Bitcoin dropped below $7k as Twitter, Google, and Facebook banned ICO ads. Vitalik Buterin proposed charging rent for Ethereum storage, Ripple donated $29M in XRP to DonorsChoose, and Telegram raised $1.7B in its ICO.
Huddle on kids. It's gonna be a bumpy ride. Regulatory fears, Crypto Ad bans, Even goddamn Reddit contributed to poor old Bitcoin finishing the first quarter below 7K. Tom Lee is hopeful you'll get your returns and Ripple wants to educate you, so chin up. Here is your overview of the week Twitter confirmed it was banning ads for ICOs following similar steps taken by Google and Facebook. It will also include crypto exchanges and wallets unless they are publicly traded. Twitter is overwhelmed with fake accounts promising free coins, forcing people like Vitalik Buterin to put disclaimers in their profiles. More bad news comes from email marketing giant mailchimp. It is rumored that it also wants to ban crypto related accounts, so you might not be receiving that bitcoin newsletter soon. Subscribe now before it's too late, Tom Lee says. Hodl the mood in crypto is terrible right now. Long time hodlers are worried because they have big gains and they're worried about falling prices. But bitcoin is a great store of value. It works really well. Li discovered that in the five years since 2013, the full year gains of Bitcoin were achieved in an average of just nine days. So buy and Hodl it makes sense. Vitalik Buterin wants users to pay rent for using the Ethereum network. The reason? Unprecedented growth of the platform and as a result increased amount of data that demands more nodes for storage. Buterin calculated that it might cost 15 cents per year to store 250 bytes. Sorry kids, it's time to grow up. Daddy wants rent. Last week Reddit stopped accepting Bitcoin, allegedly due to glitches in the system after Coinbase made some changes to its platform, a worrying sign that only highlights Bitcoin's woes regarding mainstream adoption. Reddit left a door open for re enabling bitcoin payments, depending on demand. In 2013, Reddit was an early adopter of bitcoin and many users of the platform are crypto enthusiasts. So perhaps this is not the end. I'll be back. Ripple just donated $29 million to fund 28,000 public school teachers across all 50 states. The donation in XRP, Ripple claims, is the largest ever donation to a single charity. The charity in question is donorschoose.org where schools list requests for things like young engineering programs or simply chairs. Coinbase turns smart and makes it onto the small screen. The largest US exchange announced plans to support ERC20 tokens Ethereum based smart contracts, though it did not specify the exact timing and any assets it plans to add, but the intention was good, so well done. Coinbase Coinbase also appeared on the HBO series Silicon Valley. Crypto is becoming more mainstream, so Coinbase tabs or spaces Bitcoin 2gen announced that its brand ambassador, Steven Seagal, is leaving following the completion of the ico. Bitcoin thanked its contributors, its anonymous founders, and Seagal himself. They said it was all part of the plan to keep cryptocurrency truly anonymous. Seagal joined the project amid allegations that the bitcoin project was a pyramid scheme. Seagal was available for comment, but we didn't want to speak to him. Telegram has closed the second round of their ICO, raising the total amount to $1.7 billion. The news comes a day after a severe messenger outage when, due to problems with electricity, Telegram was not available in Europe for several hours. With $1.7 billion, Mr. Durov, surely you have enough to pay the electricity bill. The outage also spurred scammers using fake Twitter accounts. They scammed Dura followers with another free giveaway. Did you enjoy the ride? Ready for the next one? Stay tuned and subscribe to Cointelegr.
