Thursday, February 27, 2020

BoJ: better under of CBDCs needed / SEC charges actor Steven Seagal / Iran calls for crypto use to avoid sanctions

Inside Bitcoin.
Presented by
Subscribe | View in browser

Dear Subscribers,

Over the next few weeks, we at Inside.com will be moving our newsletters over to a premium model. This means that for all you crypto lovers, most of the Inside Bitcoin newsletters you, hopefully, find interesting, entertaining, and informative, will only be made available to paid subscribers.

So why the move? Well, even though you might not see us, behind each newsletter is a human, and it is this human's responsibility to find the best crypto news for your newsletters.

In order to keep the brilliant writers we have at Inside.com, I am kindly asking for a contribution of around $2 a week, or $100 a year. By becoming a paid subscriber to Inside Bitcoin, you will receive your newsletter five days a week (Monday-Friday) advert free. Our free subscribers will still continue to receive Friday's addition at no extra cost.

I hope you will continue with Inside Bitcoin as it is a joy for me to do, and I hope it's of value and interest for you all too.

Click here to upgrade to premium!

Thank you for supporting Inside Bitcoin, and I hope to see many of you enjoying the paid subscription newsletters.

Rebecca

Market Watch: Coin prices across the board are down today. Bitcoin is trading just under $9,000 as it drops nearly four percent in 24 hours.

  • Bitcoin: $8,852 (⬇️ 3.83%) // $161.4 billion market cap.
  • Ethereum: $229 (⬇️ 3.65%) // $25.2 billion market cap.
  • XRP: $0.238 (⬇️ 1.59%) // $10.4 billion market cap.
  • Bitcoin Cash: $325 (⬇️ 0.09%) // $5.9 billion market cap.
  • Top 100 Winner: WAX: $0.044 (⬆️ 16.98%) // $46 million market cap.
  • Top 100 Loser: Aion: $0.154 (⬇️ 22.88%) // $60 million market cap. 

Prices are as of 15:15 p.m. ET.

1. Bank of Japan deputy governor Masayoshi Amamiya has said that central banks should have a better understanding of the risks and benefits of releasing their own central bank digital currencies (CBDCs). According to Amamiya, by issuing their own CBDCs, central banks could streamline settlements and aid private sector money flows. At the same time, though, he added that such a measure could hinder private-sector financial innovation, adding "when countries consider issuing central bank digital currencies, they must conduct a comprehensive study on how it affects their settlement and financial systems." -COIN TELEGRAPH

2. The U.S. Securities and Exchange Commission (SEC) has charged actor Steven Seagal for promoting an initial coin offering (ICO) and failing to report that he was paid for it. In 2018, Seagal was contracted by ICO project "Bitcoiin2Gen" (B2G). At the time, an announcement said that the martial artist was "obvious as brand ambassador," adding that Seagal had "become a believer of Bitcoiin2Gen." Today's notice from the SEC states that the actor didn't disclose that he was offered $250,000 in cash and $750,000 worth of B2G tokens in exchange for his services in promoting the ICO. It goes on to note, however, that the company only paid Seagal $157,000. The SEC maintains that he broke the anti-touting provisions of federal securities laws and has agreed to pay $157,000 in disgorgement, in addition to a civil money penalty of $157,000 to the SEC. -FINANCIAL TIMES

A MESSAGE FROM VIRTWAY

Virtual 3D Business Events: Cutting costs and sky-rocketing results with Virtway Events’ Technology

Traditional events are expensive, time-consuming and their environmental cost is high. Virtway Events' 3D technology is invigorating corporate events of all sizes allowing people to connect with a personal device, network in real-time and engage in a life-like way. Meetings, conferences or fairs, the possibilities are endless.

Ask For a Free Demo Now!

3. Throwback Thursday: Dorian S. Nakamoto

In March 2014, Dorian Nakamoto became the face of Bitcoin following a report from Newsweek, which falsely claimed that he was the creator of Bitcoin after stating that Satoshi Nakamoto was his birth name.

The report, which served as the magazine's front cover at the time, and followed after a two-month investigation, claimed to have uncovered the true identity of the person behind the number one crypto asset.

Shortly after, the community quickly came to the conclusion that Dorian wasn't the fact behind Bitcoin, in part aided by the denials from Dorian himself. Following the report from Newsweek, it was reported that a campaign had been launched to fund legal action against the publication.

The fundraising site is still up, but doesn't specify how much has been raised - or what Nakamotot has done with the donations.

4. Saeed Muhammad, an Iranian general of the Islamic Revolutionary Guard Corps, has reportedly called for the use of crypto to avoid sanctions. According to a speech given yesterday, the general said that Iran should look to cryptocurrencies to improve international investment despite sanctions placed against it. According to reports, Muhammad said: "We are demanding the creation of a more sophisticated mechanism (a commodities exchange) to bypass sanctions. To circumvent sanctions, we must develop solutions such as the exchange of products and the use of cryptocurrencies with our partnerships [in other countries]." -COIN DESK

A MESSAGE FROM SALESFORCE

Drive Productivity for Enterprise Employees with Salesforce

Learn how savvy IT departments can provide better workplace technology as the key to improving employee experience and driving organizationwide growth.

Learn More

5. Chamath Palihapitiya, chair of spaceflight company Virgin Galactic, a supporter of crypto, has said in an interview that "everybody should have 1% of their assets in bitcoin specifically." Speaking on CNBC's "Squawk Box" yesterday, the billionaire investor went on to say that he disagreed with Berkshire Hathaway chair Warren Buffett, who claims that crypto has "no value." However, the former senior executive at Facebook doesn't believe that events such as the coronavirus are going to push crypto into a bull market. He said: "I don't think when you wake up and see a coronavirus scare and the Dow down 2,000, you should not be going in and buying Bitcoin. That is an idiotic strategy." -CNBC

6. Crypto.com, a Hong Kong-based crypto payments provider, has announced that it is teaming up with Travala, a crypto-friendly travel booking site. In an announcement shared on the travel booking website, it stated that the partnership will see the integration of Crypto.com's payment app on Travala, providing a simple way for bookings to be made. The companies have emphasized that one million Crypto.com users will be able to access two million hotels and accommodation in 230 countries with up to 40 percent off. Travala.com will now accept CRO, the Crypto.com coin, as well as Bitcoin, Ethereum, XRP, and Litecoin through Crpyto.com Pay -COIN TRUST

7. Square's Cash App made up half of its Q4 2019 revenue from Bitcoin. That's according to a Q4 2019 Shareholder Letter. In it, it points out that Bitcoin revenue during the last quarter of 2019 amounted to $178 million, whereas revenue that wasn't Bitcoin-related totaled $183 million. For the full year, Bitcoin generated over half a million dollars in revenue, bringing in $8 million in profit. -SQUARE SHAREHOLDER LETTER

8. Bitcoin going from $3,500 to $100,000 is easier than going from $0 to $3,500. That's according to a tweet from Dan Hedl, director of business development at crypto exchange Kraken. Not everyone who responded to his tweet was in favor, however, with one user claiming that a "larger proportion of fiat [is] required to push prices higher." Another user questioned whether it was harder now considering the market isn't as young and that there are more people and financial institutions involved. -@DANHEDL/TWITTER

What are your views on this? Do you think Dan is right? Let us know your thoughts on what makes it easier for Bitcoin to reach $100,000 now compared to 11 years ago.

9. Crypto exchange Binance has provided a report detailing measures it has taken to battle the coronavirus. As of February 23, the Binance Charity has delivered 50,000 pairs of nitrile gloves, 100,000 pairs of latex gloves, 100,000 pairs of PVC gloves, 28,000 masks, 9 sterilizers, around five tons of disinfection liquid, 20,000 testing kits, and 1,000 protective suits to 116 hospitals and medical teams in multiple provinces and cities including Hubei, Sichuan, Guangxi, and Shanghai. Binance added that it has purchased 2,300 protective suits from Israel and 388 oxygen machines, on top of the 28,800 masks bought from the U.S. -BINANCE

10. Cybersecurity company Kaspersky has released a prototype version of its blockchain-based voting machine, Polys. The machine, which is from the Kaspersky Innovation Hub, aims to provide an online voting platform for companies, universities, and political parties. According to Kaspersky, this is "the first of its kind to incorporate blockchain technologies and work alongside the Polys online election system." By combining an online election system with distributed ledger technology, it provides a confirmation link between the vote and the voter. -VERDICT

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.

Edited by Beth Duckett, staff writer at Inside.

Ad

Your 3D Space for Conferences.

Ad

Empower everyone to build apps fast with low code on the Lightning Platform. 

Copyright © 2020 Inside.com, All rights reserved.

Our mailing address is:
Inside.com
767 Bryant St. #203
San Francisco, CA 94107



Did someone forward this email to you? Head over to inside.com to get your very own free subscription!

You received this email because you subscribed to Inside Bitcoin. Click here to unsubscribe from Inside Bitcoin list or manage your subscriptions.