Here’s what happened this week in Bitcoin in 99 seconds.
Bitcoin hit a new yearly low just below $3,300. Altcoins fared even worse, with Ethereum falling below $90 and Ripple below 30 cents. The total crypto market cap stands at $108 billion with Bitcoin’s value comprising 55% of that figure.
The G20 member nations agreed to further regulate cryptocurrencies to prevent money laundering and terrorist financing. The G20 nations resolved to realize the technology’s benefits while mitigating its risks. Plans were also made up to increase taxation of the digital economy.
Following the G20, the U.S. Department of the Treasury called for increased global oversight of crypto.
Bitcoin’s mining difficulty saw its second largest decrease ever this week. Difficulty fell by roughly 15% to around 41 exahash per second. It’s clear that the price fall is causing some miners to turn off their machines.
The US SEC (Securities and Exchange Commission) has once again delayed the approval of a Bitcoin ETF. The VanEck ETF has until late February to receive approval.
A poll by job site, Humans.net, revealed that 38% of US-based freelancers regularly use cryptocurrency. 1,100 freelancers were surveyed, with the highest perceived benefit of crypto being its suitability for international payments.
Finally, it was reported that KFC in Venezuela’s capital is set to accept Dash payments for food. A single restaurant in Caracas will be first to accept Dash, before 24 more locations around the country.
That’s what happened this week in Bitcoin. See you next week.
Jeez, Nate, how can you even say some of that stuff with a straight face? Yes, yes, yes, I know, you’re just acting as a newsreader, but seriously. “Money-laundering and terrorist financing” ?
Point one,that’s not happening to any notable degree now.
Point two, the biggest terrorist organisations in the world were all *there* at the G-20.
The news you are reporting is as far divorced from reality as if you were solemnly informing us that the tooth fairy’s press secretary has said she will now be paying off in Monero. You have to know this. How about letting us see that you know?
Hey Redpossum, thanks for the critique, I appreciate you speaking your mind.
Basically what we’re doing is collecting news stories from around the world and congest them into a 99 second video. We try to keep our sources as reputable as possible.
For example, the G-20 story came from here: http://saudigazette.com.sa/article/549293/World/America/G20-nations-agree-to-reform-WTO-in-joint-declaration
I agree that in these days it’s hard to find news that objectively reflect reality, but that’s one of the main reasons we’re not a news site, we’re more of beginner’s guide oriented site.
So yes, you could sometimes protest that something we’ve picked up is “fake news” and I completely respect that opinion. However, unlike our guides (which are meticulously researched), our news section is more of a “here’s what other sites said in an easier to digest format”.
Keep us up and alert! 🙂
The only thing I’m suggesting you do differently is show a little skepticism when reporting the more outrageous lies; maybe shake your head, roll your eyes, interject a little sigh. Let me explain why–
You do a great job as a beginner guide site. The 7-part intro series was hugely helpful to me, and I shared it with a friend. But the struggle for widespread adoption of crypto is a war for hearts & minds. As a beginner’s site, you help form the first impression of crypto in the minds of those beginners. Do you want a beginner to go away thinking that “Ofir Beigel at 99bitcoins says crypto is used for money laundering and terrorist financing” ?? Because that is *going* to be their take-away given the way you currently report these stories. To most people, objectivity is dead. To most people, if you repeat the story, you endorse the story.
Ofir, I like you, I support you, I respect you and your knowledge. My impression of you and the site is 100% positive. But I’m an old fart of almost 60. I grew up in an older age of the world. I take the time to read carefully, and I understand objectivity. When I was young, “news” meant Walter Cronkite, for the love of god.
And I live in Buenos Aires. During the G-20 the armored barricades were a block and a half from my front door, and there were 15 cops on the single block in front of my apartment building, 12 of them military police. I saw the G-20 up close and it was ugly, like a gathering of mafia chieftains with their legions of sicarios. Those people have NO moral right to tell us what we can and cannot use as a medium of exchange.
You’re doing great work, and I never meant to imply otherwise, please forgive me if I came off that way.