Image of the Week 23-27 of July: Buisnessinsider, The Verge, The Times and others
We're presenting "the image of the week", Bitnewstoday.com chose only the freshest and most important news about the digital economy and virtual currencies. Only the most valuable stories from only the proof sources. Each and every event from this list will change the world of the digital economy either way. The most important of today's stories in most indicative quotes below!
1. BITTER REJECTION (CNBC)
SEC rejects Winklevoss ETF proposal again.
The Securities and Exchange Commission rejected a second attempt by Cameron and Tyler Winklevoss, founders of crypto exchange Gemini, to list shares of what would be the first-ever bitcoin ETF. As a result - price of the bitcoin instantly dipped on 3 percent.
Winklevoss brothers are okay with this, despite that fact that it’s a second time when their proposal was rejected. "Despite today's ruling, we look forward to continuing to work with the SEC and remain deeply committed to bringing a regulated bitcoin ETF to market and building the future of money," Cameron Winklevoss, co-founder and President of Gemini said regarding the matter.
2. CONGRESS’S FOCUS (Bloomberg)
Cryptocurrency Rules Should Be Congress’s Focus, Key Lawmaker Says.
A key member of the House Financial Services Committee, representative Bill Huizenga, wants to see lawmakers focus next year on oversight of the “muddied and fairly opaque” markets for initial coin offerings and trading digital tokens.
A key challenge for lawmakers is figuring out how to classify digital currencies, Huizenga said in an interview in his Capitol Hill office on Thursday.
3. POLITICAL BONANZA (Buisnessinsider)
CoinDesk surveyed 1,200 crypto investors and found their political ideology.
The survey of 1,200 cryptocurrency investors found that the plurality of respondents identify as liberal, with 27% of those surveyed identifying with the political designation. Meanwhile, 24% identified as libertarian. Socialists made up a paltry 9%, the survey found.
The survey, which was part of the firm's broader "State of Blockchain Report," also found that different crypto communities have very different politics. Bitcoin, for instance, leans more right than ether-rival EOS. 55% of bitcoin holders identify as right-leaning, CoinDesk found, whereas only 43% of EOS holders are right-leaning.
4. A RIGGED GAME (Quartz)
Indian crypto might’ve found a surprising new ally.
India’s embattled cryptocurrency ecosystem may have just got a lifeline from another contentious debate: whether or not to legalise sports betting in the country.
The law commission of India, which has been studying the feasibility of sports gambling, has clubbed virtual currency with other legally accepted modes of payments. These methods used for settling online transactions can also be used for betting on sports if and when made legal.
5. WALL STREET LOGIC (The Street)
Famous VC investor claims that bitcoin will cost $250,000 in 2022.
In an exclusive interview with TheStreet, Tim Draper weighed in on where he thinks Bitcoin's price will be in the future, cryptocurrency regulation and price volatility.
“I hold a lot of cryptocurrencies and mainly Bitcoin. I am buying more. I feel that crypto and Bitcoin are the future. Fiat is the past. I do still have to hold some fiat currency for everyday transactions today, but I suspect that that will change over the next few years. I cannot wait to be able to go to a store and make purchases using cryptocurrencies. Fiat currency will eventually become as passé as trying to pay for coffee with pennies.” said Draper.
6. 5 IN 40-UNDER-40 (The Next Web)
Cryptocurrency bigwigs invade the Fortune ’40 Under 40′ list.
Fortune has released its annual 40 Under 40 ranking which celebrates the most influential entrepreneurs under the age of 40. This edition features several founders and executives from the cryptocurrency and blockchain space.
Among them: Founder of Ethereum, Vitalik Buterin, founder of Coinbase, Brian Armstrong, Telegram CEO Pavel Durov and Robinhood founders Vlad Tenev and Baiju Bhatt.
7. GOOGLE BANS MINING (The Verge)
Google bans cryptocurrency mining apps from the Play Store.
Google has updated its Play Store developer policies to ban several more categories of apps, including cryptocurrency mining ones and apps with disruptive ads, as reported by Android Police.
When it comes to cryptocurrency apps, Google says mining apps are now prohibited, but apps that “remotely manage the mining of cryptocurrency” are still permitted. Apple recently banned apps that mine cryptocurrency, stating that, “the only cryptocurrency mining apps allowed are those that mine outside of the device, like cloud-based mining.”
8. HIRE A HITMAN (The Times)
Darkweb legend ended up being a scam.
The website, which goes under various names including Chechen Mob, has been linked to the arrest of a deacon in Minnesota, a businessman in Singapore and a retired family doctor from Bournemouth.
British “vigilante hacker” hacked that a site on the dark web and claims that it is a scam that has earned the Romanian behind it almost £5 million in cryptocurrency.
9. MOST STABLE (The Epoch Times)
According to The Epoch Times, bitcoin is a least volatile crypto.
Earlier this year, Epoch compared the volatility of bitcoin to that of traditional currencies. We found that the average daily percentage change and the standard deviation of bitcoin’s exchange rate with the U.S. dollar were several times higher than the dollar exchange rate against the euro, yen, pound, and gold.
Now Epoch claims that bitcoin is consistently less volatile than four other widely traded cryptocurrencies: litecoin, ripple, ethereum, and Bitcoin Cash. Looking at simple measures of volatility across digital assets also reveals some common patterns over time and interesting potential trends.
10. BORN ON THE CHAIN (Forbes)
World First As Baby Born On The Blockchain In Tanzania.
An Irish medical aid project recorded on the blockchain has seen a world first this week – a baby.Initially, a project funded to tackle controversies in the charitable sector regarding fair distribution of donations and a joint effort between Irish AID:Tech and Dutch PharmAccess, the collaboration are celebrating the success of a women’s aid project in Tanzania, resulting in the birth of 3-babies so far.
The project gives each pregnant woman a digital ID that entitles them to pregnancy vitamins such as folic acid and tracks the women’s progress via data added to the blockchain.