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Witnessing the digital breakthrough

Image of The Day, 12 of September: Forbes, Quartz, Fortune, and Others

12 September 2018 23:59, UTC
Image of The Day, 12 of September: Forbes, Quartz, Fortune, and Others

We're presenting "the image of the day". 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. BITCOIN DUMP (Tech Crunch)

Walmart is now selling bitcoins for $1

Walmart is now selling bitcoin for $1. But in a new spin on the volatile and ever-changing world of cryptocurrency, this digital currency is made of chocolate.

Frankford bitcoins are 1.42 ounces of milk chocolate wrapped in gold-colored foil made by Frankford Candy. They’re reminiscent of the regular old foil-wrapped milk chocolate coins of yesteryear. But of course, entirely different because they’re called bitcoin.


Ontario town plans to pay ransom after computers locked down

A town in the Ontario Province of Canada has decided to pay hackers the ransom they are demanding in bitcoin in order to get its computer network working again.

Midland, which has a population of over 16,000, had its computer systems breached and infected with ransom malware that encrypted files at the beginning of the month. The cyber attack rendered the town’s computers inoperational for around 48 hours and this crippled email services, processing of payments, issuance of permits, reloading of transit cards and processing of marriage applications. The town has consequently started the process of paying the unspecified ransom amount in bitcoin in order to get the decryption keys.


70% of finance execs believe cryptocurrency is here to stay

The new survey found that the majority of the 141 institutional investment executives it had polled believed that a regulatory framework would develop around cryptocurrencies, leading to the growth and innovation, or that a few cryptocurrencies would survive and thrive, even if many others failed. This report, released today by the consulting firm Greenwich Associates says that over 70% of institutional finance executives surveyed believe that cryptocurrency will have a place in the future of the industry.

"They’re telling us that they don’t think it’s going away but it’s here to stay," says Richard Johnson, a vice president in Greenwich Associates' Market Structure and Technology group and the author of the report.

4. THE HIGH DOG (Quartz)

The strongest cryptocurrency right now is a joke coin

Over the past there months, Dogecoin—a cryptocurrency created in 2013 as a joke—has roughly doubled in value. The digital token, which its own creator still dismisses as ridiculous, inexplicably claims a $740 million market cap and an average daily trading volume worth millions of dollars.

Despite its jokey origins, crypto hobbyists have found whizzy technical ways to connect Dogecoin to Ethereum, using the coin to experiment with the interoperability of crypto assets more broadly. Despite the lack of serious results - that caused significant growth of the coin.


Operators of decentralized cryptocurrencies are centralizing their lobbying

On Tuesday, several industry firms announced a new umbrella group called the Blockchain Association. The move comes amidst a cryptocurrency market crash that rivals the NASDAQ’s crash in 2000.

The founding members are Coinbase, Protocol Labs, and Circle, and investors are Digital Currency Group and Polychain Capital, according to a statement. The association wrote that “we’ll advocate for our community and the opportunities presented by our technologies, and encourage regulatory solutions that protect consumers and support innovation.”

6. THE NEXT BIG THING (Seeking Alpha)

Vechain might be the next major blockchain success story

On September 23rd, U.S. audiences will get some of their first tastes of Vechain - a Shanghai-based blockchain company. This will come via CNBC's series "Advancements" with host Ted Danson, as he travels to Shanghai to profile the company and its work.

Vechain does have a working product. It's a product that the company has been developing since 2014: a blockchain-based ledger that helps record large-scale logistics for enterprises. With an original focus on anti-counterfeiting, Vechain has seen its blockchain idea expand to insurance, automobiles, luxury goods, and more.

7. A CHANGE OF HEART (Finance magnates)

Julius Baer wants to launch a cryptocurrency product

Reports this Wednesday suggest that the Julius Baer Group is launching its first cryptocurrency product. The asset manager, one of the oldest banking institutions in Switzerland, is arguably the largest asset manager now offering a cryptocurrency product.

Company documents indicate that the asset manager is using Block Asset Management to aid it in its product launch. Block Asset Management is a cryptocurrency investment management firm. This is a huge u-turn for the company as it previously disparaged cryptocurrency investment.


66% of Cryptocurrency Enthusiasts Don’t Want to Receive Wages in Fiat

Companies and projects wishing to attract the best and brightest young talents need to offer bitcoin salaries. A recent survey of cryptocurrency enthusiasts has found that 66% of the community would prefer to receive their wages with these new assets than fiat.

66% of those surveyed wanted their employers to embrace the change and answered that they personally would be willing to receive wages in cryptocurrencies. And 83% of respondents said they were more than happy to receive their bonus payments in cryptocurrencies. Additionally, 72% of those surveyed said they would prefer an employer who had a salary payment option in cryptocurrency when choosing their next place of employment.

9. TOSSING THE DICE (The Next Web)

EOS-powered dice game pays out $600K to one user in just 36 hours.

Another “lucky” punter has experienced an incredible hot streak when gambling on the decentralized web. An EOS-based blockchain betting game, more commonly known as EOSBet, has paid over $600,000 in winnings to just one user in less than two days.

Somehow, an individual has consistently doubled his money by betting on blockchain dice. After trawling through the relevant transactions, Hard Fork has calculated that more than 126,000 EOS ($611,000) was sent from an official EOSBet wallet to just one “winner,” across dozens of transactions.


Bitcoin Might Revisit $5,850 And Below Before Full Recovery

Bitcoin has been under pressure along with many of its peers in the top 100 cryptos based on market cap. Its trading volume, on the other hand, continues to lead the market along with its market dominance. More companies are now accepting Bitcoin as a payment method than ever, and once we see the real bullish movement start again, we can expect to see more people jump back on the Bitcoin investing wagon. Until then, however, Bitcoin might drop back to 2018 lows and beyond based on some technical observations.

Read the best crypto news analysis here! Bitcoin, investments, regulation and other cryptocurrencies
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