Welcome to In Case You Missed It (ICYMI), a blazing quick set of phony bank accounts opened to charge you for services by your favorite bank manager, Linzerd. Bitcoin Maximalism is destroyed once again. The bear market left more than 1,000 crypto projects dead. Wells Fargo fined for scamming customers. Bitcoin difficulty shoots up, and Nouriel Roubini makes Changpeng Zhao fire expletives on Twitter.
Wells Fargo Scams Users, Opens Accounts Without Permission
Wells Fargo, the fourth biggest bank of the USA, will have to pay more than 500 million dollars in fines because it created phony accounts to collect clients for services and other customer abuses, according to CNBC. Curiously, the bank qualified crypto investment as risky and banned cryptocurrency purchases with associated credit cards to “protect” customers earlier this year.
Bernhard Mueller Stomps On Bitcoin Maximalism
1/ People often ask me why I’m so "against" Bitcoin. Why do I go out of my way to point out flaws or make analogies that put it in a bad light? pic.twitter.com/ygxKeD9nXZ
— Bernhard Mueller (@muellerberndt) December 29, 2018
Similar to Vitalik Buterin, Bernhard Mueller, an important product engineer, has answered tweet by tweet to a thread by Tuur Demeester about Ethereum’s problematic issues. Mueller substituted the words Ethereum for Bitcoin and vice-versa, changing papers and references to cherry-picked ones. He declared, “This tweetstorm is a parody with the goal of demonstrating that a maximalist argument can be easily constructed by cherry-picking facts, papers, and quotes.” Touche.
Bear Market Left Crypto Bodies All Around
The bear market is something real and has affected a number of cryptocurrency projects in a big way. Coinopsy and DeadCoins, two web portals that are constantly monitoring abandoned or forgotten cryptocurrencies have found more than 1,000 cryptocurrency projects abandoned last year, some being victims of disastrous market conditions.
Bitcoin Difficulty Shoots Up 10%
Bitcoin difficulty, a measure of how easy or difficult the equations needed to be solved for mining a block, has increased 10% in the last adjustment. This is due to the hash rate increasing, and so the Bitcoin Network balances itself. This is good news for the network which faced miners jumping ship due to unprofitability. However, prices have not gone up too much, and the actual price still makes mining inadequate for some regions depending on power tariffs.
Nouriel Roubini Makes Changpeng Zhao Curse
Oh fk off already. Lol. https://t.co/synH9wDuky
— CZ Binance (@cz_binance) December 31, 2018
The naming of Nouriel Roubini, also called Doctor Doom, as one of the most important cryptocurrency influencers of 2018 by CoinDesk, and the subsequent reaction of the economist calling himslef a “a leading critic of crypto and blockchain,” caused the CEO of Binance, Changpeng Zhao, to swear for the first time this year on Twitter. He lamented the supposed honor, as Roubini has been one of the most vocal crypto critics of all time.
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