Rich Dad Poor Dad author Robert Kiyosaki says “Bitcoin has the greatest upside.” He also revealed that he invests in the cryptocurrency because he does not trust “our leaders, the Fed, Treasury, nor the stock market.” Robert Kiyosaki Reveals Why He Buys Bitcoin, Says the Crypto Has the Biggest Upside Robert Kiyosaki, the renowned author of the best-selling book Rich Dad Poor Dad, explained Tuesday why he invests in bitcoin, noting that the cryptocurrency has the biggest upside in the current environment. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Tuesday after bitcoin’s price rose past the $50,000 level: "Bitcoin to $50,000. Great news for bitcoin holders. Bad news for mom and pop. The primary reason I invest in bitcoin, gold, & silver is because I do not trust our leaders, the Fed, Treasury, nor the stock market. Unfortunately mom and pop who save money do."
The Philippines has a “Crypto Valley of Asia,” an initiative of the Cagayan Economic Zone Authority, the government agency responsible for managing the Cagayan Special Economic Zone and Freeport. An airport is now being planned for inside this economic zone to address the needs of its investors and crypto service providers. Many cryptocurrency exchanges have been licensed to operate within the zone. Airport Planned for Crypto Valley of Asia The Philippines’ Cagayan Economic Zone Authority (CEZA) has confirmed its plans to build an airport inside its “Crypto Valley of Asia.” According to Administrator and CEO Raul Lambino, the airport will cost between $60 million and $80 million. He was quoted by the Manila Times on Thursday as saying: The construction of a new airport is an important facility in the establishment and realization of the so-called Crypto Valley of Asia concept that we have embarked. The CEO explained that CEZA is now in talks with the country’s Department of Transportation and the Civil Aviation Authority of the Philippines which are responsible for licensing new airports. “We hope we will be able to realize this in the next three years,” he remarked. The Crypto Valley of Asia is a joint initiative by CEZA and private developer Northern Star Gaming and Resorts Inc. to provide a stable and safe region for blockchain developers and crypto exchange operators. The initiative is part of the government’s bid to foster a fintech ecosystem to attract international crypto and blockchain companies to set up shop in the country. Lambino believes that it will help the Philippines “become one of the major offshoring destinations for fintech and blockchain-related work.” Meeting Investors’ Demand According to Lambino, investors and companies operating within the Cagayan Special Economic Zone and Freeport have expressed concern over the lack of airport facilities since they need to get to the crypto valley as quickly as possible. However, the nearest airport to the economic zone, the Cagayan North International Airport, is 80 kilometers away. The CEO noted that a master plan and a feasibility study are currently being undertaken by an American company in collaboration with some of their local partners, the publication conveyed.
According to the Venezuelan government, millions of families have used the petro, the country’s national digital currency, to pay for goods and services. As shoppers rush to spend their coins, merchants are reportedly struggling, effectively forced to sell goods at a deep discount. At least one merchant is said to have been arrested. petro Adoption Rises The Venezuelan government announced on Jan. 4 the successful use of the petro (PTR) for payments between Dec. 18 and Jan. 3. According to the announcement, 2,585,755 transactions were conducted using Biopagobvd, the biopayment system of the Bank of Venezuela which allows people to pay with petros at stores. The government also claims that 1,233,093 people paid with the digital currency at 7,422 stores throughout the national territory during that time period. In addition, Maduro said on Jan. 1 that almost 6 million families have used the petro as a payment method. The Bank of Venezuela, in collaboration with the National Superintendence of Cryptoassets and Related Services (Sunacrip) and the Patria platform, is now making “improvements in its systems for more efficient use of the petro wallet.” The payment system is currently offline for maintenance from Jan. 4-10 “for the adoption of new applications and options,” the Venezuelan government detailed. Merchants Forced to Accept Petros, Effectively Selling Goods at Discount The situation is reportedly not rosy for merchants. According to Purse.io’s head of support, Eduardo Gomez, “The merchants are forced to accept the petro as payment at a fixed rate (2.5 million VES/PTR), whereas you can buy the token in the open market for as low as 1 million VES/PTR.” The Venezuelan explained on Dec. 29: In other words, you can get a 50% profit by buying cheap petro and spend it at the merchants. Subsequently, “The orderbooks in exchanges that trade petro are full in the sell-side and empty in the buy-side,” Gomez continued. “People get a subsidy in the form of a shitcoin in a depressed economy, and merchants are forced to accept the worthless token.” When customers pay with the petro, merchants do not receive the digital currency, however. The Biopago system converts petros into bolivars (BsS) at a set exchange rate and pays the merchants in BsS. The Bank of Venezuela repurchases customers’ petros at its own set rate. Merchants receive petros thinking they are worth $60 a coin. However, according to a calculation by one Twitter user, they actually receive approximately $38.2 worth in bolivars per petro after conversion.
Chinese law enforcement recently busted 72 individuals connected to the Cloud Token (CTO) scam. The Ponzi was similar to the Plustoken fraud and CTO scammers made off with $500 million. According to regional press, the CTO scam artists are likely connected to the Plustoken swindlers. Moreover, after the Cloud Token arrests in China, police in Inner Mongolia warned the public about another MLM crypto project.
On December 10, Switzerland-based firm Amun AG announced the company’s base prospectus has been approved by the Swedish Financial Supervisory Authority (SFSA). The ETP provider said it has extensive plans to expand its digital asset ETPs throughout Europe, while Sweden shows “strong demand” for these products.
+On November 15, shortly after 12 p.m., Bitcoin Cash (BCH) will execute an upgrade of the network’s consensus rules. After the upgrade is locked in, the next block will enforce minimal pushdata in script and the opcodes OP_Checkmultisig and OP_Checkmultisigverify will be upgraded to accept Schnorr signatures. Delivered Code Next Friday, Bitcoin Cash proponents will be watching the BCH chain upgrade the current consensus ruleset in order to add two new features. Developers have been discussing the upgrade for months now and have explained in great detail at developer meetings how the changes apply to the BCH roadmap. Since August 1, 2017, BCH developers have produced a significant number of protocol developments that are unique to BCH. For instance, BCH engineers have increased the block size to 32MB, allowing for a lot more throughput than a 1MB block. In September 2018, BCH surpassed BTC’s daily transaction count by processing millions of transactions in a single day. Bitcoin Cash programmers have re-enabled the old Satoshi opcodes, which can allow for a variety of decision-based transactions, compilers, and other functions. The added opcodes allow for the implementation of OP_Checkdatasig which can be used to calculate the hash within a transaction in order to validate signatures in an automated way. Bitcoin Cash developers also increased the network’s default Data-Carrier-Size to 220 Bytes.
A viral video taken at a Las Vegas event has put self-claimed “Bitcoin co-founder” Jörg Molt in the spotlight this past week. A Twitter user in the space known for hair trigger accusations calls Molt a scammer in the video, and Molt proceeds to knock off the guy’s baseball cap. Amusing as the sophomoric dumpster fires of crypto Twitter may be, Molt’s story is illustrative of all-too-common behavior in crypto worthy of focused caution. Before forking over fees for Molt’s Satoshi School courses or bitcoin branded champagne, be sure to know the real story beneath the great head of hair.
The world’s largest crypto derivatives exchange Bitmex has accidentally doxed tens of thousands of its users. An email newsletter concerning forthcoming updates to Bitmex indices CC’d a large proportion of the company’s mailing list, exposing the addresses of its users to the public. In a second embarrassment, Bitmex had its Twitter account hacked shortly afterward.
Digital currency markets have seen a strong price spike on Friday, adding billions to the overall market capitalization of the entire cryptoconomy. The surprise upward trend shows a few of the top-performing cryptocurrencies have gained between 10-20% in the last 24 hours.
On October 23, Bakkt’s physically-settled bitcoin futures contracts touched an all-time high with 640 BTC ($4.8 million) swapped on the exchange. Coincidentally, the futures action started after BTC prices plummeted to $7,365 across global exchanges. After the record-setting day, Bakkt CEO Kelly Loeffler revealed the trading platform will offer options on bitcoin futures this December.