Bitcoin Rising, Satoshi Discoveries and Google Enters the Race: Bad Crypto News of the Week

Bitcoin Rising, Satoshi Discoveries and Google Enters the Race: Bad Crypto News of the Week

By stvleong | Steven Leong | 4 Jun 2020


It’s been a strange week for BTC as we move forward in our new mining rewards era. The price ends the week down but a late rally has pushed it back over $9,000. Technical analysts expect Bitcoin to continue rising based on the liquidation range of short positions, a discussion of cryptocurrency in Goldman Sachs’s client call, and a lack of funding in the futures market. On the other hand, if ratings agency Weiss is right, more than 21 million Bitcoins may now be in circulation. The agency, known for controversial opinions, blames leverage in agencies.

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Google's entry into the blockchain space may be helpful in soaking up some that's supplying extra if it does exist. Theta Labs, the blockchain company has partnered with Google Cloud to let users deploy and run nodes. Google Cloud will also serve as a validator to Europe. Google's Chrome, on the other hand, faces heavy competition from crypto-powered Brave. The browser now offers video calls as the telegram messaging service seals its departure from the open network telegram. Now TON stands for "Open Network."

While Google is preparing to validate, other owners of Bitcoin have in-validated. They used 145 addresses to call Satoshi pretender Craig Wright "a liar and a fraud." Wright had claimed the addresses were controlled by him. Perhaps they just should have asked Wright if he owned a Mac. Laszlo Hanyecz, the "Bitcoin pizza man" who was collaborating with Satoshi to create Bitcoin, said Satoshi worked only on Windows. In an interview with Chainalysis, Kenneth Blanco, director of the US Financial Crimes Compliance Network (FinCEN), cautioned against bad actors as well as rogue nations hijacking blockchain technology.

Crypto-enthusiasts could soon control the Fed, though. President Trump's nominee for the board of governors of the US Federal Reserve, Judy Shelton, spoke with a side of cryptocurrency about a return to a gold standard. Many national banks tend to shift similarly. The Bank of Lithuania has completed research on its blockchain, LBChain project. The House of Representatives of Antigua and Barbuda has passed a bill that will begin to make the region an amicable place for digital assets. China, too, looks set to promote its digital currency, DCEP, backed by the country's central bank, as a rival to the US dollar.

Private industry keeps warming up to the blockchain, too. Household goods manufacturer LG has joined the board of directors of Hedera Hashgraph. Hedera wants to build an enterprise-grade blockchain platform for the benefit of businesses and consumers. To cash in on the rise of hedge fund and macro investors in cryptocurrencies, Coinbase is buying Tagomi brokerage. In the online entertainment world, CryptoKitties maker Dapper Labs is swapping cute digital cats for digital basketball cards that can be collected in a deal with the NBA. PornVisory wants to give users tokens to watch porn!) (And Minecraft is giving a new kind of mining to crypto-currency. The plugin EnjinCraft now allows players to integrate the Minecraft assets based on blockchain. That's a whole different sort of reward from mining.

 

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stvleong
stvleong

I'm a Digital Marketing Lead | Crypto Trader | Affiliate Marketer and love to write posts related to crypto and anything that is interesting.


Steven Leong
Steven Leong

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