We're presenting "the image of the day". Bitnewstoday.com 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.IT'S NOT THAT BAD (Forbes)
Bitcoin horrible month is not as bad as it might seem.
Bitcoin has seen quite a heavy sell-off over the last 30 days but that was preceded by a bull run, leaving the bitcoin price more-or-less flat — and reminding investors to take a wider view of market movements. Despite hitting highs of almost $7,500 earlier this month, the bitcoin price has dropped back to just over $6,300 today — pretty much exactly where it was some 30 days ago.
There were fears in early September bitcoin, as well as other major cryptocurrencies including ethereum, ripple, and litecoin, were going into freefall as investors panicked over whether the much anticipated institutional money that many have been expecting to be injected into the market will actually appear. But this situation and urge to sell-off “ Right now” seems to have stabilized.
2. NO COUNTRY FOR THE MINER (The New York Times)
In search of cheap energy miners flock at the far corners of N.Y. But local aren’t happy.
The hulking aluminum plant in this northern border town is starting to spew heat and noise again, four years after Alcoa shut it down. But now the hot hum comes from thousands of Chinese computer servers whirring away 24 hours a day for a very modern purpose: producing Bitcoins and other digital currencies.
Local citizens are not happy about that, since most of them use electricity for heating and even with a lot of the cheap energy, it doesn’t take them too long to run out of the city limit on power, which forces city council to buy more power for much higher prices, and as a result - local utility bills rise dramatically.
3. PRE-PARTY (News. Bitcoin)
Artists Congregate in France to Celebrate Upcoming Tenth Anniversary of Bitcoin
Art(r)evolution, an exhibition celebrating Bitcoin’s upcoming double-figure birthday, will see “international artists from various horizons [exhibiting] their works around the theme of Bitcoin and cryptocurrencies” in Paris, France. According to the exhibition’s website, “The exhibition will show the potential of cryptocurrencies through symbolism and practice,” and “will illustrate the genesis of this digital revolution.”
Exhibition’s creators seek to provide “a unique opportunity to decode the potential upheavals that cryptocurrency and blockchain can cause in the world of art.” The themes explored include whether “selling works without intermediaries [is] now possible” and if cryptocurrencies comprise a vehicle for “freeing yourself from the art market and banking system.”
4.BETTER THAN BLOCKCHAIN (Yahoo Finance)
Weed surpasses traditional assets on the market
Over the last few weeks, shares of Tilray (TLRY), a Canadian cannabis company, have become a fascination among investors as the stock has gained more than 700% since being priced at $17 during its July IPO.
In early trading on Wednesday, Tilray shares were up over 40% after the company’s CEO Brendan Kennedy said on CNBC’s Mad Money that cannabis is a “hedge” for pharmaceutical companies and investors because it can replace prescription opioids and other painkillers. The stock has now more than doubled in the last week.
5. ISIS PREFERS ZCASH (The Next Web)
Criminals are still using Bitcoin, but ISIS loves ZCash
Europol has found that Bitcoin is still the chosen cryptocurrency of the internet underworld. The insight comes from Europol’s latest Internet Organised Crime Threat Assessment (IOCTA) report. Among other things, the research claims cybercriminals still favor Bitcoin over other cryptocurrencies – despite its lack of anonymity features.
Europol also anticipates a more pronounced shift towards more privacy orientated currencies. This shift will be exemplified by an increase in extortion demands and ransomware in these currencies. In particular, members of terrorist organization ISIS already seem to enjoy ZCash. Europol notes that ISIS has used ZCash to purchase website domains. Reassuringly, Europol does concede that terrorists did not finance any attacks on European soil with cryptocurrency directly.
6. RIPPLE - NET (Daily Hodl)
PNC Bank, a top 10 US bank, has joined RippleNet
As a member of Ripple’s growing list of banking partners, PNC customers will be able to receive real-time cross-border payments. PNC has more than 8 million customers and retail branches in 19 states. Its customer base ranges from consumers to small businesses and large corporates. Ripple’s technology will enable PNC’s commercial clients to receive payments from overseas banks in real time. For example, a commercial client in Pennsylvania receiving a payment from a UK buyer will be able to receive payments against their invoices instantly.
RippleNet is a network of banks and payment providers that use Ripple’s blockchain to process payments, including the option to leverage XRP to lower liquidity costs and improve speed. By driving fast and cost-efficient transactions, Ripple aims to transform how banks manage working capital and accounts receivable.
8. SOMETIMES PEOPLE HAVE NO LIMITS (The Next Web)
exas regulator goes after scammers boasting fake Obama endorsements
The Texas State Securities Board (TSSB) is taking emergency action against cryptocurrency scammers, peddling fake endorsements and posing as well-established blockchain services.
In a statement from yesterday, TSSB Commissioner Travis J. Iles revealed the board has issued a cease and desist letter for three cryptocurrency businesses. The suspected businesses are currently under investigation
The TSSB claims that Coins Miner Investment, DGBK Ltd, and Ultimate Assets LLC have been duping potential customers with incorrect, false, and totally misleading information. Coins Miner was manipulating its email solicitations to make them appear as if they came from Coinbase. The company is also promoting itself by brandishing around social media a 33-second video of Barack Obama supposedly endorsing its products.
7. ARMED AND DANGEROUS (Market Watch)
Ethereum technology could slice bitcoin’s market cap in half, says tech analyst
The cryptocurrency that supports the ethereum network, the world's most popular blockchain for new crypto ventures, could scoop up to half of bitcoin’s market share within five years, according to one tech analyst.
Despite losing close to 90% of its value peak-to-trough, Ian McLeod, analyst for Thomas Crown Art, an art agency that uses the ethereum blockchain to protect against nefarious activity in the art industry, said the recent plummet in the price of Ether has bottomed, and as the utility of the immutable ledger grows, its price will make a rapid reversal.
8. CODE RED (News.Bitcoin)
Critical Bug Found in Bitcoin Core
Over the last 24 hours, the cryptocurrency community has been discussing a critical vulnerability that was found in the Bitcoin Core (BTC) reference client. A bug introduced in Bitcoin Core version 0.14, that also affects all subsequent versions, could have caused a great majority of current Core nodes to crash. According to the developer’s Optech newsletter, Core contributors released a patch that fixes Core version 0.16.2 and the latest 0.16.3 fix requires an immediate upgrade.
9. BITCOIN IN THE CROSSHAIRS (Bloomberg)
Hackers Are Targeting Bitcoin With a Leaked NSA Software
Hackers are illegally generating Monero, Bitcoin and other cryptocurrencies by exploiting a software flaw that was leaked from the U.S. government, according to new research, raising questions about the security of one of the fastest-growing corners of financial markets.
The spike is tied to the 2017 leak of Eternal Blue, a tool to exploit vulnerabilities in outdated Microsoft Systems software. When the tool became known, it tipped hackers to a previously unknown flaw in the software, now the basis of some hackers’ efforts to commandeer computing power of others to generate digital currency.
10. ENDING THE WILD WEST (Market Watch)
‘Wild West’ cryptocurrency market needs to be regulated
Members of the U.K. Treasury Committee have called on regulators to police the murky industry of cryptocurrencies that members labeled as the “Wild West.” In a paper, the committee said the lack of oversight leaves investors vulnerable to malicious activity. “Bitcoin and other crypto-assets exist in the Wild West industry of crypto-assets. This unregulated industry leaves investors facing numerous risks,” said Nicky Morgan MP, and chair of the Treasury Committee.
“Given the high price volatility, the hacking vulnerability of exchanges and the potential role in money laundering, the Treasury Committee strongly believes that regulation should be introduced”,- said Morgan.