September 19th, 2017
In my humble opinion...
the kids are alright.
— CoinDesk (@coindesk) September 18, 2017
Coin of the Day
The Bitcoin bank you've been waiting for
(CRYPTO: BNK) Bankera is exactly what it sounds like: a bank that provides payment services (such as debit cards and foreign exchange rates), loans, deposits, and investments. This service is perfect for those who have a majority of their money in crypto and don't want to cash out all at once or at all. Bankera will support fiat currencies as well as bitcoin, Ethereum, DASH , SEM, ERC20, and more. Sounds like the best of both worlds.
As an extension of the cryptocurrency exchange SpectroCoin, the service boasts incredibly short transaction times (we're talking minutes instead of days). As for investing, Bankera's service offers equity traded funds, wealth management, and crypto-funds (diversified portfolios). Although this project is not without a bit of controversy, it seems that it will become an experiment and example of one of the first bitcoin banks.
Africa is becoming a driving force in digital currency. It's now become a case study for a cashless society.
A decade ago, Africa became one of crypto's biggest allies. M-Pesa, the digital cash system based in Kenya, (and has since spread to several other African countries and India) has 18 million active users. As Vodafone's baby, it's been credited with helping to reduce poverty, and is beginning to face some stiff competition as Kenya Banker's Association has recently introduced a mobile payment platform as well.
Now, South Africa's second largest retailer, Pick n Pay, has begun accepting bitcoin. The retailer also has locations in Zimbabwe, Lesotho, Namibia, Mozambique and Zambia. The video below shows how each transaction at the grocery store works. If all goes to plan, it seems extremely likely that European markets will begin testing this procedure within a year, if not sooner. Who wants to bet this outperforms Apple Pay - not that it's very hard to.
In case you haven't heard, there's going to be a fork in the Ethereum blockchain.
Some news that's been heavily overshadowed by the insane bitcoin price dip and spike is that Ethereum is going to have a hard fork. Titled the "Metropolis hard fork", there will be two steps in the blockchain divide. The first will be implemented in late September, which will involve splitting one Ethereum network into two; both of these will exist simultaneously. One of the networks will be Ethereum's new and improved blockchain that uses proof-of-stake - a faster and more energy efficient way of processing transactions. The major downside? It's going to make mining almost irrelevant for Ethereum.
The purpose of the fork is to create faster processing, fixing block rewards for uncle blocks, and reduce transaction fees. One of the more contentious steps is implementing the "difficulty bomb" that will stop mining on the old Ethereum network. This difficulty bomb is a portion of the blockchain that will be almost unsolvable, and make mining not only make incredibly challenging, but also very unprofitable. As expected, there's a proposal that will delay this step, so as to keep profitiability up for mining - yet, it seems to be almost a lost cause. Time to look for new coins to mine, I suppose.
A Columbus clinic is going to accept bitcoinafter doctors watched the 2008 crash destroy people's ability to access healthcare.
“After the stock market meltdown of ’08-09, I have witnessed suffering from hundreds of families that lost jobs, retirement savings, and even their homes due to greedy government backed bankers and HMO’s alike,” said Dr. Eric Codner, lead doctor at CPMC.
“Using Bitcoin for your purchases returns power to the consumer by allowing payment through a decentralized currency that cannot be manipulated by any bank or government,” Codner said.
Two Chinese exchanges were given an extra month to operate, gently boosting bitcoin's price.
Heads up: the Pirate Bay might be using your computer to mine crypto. Here's how.
Coin to Watch
Civic (CVC) is a really solid buy right now - its performance has been relatively steady for the past few days, and the concept behind the coin is really interesting. If you haven't read up on founder Vinny Lingham, you should - he's a big fish in the crypto pond.
The best way to learn the ways of HODL is to put your investments in a hardware wallet and have a trusted relative hide it for you.
— Crypto de' Medici (@cryptodemedici) September 18, 2017