Wednesday, March 20, 2019

XRP Army Exposed / Alt-Right Extremists / Bitcoin Dominance / Facebook Coin

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$BTC (2:38 p.m. EST): $4,060.35 (-0.28%) // 90-day high: $4,238.41 // 90-day low: $3,286.14 / / More

$BCH ABC (2:38 p.m. EST): $159.32 (-1.94%) // 90-day high: $218.09// 90-day low: $80.95 // More

$ETH (2:38 p.m. EST): $139.42 (-0.69%) // 90-day high: $160.13 // 90-day low: $86.08 // More

$LTC (2:38 p.m. EST): $60.14 (0.05%) // 90-day high: $62.08 // 90-day low: $22.09 // More

$XRP (2:38 p.m. EST): $0.31 (0.90%) // 90-day high: $0.43 // 90-day low: $0.28 // More

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1. The so-called XRP Army, which has worked social media to transform public opinion of XRP, is nothing more than a bunch of bots and fake Twitter accounts, researchers said. The army has grown in recent months, shamelessly promoting XRP use cases and growth. The members, though, are not real users excited about the technology but orchestrated bots working together to simulate grassroots support. Geoff Goldberg, a New York-based researcher, provided evidence in a series of tweets. Goldberg added that he did not know if Ripple was behind the effort but believed it was a strong possibility. –ETHEREUM WORLD NEWS

The XRP Army is a fraud, researchers say
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2. Alt-right extremists love to promote the use of bitcoin, but in this fascinating article from David Gerard, very few of these organizations have used it successfully as a funding mechanism. The subject gained new attention lately when Brenton Harrison Tarrant, the mastermind of the terrorist attack in New Zealand that killed 50 people, said in his manifesto he did well investing in crypto, specifically a collapsed Ponzi scheme called Bitconnect. While this is likely false for reasons Gerard points out, he highlights an obvious, if not sometimes forgotten, truth: "Bitcoin … failed for the neo-Nazis as a funding channel, because cryptocurrency is still too hard to use." –FOREIGN POLICY

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3. The recent rise in altcoin prices may drop bitcoin's market dominance below 50 percent for the first time in seven months. Bitcoin currently accounts for 50.9 percent of the entire cryptocurrency market. That number has fluctuated wildly in recent years. Before 2017, bitcoin accounted for more than 70 percent of the market but fell to 32 percent in early 2018 during the tail end of the crypto boom. It has been above 50 percent since August 11 of last year. Bitcoin has remained relatively stable since December while altcoins – like enjin, binance coin, and litecoin – have all seen significant growth. –COINDESK

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4. Facebook's cryptocurrency could bring the social network as much as $19 billion per year in additional revenue, said Barclays analyst Ross Sandler. In a note to customers, Sandler said he could see a base case of $3 billion in revenue from a successful crypto implementation with the potential for much more. "Merely establishing this revenue stream starts to change the story for Facebook shares in our view," Sandler said. While little is known about the project, others believe the use of blockchain could help Facebook rid its platform of "fake news." –CNBC

Facebook Coin may bring in $19b
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5. Yessi Bello Perez takes an interesting stand at The Next Web, arguing that it is no longer news that large companies accept bitcoin payments, especially if consumers still rarely use the currency. –THE NEXT WEB

6. The hit HBO documentary on the rise and fall of Silicon Valley startup Theranos had a breakout star: Investor Tim Draper's bitcoin tie. –BITCOINIST

7. A Reddit user posted an email from some scammers pretending to be from the CIA. They promise to drop upcoming charges in exchange for bitcoin. –THE NEXT WEB

8. Digitec-Galaxus, known as the Amazon of Switzerland (for whatever that is worth), can now buy goods from the online retailer with cryptos ranging from bitcoin and ethereum to OmiseGo and NEO. –BITCOINIST

9. Bitcoin.com highlights Nash, the next generation of decentralized cryptocurrency exchange that promises improved UX and simplified trading experience. –BITCOIN.COM

10. Bitcoin SV and Qtum partnered with Zeux to allow in-store crypto payments with either Apple Pay or Samsung Pay. –DAILY HODL

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Written and curated by David Stegon who is sad his Temple Owls are no longer dancing. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside) and Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram).

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March 20, 2019
$25 MILLION: BlockFi officially launched an interest-bearing crypto deposit account earlier this month – and the product is fast gaining traction. According to CEO and founder Zac Prince, users have already deposited more than $35 million in cryptocurrency (around 80 percent of it in bitcoin) into their interest-bearing accounts since beta testing began in January. Of that, $25 million was gathered after the March 5 launch. The product entices investors with returns of up to 6.2 percent annually for holding their bitcoin or ether. Full Story

FINANCE FEEDS: Two cryptocurrency benchmark indices from data provider CoinMarketCap will launch today on financial data feeds from Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart, as well as on its own platform. CoinMarketCap said the indices will be the “most comprehensive” crypto data offerings for the markets, covering the top 200 cryptocurrencies by market capitalization, one including bitcoin (BTC) and the other without. The data site partnered with Germany-based provider of financial indices Solactive for the effort. Full Story

JUST IN CASE: Casa has rolled out “Faraday bags” for hardware cryptocurrency wallets – protective cases made to block electronic signals often associated with remote wiping or alteration of the data stored on hardware devices. “We wanted something that would protect the device from a wide variety of potential risks, water, dust, etc., and also anything electronic, wireless signal, GPS, bluetooth, any kind of radio signal all the way up to and including any potential EMP [electromagnetic pulse] blasts,” Casa CEO Jeremy Welch told CoinDesk. Full Story

LITE SHOPPING: Cryptocurrency exchange Binance has unveiled a new platform in Australia that allows users to buy bitcoin with cash from high-street stores. Binance Lite Australia, as it’s been dubbed, allows bitcoin purchases through a network of 1,300-plus supported newsagents across the country. While users can only buy the cryptocurrency with Australian dollars right now, the exchange said it plans to support more cryptocurrencies and fiat options in the future. Full Story
BULL TARGET:  Bitcoin's stalled recovery rally from the lows near $3,650 could gather pace if resistance at $4,040 is scaled. That would validate a bullish outside reversal candle created in the three days to March 16 and open the doors to recent highs near $4,200. Right now, though, it's proving a tough nut to crack. Full Story​

BEST OF THE BEST

ZOMBIE MALWARE: A Trojan-style malware variant called Cardinal RAT that was first spotted in 2017 is back from the dead and targeting fintech and cryptocurrency trading software firms in Israel, according to The Next Web. The malware appears to have evolved to have new features that help it “evade detection and hinder analysis,” Palo Alto Networks’ Unit 42 said in a report. Cardinal RAT uses data hidden in a Bitmap (BMP) image file that looks harmless, but embeds its malicious code when opened in an attempt to steal passwords, usernames and other data.

THE REST

EXPANDING LUNIVERSE: Dunamu, the fintech arm of Korean messaging app giant Kakao, has launched a blockchain-as-a-business platform called Luniverse. Korea JoongAng Daily reports that the platform is aimed to help businesses that might struggle to develop blockchain-based services independently. For the offering, Dunamu has partnered with third-party firms to provide blockchain apps and solutions across different areas such as healthcare or gaming.

BLOCKCHAIN TRILLIONS: Organizations today are increasingly faced with challenges over the need to manage data and transactions among numerous untrusted parties. And that presents an opportunity for blockchain, according to a new report from tech giant Cisco. With blockchain’s ability to provide transparency and security, and to remove complexity by doing away with middlemen, the tech is expected to “deliver efficiencies and new business value in excess of $3 trillion by 2030,” the report says.

WHO WON #CRYPTOTWITTER

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