The Week in Review of Bitcoin Magazine brings you the most important, interesting, and popular news stories about Bitcoin this week. Darknet Markets Can’t Live Without – or With – Bitcoin. Many people think of Bitcoin when they think about the dark web platform Silk Road, which was one of the most notorious digital marketplaces in the world. Silk Road allowed illegal products to be sold for Bitcoin. Bitcoin might not be the best medium of exchange for privacy. However, the Bitcoin blockchain can provide crucial transaction evidence to law enforcement officers. This article explains how the dark web and the world’s most important crypto asset have developed an intricate relationship.
Bitcoin in Africa
Why African Countries Lead in Bitcoin Searches, and What This Means for Adoption. Recently, the African cryptocurrency market has been buzzing. The rest of the world is beginning to look to Africa as the next frontier in cryptocurrency adoption. Binance Research recently revealed that there was a spike in Google searches for “Bitcoin” in Nigeria and South Africa. This has sparked speculations.
Bitcoin Magazine spoke to Marius Reitz, a cryptocurrency exchange Luno, and liquidity provider BitPesa about the rise in cryptocurrency interest in Africa and what it could mean for adoption. Why Bitcoin is the Perfect Haven for Argentines During This Economic Crunch
Argentína
Argentina has struggled for decades with economic development. The Argentinian economy has been either declining or growing at an insatiable pace for decades. Many people have lost faith in Argentina’s fiat currency because of its economic development. Instead, Argentines are now focusing their attention on the U.S. Dollar. To curb this dependence, the government announced a strict forex policy that restricts the amount of USD citizens can buy. This has raised questions from those who want to preserve their wealth in other ways.
This article will discuss how Bitcoin can help Argentines through this difficult time. Coinkite provides everything you need to build your own coldcard wallet. Coinkite, a manufacturer of hardware wallets, has published a manual that allows people to build their own Coldcard wallets. Rodolfo Novak, chief executive of Coinkite, spoke to Bitcoin Magazine. He stated, “We encourage advanced user to make a unit and publish their findings. It’s one the best methods to verify code/hardware.”
The firm hopes that by helping people to take control of their asset storage, it can offer a forum for improvement. Feedback and user actions will be leveraged in order to make the platform better.
The Ledger Nano X hardware wallet is a formidable one. But what makes it stand apart? The Nano S is a compact, slimmer version of most of its predecessors, and features a unique Bluetooth connectivity feature. This comprehensive video review will show you why the Nano S cold wallet is a must-have item for bitcoin investors.
Bitcoin Magazine met Tone Vays at the Transylvania Crypto Conference, Cluj, Romania. Tone is a popular analyst and derivatives trader in cryptocurrency. He has been criticized for charging 0.3 BTC per hour (about $3,075 at the press time) for consulting fees. We spoke to him about technical analysis, Bitcoin regulation, and other topics.
TRON CEO
Justin Sun, Tron’s CEO, announced recently that he won an eBay charity auction and will be having lunch with Warren Buffett, a renowned investor and Berkshire Hathaway CEO. Warren Buffett had held the auction for 20 years. Sun reportedly bid a record $4,567,888 in order to win the auction.
The auction’s entire proceeds will go to the San Francisco-based non profit GLIDE foundation. This foundation focuses on fighting inequality and injustice for economically disadvantaged and oppressed communities, including those of LGBTQ orientation and those from ethnic minorities.
Sun’s press release states that “BitTorrent’s US headquarters are located in San Francisco, so bidding on this charity auction was a top priority for our team.” My bid was donated to GLIDE, a foundation that provides vital support to our local homeless community.
Buffett Position
Buffett’s position on cryptocurrencies. This event is made more interesting by the fact that Buffett openly stated that he doesn’t see any “unique value” in Bitcoin, the largest cryptocurrency in the world. Sun said that he had pointed out the potential of blockchain, the technology behind all cryptocurrency. I see the upcoming luncheon with Buffett as an opportunity for mutual understanding and growth.” Sun also stated in an Open Letter on Tron’s Medium Page that he is a long term believer in Buffett’s long-term value investing strategy. The outcome of the meeting is highly expected to be either Sun convincing Buffett about the unique value of several cryptocurrency or a further skepticism by the latter.
But, Buffett’s assistant said, “I’m delighted that Justin has won lunch and I look forward to meeting him with his friends.” We’re going to have a great time, and Glide will use that contribution to help many thousand of people.”
Community Reactions
Sun posted on Twitter that he planned to invite industry leaders in the blockchain community to dine at Buffett’s place, calling him “a titan of investments”. Binance CEO Changpeng Zhao declined Justin Sun’s invitation to a charity lunch with Buffett. Unknown fact: The charity auction winner can bring up to seven people along with him. He tweeted that Buffett would eat a lunch funded by “rat- poison”, in reference to Buffett’s earlier comment about Bitcoin being “rat poison squared”.
Buffet will eat a lunch funded by “rat poison”, I suppose, lol. What if crypto entrepreneurs bought him lunch for the next ten years? $50m at net value, a decent sized ICO. Although this was a strong statement against Warren Buffett, he received a lot of support from his followers via Twitter comments and retweets. Many skeptics also pointed out that Buffett had once viewed Amazon as an internet bubble, and was wrong on similar lost opportunities. They suggested that Buffett could also be wrong about his predictions and estimates of Bitcoin and the cryptocurrency market.
Marketing Gimmick
Others pointed out that this was a marketing ploy for Tron. The graph below shows how Google searches for ‘Justin Sun (the blue line), and ‘cryptocurrency (the red line), soared within a short time after the announcement. Meltem Demirors shared similar thoughts in a tweet, which applauded the bid for being a smart move in the blockchain marketing game.
The news of Warren Buffett’s lunch with him allegedly helped boost TRX’s market cap by 20%, or approximately $500M. Many also pointed out on Twitter that the ROI of the $5M upfront investment was a smart financial move.