The image of the day 2018/07/24

We're presenting "the image of the day". 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. Google “onslaught” on blockchain (thenextweb)

Google is slowly gearing up to penetrate the blockchain space.

Distributed ledger technology provider Digital Asset announced it has struck a collaboration with the Big G that seeks to bring its “blockchain platform and developer tools” to the Google Cloud Platform.

The Mountain View giant is still somewhat of a challenger brand in the corporate cloud services game, trailing behind market leaders Amazon and Microsoft. With this in mind, it is no surprise the Alphabet subsidiary is seeking to innovate in the DLT industry, hedging on the recent uptake in blockchain tech.

2. A way to clear your head (Independent)

The 64-year-old Dr David Crichton orders a mob-hit on a unlucky financial adviser.

The 64-year-old Dr David Crichton, who is on trial at Winchester Crown Court, allegedly solicited the murder of Andrew Bolden, a pension and wealth investment adviser of private bank Brown Shipley. He is accused of three charges of sending a malicious communication after allegedly sending Mr Bolden two text messages and telephoning him once indicating he may kill himself and finally ordering a hit on him on the “Chechen mob” website and paying $5000 in bitcoin.

In his defence, Crichton, who is now a church warden and keen triathlon athlete denies all charges and says that he did this to “clear up his head” and states that he was sure that the website was fake.

3.Shake it! (bitcoin.com)

South Korea’s top financial regulator is planning a major organizational restructuring.

Last week South Korea’s top financial regulator, the Financial Services Commission (FSC), said that it will undergo a “major organizational restructuring.” As part of the plans, it “will establish a department exclusively for policymaking initiatives in the nation’s blockchain industry.”

As a result new organization, called Financial Innovation Bureau, will be established to assist FSC’s “restructuring plan to lead financial innovation in the coming Fourth Industrial Revolution era.”

4. The chains that bind (Business insider)

Business Insider has published a report on the blockchain in banking.

• Here are few key takeaways from the report.
• Most banks are exploring the use of blockchain technology in order to streamline processes and cut costs.
• Banks are starting to narrow their focus, and are increasingly honing in on tangible use cases for blockchain technology that solve real problems.
• Regulators are taking an increased interest in blockchain technology while working alongside major banks.
• Blockchain-based solutions will start to emerge in different areas of financial services.

5. Bitcoin's wave (Independent)

Bitcoin continues its recovery.

The price of bitcoin reached above $7,700 on Monday, according to CoinMarketCap, up by almost $2,000 since the end of June. Its current value is still a long way off its 2017 peak, when it reached close to $20,000 amid a flurry of interest in the virtual currency. The latest gains also fall short of some analysts' predictions, who forecast that bitcoin would rise above $10,000 in May and continue to climb.

6. Guilty! (Reuters)

Jon Montroll, 37, pleaded guilty to securities fraud and obstruction of justice.

The operator of a shuttered bitcoin-denominated exchange pleaded guilty on Monday to federal charges that he defrauded investors and lied to U.S. securities regulators investigating the theft by hackers of virtual currency now worth about $46 million.

According to prosecutors, Montroll, of Saginaw, Texas, operated WeExchange Australia Pty Ltd, which functioned as a bitcoin depository and exchange service, and BitFunder.com, which allowed users to sell virtual shares of business entities in exchange for bitcoins.

Prosecutors said that between the launch of Bitfunder in 2012 and at least July 2013, Montroll defrauded investors by taking WeExchange users’ bitcoins for himself, selling them for dollars and spending them on personal expenses.

7. The sun that ate bittorrent (thenextweb)

Justin Sun bought Bittorrent.

Recent acquisition of BitTorrent by Justin Sun has been finalized, effectively brought 100 million new users to TRON’s (TRX) decentralized ecosystem.A robust and proven file-sharing platform like BitTorrent certainly does align with the TRX vision of a new decentralized internet, but there is no real indication how he plans to use it.

8. Hold it! (Marketwatch)

Despite the popular belief - “day trading” is not the best for bitcoin traders.

According to data from CoinMarketCap “buy and hold” strategy might be more advantageous for those wanting to capitalize on price action in the worlds biggest digital currency.

In the last 12 months, the price of a single bitcoin BTCUSD, +6.73% is up 182%, trading from $2,732 to $7,711, as of Monday. Despite the meteoric rise, just 13 of the 365 trading days had 24-hour gains of more than 10%, which is only two more than 10% declines. Moreover, in this 12-month span, bitcoin rose just 57% of the time (207 of the 365 days).

9.Power to the people! (Technode)

Chineses people fight corruption with blockchain.

A scandal surrounding Shenzhen-listed drug maker Changchun Changsheng Biotechnology broke at the end of last week. Company was found to have violated standards in making rabies vaccine for humans.

Among the articles on this topic on local social media was an article “King of Vaccines” written by a blogger under the pen name of “Beast”(兽爷 shouye),” that went viral and because of this chinese netizens keep in online via ethereum blockchain, despite efforts to take it down.

10. Bitcoin walks the line (Bloomberg)

To all those people that were anxiously waiting - it finally did it, open up the champagne!

Bitcoin Climbs Past $8,000 as ETF Speculation Fuels Renaissance.

The largest virtual currency has rallied about 40 percent since the start of July, in part on speculation that the Securities and Exchange Commission may make a decision as soon as August. “We’ve been in depressed levels for the last six months, so it’s really one way from here, which is up,” said Timothy Tam, chief executive officer with CoinFi, a cryptocurrency data analysis company on this matter. “The timing is always difficult to predict but I think we’re at the start of a secular bull market.”