Monday, March 30, 2020

Vitalik Buterin's anti-aging research / Jack Dorsey wants Cash App to deliver COVID-19 package / Binance CEO on why they delisted FTX leveraged tokens

Inside Cryptocurrency .
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Market Watch: Coin prices at the start of the working week are positive with most coins in the green during trading today. Let's hope this continues long into the week! Where do you think Bitcoin will be trading at by Friday?

Bitcoin: $6,277 (⬆️ 2.13%) // $114.8 billion market cap.

Ethereum: $131 (⬆️ 1.56%) // $14.4 billion market cap.

XRP: $0.172 (⬆️ 0.31%) // $7.5 billion market cap.

Tether: $1.00 (⬆️ 0.05%) // $4.6 billion market cap.

Top 100 Winner: Energi: $1.84 (⬆️ 13.60%) // $50 million market cap.

Top 100 Loser: $Steem: $0.164 (⬇️ 6.69%) // $60 million market cap. 

Prices are as of 12:30 p.m. ET.

1. Vitalik Buterin, co-founder of Ethereum, has suggested more research on anti-aging.

The Ethereum co-founder thinks that "Aging is a humanitarian disaster that kills as many people as WW2 every two years and even before killing debilitates people and burdens social systems and families. Let's end it."

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2. Blockstream and Lightning Labs are two companies that are currently leading efforts with funding for open-source Bitcoin and Lightning development. That's according to research published by crypto exchange BitMEX. In a blog post, the company noted that some of the developers behind Blockstream include Pieter Wuille and Andrew Chow, whereas Lightning Labs has the likes of Carla Kirk-Cohen and Oliver Gugger. In third place was Square Crypto, which also provides grants to Bitcoin and Lightning developers. According to BitMEX, the current situation with development is "more healthy" compared to the past regarding availability of finance and transparency. -BITMEX

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3. Jack Dorsey, CEO and founder of Twitter, wants its crypto Cash App to deliver billions of dollars to U.S. citizens rather than the Internal Revenue Service (IRS). Last week, Dorsey took to the social media platform to say that "people need help immediately." He went on to add:

The technology exists to get money to most people today (even to those without bank accounts). Square and many of our peers can get it done. US government: let us help.

His comment came in response to a user who said: "can they just CashApp us the $1,200?" According to an anonymous source, Cash App and fellow payments platform Venmo have reached out to the U.S. Treasury to discuss how they can help distribute the money. As part of the coronavirus rescue package, which was recently signed into law by U.S President Donald Trump, many U.S. citizens will receive a bailout check amounting to $1,200. -@JACK/TWITTER

4. Changpeng Zhao, CEO of crypto exchange Binance, has said that they delisted FTX leveraged tokens because many users didn't understand them. Zhao was talking about leveraged tokens during a series of tweets over the weekend. The move to delist them comes two months after the platform added them. Zhao said:

The main reason for delisting is we find many users don't understand them. Even with pop-ups warning users each time, people still don't read it.

Even though they are the most actively traded tokens, Zhao added that it was "bad for business to delist them." However, he went on to say that protecting users was what came first. If people were still unhappy, they should check back on the price of these tokens in a month's time "and let us know if you still complain then," he concluded. In response to Binance's decision, FTX said in an update, among other things, that: "Leveraged Tokens are complicated products, and Binance doesn't want to manage the user education and customer support for them." -@CZ_BINANCE/TWITTER

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5. Bitcoin Core's website is now available through the dark web, according to a statement.

In a bid to tackle censorship in some countries, Bitcoin Core has moved its website to the dark web.

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6. Tone Vays, a former Wall Street trader and host of Trading Bitcoin, has said that he doesn't think Bitcoin will drop below $2,800. 

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7. Roger Ver, the former CEO of Bitcoin.com and a Bitcoin Cash advocate, has given the impression that he's not concerned about the COVID-19 pandemic.

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8. Riot Blockchain, a crypto mining rig, has published a report stating that the COVID-19 pandemic could have an "adverse effect" on its business.

Filed with the U.S. Securities and Exchange Commission (SEC), it stated that the virus could "significantly disrupt" its operations and financial results.

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9. Binance Academy has established a blockchain research institute in China. Binance Research, which is the non-profit educational arm of crypto exchange Binance, "endeavors to build a leading think tank and research hub that contributes to large-scale developments in blockchain technology to further the growth of the industry," according to Helen Hai, who is leading this initiative at Binance. The Lingang Blockchain Technology and Industry Research Institute (Lingang Research Institute) will be the hub for blockchain talent, which seeks to make breakthroughs while boosting the application of the technology via integrations with artificial intelligence, big data, and the Internet of Things (IoT). Don Tapscott, executive chair of the Blockchain Research Institute, will act as the Honorary Dean of Lingang Blockchain Academy under the Lingang Research Institute. He said: "Blockchain represents the second era of the Internet - the Internet of Value - and can help us build more innovative and productive organizations." The establishment of the research institute follows after Binance announced the introduction of its Binance Card last week, which can be used to shop and pay with crypto worldwide. -BINANCE

10. In Case You Missed It (ICYMI): A U.S.-based healthcare provider is being targeted by ransomware despite the impact COVID-19 is having on hospitals.

The news comes at a time when cybersecurity publication BleepingComputer released data that showed that 10 hospitals had been targeted in the past month by the ransomware.

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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.

Edited by Beth Duckett, staff writer at Inside.

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Keep your filthy money: digitization debate ignites as 'dirty' bills circulate

To view this email as a web page, go here.
March 30, 2020
DOLLAR DIARY

Reports indicate that people are rushing to ATMs to get cash out, though at this point “bank runs” are still a theoretical threat. CoinDesk’s Danny Nelson dives into the debate on whether a cash-based society is even possible in the age of coronavirus. Cash hoarders say yes, health experts say maybe and tech visionaries say no: COVID-19 is the catalyst for systemic payments change. In crypto we trust?

Still, there are more physical dollars in circulation than at any point in the previous 20 years, according to the Federal Reserve Bank of St. Louis. This new report is the first strong signal, beyond scattered anecdotes, that U.S. citizens are withdrawing more cash than usual from banks and ATMs amid concerns over the effects of the coronavirus pandemic. Tender intensifies

BLOCKCHAIN BOOSTS

Investors in Polychain Capital would have netted 1,332.3 percent gains if they invested at the hedge fund's genesis. The fund’s performance flies in the face of common wisdom and regular markets, and raises the possibility that a longer outlook may offset incremental risks. Chain gains

Lending platform Celsius Network has teamed up with Chainlink, on its way to decentralization. Chainlink, an oracle provider, will inform the price feeds Celsius uses to calculate crypto asset interest rates for its products. Decentralized link

Riot Blockchain is worried that COVID-19 may “seriously disrupt” its bitcoin mining operations. The Nasdaq-listed rig builder revealed its concerns in an SEC filing, citing "shelter-in-place" orders and supply chain disruptions as “catastrophic” business ramifications. Caving in

Microsoft filed a patent for a system that can mine cryptocurrencies using data collected from humans as they exercise or read an advertisement. Human powered

CRYPTO CLIMATE

Can bitcoin survive the climate change revolution? Bitcoin's energy intensive architecture may preclude it from financiers looking for environmentally conscious investments.

“[B]itcoin is an interesting investment. But from an energy usage standpoint, my understanding is that it will only become more and more energy-intensive to mine some of these currencies,” said Brett Wayman, VP of impact investing at Envestnet. 

Others, such as Steve Barbour, founder of Upstream Data, which operates bitcoin mines on oil fields in Canada, described bitcoin mining as a “conservation machine.” More value blockchain as an essential tool in tracking carbon emissions and supply chains. Energetic debate

AROUND THE WEB

CB Insights says enterprise blockchain funding less than 20% of cryptocurrencies. But is it? (Ledger Insights)

Bitcoin Core is accessible through to dark web, adding a new level of censorship resistance. (Decrypt)

Blockstream and Lightning Labs fund the most bitcoin developers, according to data compiled by BitMEX. (The Block)

The Tron Foundation has launched its own MakerDAO-like stablecoin system called “Djed.” (The Block)

LabCFTC and the CFTC are hiring student interns under the Pathways Program. (USA Jobs)
 

Bitcoin rose 7 percent early on Monday, even as the “risk-off” mood returned to traditional markets. The top cryptocurrency by market value picked up bids near $5,850 and rose around $500, indicating bitcoin may finally be decoupling from the larger financial ecosystem. "Barring any further cataclysmic shocks to the economy, I expect BTC will rally faster and harder than public markets," Jehan Chu, co-founder and managing partner at Kenetic Capital, said. Decoupling shuffle

Other readings are less optimistic. After news broke of the U.S. Federal Reserve's $2 trillion stimulus package, the Dow Jones Industrial Average is up 23 percent and the S&P500 index has gained around 20 percent, ending “the shortest bear market in history.” Bitcoin, however, has shown resistance near $6,900, presenting a significant bullish hurdle for the world's bellwether cryptocurrency. Bellwether blues?
 

Author and historian Niall Ferguson joins CoinDesk’s Michael Casey for a discussion about our disrupted world, inevitable crisis and what it could mean for money. "The right lesson to draw from all of this is that a global order needs to be based on a distributed operating system, not on a centralized architecture,” he said. Disruption discussion

WHO WON #CRYPTOTWITTER
 

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Keep your filthy money: digitization debate ignites as 'dirty' bills circulate

To view this email as a web page, go here.
March 30, 2020
DOLLAR DIARY

Reports indicate that people are rushing to ATMs to get cash out, though at this point “bank runs” are still a theoretical threat. CoinDesk’s Danny Nelson dives into the debate on whether a cash-based society is even possible in the age of coronavirus. Cash hoarders say yes, health experts say maybe and tech visionaries say no: COVID-19 is the catalyst for systemic payments change. In crypto we trust?

Still, there are more physical dollars in circulation than at any point in the previous 20 years, according to the Federal Reserve Bank of St. Louis. This new report is the first strong signal, beyond scattered anecdotes, that U.S. citizens are withdrawing more cash than usual from banks and ATMs amid concerns over the effects of the coronavirus pandemic. Tender intensifies

BLOCKCHAIN BOOSTS

Investors in Polychain Capital would have netted 1,332.3 percent gains if they invested at the hedge fund's genesis. The fund’s performance flies in the face of common wisdom and regular markets, and raises the possibility that a longer outlook may offset incremental risks. Chain gains

Lending platform Celsius Network has teamed up with Chainlink, on its way to decentralization. Chainlink, an oracle provider, will inform the price feeds Celsius uses to calculate crypto asset interest rates for its products. Decentralized link

Riot Blockchain is worried that COVID-19 may “seriously disrupt” its bitcoin mining operations. The Nasdaq-listed rig builder revealed its concerns in an SEC filing, citing "shelter-in-place" orders and supply chain disruptions as “catastrophic” business ramifications. Caving in

Microsoft filed a patent for a system that can mine cryptocurrencies using data collected from humans as they exercise or read an advertisement. Human powered

CRYPTO CLIMATE

Can bitcoin survive the climate change revolution? Bitcoin's energy intensive architecture may preclude it from financiers looking for environmentally conscious investments.

“[B]itcoin is an interesting investment. But from an energy usage standpoint, my understanding is that it will only become more and more energy-intensive to mine some of these currencies,” said Brett Wayman, VP of impact investing at Envestnet. 

Others, such as Steve Barbour, founder of Upstream Data, which operates bitcoin mines on oil fields in Canada, described bitcoin mining as a “conservation machine.” More value blockchain as an essential tool in tracking carbon emissions and supply chains. Energetic debate

AROUND THE WEB

CB Insights says enterprise blockchain funding less than 20% of cryptocurrencies. But is it? (Ledger Insights)

Bitcoin Core is accessible through to dark web, adding a new level of censorship resistance. (Decrypt)

Blockstream and Lightning Labs fund the most bitcoin developers, according to data compiled by BitMEX. (The Block)

The Tron Foundation has launched its own MakerDAO-like stablecoin system called “Djed.” (The Block)

LabCFTC and the CFTC are hiring student interns under the Pathways Program. (USA Jobs)
 

Bitcoin rose 7 percent early on Monday, even as the “risk-off” mood returned to traditional markets. The top cryptocurrency by market value picked up bids near $5,850 and rose around $500, indicating bitcoin may finally be decoupling from the larger financial ecosystem. "Barring any further cataclysmic shocks to the economy, I expect BTC will rally faster and harder than public markets," Jehan Chu, co-founder and managing partner at Kenetic Capital, said. Decoupling shuffle

Other readings are less optimistic. After news broke of the U.S. Federal Reserve's $2 trillion stimulus package, the Dow Jones Industrial Average is up 23 percent and the S&P500 index has gained around 20 percent, ending “the shortest bear market in history.” Bitcoin, however, has shown resistance near $6,900, presenting a significant bullish hurdle for the world's bellwether cryptocurrency. Bellwether blues?
 

Author and historian Niall Ferguson joins CoinDesk’s Michael Casey for a discussion about our disrupted world, inevitable crisis and what it could mean for money. "The right lesson to draw from all of this is that a global order needs to be based on a distributed operating system, not on a centralized architecture,” he said. Disruption discussion

WHO WON #CRYPTOTWITTER
 

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Sunday, March 29, 2020

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