However, at this time there is no certainty what actions the authorities will take.
A tutorial course for crypto users and limiting the exchange of inexperienced users has even been suggested.
The explosive growth of crypto use has forced Thai authorities to consider new regulatory legislation and educating citizens on the matter. However, estimates on peer-to-peer trading have a much larger margin error than exchange volumes, meaning the true number is far harder to assess. The world’s largest peer-to-peer marketplaces LocalBitcoins and Paxful have only reported volumes growing between 10%-50%. While crypto use has clearly surged in exchanges, peer-to-peer trading seems have had a more limited growth. By this year’s February the volume had grown to a whopping $3.96 billion. According to data published by Bloomberg, the total volume of Thai crypto exchanges amounted to $574.5 million dollars back in November. (PICTURE: JD Lasica – CC-A-2.0.) Bitcoin use soars almost 600% in ThailandĪccording to recent estimates by Thailand’s local Securities and Exchange Commission, the use of cryptocurrencies in the country has grown nearly 600% since last November. Elon Musk’s Tesla seems to take Bitcoin and its infrastructure development seriously. Upcoming collaboration with BTCPay would also explain why Tesla’s researchers have scrutinized BTCPay’s code. Tesla has already revealed its systems are and will be based on open code. The case also suggests Tesla may have plans to start using BTCPay for processing customer crypto payments. Much like BTCPay, also Bitcoin is based on open code.
The case demonstrates both Tesla’s commitment to Bitcoin as well as the benefits of open-source code, as anyone can check the code and improve detected weaknesses. They are now helping us to improve our process for security related disclosure,” told Nicolas Dorier, founder of BTCPay. We then focused on fixing most of the points they disclosed one by one. ”The security team did an audit and contacted us.
The company which made headlines earlier this year with its heavy BTC investment fixed the bug pro bono. Tesla fixed BTC service bug pro bonoĮlectric car manufacturer Tesla has found and fixed a bug in the open-source Bitcoin payment processor BTCPay Server. Bitcoin’s explosive rise has also made many altcoins more valuable than ever before. When bitcoin’s price enters a corrective movement, altcoin prices may consequently bleed even more. Due to their smaller market caps, altcoins are also notably more volatile than bitcoin. However, the phenomenon also has its flipside. Much like earlier, this has also led to other altcoin price booms. Over the previous months bitcoin has had an upward rally with major institutional investors and capital entering the markets. According to statistics by CoinMarketCap, the world currently has more than 100 crypto projects with a market cap exceeding a billion.īitcoin’s price rise has typically also reflected on smaller cryptocurrencies. The past two months have marked a doubling in the number of cryptocurrencies with a combined market capitalization above one billion dollars. The bitcoin blockchain is reaching its roots across the world both financially and culturally.
The previous news archive can be found here.
Furthermore we have Tesla’s charity work for Bitcoin and the immense growth of altcoins. In Thailand alone crypto use has grown hundreds of percent in just a few months, with growth also visible worldwide according to the country’s estimates. Bitcoin and cryptocurrencies have along the years grown from the former group to the latter.Īside from entertainment news we will also address other ways in which crypto is going mainstream. Instead, things that are featured in Disney plots and known to both grannies and kids are another matter. Things discussed by a few nerds on obscure online forums cannot be seen as particularly mainstream. After all, entertainment is a pretty good indicator of what’s mainstream and what’s not. This week we have more entertainment news than usually.