NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.

NairaEx / Bitcoin.NG NewsLetter – October Review


In an eventful month for the cryptocurrency market, October 25 saw Bitcoin price surge by 42% in 24 hours; its highest single-day rally since 2011.

The price pump saw the number 1 cryptocurrency, move from $7,400 per Btc to $10,400 within a few hours; setting the tone for a bullish scenario.

Although a retracement to below $10,000 ensued, traders and investors sure had taken profits; with many of the altcoins also seeing double-figure gains.

Recall that: It took Bitcoin under three (3) weeks to reach its all-time high from $5,500 to $19,873 in December of 2017; right before a strong bear market the following year.

Did you take profits from the crypto market pump?

Major Stories

11th Anniversary of Bitcoin’s White Paper

31st of October each year, the cryptocurrency community celebrates the Bitcoin WhitePaper, written by its creator Satoshi Nakamoto.

First drafted on Oct 31, 2008, and titled “Bitcoin: A Peer-to-Peer Electronic Cash System”, it highlights all the core concepts of the digital coin as proposed by Satoshi.

Read the Bitcoin whitepaper here:

Facebook CEO Mark Zuckerberg Engages US Congress in Six (6) Hours Libra Coin Hearing

In response to calls by the US Financial Services Committee, Facebook CEO Mark Zuckerberg appeared before the US Congress to testify about the Libra coin and other issues.

The 6-hour session saw the CEO outline potential benefits of the Facebook coin to customers and the UnitedStates, urging lawmakers to take heed of the industry before nations such as China capitalize.

See full details here:

China’s President Calls for Speedy Adoption of Blockchain Technology

President Xi Jinping of China had during a Political bureau meeting called for accelerated adoption of blockchain technology across the country.

The President emphasized the need for China to seal its spot as a global leader in the innovative industry. His comments were said to have tripled searches for blockchain and bitcoin in the country, as well as contributed to the Bitcoin price pump that followed.

 Full story here:

Hackers Demand $30K in Bitcoin after Attack on Johannesburg City Website

A group of hackers dubbed “the Shadow Kill Hackers” had taken over the Johannesburg city website demanding $30K (about 4 BTC) from the metro.

The activities of the group had shut down e-services, billing systems and call centers in the city. However, days after their 3-day ultimatum the city authorities have refused to pay.

Details here:

Nigeria Police Force Arrest Kidnap Suspect Who Collected Bitcoin Ransom

The Nigerian Police Force FCT command has paraded a suspect in the $15K Bitcoin Ransom collected from a PDP Chieftan after the abduction of his daughter.

The suspect was traced through the sim card used in the negotiations. However, a twist of events and difficulty in investigations has slowed down the apprehension of the prime suspect.

Full story here:

Other Headlines from October

UNICEF Launches Cryptocurrency Fund, Now Accepting Bitcoin and Ethereum Donations.

The United Nations Children Emergency Fund announced in October it has begun accepting and disbursing donations in cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

In an official statement by the organization, the initiative is part of its latest efforts to experiment with donations in ‘blockchain currencies’ and their potential benefits to transform charitable giving.

Bitcoin and Crypto Inheritance Now A Reality

A cryptocurrency startup – Casa has launched its Bitcoin inheritance service.

The new service dubbed ‘Casa Covenant’ now provides a mechanism for Bitcoiners to transfer or have their loved ones have access to their BTC in cases of death.

See more about Casa Covenant here.

Oxford Adds New Crypto Word – ‘Satoshi’ to its Dictionary

In new recognition for cryptocurrency, the Oxford English Dictionary (OED) announced its addition of the new word “Satoshi” to its books.

Satoshi which represents the smallest possible unit of Bitcoin is culled from the name of Bitcoin’s creator – Satoshi Nakamoto. The new word joins a list of cryptocurrency terms currently listed in the dictionary.

Details here:

HTC Introduces the First Smartphone to Run a Full BTC Node

Taiwanese smartphone giant – HTC this week unveiled its newly improved Exodus 1s mobile device.

The Exodus 1s comes with a unique capability to run a full bitcoin node, and includes other basic cryptocurrency features such as buy, sell, trade, borrow and lend BTC.

Have a first look at the device here:

New .crypto Domain Names to Replace Long Wallet Addresses.

Facebook Libra News

PayPal, Visa, MasterCard, and Five Others Quit Facebook’s Libra Coin Association.

Special Feature

Are Bitcoin and Cryptocurrency Transactions Totally Anonymous?

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About the author

By NairaEx
NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.