Bitcoin Daily: John McAfee Bets Bitfi Wallet Is Unhackable, Analysts Say Bitcoin Is ‘Overbought’

Skrill is now allowing users to buy and sell crypto such as bitcoin, bitcoin cash and Ether, according to reports. When users make a transaction, Skrill uses a crypto exchange to buy and hold the digital currency. As of now, the feature is reportedly available in more than 30 countries and the company plans to bring it to more markets — as well as its mobile app — in the future.

Some analysts believe that bitcoin may be in overbought territory, as the popular cryptocurrency slipped on Wednesday (July 25), MarketWatch reported. Bitcoin approached $8,500 before falling closer to the $8,000 level during the day. The price of bitcoin was $8,274.72 as of 6:04 p.m. on Wednesday, according to CoinDesk.

In other news, Coinbase is teaming up with WeGift to offer cryptocurrency gift cards, The Next Web reported. However, the cards won’t be loaded with bitcoin or another digital currency, but with a local currency. According to reports, the gift cards can be purchased for France and the U.K., among a few other countries.

John McAfee has an offer for enterprising hackers: He is reportedly offering $100,000 to the person who can hack into the purportedly unbreakable Bitfi wallet, The Next Web reported. There are some rules, however, and would-be hackers need to purchase a Bitfi wallet and pay $50 for digital currencies to be loaded onto the wallet.

On another note, Chinese social networking platform Tianya Club is rolling out a Tianyan Token (TYT) at the beginning of August as a way to reward content contributions and community activity participation, CoinDesk reported. The coins will have a hard cap of 90 billion coins. Of that amount, 80 percent will reportedly be doled out to members.

Singapore Airlines has rolled out a loyalty program that is based on the blockchain, CoinDesk reported. Through a digital wallet dubbed KrisPay, customers will be able to change miles into units of payment to spend at partner merchants. The airline has unveiled 18 partners in Singapore, ranging from eateries to gas stations.

In other news, U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo said that the group is “falling behind” other countries on blockchain tech, CoinDesk said. The agency is tied down in some ways: It can’t, for example, operate a node on a banking consortium’s blockchain. The reason is that information sharing is a gift and the agency can’t accept gifts.

Qiwi CEO Sergey Solonin said that an employee had mined half a million bitcoins with the company’s payment terminals, CoinDesk reported. Solonin found that the developer had taken in approximately $5 million over a period of a few months by utilizing the hardware.