We're presenting "the image of the weekend". Bitnewstoday.com chose 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 week in the most indicative quotes below!
1. CONFLICT OF INTEREST (Insider)
In a sign that Facebook's secretive blockchain effort is progressing, David Marcus, the head of that project, announced he's leaving the board of $8 billion cryptocurrency startup Coinbase.
Marcus joined Coinbase's board in December 2017. His decision to resign "was made to avoid the appearance of a conflict of interest," a Coinbase representative told CoinDesk, which first reported the news. The representative did not elaborate further to CoinDesk, and a Coinbase representative did not respond to Business Insider's request for more information.
2. GAMBLING ISSUES (Bloomberg)
It turns out that gambling, not buying digital kittens, is one of the most popular applications on the blockchain - the distributed ledger technology that has been touted as the solution for everything from world hunger to money transfers.
Of the top 10 distributed apps by money received, gambling as a category is only second to exchanges, according to DappRadar, which tracks applications that run on blockchain. Gambling-related token sales also continue to gather steam: Dragon Coin and another ICO raised nearly $1 billion, while a total of 21 other projects have garnered another $300 million through initial coin offerings
3. THE NEW KIDS (CNBC)
Rise of cryptomining operations in college dorms raises concerns about unspecialised networks vulnerability to attacks. Malware is a known danger of the cryptomining software and can easily become dangerous for the safety of related networks. But mining itself is not the biggest danger - process itself can send electricity bills soaring.
Students that mine crypto do not pay for the “juice” that powers their mining units and universities do."I think there are a lot of universities that don't know this is happening. I don't think that they would want it to happen either, considering it costs $4,700 to mine one bitcoin. That's about 10 percent of the annual tuition at a private university," said Mike Baic, VC president of marketing at VECTRA.
4. WHO IS MR.NAKAMOTO (Bitcoin.news)
Satoshi Nakamoto hunted internationally, as the bounty grows
#Findsatoshi is the latest effort to galvanize worldwide support in order to, once and for all, find the enigmatic creator of Bitcoin, Satoshi Nakamoto. The group has taken to an international crowdfunding campaign, enlisting world class private detectives from Japan to New York, and everywhere in-between.
“It’s about time we found Satoshi Nakamoto,” one of the “hunt” organizers explains. “Before the new economy gained momentum and until Bitcoin did not cost nearly $20.000, digital money could have been called ‘geek pampering.’ The appearance of Bitcoin is widely compared to supernova explosion. And after one has happened, some uncertainty started to take place.”
5. TRON FOR TWITTER (Daily Hodl)
Tron payment platform Seedit is ready for launch on Twitter
Seedit was created by Tron super representative Sesameseed, a company founded in Los Angeles. The platform is gearing up to expand after its initial launch on Telegram.
The company’s vision is to give Tron hodlers an easy way to send TRX to their favorite content creators, developers, authors, bloggers, family and friends. Although the company says its testing phase has been successful, it has not yet released an exact date on when Seedit will debut on Twitter.
6. GOT TO GET A GRIP (FORBES)
It was expected Bitcoin and Cryptocurrencies will do well in times of Emerging Market stress. Because you live in an emerging market country, where the political situation is tenuous and your currency is devaluing rapidly, it would make sense to want to store it, or hide it, or invest it in cryptocurrency. In theory Bitcoin is the ideal “hedge” for a person of wealth in such a situation.
Which should have been crypto's moment to shine, it has disappointed, which is something every bitcoin owner needs to think seriously about why and what the ramifications are.
7. TOM LEE: “MILLENNIALS HATE BANKS” (Dailyhodl)
According to his words millennials’ aversion to banks has the power to dramatically reshape the financial landscape, with crypto-friendly companies like Robinhood and Square poised to reap the benefit.
Lee points out that ICE’s new crypto platform Bakkt is likely to have distinct advantages over current crypto exchanges like Coinbase. ICE plans to create a new type of one-day futures contract that actually pays out in Bitcoin.