Blockchain Daily News – Edition 118, 20.12.2017
December 20, 2017
Blockchain Daily News – Edition 120, 22.12.2017
December 22, 2017

Blockchain Daily News – Edition 119, 21.12.2017

Blockchain Daily News

by Florin Oprea

Edition 119, 21.12.2017

Fans’ Section

Real ‘Wolf Of Wall Street’ Slams Bitcoin Again: It’s A ‘Huge Danger’ And A ‘Bubble’

Ruth Umoh – CNBC

Jordan Belfort, the real “Wolf of Wall Street,” is once again warning against buying into bitcoin.

Belfort: “There’s no regulation on the actual level of bitcoin itself,” “Yeah there’s futures regulation but the underlying asset is completely unregulated. It’s a dark market.”

FAO: Even if he said the opposite it would have had the same importance for me, since it comes from this dude…none whatsoever…

DNT: Regarding this statement, I’m gonna ask you to read a previous comment of mine from October – find here, Fans’ Section as well. I reiterate the short version: can you trust a “wolf”? FAO: I “woof” not…

Bitcoin Is Biggest Bubble Of Them All, And It’s The Fed’s Fault, Says Ron Paul

Stephanie Landsman – CNBC

He’s taken on President Donald Trump and the Federal Reserve. Now, libertarian former congressman Ron Paul is taking on bitcoin. According to Paul, cryptocurrencies have become an asset that rivals the bubble he sees in stocks.

Ron Paul: “I think it’s going to continue to do exactly what it’s doing. It’s going higher and it’s going lower“..”We can look at what’s happening now, which to me is a climactic end of QEs.”

FAO: With all due respect, is there anybody else left to discuss bitcoin? Q: What will CNBC do when their list of names is all ticked? Call them again?

Desperate Bitcoin Investors Who Forget Their Passwords Are Resorting To Hypnotherapy

Keshia Hannam – Fortune

Help is in sight for that batch of early-Bitcoin-adopters who are sitting on untapped bounties because they’ve forgotten the passwords needed to get into their ‘wallets’. A hypnotist in South Carolina has recently begun offering to help people recall forgotten passwords or find misplaced storage devices. Jason Miller charges one bitcoin plus 5% of the amount recovered–though he claims that rate is flexible.

DNT: OMG!

FAO: I found this famous quote about hypnosis, need I say more? “Think twice before you speak, because your words and influence will plant the seed of either success or failure in the mind of another.” – Napoleon Hill

Infamous Short-Seller Andrew Left Scrambling For Ways To Bet Against Bitcoin

Evelyn Cheng – CNBC

Short-seller Andrew Left can’t find enough ways to short, or bet against, bitcoin.

Deals, Investments & M&As

IOTA Gets Substantial Investment From Bosch Group VC

Jon Buck – The Cointelegraph

The Robert Bosch Venture Capital GmbH (RBVC) has made a significant investment in IOTA, according to sources close to both companies. This is the first investment in Distributed Ledger Technology for Robert Bosch VC.

FAO: Surprising? Not really…In case you don’t know IOTA is an open-source DLT providing secure communications and payments between machines on the Internet of Things.

Cryptocurrencies

U.S. Regulator Plays Down Bitcoin Fears, Backs Fintech Charter

Michelle Price – Reuters

Joseph Otting, the new Comptroller of the Currency, said that bitcoin does not currently pose a threat to the country’s banking system and that there is “space” for innovative fintech firms to operate in the traditional lending business.

FAO: What did I say yesterday about bitcoin meaning new business for everybody? Check my commentary on remarks of Interactive Brokers Chairman, Thomas Peterffy.

Regulators To Look At Cryptocurrency Rules – Carney

Mark Carney – Financial Times (subscription)

Bitcoin’s Risks To Financial Stability Don’t Worry Mark Carney

Lucy Meakin – Bloomberg (subscription)

The Governor of the Bank of England (BoE), Mark Carney, isn’t worried about the financial stability risks of bitcoin. He and his colleagues at the BoE are more interested in how it works.

FAO: Yeaaah. My previous comment is valid here also.

Litecoin Founder Charlie Lee Has Sold All Of His LTC

Jon Russell – TechCrunch

Charlie Lee, the former director of engineering at Coinbase, is selling almost all of his holdings in Litecoin (LTC), the cryptocurrency that he founded in 2011. Lee explained in a post on Reddit that he is selling all of his LTC coins — bar a number of physical coins he keeps as collectibles — to avoid the conflict of interest that comes with his influence and position as LTC founder.

FAO: Is it good, is it bad? Draw your own conclusions. Price of LTC was pretty stable considering this announcement.

Exchanges & Trading Venues

Bitfinex Becomes Members-Only Platform

Arnab Shome – Finance Magnates

Bitfinex hits the headlines again. This time, the crypto trading platform has turned from an open trading platform into a private, members-only one without any official announcement.

Any new user looking to join the club now has to have an invitation code, however, the platform does not mention anything about how to obtain this code.

FAO: Bitfinex, as you probably know, since you are a reader of the best daily newsletter in this industry, was last week under a heavy DDoS attack – more here.

Coinbase May Have Given Away Its Own Bitcoin Cash Surprise

Taylor Hatmaker – TechCrunch

After some suspicious pre-launch climbing, Bitcoin Cash’s Coinbase launch immediately saw prices soar to almost three times those listed on other exchanges. That “significant volatility” led Coinbase to freeze transactions for its newest asset, creating plenty of confusion in the process. Just a few hours later, the company disclosed that the chaos had prompted an insider trading investigation, a surprising concession after some in the cryptocurrency world cried foul.

Bittrex Takes A Controlling Strategic Stake In Seed Opening New Trading Opportunities For Institutional Crypto Trading

Seed (press release)

Seed announced a strategic investment by Bittrex. Seed is currently onboarding institutional participants and will launch spot and derivative crypto trading in Q1 2018. Bittrex is one of the largest crypto trading venues in the world, with over $3 billion notional traded on a daily basis and over 2 million customers. Seed operates a swap execution facility, Seed SEF, registered with the CFTC.

Vendors

Ripple Launches Infrastructure Innovation Initiative

Finextra

Ripple celebrated a significant milestone — added the 100th client to RippleNet.

FAO: You might have seen the recent spike in the price of XRP.

BitPeople

Via American Banker – Ripple announced that it had added a former Morgan Stanley veteran, Zoe Cruz, to its board of directors.

Startups, Accelerators & Hubs

The Rise Of The Crypto Accelerators

Mike Butcher –  TechCrunch

As cryptocurrency fever grips the tech world, and blockchain technologies gradually become more viable, there is a new wave of accelerators and incubators appearing to service this growing ecosystem. Some are covering funding and services, some are about services only.

Analysis

Crypto Mania Rages As Pioneer Sells Out, Coinbase Stumbles

Jeremy Herron, Lily Katz – Bloomberg (subscription)

The wave of cryptocurrency news has turned into a tsunami this week.

DNT: A very useful roundup of the biggest events of the week. Check also our FREE ARCHIVE for more!

Advice From Crypto Fund Manager Up 25,000%

Kevin Harris – Forbes

Pantera’s Bitcoin Fund has returned in excess of 25,000% to its early investors.

Other news

Cryptocurrency Hedge Fund Hit With Class Action Lawsuit

Aaron Stanley  – CoinDesk

Monkey Capital, a company seeking to create a decentralized hedge fund, has been hit with a class action lawsuit alleging a fraudulent issuance of securities.The claim, filed in the U.S. District Court in Florida, represents five plaintiffs who invested cryptocurrency now valued at $3.8 million into the project ahead of a proposed token sale last July that was to help build the Monkey Capital Market – an envisaged decentralized hedge fund and private crypto exchange.

FAO: Do the monkey with me? Yeah, don’t think so…

Siemens Invests In Energy Blockchain Startup

Anthony Shevlin – MarketWatch

Siemens said that it has invested in energy-tech company LO3 Energy, strengthening its existing partnership. In a joint statement, the companies said they expect to partner on further projects around the globe, but did not reveal the specific terms of the investment. The existing partnership has been in place since late 2015.

Opinion

If The Bitcoin Bubble Bursts, This Is What Will Happen Next

Gian Volpicelli – Wired

“Bubbles usually get identified in retrospect,” says William Derringer, an MIT historian who has extensively researched financial bubbles. “If we knew with absolute certainty that Bitcoin’s was a bubble, it would have already popped.”

FAO: Word, dude!

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News