Crypto Currency Markets Counterfeit “Made in Italy” products are sold in marketplaces around the world. The Italian government is now fighting back against these knockoffs by investing €15 million ($16.2 million) towards the development of a blockchain-based solution.

I want to preface this by saying, I am a complete noob and I barely know a thing about crypto, so please don't attack me. I'm curious and I happen to just want to look up Elon Musk's opinion on the matter. ( I will post link below)

He basically said that crypto networks are an "illegal to legal" bridge for transactions. He sees it as a replacement for cash but not a replacement for a primary database. And his last comment was pretty much, "there are a lot of things that are illegal that shouldn't be illegal."

In general, my question to the community is what do you all think about the future of crypto within the next 50 years? Also, what is the legality behind it all? I could see why a government would be against encryption and decentralization because they wouldn't be needed at a certain point. I'm just curious because I want to know how much time I should spend researching and investing into it.

Thank you,

submitted by /u/polydanger
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Facebook’s Libra Adds Three New Members Including Singapore-based Temasek

Posted: 15 May 2020 02:53 PM PDT

submitted by /u/HolaAditya
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Coinmarketcap’s First Move Under Binance Puts the Exchange top Based on Web Traffic

Posted: 15 May 2020 07:43 AM PDT

submitted by /u/paulemmanuelng
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CRYPTO WEEKLY NEWS — May, 15

Posted: 15 May 2020 01:34 PM PDT

What important crypto events happened last week?

📌 Pavel Durov has stopped working on the Telegram Open Network blockchain platform. He emphasized that he was unlikely to support alternative networks based on TON. Durov wrote that TON has been developed for two and a half years. It was supposed to surpass Bitcoin and Ethereum in speed and scale while maintaining the principles of decentralization. The integration of TON with Telegram could have revolutionized money transfers and information exchange.

📌 However, TON developers, large PoS validators, and the community have launched the core Free TON network with the native TON Crystal token (TON). Among the launch participants are TON Labs, P2P.org, Kuna, Everstake, Chorus, Bitscale Capital, and others. The corresponding declaration was signed by more than 170 companies and individuals.

📌 On May 14, the price of Bitcoin overcame the psychologically important mark of $9,500. At the time of writing, Bitcoin holds the level of $ 9,600, but during the course of trading, it was approaching $10,000.

📌 The developers of processors for ASIC-miners ran into the top bar of equipment optimization. This was reported by Alexei Petrov, CIO of Bitfury. According to him, a further increase in the density of transistors does not give such an increase in productivity, while the cost of production increases significantly.

📌 The People's Bank of China, the China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau submitted their opinions on how to finance the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, with an emphasis on global trade and finance.

📌 The $50 million Ethereum coins stolen from the cryptocurrency exchange UpBit again began to move: the hackers sent 802 ETN to the little-known BYEX exchange.

📌 Ethereum co-founder Vitalik Buterin said that he did not confirm the possible transition of the Ethereum ecosystem to stage 2.0 in July. Earlier, Buterin admitted that he had sinned more than once with erroneous forecasts regarding the timing of Ethereum development.

📌 Visa has filed a patent application secured by fiat and created on "centralized computers" digital currency, which can form the basis of a potential new technology used by central banks.

That's all for now!

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