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Image of The Day, 2 of November: Finance Magnates, The Next Web, The New York Times and Others

Daniil Danchenko

We're presenting "the image of the day". Bitnewstoday.com has chosen the most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important stories of this day in the most indicative quotes are below!

1. BRAVE NEW WORLD (The New York Times)

Cryptocurrency millionaire wants to build an Utopia

An enormous plot of land in the Nevada desert — bigger than nearby Reno — has been the subject of local intrigue since a company with no history, Blockchains L.L.C., bought it for $170 million in cash this year. The man who owns the company, a lawyer and cryptocurrency millionaire named Jeffrey Berns.

And this is not a scam or another get rich fast scheme. Jeffrey Berns uses his own gains to build a blockchain based community close to the nearby Reno.  He believes Ethereum will give people a way to control their identity and online data without any governments or companies involved. Mr. Berns’s ambitions fit right into the idiosyncratic world of cryptocurrencies and blockchains.

2. GOING LOW-TECH (The Next Web)

Exchange turned a bus into a Bitcoin ad to bypass Google’s crypto-ban

Pressed in a corner by draconian ad bans, one Netherlands-based cryptocurrency exchange found an alternative to Google’s and Facebook’s restrictive new rules in traditional out-of-house advertising. Instead of placing ads on the internet, SATOS turned a whole bus into an ad for its cryptocurrency exchange service.

“The idea of out-of-house marketing first came to us when most advertising platforms turned their back on cryptocurrencies,” SATOS marketing manager Stijn Jager told Hard Fork. “Google and Facebook didn’t allow us to advertise anymore. Which used to be our way (extremely targeted) of communicating with our target audience.”


Weiss reviews 3,000 cryptocurrencies

Weiss Ratings, a company that rates financial institutions, banks and stocks, has recently released an updated list of cryptocurrency ratings. After reviewing 3,000 cryptocurrencies, they rated over 111 and determined that only four were considered a “buy” (B- or higher). Those four are XRP, Stellar, EOS and Cardano.

XRP and Stellar received their ratings based on high transaction speeds that businesses might find attractive, while EOS and Cardano got “buy” signals based on their community and app building capabilities. They noted that all four have improved adoption metrics despite the bear market. Bitcoin received a grade of “C+” or “fair.” This is the same grade it received in January.

4. PRAISE THE SUN! (Blokt)

Justin Sun, the founder of Tron, donates $10,000 to support net neutrality

The Tron foundation announced that Justin Sun, the founder and chief executive of Tron, a foundation building a decentralized internet had donated $10,000 to a major net neutrality fund.

Sun expressed his support net neutrality and urged the Tron and BitTorrent communities to donate in support of net neutrality. He further stated that free and open internet “fosters innovation that benefits not just a few, but all of us.” He believes that it is “everyone’s responsibility” to protect and push for net neutrality.

5. BIG PROBLEMS (The New York Times)

Bitcoin first fellon is being sued by the Winklevoss twins

Mr. Shrem, who had been the chief executive of Bitinstant, one of the first prominent Bitcoin businesses in the United States, has said in recent interviews that he went to prison with almost no money. Now he is being sued by the  Cameron and Tyler Winklevoss, as their presumably broke partner is actively spending big sums of money.

“Either Shrem has been incredibly lucky and successful since leaving prison, or — more likely — he ‘acquired’ his six properties, two Maseratis, two powerboats and other holdings with the appreciated value of the 5,000 Bitcoin he stole from the Winklevoss twins in 2012,” the lawsuit says.

6. EDUCATING THE MASSES (Finance Magnates)

The Canadian regulator has written a guide to cryptocurrency and created a fake ICO website

A canadian regulator, the Ontario Securities Commission (OSC), announced that it had launched a cryptocurrency education initiative. The regulator says that the move to provide more information to the public regarding cryptocurrencies stems from their growing popularity among Canadian retail investors.

“These initiative helps investors better understand cryptoasset products and services,” said Tyler Fleming, Director of the Investor Office at the OSC, “as well as be on the alert for any potential red flags before making a purchase.”

7. HIGH ON THE DLT  (OpenGovAsia.com)

Making Thailand a global blockchain hub

According to a recent report, though countries in the Asia Pacific are racing to build their own cryptocurrency hubs they are arguably playing catch-up. However, despite this, Thailand has one of the most prosperous cryptocurrency ecosystems in the region.

While Thailand’s success in the cryptocurrency industry ought to be celebrated, the country can take advantage of its momentum to achieve something even more valuable: working towards becoming a global hub for blockchain development, innovation, and entrepreneurship.


Bitcoin set for back-to-back losing weeks

Bitcoin prices are trading mostly unchanged Friday, but on track to log back-to-back weekly losses, and the fifth over the past six weeks. In early Friday trading, the price of one bitcoin was last changing hands at $6,359.11, up 0.1% since 5 p.m. Eastern Time.

Despite the grind lower, data suggests retail investors haven't thrown in the towel and remain positive. “Retail trader data shows 82.6% of traders are net-long with the ratio of traders long to short at 4.76 to 1. The number of traders net-long is 0.7% higher than yesterday and 2.9% lower from last week, while the number of traders net-short is 2.7% lower than yesterday and 0.5% lower from last week,” wrote Jack Schwarze, research analyst at DailyFX.

9. BITBRIBES (The Next Web)

Bulgarian officials took Bitcoin bribes to issue passports to Ukrainians

Two Bulgarian government reps have been arrested on allegations of accepting bribes in Bitcoin in return for illegitimately issuing Bulgarian identity documents to foreign individuals.

Court files claim the accused, both of whom held management positions in the National Agency for Bulgarian Citizens Abroad, have been illegally receiving payments to issue documents, according to local outlet. The prosecution further adds the criminals purportedly received between five and 15 bribes each week since at least July 2017.

10. THE TIME IS RIGHT (The Daily Hodl)

Gabor Gurbacs claims that Bitcoin ETF time is now

In a new interview with Fox Business VanEck’s digital asset strategies director Gabor Gurbacs says the firm’s Bitcoin ETF proposal meets every requirement the SEC needs for approval.

“We are waiting for the sign of approval for this ETF because it meets every requirement that a commodity type of fund would need. We have proper custody solutions out there. We have proper pricing. We have the right institutions and we have the right market structure, so it’s time to give America what it wants: A Bitcoin ETF”.

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