💵 Today's Crypto Updates: February 13th 📈

phil917 (51)in #bitcoin • 7 years ago

Today's Crypto Updates

Is There a Correlation Between Bitcoin and Stock Market? Yes, But No
BitGrail’s Francesco Firano Interviewed About Stolen NANO Funds
News Site Gives Users ‘Choice’ To See Ads Or Mine Crypto To Support Company
Hacked Exchange Coincheck To Be Sued By Traders For Freezing Funds

Summary Of Today's News:

Bitcoin is becoming more of a mainstream asset. BitGrail's disgraced owner is trying to cover his ass. Mine crypto to avoid seeing ads in the future? Hacked Japanese exchange gets sued for locking up funds. Read all about it below!

1. Is There a Correlation Between Bitcoin and Stock Market? Yes, But No

Source: https://cointelegraph.com/news/so-is-there-a-correlation-between-bitcoin-and-stock-market-yes-but-no

Key Highlights:

"On Monday [February 5] what we saw is all risk products sell off," Harvey said Wednesday on CNBC's "Fast Money." A hit on the market, in his opinion, can cause investors to panic and begin selling Bitcoin as well
...Investor sentiment can carry over from the stock market to the Bitcoin market. Because of a mainstream adoption wave that has seen Bitcoin accepted as an investable asset, there is the beginnings of a crossover.

Crypto Phil's Take:

I think the major takeaway here is that many are beginning to believe that Bitcoin, and therefore Cryptocurrencies in general, are starting to become more and more mainstream. This is only good news for prices as far as I'm concerned.

2. BitGrail’s Francesco Firano Interviewed About Stolen NANO Funds

Source: https://cointelegraph.com/news/its-impossible-to-refund-the-stolen-amount-interview-with-bitgrails-francesco-firano

Key Highlights:

BitGrail froze trading on Thursday, Feb. 8. The exchange stated that 17 mln Nano had been stolen in the hack, an amount worth about $187 mln at the time the losses were discovered.
"...It's impossible to refund the stolen amount."

Crypto Phil's Take:

Francesco Firano continues to be a thorn in the side of NANO. I think this guy is completely full of shit. I've seen a mountain of evidence pointing to poorly coded exchange issues that lead to double withdraw and double deposit issues. Which in turn lead to a ton of missing NANO. Now it seems like he's trying to lay the blame at NANO's feet.

3. News Site Gives Users ‘Choice’ To See Ads Or Mine Crypto To Support Company

Source: https://cointelegraph.com/news/news-site-salon-gives-users-choice-to-see-ads-or-mine-crypto-to-support-company

Key Highlights:

American news outlet Salon is now offering visitors the bizarre option of either disabling their ad blockers or allowing Salon to access a visitor’s “unused computing power”, a veiled way of apparently asking users to allow Salon to mine cryptocurrency via the user’s computer.
If a user decides to opt-in to the Suppress Ads beta option, the user’s unused processing power will then be used by Salon to run calculations, a process described by the publication as similar to “borrowing your calculator for a few minutes to figure out the answer to math problems, then giving it back when you leave the site.”

Crypto Phil's Take:

Interesting stuff! Are we finally looking at a possible way for content sites to make money without resorting to tons of ads? It's a really interesting concept and honestly gives me hope for the future. This is a real world benefit of cryptocurrencies unfolding right before our eyes.

4. Hacked Exchange Coincheck To Be Sued By Traders For Freezing Funds

Source: https://cointelegraph.com/news/hacked-exchange-coincheck-to-be-sued-by-traders-for-freezing-funds

Key Highlights:

Ten cryptocurrency traders will file a lawsuit at the Tokyo District Court on Thursday, Feb. 15, against crypto exchange Coincheck over the company’s freezing of crypto withdrawals
The Japan-based exchange had frozen all withdrawals after they lost $530 mln in NEM in a hack last month.

Crypto Phil's Take:

I feel for the people with funds locked up in an exchange. However the optimist in me is hoping the funds are locked for the reasons the exchange states, to ramp up the security of the site so that a hack like this doesn't happen again.

Got some news worth sharing? Post it in the comments down below!