Tim Draper Still Up Despite Market Bearish Trend Of 2018

Tim Draper is probably one of the most recognizable names in the whole crypto space.

For those who does not know, Tim Draper is perhaps the most fervent crypto investor and one of the most bullish investor of Bitcoin.

According to reports Draper saw value with digital currencies 15 years ago but has not seen any viable medium then.

This is until he was introduced to Bitcoin by Peter Vincennes, chief executive of Coinlab.

Almost immediately Vincennes and Draper hit it off immediately with Draper asking Vincennes for $250,000 worth of Bitcoins (BTC).

However he lost his $250,000 worth of BTC when Mt. Gox collapsed where he was holding his coins.

Fortunately he was able to get more BTC when the U.S. Marshall’s office auctioned nearly 30,000 BTC and he was able to purchase the lot for $18.74 million USD.

Since then he has been overly optimistic about cryptocurrencies and technologies that are related to the asset class.

Some investors are saying that he is an irresponsible investor since he did not sell his stash of BTC when it reached astronomical highs during the 2017.

December cryptocurrency bull ran where it reach almost $20K USD.

BTC has since then dropped drastically which is currently trading at around $3,500.

Doing a quick computation even if Drapers liquidate now he will still be ahead of the game.

Truly the venture capitalist is doing just fine financially despite persisting bearish trend in the crypto space.

Cryptocurrency Launched To Fund President Trump’s Impeachment

The brother of the deceased Colombian drug lord Pablo Escobar, Roberto Escobar has reportedly initiated a crownfunding campaign for the impeachment of President Trump.

Roberto had setup a GoFundMe page but was quickly taken down by the site after raising more than $10 Million USD in just a few hours.

Despite this minor setback the older Escobar through his company Escobar Inc. launched ImpeachTrumpFund.com with the primary purpose of funding the impeachment of the U.S. President.

The website has set the target funding goal of around $50 Million.

People who wants to contribute can transfer funds via cryptocurrencies or bank transfers via swift.

An alternative way to contribute to the initiative is to participate in an Initial Coin Offering called ESCOBAR token.

The token sale is still under development but reports has indicated that the coin will be a stablecoin that is pegged to the USD.

The COO of Escobar Inc., Daniel Reitberg, the ESCOBAR token will be a better option than Tether (USDT), the most popular stable coin.

According to the COO ESCOBAR token is a better stablecoin since they have a much larger business sense than most other companies.

Newspaper Ad Asking Donations In Crypto For Baby’s College Fund

Only a week old but it seems that Izabelle Bowles perhaps has become the youngest ever holder of Bitcoin through the initiative of her parents Wiolette and Peter Bowles.

The parents of the child who was born just early this month, January 6, 2019, have listed an advertisement soliciting donations for the baby’s college funds.

What makes this particularly interesting is the fact that the forward thinking parents of the said child are accepting bitcoin donations and have posted a bitcoin address on the Times ad listings.

While this type of activity is nothing new in the crypto space, it is the first time a parent are asking donations for the future education of their child using bitcoin.

Currently the initiative seems to be progressing quite well as it already receive 0.84 BTC worth of bitcoin (BTC) from 75 transactions in the past few days.

It is a long way to go before it can reach the target donation as an average cost of a four-year brittish university education priced at $52,000.

With the current exchange rate of BTC she is already at 7% of this amount.

Izabelle will attend college in the year 2037 and we never know if the amount received might be enough to cover her education already at that time.

Malaysia Still To Decide On Cryptocurrencies Legality

It has been reported that Malaysia is still undecided on whether they will legalize cryptocurrencies or not.

What is clear though is that the subject matter is still up under consideration.

This is in direct contrast to other South Asian Countries that has stepped up their effort in regulating the emerging capital market and have already released some form of regulatory framework for the sector.

This is confirmed by the Malaysian Federal Territories Minister Khalid Abdul Samat.

According to him nobody is yet sure what would be the stance of the Malaysian government regarding cryptocurrencies.

He acknowledges that he has been involved in the launch of Harapin Coin however this does not mean that this is a nod from the Malaysian government.

He stresses that he is appointed as the federal territories minister not the finance minister.

This indecision has cause Malaysia to lag behind regional economic powerhouses.

Thailand has already pushing ahead with the Thai SEC recently issuing more licenses to crypto-related businesses.

Hong Kong and Singapore moving forward with new regulations that further legitimizes cryptocurrency, in their respective countries, as part of the financial market ecosystem.

As for Malaysia, it seems to be an eternal waiting game for the cryptocurrency enthusiast in the country that has move in early in the space to help the Malaysian cryptocurrency industry grow locally.

Tron’s Blockchain Cannot Scale With Bittorent’s Requirements

One of the former employees of Bittorrent has recently revealed that the capacity of the TRON blockchain will not be able to handle the sheer amount of transactions of the bittorent network.

Simon Morris was the former Chief Strategy Officer of Bittorrent before leaving the company in July 2018.

He added that it is perhaps more of a marketing effort than an actual technological innovation for the technology he adds.

The former employee predicts that the Bittorrent Token will use some kind of centralized server to process the transaction and be able to scale with the network of the bittorent network.

While this may not be necessarily a bad thing after all since the white paper of the token states clearly that it will utilized a permissioned and permissionless blockchain for the project, the enthusiast of investors has been affected by the revelation of the former employee.

Understandably not all are happy with this development as many as saying that the bittorent network has existed for years without the need for a dedicated token.

However Simon sees some advantages of tokenizing the bittorent platform as it is a way of making the network a faster by incentivizing people to keep seeding downloads.

The only problem is TRON blockchain is not fast enough for this so he says.

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