The number of crypto owners is growing, bitcoin is falling — Weekly digest, June 11-15 ’18

All in this week’s news digest: EOS still has problems, Tim Draper's predictions, crypto can be a vaporware, Sesame helps kids to learn about blockchain, CFTC is taken to the court, BTC can fall to $3200 & other news.

  • The founder of Wikipedia, Jimmy Wales, gave an interview about his views on crypto. He thinks that cryptocurrencies shouldn’t be banned, but this space definitely needs regulations, as there are too much fraud and scams.
  • Despite the announced launch on June 10th, EOS mainnet is still not working properly. Nobody wants to stake and vote for the delegates as currently, it’s too risky without the proper tools.
  • Tim Draper, as always, elevates his estimates. Now, as bitcoin goes lower, he says that the first cryptocurrency will reach $250,000 by the end of the year 2022. He also added that in the timeframe of 5-7 years cryptocurrencies will replace fiat.
  • The founder of Hotmail Sabeer Bhatia says that cryptocurrencies are a vaporware. He claims that crypto is basically just a bunch of white papers without any product, bashes IOTA for not having any real use cases.
  • Peruvians developed a real use case for IOTA. A dispensing machine that connects to a truck, receives a feeless payment in IOTA and loads it according to the payment amount.
  • Sesame Workshop invests money in helping kids learn blockchain coding. The company affiliated with a famous kids show have partnered with Sesame Ventures providing $28 million to Kano, a company that provides coding kits for children.
  • The US CFTC is taken to the court by a small crypto startup My Big Coin. It’s challenged over the subject of this token not being a commodity. If the CFTC will lose this case, it could create a precedent, thus changing the whole game.
  • David Schwartz from Ripple says that banks aren’t ready yet for blockchain. He admits that the feedback from many banks about their XRP isn’t very positive.
  • CEO of Western Union says they didn’t get any benefits from using xRapid by Ripple. Asheesh Birla from Ripple explains that Western Union could see some cuts in costs if they would move all their transactions on xRapid, but the tests they made are too small to make any conclusions.
  • A study shows that over 4 years the number of crypto owners in Ireland has grown by 300%. The number of Irish crypto holders now is 120,000, and more than 180,000 have tried at least once to buy or use it.
  • Golem has released a new version of their protocol. This new version, labeled 0.16.0, contains a lot of improvements, both in network and in Golem client. Now requestors can define the specifications of the machine they want to assign the task to.
  • New McAfee report states that there’s a lot of phishing in crypto space. Many malware developers switched their focus to crypto mining trojans. McAfee is a security company currently having no connections with famous John McAfee who sold this company two decades ago.  
  • Bitcoin surges again on Google Trends. After a substantial decline in searches caused by a continuous bleeding of the market, in the last days, we see a slight rise in the number of searches related to bitcoin, mainly from South Africa.
  • Professor Dragan Boscovic from Arizona State University calls crypto a valued investment. He says that sooner or later, institutional investors will enter the market, that will encourage retail investors and drive the adoption further. Dragan Boscovic is a computer science research professor and a director of the Blockchain Research Lab.
  • Fundstrat Global Advisors stated that bitcoin could fall to $3200 but still continue its uptrend after that. They agree with analyst Tone Vays that such behavior could reflect the chart of bitcoin from 2014.
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