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DOLLAR’S REPLACEMENT? Bank of England governor Mark Carney said a central bank-supported digital currency could replace the dollar as the global hedge currency. Speaking at the Economic Policy Symposium in Jackson Hole, Wyoming, on Friday Carney discussed the need for a new international monetary and financial system (IMFS), noting that while the U.S. dollar has played a dominant role in the world order over the past century, recent developments such as increased globalization and trade disputes may have stronger impacts on national economies at the present moment than they would have in the past. Full story
WINTER WARMER: Hotmine CEO Oles Slobodenyuk couldn’t have picked a better place to pitch his new product: chilly Irkutsk in Eastern Siberia. At an event there this month, Slobodenyuk said his firm aspires to sell up to 200,000 of its bitcoin mining rigs that double as a home heating appliance to residents of the city. But the Ukraine-based company’s ultimate ambitions are far greater. “Our goal is to reach the point where 80 percent of all mining is done with the smart use of the hot air it’s producing, at the same time protecting the bitcoin network,” Slobodenyuk told CoinDesk. Full story
BARGAIN BITCOIN: Problems with Amazon’s cloud service, AWS, have disrupted services at some cryptocurrency exchanges on Friday. Binance saw problems internationally, according to its CEO Changpeng “CZ” Zhao. KuCoin also reported problems. The disruption to the crypto markets may have also brought traders some bargain purchases, with some exchanges indicating that bitcoin had been sold at sub-$1 rates, instead of the global average of over $10,000. Full story
LIBRA EXITS? Several backers of Facebook Libra are said to be considering backing out of the crypto project. According to a report from the Financial Times, three of Libra Association members (which were not named) expressed concerns over being seen to be linked to Libra after watchdogs around the world raised concerns over its potential threat to financial stability. Facebook should have addressed the regulatory issues before announcing the project, one firm reportedly said. Full story
SATOSHI CLAIM: Craig Wright, the Australian entrepreneur who controversially says he’s bitcoin’s anonymous inventor Satoshi Nakamoto, has made another attempt to cement that claim in the public domain. On Thursday, Wright posted the bitcoin white paper on scientific journal hosting site SSRN, citing himself as the author on Aug. 21, 2008. The self-certified posting of Satoshi’s white paper on the SSRN is unlikely to give his claim to have invented bitcoin any more validity. Full story |
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| GOING DOWN? Bitcoin's bounce from $9,755 to $10,255 seen in the last 24 hours lacked volume support and could be short-lived. Bearish developments on the three-day chart also favor a fall back to $9,755. Selling pressure would weaken if prices rise above the weekly high of $10,956. Full story |
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| | TERRITORIAL TAGGING: A legal spat is currently ongoing between two firms that used the words “blockchain” and “capital” to title their business entities. Yes, there are two Blockchain Capitals, and the one in the U.S. is suing the one in the U.K. for trademark infringement, according to a Forbes piece. They may struggle to win though, the article suggests, as trademarks are territorial. Further, there may be issues over the generic terms used in the name. |
WHO WON #CRYPTOTWITTER
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