Image Of The Day, 14 Of August: CNBC, Independent, Fortune and others
1. ESTONIANS ARE CALM (CNBC)
Estonia is unconcerned about a possible Russian cyber attack
Cyber attacks, election meddling, and other online crimes are not a massive concern for Estonia, where public services are highly digitalized, President Kersti Kaljulaid told CNBC on Monday.
Because of the high digitalization and implementation of blockchain technologies in their social services, they consider themselves «out of the woods». We simply are developing our service offer to our people. It was simply cheaper, and a whole lot easier to do it digital and people found it convenient» said their president.
2. I CAN'T TAKE IT ANYMORE (Independent)
Bitcoin forums users share suicide hotline numbers after bitcoin crash
Support forums for suicide prevention are being shared on cryptocurrency forums amid concerns for the mental health of bitcoin investors after a major market downturn.
The latest crash takes bitcoin back to the same prices it was trading at in November 2017, however investors in other cryptocurrencies have been hardest hit. In the last 24 hours, ethereum and bitcoin cash plummeted by almost 20 percent, amid speculation of a mass sell-off.
3. PANIC (Fortune)
Crypto slaughterhouse continues
Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month’s selloff in cryptocurrencies showed few signs of letting up.
The largest digital currency fell as much as 6.2 percent to $5,887 as of 3:07 p.m. in Hong Kong, the lowest level since June, according to Bloomberg composite pricing. Ether sank as much as 13 percent, while all but three of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours. The total market capitalization of virtual currencies dropped to $192 billion from a peak of about $835 billion in January, erasing much of the gains seen during the speculative mania at the end of 2017.
4. SQUARE CASH APP (The Next Web)
Square now let's all US CashApp users buy and sell Bitcoin
Square is expanding its cryptocurrency services across the US. Its subsidiary CashApp announced that American users can now use the application to buy and sell Bitcoin in all 50 states.
Due to regulatory holdups and localized restrictions, CashApp was forbidden from offering its Bitcoin trading options in New York, Georgia, Hawaii, and Wyoming. But following certain changes in the law (and obtaining a «Bitlicense»), that is no longer an issue.
5. A NEW LOW (The Wall Street Journal)
At $191 billion, the total market value of cryptocurrencies world-wide is at its lowest
The cryptocurrency market just hit another new low in 2018. A broad selloff in digital currencies has pushed the value of the entire market below $200 billion for the first time this year, according to research site CoinMarketCap, erasing more than 70% of its worth seven months ago.
6. THE FORECAST HAS BEEN REVISED (Business Insider)
Cryptocurrency forecasters have revised their end of year prediction for Bitcoin down, again
The gap between what Bitcoin is worth right now and what it will be worth in five months time continues to narrow. Finder.com.au’s cryptocurrency experts have again slashed their December 31 target for BTC, cutting it from $21,228 last month to $19,605. In January, it was $44,558. In May, it was $30,925. At this rate, the team of nine fintech leaders will be close to bang on by the time December’s predictions are due.
There’s nothing historical in the year-to-date that suggests a spike is coming. The anticipation of such most likely stems from a pending call on the US Securities and Exchange Commission.
7. BITCOIN IS SLIPPING (Forbes)
Bitcoin Slips Under $6,000 As Rout Resumes
The bitcoin price previously dropped under the psychological $6,000 mark in late June but bounced back — and while many are hoping it will again, fear has gripped investors who hastily bought into bitcoin and other major cryptocurrencies late last year.
Bitcoin, still the world's most valuable currency, has lost 6% of its value over the last 24 hours, according to CoinMarketCap data, falling from highs of almost $20,000 in mid-December.
8. A SOLUTION (Market Watch)
A team at Northwestern think they have solved one of bitcoin’s biggest problems
A problem tied to how bitcoin and other cryptocurrency transactions are processed and completed has long dogged enthusiasts of the digital-asset community, but a group of scholars believe that they may have a solution.
A team of Northwestern University students and faculty members, in conjunction with bloXroute Labs, are attempting to improve the so-called scalability issue, without removing its decentralized nature, an integral component of bitcoin.
9. JUST YOU WAIT (CNBC)
Bitcoin's value will come in time, even if investors are spooked now, crypto advocate says
Bitcoin's narrative is hard to pin down, but as with early internet stocks, real traction will come in time, cryptocurrency investing advocate Meltem Demirors told CNBC on Monday. Despite bitcoin's aspiration to be a safe haven asset, the cryptocurrency has not seen a rally with the stumble of the Turkish lira.
«The narratives around bitcoin is still really hard to grasp», Demirors said. «Really the only metric we have for most cryptocurrencies is the price, and the price is such an imperfect metric. What does actual utilization look like? That's really the struggle for crypto right now.»
10. SPINDLE TO LONDON (News.Bitcoin)
Firm Behind Japanese Cryptocurrency ‘Spindle’ to Relocate to London Amid Investigation
The Japanese cryptocurrency Spindle, known for being promoted by the Japanese popular singer, actor and talent Gakuto Oshiro (45), aka GACKT, has announced it’s withdrawing from Tokyo to relocate its headquarters in London, amidst rumors that the Tokyo Metropolitan Police is investigating unregistered sales of cryptocurrencies made by the company.
GACKT told news.Bitcoin.com in an interview online that there is a considerable disparity in Japan compared to overseas in regard to crypto, explaining, «Black Star&Co». decided to move to London, where it originally started, because [in Japan] it takes a tremendous amount of time for various procedures to take place. [They decided] it would not be suitable for a cryptocurrency business, which essentially needs to be speedy, to remain in such an environment».