🌕 Today's Crypto Updates: February 11th 📈

phil917 (51)in #bitcoin • 6 years ago (edited)

Today's Crypto Updates

US: Arizona Senate Passes Bill To Allow Tax Payments In Bitcoin
BitGrail Exchange Asks Devs of ‘Stolen’ Coin To Alter Ledger To ‘Cover Losses’
A Pair of British Entrepreneurs Sold 50 Luxury Flats For Bitcoin In Dubai
Binance Vs. McAfee: Hack Rumors Controversy

Summary Of Today's News:

Cryptocurrency adoption in both governments and real estate businesses. BitGrail "hack" drama continues. John McAfee gets bodied on Twitter. Read below for more details!

1. US: Arizona Senate Passes Bill To Allow Tax Payments In Bitcoin

Source: https://cointelegraph.com/news/us-arizona-senate-passes-bill-to-allow-tax-payments-in-bitcoin

Key Highlights:

The Arizona Senate passed a bill on Feb. 8 to allow residents in the state to pay their taxes with cryptocurrencies, public records indicate.
If the bill is adopted, Arizona would become the first state in the U.S. to accept cryptocurrency tax payments by the year of 2020

Crypto Phil's Take:

Very bullish news for cryptocurrencies. Government adoption is always good for gaining adoption and legitimacy.

2. BitGrail Exchange Asks Devs of ‘Stolen’ Coin To Alter Ledger To ‘Cover Losses’

Source: https://cointelegraph.com/news/bitgrail-exchange-asks-devs-of-stolen-coin-to-alter-ledger-to-cover-losses

Key Highlights:

Suspicion is growing around Italian cryptocurrency exchange BitGrail after its owner seemingly asked for a coin’s ledger to be changed after the exchange reported funds were missing Thursday, Feb 8.
“...Firano informed us of missing funds from BitGrail’s wallet. An option suggested by Firano was to modify the ledger in order to cover his losses — which is not possible, nor is it a direction we would ever pursue,” Nano wrote in a Medium post.

Crypto Phil's Take:

BitGrail exchange is awful and the request made by the owner shows the steps this guy is willing to take to cover up his mess ups. Thankfully the NANO team did the right thing here and contacted the relevant authorities immediately.

3. Binance Vs. McAfee: Hack Rumors Controversy

Source: https://cointelegraph.com/news/binance-vs-mcafee-hack-rumors-refuted-cryptocurrency-trading-resumed

McAfee sure does love FUD

Key Highlights:

For more than 24 hours, Binance, the world’s largest cryptocurrency exchange, was down due to a server issue on Feb. 7. On Feb. 9, Binance resumed trading after successfully rebooting its server.
John McAfee, a security expert and a well-known public figure in the cryptocurrency space, continued to fuel controversy around Binance and rumors of hacking attacks
Immediately after McAfee released several statements on the issue, the Binance team ... refuted the rumors
Binance went as far as to transfer funds from its cold wallet to hot wallet to show that the exchange was not hacked.

Crypto Phil's Take:

McAfee was spreading a lot of FUD and he got smacked on Twitter by Binance. That being said, I'm glad to see Binance fully up and running again. The last thing we need is a Binance hack.

4. A Pair of British Entrepreneurs Sold 50 Luxury Flats For Bitcoin In Dubai

Source: https://cointelegraph.com/news/a-pair-of-british-entrepreneurs-sold-50-luxury-flats-for-bitcoin-in-dubai

Key Highlights:

Two entrepreneurs from the UK ... have sold 50 luxury apartments in Dubai that they originally promised to put on offer for Bitcoin
The pair originally pledged to sell 150 apartments for Bitcoin, which was the "first major development of this size" to be available for purchase in a digital currency.

Crypto Phil's Take:

Just a show of further adoption of cryptocurrencies around the world. Expect news like this to become the norm within a few years. What's your take? Let me know in the comments down below!