Simon’s in the studio with Sara Feenan.
First up, Bitfinex Raises Fiat Withdrawal Fee, New Hardware Wallet Announced. The Hong Kong-based cryptocurrency exchange now charges at least $60/€60, or 0.1 percent of the withdrawn amount. Users who want 24-hour money transfers on working days will have to pay a 1 percent fee.
Bitmain Faces $5 Million Lawsuit Over Alleged Unauthorized Crypto Mining. On Nov. 19, lead plaintiff Los Angeles County resident Gor Gevorkyan Bitmain, alleging that the firm’s devices use customers’ resources to mine cryptos for its own benefit prior to full setup. The Complaint read: “Bitmain’s ASIC devices are preconfigured to use its customers’ electricity to generate crypto currency for the benefit of Bitmain rather than its customers”.
The SEC’s Recent Rulings Are More About Exchanges Than ICOs. Earlier this month, an SEC director revealed that the agency plans to release “plain English” guidance for when a token is and is not a security.
Don’t Force Public Blockchains ‘Down Enterprises’ Throats’. Amber Baldet thinks it’s too soon for enterprise to meet open, decentralised blockchains: “We want to build those bridges out to the public networks, but I don’t think you get there by shoving public chains down enterprises’ throats before they are ready”. She believes that a gradual process of bridge-building between public chains and the private kind favored by corporations is needed.
Overstock surges 26% after CEO says it will sell retail business by February to focus on crypto. CEO Patrick Byrne plans to sell the retail arm of Overstock by February. Shares of Overstock surged as much as 26 percent Friday but the stock is down 66 percent this year.
Ohio ‘Appears’ to Be First US State to Accept Bitcoin for Taxes. The move initially applies only to businesses, with plans to extend the offering to individual taxpayers in future. The payments are reportedly set to be processed via crypto payments service BitPay.
SpankChain Has Paid Camgirls $70,000 Worth of Crypto in 6 Months. SpankChain boasted 6,136 active users as of October, and has paid roughly $72,422 in cryptocurrency to 31 webcam models since the site launched in April. Fellow performer Molly Mae Meow, who has been camming for more than six years, said she makes much more money on SpankChain, which only charges performers 5 percent of their earnings compared to the standard 50 percent across the industry.
We also have a great Tweet of the Week on Bitcoin regrets. Plus a sneaky, if explicit, contender from Colin G. Platt.
All this and so much more on this week’s episode of Blockchain Insider. And if you enjoyed our tweet of the week why not send us your best tweets? See if you can get a shout out on the show!
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This week’s episode of Blockchain Insider was produced by Laura Watkins and Petrit Berisha. Edited by Alex Woodhouse.