Mt. Gox opens rehabilitation filling system, Dot-com and BTC story continues, crypto trade blooming in Russia, 'crypto' horror movie, fiat is doomed to fail, professor sees the stablecoins fault
- Mt. Gox is on the way to rehabilitation. Mt. Gox has extended its online rehabilitation claim filing system to corporate users, after a system for individuals was released late August.
- Moscow’s local fiat to crypto exchanges and individual traders, mostly from Localbitcoins, has been proliferating in the capital. The total daily yield runs between $10 million to $50 million.
- The current state of the cryptocurrency market has seen a decline of 80 percent from its January market peak. It is comparable to the dot-com bubble burst that happened from 1995 until 2000.
- ‘Crypto’ horror movie. Alex J. Mann has shot a one-minute video dedicated to those who follow the cryptocurrency rate and summing up their experience.
- Since the founding of the Federal Reserve, the US dollar has lost 97% of its value. Unlike Bitcoin or Gold, the dollar, as with fiat currencies, is not backed by anything.
- Barry Eichengreen, Professor of Economics out of University of California Berkeley, has found fault with the concept of stablecoins and believes they do not constitute a viable future for money or other digital assets.
- Presently, the price of Bitcoin will likely fluctuate around the $6,400 price level. ETH made a bullish movement to the previous high, now it's about $204.