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Wednesdayâs edition of The Daily has a distinctly political tint, coming a day after U.S. voters turned out for the midterm elections. There was plenty to excite supporters on both sides of the divide â the pro and anti-cryptocurrency divide, that is. In addition to talking politics, we take a look at the new Stellar airdrop thatâs causing quite a stir.
Also read: Car Dealerships and Airport Limos in Japan Begin Accepting Crypto
Crowd Power Is the Midtermsâ Biggest Winner
It was widely predicted that the Democrats would regain control of the U.S. House of Representatives in the midterm elections, not least on decentralized prediction market Augur. The crowd-powered Ethereum application had close to $1.4 million in ETH staked on the outcome of the event, with 97 percent favoring the Democrats. For anyone interested in seeking crowd wisdom on other political events, Augur is currently calling a 36 percent chance of Donald Trump being re-elected in 2020.
Colorado Gains Pro-Bitcoin Governor
In addition to voting for the House and the Senate, U.S. citizens in 36 states cast their vote in gubernatorial elections, including Colorado. There, Bitcoin advocate and pro-tech candidate Jared Polis was elected as governor. The tech advocate and gamer earned a fond place in bitcoinersâ hearts in 2014 when he vowed to fight any attempt by the government to restrict the cryptocurrencyâs growth.
In another boon for bitcoin advocates, Gavin Newsom was elected governor of California yesterday. The 51-year-old Democrat was one of the first politicians to accept campaign donations in BTC back in 2014.
Blockchainâs Latest Airdrop Causes a Stir
BTC wallet service Blockchain.com is airdropping $125 million of Stellarâs lumens (XLM) to its users. The wallet provider recently launched a service allowing cryptocurrency developers to airdrop tokens to its 30 million users. The âfreeâ crypto comes with a catch, though: Wallet owners will need to undergo KYC to participate.
Today @blockchain.info came up with a new idea: go through a KYC process with your wallet account, potentially holding 7 years of Bitcoin transaction history, to get $25 worth of some random penny stock.
Please donât do this. If you want $25-worth of $XLM for some reason, buy it pic.twitter.com/redesYhLMG
â Udi Wertheimer [#reckless] (@udiWertheimer) November 6, 2018
While there are clear benefits of distributing tokens to as wide a community as possible, not least to Stellar, the $125 million giveaway will not change the fact that XLMâs ownership is highly concentrated. Excluding the tokens held by the Stellar Development Foundation, the top 100 holders possess almost 95 percent of all XLM. Airdropping 0.47 percent of the total circulating supply of 104 billion will not alter that. âThereâs nothing particularly exciting or âinclusiveâ about a centralized tokenâs KYCâd airdrop,â tweeted Matt Odell. âDonât sell your privacy for $25 âworthâ of XLM.â
To the folks at Stellar that are struggling with the very hard problem of fairly issuing a new currency; I am delighted to inform you that a certain S. Nakamoto solved the problem many years ago with a mechanism called "Proof of Work"
â nic carter (@nic__carter) November 6, 2018
Gwyneth Goes Goopy for Bitcoin
Celebrity endorsement of cryptocurrency is generally welcomed by the community, but bitcoiners arenât sure what to make of Gwyneth Paltrow shilling BTC. The fact that her pro-bitcoin article was authored by the CEO of wallet service Abra, which used the opportunity to promote its services, sat uneasily with many, with The Next Web exposing the links between Gwyneth Paltrow and Abra.
Great piece with @billbarhydt on @goop today https://t.co/cBoeHJ9ts7
â Gwyneth Paltrow (@GwynethPaltrow) November 5, 2018
Many bitcoiners, however, seemed more offended that their beloved cryptocurrency was being shilled by a site that sells $30 psychic vampire repellent and $55 vaginal steamers.
What are your thoughts on todayâs news tidbits as featured in The Daily? Let us know in the comments section below.
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.