Bitcoin Starting the Week Positive Though Still Below the USD$6,500 Technical Resistance Level
Aug 20, 2018
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- The lawsuit against AT&T, about lost cryptocurrency funds, is getting more interesting. Michel Terpin, the plaintiff in the lawsuit, claims AT&T permitted hackers to get control of his phone via a hacked SIM card. Terpin claims that AT&T alerted him that his password had been changed remotely 11 times. AT&T only cut off the hackers’ access to Terpin’s phone AFTER significant funds had been stolen.
- Binance announces its new market intelligence app is now in beta and is available for Android and iOS users. The app will provide comprehensive project information and market data for more than 1,200 digital coins and tokens, including their issue price, ICO date and circulating supply.
- A Bitcoinist op-ed suggested that mass adoption of cryptocurrecny and blockchain projects will be driven by console gaming industry. Since the majority of gaming takes places online, either through P2P networks provided by console manufacturers or through mobile platforms like cellphones or tablets, the gaming ecosystem naturally lends itself to disruption by blockchain. The writer highlights that the trends in microtransactions lend themselves to cryptocurrecny and blockchain solution(s).
- Crypto Poker Club is using blockchain to deliver a decentralized platform for users that is fully anonymous, which, according to the company, will offer tremendous data protection.
- Jacob Burrell Campos, a 21-year old Bitcoin trader/dealer, is being prosecuted for illegal money transmission and money laundering according to the Department of Justice in Southern District of California. Prosecutors are alleging that Burrell , from January 2015 to April 2016, sold ~USD$750,000 BTC to 900 individuals in the U.S. via his bitcoin exchange service. However, Burrell had not registered the exchange as a licensed money transmitter and intentionally failed to implement anti-money laundering measures
- Michael Casey, Chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative, published an op-ed today on CoinDesk that suggests cryptocurrency enthusiasts and evangelists need to get serious about properly educating the general public about blockchain. Casey argues that rather than debating price fluctuations and valuations in Bitcoin, cryptocurrency market leaders should be engaging with everyday people about the positives of Bitcoin and blockchain.
- Sensor Tower, an app research firm, is reporting that downloads of Square Cash has surpassed PayPal’s Venmo. As we discussed in our previous posts, Square Cash now permits users to pay in BTC.
- SoftBank is formally denying any involvement in a financing deal with Bitmain, the Bitcoin mining giant, as was reported last week.
- A South Korean businessman lost USD$2.3mm BTC in a Bitcoin-Fiat peer to peer scam. The South Korean man, who owns/runs a cryptocurrency firm, intended to exchange the Bitcoins for EUR2mm in cash with a Serbian buyer at a luxury hotel located in Nice, France last month. Only after the transaction had been completed did the South Korean man realize that the euros he had received were in fact counterfeit.
- Tube8, an adult video service and a subsidiary of Pornhub, announces it is partnering with Vice Industry Token (VIT) to pay viewers for interacting with content using VIT tokens. The goal would be to fully tokenize Tube8’s online platform.
- According to Upwork’s quarterly skills report, demand for persons with blockchain skills are now the most sought after in the job marketplace with demand significantly outstripping supply.
- The Chinese state-owned news agency, Xinhua, is reporting that Chinese police have arrested 3 people in relation to losses of USD$87mm BTC in relation to hacks targeting corporate and personal networks.