Lightning network, Percent potential upside, Digital assets & more… Bitcoin News Friday, February 23


Bitcoin News TLDR / Table of Contents

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Five reasons 2018 could be the best year yet for cryptocurrencies

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  • In an earlier piece for CNBC, I explained why a potential cryptocurrency bubble could burst in 2018.
  • Many people asked me afterward: If I’m so skeptical about the space, why am I invested in it?
  • I’m someone who always calculates the potential upsides and downsides, and I think many people take unnecessary risks: They either invest too much or too little because they don’t do proper analysis.
  • So I want to highlight five reasons why 2018 might be the best ever year for cryptocurrencies and why I’m heavily invested in them.

[/vc_column_text][vc_column_text el_class=”topfeed-tags”]Tags: Lightning Network, percent potential upside, potential cryptocurrency bubble, bitcoin, scalability challenge results[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_separator][vc_column_text el_class=”topfeed-tweet”]

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Your bitcoin may be lost for good if you die without a plan for it

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  • If you haven’t planned for how to pass on your bitcoin or your online investment account, those assets could get lost when you die.
  • That goes for everything from digital currency and investment accounts to social media and photo storage.
  • Many states have attempted to address this by adopting the Fiduciary Access to Digital Assets Act established by the nonprofit Uniform Law Commission.
  • The law expands a fiduciary’s purview to include digital assets in addition to material property.
  • It’s more difficult, because 20 years ago we didn’t have assets that were essentially going to disappear, Walsh said.

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[/vc_column_text][vc_column_text el_class=”topfeed-embedly”]Your bitcoin may be lost for good if you die without a plan for it[/vc_column_text][/vc_column][/vc_row][vc_row el_id=”Secretive-Chinese-bitcoin-mining-company-may-have-made-as-much-money-as-Nvidia-last-year”][vc_column width=”1/2″][vc_separator][vc_column_text]

Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year

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  • A secretive Chinese start-up called Bitmain that dominates the bitcoin mining industry likely made as much as chipmaker Nvidia did last year, Bernstein analysts estimate.
  • Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, the analysts calculate that Bitmain made $3 billion to $4 billion in operating profit in 2017.
  • Bernstein’s U.S. semiconductor team estimates Nvidia’s operation profit was $3 billion during the same period.
  • But Bitmain achieved this in merely four years, while it took Nvidia 24 years to get here, the Bernstein analysts said in a report published Wednesday.

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Blockchain could reshape the world – and the far right is one step ahead | Josh Hall

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  • For most people, blockchain technologies are inseparable from bitcoin, the cryptocurrency that has been particularly visible in the news recently thanks to its hyper-volatility.
  • While the focus has so far been on currencies such as bitcoin, whats less well known is the large and growing community of blockchain developers and evangelists, many of whom believe that the technology could herald radical changes in the ways our economies and societies are structured.
  • Along with speakers from blockchain startups, cryptocurrency exchanges and a company that purports to offer privately managed cities as a business, the conference programme also features Alice Weidel, listed on the site as an economist and bitcoin entrepreneur.
  • But outside of the countrys borders, Weidels invitation to the Unchain summit also poses questions for the nascent blockchain community.
  • Blockchain technology has the potential to help us build a better world but we need to take action to ensure that it doesnt lead us down the path preferred by Weidel and her companions.

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[/vc_column_text][vc_column_text el_class=”topfeed-embedly”]Blockchain could reshape the world – and the far right is one step ahead | Josh Hall | Opinion | The Guardian[/vc_column_text][/vc_column][/vc_row][vc_row el_id=”US-regulator-warns-of-pump-and-dump-cryptocurrency-frauds”][vc_column width=”1/2″][vc_separator][vc_column_text]

US regulator warns of ‘pump-and-dump’ cryptocurrency frauds

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  • The U.S. Commodity Futures Trading Commission (CFTC) joined other regulators sounding the alarm on pump-and-dump cryptocurrency investing schemes.
  • Customers should not purchase virtual currencies, digital coins, or tokens based on social media tips or sudden price spikes, the CFTC wrote in a statement Thursday.
  • Thoroughly research virtual currencies, digital coins, tokens, and the companies or entities behind them in order to separate hype.
  • Similar frauds, the CFTC said, now occur through social media, messaging boards, and false news reports on it is the people pulling the strings who get out first making the most in the scheme, and leaving everyone else scrambling to sell before losing their investment, the agency said, adding that…
  • The agency also halted and froze assets of what was likely the largest coin offering ever, and said Dallas-based AriseBank used social media, a celebrity endorsement, and other wide dissemination tactics to raise what it claims to be $600 million of its $1 billion goal in just two months.

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