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Image Of The Weekend, 27-28 of October: Blokt, Financial Magnates, Mashable and Others

Daniil Danchenko

We're presenting "image of the weekend". 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 weekend in the most indicative quotes are below!


The City of Plattsburgh Common Council is considering crypto mining regulations

Access to cheap electricity and a relatively cooler climate makes a city or county a more preferred location for cryptocurrency miners. The power-heavy industry needs electricity not only to power its miners but also to keep facilities cool. However, the City of Plattsburgh in New York doesn’t intend to let crypto activities continue unchecked. The city is currently pushing for extra regulation in the sector.

During December 2017 and January 2018, usage spikes hit the city causing MLD customers to pay as much as $300 extra per month. Following this, the city along with some other concerned municipalities was able to petition to the Public Service Commission to establish a new tariff structure that makes crypto mining operations pay for the entire overages of power from the city’s quota. This would help residents stay safe from rising electric bills.


Binance is initiating a major effort to roll out crypto transactions around the world airports.

Crypto exchange Binance is initiating a major effort to roll out crypto transactions around the world at airports. Through its $2.5 million investment in TravelbyBit, a blockchain-based, crypto payment platform for everyday tourists who shop and spend at airports, the world’s largest cryptocurrency exchange by volume is growing the startup’s network.

TravelbyBit just powered its first transaction using Binance Coin (BNB) at a bar in Australia. The partners say they’re on track to transform Brisbane Airport into “the world’s first cryptocurrency-ready airport.”

3. HAVE A BETTER LUCK NEXT TIME! (Financial Magnates)

Another attempt to get a Bitcoin ETF

Another attempt to get a Bitcoin-based exchange-traded fund may be on the cards, this time courtesy of cryptocurrency exchange Coinbase and investment company BlackRock. Multiple institutions have attempted to gain approval from the US Securities and Exchange Commission for ETFs based on Bitcoin futures; all have failed so far.

Media reports claim that the aforementioned entities are working on their own candidate, which could be the most likely to receive approval.


Europe is rapidly catching up in the crypto

Governments in Europe have increasingly introduced “do-no-harm” regulation, such as in Gibraltar and Malta, which has attracted investors and entrepreneurs alike, while many states have granted tax exemptions on the capital gains from selling cryptocurrencies, such as in Germany or Switzerland.

The continent also has near total internet coverage and bank account ownership, meaning that its population also has the necessary conditions to support fintech innovation and encourage co-operation, with crypto meet-up groups popular across Europe, such as P2P Ghent in Belgium, Bitcoin Bucharest in Romania and Coinscrum in the United Kingdom.


Real life meme, one and only Carlos Matos aka “BITCONNNNNEEEEEEECT!!!!” guy stands for Bitcoin

The walking meme made famous by his unbridled enthusiasm for Bitconnect, a cryptocurrency project strongly resembling a Ponzi scheme that shut down its lending and exchange platform in January, is not on Twitter offering words of caution about bitcoin.  "Bitcoin Is A Scam," reads a tweet from an apparent parody account bearing his name. "Sell Everything It's NEVER Going Back Up."

Matos, of course, is best known for promoting a likely scam himself. He launched into meme infamy in October of 2017 after a video of him singing Bitconnect's praises went viral. Importantly, this was all before the price of a BCC token shot up to around $437, and then crashed back down to its current price of $67. Needless to say, none of this worked out so well for him. Even John Oliver took a swing at Matos on Last Week recently.

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