Thursday, October 21

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Elon Musk tried to help explain Bitcoin to J.K. Rowling in a bizarre Twitter exchange, and said central banks have made cryptocurrency ‘look solid by comparison’, Business Insider
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Elon Musk tried to help explain Bitcoin to J.K. Rowling in a bizarre Twitter exchange, and said central banks have made cryptocurrency ‘look solid by comparison’, Business Insider

JK Rowling asked Twitter to explain bitcoin to her, and was bombarded by replies – including from Elon Musk. Rowling ultimately gave up engaging with the topic, a decision Musk supported. In the process, he took a swipe at conventional central banks, which he said had undermined their credibility and made even bitcoin “look solid by comparison.” Banks like the Federal Reserve and European Central Bank have pumped trillions of dollars into the global economy via quantitative easing programs. Many of these have been expanded in an attempt to mitigate the economic fallout of the coronavirus pandemic. Visit Business Insider’s homepage for more stories. Elon Musk intervened in a Twitter thread to attempt to explain bitcoin to J.K. Rowling, and ended up attacking ce...
Coinbase CEO Avoids Mainstream Media, Prefers YouTube, Podcasts and Blogs
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Coinbase CEO Avoids Mainstream Media, Prefers YouTube, Podcasts and Blogs

Brian Armstrong the Coinbase CEO, has joined the list of cryptocurrency executives who prefer to leverage their own blogs and platforms to distribute information to the media, as opposed to direct contact with any journalists. Coinbase CEO, Brian Armstrong noted in a tweet that company leaders seem increasingly unwilling to engage with the mainstream media and prefer to use social media platforms like Youtube, Twitter, and their own blogs. Trend I'm noticing: most execs/CEOs don't want to speak with mainstream media as much as they did even a few years ago. Our customers are on YouTube/podcasts/social media - not reading mainstream media. And companies are able to control their own distribution channels. — Brian Armstrong (@brian_armstrong) May 21, 2020 Coinbase CEO Circumven...
A crypto investor lost nearly $250,000 after his chosen fund collapsed during the coronavirus sell-off, Business Insider
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A crypto investor lost nearly $250,000 after his chosen fund collapsed during the coronavirus sell-off, Business Insider

caption Representations of virtual currency Bitcoin and U.S. dollar banknotes are seen in this picture illustration source Reuters An investor in cryptocurrency hedge funds saw nearly 99% of a $250,000 investment wiped out after his chosen fund collapsed during the market meltdown. “I don’t really know what happened,” Vlad Matveev told the Financial Times. Matveev detailed Cryptolab Capital’s explanation in a Medium blog post: the fund took a leveraged position in March, and a lack of liquidity and rejection of sell orders stopped it from pulling out when crypto prices tanked. Crypto hedge funds lost an average of 26% in March, while traditional hedge funds lost about 8%, the Financial Times said, citing HFR data. Visit Busine...
A crypto investor lost nearly $250,000 after his chosen fund collapsed during the coronavirus sell-off | Currency News | Financial and Business News
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A crypto investor lost nearly $250,000 after his chosen fund collapsed during the coronavirus sell-off | Currency News | Financial and Business News

Reuters An investor in cryptocurrency hedge funds saw nearly 99% of a $250,000 investment wiped out after his chosen fund collapsed during the market meltdown. "I don't really know what happened," Vlad Matveev told the Financial Times. Matveev detailed Cryptolab Capital's explanation in a Medium blog post: the fund took a leveraged position in March, and a lack of liquidity and rejection of sell orders stopped it from pulling out when crypto prices tanked. Crypto hedge funds lost an average of 26% in March, while traditional hedge funds lost about 8%, the Financial Times said, citing HFR data. Visit Business Insider's homepage for more stories. An investor handed $250,000 to a cryptocurrency hedge fund last summer. His investment shed almost 99% of its value during the coronavirus s...
Singapore State Investor Temasek Joins Libra Association, Facebook’s Global Digital Currency Project
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Singapore State Investor Temasek Joins Libra Association, Facebook’s Global Digital Currency Project

Singapore’s state investor, Temasek Holdings has officially been named a member of the Facebook-backed digital currency project Libra. Temasek as a portfolio value of 313 billion Singapore dollars (roughly $219 billion), making it one of the more prominent backers of Libra.      The Libra Association, an independent group based in Switzerland has also welcomed crypto investor Paradigm and Slow Ventures, a private equity firm.    Facebook, the company behind Libra, announced the digital currency initiative in 2018, which took the world by storm with its controversial project. With the ICO bubble having expanded exponentially in 2017, the public started to become aware of cryptocurrencies. Digital currency and cryptocurrency were still seen in the light of being scandalous, illicit, and u...
Visa Applies for Blockchain-Based Digital Currency Patent to Potentially Remove Physical Currency
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Visa Applies for Blockchain-Based Digital Currency Patent to Potentially Remove Physical Currency

Visa applied for a new patent application to create a blockchain-based digital currency on a centralized computer, according to a publication by the US Patent and Trademark Office (USPTO).     The patent was originally filed in November 2019, and was described as “Digital Fiat Currency.” The US dollar was mentioned as one of the fiat currencies to be used potentially, although the patent could also apply to other central bank digital currencies including the pound, yen, and the euro.    Filed by Simon J. Hurry and Alexander Pierre with the Visa International Service Association, the application noted that Ethereum could be used as a possible network for the digital currency.   The central entity computer described in the patent will receive requests with details including the serial num...
China’s WeBank Makes its First Move to Take its Blockchain Global, Partnering with Singapore’s OpenNodes
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China’s WeBank Makes its First Move to Take its Blockchain Global, Partnering with Singapore’s OpenNodes

China’s top digital bank WeBank has announced its partnership with Singaporean government-backed OpenNodes. This partnership will allow China’s FISCO BCOS blockchain platform to be brought to Singaporean academics for innovation and new initiatives. FISCO BCOS was deemed to be China’s version of Hyperledger Fabric when it was launched in 2018.      The Financial Blockchain Shenzhen Consortium (FISCO) is backed by more than 100 Chinese organizations, including Huawei, Tencent, JD Finance, and WeBank, which is partly backed by Tencent. Developed by FISCO, the enterprise blockchain protocol was the first blockchain to be supported by China’s Blockchain Service Network.   WeBank’s executive vice president and Chief Information Officer, Henry Ma said, “We seek to spur the next-generation tal...
Bitcoin on Showtime: Winklevoss Biographer Writes BTC Mining Plot for Billions
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Bitcoin on Showtime: Winklevoss Biographer Writes BTC Mining Plot for Billions

Sunday’s episode of the Showtime series Billions featured a cryptocurrency mining scheme being executed in a prep school. The Bitcoin focused episode was written by Ben Mezrich, who also wrote the book Bitcoin Billionaires which tells the story of the Winklevoss twins, the venture capitalist’s behind the Gemini crypto exchange who are reported to own about 1% of Bitcoin’s total supply between them. Mezrich teased the episode on Twitter: Billions this Sunday night... I’m not sayin’ there’s definitely gonna be some Bitcoin... I’m just saying I did happen to write the episode...I mean, just sayin’... — Ben Mezrich (@benmezrich) May 14, 2020 Beg, Bribe, Bully The episode entitled “Beg, Bribe, Bully” told the story of Gordie Axelrod, son of the shows main character Bobby Axelrod. ...
World Economic Forum Warns Leaders to Brace for Long-Lasting Global Recession as Cybercrimes Surge
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World Economic Forum Warns Leaders to Brace for Long-Lasting Global Recession as Cybercrimes Surge

The World Economic Forum (WEF) suggested that leaders around the world need to do more to ensure a quicker and more sustainable recovery for the global economy caused by the COVID-19 pandemic.      Amongst the 350 top risk professionals in the world surveyed, these risk managers expect a prolonged global recession, as a number of areas of concern were identified in the report compiled by the Forum’s Global Risks Advisory Board, Marsh & McLennan Companies Inc, and Zurich Insurance Group.   Half of the respondents expressed expected bankruptcies and industry consolidation, and failure of industries to recover, and a disruption of supply chains. The World Economic Forum published a report on the importance of blockchain in supply chain disruption amid the pandemic.    Saadia Zahidi, Ma...
Bill Gates’ COVID Conspiracy Grows In Italian Parliament, Allegations of Population Control by Political Anti-Vaxxer
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Bill Gates’ COVID Conspiracy Grows In Italian Parliament, Allegations of Population Control by Political Anti-Vaxxer

The COVID-19 pandemic has brought many subjects to the forefront: our reliance on oil, manufacturing in China, the need for digital dollars, the frailty of our global supply chain, and our lack of preparation to deal with the outbreak. However, perhaps the strangest topic online and the most unavoidable has been the conspiracy theory chasing Bill Gates and his foundation’s efforts to produce a Covid-19 vaccine. The accusations range from him directly being the cause of the pandemic, to being the head of an Illuminati like circular cabal bent on controlling the world through microchips, and now an insidious plan to depopulate the planet of billions of people. Where we Came In We are a blockchain news site, while we absolutely love discussing technologies that may appear to border on fant...