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Hodler’s Digest Feb.18-24: Top Stories, Price Movements, Quotes and FUD of the Week

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Top Stories This Week

Tesla CEO Elon Musk Compliments Bitcoin’s Structure, Sees Future With No Paper Money

Elon Musk, tech entrepreneur and CEO of Tesla, stated this week in an interview that Bitcoin’s (BTC) construction is “quite brilliant.” Speaking to advisory services and products company ARK, Musk famous that virtual forex is “a far better way to transfer value than pieces of paper.” However, Musk did indicate one of the most downsides of crypto, particularly that it’s energy-intensive computationally, however added that Tesla assets may just lend a hand result in the usage of sustainable calories in crypto. Last yr, Musk had famous that he simplest owned 0.25 BTC {that a} good friend had given him a couple of years ahead of.

Ethereum Co-Founder Vitalik Buterin Discloses Non-Ethereum Cryptocurrency Holdings

Ethereum (ETH) co-founder Vitalik Buterin this week took to Reddit within the spirit of transparency and shared an inventory of his cryptocurrency holdings. Answering an Ask Me Anything put up regarding the sharing of imaginable conflicts of pursuits in Ethereum builders’ holdings, Buterin famous that he owns “Non-ethereum-ecosystem tokens” like Bitcoin Cash (BCH), Bitcoin (BTC), Dogecoin (DOGE) and Zcash (ZEC), however the ones make-up not up to 10 p.c of all of his ETH holdings. He additionally shared that he has vital company shareholdings in blockchain analysis and building company Clearmatics, in addition to in scalability- and privacy-focused blockchain startup Starkware.

New Report Lauds Stablecoins as Key Role in Future Cryptocurrency Adoption

According to a file printed by way of California-based stablecoin startup Reserve, stablecoins are set to play a key position within the mainstream adoption of crypto applied sciences. The file, which was once offered by way of plenty of trade gamers — together with Reserve, Arrington XRP Capital and Blocktower — items an research of stablecoins that unearths that their qualities can result in the mass adoption of crypto applied sciences. Specifically, the analysis means that growing international locations with hyperinflation would be the first to undertake such cash, and that others will observe.

New Samsung Galaxy S10 Smartphone Contains Cryptocurrency Private Key Storage

The newly exhibited Samsung smartphone, the Galaxy S10, will come with garage for personal cryptocurrency keys. Samsung introduced the discharge of its new smartphone previous this week, noting that it accommodates the Samsung Knox serve as, in addition to a hardware-backed safe garage for housing personal keys for blockchain-enabled cell services and products. Before the discharge, rumors had surfaced that the smartphone may just imaginable have a blockchain keystore with an Ethereum pockets choice, however this week’s release has no point out of those rumored options.

Nova Scotia Judge Appoints Legal Representation for Crypto Exchange QuadrigaCX Users

This week, the Supreme Court of Nova Scotia has appointed Canadian regulation companies Miller Thomson and Cox & Palmer to constitute shoppers of embattled crypto substitute QuadrigaCX in long run criminal court cases. The regulation companies will act because the lead council to constitute customers of the substitute, which has confronted an unsure criminal long run for the reason that contemporary surprising demise of its founder ended in an inability to retrieve shoppers’ budget. The recommend will probably be answerable for managing communications in addition to appearing as a liaison with observe Ernst & Young. Also this week, the substitute sent its closing crypto belongings to the Big Four auditing company, with a view to start working out compensation court cases.

Winners and Losers

Despite an overly sure week for the crypto marketplace, the highest 20 cryptocurrencies noticed a pointy marketplace reversal during the last 24 hours. Bitcoin is buying and selling at round $3,823, Ethereum at $140 and Ripple at $0,30 with the full marketplace cap round $128.6 billion at press time. The most sensible 3 altcoin gainers of the week are ThoreCoin, Graphcoin and S4FE. The most sensible 3 altcoin losers of the week are HondaisCoin, Crowdvilla Ownership, Vice Industry Token.

For extra data on crypto costs, be sure you learn Cointelegraph’s market analysis.

Most Memorable Quotations

“There are a number of markets that aren’t regulated, however we nonetheless construct [derivative] merchandise on most sensible of them.”

Hester Peirce, United States Securities and Exchange Commission (SEC) commissioner, talking about approving a Bitcoin exchange-traded fund.

“The amount of misunderstanding and fallacious information that has been propagated concerning bitcoin […] has resulted in my choice to start to become more public. The system I created was designed in part to end fraud as best as that can be done with any technology. The lack of understanding […] has resulted in […] a dissemination of old scams.”

Craig Wright, the self-proclaimed Satoshi Nakamoto, in a public letter to the U.S. Commodity Futures Trading Commission (CFTC).

“Polkadot delivers what Serenity should be. Change my thoughts.”

Afri Schoeden, liberate supervisor at blockchain infrastructure company Parity Technologies.

“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.”

Tim Draper, billionaire investor and known Bitcoin (BTC) bull, talking about his imaginative and prescient of the crypto long run in 5 years.

“I think the more interesting questions there are not feasibility in the near term, but are the philosophical questions of the goodness of a system like that one.”

Mark Zuckerberg, talking about decentralized networks.

Prediction of the Week

“I see Bitcoin at a million dollars someday.” — Jesse Lund, vice chairman of blockchain and virtual currencies for IBM.

FUD of the Week

Indian Police Arrests Group in Alleged $14 Million Cryptocurrency Scam

This week, regulation enforcement officials in Mumbai, India arrested a bunch of suspects reportedly involving in a cryptocurrency rip-off that garnered them round 1 billion rupees (round $14 million). The criminal case has ended in the arrest of 4 folks, and the police notice that they’re nonetheless on the lookout for a 5th suspect. According to the police, the suspects held conferences all the way through India, promising prime returns on their funding within the so-called Cashcoin, without a purpose of paying again the cash. The defendants’ attorneys have claimed their purchasers’ innocence.

Coinbase-Supported Bitcoin Debit Card to Reportedly Shut Down in April

The Shift Bitcoin debit card is reportedly set to close down its operations in April of this yr, in keeping with a screenshot of an e-mail purportedly from the Shift group posted on Reddit this week. The card had allowed U.S. cryptocurrency exchange Coinbase customers to spend their BTC balances the usage of a Visa debit card in make a choice U.S. states. According to the e-mail screenshot, the Shift group didn’t state a explanation why for the shutdown of its product, and famous that the playing cards will serve as as customary up till April 11, 2019.

Bank of Spain Official Doubts BTC’s Ability to Solve Traditional Payment Systems Problems

An reputable from Spain’s central financial institution, the Bank of Spain (BDE), stated in a brand new file that Bitcoin won’t be able to resolve the issues recently confronted by way of conventional cost techniques. BDE’s deputy common director for monetary inventions and marketplace infrastructure, Carlos Colesa gave his opinion, which is break away the financial institution’s, additional noting that Bitcoin’s transactions processing is just too small a worth for an international device and that the approval occasions are too gradual. Colesa additionally notes that the loss of governance and coordination prevents enhancements to the device.

Best Cointelegraph Features

Crypto Crime Trends Evolving as Users Wise Up: Exchange Hacks, Darknet and Money Laundering

This week, Cointelegraph seems at the entire newest analyses of the cryptocurrency hacks and thefts, analyzing how the group and era has advanced based on ever-changing threats.

First Pension Funds Investing in Crypto — a Sign of Things to Come?

After two huge U.S. pension budget revealed their funding within the crypto house, the group has debated whether or not this can be a signal of rising adoption and institutional investor hobby. Cointelegraph lays out how this funding may just set a brand new precedent.

Ongoing Economic Crises in Venezuela and Beyond Show That the Idea of Bitcoin as a Store of Value Is Increasingly Catching On

As Venezuela’s financial scenario grows increasingly dire, the concept cryptocurrency — or Bitcoin, particularly — generally is a competing technique to retailer price has grown in possible. Cointelegraph’s newest research of Venezuela, Turkey, India, Iran and Nigeria seems for parallels and the tactics wherein crypto has confirmed to be a devoted retailer of price.

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