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The Democratic Republic of Congo’s powerful Catholic Church denounced the official vote tally on Thursday, stepping into a dispute that threatens the possibility of the country’s first democratic transfer of power since independence.
WSJ.com: What’s News Europe
The quick development of pilotless aircraft has captivated throngs of industry executives with its possibilities, promising services like drone-based package delivery, rescue drones and drone taxi services. But that promise has been overshadowed at times by incidents like the one this week at Gatwick Airport.
WSJ.com: US Business
In today’s Chatter Report, Erik Voorhees criticizes cryptocurrency-focused venture capital firms for reneging on their signed term sheet deals. Also, Steve Patterson calls out Amaury Sechet over Chris Pacia’s comment that miners don’t vote. Lastly, imaginary_username contemplates on the different roles of miners and users in Bitcoin.
Crypto Venture Capital Firms Renege on Term Sheets
Founder of Digital Currency Group Barry Silbert revealed on Twitter recently that Venture Capital firms that invest in cryptocurrency-related startups have been reneging on their signed term sheet deals.
We've seen half a dozen fundraising deals fall apart over the past month after the lead pulled out. All is not well in crypto VC investor land
Good time to remind founders that a signed term sheet does not equal cash in the bank
— Barry Silbert (@barrysilbert) December 12, 2018
Silbert later pointed out in the comments that most large deals were unaffected by this phenomenon. However, it’s the smaller deals like the seed, series A and series B rounds that are being reneged.
The decision of VC firms to pull out of their investment deals drew sharp criticism from the CEO of Shapeshift, Erik Voorhees. Voorhees was quick to point out that the VCs seemed to be the antithesis of “smart money”.
The VCs disappear when markets are down, and flood back in when markets are up. Are they not supposed to be the smart money? Their investing instincts seem little better than the Coors drinkin’ taxi driver all excited about Tron three weeks before the bubble pops. https://t.co/8YTcim5iKQ
— Erik Voorhees (@ErikVoorhees) December 13, 2018
Voorhees did not hold back on criticism and even compared the investment decisions of the VCs to an average Joe who FOMOed into buying a Tron right before the price dumped.
Bitcoin pundit Steve Patterson called out the BCH community over Openbazaar developer Chris Pacia’s statement that miners don’t vote. Patterson saw this as a huge deviation away from Satoshi Nakamoto’s statement in the whitepaper that “[Miners] vote with their CPU power“.
"Any needed rules and incentives can be **enforced** with this consensus mechanism"
Make sure you have the basic down before we can go further. Miner vote on *state* to solve the byzantine general problem. Miners also *enforce* rules. Miner do not vote on rules.
— Deadal Nix (@deadalnix) December 12, 2018
Lead developer of Bitcoin ABC Amaury Sechet fired back, arguing that miners “enforce rules” and gave the analogue that miners vote as much as Walmart votes on the products on its shelves.
Existential Thoughts on Roles in Bitcoin
The conversation then took a slight detour as crypto Twitter began contemplating the role of miners and users in the Bitcoin ecosystem. BCH pundit imaginary_username jumped into the discussion to quote Pirate Party Founder Rick Falkvinge and explained “everyone is free to do anything, and you may not tell others what to do” in Bitcoin.
They are people too and are free to follow the latest block they want… the fact remains that the users do *not* have to follow what they follow.
To paraphrase @Falkvinge , "everyone is free to do anything, and you may not tell others what to do".
— imaginary_username (@im_uname) December 13, 2018
Imaginary_username then elaborated on the idea of all parties being free and explained that exchanges, businesses, customers and investors all do as they please. This is because miners are unable to coerce users with guns and threats of violence the way politicians enforce rules against their own citizens in a democracy.
What do you think of venture capital firms reneging on their signed term sheet deals? What about the roles of miners and users in Bitcoin? Let us know in the comments below.
Images courtesy of Shutterstock.
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Google has just published its annual Year in Search query statistics for 2018 and the biggest question of last year was “What is Bitcoin?” According to Google Trends, searches for the term “Bitcoin” have declined rapidly since 2017, but web users querying its definition led internet searches last year.
2018’s Most Asked Question of the Year — What Is Bitcoin?
In 2017, one of the biggest terms searched on Google was “Bitcoin” as the price rose significantly throughout the whole year. However, following all-time highs, bitcoin prices declined exponentially in 2018, losing roughly 80 percent of the gains captured up until Dec. 17, 2017. With the price decline in 2018, interest in the technology also lost momentum, as reflected in waning “Bitcoin” Google searches. There was one cryptocurrency related query that topped Google’s Year in Search results for 2018 however and that was: “What is Bitcoin?”
In more populated regions like the U.K. and the U.S., people pondering the definition of Bitcoin has outpaced questions about the GDPR, Ibex, government shutdowns, upskirting, and the video game Fortnite. Asking what bitcoin is was questioned the most in Nigeria, Ghana, South Africa, Australia, and the U.S. People also asked what Ethereum is and searched for information on Bitcoin forks as well in the related queries section. Other related topics include the “stock market,” “exchange-traded funds (ETF),” and cryptocurrency “debit cards.”
Cryptocurrency Apps Are Still Trending
Search for “What is Bitcoin?”, at least in the U.S, and the browser provides a definition of the technology. “[Bitcoin] is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank,” explains the search engine. This definition is followed by a slew of Bitcoin-related Youtube video explainers, pictures of the digital currency’s symbol, and a wide variety of editorials that detail what Bitcoin actually is and what it means to certain authors.
These days people love to see data that stems from Google trends and other large corporations like Apple. The California tech giant Apple recently released its 2018 top app store applications and a platform that supports bitcoin, called the Cash App, was the 17th most popular free iPhone application. This week, the Cash App, developed by Square, also surpassed top payment platforms like Paypal on Apple’s app store. The Coinbase application has been a top cryptocurrency app as well multiple times in 2018. Many cryptocurrency platforms are also still capturing the top trending apps on the Google Play store.
Individuals Between 35-44 Have the Hardest Time Understanding Bitcoin
Google’s Year in Search statistics which highlighted Bitcoin evoke the audience intelligence report done by Pulsar back in March 2018. Over a certain period of time, Pulsar’s comprehensive study analyzed five million cryptocurrency mentions across popular social media channels. The underlying message within Pulsar’s survey indicated that mainstream audiences still are asking “What is bitcoin?” Furthermore, the research report says this question is asked by audiences of all age groups but people aged 35-44 have a particularly hard time understanding the technology.
So even though cryptocurrency markets have lost considerable value, the most popular 2018 search on Google pertaining to Bitcoin can at least give proponents confidence that the technology is still grasping the world’s attention.
What do you think about the question “What is Bitcoin?” topping Google’s 2018 Year in Search trends? Do you think this is a meaningful metric? Let us know what you think about this subject in the comments section below.
Images via Shutterstock, Google Browser, Google Trends, and Pixabay.
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The post Google Trends Reveals One of the Top Questions of 2018 — ‘What Is Bitcoin?’ appeared first on Bitcoin News.
The 1993 murder jolted not just the sports world but the nation: James Jordan, the father of NBA phenom Michael Jordan, was fatally shot and dumped in a South Carolina swamp. Two teens, Larry Demery and Daniel Green, were convicted and are serving life sentences. Green, however, is now asking…
The sentencing memo for former Trump National Security Adviser Michael Flynn doesn’t tell us if Flynn provided any information that would show collusion between the Trump campaign and Russia to influence the 2016 presidential election.
Migrants rushed the border, US authorities fired tear gas and a volatile situation that had been simmering for weeks boiled over. Here’s what we know about what unfolded and what could happen next.
CNN.com – RSS Channel – Regions – Americas
“You always have to be careful answering questions for people who have bad intentions,” President Trump said Friday as he told reporters that he has finished drafting answers to questions from special counsel Robert Mueller, who is investigating Russian interference in the 2016 election and any possible involvement Trump’s campaign…
An increasingly vocal chorus of international voices is questioning the Saudi version of events that led to the death of prominent journalist Jamal Khashoggi in his country’s consulate in Istanbul almost three weeks ago.
CNN.com – RSS Channel – World