Weekly news – July (IV)

What you see on the stock markets is certainly not optimistic. Despite this, still in the world of cryptocurrencies, it is not so difficult to find positive news, as you will see by reading the rest of this text.

Although the information about robbing the Bithumb exchange is not good, news will certainly please you that the platform has already recovered nearly half of the stolen funds. “The main way to reduce the damage caused by the attack was constant cooperation and support from cryptoclosure exchanges around the world. It also helped quickly respond to a cyber attack involving the transfer of cryptocurrencies to offline portfolios, which reduced the scale of theft, “we learn from the Bithumb statement. The testimony of the stock market maturity (and in a sense the market) is also the fact that immediately after the hacker attack, the company announced that it will return the cryptocurrencies to its clients.

Another bubble ahead of us? That’s what Steve Woznik thinks! During the NEX conference in New York, the co-creator of the power of Apple compared the situation on the Blockchain market to what he observed in the case of Internet companies “Dotcoms.” “As we look at everything from the current perspective, we will say that so much has happened in the Internet, we have achieved it, but we needed some time. […] Such changes do not come in one day, many ideas in the field of blockchain are good solutions, but when they come to light in the early phase, they can burn out because they have not been worked on so that they can work stably in the long run. “It is worth noting that although Woz is bullish, today he is said to have only one bitcoin. He also sees the great potential of Ethereum.

As many as 27% of young Britons (so-called millenials) consider btc to be a better investment than real estate. According to the Get Living developer, young people see high potential for rapid growth in the main cryptosystem, especially when compared to, for example, housing. “For Millenials, a sharp rise in btc – followed by an almost equally sharp correction – is more intriguing than the prospect of a steady rise in property prices,” notes the results of the study. A previous study by Harris Poll on behalf of the VC company also showed that 27% millenials – both women and men – would prefer to have a part of btc worth $ 1,000 than shares of the same value.

On the issue of bitcoin, the “Wall Street Wolf” became active. In the movie made available on his Youtube channel, Jordan Belfort, who became famous for Martin Scorsese, said that what we see in the charts is the “beginning of the end” of bitcoin, because there are no fools in the market who want to buy the main cryptocurrency. He believes that the market has not yet “crashed”, but warned investors against the impending crash. This is not the first time that Belfort openly criticizes bitcoin. In an interview last year he said that cryptocurrency is a scam and does not represent any value. Negative opinions about ICO are also negative.

We will finish with something positive. CEO and co-founder Coinbase, Brian Armstrong, is launching a charity fund to collect digital currencies for people in need from developing countries and financial crises. In his opinion – and the people who have to cooperate with him – the existence of such an organization becomes a necessity, because the considerable success of cryptocurrencies caused that a lot of people earned huge wealth on them in a short time. Unfortunately, some of these people behave in an immature way and concentrate on pure consumption, instead of showing that Bitcoin can also be used to do good.

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