Cryptocurrency News for the Week of March 11-17, 2018

Looking for all the cryptocurrency and blockchain news happening this week? Look no further. We gathered the important stories so you can keep up with the industry. Whether you’re an investor, business, or enthusiast, these are the crypto stories that matter this week.

For the first time, a US city has banned cryptocurrency mining

by Antonio Villas-Boas, Business Insider

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The city of Plattsburgh, NY has low electricity costs, which have attracted cryptocurrency miners. Unfortunately for those relocating, the city’s government placed an 18-month ban on commercial crypto mining. City officials state an influx of crypto miners are placing undue strain on its electrical grid, causing residential electricity costs to skyrocket $100-200. This is due to the city needing to buy electricity on the open market at higher costs, which are passed on to the consumer.

Meet the Only 2 People in the World Who Have Become Billionaires Off Cryptocurrency

by Paul Schrodt, Time

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Cryptocurrency investments made a lot of people rich overnight, but none more than Ripple co-founder and CEO Chris Larsen and Binance CEO Changpeng Zhao. The meteoric rise of these two companies made both men billionaires overnight during November/December 2017’s huge Bitcoin value rise. Both are tech industry veterans who run their own cryptocurrencies with very different products, neither of which depends at all on Bitcoin.

Bitcoin briefly falls below $8,000 after Google says it will ban cryptocurrency ads

by Kate Rooney, CNBC

Following Facebook’s January 2018 ban on cryptocurrency ads, Google announced Wednesday March 14 that it would restrict crypto advertising starting in June. The announcement (along with actions taken by the CFTC and SEC against cryptos and exchanges) sent Bitcoin prices downward this week. Despite governments around the world scrutinizing the industry, it continues to thrive, however, and many analysts have a positive outlook.

South Korea Confiscated Computers, Records in Cryptocurrency Raids

by Eun-Young Jeong, Wall Street Journal

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Three cryptocurrency exchanges have been raided (and reportedly taken over) by Korean financial regulators. They’re accused of siphoning money from users in order to buy cryptos on other exchanges. The move is unrelated to the government’s recent crackdown to reign in the sector’s market volatility. South Korea has one of the largest crypto markets in the world.

How Cryptocurrency Is Crippling PC Gaming

by Jimmy Thang, Gamespot

E3 PC Gaming Show 2015

Since 2017’s crypto boom, interest in mining them grew. The result was a shortage of graphics cards throughout 2018. If you’re lucky enough to find a high-end graphics card, prices are skyrocketing to all-time highs. Both AMD and Nvidia are looking into how they can create GPUs designed for each individual market. Until then, the PC gaming market is going to feel the effects of the Great Graphics Card Shortage of 2018.

Video Games To Start Mining Cryptocurrency

by Brian Penny, Cryptobriefing

Video Games To Begin Mining Crypto with new ALLMINE Game

The video game industry is paying attention to cryptocurrency and blockchain. Several are already creating blockchain-based gaming platforms. But the connection runs deeper. Digital currencies began in gaming, and they spurred black market exchanges and economies long before Bitcoin rose to popularity in the public eye.

So Long ICOs, Hello Airdrops: The Free Token Giveaway Craze Is Here

by Brady Dale, Coindesk

Cryptomining is already becoming prohibitively expensive (and more and more unlikely to pay off for all but commercial operations). ICOs are popping up every day, but some companies are figuring out better ways to gain traction in the crypto market. Airdrops are crypto-based incentives some companies are using to lure users to their services. It’s paying off in a big way for many.

 

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Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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