This week we learned that Deutsche Börse “Deep at Work” on Bitcoin and John McAfee predicted bulls’ billions will soon be pumped by institutional investors, despite the current cool market. These stories and many more were covered in this week’s daily editions of Bitcoin in Brief. And the most commented on story of the week talked about a guy living is his car while working two jobs just to invest in crypto.
New EU Rules Kill Another Crypto Venture
You could not have missed the impact of the EU’s General Data Protection Regulation (GDPR) which came into force this week, not with all the emails you must have received from any service that has ever had access to your address. However, one might have not known that the new regulations also had severe consequences for some services that had to shut down.
On Monday we reported that team behind Parity Technologies, the developers of the Parity multi-signature wallet, have announced that due to GDPR they are shutting down PICOPS, a service used by ICO campaigns to comply with KYC/AML regulations by validating that the owner of an Ethereum wallet has already passed an ID background check.
Crypto Revolution Reshaping Global Politics
The intersection of politics and cryptocurrency was our main focus on Tuesday. We reported that Iranian and Russian lawmakers are jointly examining the idea of using cryptocurrency to bypass international and American sanctions. And in the US, Congressional candidate Brian Forde raised $100,000 in cryptocurrency donations, and an opponent attacked him for this, referring to his donors as “bitcoin speculators that oppose cracking down on drug deals and human trafficking.”
We also reported that Vitalik Buterin has co-written a short manifesto of sorts with the young political economist Glen Weyl, unapologetically titled “Liberation Through Radical Decentralization.” In it they explain how the cryptocurrency ecosystem is suited for developing and testing new models for governance, voting and more, in a way that can fundamentally change how both democracy and capitalism work.
McAfee Predicts Bull Run as Crypto Markets Dip
John McAfee’s prediction of a bull run on the cryptocurrency markets in the near future was one of the most discussed issues on Wednesday. Billions will be pumped by institutional investors, the internet security expert expects. McAfee claims this will lead to significant changes in the market capitalizations of the leading cryptocurrencies, but also those of most altcoins.
“Institutional investors are preparing to enter the cryptocurrency market with a vengeance,” McAfee said. He explained that they are generally long term investors that will spend billions on the market. “Expect the top ten coins to go through the roof fairly quickly. The bulk of altcoins will soon follow,” the software guru wrote. Admitting he had no more information than his followers, John McAfee advised them to check the recent news and use their heads.
Main Street Adopts Bitcoin Ahead of Wall Street
On Thursday we reported that Deutsche Börse AG, the group which operates the Frankfurt Stock Exchange, is actively examining its options for launching cryptocurrency derivatives. This was revealed by Jeffrey Tessler, CEO of the post-trade services provider owned by Deutsche Börse Clearstream and member of the group’s executive board. And changes to the Volcker Rule give Americans a new reason for moving their money away from big banks to cryptocurrencies, according to the latest analysis by Weiss Cryptocurrency Ratings.
Luxury Jets, Cheap Air Tickets Offered for BCH
The growing number of bitcoin cash adoptions has been in the headlines on Friday. White Company, founded by former executive at Formula 1 and LVMH, Elizabeth White, which offers high-end products and luxury brands, including fine watches and sports cars, has become the latest business to accept BCH payments. And the online travel agency Cheapair.com has also announced it started accepting bitcoin cash for booking flights and hotels.
Man Goes All In on Crypto
The most commented on story of the week talked about a guy living is his car while working two jobs just to invest it all in crypto. The Canadian man explains that he parks his car in his friend’s garage to sleep, for which he pays $40 CAD per month. Despite the cramped conditions, he hasn’t forgone all home comforts, finding space to squeeze in a memory foam mattress and comfy quilts. He’s also able to shower at a friend’s house and store some items there. As for his crypto portfolio, the unnamed Canadian is currently pinning his hopes on Collosusxt, Fundrequest, Policypal, and Dero.
This Week in Bitcoin Podcast
To make sure you didn’t miss any big bitcoin news this week, listen to the following podcast:
What other stories everyone in the bitcoin world must have read this week? Share your thoughts in the comments section below.
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