The Raven’s Dispatch – The Week in Cryptocurrency – June 21, 2018

BITHUMB HACKED – $30 Million in crypto lost

“Just when I thought I was out, they pull me back in!” Just when we think the bulls are gathering the troops, the hackers (and exchange) bring us back down. One of the largest exchanges in the world, Bithumb, based in South Korea was recently hacked for $31 million. How did that affect the Bitcoin price? Not much. We are still holding that $6000 support, fam.

The top 5 in terms of marketcap remains unchanged but all showed weekly growth as per the Livecoinwatch image below. The overall cryptocurrency market in the past week increased from $279bln to $289bln representing a 3.5% increase in the past seven days. Your bags are not the only ones suffering. EOS is the only in the top 5 which did not recover as well week to week, likely to do with the news of the “constitutional crisis” their block producers are having.

Bitcoin:  BTC dropped 4% to $6772 in the past week as of this post. Even with the news of the Bithumb hack Bitcoin held that strong $600 support and showed signs of life. How many more Bart patterns are we going to see this year? It wouldn’t surprise me if “The Bart” becomes an accepted crypto technical analysis pattern in the future.

Ethereum: Aaaaand it’s back. Or is it? ETH grew 10% over the past week settling at $537 as of this post. I don’t really see many people saying “buy ETH at $500, you will never see it again” on the social media anymore. I wonder why?

TETHER (USDT): Tether is back in the news this week so we figured we would highlight it in this weeks Dispatch. The idea behind Tether to have each USDT token backed 1:1 by USD reserves. By holding a US dollar for every USDT Tether token, Tether claim that the value is pegged to the USD and will remain stable. The very definition of a stablecoin.

This is great for people looking to secure profits from their holdings, and even better for day traders – nobody wants to profit by exchanging one coin for another only to see both plummet in value. This is great idea, unfortunately the lack of transparency from Tether itself has many doubting each token is backed by a US dollar.

There is not much in terms of price to discuss, because Tether should never deviate from it’s value of $1. That’s not the case as you can see below. USDT has deviated from it’s 1:1 pegging of the dollar, most drastically when it came onto exchanges in February 2015 and again between April and June 2017.

What’s new at Crypto is Coming

Square Granted Bitcoin Trading License – Payment processing company Square has been granted a New York BitLicense, which enables them to operate a cryptocurrency exchange and allow New York residents to trade Bitcoin.

Law firm Freeh, Sporkin & Sullivan LLP (FSS) confirms Tether fully backed by USD – The often criticised and controversial company Tether shared a “transparency update” via twitter yesterday.

Total Dominance: The Story of Binance – The exchange has seen meteoric growth, reaching the highest volume of any exchange just six months after launch and valued at almost $2 billion within the same time frame, making it the fastest ever platform to reach ‘tech unicorn’ status.

Crypto Facilities To Launch Litecoin Futures – UK cryptocurrency exchange, Crypto Facilities, is set to launch Litecoin derivatives contracts from Friday, June 22, according to rumours. The exchange will be offering both short and long positions with weekly, monthly, and quarterly maturities for LTC joining Bitcoin (BTC) and Ripple (XRP) futures. The exchange also added Ethereum (ETH) futures last month.

Underdog EOS Block Producers you should root for – The purpose of this piece is to highlight some of the best candidates at risk of not getting enough votes to earn a spot, and why you might want to support them with your vote, to have a more decentralised and stronger EOS network.

EOS BPs heavily controlled by exchanges (2 from Huobi) and other potential issues – Adding to our recent series of posts on EOS, Nic Carter did a quick recap of the current 21 EOS block producers filtering them by organization, % of stake, affiliation with any cryptocurrency institution, geographical legal jurisdiction. Makes sense to vote for those underdog BPs, eh?

EOS leaving exchanges vulnerable to hacks? – Whoa, that’s a lot of heat for EOS  aint it? Crypto enthusiast Emin Gun Sirer put up an interesting thread today on twitter predicting a massive exchange hack in the next 12 months….all because of potential EOS vulnerabilities.

Is this the cryptopocalypse? Visualizing historical BTC corrections – Check out this visual from the crew at An easy way to put things in perspective and calm your nerves.

Tezos Refusing To Relinquish Funds Unless Customers Reveal Their Identities – Say what?! Tezos, a much-anticipated smart-contracts platform aiming to rival Ethereum with added features such as self-governance, is holding user contributions to the ICO hostage pending completion of KYC (Know Your Customer).

How money flows into and within Crypto (cool visualization) – Cool visual representation of how money flows in cryptocurrency from Really easy way to view how money comes into crypto from fiat currencies and how it moves within the ecosystem once it’s there.

What Is A Mainnet Launch and which upcoming launches should you keep an eye on – We have a look at what is a Mainnet, why it matters for your investment and the upcoming mainnet launches you should keep an eye on.

How cryptocurrencies compare with Visa and Paypal – This graphic shows how the top cryptocurrencies (by marketcap) compare to VISA and PayPal in terms of transactions per second.

Explaining Augur for Beginners (infographic) – Augur is highly touted project in the cryptocurrency industry. With its launch date approaching, we decided to take a closer look at how the platform actually works. At it’s core Augur is a prediction market built on top of the Ethereum Blockchain.

Bitcoin ATMs around the world (visualization) – Are there any Bitcoin ATMs in your neck of the woods?

Interview: Gregor Zupanc – DAA Fund Manager at ICONOMI – If you haven’t already, check out our latest interview of ICONOMI DAA fund manager Gregor Zupanc. Get some insight into how they select which crypto to include in their fund Solidum Capital.

Bitcoin hash rate spiking to all time high…despite price slump – Miners don’t seem to be worried about the price in the short term with new entrants continuing to enter the market.

Cryptocurrency news from around the internet

Korean crypto exchange Bithumb says it lost over $30M following a hack – Just weeks after Korean crypto exchange Coinrail lost $40 million through an alleged hack, another in the crypto-mad country — Bithumb — has claimed hackers made off with over $30 million in cryptocurrency.

Bitcoin Is Controlled by China, Won’t Disrupt Banks: Ripple CEO – Wow, salty much? Since Coinbase announced Ethereum Classic (ETC) would be the next available coin on their platform the Ripple CEO has been on angry fit.

Here’s why EOS will confiscate your tokens if you HODL for too long – Bad news keeps rolling in for EOS.

Goodbye, Denver Post. Hello, Blockchain – They left The Denver Post amid newsroom layoffs and interference in the editorial process by the newspaper’s hedge-fund owners. And now those reporters and editors are creating their own news outlet, The Colorado Sun.

Research: Tether, Bitfinex ‘Manipulation’ Reason Behind 2017 Bitcoin Price Highs – EOS and Tether can’t catch a break this week. Tether (USDT) has once again become the source of criticism after a new study blamed it for Bitcoin price manipulation in 2017, The New York Times reports Wednesday, June 13.

‘Evolve & Adapt’: Goldman Sachs May Trade Cryptocurrencies, Not Just Futures – My, my, my how times change…In less than 6 months. Investment banking giant Goldman Sachs is getting more serious about launching a full-scale cryptocurrency trading operation.

29% of High Net Worth Individuals Have a High Degree of Interest in Crypto – Capgemini’s 22nd annual World Wealth Report, which tracks investment trends of high net worth individuals, found that more than half of those surveyed have at least some interest in cryptocurrencies.

Nasdaq CEO says ICOs are ‘taking advantage’ of retail investors – Initial coin offerings have serious potential to rip off retail investors, mostly due to a lack of public information, according to Nasdaq CEO Adena Friedman.

‘Selling Crypto Now Is Like Selling Apple in 2001’, Says eToro CEO – Just #HODL

Walmart wins patent for medical records stored on blockchain – Walmart has been awarded a patent for a system that would store a person’s medical information in a blockchain database and allow first responders to retrieve it in the event of an emergency.

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EOS BPs heavily controlled by exchanges (2 from Huobi) and other potential issues

EOS has recently come under fire recently from critics arguing that they could be leaving exchanges vulnerable to hacks as well as for their consensus protocol and Network constitution. Adding to our recent series of posts on EOS, Nic Carter did a quick recap of the current 21 EOS block producers filtering them by organization, % of stake, affiliation with any cryptocurrency institution, geographical legal jurisdiction and any miscellaneous note that could prove relevant. This could prove useful to keep track of centralization in terms of consensus and governance for this new project.

As you can see from looking that the BPs, they seem heavily weighted towards China (29%) with a lot of exchange influence (Huobi figuring prominently with 2 BPs). Another issue is that EOS Dac conducted an airdrop which could be misconstrued as a form of bribe to voters as well as 1 completely unknown BP, Zbeosbp11111.

Let us know know if you have any information that could update this chart, or hit him up on twitter with corrections. Sources for the chart can be found here and here.

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Underdog EOS Block Producers you wanna root for

Hello EOS, Hello World.

You might have been watching the EOS mainnet launch over the past few weeks. The early results are in and they are on the one hand inspiring and on the other maybe worrisome. On the positive side, we have ONE mainnet. Considering the possibility of there being 5 or more, only a few weeks ago, we think we can breathe a sigh of relief. The mainnet launched without big bugs, chain reorgs, big security flaws. We achieved the 15% voting threshold in spite of the quirky state and difficulty of voting. Many who could have lost their tokens were able to recover them thanks to EOS authorityEOS cafe having fixed bugs early and created a workaround to token registration. Thanks to EOS 911, a collective effort by several leading BP’s, people who got scammed out of their private keys during this period, might get their tokens back, if they gather sufficient evidence for their claim. That’s a lot of pretty good news.

Now, on the not so great side, we have seen the early voting for BP’s heavily concentrated on the top 30. Many outstanding teams have not “made the cut” of a minimum of 0.5% of votes needed to obtain “Standby BP” status. Some are quite disappointed, since the original EOS proposal promised 100 standby BPs. At the moment of writing, “only” 30 standby BP’s have enough votes to get rewards. The change to have a minimum of votes, (currently around 8 Million EOS votes are needed) was put in place to prevent “fake standbys” from voting themselves in, without actually running nodes. Some believe that the rule is a little too harsh, considering many great teams, who have been contributing time, effort and computing for months, have been or are close to being left out of the standby role. A stronger EOS is a network with many more competent standby nodes earning EOS. This will make EOS much more resilient to censorship and attacks. Also, think of the talent that will be dedicated to EOS development in many locations impacting their professional networks because of the fact alone that they can work full time on our blockchain. If less standby nodes exist, less talented people will be dedicating their time to improve EOS.


The purpose of this article is to highlight some of the best candidates at risk of not getting enough votes to earn a spot, and why you might want to support them with your vote, to have a more decentralised and stronger EOS network. We are only including in this list, those BP’s teams which we have seen make contributions to the community, who are either out for the moment or who are at risk of losing their spot if more votes for the top BP’s keep distancing them from the top.

A small caveat to make here is most of the BP’s on the top have excellent teams and have also made many contributions, kudos to them for their success. However, we believe that there are many teams that have made excellent contributions and deserve your consideration. Additionally, most on this list are from locations that is not well represented on or near the top of BP votes. Remember, it’s UP TO YOU, the voters, to keep EOS decentralised! And also, this list is not exhaustive, please comment on other “underdogs” you would like to see on this list, and why you think they deserve more votes.

  1. EOSDUBLIN: Sharif and company have been leaders throughout the EOS launch, hosting calls with over 150 people from all over the world, helping to organise the agenda, keep the conversation from going on tangents and working hard on making sure EOS security is considered among all the excitement. They are close to losing their spot as stanby’s and could use your vote.
  2. HKEOS These guys out of Hong Kong have been involved in the Ghostbusters launch and been very active in the pre-launch and launch phases. They have earned the respect of our tech team for their continued contribution to the coordination of launch and high technical ability.
  3. Eostribe Some of the biggest promoters of EOS we have seen. Passionate advocates of Bare Metal nodes (see our post expanding on this tricky subject here). On their team is Eugene Luzgin, a cyber security expert with loads of knowledge that would be a shame for EOS not to have on board. The EOS tribe have put out several infographics that have helped educate the general public about EOS. They also deserve a shot.
  4. JEDA Japanese, so Japanese, we are fans of JEDA. They have been constant in their participation during launch and pre-launch, and let’s face it, in order for EOS to reach its potential, we need a node in Japan. Just do it, just vote for JEDA.
  5. EOSDetroit We at eosMeso feel like EOSDetroit are our brothers in arms. They have a large team of committed underdogs, high tech skils and awesome community. Detroit is becoming an important tech hub and if elected as BP’s we are confident these guys will attack the challenges of “de-industrialization” facing so many cities in the US and elsewhere. Vote for groups with soul, like EOSDetroit!
  6. Blocksmith Few groups have as committed IT engineers as Blocksmith. These guys have hustled for months in preparation to the launch and tokenholders already owe them some gratitude for making sure that the launch went smoothly. At eosMeso, we don’t agree with their policy of burning eos to preserve its value, but we deeply respect their show of collaboration, devotion to the doing the right thing and professionalism shown during the stressful times of pre-launch and launch.
  7. AlohaEOS In Hawaii, so of course you should look into them to relay blocks quicker from Asia to America. They have been on all the calls and participated in many testnets. Aloha to them from eosMeso!
  8. Emerge Poland Eastern Europe is a powerhouse of tech talent and a hotspot for EOS adoption. Emerge want to use a local cloud solution, like eosMeso. We must say, we believe this to be an intelligent midway point that allows for fast growth when the blockchain will need it, but doesn’t make EOS rely on the “traditional clouds” that share resources with other apps and gives leverage to the 500 pound Gorillas of the Internet.
  9. EOS REAL Out of Singapore and with a global team, EOS Real has been helping out everybody all they can for a while now. Their weighted approach to evaluating BP’s shows their commitment to transparency, reason and fairness. They have been participating on somewhat invisible tasks in Governance and generally helping out with communications between east and west. They deserve for you to look into them and be considered for a vote.
  10. eosMeso These guys have assembled a truly awesome team, very decentralised and multidisciplinary. The region they are from is under represented in EOS, and they look like they can greatly accelerate the adoption of EOS in this place, with many many millions of potential EOS holders. They also have great connections to the latino community in the United States. They have TV stars, famous musicians, University professors, as well as 24/7 IT personnel ready to watch their nodes and several tech entrepreneurs working on DAPPS. Jose and Stuardohave been in the governance and developer channels making contributions for months, and Prof Gramajo has ample experience managing nodes for banks and utility companies, as well as blockchain nodes.Full disclosure: These guys are the ones writing this article!

There are many teams out there competing for your vote, this list is comprised of those we have seen contribute and not be as recognised as others. If you are not included here, it only means we have not seen your contributions yet, or you already have lots of votes or you came in to the race much later than the rest. We hope that tokenholders show appreciation for more and more strong BP candidates as the votes keep tallying so we can have the strongest, most decentralized EOS as is possible.

Cheers to EOS, Cheers to Life, Liberty and Property!

The eosMeso team.

submitted to Cryptoiscoming by the eosMeso team.