Skeleton Bitcoin
Bitcoin,  Europe,  Innovators,  Media,  Ripple

Must-reads for October 29, 2018: Bitcoin might be a threat to democracy but may be replaced and no one cares anyway

These are the crypto stories you should be following today

Is Bitcoin Secretly Messing with the Midterms? (Politico)
According to Betteridge’s Law, “Any headline that ends in a question mark can be answered by the word no.” This is no exception.


Bitcoin seems indestructible but is another cryptocurrency about to take its place? (The Independent)
According to Betteridge’s Law, “Any headline that ends in a question mark can be answered by the word no.” This is no exception.


Bitcoin Can Boast Incredible Stability, But Interest Also Hits a Low (Today)
Bitcoin’s low volatility is coinciding with a drop in Google searches for the term “Bitcoin” (it’s at its lowest since May 2017). Does that explain everything? Probably not, but the term “pot stocks” is a pretty popular search right now.


A New Token Is Coming To Ethereum – And It’s Fully Bitcoin-Backed (CoinDesk)
Several years ago, KFC launched a sandwich called the “Double Down”. It was a bacon cheese sandwich but instead of a bread bun, it was sandwiched in between two pieces of fried chicken. Obviously, this wasn’t the healthiest meal out there. One can’t help thinking about it when reading this story on the “wrapped bitcoin” token (WBTC), which is kinda like a stablecoin backed by Bitcoin. Good luck with that, folks.


Blockchain startup hires away Google’s messaging tech leader (Reuters)
Ripple Labs his hired Amir Sarhangi, who was running Google’s wireless messaging system (rich communications services or RCS) to be its new VP of products. That sucks for Google because, “The standard is seen as a successor to SMS texting as it better handles sending multimedia and commercial messages, such as receipts and airline boarding passes, over cell networks,” writes Reuters’ Paresh Dave.


Brewdog has opened a bar in Canary Wharf that accepts Bitcoin (The Drinks Business)
London finance types who make their money can now buy their pints with BTC. “The brewer, which opened its Canary Wharf pub on Friday, has also released a new draft beer, for which the price correlates with the movement of the Financial Times Stock Exchange 100 Index,” writes The Drink Business’ Edith Hancock. Nothing is more fun that not knowing what your booze will cost you when you walk through the door.


Economic Development Ministry initiates adoption of ‘cryptocurrency concept’ in Ukraine (Ukrinform)
Ukraine is going to come up with a crypto policy by 2021, according to its government. That will mean defining words like: “virtual currency” (“cryptocurrency”), “virtual assets”, “ICO / ITO”, “mining”, “smart contract”, and “token.” Cointelegraph has a rundown on some recent moves in the country’s Rada (parliament) and attempts by the National Bank of Ukraine to come up with a regulated cryptocurrency.

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Lawrence Lewitinn, CFA was the founding editor in chief of Modern Consensus. Disclosure: Lewitinn owns no cryptocurrencies in his portfolio.