Newsflash: Tron schedules a big conference, Bittrex delisting BTS, BTG, BTCP while institutional investors believe crypto will go up in case of recession
As we step into the weekend, people are likely spending their time relaxing, either with their families or by visiting interesting tourist destinations. Well one destination just became a whole lot more interesting (at least for the average crypto owning tourist) as Prague, a city in Czech Republic known for its beautiful buildings, museums, galleries, memorials, walking tours became the top city in the world when it comes to the number of crypto ATM’s per inhabitant. This wasn’t the most interesting news tidbit of the day:
- Coinsoda fizzles out
In a well-noted and much-feared pattern, another crypto project seemingly performed an exit scam. Coinsoda.io, lauded as a “comprehensive cryptocurrency exchange providing an affordable and effective liquidation solution for new & old projects in need of a trading platform and exposure” is seemingly no more. Their website is gone and their Telegram, Medium and Twitter accounts are deleted. The disappearance was reported by a Reddit user Diqirenminbi. Some users noted their suspicious airdrop models and horrendous trading interface. Another Redditor PrinceKael suggests they were trying to sell off their website “a while ago”:
“CoinSoda were actually selling their website on Flippa a while ago. There’s a user on Reddit who kept trying to sell the domain but I never knew anything about CoinSoda and it just looked like a money-grab. The same user or group of users are now trying to sell other websites too. It looks like they just build websites, get a small following and then sell it to the highest bidder for a quick buck.”
Not much else is known about what seems to be the next crypto exit scam as of the moment of writing.
- 72% of institutional investors believe crypto prices would rise in a recession
A survey conducted by Fundstrat Global Advisors discovered that 72% of institutional investors polled believes that crypto prices would rise in case of another global recession like the one we had in 2008, reports newsbtc. First cryptocurrency Bitcoin was created as a direct result of people (namely the illusive Satoshi Nakamoto) losing faith in traditional banking establishment after a series of highly publicized gaffes made by some of the most prominent banks in the world plunged the global economy into a period of negative growth. Therefore the logical conclusion here is that another similar situation would cause investors to turn to crypto rather than hold their depreciating fiat currencies or other establishment-related instruments, right? The article above goes into detail why that might not necessarily be what will happen.
- Bittrex removing BTS, BTG and BTCP wallets
The well-known crypto trading platform Bittrex released the following newsletter to its customers:
“As a valued Bittrex customer, we wanted to inform you that on November 5, 2018, we are retiring wallets that do not have markets, including Bitshares (BTS), Bitcoin Gold (BTG), and Bitcoin Private (BTCP).
To keep your BTS, BTG or BTCP assets, you must withdraw your balance before Monday, November 5, 2018. After this date, your assets will be unrecoverable.”
The removal of these wallets coincides with the platforms routine “management for performance and operational efficiency,” implying that they clearly feel their resources can be spent in better ways than hosting these three currencies. For additional information read the related support article at: https://support.bittrex.com/hc/en-us/articles/360001391586
- Bitcoin rap song? That’s a thing
28-year old rapper and musician Soulja Boy, notable for his hit song “Crank That”, released a song titled Bitcoin on his latest album Young Draco. The track describes how Soulja “made [$1] million off of bitcoins” after seemingly buying the cryptocurrency at $6,000. This marks just one in line of many appearances Bitcoin had in songs of artists like Mims, Snoop Dog, Eminem and many others. And who better to motivate young impressionable people into buying cryptocurrency than their musical idols.
- Tron (TRX) To Host a 2 Day Developer Conference in San Francisco, January 2019
Justin Sun and the Tron (TRX) Foundation, had earlier on in the year hinted at the possibility of hosting developer conferences as soon as the project was Independent from the Ethereum platform. The team at the foundation have kept their word for they have launched a new website for the first ever TRON Developer Conference scheduled for early next year in San Francisco, California, USA.
