A Chinese cryptocurrency entrepreneur who paid $4.57 million at a charity auction for a lunch with Warren Buffett has missed the event over a bizarre series of health concerns that came amid the Chinese government’s crackdown on bitcoins.
Justin Sun, 29, founder of cryptocurrency startup Tron and CEO of file-sharing service BitTorrent, claimed that he was suffering from kidney stones on July 23, two days before the scheduled “Power Lunch with Warren Buffett” at the upscale Smith & Wollensky’s steakhouse in Midtown Manhattan.
A Chinese cryptocurrency entrepreneur is set to have lunch with Warren Buffett after making the winning $4.57 million bid at a annual charity auction.
Businessman Justin Sun, the 28-year-old founder of the cryptocurrency firm Tronix and CEO of peer-to-peer file sharing protocol BitTorrent, made his record-setting final bid of $4,567,888 at the 20th annual charity auction for a “Power Lunch with Warren Buffett.”
A school principal in Hunan province has been fired for creating a cryptocurrency mine operation in the school and raising the building’s electricity bills.
Lei Hua, a middle school principal in Chenzhou, purchased more than 10,000 yuan ($1,400) on equipment used to mine cryptocurrency. However, Hua did not realize that utility fees ran so high from running the equipment, and could not pay for them, according to Xinhua.
Thailand’s largest movie theater chain will now accept bitcoin and other digital currencies as forms of payment to buy tickets or even snacks.
Major Cineplex, in partnership with Swiss fintech developer RapidzPay, will establish gateways for customers who prefer to use cryptocurrency as a mode of payment. The latter firm will provide corporate and personal payment solutions using decentralized blockchain platform, according to The Nation.
With cryptocurrency exploding in popularity in recent years, many experts have been summoned by mainstream media to drop their sage wisdom for how newbies can get into crypto investing. This year, Forbes released the world’s first list of the richest people in cryptocurrency, which included early adopters like Brock Pierce, the Winklevoss Twins, and Tim Draper.
But what about regular folks not in the upper echelon of crypto investors? Meet Brenna Sparks, she’s a rising 25-year-old Laotian adult film star who’s racked up quite a fanbase not only because of her content, but for her tech-savvy tips on crypto investing. She was first introduced to Bitcoin in 2009 on the now-defunct online black market Silk Road. She was only 19 at the time.
Sentinel Chain is doing something revolutionary and disruptive for the small scale agricultural farmers of the world. The major problem of small farmers is they have a hard time securing financial services based on current stipulations to generate credit. These small, usually family operated smallholders are a driving force in the largest and most ancient of enterprises, but they need help because they have limited legalized assets. Sentinel Chain intends to provide that relief by building a business to business marketplace that allows the unbanked agricultural community to use livestock as a fungible asset.
“The poor are richer than they think” is the mantra used in Sentinel Chain. What farmers lack in legal recognized capital, they make up in having livestock or ‘dead capital’ which the current financial system does not recognize as a viable asset to obtain financial services like credit and loans. No current financial model has the capacity to recognize livestock as an asset that can used as collateral, and so farmers have a tough time making it through periods of uncertainty. For the poor farmers to unlock their true economic potential, sentinel chain will use blockchain technology to provide registration and insurance for livestock, which would allow the asset to have a clear defined value. By achieving this, the project can:
A new malware that mines cryptocurrency, first observed in South Korea, is spreading across the globe through Facebook Messenger, cybersecurity experts warned.
In a report published on December 21, researchers at Trend Micro, a cybersecurity firm headquartered in Tokyo, called the malware “Digmine” and announced that it has already spread to Azerbaijan, the Philippines, Thailand, Ukraine, Venezuela, and Vietnam.
Peter Saddington, an entrepreneur and co-founder of VINwiki, proves that you can actually buy ridiculously expensive things like a Lamborghini by using the cryptocurrency Bitcoin.
In his interview in October, Saddington went on to say how his November 2011 investment in Bitcoin got him the luxurious supercar, a second-hand 2015 Lamborghini Huracan.
Indonesian bitcoin owners are now being encouraged to take their profits off their cryptocurrency soon as the government is set to impose a national ban on bitcoin and all forms of cryptocurrency next year.
Bitcoin’s value has recently skyrocketed beyond the $10,000 mark, hitting an all-time high of $11,395 before dropping to low as $9,000 in less than 24 hours on Thursday, Reuters reports.
The Reserve Bank of India (RBI) remains steadfast in its stance on not using bitcoins — or any other cryptocurrency — as a form of payment in the country.
“Our current position on bitcoins is that we will not be using it for any payments and settlements…though the technology underlying cryptocurrencies will not end,” Executive Director of RBI, S Ganesh Kumar, said when asked about the matter at the FIBAC banking event, according to Money Control.
Vietnam is banning cryptocurrencies, subjecting offenders to fines and even criminal charges by 2018.
The State Bank of Vietnam (SBV) announced the ban on Saturday just after a private university declared that it accepts Bitcoin payments.
China has been making strides in the Bitcoin industry, and now South Korea is following suit as the country officially legalized international transfers and will soon have regulations regarding digital currency.
Earlier in July, Democratic Party of Korea Representative Park Yong-jin submitted three revisions of the Electronic Financial Transactions Act for Bitcoin users and businesses to further increase the growth of the market in South Korea.