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Bitcoin News Summary – October 8, 2018

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Here’s what happened this week in Bitcoin in 99 seconds.

China’s longest-running technology magazine, Beijing Sci-Tech Report, will accept Bitcoin payments for annual subscriptions. Starting in 2019, readers will can pay 0.01 BTC to receive the publication.

Some crypto industry research by Diar pointed to a bullish future. According to their report, venture capital inflow into crypto companies has already increased by 280% over last year. Nearly $4 billion has been raised in the year to date, with over a quarter billion going to “stablecoin” projects.

Major US exchange, Gemini, announced that – in addition to fiat deposits – crypto deposits stored on their exchange are now insured against loss. Traders and other who store coins on-exchange may find Gemini’s extra security welcome.

Bitcoin surpassed the 50% milestone for transactions using SegWit. It’s taken a little over one year for SegWit adoption to reach this point. You can usually tell that your Bitcoin address is SegWit-enabled if it begins with a “3.” SegWit use is recommended as it lowers your fees.

French startup Acinq has raised $1.7 million to continue its work on the Lightning Network. Acinq is the creator of the Éclair Wallet and its own Lightning Network implementation.

More than 1,500 Bitcoin ATMs will be installed across Argentina by the end of 2019. Demand for Bitcoin is soaring in the country as the Argentinian Peso is experiencing rapid devaluation.

That’s what 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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