We're presenting "the image of the day". Bitnewstoday.com has chosen only the freshest and 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 of today's stories in most indicative quotes are below!
1. OVERREACTING (CNBC)
Don Morehead claims that investors are overreacting
"That's huge news," Morehead said. "That is going to be a very profound impact over the next five or ten years for the markets, and, to my mind, that's what people should be focused on".
2. DIGITS FOR ART(Forbes)
House of Fine Art (HOFA) is selling their art for 8 Of The Top Crypto
The House of Fine Art (HOFA) announced the groundbreaking eight-week exhibition to fall in line with London’s innovative Art event, Frieze 2018. Known for their high-end fine art, the owners wanted to showcase an event which would include the growing cryptocurrency community.
“We had already experienced great demand for transactions to be made with bitcoin and wanted to expand on this,” said HOFA spokeperson.
3. RANSOM (Mashable)
Unknown criminals took over the PGA of America’s servers on Tuesday
America's last bastion of proud visor-wearers is scrambling this week after unknown criminals took over the PGA of America’s servers on Tuesday — locking the golf association out of its files just days before the official Aug. 9 start of the PGA Championship in Missouri. Hackers demand bitcoin.
“Your network has been penetrated”, read the ransom note according to Golfweek. "All files on each host in the network have been encrypted with a strong algorithm”. PGAs extensive promotional banners and logos used in digital and print communications in addition to development work on logos for future PGA Championships ended up under a lockdown.
4. LET’S GO BASIC (news.bitcoin)
Electron Cash Can Now be Installed on Nokia Style Feature Phones
Bitcoin Cash proponents are excited to see an Electron Cash client for feature phones as the wallet could help spread adoption in areas where basic phones are more prevalent. These areas would include Asia and Africa and, according to Counterpoint research, there are 1.3 billion feature phone users worldwide.
The Electron Cash J2ME version source code is available for review on Github, explains the development team. “The original python code was rewritten in Java, mostly from scratch, in order to build this wallet. It is currently published on GitHub as an alpha release and is currently being reviewed and tested”, Jonald Fyookball, Electron Cash lead developer, emphasized.
5. TEZOS (Bloomberg)
A high-profile “Crypto-Valley” legal dispute over the Tezos initial coin moves forward
In a preview of how litigation may play out in cryptocurrency fights with tentacles spanning the Atlantic, if not the globe, a U.S. judge rejected a bid by the Zug, Switzerland-based Tezos Foundation to toss an investor lawsuit, ruling the case will move forward in federal court in San Francisco.
The case now In Re Tezos Securities Litigation, 17-cv-06779, U.S. District Court, Northern District of California (San Francisco).
6. SWISS PUT CRYPTO ON BOARD (NEWS.BITCOIN)
Swiss Banks Are Onboarding Crypto Clients and Assets
Another Swiss private bank has announced in a statement that it’s open to on-board cryptocurrencies. Maerki Baumann private bank in Zurich is open to accepting assets that were generated with cryptocurrencies, “under the condition that strict regulatory and legal requirements are fully complied with,” said Managing Director Stephan Zwahlen.
7. WELCOME ABOARD! (Business Insider)
Shipping group Maersk said on Thursday that 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.
Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platform, Maersk aims to expand its transport and logistics business in areas such as freight forwarding and trade finance.
8. NEW WORLD OF VC (Reuters)
Japanese asset managers see new era in venture capital investing
The hugely successful IPO by online marketplace Mercari in June was a bonanza for its shareholders – and may transform lukewarm attitudes among mainstream asset managers about investing in startups, according to major Japanese institutional investors and industry officials.
“Venture capital used to be the ‘ugly duckling’ of private equity in Japan. Now we are seeing way more interest from institutional investors,” said James Riney, head of startup accelerator 500 Startups Japan. “Thanks to Mercari for making a big splash noticeable on a global scale.”
9. HOME ISSUES (Washington Post)
Ping An’s Prudential Tilt Hints at Home Troubles
Ping An has evaluated acquiring the U.K. insurer’s fast-growing business in the region, Manuel Baigorri, Ruth David, Steven Yang and Zhang Dingmin of Bloomberg News wrote Wednesday. The Shenzhen-based firm has gone so far as to talk to banks about financing a deal that, including Prudential’s Eastspring asset management, could be valued at $51.5 billion.
But their growing appetite for the overseas companies is a clear indicator of problems with CHinese officials, say experts.
10. Spread the risk and HODL (The Next Web)
Recent data suggests traditional venture capital (VC) firms are gradually starting to diversify their portfolios, investing in more cryptocurrency and blockchain projects than ever before.
Household names like 500 Startups and Andressen Horowitz have made the top 10 after showing continued interest in funding blockchain projects. The study – put together by Crypto Finance Conference and exclusively shared with Hard Fork – highlighted how traditional venture capitals are spreading their risk by investing in specialist blockchain funds as well as startups.
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