Unbankd Newsletter: 09/24/2018 -
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<div style="color:#fff;font-family:Helvetica, Arial, sans-serif;font-size:15px;font-weight:bold;background-color:#60e1c1;padding-top:3px;padding-bottom:3px;padding-right:7px;padding-left:7px">FOLLOW UP</div>
<h1 style="font-family:Arial;font-size:20px;color:#000000;font-weight:bold;line-height:25px">The Latest Bitcoin Bug Fix is an Important Lesson for Crypto</h1>
<img src="https://images.pexels.com/photos/239898/pexels-photo-239898.jpeg?cs=srgb&dl=working-internet-technology-239898.jpg&fm=jpg" width="100%" style="margin-bottom: 5px;margin-top: 5px" alt="102369471-187884864.jpg?v=1530908433"><br/>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">Taking responsibility</h4>
<p style="font-family:arial;font-size:16px;line-height:20px">Last week, it was revealed that Bitcoin had a major bug that miners could have exploited to inflate the supply of Bitcoin past 21 million Bitcoin.<br>
<br>After drama circulated the community and many begin pointing fingers, Bitcoin developer John Newbery stepped forward as the reason the bug went unnoticed.</p>
<p style="font-family:arial;font-size:16px;line-height:25px">In a tweet posted yesterday, Newbery took the blame: </p>
<img src="https://gallery.mailchimp.com/f8f54dbeb4acc00986a80dfdc/images/da9232fb-b458-4c53-ac93-fe04b4f277e4.png" width="80%" alt="da9232fb-b458-4c53-ac93-fe04b4f277e4.png"><br/>
<p style="font-family:arial;font-size:16px;line-height:20px">
<br>However, the truth is, the entire community is responsible for the problem.</p>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">We can't point fingers</h4>
<p style="font-family:arial;font-size:16px;line-height:20px">There is no single person to blame for any Bitcoin bug. That is the power behind Bitcoin consensus.<br>
<br>In a self-regulated environment like Bitcoin, the community is responsible for reviewing and verifying the changes made to the network. While developers play a key role in creating the code, they are only part of the process.</p>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">An end to arrogance</h4>
<p style="font-family:arial;font-size:16px;line-height:20px">In addition to pointing fingers at Newbery for his mistake, conflict arose between the Bitcoin and Bitcoin Cash communities as supporters of the cryptocurrencies took shots at each other.<br>
<br>Ironically, however, it was revealed that a Bitcoin Cash developer actually discovered Bitcoin's vulnerability and drafted a responsible disclosure.<br>
</p>
<p style="font-family:arial;font-size:16px;line-height:25px">Cobra, the owner of Bitcoin.org, shared his thoughts on the matter:</p>
<p style="font-family:arial;font-size:16px;background-color:#8CEFD6;padding-top:6px;padding-bottom:6px;padding-left:12px;padding-right:12px;text-align:center;line-height:20px">
<i style="color:#000">"Turns out a Bitcoin Cash developer saved Bitcoin from one of its worst and most dangerous bugs ever. Let this be the end of the arrogance and hubris of the Core development team and their cult followers. Both communities are more powerful working together, not against!"
</i>
</p>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">A short reminder</h4>
<p style="font-family:arial;font-size:16px;line-height:20px">In closing, let this be a reminder that the true enemy is the banks, corporations, and governments who have taken rights away from the people<br>
<br>...not other cryptocurrencies within the community.</p>
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<h1 style="font-family:Arial;font-size:23px;color:#000000;font-weight:bold;line-height:25px">Winklevoss' Exchange Gemini is Looking to Enter the UK Market</h1>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">Expanding beyond the United States</h4>
<p style="font-family:arial;font-size:16px;line-height:20px">According to the <a href="https://www.ft.com/content/65632302-bf4a-11e8-8d55-54197280d3f7" style="color:#000">Financial Times</a>, Gemini's creators, the Winklevoss brothers, are looking to enter the UK market.<br>
<br>So far, Gemini hasn't stated anything official but sources close to the matter say the US exchange has now hired advisors to oversee a possible UK expansion.</p>
<p style="font-family:arial;font-size:16px;line-height:25px">However, Gemini told FT it has no "immediate plans" but continued:</p>
<p style="font-family:arial;font-size:16px;background-color:#8CEFD6;padding-top:6px;padding-bottom:6px;padding-left:12px;padding-right:12px;text-align:center;line-height:20px">
<i style="color:#000">"[We] continue to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community."
</i>
</p>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">Getting the green light</h4>
<p style="font-family:arial;font-size:16px;line-height:20px">To effectively enter the UK market, the exchange must be on the same page as regulators.<br>
<br>According to one source, Gemini is "close to" filing an application to practice under the Financial Conduct Authority (FCA).<br>
<br>The new report about Gemini's expansion comes just after UK Members of Parliament pushed the FCA last week to begin regulating the crypto environment effectively and bring light to the gray area.</p>
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<h1 style="font-family:Arial;font-size:23px;color:#000000;margin-bottom:0px;font-weight:bold;line-height:25px">Alex Jones' Infowars May Switch to Accepting Cryptocurrency After Being Cut Off by PayPal</h1>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">PayPal gives Jones the boot</h4>
<p style="font-family:arial;font-size:16px;line-height:20px;margin-top:10px">
Following the actions of other tech giants, PayPal is now the latest company to ban Alex Jones from its payment processor platform.<br>
<br>According to a PayPal spokesman, an "extensive review" of Jones' Inforwars site was conducted and PayPal "found instances that promoted hate or discriminatory intolerance."<br>
<br>Following the review, PayPal made the decision to ban Infowars from its service and gave Jones 10 days to find a new payment processor.
</p>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">Turning to cryptocurrencies</h4>
<p style="font-family:arial;font-size:16px;line-height:20px;margin-top:10px">
In protest, Jones' followers are now reportedly calling for Infowars to start accepting cryptocurrencies as a form of payment.<br>
<br>Though nothing has been officially announced, many are pointing to Coinbase Commerce as a possible option to process crypto payments without the need for a middleman.<br>
<br>
However, it is unclear if Coinbase can control API access and deny Jones from using its platform like a handful of Silicon Valley businesses already have.
</p>
<h4 style="font-family:arial;font-size:18px;color:#000000;margin-bottom:0px;font-weight:bold">The beauty of crypto</h4>
<p style="font-family:arial;font-size:16px;line-height:20px;margin-top:10px">
The complete freedom to transact without a central authority is why cryptocurrencies are remarkable and whether you agree with Jones' opinions or not, no one can stop him from receiving crypto payments.<br>
</p>
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<br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://whalereports.com/unbankd-newsletter-09-24-2018/ </em><hr/></center>
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