Episode 027: Saturday 7th April 2018

Be Careful Which Coin You Buy – BunnyCoin Or BunnyToken – One Might Improve Your Marriage The Other Could Put Your Marriage At Risk!

Coming up in today’s show:

  • Free speech, you say? Why Mailchimp is cracking down on crytpo.
  • As Bitcoin continues to drop… how low can it go?
  • Why the biggest theft in the history of the world was not quite the PR disaster you’d imagine

[Note: Apologies for the audio quality on this episode!]

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The Top 3 Crypto Headlines from this week's show:

1 > Iranian Cyberspace Authority Says Telegram’s Upcoming Crypto Threatens National Currency

https://cointelegraph.com/news/iranian-cyberspace-authority-says-telegrams-upcoming-crypto-threatens-national-currency

The secretary of Iran’s High Council of Cyberspace (HCC) has publicly supported the potential ban of Telegram within the country, citing the chat app’s recent Initial Coin Offering (ICO) as potentially “undermin[ing] the national currency of Iran,” local news outlet Al-Monitor reported yesterday, April 3.

According to Al-Monitor, the discussion about banning Telegram originally stemmed from both a desire to support local apps, as well as national security concerns due to the fear that the app could be used in future protests, as it was most likely used in the Dec. 2017 Iranian demonstrations.

Hassan Firouzabadi, the secretary of the HCC – a policymaking body whose members are appointed by Supreme Leader Ayatollah Ali Khamenei, except for secretary, who is suggested by the Iranian president – approves the suggested ban due to Telegram’s potential for bringing cryptocurrency to all of its Iranian users.

And https://cointelegraph.com/news/telegram-attracts-850-mln-in-second-round-of-ico

2 > Is Crypto Space Fated to Become Another Dotcom Bubble?

https://cointelegraph.com/news/is-crypto-space-fated-to-become-another-dotcom-bubble

The cryptocurrency craze over the past year saw the prices of crypto tokens rise to tens of thousands of times their original values.

The market’s meteoric rise had many, especially those from traditional investing, calling the phenomenon a “bubble.” Since people try to make sense of new events using the past, the crypto space has been commonly viewed through the lens of the “dotcom crash” in the late 1990s- the early 2000s. Hundreds of companies met their ends in the aftermath of the so-called “dotcom bubble.”

So, is the crypto space headed down a similar path?

3 > Down 50%: Q1 Was Bitcoin's Second Worst Quarter Ever

https://www.coindesk.com/50-percent-q1-bitcoins-second-worst-quarter-record/

Bitcoin (BTC) fell by 50 percent in the first three months of 2018 – a drop that marks the cryptocurrency's worst Q1 performance on record.

A look back at historical Bitcoin Price Index data shows that the halving in value seen this year is the second-worst quarterly performance ever. The cryptocurrency suffered its all-time biggest quarterly drop in the third quarter of 2011, when it fell 68 percent from $16.1 to $5.14.

The Top 3 Crypto News Stories from this week's show:

1 > Story of Coincheck: How to Rebound After the ‘Biggest Theft in the History of the World’

https://cointelegraph.com/news/story-of-coincheck-how-to-rebound-after-the-biggest-theft-in-the-history-of-the-world

Those who held Bitcoin through the Mt. Gox hack of 2014 experienced one of the most tumultuous times in cryptocurrency history, having seen some of the darkest days in the ecosystem. However, Mt. Gox has been overtaken as the biggest single exchange hack with Coincheck, also a Japanese exchange, taking the title.

While thieves walked away with a bigger payday from the recent hack, the effect on the entire cryptocurrency market was far less severe. Were there lessons that have been learnt from previous hacks? Or perhaps the market has become more secure and steady in the light of major tragedies.

2 > MAILCHIMP BEGINS SHUTTING DOWN CRYPTOCURRENCY AND ICO-RELATED ACCOUNTS

https://www.inc.com/sonya-mann/mailchimp-icos.html?cid=hmhero

Last week MailChimp, an email newsletter platform, decided to shut down accounts that promote cryptocurrencies and ICOs. But not completely. In response to complaints from the cryptocurrency community, MailChimp tweeted, “Cryptocurrency-related information isn't necessarily prohibited. It can be sent as long as the sender isn't involved in the production, sale, exchange, storage, or marketing of cryptocurrencies.”

Technology analyst Ben Thompson suggested that the decision was motivated by deliverability concerns: MailChimp's success depends on its emails not being kept out of people's inboxes by spam filters. It sounds like he was right. MailChimp wrote in an email to Inc. that “the promotion and exchange of cryptocurrencies is too frequently associated with scams, fraud, phishing, and potentially misleading business practices at this time.”

But the principle remains that whatever you build on a centralized platform — say, custom email templates or automation flows — can be yanked out from under you at the whim of the controlling entity. The platform may say one thing while doing another, and you'll be stuck sending inquiries into the void. The level of accountability depends on the entity's whims.

Maybe there should be a blockchain solution for that.

http://bitcoinist.com/mailchimp-wont-allow-cryptocurrency-campaigns-anymore/

https://cointelegraph.com/news/breaking-mailchimp-reportedly-shuts-down-accounts-related-to-crypto-prices-drop

3 > How New EU Privacy Laws Will Impact Blockchain: Expert Take

https://cointelegraph.com/news/how-new-eu-privacy-laws-will-impact-blockchain-expert-take

EU privacy laws are set to undergo their biggest overhaul since being created in 1995. The new framework, entitled the General Data Protection Regulation (GDPR), comes into effect on May 25, 2018 and will drastically change how organizations handle the personal data they collect and use. The GDPR aims to harmonize data privacy laws throughout the EU and give individuals better control over their personal data.

Under the GDPR, all organizations that store personal data of EU citizens or residents, including Blockchain projects, will be required to follow stringent data privacy rules. Failure to do so will result in fines based on the severity of the breach, the character of the infringement, and the organization’s compliance protocol. The most egregious offenders will face hefty fines up to 20 mln euro or four percent of their annual revenue, whichever is higher.

Unfortunately, many of the assumptions underpinning the GDPR are in conflict with Blockchain’s core technology. For example, the GDPR and Blockchain are clearly not compatible with respect to the GDPR’s requirement that individuals be given the ability to revise or delete their personal data. Blockchains are immutable and generally cannot be changed once a block is created. How can data revision and immutability be reconciled?

This week's Crypto Quickies:

1 > Monopoly’s Crypto Rival, Worldopoly Gets Set for Public Presale

http://www.the-blockchain.com/2018/03/26/monopolys-crypto-rival-worldopoly-gets-set-for-public-presale/

2 > Pink bunnies and fluffy bunnies – why you might want to double check what token you’re buying… Bunnycoin (a charity coin designed to ‘spread love, peace, happiness and economic freedom worldwide’. http://bunnycoin.org/ https://bitcointalk.org/index.php?topic=595766.0) and BunnyToken (payment solution for the porn industry https://bunnytoken.com/ https://bitcoinexchangeguide.com/bunnytoken-ico/)

[Note: We're happy to attribute sources where we can. If you haven't branded your graphic and you'd like us to add a link, please email us at questions@cryptonewspodcast.com]

This week's Top Crypto Coins:

See https://cointracking.info/coin_trends.php for the latest stats.

Paul's Fantasy Crypto Portfolio:

See http://cryptonewspodcast.com/paul

Paul Teague

Alison's Fantasy Crypto Portfolio:

See http://cryptonewspodcast.com/alison

Alison's Bitcoin-only portfolio: http://cryptonewspodcast.com/BTC

Your Crypto Portfolios:

See https://cryptonewspodcast.com/your-crypto-portfolios/

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