Coronavirus Hits Crypto, Buffett Beef, Craig Wright a ‘Disgrace’: Hodler’s Digest, Feb. 24–Mar. 1
Coming every Sunday, Hodler's Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a calendar week on Cointelegraph in one link.
Tiptop Stories This Calendar week
A bruising week for cryptocurrencies, stock markets and fifty-fifty gilded
This week, it seemed like nowhere was safe from panic over the coronavirus. Almost $3.ii trillion in U.South. stocks has been wiped out U.S. since Monday — and over the past seven days, Bitcoin has tumbled by more than than 13%. Even golden, traditionally regarded equally a safe haven asset, wasn't immune from the sell-offs. BTC failed to defend its 200-day moving average, a crucial factor in determining the health of the balderdash market, which Cointelegraph annotator flibflib described as a "significant issue." The coronavirus outbreak has now spread beyond prc — with S Korea, Italian republic and Islamic republic of iran hit the hardest. Expect farther turmoil in the markets if the virus continues to spread at this alarming rate.
Anthony Pompliano attacks Warren Buffett and defends Bitcoin
In a alive Idiot box interview on the floor of the New York Stock Exchange, Anthony Pompliano pulled no punches in dismissing Warren Buffett's criticism of cryptocurrencies. After the billionaire suggested that digital assets were being used for money laundering, the Morgan Creek Digital Assets co-founder accused him of being a hypocrite. Pompliano alleged that Wells Fargo, one of the banks Buffett invests in, has helped launder billions of dollars for the notorious Sinaloa drug cartel. During the CNN interview, Pompliano went even further and claimed that Buffett was out of touch, saying: "I actually don't have technology communication from somebody who uses a flip phone or doesn't utilize e-mail."
Warren Buffett doesn't want to own whatsoever cryptocurrency
Pompliano's fighting talk came after Buffett had told CNBC that he doesn't own any cryptocurrencies considering they "basically have no value." It seems like the globe's fourth-richest man wasn't sold on Bitcoin when he met upward with Tron CEO Justin Sun for a charity lunch. Warning about how cryptocurrencies don't produce annihilation, Buffett said: "What y'all promise is that somebody else comes along and pays yous more money for information technology later on, only then that person'southward got the problem. In terms of value… zero." Nonetheless, the billionaire said he had a "very pleasant" iii-and-a-one-half-hour luncheon with Sun. However, there's a twist. Sun says Buffett does own cryptocurrency because he was given some as a souvenir — adding that blockchain records can prove it.
Kaspersky debuts blockchain-based voting machine
To describe the use of mobile voting during the Iowa conclave equally a disaster would be an understatement. But this isn't stopping Kaspersky Labs from developing a blockchain-based voting machine that could go a mainstay of elections in the time to come. The motorcar works past issuing voters with unique QR codes or tokens that ensure they can but cast a election in one case. It could eliminate the demand for multiple polling places in urban centers, as voters would be able to use their mobile phones instead. Kaspersky Labs says it does intend to completely supervene upon paper-based voting with this engineering, as it could "deprive and alienate certain groups of people" from exercising their democratic correct. With fears of hacks and data breaches looming large, information technology could be some time before such machines go mainstream.
Revolut will make crypto available in l states
Subsequently gaining traction in Europe, Revolut is at present planning to enable Americans in all 50 states to buy and sell everything from Bitcoin and Ether to Litecoin and XRP. Square is being eyed up as Revolut'south biggest competitor in Due north America — and the fintech firm believes information technology could gain an upper mitt considering of how it supports more than than just BTC. Revolut has merely raised $500 one thousand thousand on a $five.5-billion valuation, but the visitor'south general managing director, Dan Westgarth, believes that investors aren't put off past its exposure to crypto. He told Cointelegraph: "Our investors like crypto. They don't heed the take chances as long equally it is well-managed, and nosotros are skillful at it."
Winners and Losers
At the end of the week, Bitcoin is at $8,604.94, Ether at $222.68 and XRP at $0.23. The total market cap is at $245,828,750,264.
Among the biggest 100 cryptocurrencies, the top iii altcoin gainers of the week are Kyber Network, Power Ledger and WaykiChain. The top three altcoin losers of the calendar week are Molecular Futurity, Cosmos and ABBC Money.
For more than info on crypto prices, make certain to read Cointelegraph's market analysis.
Most Memorable Quotations
"Our investors similar crypto. They don't mind the chance as long every bit it is well-managed, and nosotros are good at it."
Dan Westgarth, Revolut digital manager
"I think the price of Bitcoin, on a long-term basis, will quantuple, if that's a word."
Robert Herjavec, millionaire host on Shark Tank
"Without keys, BTC will be confiscated. Code is law, and courts can mandate patching code. Bitcoin is not encrypted. It is economic."
Craig Wright, self-proclaimed Bitcoin creator
"He [Craig Wright] claims to be the founder of Bitcoin, Satoshi Nakamoto, which is a lie. He hurts the credibility of Bitcoin and is a disgrace to our unabridged industry."
Changpeng Zhao, Binance CEO
"There's a sucker born every minute, and many of them own Bitcoin."
Peter Schiff, crypto skeptic
"Ultimately, Bitcoin will be the winner and volition exist the global reserve currency at some signal in the hereafter."
Anthony Pompliano, Morgan Creek Digital co-founder
"I don't ain any cryptocurrency. I never will […] Y'all tin can't do anything with information technology except sell information technology to somebody else."
Warren Buffett, billionaire investor
Prediction of the Week
Shark Tank's Robert Herjavec says Bitcoin's price will "quantuple" long-term
We love a assuming prediction here at Hodler's Digest — especially ones that may not actually brand much sense. Robert Herjavec, the multimillionaire star of "Shark Tank," has said he believes BTC is currently valued at only a fraction of its long-term potential. He told Kitco News: "I think the price of Bitcoin, on a long-term basis, will quantuple, if that's a word." (A quick footnote here… quantuple isn't a word. We can't be sure, but we think he may mean "quintuple," which would see BTC increment fivefold.) His inability to access a lexicon doesn't seem to be the only problem. During the interview, Herjavec appeared to confuse the term "Bitcoin" with the entire crypto manufacture as a whole, adding: "You can buy different types of Bitcoin, and I call up information technology'southward a bit of a fragmented industry." That'll be Ether, Rob.
FUD of the Week
Courts volition seize BTC with miners' help: Cocky-proclaimed Satoshi Craig Wright
Craig Wright has claimed Bitcoin can and will be seized to accommodate courtroom orders. The Australian entrepreneur, who has proclaimed himself as the BTC creator, Satoshi Nakamoto, believes the get-go seizures of the cryptocurrency by the courts will happen this twelvemonth — and that information technology could happen without private keys. Wright is now calling for hacked exchanges that have lost Bitcoin to arrive touch and then "people get their money back, starting this twelvemonth." He went on to say: "You run across, Bitcoin is easily confiscated, hands returned to the owner." Whether or not whatsoever of this is grounded in reality remains to exist seen.
Binance CEO Changpeng Zhao: "Craig Wright is a disgrace"
Wright's many stunts take left other stalwarts in the crypto industry distinctly unimpressed. One of them is Changpeng Zhao, the CEO of Binance. He told Cointelegraph that Wright's claim of being Satoshi Nakamoto is a lie, adding: "He hurts the brownie of Bitcoin and is a disgrace to our entire industry." Zhao added that Wright could easily have proved if he actually was behind BTC, adding: "He could not use even the almost remote style to prove his claims. The true inventor of Bitcoin is far more capable than that."
Threat alert: New trojans targeting major crypto exchange apps discovered
A new trojan that steals two-factor hallmark codes generated by the Google Authenticator app has been identified by an Amsterdam-based cybersecurity house. "Cerberus" has an extensive list of targets, including the U.S.-based cryptocurrency exchange Coinbase. It is also believed that the Remote Access Trojan has the ability to steal device screen-lock PIN codes and swipe patterns. ThreatFabric, the visitor that uncovered Cerberus, warned: "We tin can conclude that this screen-lock credential theft was built in order for the actors to be able to remotely unlock the device in order to perform fraud when the victim is not using the device."
Best Cointelegraph Features
The BCH question: How to recover after $thirty million hack and mining taxation row?
Bitcoin Cash has had a rather atrocious start to 2022 — with some analysts predicting we will at present begin to witness the cryptocurrency'southward "boring expiry." Joseph Birch looks at some of the biggest issues facing BCH, which has divided its community like never before.
Defining Bitcoin: Money, currency or store of value?
What is Bitcoin? Is information technology a currency? A class of coin? A shop of value? All of the above or none of the higher up? Perhaps something completely new? Here's António Madeira.
Presumed guilty: Financial watchdogs run into crypto as illicit past default
Some major jurisdictions, such equally Russia, are planning to flag whatever and all transactions involving cryptocurrency as suspicious. What gives? Here'southward Kirill Bryanov.
Source: https://cointelegraph.com/news/coronavirus-hits-crypto-buffett-beef-craig-wright-a-disgrace-hodlers-digest-feb-24mar-1
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