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February 7 · Issue #165 · View online
Kyle Torpey has been a full-time Bitcoin writer and researcher since early 2014. Currently, he contributes regularly to Forbes and CoinJournal. His work has also appeared in Business Insider, VICE Motherboard, Nasdaq, and many other media outlets. Additionally, Kyle goes over the day's top Bitcoin stories in a daily YouTube show and podcast, which can be found at http://kyletorpey.com.
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Note: This week will be ad-free as I search for new sponsors. Feel free to shoot an email to email@kyletorpey.com if you know anyone interested.
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Peter Thiel: "Crypto Is Libertarian, AI Is Communist" | Zero Hedge
“A sufficiently powerful AI could realize the bureaucrat’s dream of accurately predicting peasant farmers’ potato yields months in advance from thousands of miles away. No wonder the Chinese Communist Party hates crypto and loves AI.”
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How one Korean trader used LinkedIn to skirt the law on arbitraging cryptocurrency prices — Quartz
South Korean officials say they won’t ban cryptocurrency trading, but they have been cracking down hard on the country’s freewheeling market. Among the biggest victims are shadowy groups that profited handsomely from the unique opportunity to arbitrage cryptocurrency in Korea. Regulators recently said that they identified $600 million worth of “illegal foreign exchange trading using…
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Forbes Releases First-Ever Crypto Rich List, A Compilation Of The 20 Wealthiest People In Crypto
Forbes Releases First-Ever Crypto Rich List, A Compilation of the 20 Wealthiest People in Crypto
Featured on the cover is Billionaire Changpeng “CZ” Zhao, CEO of Binance, the Cyptocurrency Exchange.
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Novogratz Raises $250 Million for Crypto Merchant Bank - Bloomberg
Mike Novogratz, the former Wall Street macro trader, raised about $250 million for his cryptocurrency merchant bank during one of the biggest routs yet in Bitcoin, according to a person familiar with the deal.
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Grayscale Launches Fund for Top Crypto Assets (ETH Included) - CoinDesk
The creator of the Bitcoin Investment Trust is today launching its fourth fund aimed at giving accredited investors a way to explore cryptocurrencies.
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Virginia Senator Mark Warner is bullish on bitcoin : Bitcoin
reddit: the front page of the internet
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100,000 bitcoin and other crypyocurrency investors are now on the Indian taxman's radar — Quartz
The Indian income tax (I-T) department is now aggressively pursuing investors who profited from cryptocurrencies but skipped paying taxes. Up to 100,000 such investors have been issued notices, said Sushil Chandra, chairman of the Central Board of Direct Taxes (CBDT). “We found out that there is no clarity on investments made by many people, which…
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Losing Interest in Bitcoin - Bloomberg
As the digital currency’s price tumbled, so did Google searches Kyle’s note: This is an indication that much of the recent interest in bitcoin was just about getting rich quick.
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Gold Proves Its Mettle as Bitcoin Sheds Haven Status - Bloomberg
So much for the digital currency providing negative beta.
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A relationship between bitcoin and gold exists, RBC analyst finds
The potential correlation between bitcoin and stocks may be extending to another area of the markets.
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Crypto Industry Reacts to US Senate Hearing Remarks - CoinDesk
These were just some of the comments that came from industry observers in the wake of a hearing held Tuesday by the U.S. Senate Committee on Banking, Housing and Urban Affairs, one that addressed the question of how lawmakers should consider cryptocurrency regulation.
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Ethereum Users Are Losing Money and Devs Don't Quite Know What to Do - CoinDesk
As the price of its cryptocurrency ether has soared (and then corrected) in 2018, one thing has remained constant – users continue to lose money due to hacks, faulty code and human error. It’s an issue that in the past has split the platform into rivaling forces and left lingering debates – and, as recent activity on GitHub shows, tensions are escalating again.
Pumping new life into the debate is the resurgence of a chat channel formed in the wake of the loss of 513,000 ether by startup Parity last year. In particular, the forum has reignited with the release of a sketch for how fund recovery proposals could be standardized to make them easier to implement.
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Video: Winklevoss Brothers on Bitcoin Price, Cryptocurrency Regulation – Bloomberg
Gemini CEO Tyler Winklevoss and Gemini President Cameron Winklevoss discuss the price of Bitcoin, the risk of hacking attacks and cryptocurrency regulation. They speak to Bloomberg’s Tracy Alloway in Abu Dhabi. (Source: Bloomberg)
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The Downside of Tracking Bitcoin on the Blockchain - CoinDesk
The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers.
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CoinDesk Releases 2018 Bitcoin and Blockchain Industry Report - CoinDesk
If bitcoin is in a bubble, it is one of the few in the history of finance – if not the first – that expanded with negligible use of credit.
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Someone hacked China’s central bank mailbox to email a bogus notice about bitcoin crackdown | South China Morning Post
A mailbox at the Hefei branch of the People’s Bank of China, the Chinese central bank, was hacked, and a bogus email was sent from the address, according to an official.
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Bitcoin surges by more than $2,000 in just over a day
Bitcoin rose Wednesday morning along with sharp gains in other major cryptocurrencies.
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Reddit Co-Founder Alexis Ohanian Steps Aside, Focuses on Initialized Capital - CIO Journal. - WSJ
Reddit Co-Founder Alexis Ohanian announced on Wednesday he will step down from daily duties at the internet company and focus his attention on Initialized Capital, the early stage venture capital firm that he co-founded and is known for investments such as Coinbase and Instacart. He will continue to sit on Reddit’s board.
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MORGAN STANLEY: Here are 3 of the biggest arguments against bitcoin - Business Insider
BI PRIME: Bitcoin has had a terrible start to the year, but its declining price is not the only thing bitcoin bears are pointing out about the cryptocurrency.
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Big Investors May Be Dragging Bitcoin Toward Market Correlation - Bloomberg
It may just be a coincidence that Bitcoin’s plunge preceded the latest equities selloff, but Morgan Stanley clients are watching the digital currency as a potential leading indicator for risk in the broader stock market.
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Kodak Shares Are Headed to Zero, Short Selling Hedge Fund Says - Bloomberg
Blockchain has the potential to solve a lot of problems, but copyright infringement in the photography industry – the issue Eastman Kodak Co. has said it’s tackling – isn’t one of them, according to one short seller.
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Blockchain Project Raises $61 Million from A16Z, Polychain Capital - CoinDesk
A blockchain project based in Switzerland has raised $61 million from a group of investors that includes venture capital giant Andreessen Horowitz and token hedge fund Polychain Capital.
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Bitcoin’s Bear Market Leaves Its Mark on Coin Offerings - WSJ
Bitcoin’s roughly 70% selloff from the December peak to recent lows has weighed heavily on “altcoins” and especially the newer tokens created via initial coin offerings.
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NFL player Devon Kennard is listening to Warren Buffett about bitcoin
Usually when New York Giants linebacker Devon Kennard invests, he’s conservative, but his teammates kept talking about cryptocurrency.
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Sent Out to Engineering Students at My Uni Today : CryptoCurrency
reddit: the front page of the internet
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The Bitcoin Boom Could Be Great for Sex Businesses - Bloomberg
Sex-toy entrepreneur Polly Rodriguez is sick of bankers giving her funny looks. Kyle’s note: The ICOs mentioned in this story don’t make sense. You can just use bitcoin for these sorts of payments.
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Silk Road's Founder Is in Jail for Life, but the Dark Web Only Grows - Reason.com
Making popular things illegal rarely diminishes their use.
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As cryptominers eye Quebec, forest companies see opportunity | Reuters
At least two Canadian forestry companies are reviewing offers by cryptocurrency miners who want to lease excess mill space in Quebec, a province where electricity prices are among the lowest in North America.
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Coinfinity shows first lightning transaction on a Bitcoin ATM - Coinfinity
We have always been trying to be pioneers in the cryptocurrency space. We started the first Bitcoin ATM in Austria and launched the first Austrian web platform for bitcoin trading. Also, we developed Bitcoinbon, which is currently available at over 4.000 merchants across the country.
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Coinbase Should Stop Selling Bitcoin Cash (BCH). Seriously!
tl;dr: Bitcoin Cash (BCH) is marketing itself as Bitcoin (BTC), scamming consumers into thinking they are buying Bitcoin at a lower price. Its backers use at least three sites to perpetuate this…
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Cryptocurrency advertising goes big in Japan, but the pushback has begun | The Japan Times
If a massive billboard by Shibuya crossing is a barometer of trends in Japan, then the latest ad for the cryptocurrency exchange DMM Bitcoin, featuring a J
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How a local cryptocurrency company wants to put Virginia Beach on the map | WTKR.com
“This little Southeastern non-tech area of the country, which is a stereotype. But around the world, they don’t see it that way. They see this as the heart of something big in the cryptocurrency world,” said Thomas Flake, one of the company’s founders.
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Bitcoin: why is it so male-dominated?
‘Over recent months, it is mainly men who have bought in to cryptocurrencies’
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Coinbase Product Update — February 5, 2018 – The Coinbase Blog
Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. We believe actions speak louder than words, so going forward we will be publishing weekly product…
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Twitter bans notorious Bitfinex and Tether critic Bitfinex'ed
Independent sleuth Bitfinex'ed, better known for his extensive criticism of Bitfinex and its Tether cryptocurrency, has been booted off Twitter.
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Introducing Coinbase Open Source Fund – The Coinbase Engineering Blog
Like many startups, Coinbase got started as a humble Rails project. Ever since the first commit, Coinbase has relied tremendously of open source software to build its systems and products. As we…
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Dozens charged for Infraud cyber-crime site - BBC News
Thirty-six people are charged for their alleged involvement in running a giant cyber-crime site.
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Ethereum Scammers Make $5,000 in a Night by Impersonating Celebs on Twitter
Online scammers have made over $5,000 worth of Ethereum in one night alone, showing how gullible some cryptocurrency users can be.
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"I earn money while I sleep" claims promoter of Bitcoin investment spin-off called USI-Tech - Mirror Online
But the promoters refused to answer questions when confronted by the Mirror at their sales pitch
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Watch out! Bitcoin Miner Worm Is Turning Your Smart TV Into Mining Machine | NEWS.8BTC.COM
360 Cyber Security Research Institute recently detected the world’s first bitcoin miner worm ADB.Miner on Android platforms. This malware can affect multiple smart TVs, TV boxes and set…
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Cryptocurrencies Get Word From SEC Inspectors: We Are Watching - Bloomberg
Digital currencies just got name-checked by a group that many of their boosters would probably rather avoid: Securities and Exchange Commission inspectors.
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Maduro to pitch oil-backed cryptocurrency petro to OPEC | Venezuela News | Al Jazeera
Nicolas Maduro will propose OPEC countries ‘adopt a joint cryptocurrency mechanism’ backed by crude oil.
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Berkeley exploring ICO as hedge against Trump cutting off its funding - Business Insider
Elected officials in Berkeley, California, are exploring launching an initial coin offering to raise funding for affordable housing.
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Good luck, cryptocurrency world
SEC Chairman Jay Clayton has said repeatedly (with increasing force) that many cryptocurrencies and initial coin offerings fall under US securities law.
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ICO leaks users' passport data, calls police on guy who found the bug
Upcoming cryptocurrency startup Sentinel Chain, which sought to ‘unlock the economic potential’ of the poor, was apparently leaking users’ passport data.
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Bitcoin in Tennessee: Bill would officially recognize cryptocurrency
A Nashville lawmaker wants to officially accept electronic cryptocurrencies such as Bitcoin for financial transactions in Tennessee.
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Canadian Official Wants Google to Ban Ads for Crypto, ICOs - CoinDesk
A senior investigator at the Manitoba Securities Commission in Canada has said that the country’s regulators are “very pleased” with social media giant Facebook’s decision to ban ads for bitcoin and initial coin offerings (ICOs),
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Bitcoin betting set to be banned by wagering authorities | afr.com
Bookmaker Neds’ move to surf the cryptocurrency craze looks over barely after it began, with wagering authorities set to ban the practice of transacting in bitcoin.
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Bitcoin: ECB says regulating cryptocurrencies is not high on our to-do list
The regulation of bitcoin and other cryptocurrencies is far from being a top priority for the European Central Bank (ECB).
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Upbit will compensate customers in USD for their USDT holding if Tether's payment guarantee problem arise in the future. (Korean link) : Bitcoin
reddit: the front page of the internet
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