Thursday, March 7, 2019

Captain @Jack

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March 7, 2019

MYSTERY STARTUP: Former employees of Bitmain who focused on bitcoin cash development are planning to launch a new startup that will offer cryptocurrency custody, over-the-counter (OTC) trading and lending services, CoinDesk has learned. According to two sources with knowledge of the matter, the former employees include those from the mining giant's Copernicus project that was impacted by company-wide layoffs last year. Full story

CRYPTO CHEAT SHEETS: Israel-based social investing platform eToro has launched a cryptocurrency trading platform allowing U.S. customers from 31 states and territories to trade 13 cryptocurrencies. At launch, the platform will offer three CopyPortfolios to let users mimic the bets of established traders. eToro also announced a multi-signature crypto wallet for the U.S. that supports six cryptocurrencies initially. Full story

SIX PICKS CORDA: SIX Group, the Swiss stock exchange operator, has picked R3’s Corda Enterprise platform as the blockchain on which to build its upcoming digital-asset trading, settlement and custody service. Revealed exclusively to CoinDesk, SIX said it chose Corda Enterprise because it was designed for a highly regulated space. Its use cases beyond finance, as well as the flourishing open-source Corda ecosystem also appealed to SIX. Full story

VOTE OF CONFIDENCE? The city of Denver, Colorado, plans to utilize a blockchain system to store and track votes in its municipal elections in May. The pilot program will allow overseas voters, active-duty military personnel and their eligible dependents to vote using a blockchain-based smartphone app from a startup called Voatz. The city hopes the technology will make voting easier and more secure for eligible residents abroad, as well as for those living with disabilities. Full story

DIVERGING PATHS: Binance Coin (BNB), the crypto token that can be exchanged for transaction fees on the Binance exchange, is up more than 140 percent year-to-date and is now deviating from bitcoin's price trend. While most cryptocurrencies are highly correlated to bitcoin, BNB is charting its own course, for now at least, and is notably the only cryptocurrency out of the top 10 to post a yearly gain against the dollar. Full story
BEST OF THE BEST

FORTUNE: Facebook should pay users a “data dividend” in cryptocurrency, according to a piece in Fortune. With the firm said to be developing its own “Facebook Coin” and reportedly already in talks with exchanges to list the token, the social media giant could sidestep growing issues with regulators by rewarding users for their information. The move would also “spin the mounting momentum against [the firm] into a positive attribute,” the author says.

THE REST

BUSINESS WIRE: A Canadian court has for the first time used a bitcoin expert witness in a trial, according to Business Wire. CipherTrace CEO David Jevans testified last month at the Ontario Superior Court of Justice in a case involving a man who allegedly purchased a handgun illegally and sold drugs for bitcoins on the dark web.

FORBES: The team behind the cryptocurrency Zilliqa is partnering with King's College London's blockchain society for an education drive, writes Forbes. The university’s student-run group, KCL Blockchain, will host a series of workshops from Zilliqa, at which the crypto firm will provide its “Blockchain A-Z” program to all members for free.

WHO WON #CRYPTOTWITTER

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What's Consensus Have to Offer Other Than $300 in Savings?

Get $300 in savings before time runs out!
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"WHAT DOES CONSENSUS HAVE TO OFFER?"  

Standard prices increase by $300 tomorrow and there's no reason for you to miss out on these savings. 

You've never attended Consensus, May 13-15, 2019, New York, NY so you may not know everything taking place at this three-day experience blockchain and crypto experience.

In an effort to "show rather than tell," we've created the 2019 Consensus Attendee Experience guide that you can share, which will answer the age old question: "What does Consensus have to offer?

Share this sooner than later as time is ticking and prices increase tomorrow.
VIEW 2019 GUIDE

WHO IS LEADING THE WAY....

Earlier this week we launched the #ticketboostchallenge.
See who's leading the way below.


 
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ROAD TO CONSENSUS 
[PODCAST]

Jake Chervinsky is a lawyer, just not yours. A litigator with New York-based Kobre & Kim, Chervinsky has become a preeminent Twitter personality thanks to his insightful, informative tweets about cryptocurrency, and particularly ETFs. Chervinsky joins host Nolan Bauerle to talk about the SEC, enforcement, and the Twitter school of law.
LISTEN NOW
REMINDER: Space in our competitively priced room blocks is booking up fast! Be sure to book your accommodations at any of our select hotel partners. 
Space is limited.  

FAQs: Have any questions or concerns? Check these out or just reply to this email. We’ll get back to you quickly!
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Keep an eye on enterprise 👀

March 7, 2019

unbankdlogo.png

QUOTE OF THE DAY

"[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet."

- Jack Dorsey



MARKET
COIN PRICE 24H

BTC $3,928.62 + 0.73%

ETH $138.45 - 0.10%

XRP $0.316694 - 0.17%

LTC $57.94 + 4.85%

EOS $3.78 + 0.81%

*Information as of 11:00 AM EST


INSTITUTION

Enterprise Blockchain Spending is Forecasted to Blow Last Year's Numbers Away

In 2018, companies around the world joined the blockchain craze and globally invested $1.5 billion into the new technology.

This year, however, researchers from the International Data Corporation (IDC) are betting that blockchain spending grows more than 88.7% to around $2.9 billion.

That growth is just the start though. Until 2022, the IDC sees the industry growing at a compound annual growth rate of 76% per year, leading to $12.4 billion in blockchain spending by the end.

The top industries

For a better view, IDC broke down the spending by industry. Here are the top three:

  1. Finance
  2. Manufacturing and resources
  3. Retail and professional services

The top countries

Following the sector breakdown, IDC divided regions by their contribution. Here are the top three:

  1. United States
  2. Western Europe
  3. China

Notably, Japan and Canada are expected to lead growth among countries for the next 4 years.

Still young

If anything, the report shows how young enterprise blockchain is right now, despite coming so far already.

IDC Researcher Stacey Soohoo commented on the matter:

"With a number of breakthroughs in 2018, ranging from mainstream acceptance by large enterprises to regulators recognizing their governance role in the blockchain world, blockchain has come a long way since 2017, the year of blockchain experimentation and awareness. 2019 will be a year of mainstream adoption, but will rely heavily on reshaping the ideology of a blockchain revolution."


BITCOIN

Jack Dorsey is Allegedly Buying $10,000 of Bitcoin Each Week

Twitter's CEO Jack Dorsey is no stranger to the Bitcoin community.

The notorious Bitcoin bull has gone on record repeatedly saying that it will "probably" become the "internet's native currency."

Now, he might be spending $10,000 per week to buy the world's largest cryptocurrency.

Hitting limits

In a podcast called Tales from the Crypt, Dorsey explained that he wanted to take part in "Stacking Sat Saturday" - a trend that encourages weekly Bitcoin purchases - but he couldn't participate because he hit his CashApp limit.

If true, that would mean Dorsey is maxing out at about $10,000 per week in Bitcoin buys.

Though Dorsey stays away from price predictions, his support for Bitcoin is clear.


TRADING

BNB is Straying Away from Bitcoin's Price Trend

Once in awhile a cryptocurrency will massively outperform or underperform Bitcoin for a short time period. However, Binance's BNB token is now showing signs of trend deviation from Bitcoin - an unusual feat for the young market.

First reported by CoinDesk, BNB is the only asset in the top 10 cryptocurrencies to post a yearly gain against the U.S. dollar. The next closest is TRON with a -44% loss.

Further, in the last 30 days BNB is up more than 99% while Bitcoin posted a mere 12.65% gain.

That positive trend has made it the only cryptocurrency in the group to stray from Bitcoin's overarching influence.

correlation.png

BITS

But wait, there's more...

  • 🇺🇸 The social trading platform eToro adds crypto trading to 31 U.S. states.
  • 🧐 The City of Denver will pilot blockchain voting in its next coming election.
  • 🤔 Ripple's CEO Brad Garlinghouse says other banks won't use J.P. Morgan's JPM Coin.

MEME

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Wednesday, March 6, 2019

📌 Facebook Takes Aim at Bitcoin, Crypto Twitter Stars, and the Best Time to Buy

 MUST READS 

Facebook Hoping to Succeed Where Bitcoin Failed


Nathaniel Popper at The New York Times reports that Facebook is hard at work on a cryptocurrency that will "succeed where Bitcoin failed."

The details are sparse, but without a doubt, Facebook is interested in implementing blockchain technology in some regard.

According to multiple anonymous sources (because of confidentiality agreements), the company is working on a coin that users of WhatsApp (which Facebook owns) could send to friends and family instantly.

A big question for Facebook: how much control will it retain over the cryptocurrency it is creating? For now, it appears FB is trying to make the system decentralized to some degree, creating a coin that could be transferred outside the FB ecosystem.

Nevertheless, here's Ari Paul on how the upcoming Facebook-coin could drive BTC adoption.
 

Coinbase Responds to Neutrino Acquisition... Again


The past couple of weeks have been filled with news surrounding Coinbase's controversial acquisition of blockchain analytics company, Neutrino and its ties to Hacking Team which sold surveillance and intrusion tools to international governments with dubious human rights records. Some existing Coinbase users are going as far to #DeleteCoinbase.

So this week, CEO of Coinbase, Brian Armstrong, took to Medium to explain why Coinbase acquired Neutrino and exactly what they are doing about the former employees.
 

BlockFi Offers Crypto Deposit Account With 6% Interest... What Could Go Wrong?


Cryptocurrency lending startup BlockFi has launched a crypto deposit account that provides an annual interest rate of 6 percent, paid on a monthly basis in cryptocurrency.

Sound too good to be true?

Well, crypto Twitter was quick to respond with why investing with BlockFi might not be the best idea. Here are a couple favorites: Ian Fisch (here), and AlphaZeta (here).
 

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Why Firing Your Internet Provider Could Save You $19,494


A brand-new technology – code named "Halo-Fi" – could kill off your overpriced cable company for good... beaming lightning-fast internet to your home for an estimated $7 a month.

Want to stop cutting checks and start cashing them?

Click here for more details…

 DEEP DIVE 

Chris Burniske on the Best Time to Buy & Build Tokens


Just another contrarian hot take from Chris Burniske on how we got it all wrong during 2017's bull market... and how we're still getting it wrong throughout today's bears market.

"Don't let the tokens that aren't working, and never were going to work, distract you from the tokens that were thought through thoroughly from inception and are showing signs of working."

TL;DR – Quit writing off OG altcoins due to their current bear market price levels.
 

Messari's New Look & 20 Rising Crypto Twitter Stars


For the common CoinSnacks deep sea diver, we wanted to share a couple helpful resources that stumbled across our desks this week:
  1. 📡 The Messari database got a facelift (new search feature) last week that makes it easier to learn more about the thousands of people, organizations, and prominent projects in today's cryptosphere.

    What projects does Vitalk Buterin advise?... What tokens has Blockchain Capital invested in? Start taking advantage of their new search page.
     
  2. ✊ Second, courtesy of hive.one (previously known as cryptoinfluencers.io), here are the hottest and most trending crypto Twitter stars so far this year and in 2018.

    Crypto Twitter is filled with a lot of junk these days. Give props to these guys for dispelling all the myths and confusion week-by-week.

 SPONSORED 

John Boehner Makes Shocking Marijuana Prediction... What Does it Mean for Investors?


At the American Cannabis Summit - the first-ever nationwide event for cannabis investors - former Speaker of the House, John Boehner, revealed why he's going all-in on marijuana... and laid out a plan for exactly how ordinary Americans can make a fortune from this hundred-billion-dollar industry.

To see a special rebroadcast of this historic event, click here.

 REGULATORY FRONT 

Opinion: No, Venezuela Is Not Becoming a Bitcoin Nation


In recent months, there's been a ton of reports about how Bitcoin is going to save Venezuela. We even highlighted a New York Times article last week about a man using Bitcoin to "save his family."

But José Rafael Peña Gholam, who is based in Caracas, Venezuela has written an opinion piece in which he asks the public to not overstate the power of Bitcoin in Venezuela. He also asks crypto campaigns to stop using the countries crisis to attract attention.

"Bitcoin can play an important role for some people in Venezuela, but cryptocurrency adoption is not massive and should happen in a more organic way. A lot of foreign crypto enthusiasts simply don't understand our country. Don't try to fit Venezuela's crisis into your favorite crypto narrative."

 

Will Fiat-Backed Stablecoins Pass Legal Muster with the SEC and CFTC?


Most people assume fiat-collateralized stablecoins are safe from regulatory scrutiny, but the SEC & CFTC may not agree.

Our favorite ELI5 defense attorney Jake Chervinsky wrote about how stablecoins might be viewed as regulated securities or swaps... and what that could mean for the industry.

 

 TWEET THREAD OF THE WEEK 

Other Articles You May Enjoy

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