noun
Master nodes are full nodes that incentivize node operators to perform the core consensus functions of running a blockchain.
 |
| Leverj (LEV) |
|---|
| Leverj decentralizes the most desirable features of derivatives trading by implementing them in cryptocurrencies and eliminating points of friction. With a tight focus on derivatives trading and the supporting ecosystem, Leverj has taken the approach of defining the product first. We have built a functioning exchange with a usable UI (user interface), decentralized identity, and provable audit. We plan to decentralize the back-end and add ecosystem features that will enable large players to move into the cryptocurrency world. |
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