A love message carved onto a blockchain is eternal. View in browser

"Bitcoin is just a massive conspiracy to teach you about economics, finance, politics and computers.”  Leo Weese

Market State

Last week we finally saw some growth in the prices. Within a few hours the cryptocurrency market gained $11 billion last friday. Bitcoin went above $3600 whereas Litecoin recorded the most gain. Litecoin Foundation is partnering up with Beam team to implement MimbleWimble. As a result of the partnership news the price of Litecoin rose by an impressive 30% and positioned itself as the fourth biggest cryptocurrency. Ether price increased by 14% while  Bitcoin Cash gained 5% increase during the week.   

Valentine’s Day is right around the corner! Did you know you can use blockchain and cryptocurrency to express your love as well?  Proof of Love, Ethereum decentralized application (dApp) carves a love message to the Ethereum blockchain that stays there forever. For a tiny amount of 0.002 ETH ($0.24) in your MetaMask wallet you can interact with the Proof of Love dApp which submits your love message to a smart contract. As a reference to your love message the transaction ID is embedded in a printable unique heart shape. There is a guide on how to fold the printed paper into a heart shaped origami which you can hand it over to your loved one.  

Check the latest Bitcoin Price
Quiz of the week

In what year is the last Bitcoin expected to be mined

  1. 2140
  2. 2050
  3. 3100

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

Top stories of the week
Argentinians May Use Bitcoin To Pay For Public Transportation

Public transportation in Argentina uses national rechargeable contactless smart card. These cards are used by over seven million people to pay for public transportation in 37 cities. Cardholders now will be able to pay transportation charges using Bitcoin. The integration of Bitcoin payment is a result of partnership between Alto Viaje, the travelcard-loading platform and Bitex, a fintech start-up. The main purpose of the partnership is to give people wider access to revolutionary technology as Bitcoin. Argentina is currently in the midst of a financial crisis, with high inflation rate which has led citizens to turn to Bitcoin to preserve their wealth. Travelcard top-ups with Bitcoin will further accelerate crypto adoption in Argentina.  

Bitcoin’s Lightning Torch Payment Goes Global

Last week the Bitcoin community on Twitter was engaged in a Lightning Network payment experiment called “Lightning torch”. The initiative was started with a Twitter user @hodlonaut who used Lightning Network tipping service, tippin.me to pass around micro transactions. Each person who receives the lightning payment, adds 10000 Satoshis (0.0001 BTC) and passes it on to the next person creating #LNTrustChain. The Lightning torch has been passed over 183 users around the world and accumulated 3.13 BTC. Here you can check out a short video showing the torch passed around. Once the Lightning torch payment reaches its limit (Lightning Channel capacity) of 4.29 million Satoshis ($157) the funds will be donated to @btcven (Bitcoin Venezuela).

Facebook Buys Into Blockchain

Facebook is moving ahead with its blockchain ambitions. It has hired researchers behind a blockchain start-up called Chainspace. Chainspace was founded and run by University College London researchers. The Brit team was specialized in smart contracts. The smart contracts firm is shutting down as they leave to join Facebook. The crypto community is curious about what Facebook could be building. Previously it was reported that Facebook is looking to integrate its own stablecoin through WhatsApp in India. Facebook is a huge company that has over 2 billion users. If Facebook creates a new cryptocurrency it could easily become the most used one.

Abra, Invest In Stock Using Bitcoin

US-based cryptocurrency wallet Abra enables its users to buy a fraction of traditional stocks, commodities, and indexes using Bitcoin. Abra is the world’s first all-in-one wallet that has a built-in exchange where users can exchange 30 different cryptocurrencies to 50 different fiat currencies. Additionally, the app offers popular US stocks such as Facebook, Amazon, Apple, Google and commodities like gold via Crypto Collateralized Contracts (C3). /See how C3 works in the “Crypto word of the week” section/. Abra app is available on both iPhone and Android. Users in 155 countries can now get early access, with zero trading fees for 2019. The minimum investment is $5.

Decentralized Lending Protocols Processed over $250 million in 2018

Digital asset lending platform Bloqboard released their 2018 report on lending activities on four major decentralized lending protocols namely Compound, Dharma, dYdX and MakerDAO. In 2018, the four lending protocol processed over $251 million worth of Ether (ETH), DAI, Augur (REP), 0x (ZRX) and Basic Attention Token (BAT). Loan volumes rose from $6 million as of December 31, 2017, to $72 million as of December 31, 2018 which is an increase of 1,200%. MakerDAO had approximately 81.4% share of all borrows and loans with over $204 million. Celsius Network has issued over $600 million worth of crypto-backed loans since its launch in July 2018.

Ripple Teams Up With 11 more Universities For Blockchain Research

Another 11 universities joined Ripple’s blockchain research programme called University Blockchain Research Initiative (UBRI). UBRI was first launched in June of 2018 and now supports 29 universities around the world to help further accelerate blockchain research. Newly joined universities are the National University of Singapore, the University of Sao Paulo, Institute for Fintech Research in Beijing and eight universities in the US. Ripple has committed $50 million to UBRI. Supported university partners get access to Ripple’s technology and tools for research purposes and develop course materials, award scholarships to students pursuing work in blockchain and cryptocurrency related subjects.

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

Crypto Collateralized Contracts (C3) use crypto as an underlying asset and peg it to the value of whatever asset the user chooses. For example if you want to invest $1000 in Google stocks you deposit $1000 worth of Bitcoin into a smart contract. If the price of Google shares goes up you will get more Bitcoin. If the price of Google shares goes down, Bitcoin will be subtracted from your contract. Crypto Collateralized smart contracts can work autonomously and automatically determines whether you made money or lost money.

Quiz answer

In what year is the last Bitcoin expected to be mined?

The correct answer is “A”

The last Bitcoin will be mined around the year 2140, and after that,no new Bitcoins will be created.

Thank you for reading :) 

Have a great day!

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