Ethereum

After EOS, Coinbase Earn to Allow Users to Earn Ethereum-Based DAI

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In the eyes of many commentators, education and a lack of proper consumable information are what is stemming the adoption of Bitcoin and its ilk. Coinbase, the prominent San Francisco startup, is looking to change this, however, with Earn. This venture gives users a chance to earn digital assets in exchange for consuming content about cryptocurrency and blockchain.

Earn Ethereum-Based DAI Through Coinbase

Announced Monday, Coinbase Earn, the firm’s education portal, will be supporting DAI, the Ethereum-based algorithmic stablecoin pegged to the U.S. dollar. Users “around the world” can now earn up to $6 worth of the cryptocurrency by participating in three lessons, which outline what DAI is, what it can be used for, and how the Maker (MKR) protocol and economy ensures that the stablecoin is always valued at around $1. Each lesson, which involves a video and short quizzes, will reward the user two DAI.

This news comes just days after Coinbase added EOS to Earn, collaborating with blockchain developer Block.one to make that happen. DAI and EOS now join Stellar Lumens (XLM), ZCash (ZEC), Basic Attention Token (BAT), and 0x (ZRX) as popular crypto assets supported by the educational platform.

Many see the “free crypto” approach as a way to draw people into the industry. And while some may hate Coinbase for “shilling altcoins” through the program, education for this industry, in particular, is proving to be of paramount importance. Many in the public, even tech-savvy university students, prefer dollars over Bitcoin and its altcoin brethren.

Case in point. a Youtube channel, Capital Creators, recently did an impromptu survey about whether students at a university in Boulder, California would hypothetically choose one Bitcoin or $1.

For some reason or another, most chose the $1, despite the fact that BTC is valued at a cool $7,900. Most respondents either didn’t know much about Bitcoin, wouldn’t know how to receive or use it, or claimed that they would like fiat because of its reliability and physicality. This comes in stark contrast to a report commissioned by Blockchain Capital that said a near-majority of 20-somethings intend to buy Bitcoin.

By incentivizing consumers to learn about cryptocurrency, Coinbase may just be doing the industry a favor. However, there is one drawback with Coinbase Earn: the onboarding process can be cumbersome for what some see as little value. Users are mandated to submit identification and go through the whole know your customer process before participating in Earn.

Shift In Strategy & Executive Exodus

This recent focus on Earn comes as Coinbase has undergone an ostensible shift in strategy, marked by a mass exodus of executives, even members of its C-Suite. Members of Coinbase’s executive team that have left recently are as follows: chief operating officer Asiff Hirji, a TD Ameritrade veteran; vice president Adam White, who left for the New York Stock Exchange’s Bakkt; vice president Dan Romero; chief technology officer, Earn co-founder Balaji Srinivasan; and Christine Sandler, who left for Fidelity’s Bitcoin play.

This exodus occurred within a span of eight months, and likely marks some internal instability within the firm’s wall.

In terms of shifts in product, we’ve seen Coinbase focus on custodial services and other institutional platforms. Coinbase Custody has continued to add assets and clients, with the firm’s chief executive, Brian Armstrong, recently telling conference-goers at Consensus that this service has over $1 billion worth of crypto assets under management, a fair 0.4% of the entire market.

The company has also scrapped its tacit commitment to Bitcoin maximalism, adding nearly, if not over 10 altcoins in the past year. This follows its support for only Bitcoin, Ethereum, and Litecoin for years on end.

It is unclear what changes Coinbase will see next, but the company seems to be changing gears at a rapid pace.


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Altcoin

IOTA Price Analysis: Bearish Trend Seems to Completely Encircle IOTA (MIOTA)

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There are no positive vibes expected for IOTA yet. Already, there are so many altcoins which are continuously losing their worth day after day to the erratic and turbulent BTC. The recent growth of BTC and other cryptocurrencies has not really affected the growth of altcoins like IOTA. Despite bringing new updates, IOTA is still not able to hold up its value and is continuously plunging down at a steady pace. This is really ruffling, so far its sustenance in this turmoil market is concerned.

Current statistics from IOTA Chart:

  • Price in USD: 0.4325 USD
  • Price in BTC: 0.00004729 BTC (05:37 UTC)
  • Circulating supply: 2,779,530,283 MIOTA
  • Market rank: 16
  • Market cap: 1,203,149,464 USD

IOTA to USD Price Predictions:

IOTA Price Chart -...
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Blockchain

Blockchain Experts Slam Facebook’s Libra Cryptocurrency

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By CCN Markets: A lot has already been said about Facebook’s Libra cryptocurrency and its ambition to disrupt the finance world. But what about the blockchain technology that powers it? 

Blockchain experts have poured over the technical documents and played with the Libra protocol testnet. Suffice to say, they’re not convinced about Libra’s claims.

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Scams

Five Korean Crypto Exchanges Revise Their Terms of Service

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Five South Korean-based cryptocurrency exchanges have opted to revise their terms of service in favor of their users as requested by the country’s Fair Trade Commission more than a year ago. In the recent revisions, the five exchanges will now take liability for any losses resulting from exchange hacks even in the cases where it is not proved to be a failure of their systems.

The news was shared by the local news media, the Yonhap News Agency on Monday, June 17th stating that:

“Five cryptocurrency exchanges have changed their terms of service in a way that they can be liable for problems caused by potential cyber-attacks or system malfunctions, even if operators are not…



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Altcoin

Litecoin [LTC] Foundation Partners with Bibox and Ternio to Offer a Physical Debit Card

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Litecoin Foundation, the non-profit foundation behind one of the leading altcoins by market capitalization Litecoin has partnered with Bibox Exchange as Ternio, a blockchain company to enable cryptocurrency payments through Ternio’s debit card. Ternio already provides its users a debit card called The BlockCard, which is a physical debit card.

This partnership will see the three entities launch a special edition BlockCard that will only be available for spending Litecoin [LTC], Bibox’s and Ternio’s native cryptocurrencies BIX and TERN tokens respectively.

“The soon to be released debit card will enable users to spend the value of their cryptocurrency either online or in physical store locations, anywhere in the world where major credit cards are accepted,” a notification by the Litecoin Foundation states.

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Altcoin

Monero Market Capitalization Reaches $1.66 Billion (XMR)

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Monero (CURRENCY:XMR) traded 1% lower against the US dollar during the 24 hour period ending at 21:00 PM E.T. on June 18th. During the last seven days, Monero has traded 11.8% higher against the US dollar. Monero has a market capitalization of $1.66 billion and $217.76 million worth of Monero was traded on exchanges in the last day. One Monero coin can now be bought for $97.61 or 0.01064667 BTC on major exchanges including Coindeal, Exmo, Waves Decentralized Exchange and BTC-Alpha.

Here is how similar cryptocurrencies have performed during the last day:

  • Bytecoin (BCN) traded down 6.5% against the dollar and now trades at $0.0010 or 0.00000011 BTC.
  • Aeon (AEON) traded 7.6% higher against the dollar and now trades at $1.01 or 0.00010993 BTC.
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Bitcoin

Bitcoin Price Will ‘Easily’ Blast Beyond All-Time High Soon: Wall Street Analyst

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By CCN Markets: Speaking to CNBC’s Futures Now, Fundstrat co-founder and head of research Thomas Lee said that considering the momentum of bitcoin, the dominant crypto asset is likely to take out its all-time high very soon.

“Well, you know I think bitcoin ultimately becomes a reserve currency in crypto, bitcoin at $9,000 has only been at this level in four percent of its history. We’re deep into a bull market and people are pretty silent about it. I think bitcoin is easily going to take out its all-time high,” said Lee.

Lee’s optimistic projection of bitcoin comes after the asset recorded a 113 percent increase in value since April within a two-month span from $4,310 to $9,200.

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