#the number of good shows on network TV is rapidly dwindling

[sullenaquarian]

Two shows I watch and like (All Rise and The Unicorn) have been cancelled after 2 seasons. I really hope Zoey’s Extraordinary Playlist is not the third. 

#zoey's extraordinary playlist #all rise #the unicorn #the number of good shows on network TV is rapidly dwindling

[cryptowavesxyz]

India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

India’s Supreme Court overturns controversial ban on banks servicing crypto firms

There’s a lot to chew concerning movements in the crypto markets, but the first story is of a different kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned by the country’s Supreme Court. The Reserve Bank of India’s sudden move in April 2018 had proved calamitous for local businesses, with several exchanges closing because of the uncertainty. Three judges decided to strike down the ban on Wednesday — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India’s banking system at risk. It took less than 24 hours for two major exchanges to resume accepting deposits and withdrawals, but India’s crypto industry might not be out of the woods yet. A pending law that would ban cryptocurrencies is yet to be considered by parliament, and this could take businesses back to square one.

Bitcoin falls under $9,000 as coronavirus woes deepen

The stock market has continued its rollercoaster ride for a second week as coronavirus cases rapidly proliferate outside of China. Bitcoin was initially spared from the massive losses disrupting other assets — maintaining support over $9,000 for three consecutive days — but plunged below this level on Saturday. Other cryptocurrencies have also been suffering. Some analysts maintain that BTC will be able to shrug off coronavirus concerns, so its bull run can intensify in advance of block rewards being halved in May. Nonetheless, the outbreak seems to be weighing heavily on the minds of crypto traders. The bizarre search term “Bitcoin coronavirus” has now overtaken “Bitcoin halving” on Google Trends.

New governor of the Bank of England isn’t a fan of Bitcoin

It’s often difficult for the crypto world to find friends among central banks. Although he is an advocate for regulation, the current Bank of England governor, Mark Carney, appeared to be one of them — publicly giving his support for Libra and stating that he was open to central bank digital currencies. Given how he is stepping down March 17, there’s understandable interest in what his successor has to say… and, warning: It isn’t good. Andrew Bailey told a parliamentary committee this week that anyone who buys Bitcoin should be prepared to lose all of their money because it has “no intrinsic value.” He also warned that the cryptocurrency “hasn’t caught on as much as people predicted it would.” Bailey’s anti-crypto stance could indicate that the Bank of England’s attitude will change under his tenure.

Vitalik Buterin and Elon Musk back Jack Dorsey as Twitter CEO

Jack Dorsey is under fire. A billionaire founder of a hedge fund has acquired a 4% Twitter stake in an attempt to push for major changes at the social network, which would include Dorsey’s removal as CEO. Now, the pro-crypto executive is receiving support from major figures in the crypto industry. Vitalik Buterin publicly expressed his backing for Dorsey on Twitter, writing: “Twitter certainly has flaws but @jack has done a vastly better job than what I expect/fear from a hedge fund appointed CEO swooping in to replace him.” Musk also made his feelings known, praising Dorsey for having “a good heart.” It is not known whether these voices of support will hold sway. Activist investors believe Dorsey isn’t paying enough attention to Twitter because he is focusing on his crypto business, Square.

Only 1% of $1 trillion transferred in crypto last year was illicit, Chainalysis says

And the round-up ends with some surprising news from the blockchain analytics firm Chainalysis. The company has revealed that of $1.1 trillion in crypto transactions completed in 2019, just 1.1% were associated with illicit activity. The data implies that the industry is much healthier now than in previous years when much of the volume was associated with darknet markets. Figures show that exchanges remain popular targets for hackers, but their success rate has been dwindling ever since reaching an all-time high of $1 billion in thefts in 2018. Industry-wide cooperation and the involvement of law enforcement agencies are believed to have made the ecosystem more secure — even helping one hacked firm to recover some stolen funds.

Winners and Losers

At the end of the week, Bitcoin is at $8,262.24, Ether at $209 and XRP at $0.21. The total market cap is at $234,703,416,085.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Hedera Hashgraph, Ren and ABBC Coin. The top three altcoin losers of the week are Synthetix Network Token, Aelf and Ethereum Classic.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“The Supreme Court may look at the RBI’s review petition, but as of now, the cryptocurrency platforms can operate in India.”

Abhishek Rastogi, lawyer

“I think it’s still very much up in the air which blockchain will help get crypto from ~50M users to 5B.”

Brian Armstrong, Coinbase CEO

“Just want say that I support @Jack as Twitter CEO. He has a good [heart].”

Vitalik Buterin, Ethereum co-founder

“This [coronavirus] is the global financial crisis that will catapult the price to $100,000 and beyond.” 

Max Keiser, TV host and Bitcoin proponent

“Key thing is that you know from co-integration (100+ events) that BTC will probably go over $100K before Dec. 2021. How (slower/lower or faster/steeper) and exactly when is irrelevant.”

PlanB, crypto analyst

“I’m looking at around the $100,000 to $250,000 range depending on how long this bull market runs.”

Willy Woo, market analyst

“If you want to buy Bitcoin, be prepared to lose all your money… [Bitcoin] has no intrinsic value.”

Andrew Bailey, next Bank of England governor

Prediction of the Week

Coronavirus will send Bitcoin price to $100,000 in 2020, Max Keiser insists

As global stock markets take a beating because of the coronavirus, Bitcoin advocate Max Keiser argued that the health scare could be a blessing for the crypto sector. On his Keiser Report TV program, Keiser said BTC will hit six figures this year — and even went as far to say that JPMorgan CEO Jamie Dimon will be “begging” the U.S. Federal Reserve to buy some. Keiser described 2020 as “part two of the global financial crisis,” suggesting that part one was the 2008 crash that happened just before the white paper for Bitcoin was released. It might be a bit premature to take his prediction at face value — a week ago, crypto losses were very much in line with declines on the stock markets and in the price of gold. Meanwhile, the crypto analyst PlanB has said “100+ events” imply that Bitcoin will hit $100,000 in the next two years, adding: “How (slower/lower or faster/steeper) and exactly when is irrelevant.” Will their predictions be correct?

FUD of the Week

YouTuber sentenced to 50 years for kidnapping and demanding a Bitcoin ransom

A YouTuber has been sentenced to 50 years behind bars for masterminding a woman’s kidnapping in Mexico. German Abraham Loera Acosta, 25, is one of six men convicted over her abduction. The group had demanded $100,000 in Bitcoin in exchange for the release of Tania Denisse, a 33-year-old lawyer. Acosta had rented a house to hold the victim captive while they established communications with authorities over the internet. Although he was “very experienced” in browsing anonymously, detectives were able to track down the BTC that was eventually sent to the kidnappers. Denisse was later rescued, and the ransom money was recovered, along with a handgun and several mobile phones. Somewhat ironically, Acosta reportedly participated in the World Congress of Young Leaders for Peace in 2017.

Ledger wallet warns of fake Google Chrome extension stealing crypto

Ledger, a major cryptocurrency hardware wallet supplier, has warned users that a phishing attack is attempting to steal their crypto, using a Google Chrome Extension. The fake add-on seems to be asking unsuspecting victims to enter a 24-word recovery phrase to access their wallet. The fake extension is called Ledger Live and tries to mimic an authentic mobile and desktop application that allows users to approve transactions by synchronizing their hardware wallet with a trusted device. The dodgy extension now appears to have been removed from the Chrome Web Store, but not before it was downloaded at least 120 times. To compound the problem, the malicious tool was also advertised on Google Ads.

German financial regulator takes action against first Bitcoin ATMs

Want to buy some Bitcoin at an ATM in Germany? Not so fast. The country’s financial watchdog has halted the operations of a company that ran 24 machines across the country. Regulators said KKT UG didn’t have the necessary license to offer its services. Ultimately, it’s bad news for those who are hoping to use cryptocurrency ATMs in Germany, as they have long fallen into a massive gray area. Starting next year, crypto exchanges, custodians and wallet providers will need a license in order to operate — and they only have until June to submit an application.

Best Cointelegraph Features

Blockchain as a tool to combat coronavirus

The number of confirmed coronavirus cases continues to rise. As this feature explains, blockchain technology has a golden opportunity to make a considerable impact in limiting the outbreak’s ramifications.

Why betting on gold-backed stablecoins is a losing game

Gold has long been regarded as an eternal value — but storage costs a lot of money, and transporting the precious metal is fraught with difficulties. Gold-backed stablecoins have been touted as an effective solution, but as Gregory Klumov explains, many of them have been built on rotten foundations.

The history of the bitter debate over Ethereum’s ProgPoW

The Ethereum community has recently been engaged in a bitter debate sparked by a proposed mining algorithm change. Andrey Shevchenko has more.

Toxic Twitter tribalism: The fuel powering the crypto rocket?

Cointelegraph Magazine’s Stefan Stankovic examines meme warfare’s effect on blockchain development.

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The post India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8 appeared first on Crypto Waves.

from Crypto Waves https://ift.tt/39AiwHV

#IFTTT #Crypto Waves

[noisyunknownturtle]

India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

India’s Supreme Court overturns controversial ban on banks servicing crypto firms

There’s a lot to chew concerning movements in the crypto markets, but the first story is of a different kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned by the country’s Supreme Court. The Reserve Bank of India’s sudden move in April 2018 had proved calamitous for local businesses, with several exchanges closing because of the uncertainty. Three judges decided to strike down the ban on Wednesday — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India’s banking system at risk. It took less than 24 hours for two major exchanges to resume accepting deposits and withdrawals, but India’s crypto industry might not be out of the woods yet. A pending law that would ban cryptocurrencies is yet to be considered by parliament, and this could take businesses back to square one.

Bitcoin falls under $9,000 as coronavirus woes deepen

The stock market has continued its rollercoaster ride for a second week as coronavirus cases rapidly proliferate outside of China. Bitcoin was initially spared from the massive losses disrupting other assets — maintaining support over $9,000 for three consecutive days — but plunged below this level on Saturday. Other cryptocurrencies have also been suffering. Some analysts maintain that BTC will be able to shrug off coronavirus concerns, so its bull run can intensify in advance of block rewards being halved in May. Nonetheless, the outbreak seems to be weighing heavily on the minds of crypto traders. The bizarre search term “Bitcoin coronavirus” has now overtaken “Bitcoin halving” on Google Trends.

New governor of the Bank of England isn’t a fan of Bitcoin

It’s often difficult for the crypto world to find friends among central banks. Although he is an advocate for regulation, the current Bank of England governor, Mark Carney, appeared to be one of them — publicly giving his support for Libra and stating that he was open to central bank digital currencies. Given how he is stepping down March 17, there’s understandable interest in what his successor has to say… and, warning: It isn’t good. Andrew Bailey told a parliamentary committee this week that anyone who buys Bitcoin should be prepared to lose all of their money because it has “no intrinsic value.” He also warned that the cryptocurrency “hasn’t caught on as much as people predicted it would.” Bailey’s anti-crypto stance could indicate that the Bank of England’s attitude will change under his tenure.

Vitalik Buterin and Elon Musk back Jack Dorsey as Twitter CEO

Jack Dorsey is under fire. A billionaire founder of a hedge fund has acquired a 4% Twitter stake in an attempt to push for major changes at the social network, which would include Dorsey’s removal as CEO. Now, the pro-crypto executive is receiving support from major figures in the crypto industry. Vitalik Buterin publicly expressed his backing for Dorsey on Twitter, writing: “Twitter certainly has flaws but @jack has done a vastly better job than what I expect/fear from a hedge fund appointed CEO swooping in to replace him.” Musk also made his feelings known, praising Dorsey for having “a good heart.” It is not known whether these voices of support will hold sway. Activist investors believe Dorsey isn’t paying enough attention to Twitter because he is focusing on his crypto business, Square.

Only 1% of $1 trillion transferred in crypto last year was illicit, Chainalysis says

And the round-up ends with some surprising news from the blockchain analytics firm Chainalysis. The company has revealed that of $1.1 trillion in crypto transactions completed in 2019, just 1.1% were associated with illicit activity. The data implies that the industry is much healthier now than in previous years when much of the volume was associated with darknet markets. Figures show that exchanges remain popular targets for hackers, but their success rate has been dwindling ever since reaching an all-time high of $1 billion in thefts in 2018. Industry-wide cooperation and the involvement of law enforcement agencies are believed to have made the ecosystem more secure — even helping one hacked firm to recover some stolen funds.

Winners and Losers

At the end of the week, Bitcoin is at $8,262.24, Ether at $209 and XRP at $0.21. The total market cap is at $234,703,416,085.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Hedera Hashgraph, Ren and ABBC Coin. The top three altcoin losers of the week are Synthetix Network Token, Aelf and Ethereum Classic.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“The Supreme Court may look at the RBI’s review petition, but as of now, the cryptocurrency platforms can operate in India.”

Abhishek Rastogi, lawyer

“I think it’s still very much up in the air which blockchain will help get crypto from ~50M users to 5B.”

Brian Armstrong, Coinbase CEO

“Just want say that I support @Jack as Twitter CEO. He has a good [heart].”

Vitalik Buterin, Ethereum co-founder

“This [coronavirus] is the global financial crisis that will catapult the price to $100,000 and beyond.” 

Max Keiser, TV host and Bitcoin proponent

“Key thing is that you know from co-integration (100+ events) that BTC will probably go over $100K before Dec. 2021. How (slower/lower or faster/steeper) and exactly when is irrelevant.”

PlanB, crypto analyst

“I’m looking at around the $100,000 to $250,000 range depending on how long this bull market runs.”

Willy Woo, market analyst

“If you want to buy Bitcoin, be prepared to lose all your money… [Bitcoin] has no intrinsic value.”

Andrew Bailey, next Bank of England governor

Prediction of the Week

Coronavirus will send Bitcoin price to $100,000 in 2020, Max Keiser insists

As global stock markets take a beating because of the coronavirus, Bitcoin advocate Max Keiser argued that the health scare could be a blessing for the crypto sector. On his Keiser Report TV program, Keiser said BTC will hit six figures this year — and even went as far to say that JPMorgan CEO Jamie Dimon will be “begging” the U.S. Federal Reserve to buy some. Keiser described 2020 as “part two of the global financial crisis,” suggesting that part one was the 2008 crash that happened just before the white paper for Bitcoin was released. It might be a bit premature to take his prediction at face value — a week ago, crypto losses were very much in line with declines on the stock markets and in the price of gold. Meanwhile, the crypto analyst PlanB has said “100+ events” imply that Bitcoin will hit $100,000 in the next two years, adding: “How (slower/lower or faster/steeper) and exactly when is irrelevant.” Will their predictions be correct?

FUD of the Week

YouTuber sentenced to 50 years for kidnapping and demanding a Bitcoin ransom

A YouTuber has been sentenced to 50 years behind bars for masterminding a woman’s kidnapping in Mexico. German Abraham Loera Acosta, 25, is one of six men convicted over her abduction. The group had demanded $100,000 in Bitcoin in exchange for the release of Tania Denisse, a 33-year-old lawyer. Acosta had rented a house to hold the victim captive while they established communications with authorities over the internet. Although he was “very experienced” in browsing anonymously, detectives were able to track down the BTC that was eventually sent to the kidnappers. Denisse was later rescued, and the ransom money was recovered, along with a handgun and several mobile phones. Somewhat ironically, Acosta reportedly participated in the World Congress of Young Leaders for Peace in 2017.

Ledger wallet warns of fake Google Chrome extension stealing crypto

Ledger, a major cryptocurrency hardware wallet supplier, has warned users that a phishing attack is attempting to steal their crypto, using a Google Chrome Extension. The fake add-on seems to be asking unsuspecting victims to enter a 24-word recovery phrase to access their wallet. The fake extension is called Ledger Live and tries to mimic an authentic mobile and desktop application that allows users to approve transactions by synchronizing their hardware wallet with a trusted device. The dodgy extension now appears to have been removed from the Chrome Web Store, but not before it was downloaded at least 120 times. To compound the problem, the malicious tool was also advertised on Google Ads.

German financial regulator takes action against first Bitcoin ATMs

Want to buy some Bitcoin at an ATM in Germany? Not so fast. The country’s financial watchdog has halted the operations of a company that ran 24 machines across the country. Regulators said KKT UG didn’t have the necessary license to offer its services. Ultimately, it’s bad news for those who are hoping to use cryptocurrency ATMs in Germany, as they have long fallen into a massive gray area. Starting next year, crypto exchanges, custodians and wallet providers will need a license in order to operate — and they only have until June to submit an application.

Best Cointelegraph Features

Blockchain as a tool to combat coronavirus

The number of confirmed coronavirus cases continues to rise. As this feature explains, blockchain technology has a golden opportunity to make a considerable impact in limiting the outbreak’s ramifications.

Why betting on gold-backed stablecoins is a losing game

Gold has long been regarded as an eternal value — but storage costs a lot of money, and transporting the precious metal is fraught with difficulties. Gold-backed stablecoins have been touted as an effective solution, but as Gregory Klumov explains, many of them have been built on rotten foundations.

The history of the bitter debate over Ethereum’s ProgPoW

The Ethereum community has recently been engaged in a bitter debate sparked by a proposed mining algorithm change. Andrey Shevchenko has more.

Toxic Twitter tribalism: The fuel powering the crypto rocket?

Cointelegraph Magazine’s Stefan Stankovic examines meme warfare’s effect on blockchain development.

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The post India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8 appeared first on For Crypto.

from For Crypto https://ift.tt/2TT5v5s

#For Crypto

[coinretreat]

India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

India’s Supreme Court overturns controversial ban on banks servicing crypto firms

There’s a lot to chew concerning movements in the crypto markets, but the first story is of a different kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned by the country’s Supreme Court. The Reserve Bank of India’s sudden move in April 2018 had proved calamitous for local businesses, with several exchanges closing because of the uncertainty. Three judges decided to strike down the ban on Wednesday — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India’s banking system at risk. It took less than 24 hours for two major exchanges to resume accepting deposits and withdrawals, but India’s crypto industry might not be out of the woods yet. A pending law that would ban cryptocurrencies is yet to be considered by parliament, and this could take businesses back to square one.

Bitcoin falls under $9,000 as coronavirus woes deepen

The stock market has continued its rollercoaster ride for a second week as coronavirus cases rapidly proliferate outside of China. Bitcoin was initially spared from the massive losses disrupting other assets — maintaining support over $9,000 for three consecutive days — but plunged below this level on Saturday. Other cryptocurrencies have also been suffering. Some analysts maintain that BTC will be able to shrug off coronavirus concerns, so its bull run can intensify in advance of block rewards being halved in May. Nonetheless, the outbreak seems to be weighing heavily on the minds of crypto traders. The bizarre search term “Bitcoin coronavirus” has now overtaken “Bitcoin halving” on Google Trends.

New governor of the Bank of England isn’t a fan of Bitcoin

It’s often difficult for the crypto world to find friends among central banks. Although he is an advocate for regulation, the current Bank of England governor, Mark Carney, appeared to be one of them — publicly giving his support for Libra and stating that he was open to central bank digital currencies. Given how he is stepping down March 17, there’s understandable interest in what his successor has to say… and, warning: It isn’t good. Andrew Bailey told a parliamentary committee this week that anyone who buys Bitcoin should be prepared to lose all of their money because it has “no intrinsic value.” He also warned that the cryptocurrency “hasn’t caught on as much as people predicted it would.” Bailey’s anti-crypto stance could indicate that the Bank of England’s attitude will change under his tenure.

Vitalik Buterin and Elon Musk back Jack Dorsey as Twitter CEO

Jack Dorsey is under fire. A billionaire founder of a hedge fund has acquired a 4% Twitter stake in an attempt to push for major changes at the social network, which would include Dorsey’s removal as CEO. Now, the pro-crypto executive is receiving support from major figures in the crypto industry. Vitalik Buterin publicly expressed his backing for Dorsey on Twitter, writing: “Twitter certainly has flaws but @jack has done a vastly better job than what I expect/fear from a hedge fund appointed CEO swooping in to replace him.” Musk also made his feelings known, praising Dorsey for having “a good heart.” It is not known whether these voices of support will hold sway. Activist investors believe Dorsey isn’t paying enough attention to Twitter because he is focusing on his crypto business, Square.

Only 1% of $1 trillion transferred in crypto last year was illicit, Chainalysis says

And the round-up ends with some surprising news from the blockchain analytics firm Chainalysis. The company has revealed that of $1.1 trillion in crypto transactions completed in 2019, just 1.1% were associated with illicit activity. The data implies that the industry is much healthier now than in previous years when much of the volume was associated with darknet markets. Figures show that exchanges remain popular targets for hackers, but their success rate has been dwindling ever since reaching an all-time high of $1 billion in thefts in 2018. Industry-wide cooperation and the involvement of law enforcement agencies are believed to have made the ecosystem more secure — even helping one hacked firm to recover some stolen funds.

Winners and Losers

At the end of the week, Bitcoin is at $8,262.24, Ether at $209 and XRP at $0.21. The total market cap is at $234,703,416,085.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Hedera Hashgraph, Ren and ABBC Coin. The top three altcoin losers of the week are Synthetix Network Token, Aelf and Ethereum Classic.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“The Supreme Court may look at the RBI’s review petition, but as of now, the cryptocurrency platforms can operate in India.”

Abhishek Rastogi, lawyer

“I think it’s still very much up in the air which blockchain will help get crypto from ~50M users to 5B.”

Brian Armstrong, Coinbase CEO

“Just want say that I support @Jack as Twitter CEO. He has a good [heart].”

Vitalik Buterin, Ethereum co-founder

“This [coronavirus] is the global financial crisis that will catapult the price to $100,000 and beyond.” 

Max Keiser, TV host and Bitcoin proponent

“Key thing is that you know from co-integration (100+ events) that BTC will probably go over $100K before Dec. 2021. How (slower/lower or faster/steeper) and exactly when is irrelevant.”

PlanB, crypto analyst

“I’m looking at around the $100,000 to $250,000 range depending on how long this bull market runs.”

Willy Woo, market analyst

“If you want to buy Bitcoin, be prepared to lose all your money… [Bitcoin] has no intrinsic value.”

Andrew Bailey, next Bank of England governor

Prediction of the Week

Coronavirus will send Bitcoin price to $100,000 in 2020, Max Keiser insists

As global stock markets take a beating because of the coronavirus, Bitcoin advocate Max Keiser argued that the health scare could be a blessing for the crypto sector. On his Keiser Report TV program, Keiser said BTC will hit six figures this year — and even went as far to say that JPMorgan CEO Jamie Dimon will be “begging” the U.S. Federal Reserve to buy some. Keiser described 2020 as “part two of the global financial crisis,” suggesting that part one was the 2008 crash that happened just before the white paper for Bitcoin was released. It might be a bit premature to take his prediction at face value — a week ago, crypto losses were very much in line with declines on the stock markets and in the price of gold. Meanwhile, the crypto analyst PlanB has said “100+ events” imply that Bitcoin will hit $100,000 in the next two years, adding: “How (slower/lower or faster/steeper) and exactly when is irrelevant.” Will their predictions be correct?

FUD of the Week

YouTuber sentenced to 50 years for kidnapping and demanding a Bitcoin ransom

A YouTuber has been sentenced to 50 years behind bars for masterminding a woman’s kidnapping in Mexico. German Abraham Loera Acosta, 25, is one of six men convicted over her abduction. The group had demanded $100,000 in Bitcoin in exchange for the release of Tania Denisse, a 33-year-old lawyer. Acosta had rented a house to hold the victim captive while they established communications with authorities over the internet. Although he was “very experienced” in browsing anonymously, detectives were able to track down the BTC that was eventually sent to the kidnappers. Denisse was later rescued, and the ransom money was recovered, along with a handgun and several mobile phones. Somewhat ironically, Acosta reportedly participated in the World Congress of Young Leaders for Peace in 2017.

Ledger wallet warns of fake Google Chrome extension stealing crypto

Ledger, a major cryptocurrency hardware wallet supplier, has warned users that a phishing attack is attempting to steal their crypto, using a Google Chrome Extension. The fake add-on seems to be asking unsuspecting victims to enter a 24-word recovery phrase to access their wallet. The fake extension is called Ledger Live and tries to mimic an authentic mobile and desktop application that allows users to approve transactions by synchronizing their hardware wallet with a trusted device. The dodgy extension now appears to have been removed from the Chrome Web Store, but not before it was downloaded at least 120 times. To compound the problem, the malicious tool was also advertised on Google Ads.

German financial regulator takes action against first Bitcoin ATMs

Want to buy some Bitcoin at an ATM in Germany? Not so fast. The country’s financial watchdog has halted the operations of a company that ran 24 machines across the country. Regulators said KKT UG didn’t have the necessary license to offer its services. Ultimately, it’s bad news for those who are hoping to use cryptocurrency ATMs in Germany, as they have long fallen into a massive gray area. Starting next year, crypto exchanges, custodians and wallet providers will need a license in order to operate — and they only have until June to submit an application.

Best Cointelegraph Features

Blockchain as a tool to combat coronavirus

The number of confirmed coronavirus cases continues to rise. As this feature explains, blockchain technology has a golden opportunity to make a considerable impact in limiting the outbreak’s ramifications.

Why betting on gold-backed stablecoins is a losing game

Gold has long been regarded as an eternal value — but storage costs a lot of money, and transporting the precious metal is fraught with difficulties. Gold-backed stablecoins have been touted as an effective solution, but as Gregory Klumov explains, many of them have been built on rotten foundations.

The history of the bitter debate over Ethereum’s ProgPoW

The Ethereum community has recently been engaged in a bitter debate sparked by a proposed mining algorithm change. Andrey Shevchenko has more.

Toxic Twitter tribalism: The fuel powering the crypto rocket?

Cointelegraph Magazine’s Stefan Stankovic examines meme warfare’s effect on blockchain development.

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The post India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8 appeared first on CoinRetreat.

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India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

India’s Supreme Court overturns controversial ban on banks servicing crypto firms

There’s a lot to chew concerning movements in the crypto markets, but the first story is of a different kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned by the country’s Supreme Court. The Reserve Bank of India’s sudden move in April 2018 had proved calamitous for local businesses, with several exchanges closing because of the uncertainty. Three judges decided to strike down the ban on Wednesday — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India’s banking system at risk. It took less than 24 hours for two major exchanges to resume accepting deposits and withdrawals, but India’s crypto industry might not be out of the woods yet. A pending law that would ban cryptocurrencies is yet to be considered by parliament, and this could take businesses back to square one.

Bitcoin falls under $9,000 as coronavirus woes deepen

The stock market has continued its rollercoaster ride for a second week as coronavirus cases rapidly proliferate outside of China. Bitcoin was initially spared from the massive losses disrupting other assets — maintaining support over $9,000 for three consecutive days — but plunged below this level on Saturday. Other cryptocurrencies have also been suffering. Some analysts maintain that BTC will be able to shrug off coronavirus concerns, so its bull run can intensify in advance of block rewards being halved in May. Nonetheless, the outbreak seems to be weighing heavily on the minds of crypto traders. The bizarre search term “Bitcoin coronavirus” has now overtaken “Bitcoin halving” on Google Trends.

New governor of the Bank of England isn’t a fan of Bitcoin

It’s often difficult for the crypto world to find friends among central banks. Although he is an advocate for regulation, the current Bank of England governor, Mark Carney, appeared to be one of them — publicly giving his support for Libra and stating that he was open to central bank digital currencies. Given how he is stepping down March 17, there’s understandable interest in what his successor has to say… and, warning: It isn’t good. Andrew Bailey told a parliamentary committee this week that anyone who buys Bitcoin should be prepared to lose all of their money because it has “no intrinsic value.” He also warned that the cryptocurrency “hasn’t caught on as much as people predicted it would.” Bailey’s anti-crypto stance could indicate that the Bank of England’s attitude will change under his tenure.

Vitalik Buterin and Elon Musk back Jack Dorsey as Twitter CEO

Jack Dorsey is under fire. A billionaire founder of a hedge fund has acquired a 4% Twitter stake in an attempt to push for major changes at the social network, which would include Dorsey’s removal as CEO. Now, the pro-crypto executive is receiving support from major figures in the crypto industry. Vitalik Buterin publicly expressed his backing for Dorsey on Twitter, writing: “Twitter certainly has flaws but @jack has done a vastly better job than what I expect/fear from a hedge fund appointed CEO swooping in to replace him.” Musk also made his feelings known, praising Dorsey for having “a good heart.” It is not known whether these voices of support will hold sway. Activist investors believe Dorsey isn’t paying enough attention to Twitter because he is focusing on his crypto business, Square.

Only 1% of $1 trillion transferred in crypto last year was illicit, Chainalysis says

And the round-up ends with some surprising news from the blockchain analytics firm Chainalysis. The company has revealed that of $1.1 trillion in crypto transactions completed in 2019, just 1.1% were associated with illicit activity. The data implies that the industry is much healthier now than in previous years when much of the volume was associated with darknet markets. Figures show that exchanges remain popular targets for hackers, but their success rate has been dwindling ever since reaching an all-time high of $1 billion in thefts in 2018. Industry-wide cooperation and the involvement of law enforcement agencies are believed to have made the ecosystem more secure — even helping one hacked firm to recover some stolen funds.

Winners and Losers

At the end of the week, Bitcoin is at $8,262.24, Ether at $209 and XRP at $0.21. The total market cap is at $234,703,416,085.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Hedera Hashgraph, Ren and ABBC Coin. The top three altcoin losers of the week are Synthetix Network Token, Aelf and Ethereum Classic.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“The Supreme Court may look at the RBI’s review petition, but as of now, the cryptocurrency platforms can operate in India.”

Abhishek Rastogi, lawyer

“I think it’s still very much up in the air which blockchain will help get crypto from ~50M users to 5B.”

Brian Armstrong, Coinbase CEO

“Just want say that I support @Jack as Twitter CEO. He has a good [heart].”

Vitalik Buterin, Ethereum co-founder

“This [coronavirus] is the global financial crisis that will catapult the price to $100,000 and beyond.” 

Max Keiser, TV host and Bitcoin proponent

“Key thing is that you know from co-integration (100+ events) that BTC will probably go over $100K before Dec. 2021. How (slower/lower or faster/steeper) and exactly when is irrelevant.”

PlanB, crypto analyst

“I’m looking at around the $100,000 to $250,000 range depending on how long this bull market runs.”

Willy Woo, market analyst

“If you want to buy Bitcoin, be prepared to lose all your money… [Bitcoin] has no intrinsic value.”

Andrew Bailey, next Bank of England governor

Prediction of the Week

Coronavirus will send Bitcoin price to $100,000 in 2020, Max Keiser insists

As global stock markets take a beating because of the coronavirus, Bitcoin advocate Max Keiser argued that the health scare could be a blessing for the crypto sector. On his Keiser Report TV program, Keiser said BTC will hit six figures this year — and even went as far to say that JPMorgan CEO Jamie Dimon will be “begging” the U.S. Federal Reserve to buy some. Keiser described 2020 as “part two of the global financial crisis,” suggesting that part one was the 2008 crash that happened just before the white paper for Bitcoin was released. It might be a bit premature to take his prediction at face value — a week ago, crypto losses were very much in line with declines on the stock markets and in the price of gold. Meanwhile, the crypto analyst PlanB has said “100+ events” imply that Bitcoin will hit $100,000 in the next two years, adding: “How (slower/lower or faster/steeper) and exactly when is irrelevant.” Will their predictions be correct?

FUD of the Week

YouTuber sentenced to 50 years for kidnapping and demanding a Bitcoin ransom

A YouTuber has been sentenced to 50 years behind bars for masterminding a woman’s kidnapping in Mexico. German Abraham Loera Acosta, 25, is one of six men convicted over her abduction. The group had demanded $100,000 in Bitcoin in exchange for the release of Tania Denisse, a 33-year-old lawyer. Acosta had rented a house to hold the victim captive while they established communications with authorities over the internet. Although he was “very experienced” in browsing anonymously, detectives were able to track down the BTC that was eventually sent to the kidnappers. Denisse was later rescued, and the ransom money was recovered, along with a handgun and several mobile phones. Somewhat ironically, Acosta reportedly participated in the World Congress of Young Leaders for Peace in 2017.

Ledger wallet warns of fake Google Chrome extension stealing crypto

Ledger, a major cryptocurrency hardware wallet supplier, has warned users that a phishing attack is attempting to steal their crypto, using a Google Chrome Extension. The fake add-on seems to be asking unsuspecting victims to enter a 24-word recovery phrase to access their wallet. The fake extension is called Ledger Live and tries to mimic an authentic mobile and desktop application that allows users to approve transactions by synchronizing their hardware wallet with a trusted device. The dodgy extension now appears to have been removed from the Chrome Web Store, but not before it was downloaded at least 120 times. To compound the problem, the malicious tool was also advertised on Google Ads.

German financial regulator takes action against first Bitcoin ATMs

Want to buy some Bitcoin at an ATM in Germany? Not so fast. The country’s financial watchdog has halted the operations of a company that ran 24 machines across the country. Regulators said KKT UG didn’t have the necessary license to offer its services. Ultimately, it’s bad news for those who are hoping to use cryptocurrency ATMs in Germany, as they have long fallen into a massive gray area. Starting next year, crypto exchanges, custodians and wallet providers will need a license in order to operate — and they only have until June to submit an application.

Best Cointelegraph Features

Blockchain as a tool to combat coronavirus

The number of confirmed coronavirus cases continues to rise. As this feature explains, blockchain technology has a golden opportunity to make a considerable impact in limiting the outbreak’s ramifications.

Why betting on gold-backed stablecoins is a losing game

Gold has long been regarded as an eternal value — but storage costs a lot of money, and transporting the precious metal is fraught with difficulties. Gold-backed stablecoins have been touted as an effective solution, but as Gregory Klumov explains, many of them have been built on rotten foundations.

The history of the bitter debate over Ethereum’s ProgPoW

The Ethereum community has recently been engaged in a bitter debate sparked by a proposed mining algorithm change. Andrey Shevchenko has more.

Toxic Twitter tribalism: The fuel powering the crypto rocket?

Cointelegraph Magazine’s Stefan Stankovic examines meme warfare’s effect on blockchain development.

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The post India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8 appeared first on Tip Crypto.

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#Tip Crypto

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India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

India’s Supreme Court overturns controversial ban on banks servicing crypto firms

There’s a lot to chew concerning movements in the crypto markets, but the first story is of a different kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned by the country’s Supreme Court. The Reserve Bank of India’s sudden move in April 2018 had proved calamitous for local businesses, with several exchanges closing because of the uncertainty. Three judges decided to strike down the ban on Wednesday — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India’s banking system at risk. It took less than 24 hours for two major exchanges to resume accepting deposits and withdrawals, but India’s crypto industry might not be out of the woods yet. A pending law that would ban cryptocurrencies is yet to be considered by parliament, and this could take businesses back to square one.

Bitcoin falls under $9,000 as coronavirus woes deepen

The stock market has continued its rollercoaster ride for a second week as coronavirus cases rapidly proliferate outside of China. Bitcoin was initially spared from the massive losses disrupting other assets — maintaining support over $9,000 for three consecutive days — but plunged below this level on Saturday. Other cryptocurrencies have also been suffering. Some analysts maintain that BTC will be able to shrug off coronavirus concerns, so its bull run can intensify in advance of block rewards being halved in May. Nonetheless, the outbreak seems to be weighing heavily on the minds of crypto traders. The bizarre search term “Bitcoin coronavirus” has now overtaken “Bitcoin halving” on Google Trends.

New governor of the Bank of England isn’t a fan of Bitcoin

It’s often difficult for the crypto world to find friends among central banks. Although he is an advocate for regulation, the current Bank of England governor, Mark Carney, appeared to be one of them — publicly giving his support for Libra and stating that he was open to central bank digital currencies. Given how he is stepping down March 17, there’s understandable interest in what his successor has to say… and, warning: It isn’t good. Andrew Bailey told a parliamentary committee this week that anyone who buys Bitcoin should be prepared to lose all of their money because it has “no intrinsic value.” He also warned that the cryptocurrency “hasn’t caught on as much as people predicted it would.” Bailey’s anti-crypto stance could indicate that the Bank of England’s attitude will change under his tenure.

Vitalik Buterin and Elon Musk back Jack Dorsey as Twitter CEO

Jack Dorsey is under fire. A billionaire founder of a hedge fund has acquired a 4% Twitter stake in an attempt to push for major changes at the social network, which would include Dorsey’s removal as CEO. Now, the pro-crypto executive is receiving support from major figures in the crypto industry. Vitalik Buterin publicly expressed his backing for Dorsey on Twitter, writing: “Twitter certainly has flaws but @jack has done a vastly better job than what I expect/fear from a hedge fund appointed CEO swooping in to replace him.” Musk also made his feelings known, praising Dorsey for having “a good heart.” It is not known whether these voices of support will hold sway. Activist investors believe Dorsey isn’t paying enough attention to Twitter because he is focusing on his crypto business, Square.

Only 1% of $1 trillion transferred in crypto last year was illicit, Chainalysis says

And the round-up ends with some surprising news from the blockchain analytics firm Chainalysis. The company has revealed that of $1.1 trillion in crypto transactions completed in 2019, just 1.1% were associated with illicit activity. The data implies that the industry is much healthier now than in previous years when much of the volume was associated with darknet markets. Figures show that exchanges remain popular targets for hackers, but their success rate has been dwindling ever since reaching an all-time high of $1 billion in thefts in 2018. Industry-wide cooperation and the involvement of law enforcement agencies are believed to have made the ecosystem more secure — even helping one hacked firm to recover some stolen funds.

Winners and Losers

At the end of the week, Bitcoin is at $8,262.24, Ether at $209 and XRP at $0.21. The total market cap is at $234,703,416,085.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Hedera Hashgraph, Ren and ABBC Coin. The top three altcoin losers of the week are Synthetix Network Token, Aelf and Ethereum Classic.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“The Supreme Court may look at the RBI’s review petition, but as of now, the cryptocurrency platforms can operate in India.”

Abhishek Rastogi, lawyer

“I think it’s still very much up in the air which blockchain will help get crypto from ~50M users to 5B.”

Brian Armstrong, Coinbase CEO

“Just want say that I support @Jack as Twitter CEO. He has a good [heart].”

Vitalik Buterin, Ethereum co-founder

“This [coronavirus] is the global financial crisis that will catapult the price to $100,000 and beyond.” 

Max Keiser, TV host and Bitcoin proponent

“Key thing is that you know from co-integration (100+ events) that BTC will probably go over $100K before Dec. 2021. How (slower/lower or faster/steeper) and exactly when is irrelevant.”

PlanB, crypto analyst

“I’m looking at around the $100,000 to $250,000 range depending on how long this bull market runs.”

Willy Woo, market analyst

“If you want to buy Bitcoin, be prepared to lose all your money… [Bitcoin] has no intrinsic value.”

Andrew Bailey, next Bank of England governor

Prediction of the Week

Coronavirus will send Bitcoin price to $100,000 in 2020, Max Keiser insists

As global stock markets take a beating because of the coronavirus, Bitcoin advocate Max Keiser argued that the health scare could be a blessing for the crypto sector. On his Keiser Report TV program, Keiser said BTC will hit six figures this year — and even went as far to say that JPMorgan CEO Jamie Dimon will be “begging” the U.S. Federal Reserve to buy some. Keiser described 2020 as “part two of the global financial crisis,” suggesting that part one was the 2008 crash that happened just before the white paper for Bitcoin was released. It might be a bit premature to take his prediction at face value — a week ago, crypto losses were very much in line with declines on the stock markets and in the price of gold. Meanwhile, the crypto analyst PlanB has said “100+ events” imply that Bitcoin will hit $100,000 in the next two years, adding: “How (slower/lower or faster/steeper) and exactly when is irrelevant.” Will their predictions be correct?

FUD of the Week

YouTuber sentenced to 50 years for kidnapping and demanding a Bitcoin ransom

A YouTuber has been sentenced to 50 years behind bars for masterminding a woman’s kidnapping in Mexico. German Abraham Loera Acosta, 25, is one of six men convicted over her abduction. The group had demanded $100,000 in Bitcoin in exchange for the release of Tania Denisse, a 33-year-old lawyer. Acosta had rented a house to hold the victim captive while they established communications with authorities over the internet. Although he was “very experienced” in browsing anonymously, detectives were able to track down the BTC that was eventually sent to the kidnappers. Denisse was later rescued, and the ransom money was recovered, along with a handgun and several mobile phones. Somewhat ironically, Acosta reportedly participated in the World Congress of Young Leaders for Peace in 2017.

Ledger wallet warns of fake Google Chrome extension stealing crypto

Ledger, a major cryptocurrency hardware wallet supplier, has warned users that a phishing attack is attempting to steal their crypto, using a Google Chrome Extension. The fake add-on seems to be asking unsuspecting victims to enter a 24-word recovery phrase to access their wallet. The fake extension is called Ledger Live and tries to mimic an authentic mobile and desktop application that allows users to approve transactions by synchronizing their hardware wallet with a trusted device. The dodgy extension now appears to have been removed from the Chrome Web Store, but not before it was downloaded at least 120 times. To compound the problem, the malicious tool was also advertised on Google Ads.

German financial regulator takes action against first Bitcoin ATMs

Want to buy some Bitcoin at an ATM in Germany? Not so fast. The country’s financial watchdog has halted the operations of a company that ran 24 machines across the country. Regulators said KKT UG didn’t have the necessary license to offer its services. Ultimately, it’s bad news for those who are hoping to use cryptocurrency ATMs in Germany, as they have long fallen into a massive gray area. Starting next year, crypto exchanges, custodians and wallet providers will need a license in order to operate — and they only have until June to submit an application.

Best Cointelegraph Features

Blockchain as a tool to combat coronavirus

The number of confirmed coronavirus cases continues to rise. As this feature explains, blockchain technology has a golden opportunity to make a considerable impact in limiting the outbreak’s ramifications.

Why betting on gold-backed stablecoins is a losing game

Gold has long been regarded as an eternal value — but storage costs a lot of money, and transporting the precious metal is fraught with difficulties. Gold-backed stablecoins have been touted as an effective solution, but as Gregory Klumov explains, many of them have been built on rotten foundations.

The history of the bitter debate over Ethereum’s ProgPoW

The Ethereum community has recently been engaged in a bitter debate sparked by a proposed mining algorithm change. Andrey Shevchenko has more.

Toxic Twitter tribalism: The fuel powering the crypto rocket?

Cointelegraph Magazine’s Stefan Stankovic examines meme warfare’s effect on blockchain development.

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The post India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8 appeared first on Coin First.

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[fmservers]

Another fine mesh

Amazon’s acquisition of mesh router company Eero is a smart play that adds a number of cards to its hand in the rapidly evolving smart home market. Why shouldn’t every router be an Echo, and every Echo be a router? Consolidating the two makes for powerful synergies and significant leverage against stubborn competition.

It’s no secret that Amazon wants to be in every room of the house — and on the front door to boot. It bought connected camera and doorbell companies Blink and Ring, and of course at its events it has introduced countless new devices from connected plugs to microwaves.

All these devices connect to each other, and the internet, wirelessly. Using what? Some router behind the couch, probably from Netgear or Linksys, with a 7-character model number and utilitarian look. This adjacent territory is the clear next target for expansion.

But Amazon could easily have moved into this with a Basics gadget years ago. Why didn’t it? Because it knew that it would have to surpass what’s on the market, not just in signal strength or build, but by changing the product into a whole new category.

Amazon is buying home mesh router startup, Eero

The router is one of a dwindling number of devices left in the home that is still just a piece of “equipment.” Few people use their routers for anything but a basic wireless connection. Bits come and go through the cable and are relayed to the appropriate devices, mechanically and invisibly. It’s a device few think to customize or improve, if they think of it at all.

Apple made some early inroads with its overpriced and ultimately doomed Airport products, which served some additional purposes, like simple backups, and were also designed well enough to live on a table instead of under it. But it’s only recently that the humble wireless router has advanced beyond the state of equipment. It’s companies like Eero that did it, but it’s Amazon that’s made it realistic.

The 8 features Amazon and Google must add to the Echo and Home

Build the demand, then sell the supply

It’s become clear that in many homes a single Wi-Fi router isn’t sufficient. Two or even three might be necessary to get the proper signal to the bedrooms upstairs and the workshop in the garage.

A few years ago this wasn’t even necessary, because there were far fewer devices that needed a wireless connection to work. But now if your signal doesn’t reach the front door, the lock won’t send a video of the mail carrier; if it doesn’t reach the garage, you can’t activate the opener for the neighbor; if it doesn’t reach upstairs, the kids come downstairs to watch TV — and we can’t have that.

A mesh system of multiple devices relaying signals is a natural solution, and one that’s been used for many years in other contexts. Eero was among the first not to create a system but to make a consumer play, albeit at the luxury level, rather like Sonos.

Google got in on the game relatively soon after that with the OnHub and its satellites, but neither company really seemed to crack the code. How many people do you know who have a mesh router system? Very few, I’d wager, likely vanishingly few when compared with ordinary router sales.

It seems clear now that the market wasn’t quite ready for the kind of investment and complexity that mesh networking necessitated. Amazon, however, solves that, because its mesh router will be an Echo, or an Echo Dot, or an Echo Show — all devices that are already found in multiple rooms of the house, and seem very likely to include some kind of mesh protocol in their next update.

It’s hard to say exactly how it will work, since a high-quality router necessarily has features and hardware that let it do its job. Adding these to an Echo product would be non-trivial. But it seems extremely likely that we can expect an Echo Hub or the like, which connects directly to your cable modem (it’s unlikely to perform that duty as well) and performs the usual router duties, while also functioning as an attractive multipurpose Alexa gadget.

That’s already a big step up from the ordinary spiky router. But the fun’s just getting started for Amazon.

42 percent of smart speaker owners have bought a second device (or more)

Platform play

Apple has powerful synergies in its ecosystems, among which iMessage has to be the strongest. It’s the only reason I use an iPhone now; if Android got access to iMessage, I’d switch tomorrow. But I doubt it ever will, so here I am. Google has that kind of hold on search and advertising — just try to get away. And so on.

Amazon has a death grip on online retail, of course, but its naked thirst for an Amazon-populated smart home has been obvious since it took the smart step to open its Alexa platform up for practically anyone to ship with. The following Alexavalanche brought garbage from all corners of the world, and some good stuff too. But it shipped devices.

Now, any device will work with the forthcoming Echo-Eero hybrids. After all it will function as a perfectly ordinary router in some ways. But Amazon will be putting another layer on that interface specifically with Alexa and other Amazon devices. Imagine how simple the interface will be, how easily you’ll be able to connect and configure new smart home devices — that you bought on Amazon, naturally.

Sure, that non-Alexa baby cam will work, but like Apple’s genius blue and green bubbles, some indicator will make it clear that this device, while perfectly functional, is, well, lacking. A gray, generic device image instead of a bright custom icon or live view from your Amazon camera, perhaps. It’s little things like that that change minds, especially when Amazon is undercutting the competition via subsidized prices.

Note that this applies to expanding the network as well — other Amazon devices (the Dot and its ilk) will likely not only play nice with the hub but will act as range extenders and perform other tasks like file transfers, intercom duty, throwing video, etc. Amazon is establishing a private intranet in your house.

The rich data interplay of smart devices will soon become an important firehose. How much power is being used? How many people are at home and when? What podcasts are being listened to, at what times, and by whom? When did that UPS delivery actually get to the door? Amazon already gets much of this but building a mesh network gives it greater access and allows it to set the rules, in effect. It’s a huge surface area through which to offer services and advertisements, or to preemptively meet users’ needs.

Snooping ain’t easy (or wise)

One thing that deserves a quick mention is the possibility, as it will seem to some, that Amazon will snoop on your internet traffic if you use its router. I’ve got good news and bad news.

The good news is that it’s not only technically very difficult but very unwise to snoop at that level. Any important traffic going through the router will be encrypted, for one thing. And it wouldn’t be much of an advantage to Amazon anyway. The important data on you is generated by your interactions with Amazon: items you browse, shows you watch, and so on. Snatching random browsing data would be invasive and weird, with very little benefit.

Eero addressed the question directly shortly after the acquisition was announced:

Hi Steve! eero and Amazon take customer privacy very seriously and we will continue to protect it. eero does not track customers’ internet activity and this policy will not change with the acquisition.

— eero support (@eerosupport) February 11, 2019

Maybe they would have eventually as a last-ditch effort to monetize, but that’s neither here nor there.

Now the bad news. You don’t want Amazon to see your traffic? Too bad! Most of the internet runs on AWS! If Amazon really cared, it could probably do all kinds of bad stuff that way. But again it would be foolish self-sabotage.

Free-for-all

What happens next is an arms race, though it seems to me that Amazon might have already won. Google took its shot and may be once bitten, twice shy; its smart home presence isn’t nearly so large, either. Apple got out of the router game because there’s not much money in it; it won’t care if someone uses an Apple Homepod (what a name) with an Amazon router.

Huawei and Netgear already have Alexa-enabled routers, but they can’t offer the level of deep integration Amazon can; there’s no doubt the latter will reserve many interesting features for its own branded devices.

Linksys, TP-Link, Asus, and other OEMs serving the router space may blow this off to start as a toy, though it seems more likely that they will lean on the specs and utilitarian nature to push it with budget and performance markets, leaving Amazon to dominate a sliver… and hope that sliver doesn’t grow into a wedge.

One place you may see interesting competition is from someone leaning on the privacy angle. Although we’ve established that Amazon isn’t likely to use the device that way, the fear doesn’t have to be justified for it to be taken advantage of in advertising. And anyway there are other features like robust ad blocking and so on that, say, a Mozilla-powered open source router could make a case for.

But it seems likely that by acquiring an advanced but beleaguered startup that was ahead of the market, Amazon will be able to make a quick entry and multiply while the others are still engineering their responses.

Expect specials on Eeros while stock lasts, then a new wave of mesh-enabled Echo-branded devices that are backwards compatible, mega-simple to set up, and more than competitive on price. Now is the time and the living room is the place; Amazon will strike hard and perhaps it will set in motion the end of the router as mere equipment.

Via Devin Coldewey https://techcrunch.com

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