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Bitcoin News Summary – December 30, 2019

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Google-owned video giant YouTube had erroneously removed several cryptocurrency-related videos. YouTube representatives have claimed that the removals were done in error and some content has started to be restored. Nonetheless, the unilateral nature by which YouTube videos were removed has led many content creators to explore migration to decentralized video hosting alternatives.

At the same time, this wasn’t the only sudden and unexplained ban that Google issued this week. Ethereum wallet and decentralized app browser Metamask’s android client was banned from the Play app store. The MetaMask team attempted to appeal the decision but it was promptly rejected. 

Tencent, the Chinese internet giant, and owner of WeChat, is forming a team to explore possible new use cases for cryptocurrencies. The new team will look at how to use digital currencies in its payments platform and how they could be used within existing and future regulatory regimes.

Japanese e-commerce giant Rakuten now allows users to convert their loyalty points to Bitcoin, Ether and Bitcoin Cash. Rakuten said the move is aimed at reducing the barriers of entry into cryptocurrency trading.

Bitcoin weekly trading volumes on the LocalBitcoins peer-to-peer trading platform have hit new all-time highs in Venezuela and Argentina. P2P trading volumes in Argentina started setting records after regulators decided to limit and ban buying Bitcoin. Venezuelan citizens, on the other hand, apparently use Bitcoin to escape the extreme inflation of the bolivar.

Before we conclude, this week’s “Bitcoin quick question” is can I receive bitcoin when my computer or mobile phone is powered off?

The answer is yes, you can. The bitcoins will appear next time you start your wallet. Bitcoins don’t really exist on your wallet, they are in fact only a record on a public ledger that is shared between all the wallets on the network. If you are sent bitcoins when your wallet is not running, once you open it up it will update its own records with any transactions it did not already know about, and the bitcoins will eventually appear as if they were just received in real-time. If you want to learn more about how this works check out the link in the description.

Have a question you want us to answer? Just leave it in the comment section below.

That’s what’s happened this week in Bitcoin. See you next week.

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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12 comments on “Bitcoin News Summary – December 30, 2019”

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    1. Hi Ben,

      Well, you don’t exactly have a private or public key; Coinbase has those as they are in possession of your coins. While you can get a public key / Bitcoin address from Coinbase which you can use to deposit more BTC to your Coinbase account, you will never be able to get the private key to that address, meaning it’s not truly yours.

      In order to get your own Bitcoin address controlled by a private key which is uniquely yours, you’d need to withdraw the BTC from Coinbase to your personal Bitcoin wallet. See our “Get a Wallet” section up top for some more help on selecting a personal wallet.

      It’s usually recommended to store your own coin, as this is generally safer than entrusting them to an exchange. Of course, that is only true if you know what you’re doing when it comes to choosing a legit wallet and using it properly. Take the time to do the proper research and you can enjoy being your own bank.

    1. Hi Maxwell,

      Well not directly, no. It is possible to send Bitcoin via email, I believe Coinbase has taken out a patent recently on a method for doing so, but honestly it’s better to just use a Bitcoin wallet. As for Facebook, I believe they have a payment service integrated into their site but I’ve never used it. I wouldn’t trust Facebook with my money quite frankly.

  1. Hi Nate, do you know of any problems BC managers may have with paying out investors? The person that I invested with paid out profits for a period, but now claims that they have several problems with blockchain transactions. Apparently, they implemented a payroll system bcoz the no of investors increased. Now payments are a mess. All they say is that profits will be paid as soon as the glitches are sorted. Do you have any comments for me?

    1. Hi Lourens,

      I’m not familiar with BC Managers and can’t seem to find the correct info from a search. Could you tell me more about them?

      It sounds somewhat suspicious however. I can’t really say more without knowing about the service however.

      I would suggest checking out our guide to spotting scams and seeing if anything stands out with how BC Managers operates:

  2. Does anyone know the trading cryptocurrencies the binary option way 1m 5 mins 15 mins. Is it legit or a scam. Thanks.

    1. Not a scam at all mate, I used Crypbitx 2 years ago and is very good cryptocurrency trading platform for trading.

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