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Bitcoin News Summary – January 20, 2020

Block.One, the company behind the EOS ICO, will no longer be launching its new crypto-integrated social network, Voice, on the EOS blockchain. Instead, a custom EOSIO platform will be deployed. Block.One has yet to explain its about-face, although some speculate that the EOS chain is strained and unable to support a popular new app.

As the trial of BSV founder, Craig Wright, drags on; his various claims continue to be disproven. The most recent claim, that a bonded courier would deliver the private keys to a fortune in early bitcoins, has been dispelled by Craig’s own lawyer. The lawyer stated to press that Wright does not possess those private keys.

A recent survey published by HSB revealed that about 36% of small and medium-sized businesses in the USA accept some form of crypto as payment. 59% of companies surveyed said they had also purchased crypto to use in some business capacity. 505 companies were polled starting in October of last year.

The business-focused social network site, Linkedin, released a report which shows that blockchain-related skills are currently the most sought-after category by employers. Demand for blockchain skills is highest in developed Western regions such as the US, UK, Europe, and Australia. Demand for blockchain skills surpasses all other IT skills, including AI. Major corporations such as IBM, Microsoft, and Amazon are all looking for blockchain developers.

Before we conclude, this week’s “Bitcoin quick question” is what happens when Bitcoins are lost? If a user loses access to his wallet and doesn’t have a backup of his private key or seed phrase, his Bitcoins are lost forever. Lost Bitcoins still remain on the blockchain but there’s no way to access them since it’s impossible to recover the private key that controls them. A study done by Chainalysis back in 2017 suggests that somewhere between 3 and 4 million Bitcoins are already lost forever. One unfortunate example of this is James Howells, an IT worker from Newport, who unintentionally threw away his hard drive with the private key to 7,500 bitcoin in mid-2013.

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

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