“There are no great limits to growth because there are no limits of human intelligence, imagination, and wonder."
- Ronald Reagan
The weekend is here! Overall, this week wasn't as exciting as the previous's from a price action perspective, but we did see some great fundamental developments. I can't wait to see how next week pans out! 👀
Today in history (1915), Thomas Edison invented the telescribe to record telephone conversations. 👂
In today's newsletter, we will be covering AT&T accepting bill payments in the form of crypto,Coinbase Commerce exceeding $50 million in transactions since launchand Ethereum founder Vitalik Buterin proposing a design to help improve privacy on the ETH blockchain.Today in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics! Also today, we have a special announcement pertaining to crypto casino, BitcoinCasino.io! So don't forget to check that out below too! So don't forget to check that out below too!
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Here we go again ⚔️
Over the last 24 hours, total market capitalization steadily rosefrom ~$247 billion to ~$249 billion, with most coins seeing gains in the ~3-6% range. Notable movers of the day include Litecoin (LTC), Waves (WAVES) Bittorrent (BTT) and Holo (HOT), each up ~10.3%, ~27.8%, ~23.3% and ~12.6% respectively.
BTC is currently trading at ~$7,970, up ~4.8% over yesterday and is again challenging the $8,000 mark for the third time in the past week. RSI level on the daily chart is at ~65. 👀
Whatever you're comfortable with 🤗
Telecomm provider AT&T has recently announced that it will be accepting bill payments in the form of crypto, facilitated by Bitcoin payment processer BitPay. 😄
ATT, recognizing that some of its customers use cryptocurrency, made this move to give them a preferable option and flexibility. According to AT&T's vice president, Kevin McDorman, AT&T is "always looking for ways to improve and expand our [their] services", and since they "have customers who use cryptocurrency", they are happy to "offer them a way to pay their bills with the method they prefer”.
At the moment, the crypto payment optionality is not extended to AT&T’s storefronts, as well as the other services of AT&T.
Explosive growth 📈
Coinbase Commerce has already exceeded $50 million in transactions since its recent February launch. 😲 According to its product lead, Justin O’Brien, it's “volumes really started picking up in Q2” and have “been on an upward trend since we [it] launched.”
Coinbase Commerce is crypto exchange Coinbase's app for online retailers, to enable merchants to easily accept crypto and integrate with existing payment flows. It is currently integrated with Shopofy, Magento, OpenCart, PrestaShop and WooCommerce. To get started, merchants simply need to create both an account and a non-custodial wallet for receiving cryptocurrency. 😄
According to O'Brien, what initially began as a minimum viable product just a few months ago now comes equipped with all the features a merchant needs, thus making adoption easier. Payments received via Coinbase Commerce land in the wallet and remain as crypto. In order to shift funds to fiat, merchants need to withdraw the cryptocurrency and sell it.
Mix it up 🤪
In a recent HackMD post, Ethereum (ETH) founder Vitalik Buterin proposed a design that will help obscure user activity on the ETH blockchain, citing the need to take "a first step toward more privacy”. ✍️
Buterin proposed a “minimal mixer design” aimed at obfuscating user addresses when sending fixed quantities of ETH. A typical transaction would then involve the creation of 2 smart contracts on the Ethereum blockchain, one for the mixer and one for a relayer registry, such that users can opt-in for participating in an anonymity set.
An anonymity set is a set of users from which the ETH could have come from. For instance, if the anonymity set is 4 (Bob, Tom, Dave, Sally), the ETH you received would have come from one of them. Hence, the bigger the anonymity set the more the privacy. 👍
According to Buterin, the proposed design not require any changes to Ethereum on a protocol, further adding to its ease for integration into current wallets.
Litecoin was released by an open-source client on Github, way back in October 7, 2011, through the former Engineering Director at Coinbase, Charlie Lee.
Litecoin is essentially a fork off the Bitcoin Core client. It has a maximum supply of 84 million LTC. It differs from BTC in terms of the hashing algorithm used.
Why people love it 😘
LTC transaction times are generally shorter than that of BTC's due to its reduced block generation time of 2.5 minutes (vs BTC's 10 minutes). Some prefer using LTC when sending smaller amounts for this very same reason.
LTC uses the "scrypt" hashing algorithm, which favours large amounts of high-speed RAM, rather than raw processing power alone. This reduces the effectiveness of ASIC miners, which thus increases its decentralization attributes.
LTC has a big and responsive community, especially seen from their reddit channel.
Given its early mover advantage, LTC has become one of the most widely accepted cryptocurrencies with many existing and growing payment channels. It is also commonly seen as the 'silver' to BTC.
Why people doubt it 🤔
LTC has many other competitors in the day-to-day transactions space like DASH, BCH and BTC, each possessing strong communities and loyal followers.
As BTC continues to scale and develop into an increasingly efficient blockchain, LTC may lose its edge as the faster payment alternative. Coupled with more second and third generation coins being introduced to the market, LTC might struggle to retain its market share.
Calling out to all risk seekers! SoftSwiss has launched a new online cryptocurrency casino licensed out of Curaçao in South America, BitcoinCasino.io, and is now accepting players from anywhere around the globe!
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The site accepts deposits across a wide range of fiat options and cryptocurrencies, including USD, CAD, EUR, BTC, ETH, LTC, DOGE, BCH and USDT. More importantly, you'll be able to enjoy uber fast withdrawals (5-10 min average times) and round-the-clock 24/7 online support for you to play with ease of mind!
Don’t worry, you can bet happy! Take a chance, check them out here today!
Other news 📰
Mozilla has released an update for its Firefox browser which includes an option under the “Privacy & Security” tab to block crypto mining scripts on websites from running on users' browser. 🙅♂️
Adam Clark, creator of the now defunct/ hacked Cryptopia exchange, has started a new exchange product called Assetylene. 🤦♂️
The U.S. Copyright Office has come out to say that it does not recognize Craig Wright as Satoshi Nakamoto. 🤷♂️
Crypto calendar 📅
16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)
19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
"How much do you agree with this statement: "I suspect that there are unauthorized crypto mining scripts running on my browser""
The average vote was a 5.6. Hmm, there seems to be some uncertainty here.
"Why do you say so?"
my browser is slow - get it checked asap! start by downloading an ad blocker. 👍
I bet rogue sites have tried installing cryptominers, but I'm hoping my ad blocker and tracking blockers blocked them. My CPU speeds don't seem to be super messed up or anything. - Try installing an anti-cryptomining extension for your browser as well.
i am sure its not on my browser... one should take due precautions for crypto related malware though.. - Yeah, the threat is very real.
I have not yet paid attention, but I have been experiencing a bit of lag from CPU and GPU on private laptop. And I do tend to leave my browsers open. Investigate I shall, annoyed I shall be. - Eradicate, you must.
Yes I suspect this, have any tips on how we can know for sure? - I would recommend downloading an ad blocker and installing an anti-cryptomining extension. 😁
Well I’m sure I have more than one unwanted guest looking and snakin’ all our junk, wish I had an Uncle Sam emoji I’d have used it ☮️ - Hahaha you don't seem too fazed by it. 😂
Say whaaaa??? - Yup, get yours checked!
Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
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