Welcome to Daily Cryptocurrency News Roundup 2nd Nov, 2017 edition.
Find the most important news of the day in brief along with insights. Subscribe us to stay informed.
- #1 Over One Million People Enroll in Online Crypto Class
- #2 Amazon Subsidiary Registers Cryptocurrency and Ethereum Domains
- #3 Bitcoin Price Climbs to $12,400 in Zimbabwe
- #4 Future of Digital Currency May Not Involve Blockchains
- #5 CryptoSoft seeks to make mining easy for everyone
- #6 BTC Inc. and Genesis Mining Form New Venture, Genesis Engineering
- #7 Google Kicks Malicious Bitcoin Exchange Apps from Play Store
- #8 Australian Bitcoin Scams are up 126% in a Week
- #9 India is reportedly considering exchange ban for cryptocurrencies
- #10 Credit Suisse CEO: Bitcoin the ‘Very Definition of a Bubble’
- #11 Trojan Malware Stole $160,000 in Bitcoin From Victim’s Wallets
- #12 Is $10,000 Within 2017 Possible?
- #13 Be aware of BitConnect
#1 Over One Million People Enroll in Online Crypto Class
- The advent of cryptocurrencies means “there are a whole bunch of new applications for cryptography that didn’t exist before.
- Professor Boneh “said that more than 1 million people have signed up for an online cryptography class he teaches through the website Coursera.
- The class is broken into parts, including cryptographic systems, secret keys, public keys, programming projects, and zero-knowledge.”
- A textbook authored by Professor Boneh and Vipul Goyal of Carnegie Mellon, A Graduate Course in Applied Cryptography, is freely available and frequently updated for anyone to self-learn.
The more knowledgeable people get, the more seamless will be mass adoption and more innovations we can expect.
#2 Amazon Subsidiary Registers Cryptocurrency and Ethereum Domains
- Three domains – “amazonethereum.com,” “amazoncryptocurrency.com” and “amazoncryptocurrencies.com” – were registered on Oct. 31.
- It’s not entirely clear what purpose the domain names will serve.
- Amazon may be simply moving to safeguard its brand. Back in 2013, Amazon secured “amazonbitcoin.com,” which currently redirects to Amazon’s main page – an arrangement that further suggests the protective intent of the registration.
#3 Bitcoin Price Climbs to $12,400 in Zimbabwe
- Demand in emerging markets like Zimbabwe is driving local exchange rates far above the global average.
- In 2009, Zimbabwe replaced its national currency with the US dollar but the move was not successful.
- As a result, many locals are turning to bitcoin, both because they can obtain it without cash and they can spend it outside the country.
#4 Future of Digital Currency May Not Involve Blockchains
- Directed Acyclic Graph (DAG) is a new alternative to blockchains.
- It utilises a tree, reducing confirmation times and improving security.
- Byteball is a DAG-based cryptocurrency.
- IOTA is another cryptocurrency that uses DAG organizational model.
- Check this article for more understanding.
#5 CryptoSoft seeks to make mining easy for everyone
- The application can be used to mine the most coins. It is also possible to auto-switching between coins to mine the most profitable one.
- Check out https://cryptosoft.org
#6 BTC Inc. and Genesis Mining Form New Venture, Genesis Engineering
- Mining is key to the cryptocurrency ecosystem as miners verify and process transactions on a blockchain network, such as Bitcoin, Litecoin or Ethereum.
- Genesis Engineering plans to develop and promote the expansion of the cryptocurrency mining industry in underserved markets where mining would benefit local economies.
#7 Google Kicks Malicious Bitcoin Exchange Apps from Play Store
- According to a recent report published by cybersecurity firm ESET, two malicious Android apps were recently removed from the Google Play store, as these were made to look like the official app of popular cryptocurrency exchange Poloniex in an attempt to obtain user credentials and, presumably, steal funds.
#8 Australian Bitcoin Scams are up 126% in a Week
- The Australian Competition and Consumer Commission (ACCC), an independent Australian government authority tasked to enforce consumer protection laws, has pointed to a marked uptick in bitcoin-related scams in the country. Through ‘Scamwatch’, the authority provides an overview of fraud and scam-related trends taking shape in the country by collaborating with various state and territory consumer protection agencies and other government agencies.
- In a social media post, Scamwatch pointed to 77 reports by users pointing bitcoin-related scams last week.
#9 India is reportedly considering exchange ban for cryptocurrencies
- A brief article in today’s Economic Times names an unknown government “committee” as having advised lawmakers to “close” merchants and other “dealers” active in Bitcoin and altcoins.
- No background reasoning was given for the committee’s recommendation, which comes as Bitcoin flourishes in both price and volume in India and in permissive jurisdictions around the world.
- “In the event of their closure, buyers can always head out to foreign exchanges,” anonymous experts told Economic Times, appearing confident that the cross-border alternative would be both easily accessible and free of consequences for private traders.
#10 Credit Suisse CEO: Bitcoin the ‘Very Definition of a Bubble’
- Credit Suisse CEO Tidjane Thiam thinks bitcoin is in a bubble.
- The bank chief called bitcoin’s anonymity a “challenge,” before going on to say: “From what we can identify, the only reason today to buy or sell bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble.”
- Criminal use of bitcoin is also a factor that goes against the cryptocurrency, he went on, arguing that banks “have little or no appetite to get involved in a currency which has such anti-money laundering challenges.”
- Thiam added that he expects interest in bitcoin to subside.
#11 Trojan Malware Stole $160,000 in Bitcoin From Victim’s Wallets
- A new CryptoShuffler Trojan has been discovered that steals cryptocurrency from wallets by replacing the address with its own in the clipboard of the device, reported Kaspersky Lab, which discovered the malware.
- Kaspersky Lab also advises cryptocurrency users to pay close attention and check the wallet number listed in the destination address line when making payments. They should also be aware of the difference between an invalid address and an incorrect one.
- An invalid address will be detected and the transaction will not be completed. An incorrect one will be completed and the user will lose their money.
#12 Is $10,000 Within 2017 Possible?
- Earlier today, on November 2, the bitcoin price achieved a new all-time high at $7,150, entering the $7,000 region for the first time in history.
- As did Bitcoin Cash and Bitcoin Gold, the SegWit2x hard fork on November 16 will likely cause the bitcoin price to endure a minor correction, specifically a few days before and after the fork. But, there are also minor factors that could contribute to the bitcoin price achieving the $10,000 target.
- Rumors around the Chinese government’s possibility of resuming cryptocurrency trading has resurfaced, and South Korea’s bitcoin market has been growing exponentially in the past month.
#13 Be aware of BitConnect
- Check this article for more understanding.
Disclaimer: Our views are only in good faith and should not be regarded as “investment advice” and Coin Frog cannot be subjected to any kind of liability.