Hi, I’m Nate Martin from 99Bitcoins.com and here’s what happened this week in Bitcoin. Google-owned video giant YouTube had erroneously removed several
cryptocurrency-related videos. YouTube representatives have claimed
that the removals were done in error and some content has started to be restored. Nonetheless, the unilateral nature by which
YouTube videos were removed has led many content creators to explore migration to
decentralized video hosting alternatives. At the same time, this wasn’t the only sudden and unexplained
ban that Google issued this week. Ethereum wallet and decentralized app browser Metamask’s android client
was banned from the Play app store. The MetaMask team attempted to appeal
the decision but it was promptly rejected. Tencent, the Chinese internet giant,
and owner of WeChat, is forming a team to explore possible
new use cases for cryptocurrencies. The new team will look at how to use digital
currencies in its payments platform and how they could be used within existing
and future regulatory regimes. Japanese e-commerce giant Rakuten now allows users to convert their loyalty points
to Bitcoin, Ether and Bitcoin Cash. Rakuten said the move is aimed at reducing the
barriers of entry into cryptocurrency trading. Bitcoin weekly trading volumes on the
LocalBitcoins peer-to-peer trading platform have hit new all-time highs
in Venezuela and Argentina. P2P trading volumes in Argentina started
setting records after regulators decided to limit and ban buying Bitcoin. Venezuelan citizens,
on the other hand, apparently use Bitcoin to escape
the extreme inflation of the bolivar. Before we conclude,
this week’s “Bitcoin quick question” is: Can I receive bitcoin when my computer
or mobile phone is powered off? The answer is yes, you can. The bitcoins will appear next time
you start your wallet. Bitcoins don’t really exist on your wallet,
they are in fact only a record on a public ledger that is shared between
all the wallets on the network. If you are sent bitcoins
when your wallet is not running, once you open it up
it will update its own records with any transactions
it did not already know about, and the bitcoins will eventually appear
as if they were just received in real-time. If you want to learn more about how this works
check out the link in the description. Have a question you want us to answer?
Just leave it in the comment section below. That’s what happened this week in Bitcoin.
See you next week.