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Are Stablecoins the Future? The Winklevoss Twins Seem to Think So!

Are stablecoins the future of crypto? Cameron and Tyler Winklevoss, Bitcoin bulls and Gemini Exchange founders, seem to think so. This morning, an interview was published by Fortune where the twins discussed their first marketing campaign for Gemini.

Stablecoins and Gemini

The famous twins feel digital currency has a bright future, but there need to be banking-style regulations in order for investors to trust it.

“The idea is that companies that build on top of things like Bitcoin should have regulation that’s thoughtful and that doesn’t stifle innovation,” said Tyler on Fortune’s
‘Balancing the Ledger.’ “People believe in the dream of crypto, they just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.”

The newly launched Gemini campaign encompasses just that and is called ‘Revolution Needs Rules.’ The Winklevoss Twins have the ad spread all across Wall Street and have even purchased a full-page in the New York Times.

Crypto has been in quite the bear market the past year, and the twins believe that stablecoins (digital currencies pegged to a fiat currency) are a bright spot for this downturn. It just so happens that the twins have created their own stablecoin for their platform named the Gemini Dollar, pegged to the US dollar. Stablecoins seem to be the new trend among the crypto community, as crypto’s high volatility seems to be its biggest deterrent.

>> Ethereum-Based “Stock” Exchange DX Plagued with Security Issues

However, like Tether (USDT), it is hard to tell if the coin is really pegged to the dollar and how that process even works. The Winklevoss twins explained in their interview that at least 60% of US 100 dollar bills are held overseas. They think this practice could be simplified if the holders just used stablecoins, instead of actual dollars.

With so many new stablecoins in circulation now, it will be difficult to keep up with them all, but the fakes can easily be exposed since they all should hold the same value.

Featured Image: Depositphotos © -Taurus-

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Ethereum Classic Attack | Gate.io Will Return Most Funds

On Sunday, rumors spread around the community that there had been a double-spend attack on Ethereum Classic. The team behind the project immediately responded to the rumors, to ease investors.

Since Sunday, the Ethereum Classic attack has been confirmed, and the culprit has fessed up. During the week, the devs behind the project asked exchanges and pools to significantly increase their ETC confirmation times. Many in the community felt the Ethereum Classic team was trying to downplay the extent of the situation.

Ethereum Classic Attack Uncovered

The devs behind the project have officially responded with all the information they’ve dug up on the matter and expanded it into two posts.

The other post released most recently and can be seen below.

Donald McIntyre wrote a long blog post via Medium regarding the attack and details of the ‘post mortem’ meeting. The blog post by MacIntyre covers the majority of the information on the attack, including the dates, amounts, and who was affected.

The double-spend attack occurred from January 5th to January 7th. The Ethereum Classic attack included at least 15 double spend transactions that had at least 219,500 ETC stolen. Coinbase was the exchange that originally found the attack.

>> TRON (TRX) Up Almost 50% This Week: What’s the Deal?

SlowMist, a team focusing on security of the blockchain identified the culprit addresses that originated from Gate.io and Bitrue.

Gate.io has already confirmed it will cover 40K ETC losses for all of its users that had ETC stolen.

During the meeting, the team behind Ethereum Classic discussed how to prevent this from happening again and steps to take if it does occur. There was no monitoring system in place to alert the team of the double-spend, and the team has deemed this a top priority.

In addition, the devs behind Ethereum Classic have asked exchanges to increase their confirmation times on the digital token.

Featured Image: Depositphotos © akulamatiau

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Litecoin’s Charlie Lee Sparks Twitter Battle Over “Bitcoin Extremists”

Charlie Lee is at it again. The Litecoin founder isn’t shy when it comes to voicing his opinion on crypto via Twitter and yesterday was no different. It seems this time, he’s targeting Bitcoin maximalists.

Charlie Lee vs. Bitcoin Maximalists

It all started with a poll.

It seems Mr. Lee isn’t happy with a group of self-proclaimed Bitcoin maximalists. The Litecoin founder goes even as far as calling them “extremists,” which isn’t generally a positive thing to call someone.

In 23 hours, Charlie Lee has collected over 28,000 votes on his poll and Bitcoin maximalist has taken over the majority of it. At press time, Bitcoin extremist has 9%, altcoin maximalist has 33%, and nocoiner has 10%. That leaves the remaining 48% to individuals who deem themselves Bitcoin maximalists.

Traditionally, maximalists believe that Bitcoin (BTC) is the top cryptocurrency and the one to use day-to-day. Where Lee seems upset is that a group of these maximalists have attacked his own project and feel there is no space for any altcoins in the industry. This is what prompted the Twitter poll and attack on these so-called “extremists.”

Others had their own take on the poll and subject, as usual.

Another person actually knocking Litecoin said:

Not sure why the person above bought Litecoin because they thought Charlie Lee was a “good person” but that’s probably someone that shouldn’t be investing—just my opinion. Binance’s CEO even joined into the conversation.

>> Monero “Mistake”—Now You Can’t Pay for Fortnite Merch with Monero

From all the rest of the conversation via the initial tweet, it seems Lee isn’t the one who made up the term Bitcoin maximalists. He took that from Vitalik Buterin, Ethereum’s co-founder. It remains unclear why Bitcoin (BTC) supporters need to be placed into a category, but the altcoin leaders, like Charlie Lee, obviously feel it’s necessary.

According to CoinMarketCap, BTC broke over the $4,00 threshold recently and is currently trading at $4,044.75 a coin, down – $0.97%, in 24 hours.

Featured Image: Depositphotos © GekaSkr

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Monero (XMR) Now Accepted at Fortnite Merch Store!

Just as 2017 was the year of cryptocurrency, 2018 was the year of Fortnite. And now those two worlds are colliding. Recently word spread that the Fortnite merchandise store is accepting Monero (and XMR alone) as a form of payment.

Monero Accepted At Fortnite Merchandise Store

Fornite became immensely popular last year, enough to open up Retail Row, an official supporting retail store. And while some are questioning the choice (XMR has previously been subject to crypto jacking), it’s an overall win for the crypto space. After all, the more crypto adoption from universally recognized companies, the more traction the crypto industry will gain, not to mention the attention individual virtual currencies will gain.

Monero (XMR) broke the news on January 1st, 2019, via Twitter. The tweet garnered 183 retweets and 659 likes.

Many were in favor of the news.

Things to Note

For those who want to purchase Fornite merchandise using Monero (XMR), Riccardo Spagni says you have to “go to the regular checkout,” and not to use “Apple Pay or PayPal’s checkout.”

>> DX.Exchange: Nasdaq-Powered Crypto Exchange Offers Tokenized Stock

Impacts on XMR

Two days after the news was announced, XMR is down 3.97%. However, that might not have anything to do with the news, as the majority of cryptocurrencies are in the red zone today, January 3rd, 2019.

Monero
Source: CoinMarketCap

The Takeaway

Whether you are a fan of Monero (XMR) and Fortnite or not, it’s difficult to argue that this isn’t a monumental move for the crypto space. After what was a relatively dismal year for the industry (in comparison to 2017), this integration may be what the industry needs. And who knows, maybe other official stores will follow in Fortnite/Retail Row’s footsteps.

What do you think? Are you going to purchase any merchandise? Moreover, would you have rathered Retail Row accept virtual currencies like Bitcoin (BTC) or Ripple (XRP)? Let us know what you think in the comments below! And happy gaming!

Featured Image: Depositphotos/SergPoznanskiy

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Ethereum (ETH), EOS, and Litecoin (LTC)

Ho-ho-ho, looks like Santa put crypto on the nice list. Crypto is in the green today! We’re going to take a closer look at Ethereum (ETH), EOS, and Litecoin (LTC) to see if anything is going on with these coins.

Let’s dig in!

Ethereum ETH

At the time of writing, ETH is selling for $135.10, which puts the coin up 14.02% in the past 24 hours.

Ethereum
Source: CoinMarketCap

With a market cap of $14.06 billion, Ethereum is now the 3rd largest cryptocurrency, beat out by Ripple (XRP) not too long ago, and of course, Bitcoin (BTC) as usual.

The Ethereum team is currently looking for dApps that will have an impact on the economy and on communities across the globe by solving real-world issues. If you’re building a dApp for ETH that you think is worthy of the cause, then consider filling out the survey provided by the team. You might just have the next big dApp!

EOS

At the time of writing, EOS is selling for $2.68, which puts the coin up 13.03% in the past 24 hours.

Ethereum
Source: CoinMarketCap

EOS is the 5th largest cryptocurrency and has a market cap of $2.43 billion.

Like the Ether team, Block.one is also on the lookout for dApps being built on the EOS blockchain. People interested in sharing their EOS dApps are welcome to email the team at spotlight@block.one.

>> Coinbase President: Despite Bitcoin Price Crashes, 2018 was an Innovative Year

(Hands up if you’re developing an Ethereum or an EOS dApp!)

Block.one kicked off the holiday season with a laugh, uploading a behind the scenes blooper reel to its Twitter page:

Litecoin LTC

At the time of writing, Litecoin is selling for $32.57, which puts the coin up 14.23% in the past 24 hours.

Ethereum
Source: CoinMarketCap

Litecoin has a market cap of $1.95 billion and is currently the 7th largest cryptocurrency.

Charlie Lee recently announced that Litecoin has become the official cryptocurrency partner of the UFC. In honor of this, the Litecoin logo will be on the mat! Get ready fighters—it’s Litecoin coming in for the win!

Featured image: Pixabay

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