Blockchain Daily News – Edition 92, 10.11.2017
November 10, 2017
Blockchain Daily News – Edition 94, 14.11.2017
November 14, 2017

Blockchain Daily News – Edition 93, 13.11.2017

Blockchain Daily News

by Florin Oprea

Edition 93, 13.11.2017

Fans’ Section

Alan Greenspan Compares Bitcoin To Civil War Greenbacks And Continentals

Matthew Wisner – Fox Business

Former Federal Reserve Chairman Alan Greenspan is the latest high profile financer to give his take on the controversial currency. Greenspan said “Bitcoin is what used to be called fiat money.” He then compared Bitcoin to the currency issued by the Continental Congress after the American Revolution began.

FAO: Maybe Fox wanted some more “action” during their famous show “Mornings With Maria”…well, that’s all the action they got from the finance veteran…Here’s your homework: watch the video and comment Maria Bartiromo’s gestures…You are free to send us your observations. C’mon, this is fun! Contact us – here!

Deals, Investments & M&As

SEC Chief Fires Warning Shot Against Coin Offerings

Dave Michaels, Paul Vigna – The Wall Street Journal

SEC Chairman: ICO Trading Susceptible To Price Manipulation

Brady Dale – CoinDesk

The SEC is continuing to step up its rhetoric on ICOs. Speaking before the Practicing Law Institute’s Institute on Securities Regulation in New York, Chairman Jay Clayton described the market as opaque and vulnerable to manipulation. In his full remarks, he went on to characterize tokens issued for startup or open-source project fundraising as ripe for misconduct, mentioning them alongside penny stocks and hidden fees on investment products.

FAO: I think we will definitely see a set of rules in this space in the States. Remember that CFTC recently published a first series of guidelines on cryptocurrencies. CFTC aligned with SEC and might consider tokens issued through ICOs as commodities. More here.

Cryptocurrencies

Bitcoin Briefly Drops 15% In Rocky Weekend Amid Controversy Over Digital Currency’s Future

Evelyn Cheng – CNBC

Bitcoin Cash Skyrockets, Bitcoin Price Drops As Civil War Continues

Laura Shin – Forbes

A planned hard fork on the Bitcoin blockchain that threatened to create two new coins, causing disruptions on exchanges and potential losses for users on both sides – but also possibly one of the most exciting chapters in Bitcoin’s history – was called off.

A previous fork of Bitcoin called Bitcoin Cash that was launched in August and immediately dismissed by many Bitcoiners and the wider crypto world alike, has skyrocketed in value.

FAO: It was a deranged weekend, I am sure you all know it by now. The high volatility in BTC/BCH prices are reflecting disagreement among bitcoin developers. Fortunately we will have bitcoin futures soon (read here more coverage and comment regarding the “bitcoin futures” plans of some major US exchanges) and part of this volatility will cool down.

Bitcoin Cash Briefly Replaced Rival Digital Coin Ether As The Second-Largest Cryptocurrency

Ryan Browne – CNBC

As Bitcoin Rejects 2MB Blocks, Dash Prepares To Implement Them

David Dinkins – The Cointelegraph

Dash Releases Software Upgrade For Cheaper Transactions; Now Listed On Huobi.Pro

Diana Ngo – Coin Journal

Dash has released a new software upgrade that cuts transaction cost to near zero, while doubling network capacity. The release of 12.2 of the Dash Core software comes with new features, improvements and bugfixes, the organization announced.

FAO: And while BTC was fighting BCH, DASH rocketed! Ultra high volatility in the “cryptoverse” these last days.

Exchanges & Trading Venues

Quoine & Cex.Io Announce Strategic Liquidity Partnership

Business Insider

Quoine has entered into a strategic liquidity partnership with Cex.Io, to grow liquidity across fiat and cryptocurrency markets.

FAO: Last week QUOINE raised $105m in its ICO to create the “World Book”, a global order book, to provide global liquidity in cryptocurrencies.

Coinbase Likely To Lose Fight To Block IRS Customer Probe

Joel Rosenblatt – Bloomberg

Coinbase customers who haven’t reported their cryptocurrency gains to the Internal Revenue Service, beware. A federal judge is poised to allow a limited investigation into those gains to proceed over the company’s objection that the agency is on “a massive fishing expedition” meant to make itself look tough in the eyes of its critics in Congress.

FAO: Oh my! The IRS will have quite some checking work to do as Coinbase recently hit 12m users. The company added 100k accounts in just 24 hours after CME bitcoin futures contract announcement.

Head Of Bankrupt Bitcoin Exchange Could Make Hundreds Of Millions From Failure

David Z. Morris – Fortune

Mark Karpeles, the former head of what was for a time the world’s largest Bitcoin exchange, could wind up profiting handsomely from the portal’s ignominious 2014 collapse. Those who had owned Bitcoin on the site, on the other hand, stand to lose hundreds of millions of dollars generated by the cryptocurrency’s rising value.

FAO: LOL! And thanks to Japanese law’s treatment Karpeles could make about $1 billion from the bankruptcy.

CSDs Develop Model For DLT-Based Proxy Voting Aligned With ISO 20022

Finextra

A consortium of central securities depositories has built a model for an international e-proxy voting product based on distributed ledger technology and embedded with the relevant ISO 20022 standard.

Vendors

40 Companies From China And EU Have Applied To Mine Bitcoin In Russia

Kevin Helms  – Bitcoin.com

Companies from China and the European Union have applied to start mining operations in Russia. The country already has “hundreds” of cryptocurrency mining factories but still has free energy capacity for foreign companies to set up mining farms.

DNT:  No boundaries for BTC! Go East..but beware. The state is a hard competitor.

Blockchain ID Schemes Could Kill The Data Breach, But How Soon?

Jonathan Keane – CoinDesk

Awareness of the serious drawbacks of centralized identity services is growing. Spurred by the Equifax breach earlier this year, the problem isn’t relegated to the U.S. credit scoring company alone. In mid-October, a database leaked the personal information of more than 30 million South Africans (more than half the population). Further, searching “data breach” in Google news turns up a significant recent data breaches globally.

DNT: Data breach is a real problem. After Equifax breach, which affected 143 million people, the CIO and the CSO of the company stepped down – reported here. So, yes, Blockchain seems to be a solution for this kind of situations.

BitPeople

Via Cointelegraph – Bitcoin on CME: Interview With Bitstamp CEO Nejc Kodrič.

DNT: A very short interview but worth your time. Pretty useful information in order to upgrade your knowledge about the impact of Bitcoin futures on the cryptocurrency market.

FAO: For those who don’t know, Bitstamp is a leading crypto exchange in Europe. In April 2016, the government in Luxembourg granted Bitstamp a license to be fully regulated as a payment institution in the EU.

The Trader Who Allegedly Used Bitcoin To conceal Fraudulent Profits Now Faces Criminal Charges

Sam Jacobs – Business Insider

A trader who allegedly hacked into brokerage accounts and profited from artificial share trades has been indicted by the US Department of Justice. The indictment filed in the New York District Court alleges Joseph Willner attempted to cover his tracks by first converting his ill-gotten gains into Bitcoin before transferring them to a second individual involved in the scheme.

DNT: This follows charges laid by SEC, reported in our bulletin earlier this month.

Latest Developments & Agreements

Stratumn, Deloitte Trial Blockchain Platform With 14 European Insurers

Sujha Sundararajan – CoinDesk

Blockchain startup Stratumn has announced the completion of a blockchain proof-of-concept trial involving 14 insurance companies. The trial was piloted by the French Federation of Insurers and received support from “Big Four” accounting firm Deloitte.

Startups, Accelerators & Hubs

Bitcoin’s Rise to $7,000 Shows Singapore Needs To Get Serious About Cryptocurrencies

Joe Seunghyun – Singapore Business Review

After breaching $6,500 for the first time a day earlier, Bitcoin prices surged as high as $7,350 in trading Thursday likely thanks to traders in Asia noticing the CME Group’s announcement.

CME Group said earlier this week that it plans to launch bitcoin futures in the fourth quarter, pending regulatory review.

Analysis

Overstock Shares May Soar 60% If Company Sells Retail Biz To Focus Just On Bitcoin, Analyst Says

Evelyn Cheng – CNBC

Shares of Overstock could soar more than 60%, according to Tom Forte, the primary Wall Street analyst covering the e-commerce company. D.A. Davidson analyst is the only analyst listed on FactSet covering the stock, which has topped $1 billion in market value only in the last few weeks.

Other news

Hewlett Packard Enterprise Introduces Blockchain as-a-Service Solution for Enterprises

Nasdaq

HP announced the first product in the HPE Mission Critical Blockchain family.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News