Ripple's lawsuit is a fight for crypto. 📜
In my humble opinion...
Bitcoin's getting a bit of an ego check right now.
Why are bitcoin maximalists getting so angry?
*checks bitcoin dominance*
— Crypto de' Medici (@cryptodemedici) January 9, 2018
Coin of the Day Safely buy and sell online
(CRYPTO: ELA) Elastos is the world’s first operating system which uses the internet as the base-layer infrastructure. It was founded by a former senior programmer at Microsoft, who envisions a tokenized smart economy where digital products can be sold to consumers on a secure and decentralized platform. Perhaps the most significant merit of Elastos is the segregation of network communications and applications. In the past, hackers have exploited apps that have access to the network to attack users. Elastos will provide us with a secure computing experience and a platform that facilitates safe and transparent transactions. Given its promising technology and funding from big names such as the Foxconn group, Tsinghua University, and Da Hongfei, and the founder of NEO, it is highly anticipated that it will gain rapid and wide-spread adoption in China.
There's been a lot of government checking and balancing with regards to crypto, showing that you can't just slap the concept of tokenization on just anything.
Ripple's been having a tough 48 hours, from the price taking a hit, to an ongoing lawsuit escalating. Hang in there.
You may have checked the charts recently (we hope you did, anyway) and it's pretty clear that Ripple's (XRP) meteoric rise was not long-lived. It seems as though XRP is going through a significant correction, with its price down 2% for the year (although it's still early) as crypto enthusiasts seem to rotate back into Ethereum (ETH). In the first few days of 2018, XRP was actually up over 50%, which was a substantial continuation of 2017's 37,000% increase. ETH is now up over the $1,300 mark for the first time and has moved back into its regular status of the second largest market cap, behind Bitcoin. Sorry, Ripplers.
CoinMarketCap took off three South Korean exchanges, Bitbumb, Coinone, and Korbit, due to the insane premium cryptocurrencies are currently being traded at in the Asian country. Ripple's market cap dropped $20 billion; though the entire market was impacted, XRP's price seemed to be particularly affected, falling 30%. Many other price-reporting services still include South Korean exchanges, so Ripple's price has changed much less on those sites (here's a nice variety). Coinbase crushed the rumor that they would add Ripple to their service, which causes a slight dip in the price last week as well. Like any token, traders have to be patient.
In case you didn't know, Ripple's involved in a $12 billion lawsuit. In 2016, CEO Chris Larsen signed a deal with bank consortium R3, with the agreement that R3 would purchase 5 billion XRP for less than a penny each in exchange for assistance in getting banks on board with Ripple. R3 first sued Ripple for backtracking on their original agreement, resulting in a countersuit from the crypto project. Larsen claims R3 stole information about the token and failed to inform their team that Goldman Sach, JPMorgan, and Morgan Stanley were pulling out of the consortium. Nice try taking advantage of blockchain/crypto groups, mainstream finance.
Microsoft withdrew the option to pay in Bitcoin last week, but has gone back on their decision and is now allowing BTC as payment once again. Stop playing with our hearts, Bill.
Kodak moment – Kodak announced the launch of a photo-centric cryptocurrency that allows photographers and agencies to better control image rights management.
Overstock.com mixed up Bitcoin Cash and Bitcoin, allowing customers to pay in either. With different valuations, they accidentally allowed customers to buy products at a steep discount when paying with BCH.
Coin to Watch
a swanky Rolex watch (oooooooh). At $8,600, you're not only paying for the brand name but the bragging rights when you tell people that a Monero moon paid for it.
Sorry guys, they've asked me to do the marketing and I really needed the money. pic.twitter.com/it2S3JWq0S
— dark pill (@DanDarkPill) January 9, 2018