Bitcoin (BTC) Push to Overthrow Gold Goes Viral – Plus Ripple and XRP, Ethereum, Litecoin, Stellar, Tron, EOS, Cardano
From a unique take on how Bitcoin stacks up against gold to Litecoin’s progress in early 2019, here’s a look at some of the stories breaking in the world of crypto.
A comparison highlighting how Bitcoin could beat gold as a leading store of value is going viral on Reddit. This image shot to the top of r/Bitcoin, showing how $1.6 billion in physical gold bars stacks up to $1.6 billion in BTC – stored in a tiny hardware wallet.
The contrast highlights some of the biggest strengths of cryptocurrency: The power to truly hold your own assets instead of relying on a bank for storage, and the ability to move capital anywhere in the world in an instant, without the need for armored trucks or middlemen.
In January, Venezuela’s embattled leader Nicolas Maduro was blocked from pulling $1.2 billion in gold out of the Bank of England, reports Bloomberg, who cited people familiar with the matter.
“The Bank of England’s decision to deny Maduro officials’ withdrawal request comes after top U.S. officials, including Secretary of State Michael Pompeo and National Security Adviser John Bolton, lobbied their U.K. counterparts to help cut off the regime from its overseas assets, according to one of the people, who asked not to be identified…
The Bank of England declined to comment on its handling of Venezuelan assets, saying it ‘provides banking services – including gold custody services – to a large number of customers’ and ‘does not comment on any of those relationships.'”
The debate over whether Bitcoin can outshine gold in the long run is as lively as ever. Crypto investment titan Mike Novogratz recently said he believes BTC can “easily” surpass gold’s $7.5-trillion market cap.
The latest edition of EthHub Weekly is out, covering all things Ethereum.
The new post looks at developments on Ethereum 2.0 and a number of Ethereum-based platforms, including Loom Network, Dharma, Maker and Kyber Network.
Ripple and XRP
Brazilian payments startup BeeTech Global is revealing how it’s currently using Ripple’s cross-border payment solution xCurrent to pass on savings to its customers.
In a new post, the company says it’s using the tech to power remittances in the Euro Zone, and plans to expand its use to the US and Canada.
Rumors that BeeTech is exploring Ripple’s XRP-powered xRapid have persisted for months, but so far the company has not made an official statement on whether it plans to test the technology.
The Litecoin Foundation has released a new update on YouTube. The video covers Litecoin’s latest price action, its rising hash rate and new adoption.
The creator of EOS, Block.one, is exploring the future of private key management. In a new post on Medium, the company highlights the weaknesses of traditional passwords and looks at new solutions offered by blockchain technology.
— Block.one (@block_one_) April 17, 2019
Crypto sleuths on Twitter say the crypto debit card company Wirex is playing a role in powering the Stellar network. The company appears to be running three Stellar validators, with the first appearing in late March.
— CD (@Crypt0bags) April 21, 2019
Tron’s latest weekly report is out. The new edition covers the platform’s work on the Sun Network scaling solution, the latest on BitTorrent Token (BTT) and more.
Cardano creator Charles Hoskinson just dropped a new ask-me-anything on YouTube. Hoskinson offers his thoughts on the recent IOHK Summit and the future of the smart contract platform.