James Greaves is the co-founder of Glyph, an identity service built for the blockchain era. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. I’m completely out of crypto and I’ve been selling my bitcoin and ether all year. Does that disgust you? Disappoint you? If you just met me, I’m guessing […]
CNBC ‘Embraces’ Crypto With Fully-Fledged Documentary
CNBC has quickly become near-infamous in the cryptocurrency community for its controversial coverage of this asset class. And while the mainstream media outlet’s coverage of crypto has been criticized time and time again, it seems that the firm’s higher-ups aren’t fazed, recently revealing that CNBC would be airing a Bitcoin-centric documentary.
It’s “HODL” and it’s the most important acronym in the bitcoin vernacular. We explore the concept in “Bitcoin: Boom or Bust,” premiering Monday, August 27 at 6 p.m. EST on CNBC. #BitcoinBoomOrBust #CNBCCrypto https://t.co/vgvshklCB0 pic.twitter.com/rV1N2kLCzy
— CNBC (@CNBC) August 25, 2018
On Saturday afternoon, the American CNBC news outlet announced that it would be airing a documentary that would “explore the world of bitcoin.” In a press release issued a few days earlier, CNBC wrote the following regarding the description of the documentary:
This documentary is an eye-opening journey that proves to be as informative as it is entertaining and unexpected. Lee offers viewers a rare look inside the wild world of bitcoin, uncovering the unusual landscape and cast of characters surrounding it, and ultimately, allowing viewers to take their own side in the crypto craze.
Along with the reveal of the documentary’s name — “Bitcoin: Boom or Bust” — the firm also unveiled a 90-second trailer, which was likely aimed at getting users interested for the Monday, August 27th air date. Instead of building hype, however, the release of this announcement has seemingly backfired, with crypto enthusiasts, personalities, analysts and investors coming out en-masse to pick apart the short, yet contentious trailer.
Firstly, users came out to berate the outlet for its use of “HODL,” a term that has been immortalized in the heart of the cryptocurrency community. In the trailer, CNBC host Mellisa Lee, draws attention to HODL, noting that it is a popular acronym for “hold on for dear life.”
As Ricardo Spagni, a foremost Monero developer, points out, HODL is not an acronym, but rather an insignificant, yet hilarious typo that gained a cult following in the crypto community following late-2013. Spagni, poking fun at the outlet’s use of the term, wrote:
It’s not an acronym, you incompetent buffoons. Please do the tiniest bit of research FIRST!
Last but not least, the documentary’s focus on a Bitcoin diehard, dubbed “Crypto Kid,” who seems to be set on portraying his somewhat over-the-top character, instead of providing viewers with an informative look into Bitcoin and related topics. Bitcoin millionaire Crypto Kid, whose legal name is Justin, is such a diehard that he apparently sold a majority of his worldly possessions for crypto, and now lives in a treehouse as an expression of his “frugal” lifestyle.
While there isn’t anything inherently wrong with “Crypto Kid,” many critics stipulated that a focus on a more relateable cryptocurrency enthusiast would have been a better choice for viewers.
Please consider interviewing @aantonop @brucefenton @NickSzabo4 @dieguito somehow I get the feeling you are trying to ridiculise the crypto movement.
Here is a whole list of candidates https://t.co/AduO8jAYPP
— Hector Hernandez (@hjhernandeza) August 26, 2018
Anyhow, keeping the trailer (and the subsequent response of cryptocurrency investors) in mind, it would be no surprise if Monday’s full release of the documentary will result in an even harsher round of backlash for CNBC.
Photo by Andre Francois on Unsplash
The XRP Community is forever enthusiastic about the progress their favorite digital asset has made over the years. The community constantly updates the crypto-verse on new developments with regards to XRP and the Ripple company. One such update, is the number of over 20 fiat pairings XRP has achieved in the numerous global exchanges. The exact tweet that led to this discovery can be found below.
XRP/fiat pairings on different exchanges throughout the world
See the whole list here: https://t.co/gpturCYmT8 #XRPthestandard 2020$XRP #XRP #Ripple #XRPcommunity @Ripple #Blockchain #crypto #cryptocurrency @XRPTrump @Hodor7777 @bigbuckor @BankXRP @RobertLe88 pic.twitter.com/lPvkKSYsj3
— Dario Šuveljak (@stedas) July 27, 2018
So which fiat currencies is XRP paired with and in which exchanges
The following is the list of fiat currencies XRP is paired with:
- United States Dollar (USD) – on the 17 exchanges of: xBTCe, Sitemkoin, Exmo, CoinField, BitPay, alfacashier.com, blockbid.io, Bitfinex, BitFlip, Bitsane, Bitstamp, CEX.io, Exrates, Gatehub, Kraken, Mr.Exchange, Quoine,
- Canadian Dollar (CAD) – on the 2 exchanges of CoinField and Kraken
- Japanese Yen (JPY) – the 5 exchanges of Blockbid.io, Bitbank, Kraken, Mr. Exchange and Quoine
- Euro (EUR) – on the 12 exchanges of BitPay, alfacashier.com, blockbid.io, BitFlip, Bitsane, Bitstamp, CEX.io, Gatehub, Kraken, LiteBit.eu, Quoine and the Rock Trading
- South Korean Won (KRW) – on the 6 exchanges of GoPax, Bithumb, Coinone, Coinrail, Korbit and Upbit
- Australian Dollar (AUD) – on the 2 exchanges of blockbid.io and BTC Markets
- Indian Rupee (INR) – on the 4 exchanges of Unocoin, Bitbns, Koinex and Zebpay
- Turkish Lira (TRY) – on the 5 exchanges of Sistemkoin, Ovis, BTCTurk, Koineks and Vebitcoin
- Mexican Peso (MXN) – on the Bitso exchange
- Thai Bhat (THB) – on the 2 exchanges of TDAX and bx.in.th
- Chines Yuan (CNY) – on the 4 exchanges of alfacashier.com, Fatbtc, Ripple China and Ripple Fox
- South African Rand (ZAR) – on Altcoin Trader
- Indonesian Rupiah (IDR) – on the 2 exchanges of Bitcoin Indonesia and Quoine
- Ukrainian Hryvinia (UAH) – on the 2 exchanges of BitFlip and Kuna
- British Pound (GBP) – on the 4 exchanges of LBX, CryptoMarket, coinfloor and Cryptomate
- Russian Ruble (RUB) – on the 3 exchanges of Exmo, alfacashier.com and BitFlip
- Brazilian Real (BRL) – on byebnk.com and Rippex exchanges
- Singapore Dollar (SGD) – on Quoine exchange
- Philippine Piso (PHP) – on Coins.ph exchange
- United Arab Emirates Dirham (AED) – on bitoasis.net
- Chilean Pesos (CLP) – on orionx.io exchange
- Polish Zloty (PLN) – on BitPay exchange
This list is exciting as well as distributed across the globe currencies.
Disclaimer: This list might not be accurate 100%
As we observe history and look at how trendsetting products and services set the pace for the adoption of the things we take for granted, such as the introduction of the smartphone, we realize that the same history is once again repeating itself with the Ripple company and the XRP (XRP) coin. In a sense, the court cases against Ripple are actually good for the entire crypto-verse as shall be elaborated in a bit. The same applies with the SEC reluctance to classify the digital asset as a security.
The way any court system works when it comes to monumental cases such as the 3 that are being faced by Ripple, is that the verdict on one previously unheard of case, sets precedence for rulings in the future for similar cases. Take for example the court case of Brown v. the Board of Education. The ruling that racial segregation in schools was unconstitutional from that case in 1954, has paved the way for numerous students from different racial, cultural and global backgrounds, to attend not only public schools in America, but also institutions of higher learning.
Therefore, once a ruling is made on any of the 3 cases against Ripple, any other crypto related court case will quote the verdict – may it be positive or negative – in its defense. Ten to twenty years from now, the Ripple court cases will be in the annals of history as evidence of how a company can use a digital asset in its payment solutions, and still maintain that it is entirely separate from the digital asset. This separation will validate XRP as an entity by itself and perhaps a legal form of tender. Even the SEC will see that XRP is not a security.
Ripple is also introducing new blockchain technology to the financial industry through its numerous partnerships with banks and remittance service providers. What Ripple has accomplished, and will continue to accomplish, will ease the fear banks have in embracing new technology. As a result, more and more banks will start exploring blockchain and cryptocurrencies as a way of making their banking systems more efficient for themselves and their customers.
Moving over to XRP, the members of the global community behind the coin are the true crusaders for its adoption. Back in mid-May, an XRP fan managed to pay for his haircut using XRP (screenshot below).
Similar crypto adoption has been reported in Spain where you can now pay for your taxi ride and coffee using TRX.
Summing it all up, crypto adoption will be a long road that will be spearheaded in more ways than one by the ongoing cases against the Ripple company and by the use of XRP by the global community backing the coin.
Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
News reaching Ethereum World News indicate that popular Crypto-crusader, John McAfee, has been asked by the Blockchain World Conference organizers, to cancel his live appearance at the event after getting numerous death threats against Mr. McAfee.
In a tweet, the Blockchain World Conference stated the following:
Due to a number of credible death threats against McAfee, The BWC team has been forced to request that @officialmcafee live stream his keynote speech at 11am EST, from a secret secure location. Mr. McAfee’s globally impacting message will not be silenced by the efforts of a few! pic.twitter.com/lNfOEiCirP
— Blockchain World Conference (@BWCevent) July 13, 2018
McAfee would also add via twitter that:
I have been asked by the Blockchain World Conference organizers to cancel my live appearance due to fears of audience, and my own, safety. I will be live streaming from an undisclosed location at 11:00 AM.
He would later explain to his followers the following also via Twitter:
The choice not to appear on stage was not my choice. It was a decision made by the conference organizers. Blaming me simply and squarely places you in with my few hundred thousand trolls. If that’s where you wish to reside then so be it.
Whether the news of death threats are true or not, McAfee was most recently hospitalized for what he claimed was an attempted assassination through poisoning.
I apologize for my three day absence but I was unconscious for two days at the Vidant Medical Center in North Carolina and just woke up. My enemies maged to spike something that i ingested. However, I am more difficult to kill than anyone can possibly imagine. I am back.
— John McAfee (@officialmcafee) June 22, 2018
History as a Wanted man
Prior to that, McAfee had stated that he was on the run from the US government after he claimed that he had purposely committed a felony by calling out the SEC. It is not the first time McAfee has been a wanted man. In 2012 during his stay in Belize, McAfee seemed to ruffled the feathers of the Belizean government when his compound was stormed by 42 paramilitary soldiers in search of what they claimed were drugs in McAfee’s compound.
McAfee would later escape from Belize the same year through Guatemala after one was his neighbors was murdered under mysterious circumstances.
Presidential Bids and love for Docademic (MTC)
On his return to the US, McAfee would run unsuccessfully for president in 2016 and plans on running once again in 2020. Core to his new presidential bid, is his plan to provide universal healthcare in the US through the blockchain platform and App of Docademic (MTC) that he is passionate about.
In one of his tweets about Docademic and against his new foe, HitBTC, McAfee would state that:
Yes I am an investor in Docademic. I invested as soon as I saw their groundbreaking system. But I do not need their money. I invested to help Docademic. HitBTCs unethical tactics cost me and everyone money. Would you not be irate?
— John McAfee (@officialmcafee) June 30, 2018
McAfee currently enjoys a loyal following of 845,000 fans on twitter with this number expected to reach 1 Million pretty soon.
Self-professed Bitcoin “creator” Craig Wright has agreed with a New York banker that there is “no really good reason” to ‘hodl’ Bitcoin.
Wright, who has divided the cryptocurrency community with his often provocative statements, was responding to comments by Federal Reserve Bank of New York assistant vice president Asani Sarkar during a presentation on Bitcoin.
“He is correct,” Wright wrote on Twitter after Sarkar rubbished holding Bitcoin “in and of itself.”
“Bitcoin is valuable as money, cash. As a pure settlement system, it is clumsy and inefficient.
He is correct.
Bitcoin is valuable as money, cash. As a pure settlement system, it is clumsy and inefficient. I worked for the Aust Stock Exchange in the 90s. Our systems exceeded BTC tgen for pure settlements.
— Dr Craig S Wright (@ProfFaustus) September 29, 2017
The perspective challenges a widely-held belief in the cryptocurrency community that simply hodling coins will produce better profits than short-term trading.
Nonetheless, the views contrast with recent statistics from even mainstream media, demonstrating the benefits of sitting on coins (565 percent returns) over shorting them (295 percent returns).
Wright nonetheless remains committed to his alternative to Bitcoin scaling, nChain, of which he is chief architect.
Alternative Bitcoin scaling
This week, partnership details surfaced with Bitcoin Unlimited, in which the two parties will test 1GB blocks and transaction capacity of 3,000 per second, similar to Visa.
If successful, a release says, Bitcoin Cash will form the testbed for any changes.
“We hope our efforts with BU inspire even more Bitcoin ecosystem players to work together – rather than fight each other – to advance Bitcoin’s role as the dominant cryptocurrency,” nChain Group CEO Stefan Matthews added in a release.