Bitcoin in Brief for Wednesday is a potpourri of quickies to get your day going: Pornhub, a website we’ve never heard of, has joined the crypto revolution (well, Verge at least); South Korea’s loss is Switzerland’s gain; bitcoin blamed for every crime under the sun; Ethereum’s Vitalik Buterin is accused of favoritism; and bitcoin cash (BCH) is getting a ton of love from CNBC’s Brian Kelly.
Also read: Bitcoin in Brief Tuesday: The Tax Man Effect
We’ve Never Heard of Pornhub, What’s Pornhub?
“The adult entertainment titan has announced it will now accept payments in anonymous cryptocurrency Verge (XVG),” according to Hard Fork. “This means now you now have the option to pay for your premium subscription without leaving any trails.”
Pornhub’s VP explained, “Here at Pornhub, we’re all about convenience and security, which makes cryptocurrency an attractive form of payment for us. We’ve been looking at crypto for quite some time and, while overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.” Dirty birds.
As South Korea Clamps Down, Foreign Markets Pick up Slack
The funny thing about cryptocurrency is, a government arrogant enough to believe it can regulate mathematics probably also won’t understand how they’re essentially robbing themselves of commerce. If the people want crypto, there’s going to be a steady supply to meet that demand.
Reuters reports, “Six months after South Korea banned the issuance of new cryptocurrencies, they are starting to creep back into the country by using overseas listings for local trading,” as initial coin offerings (ICO), which the country banned outright, have been popping up geared at the South Korean investor. Switzerland is there to help.
Of Course, Before Crypto, Crimes Were Never Committed With Fiat
Since its inception, cryptocurrency has been a target of mainstream media outlets. They constantly, maybe unknowingly, undermine it by linking all ills to bitcoin (usually). In Taiwan, it appears gangsters looking for a fast buck in crypto won’t take any excuses, even if your home country (China) bans the practice outright. They’ll shoot you, and then turn themselves in later.
“Vitalik on Brink of Second Bailout for Friends”
Accusations abound on the Twittersphere about how Ethereum’s guru has taken to a kind of bailout, citing a Tweet claiming, “And.. EIP867 titled ‘Standardized #Ethereum Recovery Proposals’ is now merged in. The frozen parity funds from 2017 are 1 step closer to being bailed out,” leading to charges of centralization and favoritism.
Defenders chimed in, “To call it a bailout is intellectually dishonest. There was a bug, funds got stuck. A software engineer will find a way to resolve the problem, rather than claim it’s a feature and ignore the people the code is supposed to serve. Choose to be an engineer first, not a politician.”
Mr. Buterin himself shot back, “To say that Vitalik is on the brink of being okay with it is also incredibly intellectually dishonest.”
Ripple in Peace
A sad, curious statement was released, detailing how “Billionaire Matthew Mellon, 53, died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility. Mellon made his fortune in cryptocurrency, turning a $2 million investment into $1 billion. He is survived by his three children, Force, Olympia and Minty. The family asks that their privacy be respected at this very painful time.”
Fox News is reporting Mr. Mellon, an early Ripple booster, explained two years ago “‘OxyContin is like legal heroin. And it needs to be addressed,’ while at a Malibu treatment center kicking a habit of $100,000 a month.”
Now That is a Great Point
Regarding the ongoing Facebook privacy problem, Leo Weese has put it best: “Amazing how people suddenly realize they don’t own their data on Facebook. Let’s see how they react when they find out they don’t own the money in their bank accounts either!”
And in related news, New York Times’ Nathaniel Popper is reporting Cambridge Analytica was looking into their own crypto coin along with an initial coin offering (ICO) prior to the Facebook-related scandal breaking.
Bitcoin Cash Getting Love from CNBC, Zimbabwe, and Free Stickers!
Fast Money’s Brian Kelly is signalling a strong buy for bitcoin cash (BCH). He’s claiming to rely on “technical indicators” that show BCH poised for a potential breakout and increasing volume. With increasing volumes, traders are keen to see “something” happen in a positive direction for the digital asset.
We reported Zimbabwe’s latest crypto acquisition, an ATM, and it appears now the owner has activated bitcoin cash to go along with bitcoin core. Hopefully, these alternatives serve as a currency oasis in a pretty dry market.
Finally, bitcoin cash enthusiast Bittburger announced BCH stickers for those who’d like to help spread the word about the best form of money ever devised. Free!
Do you think bitcoin cash is poised for a price breakout? Let us know in the comments section below.
Images courtesy of Shutterstock. Special thanks to Kai Sedgwick and Avi Mizrahi for sourcing.
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