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Inside Bitcoin

Inside Bitcoin (Feb 11th, 2019)

$BTC (1:51 p.m. EST): $3,653.31 (-0.12%) // 90-day high: $6,286.41 // 90-day low: $3,286.14 / / More

$BCH ABC (1:51 p.m. EST): $123.09 (-0.84%) // 90-day high: $432.88// 90-day low: $80.95 // More

$ETH (1:51 p.m. EST): $121.59 (2.40%) // 90-day high: $201.35 // 90-day low: $86.08 // More

$LTC (1:52 p.m. EST): $42.99 (-8.01%) // 90-day high: $49.19 // 90-day low: $22.09 // More

$XRP (1:52 p.m. EST): $0.30 (-0.22%) // 90-day high: $0.52 // 90-day low: $0.28 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. The Lightning Network has surpassed 6,000 nodes thanks, in part, to the publicity created last week from the Lightning Torch relay. The Lightning Torch is a payment made using the Lightning Network that has been shared on Twitter to more than 150 users, including Twitter CEO and Square founder Jack Dorsey. The torch was intended to show crypto users the ease of the Lightning Network. That has apparently worked as 1ML.com, a data monitoring resource, said the Lightning Network currently has 6048 reachable nodes and almost 25,000 channels. This creates a capacity of 660 BTC, worth about $2.39 million. –BITCOINIST

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2. Ethereum has passed XRP in market capitalization, retaking its place as the second largest cryptocurrency. The price of ethereum rose about 3 percent early Monday. Billy Bambrough, a crypto analyst at Forbes, cites heavy trading from some ethereum whales. Bambrough, looking at data from the @whale_alert Twitter feed, said that whales have moved $8.5 million in ethereum in the past 24 hours. Ethereum is not the only coin that has been on the move. Litecoin, thanks to some huge gains last Friday, has become the fourth largest cryptocurrency, passing coins like EOS and tether over the past week, although it has taken a fall so far today. –FORBES

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3. Binance plans to charge nearly $100,000 to list new coins on the company’s decentralized exchange, Binance Chain, CEO Changpeng Zhao said in a AMA. Zhao said the high price tag is in order to reduce the number of spam or scam projects. Zhao added that the price will fluctuate over time based on demand, but Binance is committed to not listing poor quality projects, although the company has yet to disclose what kind of controls will be put in place to stop that from happening. –COINCODEX

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4. Hester Peirce, the US Securities and Exchange Commission commissioner affectionately known as CryptoMom, criticized her fellow commissioners over the bitcoin ETF approval process. Speaking at the University of Missouri Law School, Peirce said the SEC has acted as an investment advisor when it comes to cryptocurrency, as opposed to a regulator looking at the fair operation of capital markets. “We are substituting our own judgment for that of potential investors in these products,” she said. “We rightfully fault investors for jumping blindly at anything labelled crypto, but at times we seem to be equally impulsive in running away from anything labelled crypto.” –BITCOIN EXCHANGE GUIDE

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5. Bitcoin Cash developer Amaury Sechet claimed on Twitter to be Satoshi Nakamoto – something the Internet does not believe (if Sechet is even being serious). –CCN

6. Bloomberg has the ugly story of a Canadian man who lost more than $400,000 in the Quadriga CX mess. –BLOOMBERG

7. Jeff Sprecher, the CEO of International Exchange, said the digital asset platform Bakkt will come “later this year,” marking the second time he has pushed back the launch date. –COINGAPE

8. Clothing retailer and shopping mall staple H&M announced it will begin accepting cryptocurrency payments through the Chimpion e-commerce platform. –SMARTEUM

9. Last week, the Justice Department charged 20 people for their alleged role in using cryptocurrency to launder money from fraudulent car sales on eBay. –THE NEXT WEB

10. Flib Flib, a cryptocurrency researcher, argued on Twitter that bitcoin needs to pass $7,000 per coin for miners to become profitable. –NEWS BTC

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies) and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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