Mt. Gox deadline extended / No need for CBDC / Crypto scam websites rise

Inside Bitcoin presented by Audible.

Presented by Subscribe | View in browser Market Watch: Halloween has seen most coins trading in the green today. Bitcoin is steadily climbing back to the $10,000 mark following its drop to below $8,000 last week. Bitcoin: $9,331 (⬆️ 2.13%) // $168.1 billion market cap. Ethereum: $184 (⬆️ 0.59%) // $20 billion market cap. XRP: $0.295 (⬆️ 0.63%) // $12.8 billion market cap. Bitcoin Cash: $287 (⬇️ 0.97%) // $5.1 billion market cap. Top 100 Winner: Seele: $0.067 (⬆️ 10.98%) // $46 million market cap. Top 100 Loser: Noah Coin: $0.001 (⬇️ 61.47%) // $43 million market cap. Prices are as of 2:30 p.m. EDT.       1. The submission deadline for Mt. Gox Bitcoin claims has been extended again after the trustee noted that there was a high request for problematic requests. In a statement released October 28, Nobuaki Kobayashi made the announcement a day before the deadline arrived. This will be the second extension given following one in April. The statement reads that "a large amount of rehabilitation claims that the Rehabilitation Trustee fully or partially disapproved remains undetermined for being subject to claim assessment procedures and appeals against a decision on a petition for claim assessment." Being unable to submit a rehabilitation plan by October 28, Kobayashi filed a motion for an extension deadline to March 31, 2020. –COINTELEGRAPH       2. Hong Kyung-sik, director of financial settlement at the Bank of Korea, has said that developed economies have little need for a central bank digital currency (CBDC). According to Hong, the possibility of a CBDC becoming a reality in advanced countries is small. Citing Korea as an example, Hong went on to say that the country already has an "advanced payment and settlement infrastructure." Not only that, but money can be moved quickly, cheaply, and safely. Hong's comments come at a time when China is racing to launch the first CBDC following Facebook's plans to introduce a stablecoin in 2020. Huang Qifan, vice chair of China Center for International Economic Exchanges (CCIEE), said earlier this week that the People's Bank of China (PBoC) would be the first to launch a digital currency. –COIN DESK       A MESSAGE FROM AUDIBLE Start listening with a 30-day Audible trial and your first audiobook plus two Audible Originals are free. Audible delivers best sellers, business, self-improvement, memoirs and more – all professionally narrated by actors, authors, and motivational superstars like Rachel Hollis, David Goggins, and Mel Robbins. Audible members can also get free access to the New York Times, Wall Street Journal and Washington Post delivered daily to the Audible app. Sign up at audible.com/insidenews for your 30-day Audible free trial.   3. Throwback Thursday: Satoshi Nakamoto publishes Bitcoin whitepaper Eleven years ago today, the group or person pseudonymously known as Satoshi Nakamoto released the Bitcoin whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System. Outlining a decentralized and tamper-proof peer-to-peer (P2P) system, the paper showed that based on a proof-of-work (PoW) algorithm, coins called Bitcoins could be mined for a reward by the nodes that were part of the network. At a time during the 2008 global financial crisis, the whitepaper demonstrated the possibility of removing the need for banks and financial institutions to conduct transactions. Since 2008, Bitcoin has come on in leaps and bounds, achieving an all-time high value of over $20,000 during the 2017 bull run. Not only that but in the middle of October, it was revealed that since the creation of the first block - the genesis block - on January 3, 2009, miners have made around $15 billion in revenue. On top of that is the fact that as of August, 85 percent of Bitcoin's circulation supply has been mined, leaving 3.15 million for the next 120 years. The last eleven years seem to have flown by and there is still much in store for Bitcoin, but one question remains: who is Satoshi Nakamoto?       4. The Financial Services and Markets Authority in Belgium has issued a fresh warning over suspected crypto scam websites, raising the number to 131 sites. It has added nine domains to its list with "signs of fraud": bitcoinmarketscap.com, bitcointraderspro.com, coinsmex.com, crypto-sfs.com, etc-markets.co, fisherih.com, ltc-markets.com, stsroyal.com, and tdscapitalgroup.com. According to the agency, the updates come after people in Belgium reported being scammed from the sites. The scammers promise quick riches to consumers, which victims believe, but are then unable to recover their funds. –COIN DESK       A MESSAGE FROM DATASTAX Scale Out, Don't Stress Out. Ensure your Database is Holiday-Ready. The holiday rush is about to begin—and in 2019, it's expected to be the biggest spending season ever. Learn more about why holiday sales success starts with your underlying database.  Read the holiday database report.   5. The Malta Financial Services Authority (MFSA) has warned of a Bitcoin scam that has similarities to a repeat offender. The agency has urged the public to be cautious of an entity known as Bitcoin Future, claiming that its characteristics are similar to a separate scam going by the name of Bitcoin Revolution. The statement adds that the scams reappear on the web as adverts with different names to avoid detection. –MALTA FINANCIAL SERVICES AUTHORITY       6. Investment strategist William Peets has said in a video interview that there is a major underestimation of the deflationary impact of crypto and the blockchain on global finance. According to Peets, the finance sector is ready for disruption by the crypto industry, adding that the technology will take away the power from traditional financial services. –REAL VISION FINANCE       7. Crypto exchange Binance is adding support to two tokens: Neo (NEO) and Cosmos (ATOM). Yesterday, the platform announced that it would list the two coins on October 31, both of which are among the top 20 altcoins, according to CoinMarketCap. Per the news, Neo hasn't seen much change in price and is currently trading at $10.54; however, Cosmos is up by over nine percent in a 24-hour period and is valued at $3.29. –BINANCE       8. A pilot project by Peruvian chain Wong Supermarket will use the blockchain to enable consumers and suppliers to scan the supply chain of meat products. The app will be using JPMorgan's permissioned blockchain platform, Quorum and will be available in 20 different Wong stores. All products will carry the SUKU logo, which is also a Silicon Valley-based supply chain company. This logo will guarantee that the products have been tracked from the animal to the shelf. –COIN DESK       9. Sygnum, a Swiss crypto bank, has received a banking license to offer its services in Singapore. Having received the license from the Monetary Authority of Singapore (MAS), Sygnum can now offer its first product, a multi-manager fund, which will allocate investments across a portfolio of managers. This will soon be available in Switzerland to qualified investors. –SYGNUM       10. A new survey has found that Italians rank Bitcoin as a preferred payment method rather than Mastercard or Visa. The survey, by SEMRush, a marketing analysis company, listed Bitcoin in third place behind PayPal and PostePay, an Italian prepaid cash card provider. It found that Bitcoin was used 215,800 times each month compared to American Express at 189,000 times. –THE NEXT WEB       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).       Ad Start listening with a 30-day Audible trial and your first audiobook plus two Audible Originals are free. Visit audible.com/insidenews

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