Blockchain Daily News – Edition 102, 24.11.2017
November 24, 2017
Blockchain Daily News – Edition 104, 28.11.2017
November 28, 2017

Blockchain Daily News – Edition 103, 27.11.2017

Blockchain Daily News

by Florin Oprea

Edition 103, 27.11.2017

Fans’ Section

Bitcoin Going Mainstream: Coinbase Has More Users Than Charles Schwab

Jon Buck – The Cointelegraph

In a sign of growing mainstream acceptance, digital currency exchange Coinbase now boasts more accounts than brokerage firm Charles Schwab. According to its website, Coinbase has 13 mln users while the number of Schwab brokerage accounts stood at 10.6 mln as of the end of 2016. These numbers don’t paint a complete picture, since the amount of assets controlled by Schwab certainly vastly exceeds those of Coinbase users. Nevertheless, the actual number of users indicates a massive volume of adoption, as the public begins to dabble in cryptocurrencies.

DNT: Wow! Coinbase user numbers have grown by 167% this year, as we are informed in the story. BTC is definitely going mainstream and, besides these figures, the most important proof is the offering of BTC futures by the Chicago Mercantile Exchange – first reported here, in Fans’ Section as well.

Bitcoin Is ‘Definitely Not A Fraud,’ CEO Of Mobile-Only Bank Revolut Says

Ryan Browne – CNBC

Bitcoin and other digital currencies are not “a fraud”, Nikolay Storonsky, the CEO of app-based bank Revolut said, ahead of the start-up’s plans to launch a range of services for cryptocurrencies.

Revolut’s co-founder said that, though people are less likely to use bitcoin in everyday transactions, the same could be said for commodities like gold.

Nikolay Storonsky: “Real-world usage for gold is quite limited. But still there is a huge market, huge volumes that are being traded in the market, and these volumes determine the gold price”. “The question, ‘Where is the real gold price?’ No one knows. It’s the same with bitcoin. Volumes are increasing, the price is shooting up, there is no implication of bitcoin in the real world, it’s quite limited.”

DNT: A welcomed alternative view and well argued as well. Storonsky also said that BTC market is similar to another commodity: oil. Regarding Revolut, the digital bank has passed 1 million customers just over two years after launch. More details in today’s FinTech Daily News bulletin.

Mark Cuban: Only Invest In Bitcoin If You’re Prepared To Lose Your Money

Kathleen Elkins – CNBC

Cuban: “It’s OK to invest up to 10 percent of your savings in high risk investments, including bitcoin and ethereum. You’ve just “got to pretend you’ve already lost your money,” he said, adding that it’s like throwing “the Hail Mary.”

DNT: Looks like billionaire Mark Cuban is joining the “bashing squad” of cryptos. However, if we want to be fair, there is some kind of truth in his remarks: when we make an “investment” or we speculate highly risk products, like derivatives for example, a possible loss has to be taken into consideration. That not means this products are a fraud.

Deals, Investments & M&As

Nordic Bitcoin Broker Seeks Investment To Boost European Expansion

Finextra

With expected revenue of €3M for the current fiscal year, the Finnish bitcoin broker Prasos aims to gain a leading position in Europe and reach €16M revenue in the next three years. To accomplish this, it is seeking funding on the Invesdor investment platform.

Cryptocurrencies

Zimbabwean Central Bank Considers Bitcoin ‘Illegal’

Joshua Althauser – The Cointelegraph

Zimbabwe’s central bank, Reserve Bank of Zimbabwe, has announced that the use of the cryptocurrency Bitcoin is not allowed in the country. The bank has already issued a warning in the past stating that investors in the digital currencies could lose their money without recourse.According to the Reserve Bank of Zimbabwe’s Director and Registrar, Norman Mataruka, the use of “Bitcoin … is not actually legal” within the country’s jurisdiction. It is not clear, however, if Bitcoin is just not officially recognized as an authorized currency or it is totally prohibited as a legal tender within the country.

DNT: Zimbabwe joins Team “Against” on our Crypto-Teams BDN Global Outlook. So, it’s time for an update:

Crypto-Teams BDN Global Outlook

Team “Pro”: Japan, Hong Kong + Singapore, Australia, United Arab Emirates, Bahrain, Cambodia, Kazakhstan, Catalonia, Argentina (new entry)

Team “Against”: China, India, Russia, Malaysia, South Korea, Indonesia, Lebanon, Taiwan and Zimbabwe – new entry.

Team “Neutral”: EU, USA, Canada

DNT: Oh, and check the Regulation section, we chose a related story about latest regulatory round-up

Bitcoin Used To Hide Catalonia Referendum Expenses, Spanish Police Warn

Jon Rogers, Maria Ortega – Express.co.uk

The regional government, led by Carles Puigdemont, paid companies like Amazon and Google in the cryptocurrency to finance the creation of websites and other services that related to the promotion referendum that had been declared illegal by the Spanish administration in Madrid, the Guardia Civil has claimed.

Bitcoin Gold Is Now The Fifth Largest Cryptocurrency By Market Cap

News BTC

The biggest surprise in all of cryptocurrency is how Bitcoin Gold is a top currency right now. With a market cap over $5.7bn, things look pretty solid for BTG. How this situation will evolve in the coming weeks, remains to be determined. The number of use cases for this altcoin is still pretty limited, and its value is purely speculative at this point.

DNT:  BTG evolves quickly…

Exchanges & Trading Venues

A Popular Cryptocurrency Exchange Is Hiring To Build Products For Wall Street’s Fastest Traders

Frank Chaparro – Business Insider

Kraken is one of the four crypto-exchanges that is set to contribute to the index on which Chicago Mercantile Exchange, the exchange giant, will base its bitcoin futures markets. Kraken CEO Jesse Powell outlined the exchange’s strategy in light of recent developments.Powell said Kraken is actively hiring to build out a number of units, including one to build tools for high-frequency crypto-traders.

DNT: Recently, Kraken customers  xperienced Slow loading speeds, HTTP errors or  trades failing to execute. Details here Exchanges & Trading Venues sSction

BitPeople

Vitalik Lays Out Ethereum 2.0 Roadmap In Taiwan

Jon Buck – The Cointelegraph

Vitalik Buterin, co-founder of Ethereum, has laid out the future plan of the Blockchain technology-based platform dealing with some of the biggest problems in Ethereum and suggesting how the future might shape up.

Latest Developments & Agreements

New Bill Paves Way For Adoption of Blockchain By US Government

Joshua Althauser – The Cointelegraph

The approval of the defense spending bill called the National Defense Authorization Act may lead to the mainstream adoption of Blockchain technology by government agencies in the US. This is because the bill has a provision called the Modernizing Government Technology Act that will allow the agencies to redirect their cost savings into internal working capital funds that can be utilized to modernize their IT systems.According to Information Technology Industry Council Senior Vice President of Public Sector, Trey Hodgkins, the US Congress wants the various agencies to have their own discretion on how to invest their savings.

Regulation

Regulatory Round-Up: South Korea Says Laissez Faire, Zimbabwe Dislikes And Singapore To Regulate

Samuel Haig – Bitcoin.com

South Korea’s Financial Supervisory Service has stated that it won’t regulate the digital token markets due to cryptocurrencies not comprising a legally recognized financial instrument. In central bank news, Zimbabwe’s central bank has stated that bitcoin is not legal, and Singapore’s central bank has launched the second public consultation for its newly proposed payments legislation. Here’s a regulator round-up.

Startups, Accelerators & Hubs

Sweden Is Evolving Into The Next Major Bitcoin Industry And Mining Market

Joseph Young – Cryptocoins News

Will Sweden Become the Next Cryptocurrency Mining Hub? Sweden is already the second largest fintech hub in Europe, with venture capital firms, practical policies, and startup accelerators in place.

Analysis

Nearly 4 Million Bitcoins Lost Forever, New Study Says

Jeff John Roberts, Nicolas Rapp  – Fortune

Just as gold bars are lost at sea or $100 bills can burn, bitcoins can disappear from the Internet forever. When all 21 million bitcoins are mined by the year 2040, the actual amount available to trade or spend will be significantly lower. According to new research from Chainalysis if Bitcoin is just not officially recognized as an authorized currency or it is totally prohibited as a legal tender within the country. 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Those numbers imply 17% to 23% of existing bitcoins, are lost.

Other news

Blockchain For Canadian Cannabis Industry

Tim Sandle  – Digital Journal

IBM have made a suggestion to officials in Canada that they evaluate the advantages of using blockchain to control the supply and management for the soon-to-be legalized cannabis industry

Opinion

Did Elon Musk Create Bitcoin? A Former SpaceX Employee Thinks So

Jared Polites – Cryptocoins News

Given the meteoric rise of mainstream cryptocurrency popularity, it should be no surprise that the elusive hunt for Satoshi, often referred to as the father of Bitcoin, has led to the theory that Elon Musk has been hiding a big secret from all of us. Sahil Gupta, a computer science student at Yale University and former intern at SpaceX, believes just this.

DNT: Imagination has no  limits! But… you never know for sure..

$10K Bitcoin By 2018? Looks Like Tim Draper Was On The Money

Jesse Damiani – Forbes  

As Bitcoin values continue to climb, the prophecy by the ‘Nostradamus of the markets’ is coming true. In September of 2014, in an interview with Fox Business, Tim Draper claimed Bitcoin would hit $10,000 USD in three years.

DNT: All chances for this prophecy to come true! Even earlier.  At the time of writing BTC was trading at $9,617

 

FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News