Facebook ‘Exploring’ Making Its Own Cryptocurrency, Media Report | The World News , 9 May

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The World News Point
📺 09 May 📺

Facebook ‘Exploring’ Making Its Own Cryptocurrency, Media Report

"Facebook is reportedly “exploring” the creation of its own cryptocurrency, news media outlet Cheddar reported May 11.

According to Cheddar’s anonymous sources, people “familiar with Facebook’s plans,” the social media giant is “very serious” about plans to launch an in-app virtual coin.

The unconfirmed information comes the same week the platform announced that David Marcus, head of its Messenger app, would transfer to heading a dedicated blockchain research group.

Marcus’ appointment to Blockchain operations was immediately conspicuous, the executive previously having worked in the finance sphere for PayPal and subsequently joining US cryptocurrency exchange Coinbase’s board in December 2017.

At the time, Coinbase CEO Brian Armstrong praised Marcus’ cross-industry background in both payments and mobile communications.

The move nonetheless provides for a curious juxtaposition for Facebook, the platform having banned cryptocurrency-related advertising across its network in January. Also citing “misleading or deceptive promotional practices,” the ban was copied by both Google and Twitter soon after."

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https://cointelegraph.com}

German online bank uses Bitcoins to transfer loans

"Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost.

“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,” Albrecht told Reuters TV in his office in Berlin’s fashionable neighborhood Prenzlauer Berg. “With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”

Clients hold the loans in digital tokens like Bitcoin only for seconds or minutes until they are exchanged back into the currency of the country where they wish to receive the funds, avoiding the crypto currencies fluctuating exchange rates."

_{Read more:
https://www.reuters.com}

Almost Irresponsible’ to Not Invest in Bitcoin: Billionaire Mike Novogratz

"On Wednesday, Novogratz’s firm and Bloomberg launched the Bloomberg Galaxy Crypto Index, an index that tracks 10 cryptocurrencies, including bitcoin and Ethereum.

Investing in cryptocurrency is important not on account of expected gains, Novogratz said, but because in two to four years blockchain technology, which allows companies to make and record near instant transactions, will be challenging every vertical.

While the decentralized version of Uber may not be Uber, it will be a challenge and it constitutes a “real value proposition,” he said.

Novogratz, a former hedge fund manager at Fortress Investment Group and Goldman Sachs partner, said he has invested 10% of his net worth in cryptocurrencies"

_{Read more:
https://www.ccn.com}

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis, May 11

"Unlike 2017, the rallies in most major cryptocurrencies this year has been subdued. We believe that they are forming a bottom, which can take anywhere from a few weeks to a few months.

During this process, the price will remain volatile as the bulls, and the bears battle it out to establish their supremacy. The supportive news will see prices move up while adverse news can lead to a decline.

The latest set of news that influenced the decline for most cryptocurrencies is the investigation of South Korean exchange Upbit by the country’s Financial Supervisory Commission (FSC) and liquidation of Bitcoin by the executives in charge of refunding users affected by the collapse of the former Japanese exchange Mt.Gox.

The news on the fundamental side has also been positive with many financial institutions planning to enter cryptocurrencies, but it is still not reflecting in the price.

Investment research firm Fundstrat believes that this will soon change and Bitcoin can reach $36,000 by end-2019. They have projected a probable range of $20,000-$64,000. Even if Bitcoin only reaches the lower end of the range, it will return about 125 percent from the current levels.

Let’s see whether we should buy the current dip or wait it out."

_{Read more:
https://cointelegraph.com}

Irish University Study Calls For Government Action To Promote Blockchain In The Country

"The authors of a study at the National University of Ireland (NUI) Galway on the adoption of blockchain in Ireland, called on the government to promote the technology more broadly in the country, The Irish Times reported May 11.

The study proposes recommendations to increase blockchain awareness and adoption, that can reportedly have a positive impact on economic growth and establish a basis for how the government and Irish organizations carry out business.

Dr. Trevor Clohessy at NUI Galway, who led the research, called for government action to promote blockchain in Ireland through the development of a national initiative:

“...Beyond business, other beneficial uses of this technology would be in voting machines and ballot boxes to address electoral fraud and potentially looking at a blockchain enabled technology-controlled border identification system that could provide a possible solution to the current North/South Brexit border challenges.”"

_{Read more:
https://cointelegraph.com}

Research Confirms Cryptojacking Remains Very Popular Among Criminals

"It has been a while since cryptojacking made media headlines. This nefarious activity allows criminals to exploit website visitors’ computing resources to mine cryptocurrencies without consent. A new report by Troy Mursch suggests Coinhive’s code is active on close to 400 websites. In most cases, this code was injected by criminals, rather than by the site owners."
_{Read more: https://themerkle.com}

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