Tuesday, October 30, 2018

Climate Change / Specifications / Bitcademy / Janet Yellen

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$BTC (1:04 p.m. EST): $6,341.24 (-0.12%) // 90-day high: $8,209.07 // 90-day low: $6,253.11/ / More

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Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Researchers at the University of Hawaii at Manoa published a study that claims bitcoin mining could help speed up climate change. The study argues that miners – particularly in Asia – rely on electricity from coal power. The use of that coal could increase greenhouse gases, rising the global temperate two degrees Celsius over the next 11 to 22 years. While the study did raise eyebrows, several experts and analysis poked holes in the theory, primarily the assumptions it makes about the future growth of renewable energy, or the idea that bitcoin will become more of a functional currency opposed to an investment vehicle. –BLOOMBERG

Report argues bitcoin could accelerate climate change
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2. The Ethereum Enterprise Alliance has released new specifications for ethereum blockchains. The specifications are part of an effort to provide standards for developers using private iterations of the blockchain. The EEA said it may look to standardize other functions in the future, including streaming the payment process, as well as various applications for specific sectors, such as automotive and health. –COIN TELEGRAPH

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3. Blockchain startup Bitcademy wants to upset the international soccer market. The platform aims to allow fans to invest in and sponsor athletes in Asia and Africa that are talented, but may not be able to follow a professional career. The company also plans to set up training and development academies to add transparency to the system. –FORBES

Bitcademy looks to overhaul international soccer
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4. Former US Federal Reserve chair Janet Yellen criticized bitcoin in a speech on Monday. Speaking at the 2018 Canada FinTech Forum, Yellen said bitcoin is – among other things – not good for transactions, not a stable source of value, and not an efficienct means of payment. "It has difficulty because of its very decentralized nature," she said. –COIN TELEGRAPH

Yellen continues criticism of bitcoin
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5. Bitstamp has been acquired by NXMH, an investment firm based in Belgium. –COINDESK

6. Ethereum Wallet by Freewallet is again available for download in the Google Play store. –COIN TELEGRAPH

7. An analyst claims that Litecoin Core 0.17 will exceed bitcoin cash on cost and speed, especially after developers confirm that transaction fees will reduce 90 percent. –BITCOINIST

8. Shocker: The folks at Reddit aren't buying MapleChange's hack story. –REDDIT

9. A university in the Philippines has launched the country's first blockchain R&D lab. –CRYPTOVEST

10. The world's two largest diamond miners will work together on a blockchain project. –MINING.COM

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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