End of the week report, 20th July 2018

mindblowing news

 

A busy week at work usually means a productive one. And that usually means a tiring one. Making it difficult for you to keep up with all the crypto news that’s happening around you on the daily. No worries, the Embily team is here with all the latest important and/or interesting news for you, all compiled into one place.

This week we’ve seen some GREEEEN movement for Bitcoin and the rest of Cryptocurrency. Question is, however, can we aim to keep the prices above 7K? I sure hope support will hold!

 

Monday 16th

For those that have been in the cryptospace for some time now may have noticed that some of the payment processors and card companies such as Mastercard have had half a foot into the cryptoworld for quite a while now. Though it was never too clear of their intentions, until now. Mastercard wins a patent that will help speed up crypto payments on the blockchain.

Is this something to look forward as it means more adoption or a centralized force to be wary of?

Mastercard wins patent for speeding up Crypto Payments

 

So, there has been some drama stirring up lately amongst the Cryptocommunity. It is surrounding a member of Congress who has just revealed he wants to prohibit Americans from buying and/or mining Cryptocurrencies. Buuuuut, his largest campaign donor is a credit card processing company that reached an agreement with the U.S. Justice Department to forfeit $13 Million USD to settle allegations that the money was traced to illegal gambling at offshore websites.

Members of Congress Open Secrets

 

Tuesday 17th

Apparently, this is a problem. And it was a problem that I didn’t release existed for Bitcoin and Crypto until recently. That problem is the Year 2038 problem. This problem exists for all time that is represented in digital systems. Since 1st January and up to the January 19th, 2038, the ‘date’ of the times would be reset in such digital formats. This will likely affect the Bitcoin Blockchain as it’s using the same format (signed 32-bit integer). Hopefully, we will see a solution by then or there will most likely be another hardfork!

The Year 2038 Problem

 

Wednesday 18th

 

This is interesting. Have you ever heard of a Ponzi scammer offering to pay back victim’s money? Amit Bhardwaj, the founder of GBminers and Gainbitcoin, has actually offered to pay back his investors their initial investments all back in Indian Rupees. Buuuut they aren’t having any of that.

Indian Bitcoin Ponzi Schemer offers to repay initial investments

 

Okay, so recently there has been some news stirring up in Russia regarding regulations and new laws for Crypto miners and holders. Details such as Mining and circulation of cryptocurrencies will be regulated under existing provisions of the Russian Tax Code.

Russian Crypto Miners and Holders will be regulated under current laws

 

Thursday 19th

I thought this was super cool! Change.org is asking their users to install a screensaver that will mine Monero for the organization’s charitable foundation. If you’ve ever wanted to be a part of something bigger, you can show your support and help mine some Monero.

Change.org launches screensaver that mines Monero for charity

 

 

Don’t forget to check out last Monday’s report: Your Crypto Monday Report – 16th July 2018

Cover illustration artist Juhho, DeviantArt

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Just two months after his first Bitcoin purchase, Loy found himself working with Embily and has been a Cryptocurrency evangelist ever since. Follow his journey as he continues to learn all he can about Crypto.