Here’s what’s been happening in the crypto world over the past 7 days.
Cryptocurrency Community and Adoption News
Bitcoin College Fund Performs Better than Some of the Largest US Companies
Last year was a good one for Bitcoin in terms of performance. It outperformed the likes of some of the biggest US companies, such as Apple, Tesla, Netflix and Google. One year ago, one father started a Bitcoin college fund for his daughter. And her fund “has performed better than some of the biggest stock market darlings”, as Forbes writes.
Crypto Ads Shown to English League Football Fans
This weekend, Liverpool played against Tottenham, at Tottenham’s home ground. According to Crypto Daily, Bitcoin ads by various crypto companies were shown between the halves of the game. That’s important for cryptocurrency adoption since the Premier League is, reportedly, one of the most-watched sporting leagues in the world. In addition to that, the clubs were even paid in Bitcoin for the advertising opportunities.
Bitcoin Ads at South African’s Biggest Train Station
As already mentioned in one of our previous crypto news roundups, South African is one of the most crypto-friendly African countries and its citizens love cryptocurrency. However, without a doubt, not everyone knows about it yet. A newly-spotted crypto ad by one Bitcoin exchange with the message “Money is evolving. Buy crypto.” might change that. The ad is located at Gautrain, a commuter rail system that connects Johannesburg, Pretoria, Ekurhuleni and the OR Tambo Airport, transporting between 90,000 and 110,000 passengers daily.
Bitcoin ATMs in Canada Now Support Buying and Selling of Stablecoins
According to Coinspace, crypto fans in Canada can now buy and sell stablecoins at various Instacoin Crypto ATM locations. The ATMs operate in adherence to AML/KYC policies and without an ID, users can make transactions of up to $C10,000 per day.
Venezuela Could Lead Merchant Adoption of Crypto Payments
Venezuela and crypto have a pretty good relationship. From Venezuelan pensioners and public servants getting Chrismas bonus in the government’s cryptocurrency, to the growing number of Bitcoin ATMs in the country, to Bitcoin saving families in Venezuela. Now, Daily Hodl reports that crypto usage at retail locations in the country could rise from 1% to 10% by the end of this year. Also, an estimated $25 million worth of crypto will be involved in retail transactions every year. According to the article, “Venezuela could become ground zero in the push for widespread adoption of cryptocurrency.”
First Bitcoin Transaction’s 11th Birthday
Thirteen days ago the Bitcoin network celebrated its 11th birthday. This Sunday marked 11 years since another important event in the Bitcoin history – the first Bitcoin transaction between Satoshi Nakamoto, the anonymous Bitcoin creator, and Hal Finney, a computer programmer. Back in 2009, Satoshi sent Hal Finney, who some people believe was Satoshi himself, 100 BTC.
Twitter’s Bitcoin Tipping Feature: Just Rumour or Truth
Rumours are that Twitter is considering a tipping feature, that will allow users to tip each other from their tweets. Although Twitter’s CEO, Jack Dorsey, is a Bitcoin bull, who believes that Bitcoin may become the native currency of the internet, according to Yahoo, “some news outlets are misreporting that Twitter is considering a bitcoin tipping feature”. “It remains to be seen whether Twitter develops such a feature and if so, whether it will integrate bitcoin into it,” reads the same Yahoo article.
Plugin for Fighting Fake News and Earning Crypto
Crypto startup Datafloq has recently launched a browser plugin that allows users to rate articles across the web, reports Micky. As a reward for helping in fighting the fake news, users earn cryptocurrency.
Blockchain One of the Most In-Demand Tech Skills for 2020
According to new research, blockchain skills are one of the most in-demand tech skills for this year. “Companies around the world are looking for people with capabilities in this field and it appears that demand far outpaces the supply,” reports Bitcoin News.
The World’s First On-Premise Blockchain Voting
This Monday, ACCESS, the Singapore Cryptocurrency and Blockchain Industry Association, announced that it “successfully ran an on-premise blockchain voting during its annual general meeting (AGM)”. According to the press release, ACCESS is “the world’s first association to officially implement a blockchain technology solution for on-premise voting beyond a pilot phase, in a live environment for attending members.” The purpose of the solution, developed using the Ethereum blockchain, is to increase transparency and protect anonymity during the voting process, as well as prevent double voting.
“China’s Google” Launches Beta Version of Blockchain Service for Businesses
It’s already well-known that China is a blockchain-friendly country. As MIT Technology Review reports, Chinese search engine Baidu has recently launched Xuperchain, a public beta version of Baidu’s blockchain service for businesses. Reportedly, small and medium-sized business operators will, thanks to the service, be able to cheaply build and deploy blockchain applications.
Australia Rejects Libra
As AMBCrypto reports, the Reserve Bank of Australia (RBA) has been been working with regulators to monitor the stablecoin project Libra. In a Submission to the Senate Select Committee on Financial Technology and Regulatory Technology, the RBA states that:
“[The G7] cautioned that private sector global stablecoin initiatives should not be permitted to launch until all risks and regulatory requirements have been addressed. The Bank is supportive of this view.”
The RBA also confirmed that it is considering creating the digital Australian dollar that would speed up transactions.
Austrian Crypto Firms Must Register With FMA
We’ve already mentioned some UK firms shutting down due to stricter EU anti-money laundering rules in one of our previous weekly news articles. According to Finance Magnates, Austrian Financial Market Authority (FMA) now requires crypto businesses to apply for a license in order to operate. As a result, those that do not register can get a €200,000 fine.
North Korea Hackers Deliver Malware Through Telegram
According to Coindesk, Kaspersky Labs has been analysing new attacks from the North Korea-linked hacker group Lazarus. They found out that their tactics, aside from a software update for a fake cryptocurrency wallet, and creating a backdoor for Mac software that bypassed security mechanisms, now also include delivering malware via files through the messaging app Telegram.
Fighting Bad Guys
In partnership with the Middlebury Institute of International Studies at Monterey, Middlesex University London, as well as the Blockchain Acceleration Foundation, CipherTrace, a crypto analytics company, has created a program for training students to investigate crypto-related scams. The program, called Defenders League, will train and certify students to use company’s financial investigation software, reports Cointelegraph.
For the past seven days, the price of Bitcoin ranged between around US$7,752 and US$8,841.
According to News BTC analysis, Bitcoin is currently in a short term accumulation phase, and it could “either rally above $8,200 or it might dip to $7,700 before a decent bounce”.
That “decent bounce” could apparently be anything between the tens of thousands to hundreds of thousands. According to Fundstrat’s Thomas Lee, there is a “strong probability” that Bitcoin will see 100% gains in 2020. On the other hand, one Bitcoin analyst believes that Bitcoin will be worth US$100,000 in the next two years.
Bitcoin is gonna break $100k in the next 24 months, and there’s nothing you can do about it.
— Bitcoin Macro (@BTC_Macro) January 11, 2020
We closed the day, January 15 AEST time, at a price of around US$8,841 (~ AU$12,826 / £6,788).
Tamara is a marketing and PR professional, enthusiastic about crypto, blockchain and technology in general. She’s the editor at Bitcoin Australia.