Wednesday, October 10, 2018

Warren Buffett / Bitcoin Rat / SpankChain / AARP

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

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1. Warren Buffet is the CEO of Bitcoin, according to Google. Of course, Buffet is not the CEO of bitcoin and has actually voiced his distaste for cryptocurrencies. As pointed out on Reddit, that has not stopped misinformation from spreading on the search giant. A simple search of "bitcoin CEO" on Google named Buffet, JPMorgan CEO Jamie Dimon, and Mastercard CEO Ajay Banga, as all being – at least at one time – the CEO of the cryptocurrency. This information is wrong for many reasons, chief among them is that bitcoin is not a company and does not have a chief executive. –VICE

Google identifies Buffett, others, as CEO of Bitcoin
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2. An inflatable white rat has been placed outside the Federal Reserve Bank of New York's office in New York in an effort to gain attention for bitcoin. Placed by artist Nelson Saiers, the rat is covered with code, and the letters "PoW," short for proof-of-work, on its eyes. The rat was placed in protest to the control the Federal Reserve holds over the financial system. –COINDESK

Giant rat promoting bitcoin put outside Federal Reserve
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3. A smart contract security breach led to the loss of more than $38,000 at adult entertainment platform SpankChain. Hackers were able to steal 165 ETH coins from the ethereum-based platform's smart contract channel. Hackers were also able to immobilize about $4,000 work of the site's internal token, called BOOTY. The company said it plans to repay customers who lost funds with an airdrop. –COIN TELEGRAPH

Adult platform SpankChain suffers crypto breach
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4. The AARP has told bitcoin to get off its lawn. The organization, which features more than 38 million members, came out this week with a glossary of Wall Street buzzwords. The definition of bitcoin was less than flattering. "Bitcoin — A bunch of computer code that a bunch of criminals, idealists and speculators agree is worth 'real' money. Sadly, its real-money value swings widely, making it impractical except for criminals, idealists and speculators." –MARKET WATCH

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5. Google pokes fun at bitcoin and crypto mining in an ad for its new Call Screen service. –FORBES

6. Thai authorities have seized $6.4 million in assets from a popular actor over his alleged role in a bitcoin scam. –CCN

7. Bitcoin is mentioned in the latest Goosebumps, the children's scary book series. –BITCOINIST

8. A report claims China has "strong motive" to destroy bitcoin. –NEWS BTC

9. CNBC looks at how blockchain could impact people's lives a decade from now. –CNBC

10. Bitcoin mining in China continues to get cheaper. –ETHEREUM WORLD NEWS

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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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