"Paper money is going away. Crypto is far better way to transfer value."  ~ Elon Musk

The entire crypto market reached a new all time high of the year last week. The price of Bitcoin rose over $5450 and fell sharply within 12 hours to $5000. Currently Bitcoin is trading at around $5050, which is slightly lower than the price at which it started the week.  Both Ether and Litecoin fell by 8% to $161 and $78 respectively. Ethereum’s annual global conference series, EDCON was held last week in Sydney. The conference covered the latest Ethereum based projects and applications. At the EDCON conference Vitalik Buterin and his team rapped about Ethereum scaling.

The founder of the Wikileaks website, a cypherpunk and an early Bitcoin advocate, Julian Assange has been arrested by British Police. Assange has been hiding from the US authorities in the Ecuadorian Embassy in London since 2013. He is charged with leaking secret information and attacking government computers. Following Assange’s arrest Wikileaks’s Bitcoin address received about 6 Bitcoins which is about $30000 in just 24 hours. Wikileaks began accepting Bitcoin donations after banks and payment services like Visa and Mastercard stopped supporting it. In 2017 Wikileaks had received over 4000 Bitcoins that were worth over $22 million.

What is the smallest unit of Bitcoin called?

1. Finney
2. Satoshi
3. Bits

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

Blockstack is a decentralised computing network, which has publicly filed for a $50 million token offering under the SEC (Securities and Exchange Commission) Regulation A+ framework on 11th of April. The framework allows companies to sell up to $50 million worth of securities to non-accredited investors without formally registering them. It’s an important news as the token might become the first SEC-qualified token offering of its kind. Harvard Management, the firm that manages Harvard University's multi-billion dollar endowment, along with two other investors, are planning to  purchase over 95 million Blockstack’s Stack tokens, which would be a third of the total supply. Harvard’s intention to purchase $11.5 million worth of token is so serious that the submitted filing to SEC described the transaction will enter into force if SEC approves. The news shows that trust in regulated ICOs are increasing that even serious investors such as Harvard now wishes to participate.

Craig Wright, who claims to be Satoshi Nakamoto, is offering $5000 worth of BSV to anyone who uncovers the identity of an anonymous twitter user Hodlonaut, so Craig can catch him and sue Hodlonaut for calling Craig Wright a fraud. Hodlonaut is a respected twitter user who has created the Lightning torch movement. The crypto community has responded by changing their twitter avatar to a cat in a astronaut suit, which is Hodlonaut’s avatar. Also a crowdfunding campaign has been created to fund Hodlonaut’s legal defense, which reached its goal of $20,000. CEO of Binance, Changpeng Zhao stepped in and threatened to delist Bitcoin SV if Craig continues to go after Hodlonaut. The real Satoshi would never try to reveal someone’s identity against their wishes as Satoshi himself gone great lengths to protect his identity.

Distributed networks are networks that resides on multiple computers. The data, the processing of the transactions is spread across more than one computer, but the decisions may still be centralized.

What is the smallest unit of Bitcoin called?

The correct answer is “B”.

Satoshi is the smallest unit of Bitcoin. One Satoshi equals hundred millionth of a single bitcoin (0.00000001 BTC). The unit was named after the original creator of Bitcoin, Satoshi Nakamoto.

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Cheers, 
MrCoin
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