o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

Hodler’s Digest, February 11–17: Top Stories, Price Movements, Quotes and FUD of the Week

Posted on February 17, 2019 by nbelov

Fundstrat Global Advisors thinks that crypto prices can see higher price points, and JPMorgan plans to launch its own coin.

Top Stories This Week

Fundstrat Global Advisors Expects 2019 to Bring More Institutional Investors to Crypto

According to a report on the 2019 crypto outlook released by New York-based research company Fundstrat Global Advisors, incremental improvements in the crypto space can provide support for higher prices for cryptocurrencies. The report notes that as the United States dollar is expected to weaken, and more institutional investors enter the space, a visible market recovery can be expected. Fundstrat states that the current year’s crypto hangover can be attributed to the waning interest in the initial coin offering (ICO) sector as well as adverse regulatory achievements.

JPMorgan Chase Launches JPM Coin to Increase Settlement Efficiency in Three Operations

United States banking giant JPMorgan Chase announced this week that it was planning to launch its own digital asset. After previous negative comments about cryptocurrency from the bank’s CEO Jamie Dimon, the company has released information about its new JPM Coin, which is designed to increase settlement efficiency initially within three operations: international settlements by major corporations, treasury services and securities transactions. According to the head of JPM’s blockchain focus, only a small amount of the total funds involved will at first involve the JPM Coin.

Crypto Miners and Investors Are Turning to Derivatives to Survive Crypto Winter

A recent analysis by Bloomberg has found that crypto investors and miners are looking more and more towards derivatives like options as a way of surviving the recent market downturn. According to Bloomberg, the increasing popularity of complex traditional market trading instruments is a reflection of the difficulty of weathering the current bear market. Although official statistics are scare, Bloomberg notes that miners are now becoming one of the main sellers of a type of derivative similar to a covered call option.

Coinbase Wallet Users Adds Support to Backup Encrypted Keys on Google Drive, iCloud

Coinbase Wallet users will now be able to backup their private keys on Google Drive or iCloud. According to an official announcement, Coinbase Wallet users will be able to upload their keys to the cloud as a safeguard against lost keys, which then protects against losing funds in the case that keys are misplaced. The users can also store an encrypted copy of the recovery phrase on their clouds accounts, and Coinbase has noted that neither they nor the cloud services will have access to user funds. Experts opinions differ on the issue of security of such backup.

QuadrigaCX Controversy Continues as $500K Accidentally Transferred to Inaccessible Cold Wallet

Earlier this week, it was reported that major Canadian crypto exchange QuadrigaCX accidentally transferred nearly $500,000 in Bitcoin (BTC) to its cold wallets earlier this month. Ever since the death of its founder Gerald Cotten in December 2018, the exchange has been unable to access these wallets, leaving around CA$190 million dollars ($145 million) missing in digital assets. Also this week, evidence emerged from an old podcast that Cotten had suggested in 2014 that he kept private keys for the exchange’s wallets printed out and stored in a safe deposit box.

Winners and Losers

The crypto markets have seen an end-of-the-week calm, with Bitcoin trading at around $3,644, Ethereum at $124 and Ripple at $.30. Total market cap is at around $121.5 billion.

The top three altcoin gainers of the week are UltraCoin, dietbitcoin and SegWit2x. The top three altcoin losers of the week are MMOCoin, The Currency Analytics and ZenGold.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Most Memorable Quotations

“We would love to make [Bitcoin payments] as fast and efficient and transactional as possible and that includes looking at our seller base and our register. It’s not an ‘if,’ it’s a ‘when.’”

Jack Dorsey, Twitter co-founder and CEO,  founder of Square

“By its nature, blockchain technology doesn’t recognize borders, […] It’s unstoppable.”

Eva Kaili, a Greek member of the parliament (MEP) of the European Union

“We could step into Venezuela with six laptops and create not only a functioning society but arguably one with the most advanced government systems in the world. We could bring them a central bank on the laptop. Everyone in Venezuela downloads a free app, and suddenly you have the most advanced monetary system on the planet.”

Patrick Byrne, founder and CEO of retail giant Overstock.com

“Technologically, regulation-wise it [a BTC ETF] could happen tomorrow. There is no particular motivation because the ‘powers that are be’ in the fund industry have no incentive to give up their market share.”

Ric Edelman, founder of advisory firm Edelman Financial Engines

“I’m not a believer in the vast majority of digital tokens and I believe most will go to zero.”

Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments

“As predicted, banks are changing their tune on crypto. But this JPM project misses the point — introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer.”

Brad Garlinghouse, CEO of Ripple (XRP)

Prediction of the Week

Zhu Fa, the co-founder of Poolin, a Chinese-based crypto mining pool, predicted this week that Bitcoin’s price could hit 5 million Chinese yuan (around $738,000 USD).

FUD of the Week

Major US Crypto Exchange and Wallet Gives $30,000 Reward for Finding Critical Bug

United States crypto exchange and wallet service Coinbase has given out a $30,000 reward for reporting a critical bug on its system, according to data from its vulnerability disclosure program. Coinbase has confirmed that the vulnerability has since been fixed, but has not provided any additional details on the scope of the bug. According to Coinbase’s four-grade reward system, the bug was rated towards critical impact, as their highest bug bounty is capped at $50,000. This is the fourth bug bounty handed out by Coinbase over the past year.

Software Dev Finds Possibility for Attack Vector in Constantinople Upgrade, Buterin Denies

Earlier this week, software developer Tim Cotten wrote on Medium about the possibility for the new smart contract creation function, dubbed Create2, to introduce a new attack vector to the platform. Cotten wrote that since the contract with Create2 is created at an address that can be determined by different parties, it could allow the change of smart contract addresses after being deployed. In an Ethereum developers call at the end of the week, ETH co-founder Vitalik Buterin addressed the issue, noting that the new feature will not have negative security implications.

Turkish Police Arrest 24 Suspects Over Hacking of Around $2.5 Million From Crypto Firm

Police in Turkey have arrested 24 people that were allegedly involved in a 13 million Turkish lira ($2.46 million) hack from an unnamed cryptocurrency-related firm in Istanbul. The city’s Cybercrime Department found that the stolen money had been moved out of hacked accounts to accounts on other exchanges, with the funds denominated in Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP). During the investigation that covered 8 provinces, the cybercrime unit discovered that the suspected individuals were communicating through online multiplayer battle royale game PlayerUnknown’s Battlegrounds (PUBG).

 

Best Cointelegraph Features

From Last-Minute Will to Past Banking Problems: What Makes the QuadrigaCX Case Seem So Strange

Cointelegraph looks at the strange and often perplexing case that has unfolded in the aftermath of the QuadrigaCX’s death in December 2018. With money apparently being moved around their cold wallets, their cold wallets not existing, and the money possibly even not existing, Cointelegraph examines the conflicting rumors and theories surrounding the financial status of Canada’s largest crypto exchange.

Iran: Still Waiting for the Blockchain Revolution

Coming off of the heels of the announcement of an Iranian-backed cryptocurrency, known as Paymon, the crypto space has discussed the implications of Iran using a digital asset. Facing sanctions and cut off from SWIFT, a blockchain-based digital asset could help the country economically, but how much has really been done?

Ordinary Stablecoin or XRP Killer? What We Know About JPMorgan Chase’s New Cryptocurrency

JPMorgan Chase took the world by surprise when it announced that it would be releasing its own digital currency, dubbed the JPM Coin, for use in several areas of its business. Considering CEO Jamie Dimon’s past negative comments on Bitcoin, crypto commentators have been highly skeptical of the move, even as others have brought up the possible competition between JPM Coin and Ripple. Cointelegraph examines how the JPM Coin will really work out.

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • 'Code is not law': Seth Green thief stole Bored Apes, not the rights say experts May 25, 2022
  • Cornucopias: A Revolutionary Cardano Blockchain Project That Is Redefining the Gaming Metaverse Industry – Press release Bitcoin News – Bitcoin News May 25, 2022
  • FinTech Blockchain Market to have a Stout Growth in the Near Future – Ripple, Guardtime, Cambridge Blockchain, AWS, Applied Blockchain, etc – The Daily Vale – The Daily Vale May 25, 2022
  • WeWork founder reinvents himself with $70M crypto carbon credit platform May 25, 2022
  • Blockchain in Pharma Supply Chain Market | Company Challenges And Essential Success Factors |IBM, AWS, Microsoft, SAP, Chronicled, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain Distributed Ledger Technology Market to have a Stout Growth in the Near Future – Digital Asset Holdings, Capgemini, Accenture, Block chain Tech Ltd, Ethereum, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain in Digital Rights Management DRM Market Size And Forecast | Sony, Binded.Inc, Custos Media Technologies, Scenarex, Publica, Mediachain, Pixsy, Gilgamesh, RecordsKeeper – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain for Land Registry And Asset Tracking Market Size And Forecast | Accenture, Factom, BlockVerify, Applied Blockchain, Digital Asset, Bitfury, Guardtime, Deloitte, ChromaWay, Gemalto – The Daily Vale – The Daily Vale May 25, 2022
  • What Are Web 3.0 Enabled Blockchain Esops And How Are They Different From Regular Esops? – Outlook India May 25, 2022
  • Blockchain in Education Market Size And Forecast | Blockcerts, DISCIPLINA, Gilgamesh, IBM, Learning Machine, LiveEdu, odem.io, Open Source University, Oracle, RecordsKeeper – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain Distributed Ledger Technology (DLT) Market Size And Forecast | Chain Inc., IBM, Accenture, Monax Industries, Intel, Deloitte, Earthport, Microsoft Azure, Digital Asset Holdings – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain-as-a-Service Market 2022 Competitive Expectations with Industry Players – Infosys, SAP, Cognizant, IBM corporation, Amazon, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Blockchain in Logistics Market 2022 Competitive Expectations with Industry Players – SAP, Oracle, Microsoft, Amazon, Maersk, etc – The Daily Vale – The Daily Vale May 25, 2022
  • Uniswap breaks $1T in volume — but has only been used by 3.9M addresses May 25, 2022
  • Could GameFi and carbon currencies reverse blockchain's climate stigma? May 25, 2022
  • CryptoSat’s first nanosatellite blasts off Wednesday on SpaceX rocket May 25, 2022
  • New Luna 2.0 blockchain will not be a fork of Luna Classic – CryptoSlate May 25, 2022
  • Sam Bankman-Fried could spend up to $1B in 2024 to thwart Trump comeback May 25, 2022
  • Crypto, blockchain and NFT firms are bailing out Hong Kong office property segment – South China Morning Post May 25, 2022
  • BSV Global Blockchain Convention Opens With Impactful Speech – Benzinga – Benzinga May 25, 2022
  • ShareRing, A Digital Identity Blockchain Ecosystem, Announces SHR Token Swaps From BNB Smart Chain To – Crowdfund Insider May 24, 2022
  • Low inflation or bust: Analysts say the Fed has no choice but to continue raising rates May 24, 2022
  • All Eyes on Digital Assets EO for Crypto, Blockchain Policy Turns – MeriTalk May 24, 2022
  • Blockchain and Metaverse Legal Issues for the Government and Government Contractors – JD Supra May 24, 2022
  • ECB: One in ten households in eurozone population centers now own cryptocurrency May 24, 2022
  • Weak stocks and declining DeFi use continue to weigh on Ethereum price May 24, 2022
  • WEF 2022: Web3 no longer just about crypto and DeFi, says Polkadot founder Gavin Wood May 24, 2022
  • Sortium Blockchain Studio Retains Rubenstein Public Relations as Agency of Record – 69News WFMZ-TV May 24, 2022
  • Billionaire Ray Dalio Speaks in Davos — Says 'Blockchain Is Great, but Let's Call It Digital Gold' – Bitcoin News – Bitcoin News May 24, 2022
  • Mercado Bitcoin partners with Stellar to create MVP for Brazilian CBDC May 24, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com