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Thursday, August 30, 2018 - #CryptoCorner: #Bitcoin Loses $7K Support, #Huobi Completes Acquisition of Pantronics, Bitcoin Mining Pool Announces #Ethereum Mining and South Korea's Jeju Island Seeks to Become #Blockchain Hub - #CryptoCorner: #Bitcoin Loses $7K Support, #Huobi Completes Acquisition of Pantronics, Bitcoin Mining Pool Announces #Ethereum Mining and South Korea's Jeju Island Seeks to Become #Blockchain Hub

Loses $7K Support, #Huobi Completes Acquisition of Pantronics,  Bitcoin
Mining Pool Announces #Ethereum Mining and South Korea’s Jeju Island
Seeks to Become #Blockchain Hub

August 30th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD) 
and #AI, #IoT, #Blockchain, #Crypto Technology Company  Gopher Protocol (OTCQB: $GOPH) and Genesis
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Point Roberts, WA, Delta BC,  August 30, 2018 -, a leader
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August 30, 2018 Crypto Corner

Bitcoin Loses $7K Support, Huobi Completes Acquisition of Pantronics,
Indian Central Bank to Explore CBDC, Bitcoin Mining Pool Announces
Ethereum Mining and South Korea’s Jeju Island Seeks to Become Blockchain Hub

The total market capitalization is down a bit
today, having fallen about $9 billion USD from $231 billion USD this time
yesterday, to $222 billion USD at press time, according to data from
CoinMarketCap. Bitcoin (BTC) has lost support at $7000 USD after
remaining above it since Tuesday, and is now trading at just under $6900 USD. Most
of the top 100 listed altcoins are in the red.

Crypto exchange giant Huobi has completed the acquisition of public company Pantronics Holdings (HKSE:1611.HK) for an estimated $77 million USD.
The company took control of 215,576,000 sales shares, or 71.67 percent, of
Pantronics on the date of the sale and purchase agreement on August 21. As was
previously on, the move could see Huobi itself becoming a public company.

The Reserve
Bank of India (RBI), the country’s central bank, released its
annual report yesterday,
wherein the possibility of a central bank digital currency (CBDC) was
discussed. The document cited costs associated with traditional currency and
the growing popularity of digital alternatives as reasons for creating a new
committee devoted to exploring CBDC.

Rapid changes
in the landscape of the payments industry, along with factors such as emergence
of private digital tokens and the rising costs of managing fiat paper/metallic
money, have led central banks around the world to explore the option of
introducing fiat digital currencies. In India, an inter-departmental group has
been constituted by the Reserve Bank to study and provide guidance on the
desirability and feasibility to introduce a central bank digital currency.

Bitcoin mining
pool announced in a
press release that it has
opened an Ethereum (ETH) and Ethereum Classic (ETC) mining pool. was
responsible for 21 percent of newly-mined Bitcoin last year. According to the
press release, miners will now be able to switch hashing power between pools in
response to the market.’s mining pool director, Zhuang Zhong, explained
how introducing Ethereum mining will expand mining activity.

provides multiple different reward incentives to contribute hash power to the
network. We hope to expand Ethereum's network by relaying those rewards through
our FPPS system. By competing to provide the best reward margins along with our
product development, we expect mining operations to grow to 12% of ETH total
hashrate in the next 12 months."

The governor
of South Korea’s Jeju Island, Won Hee-ryong, has petitioned the country’s
president, Moon Jae-in, to allow the island to become a blockchain hub,
according to a report from
CoinDesk. Won said
that Jeju Island could create more than 1600 new jobs if companies were
permitted to launch ICOs in the region.

"If Jeju Island is designated as a blockchain
special zone, international standards and regulations on cryptocurrency should
be created to ensure that blockchain and crypto companies that are promoting
sound businesses both domestically and abroad can conduct businesses in the

Sam Mowers, Investorideas

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