Samsung Galaxy S10 model will have a built-in cryptocurrency wallet. View in browser
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"Bitcoin is a digital currency with known & limited supply, an open global network, and not controlled by politicians. US Dollar is a digital currency with unknown & unlimited supply, a highly restricted territory-based network, and controlled by politicians.”  ~ Erik Voorhees

Market State

The bears are not sleeping during the crypto winter. The crypto market remained calm during the last week until early Monday morning when prices started to fall. Bitcoin is down by 4.6% and Ether is down by 8%. Litecoin dropped by 6% and Bitcoin Cash dropped by 11%.

The number of cryptocurrency related conferences and the number of people working in the crypto industry are increasing.  Several big crypto related events and conferences occured last week namely Blockchain Economic Forum, the accompanying event at World Economic Forum in Davos, Switzerland, the Unconfiscatable Conference Bitcoin Event in Las Vegas, United States and Binance Conference in Singapore.

During the late 2017 cryptocurrency hype there were so many scam projects. Today the cryptocurrency industry is much more healthier than it was a year ago. The bear market has filtered all the good projects for us. Those who are dedicated and enthusiastic about  cryptocurrency space still continue building their products and platforms.

Check the latest Bitcoin Price
Quiz of the week

What is a Bitcoin testnet?

  1. A special network that existed long before the launch of the Bitcoin network
  2. A pool of unconfirmed transactions
  3. A parallel Bitcoin network created for testing purposes

Scroll down to see the answer at the end of the newsletter.

Top stories of the week
Ethereum Devs Now Getting Paid in Dai

Ethereum developers now have the option of getting paid in DAI. An Ethereum developer, Alex van de Sande tweeted out last week that he was honoured to be the first Ethereum developer to be paid in DAI. Initially Ethereum developers received their salary in Bitcoin, later during 2015 and 2016 they switched to Ether. The switch from Ether to DAI was due to Ether’s falling price. DAI is an Ether backed stable cryptocurrency that is equal to 1 USD. DAI’s stable feature comes from the cryptocurrency side and not from the  dollar side which makes it decentralised. The amount of Ether that is backed the DAI token is algorithmically adjusted depending on the value of Dai in relation to the dollar.

LocalBitcoins suffers fishing attack

The leading peer-to-peer Bitcoin trading site, LocalBitcoins has announced a security breach last week. During the phishing attack hackers taken over LocalBitcoin’s Forum site and redirected users to a fake LocalBitcoins website where the hackers would collect the login information then asked for a two-factor authentication (2FA) one-time code. The hackers managed to steal total of 7.9 BTC which is about $28,000 from six different users. LocalBictoins took immediate measure by disabling its forum and temporarily halting transactions on its platform. Though LocalBitcoins is peer-to-peer exchange it still holds your Bitcoins, consider using non-custodial exchanges where the exchange has no access to your Bitcoins.

Trust Wallet is Joining Binance

Trust wallet will be integrated to the upcoming Binance DEX (Decentralised Exchange ) and add support for Binance coin (BNB). The mobile wallet was launched in November 2017 and supports Ethereum and over 20000 different Ethereum based tokens (ERC20, ERC223 and ERC721). Also it allows you to interact with decentralised applications. Binance purchased Trust wallet in July 2018. Recently, the wallet added support for the biggest cryptocurrencies (Bitcoin, Litecoin, Bitcoin Cash and Dash). Currently, it supports 15 different coins. Trust wallet has announced that it would soon launch its desktop and hardware version as well.

Built-In Hardware Wallet in Samsung S10

Several leaks have revealed that the Samsung Galaxy S10 model will have a built-in cryptocurrency wallet. Benjamin Geskin, a well-known serial mobile leaker shared photos of a Blockchain KeyStore application on the upcoming phone that would serve as a cryptocurrency wallet. The images suggest that the new feature will only support Ether at the moment. However another source claimed that Galaxy S10 built in cryptocurrency wallet will support Bitcoin, Ethereum and Bitcoin Cash. Samsung Galaxy S10 is scheduled to be revealed at an event in San Francisco on 20th of February but the actual launch will be a few weeks later.

Market Capitalisation of Ripple May Be Overstated

A cryptocurrency data analyzing firm Messari claimed in a report that Ripple, the second-largest cryptocurrency overstates its market cap by over $6 billion. Market capitalisation is the circulating supply times the price. Messari says that not all of the circulating supply of Ripple is actually available as they are locked up in escrow and people can’t sell them. Messari argues that 19.2 billion of the 41 billion circulating XRP tokens are illiquid and are not part of the circulating supply which falsely inflates the market. The man who conducted the research received several life threatening calls from Ripple supporters despite the fact that he reached out multiple times to Ripple representatives for comment.

EOS Lynx Wallet Integrates Carbon Stablecoin

EOS Lynx, the first EOS mobile wallet that was launched in August 2018 has recently integrated with Carbon USD (CUSD) stablecoin. The EOS Lynx wallet not only allows you to transact with EOS but it also allows you to transact with any of the tokens that are built on the EOS blockchain at zero cost. CUSD is the first stable cryptocurrency on the EOS blockchain that is fully compliant and 1 to 1 backed by US dollar. Lynx users can now buy Carbon USD directly on the Lynx wallet and convert it into other coins after verifying their identity and linking their bank account to Lynx. On EOS blockchain users don’t have wallet address instead they use usernames which you have to buy when you set up your wallet.   

Tweet of the week
Meme of the week
Crypto word of the week

The term whale in cryptocurrency refers to an individual or a group of people that have large amount of crypto holdings and can manipulate the crypto market using their massive wealth. Whales are the big players, where the ocean is a metaphor for the cryptocurrency ecosystem.

Quiz answer

What is a Bitcoin testnet?

The correct answer is “C”.

The testnet is an alternative Bitcoin network that is used for testing Bitcoin-related applications. Testnet coins are separate and distinct from actual Bitcoins, and are never supposed to have any value.

Thank you for reading :) 

Have a great day!

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