You’ve heard of hyberbitcoinization: how bitcoin could one day replace hyper-inflated fiat currencies. Now say hello to its lesser companion, hypertokenization: the idea that there should be a token for everything. Like salt and pepper, tokens are best enjoyed in moderation, but if the top stories from This Week in bitcoin are an indicator, we could be in danger of overdosing.
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Coinbase’s Love Affair with Ethereum Intensifies
Coinbase CEO Brian Armstrong is a big admirer of Ethereum – that’s why he’d rather while away his time creating dapp browsers than address engineering problems like unbatched bitcoin transactions, which were credited with exacerbating high fees last year. Coinbase got round to fixing those problems eventually and belatedly introduced Segwit too. With those tasks out of the way, Brian Armstrong is free to return to his one true love: Ethereum. The exchange has confirmed that it will be adding ERC20 tokens soon, and the likeliest contenders to be listed all off the news.
One ERC20 token that won’t be surfacing on major exchanges is the petro. Bitfinex has confirmed that it with a bargepole, and has ordered its staff not to trade it either. It’s safe to assume Bitfinex staff won’t be losing too much sleep over that edict. Speaking of hypertokenization, a new study claims that 80% of all ICOs , which aptly came in the same week that Massachusetts five scammy ICOs. There’s nothing wrong with tokenization, to a point, but with ICOs now launching dual tokens, and tokens coming with their own sub-tokens (tokenception?) surely we’ve reached peak token.
When the Bulls Are Away the Bears Will Play
Mary Queen of Scots
On weeks of relentless red, it’s best not to stare too long at your portfolio. Sure, there are still ways to , but it’s hard work. bitcoin’s not even out for a three-count, , but that won’t stop the naysayers from writing it off, just as they did in 2016 and 2015 and every year before that.
Instead of fixating on cryptocurrency prices in the here and now, let’s take it back, way back, to 1586. That may seem like a primitive time, devoid of all the tech comforts we take for granted, but in 16th century Britain a primitive form of cryptography was emerging. In a roundabout way, we owe our encryption and blockchain technology to a plot to restore a usurped monarch to the throne. In a new series on Crypto History, “a 432 year-old plot to kill a queen, and how early forms of cryptography were coveted weapons in the broader battle for Europe’s very soul.”
Tantrums and Handbags
Back in the here and now, and the remainder of this week’s top stories were mostly filled with bans, lawsuits, and crackdowns, the stuff that bear markets are made of. Five Japanese crypto exchanges have , Russia and friends over internet giants , Mailchimp have also and the CLOUD Act for privacy advocates, which is all of us.
If it wasn’t for someone paying $10 million in bitcoin for Nelson Mandela’s , Brits mistaking cryptocurrency , or Cointext paving a way to send bitcoin cash , we’d have had no cause to smile since last Sunday. Even today’s spate of April Fool’s stories did little to lift spirits. When $7k? When breakout? When moon? Soon, we hope. Real soon. This will be the final Sunday edition of This Week in bitcoin, but fear not as it’s being replaced by a new feature starting tomorrow. (Here’s a clue: it’s gonna be daily, and no, we’re not calling it Today in bitcoin.) Meanwhile, you can still get your weekly roundup each Friday in podcast with Matt Aaron.
What was your favorite story from this week in bitcoin? Let us know in the comments section below.
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The government of Antigua and Barbuda has decided to set up a cryptocurrency exchange. Authorities in St. John’s want to generate revenue for the nation’s treasury and place the country “on the cutting edge of the new system of creating wealth”. The local parliament is set to review and adopt the relevant legal framework.
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In the Front Seat
Trying to cash in on the global fintech wave, Antigua and Barbuda plans to set up its first cryptocurrency exchange. The legislation needed to create the necessary legal framework is to be introduced in parliament shortly, the local Daily Observer reports.
According to the Minister of Information Technology, Melford Nicholas, the exchange will bring together buyers and sellers facilitating crypto trade for a fee. The government expects that the trading platform will generate non-tax revenue for the budget of the island nation. An official statement reads:
Antigua and Barbuda is determined to be on the cutting edge of the new system of creating wealth.
“By establishing an exchange here we will bring Antigua into the game, as it were. Should there be any potential economic spinoffs, we should be in the front seat,” Mr. Nicholas said.
The IT Minister also revealed that Canadian-born businessman Calvin Ayre is one of those involved at the forefront of the new cutting edge technology. The online gambling entrepreneur, who is known for his enthusiasm for cryptos, especially bitcoin cash (BCH), is advising the Antiguan government on cryptocurrency matters.
“Mr. Ayre was as an economic envoy and he is now a citizen of Antigua and Barbuda. We think we can leverage both of those relationships,” said Melford Nicholas.
Last month Calvin Ayre announced intentions to build a $100 million resort at Valley Church beach, Antigua, with profits from his cryptocurrency undertakings. In January he said he was planning to in a mining facility dedicated to . The new resort will accept BCH payments.
Leader in bitcoin Adoption
In 2017, the government of Antigua and Barbuda said it was drafting laws “to implement bitcoin”, as . Antiguan authorities believe bitcoin is benefiting the Caribbean nation, whose economy relies heavily on the tourism and gambling industries. The online gaming sector has developed rapidly in recent years.
is a sovereign state consisting of two major islands, and a number of smaller islands, situated between the Caribbean Sea and the Atlantic Ocean. It is a member of the . Authorities in the capital Saint John’s hope their country will become an early leader in bitcoin adoption and blockchain technology implementation.
Do you agree that small independent nations have the best chance to become true leaders in bitcoin adoption? Share your thoughts in the comments section below.
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Do you agree with us that bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything bitcoin. We have a. And a. And a, a and real-time.
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