Coin Skim - Issue #6

Welcome to Issue #6! Share our cryptocurrency newsletter with friends and colleagues. Don’t leave the

Coin Skim

November 26 · Issue #6 · View online
The Daily Coin Skim

Welcome to Issue #6! Share our cryptocurrency newsletter with friends and colleagues. Don’t leave them behind. Too busy to read multiple articles and research regarding the state of Cryptocurrency? We got you covered. Get up to speed in 5 minutes or so!

Ethereum reaches a new All-Time High
The price of Ethereum (ETH) reached $483 USD for the first time on Friday. Many were once again reminded of the endless potential of ETH as many new technologies and startups are building their applications on this ecosystem. Currently, it is my preferred cryptocurrency when transferring value between exchanges. Not only are the transactions quicker but more inexpensive. There is nothing more frustrating than waiting for a transfer to be complete for more than 10 minutes, sometimes even 1 hour. 
Look at the initial coin offerings (ICO’s) that have basically exploded this summer. Most if not all used ETH over BTC to issue tokens due to it’s simplicity. However, that has not come without significant backlash. There has been some high level ICO that have ended in scams which have ultimately contributed in holding the price back. Overall, I think as institutional money starts to pour back in after a lull in general cryptocurrency investment, you will see Ether increase over $500 in value. 
Net Neutrality meets the Blockchain
Substratum UI Sneak Peek - YouTube
For those not following US news closely, the Federal Communications Commission (FCC) plans to repeal existing Net Neutrality regulations on December 14. This is due to the republican majority controlled boarded which is expected will vote 3-2. One of net neutrality’s objectives is that all content or applications shall have equal access regardless of who is the provider of that content. I will not dive into politics but there are strong arguments and valid reasons to keep net neutrality. Ideally, in a free market you can choose any Internet Service Provider (ISP) if you do not like their product/service. However in the US, this is not possible due to current monopolistic structures of ISP providers which have dominated the telecommunications market while collectively destroying any new competition that may arise. Most of the consumers only have one option and have no other choice but to use them. There is also unethical behaviors that may arise by providers favoring their own content over competitors with the so-called fast and slow lanes. This is why keeping net neutrality makes sense right now. 
Substratum is a project that aims to create a decentralized open source web hosting service where individuals can add storage to the existing chain. Another project that provides an alternative source of income for many people that continue to get involved within the cryptocurrency industry. It’s a self-governing technology that prides itself on keeping the internet free across the world even through countries that have strict restrictions such as China, North Korea, and Russia. 
Coinhive to branch out to Android Apps
It appears that Coinhive, a company that enables crypto mining through JavaScript, has begun spreading to places other than desktop browsers. Ars Technica reports that antivirus provider Trend Micro has caught two Android apps, Recitiamo Santo Rosario and SafetyNet Wireless App, that put the Coinhive crypto miners in a hidden browser window. The two apps had as many as 50,000 downloads combined. Ars Technica stated that “as the recent discovery of the Android Apps and the more than 500  hacked websites makes clear, Coinhive continues to turn a blind eye to the abuse of its service in much the way adware providers did in the early 2000s.” 
How does the hardware of modern day smartphones match up to laptops and computers? A recent Futurism article attempted to answer this question. C-Lab, an engineering team from Samsung, has been trying to find ways to repurpose older smartphones as consumers upgrade. They managed to hook up 40 Galaxy S5 smartphones and discovered that “they could mine at a greater efficiency than a desktop computer.” Even with 50,000 downloads and assuming that every phone is a Galaxy S5, the combined smartphones would match the power of less than 2,000 desktops. While it may not be feasible currently, future smartphones with more processing power may be attractive to app developers looking to sneak in crypto mining.
  • Confido may refund ICO investors after dubious law firm letter was released
  • Bitcoin Diamond (BCD) was created on Friday after the newest BTC fork. 
  • Many predict BTC will reach $10,000 USD. 
  • Australian Government awards a contract to Power Ledger (POWR) to the city of Fremantle. 
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Coin Skim does not provide nor intends personal investment advice regarding cryptocurrencies. Please conduct your own personal research and reach your own conclusions regarding cryptocurrency trading and investing. This newsletter does not provide individual or customized legal, tax, accounting, or investment services.
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