September 29th, 2017
In my humble opinion...
You want a use case? Here it is.
People can't access their bank accounts/debit cards/money in Puerto Rico. Another example why something like #Bitcoin is so important.
— Philip Francis (@philfrancis77) September 28, 2017
Coin of the Day
Decentralized pot? Everyone's talking about it.
Ever had a bad trip? Yeah...us neither. Paragon (PRG) hopes to fix the guesswork and risk of buying pot. When you buy marijuana from the service, you can check out almost everything about your newly purchased mary jane: place of origin, fertilizer, lab test results, and more. Paragon is also going to host their own social networks for cannabis startups, funding the companies through a community voting system. Marijuana will likely be legalized in the coming years, but until then, a safer and more reliable system should keep suppliers accountable. Hopefully Paragon can fill that space. We highly recommend you check out their whitepaper; it's incredibly informative as well as enlightening about the pot industry as a whole.
The terrorist argument continues: the "only reason" bitcoin has any value is because of criminal use. And North Korea. And ISIS. Um, not really.
Recently, North Korea has been attempting to hack South Korean bitcoin exchanges in a final struggle to fund their less-than-admiral endeavors (see: destroying democracy). In fact, North Korea managed to steal a whopping $88,100 in bitcoin. Wow. I bet they could buy...well, almost nothing important. Apparently these hacks are a "big wakeup call" for those considering cryptocurrency as a viable method of financial integration. This obnoxious CNBC article makes a lot of claims, including but not limited to, including this quote from a Forbes article written over six months ago:
"the only reason Bitcoin has value to anyone is because of the underlying value as a medium of exchange for lawbreakers. If we could flip a switch and eliminate all illegal uses of Bitcoin, there would be nothing left of the cybercurrency."
I'm going to go out on a limb here and say almost everything that this quote is trying to prove is wrong. Here's why.
The Royal United Services Institute research found that claims of terrorists using cryptocurrency are extremely exaggerated.
Yes! You heard that right! Apparently the Center for American Security released a report prioritizing the modified use of digital currency. The report is riddled with what can only be defined as a somewhat ignorant and oversimplified explanation of a complicated issue. tl;dr banks and governments are freaked out by the rise of virtual currency because it's untraceable and "dangerous"...even though most terrorist groups haven't been able to use bitcoin at a large scale because it's expensive to mine and difficult to trade, it still poses a threat because it cannot be controlled.
Remember when ISIS only accepted US dollars as payment? We do. The patronizing CNBC article makes the case for commodifying bitcoin and thus asking other countries who have legalized the cryptocurrency to undo their previous legislature. This seems a little...extreme. If you need a fire under your butt this morning, read the eye-rolling article here.
Crypto mining uses a "stunning" amount of energy - and Intel is trying to fix that.
IOTA has been getting a lot of flack from the crypto community recently due to vulnerabilities in their code. Uh oh.
South Korea might ban ICOs. The market doesn't react. Money badger don't give a sh*t.
Only 5% of bitcoin transactions use segwit. That's pretty underwhelming.
Coin to Watch
We're really vibing with Paragon (PRG), and it's crowdsale isn't over yet. Check it out.
— Cointelegraph (@Cointelegraph) September 28, 2017