Daily Roundup 9th August 2018: Why you should move to Venezuela if you are bullish on Bitcoin & more

Bitcoin price doubles every 18 days! – in Venezuela

The price of Bitcoin has been plummeting since December. However, this has not stopped the cryptocoin to become extremely valuable in Venezuela. Recently, the socialist country made headlines with inflation rates with five digits. The IMF predicts an inflation rate of 1,000,000% by the end of the year for the Bolivar. So if you want to feel bullish about Bitcoin again. You should move to Venezuela.


The Philippines build Asian crypto valley

The Philippines government has officially announced plans to build Crypto Valley of Asia (CVA), a facility that resembles Switzerland’s canton of Zug. The government will partner with Northern Star to put up the Cryptocurrency and Fintech hub at the Cagayan Special Economic Zone and Freeport. Once complete, the facility will accommodate about 25 Crypto businesses. The project will boost the country’s economy by attracting more international and regional Crypto and Blockchain companies.

Russia punishes crypto advertising for the first time

The Russian newspaper Edinstvo Nizhnekamsk circulates in the autonomous region of Tatarstan. The advertisement read “Investments in cryptocurrency. Bitcoin, Ethereum, Zcash. Assembly and setup of mining farms”. A private person named Richard Timurovich Blumchen published it. According to Russian law, he is offering financial services without meeting the necessary legal requirements to do so. But due to the Russian jurisdiction, it is not him that has to pay the fine but the newspaper who publishes the advertisement. The fine amounts to 50,000 rubles which is roughly $760 USD.

Binance releases alpha version of its decentralized exchange

Changpeng Zhao, Binance’s CEO announced earlier today that DEX the decentralized exchange is already in an early alpha phase. He presented it in a short Youtube video. The dexchange will run on Binance’s public chain, Binance chain. The chain will be the mainnet of Binance’s own native token BNB that is currently running on Ethereum’s network. Through the chain both Binance, the centralized exchange, and the DEX will be connected to each other. Zhao announced that both exchanges will coexist at least for a time and that the users will decide which exchange will supercede.