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Once again in the world of cryptocurrency, we have a mystery on our hands. A $720 million sleeping giant has woken up after four years, with $100 million moved to Bitfinex and Binance over the course of ten days at the end of August. The bitcoin wallet contains 111,114 BTC or 0.52% of the total supply. The sudden Continued
The post This Dormant $720 Million Bitcoin Wallet Has Woken Up But Who Owns It? appeared first on CCN
The SEC and FINRA scold some alleged crypto scams, the Winklevoss twins pop out a new stablecoin, and more in this weeks Hodlers Digest
Industry buzz surrounded Ethereum this week as community members
await the next stage of the coins development. The protocol also
served as the jumping-off point for a new fully regulated
Also in regulation, a New York judge issued a ruling this week that, if held up by a jury in court, could set a legal precedent for ICOs as securities; in other courtroom drama, the spaces longest running suit between two of its biggest players draws to an undisclosed close.
All the while, institutional-grade products and services continute to come to light.
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.
Following November 2018s DevCon 4 in Prague, Czech Republic, Ethereum will be due for an upgrade. Constantinople, as the hard fork is called, will implement five Ethereum Improvement Proposals (EIPs), introducing such changes as a a revamped gas scheme for transactions and reduced block rewards. To the common user, these EIPs are unlikely to cause too many noticeable changes, but they will give developers more creative and technical leeway when building DApps on Ethereums Virtual Machine.
Winklevoss-owned Gemini exchanged launched a stablecoin this week built on Ethereums ERC-20 standard. Endogenous to the exchange, which is fully regulated under New Yorks Bit Liscense, GeminiUSD (GUSD) was dropped without prior disclosure or media priming. The same day, settlement platform Paxos released its own stablecoin, the Paxos Standard (PAX).
Morgan Stanley is reportedly working toward a way into the the cryptocurremcy market. The legacy financial institution has been developing a institutional-grade bitcoin derivative that is tied to futures prices, a source close to the matter told Bloomberg this week. While the product is ready to go to market, Morgan Stanley is waiting to launch it until investor demand i...
With my last couple of articles, Ive taken the discussion away from price and volume, as I wanted to focus on the underlying bitcoin infrastructure and governance model, as well as on the technology developments that will push adoption. I believe it was worth it, as we really need to understand how this new distributed infrastructure and Continued
From time to time we all need a reminder that Bitcoin is much more than just an asset that can be checked on a daily price chart. Peter Thiel reveals that he believes the crypto vs AI dichotomy will shape the future of humanity, presenting us with a choice between a Big Brother totalitarian government and a world of greater liberty.
Peter Thiel, the Paypal co-founder and venture capital billionaire known to be long on Bitcoin, has given a lengthy interview on The Rubin Report discussing his views on...
We had the opportunity to interview Sam Cassatt at TechCrunch Disrupt SF. Sam is the Chief Strategy Officer of ConsenSys and has great involvement throughout the organization. Sam has an interesting background in that he worked on biocomputation in the field of Cognitive Science at John Hopkins and then consulted around the topic for years. Continued
The post Interview: Ethereum Development Studio ConsenSys CSO Sam Cassatt appeared first on CCN
The valuation of the crypto market has dropped from $205 billion to $199 billion, as Bitcoin dropped below the $6,500 mark once again. In the past three hours, the crypto market has rebounded by $2 billion to $201.5 billion, demonstrating some resilience in the $200 billion region. ETH, the native cryptocurrency of the Ethereum blockchain Continued
The post Dropping Bitcoin Volumes Brings Minor Market Retreat, Where Next? appeared first on CCN
Koreas LG UPlus is launching a blockchain-based cross-carrier overseas payment service together with Taiwan-based Far EasTone, Japans SoftBank and U.S.-based TBCASoft
Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat-to-crypto currency trading platform in Singapore and weve got the story in Sundays edition of The Daily. Also, two islands in Russia are competing to host the countrys first regulated exchange, and the ECB says Europe doesnt need a central bank issued crypto. However, Ukraines national bank is advancing with its plans to issue a digital coin.
Binance, currently the largest crypto exchange by daily trading volume, will soon be testing a new fiat-to-cryptocurrency exchange in Singapore. The news was spread on social media by Changpeng Zhao, the Chief Executive Officer of the Chinese-run trading platform. I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18, in 3 days. Invitation only first. Exciting! CZ said in a tweet this Saturday referring to his announcement during a crypto event in the Asian country. The new exchange will initially open in beta with an undisclosed number of invited users trading in a closed testing environment. The launch is scheduled for September 18. No further details have been revealed yet....
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This is a paid sponsorship by: - Discount Tool Set - Click NOW on: http://DiscountToolSet.com/ Good morning, Im still reporting on: State AG's - Break Up Google & Facebook?, 2372 Synopsis: Sessions alert. Woo, woo! Attorney General Jeff Sessions has invited 24 State Attorney Generals to a meeting to discuss breaking up Google and Facebook. The meeting will take place at the Justice Department on Tuesday, Sept. 25 to discuss whether social media companies are violating anti-trust laws following the recent congressional testimony of Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg. According to a report in PJ Media on Thursday, reported by Tyler ONeal, originally, only state AGs from 5 conservative states were invited to talk about a coordinated investigation earlier this year, however, an additional 19 have asked to attend from across the political spectrum. SUPPORT OUR SPONSORS: -- Nobel Gold. Go to Trumpcoin2020.com and use the code Coin to save $5 per coin, or text Coin to 511511. -- Virtual Shield VPN - the easiest way to create a home VPN. Go to: https://www.virtualshield.com/billstill -- The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com - Trade Genius Academy. Learn To Profit Everyday In the markets! Click Here - http://www.tradegeniusacademy.com - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: BillStill.com/StemCell - Cheap Cable TV - Call 1-888-742-8847. Click now: http://CheapCableTV.com - Discount Tool Set - Click NOW on: http://DiscountToolSet.com/ -Jeevy Computers: Move up to business-level computer protection. 800-844-8613 http://jeevycomputers.com/pcs/ Still Report BTC address: 18Ky2c3CgPY3eu5N7ySoM3X6NjgEAN2w4v Connect with me; Bill Still: newspaper editor/publisher, economics reporter - top US publications, authored 22 books, 4 documentary videos & daily host of this Y/T channel, THE STILL REPORT: https://plus.google.com/u/0/109353617116072656672 Get the word Out: Please LIKE, COMMENT & SHARE! Our website: http://www.billstill.com Considered by informed insiders as the ultimate resource for surviving economic or financial collapse/crash and attaining the unvarnished truth about the latest US and world news, current events in Washington, and todays United States political climate. Please Like, Comment & Share. Bill Still is a former newspaper editor and publisher. He has written for USA Today, The Saturday Evening Post, the Los Angeles Times Syndicate, OMNI magazine, and has also produced the syndicated radio program, Health News. He has written 22 books and two documentary videos and is the host of his wildly popular daily YouTube Channel the Still Report, the quintessential report on the economy and Washington. Connect with Bill Still: https:...
This is a paid sponsorship by: -- The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com Good morning, Im still reporting on: Joe DiGenova - FBI's Top Lawyer Has Flipped Synopsis: Yes, finally, justice is about to be restored. Indictments are coming out of the newly revealed federal grand jury. Last night, Joe diGenova, former U.S. Attorney for the District of Columbia, revealed that the former top lawyer for the FBI, James Baker, has flipped and is now testifying for the government and against those who participated in the Deep State coup dtat attempt. Yesterday, diGenova revealed the existence of this grand jury and said that it is charged with rooting out the conspiracy among the FBI and Justice Department during the 2016 presidential election and for the first months of the Trump administration. Forget about whatever the fake news outlets are trying to sell to their audience. This is the leading edge of what will be known as this generations Watergate. However, this is investigation is not leading to the downfall of a president. Joe diGenova believas that indictments and arrests of top FBI and Justice Department officials are coming. [insert up to Laura or a special counsel.] SUPPORT OUR SPONSORS: -- Nobel Gold. Go to Trumpcoin2020.com and use the code Coin to save $5 per coin, or text Coin to 511511. -- Virtual Shield VPN - the easiest way to create a home VPN. Go to: https://www.virtualshield.com/billstill -- The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com - Trade Genius Academy. Learn To Profit Everyday In the markets! Click Here - http://www.tradegeniusacademy.com - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: BillStill.com/StemCell - Cheap Cable TV - Call 1-888-742-8847. Click now: http://CheapCableTV.com - Discount Tool Set - Click NOW on: http://DiscountToolSet.com/ -Jeevy Computers: Move up to business-level computer protection. 800-844-8613 http://jeevycomputers.com/pcs/ Still Report BTC address: 18Ky2c3CgPY3eu5N7ySoM3X6NjgEAN2w4v Connect with me; Bill Still: newspaper editor/publisher, economics reporter - top US publications, authored 22 books, 4 documentary videos & daily host of this Y/T channel, THE STILL REPORT: https://plus.google.com/u/0/109353617116072656672 Get the word Out: Please LIKE, COMMENT & SHARE! Our website: http://www.billstill.com Considered by informed insiders as the ultimate resource for surviving economic or financial collapse/crash and attaining the unvarnished truth about the latest US and world news, current events in Washington, and todays United States political climate. Please Like, Comment & Share. Bill Still is a former n...
This is a paid sponsorship by: - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: BillStill.com/StemCell Good evening, Im still reporting on: It was a CIA deception operation, 2370b Synopsis: According to Fox News investigative reporter Sara Carter, 50,000 more text messages between FBI lovebirds Peter Strzok and Lisa Page will be coming out next week. But what is already crystal clear that this anti-Trump effort was either a CIA or an old KGB-style disinformation/deception operation from the beginning to try to unseat the new president from power nothing less than a coup dtat. SUPPORT OUR SPONSORS: -- Nobel Gold. Go to Trumpcoin2020.com and use the code Coin to save $5 per coin, or text Coin to 511511. -- Virtual Shield VPN - the easiest way to create a home VPN. Go to: https://www.virtualshield.com/billstill -- The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com - Trade Genius Academy. Learn To Profit Everyday In the markets! Click Here - http://www.tradegeniusacademy.com - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: BillStill.com/StemCell - Cheap Cable TV - Call 1-888-742-8847. Click now: http://CheapCableTV.com - Discount Tool Set - Click NOW on: http://DiscountToolSet.com/ -Jeevy Computers: Move up to business-level computer protection. 800-844-8613 http://jeevycomputers.com/pcs/ Still Report BTC address: 18Ky2c3CgPY3eu5N7ySoM3X6NjgEAN2w4v Connect with me; Bill Still: newspaper editor/publisher, economics reporter - top US publications, authored 22 books, 4 documentary videos & daily host of this Y/T channel, THE STILL REPORT: https://plus.google.com/u/0/109353617116072656672 Get the word Out: Please LIKE, COMMENT & SHARE! Our website: http://www.billstill.com Considered by informed insiders as the ultimate resource for surviving economic or financial collapse/crash and attaining the unvarnished truth about the latest US and world news, current events in Washington, and todays United States political climate. Please Like, Comment & Share. Bill Still is a former newspaper editor and publisher. He has written for USA Today, The Saturday Evening Post, the Los Angeles Times Syndicate, OMNI magazine, and has also produced the syndicated radio program, Health News. He has written 22 books and two documentary videos and is the host of his wildly popular daily YouTube Channel the Still Report, the quintessential report on the economy and Washington. Connect with Bill Still: https://www.youtube.com/user/bstill3 https://plus.google.com/u/0/+BillStill http://billstills.blogspot.in/ https://twitter.com/billstill https://www.fac...
Here at NewsBTC we believe that education and knowledge is fundamental to the wider adoption of cryptocurrencies and growth of the blockchain industry. We will be expanding our education section by delving deeper into some of the machinations and technology behind the blocks. Our weekly articles aim to provide a greater understanding of how things work in the crypto ecosystem.
Following a number of attempts at a digital currency, the most successful being B-money, the enigmatic Satoshi Nakamoto began working on his whitepaper in 2008. In October of the same year it was published, titled Bitcoin: A Peer-to-Peer Electronic Cash System.
The nine page paper outlined the design and justification for a digital currency with the intention of doing what no other attempt could do before: create an anonymous, trustless, decentralized currency.
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.
The proof-of-work protocol was developed from Dai Weis B-money in order to enforce a one CPU one vote policy as outlined by Nakamoto in his now famous paper. Unlike traditional money, Bitcoin was also designed to be a deflationary currency, meaning that there will only be a limited amount of them that will ever exist, specifically 21 million. The reward miners get for finding each new block decreases over time and is halved every 210,000 blocks, approximately every four years. It started off at 50 BTC and is currently 12.5 BTC.
Satoshi was not fond of the modern banking system, particularly fractional-reserve banking whereby a bank accepts deposits, makes loans or investments, but is required to hold reserves equal to only a fraction of its deposit liabilities.
According to Wikipedia, Nakamoto claimed to be a man living in Japan, born on 5 April 1975. The true identity remains a mystery however there has been several claims to Bitcoin creation fame over the past decade and a lot of speculation. These included Australian academic Craig Wright who was proved to be a hoax, and more recently SpaceX founder Elon Musk who has denied the claim.
In the ear...
Tezos, the eighth largest initial coin offering (ICO) in history, is launching its mainnet on Monday. Ahead of its mainnet launch, the price of XTZ, the native token of the Tezos network, surged by more than 50 percent. Since September 9, XTZ has increased by over 52 percent from $1.15 to $1.75, prior to its Continued
The post Tezos Surges 50% in a Week Ahead of Scheduled Mainnet Launch on Monday appeared first on CCN
This is a paid sponsorship by: - Trade Genius Academy. Learn To Profit Everyday In the markets! Click Here - http://www.tradegeniusacademy.com Good evening, Im still reporting on: Dems Desperate Smear Attempt on Kavanaugh, 2369 Synopsis: There is no way the Desperate Dems can stop Judge Kavanaugh from being confirmed to a seat on the U.S. Supreme Court which they have agreed to vote upon on Sept. 20th. So, they are reduced to the typical Democrat sleeze, no-holds-barred, 11th-hour sex allegations that nearly derailed the Clarence Thomas nomination 28 years ago. Sen. Dianne Feinstein claims to have been sent a letter last summer from a woman who refuses to be identified concerning an incident that occurred in the early 1980s at a party associated with the high school prom. Feinstein sent a referral for a criminal investigation of the incident to the FBI yesterday, but within hours, the FBI refused because it was not within their jurisdiction, not to mention that it was a clear political stunt. The woman who was the supposed author of the letter has refused to give any interviews to anyone or make herself known in any way. Support Our Sponsors: Nobel Gold. Go to Trumpcoin2020.com and use the code Coin to save $5 per coin, or text Coin to 511511. -- Virtual Shield VPN - the easiest way to create a home VPN. Go to: https://www.virtualshield.com/billstill - The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com - Trade Genius Academy. Learn To Profit Everyday In the markets! Click Here - http://www.tradegeniusacademy.com - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: BillStill.com/StemCell - Cheap Cable TV - Call 1-888-742-8847. Click now: http://CheapCableTV.com - Discount Tool Set - Click NOW on: http://DiscountToolSet.com/ -Jeevy Computers: Move up to business-level computer protection. 800-844-8613 http://jeevycomputers.com/pcs/ - Wild Alaska Chaga Tea. To order CLICK NOW: https://alaskachaga.us SUPPORT OUR SPONSORS Still Report BTC address: 18Ky2c3CgPY3eu5N7ySoM3X6NjgEAN2w4v Connect with me; Bill Still: newspaper editor/publisher, economics reporter - top US publications, authored 22 books, 4 documentary videos & daily host of this Y/T channel, THE STILL REPORT: https://plus.google.com/u/0/109353617116072656672 Get the word Out: Please LIKE, COMMENT & SHARE! Our website: http://www.billstill.com Considered by informed insiders as the ultimate resource for surviving economic or financial collapse/crash and attaining the unvarnished truth about the latest US and world news, current events in Washington, and todays United States political climate. Please Like, Comment & Share. Bill Still is a former newspaper editor and publisher. He has written for USA Today, The Saturday Ev...
Summer is almost over, so its time to think of the most crypto-friendly destinations for your next vacation
There has been a very minor pullback in crypto markets today. In general though things have been pretty static over the weekend and total capitalization has remained over $200 billion for another day.
Bitcoin has lost a fraction since yesterday and is currently trading at $6,500. The critical level is still the $6,600 resistance point for BTC though bullish momentum appears to have waned over the weekend. Ethereum has made another percent gain to lift it to $218 at the time of writing.
Altcoins are a mixed bag with more red than green on the boards this morning. In the top ten Bitcoin Cash, Litecoin and Monero have suffered 2-3 percent drops over the past 24 hours, the rest are flat with very little movement over the past day.
The top twenty shows a similar picture with most altcoins falling back a percentage or two. Following its big pump yesterday, Tezos has fallen back 4% on the day to $1.59. Only Dogecoin is back in the green with a 1.7% gain on the day.
The bigger scene in the top one hundred reveals that Aurora is again top gainer with 11% on the day. Bitshares and Populous are also up 6-7 percent over the past 24 hours. At the messy end of things is Rchain dumping 11% followed by Nano and Zcoin losing 6-7 percent on the day.
Total crypto market capitalization has not done much since yesterday. Following a dip to $199 billion they have recovered slightly to trade at just below $202 billion where they were this time on Saturday. Trade volume has fallen marginally to just over $10 billion on the day. Over the past week markets are up a little but the monthly view sees them down almost 4%. Bitcoin dominance is still strong and is currently 55.7% of the market.
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Cryptocurrency Market Update: Waiting For Momentum On Sunday appeared first on NewsBTC.
A new study has concluded that hard forks are a threat to the adoption of cryptocurrencies. This is because splits in the blockchain of a particular cryptocurrency tend to lead to the erosion of trust. Additionally, such splits reduce users confidence in the capacity of the affected cryptocurrency to continue thriving as a medium of Continued
The post Hard Forks Hinder Mass Adoption of Cryptocurrencies: Study appeared first on CCN
Amid regulatory uncertainty, the ICO industry has all but cut off retail investors. But will a new model open it up again? Civil is testing it.
In recent news pertaining to cryptocurrency exchanges, Australias financial regulators have expressed skepticism regarding Coinjars purported trade volume, Paysend has partnered with Bitstamp to facilitate cryptocurrency purchases through its Global Account, and Seed Cx has announced a $15 million USD Series B funding round.
In a recent interview with Business Insider, Jordan Michaelides, Coinjar...
Although the collective value of all crypto markets is only a tad above its year-to-date low, institutions still seem poised to tackle digital assets head on, with an array of Wall Street giants making meaningful moves throughout the past week.
On Thursday, CNBC divulged that BitGo, a well-known American cryptocurrency infrastructure provider, had received a regulatory green light from South Dakotas Division of Banking to make a foray into offering custodial solutions for institutions. More specifically, the startup collected a state trust company charter from the aforementioned governmental body, which reportedly makes its crypto custody solution the first that is fully regulated.
Following this development, Mike Belshe, the CEO of BitGo, sat down with CNBCs Fast Money panel to discuss his firms newest product and the current institutional climate surrounding the cryptocurrency industry. Belshe first pointed out that institutions are interested in this space, which shows real promise, without a doubt, adding that interest from the aforementioned subset of firms will only continue to grow.
Closing off the segment, Brian Kelly, referencing the knowledge he gained as the CEO of the crypto-centric BKCM, noted that this may just be the product that institutional investors have been waiting for and that BitGos custodial solution is making him much more optimistic.
As reported by NewsBTC on Thursday, insiders revealed that Morgan Stanley, one of the leading firms on Wall Street, has already developed the infrastructure that would be required to back Bitcoin derivatives. As such, it was relayed by Bloomberg that the firm reportedly has plans to launch a Bitcoin swaps vehicle on the condition that established institutions show sufficient interest and demand. Additionally, the firm is said to be going through an internal approval process to verify that the aforementioned swaps are ready to hit the streets, Wall Street if you may.
It is important to note, however, tha...
The virtual machine that allows ethereum to compute everything in a decentralized way is getting a massive overhaul.
According to Jay Krishnan, the CEO of T-Hub, Indias largest startup incubator & venture advisor to SRI Capital, Bitcoin has failed due to $20 transaction fees. Except that since December, for over nine months, the median transaction fee of Bitcoin has remained below $0.2. In December 2017, the demand for Bitcoin and other major cryptocurrencies Continued
The post Indias Biggest Startup Incubator CEO [Falsely] Says Bitcoin Failed Due to $20 Fees appeared first on CCN
Over nearly three days on the University of Wyoming campus in Laramie, more than two dozen hacker teams competed for cash and prizes in the states first ever Wyohackathon: Breakin Through. Organized by the Wyoming Blockchain Coalition, the event included speakers from industry luminaries, and all three of the states gubernatorial candidates made an appearance.
When asked about the hackathons result, The event smashed our expectations, organizer Caitlin Long replied enthusiastically to news.Bitcoin.com. We anticipated about 10 teams would compete but we had 27. The quality of the submissions was terrific, including one from a senior Google engineer, and I believe more than a handful of these projects will turn into real businesses.
Wyoming has quietly, ploddingly built up quite a reputation within the cryptocurrency community. Just this year alone, the states legislature approved close to half of a dozen blockchain friendly laws at the behest of Representative Tyler Lindholm and the newly formed Wyoming Blockchain Coalition....
Innosilicon has just launched another BTC ASIC miner called T2Turbo+32T, a 32 THS miner that can run up to 36 THS according to the company with a power usage of 2200 Watts. What the company did with the new miner is to use the same 10nm ASIC chips like their previous 24 THS T2T-24T Bitcoin ASIC, but adding more chips running at lower operating frequency and delivering better efficiency per Watt. The efficiency in normal mode is 68 W/TH and the miner can apparently run in high-performance mode delivering up to 36 THS. Innosilicon currently has a special promotional price for the Innosiicon T2Turbo+32T of $1568 USD for online order with limited quantities available.
It seems that Innosilicon might be taking the lead in ASIC chip development for mining crypto currencies lately in terms of performance and efficiency even though it is not the largest company in this sector. Probably the fact that matters here is that the company has been designing and manufacturing chips even before venturing in the crypto mining market unlike most of the dedicated crypto ASIC manufacturers. What they still do seem to need to address however is their customer communications and service as this is what most customers that have some issues with their products issues are complaining from with Innosilicon
Make sure you check out our previous edition here, now lets go over what happened in crypto this week. Also, make sure you subscribe for this weeks edition of The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify, Soundcloud, YouTube or wherever you get your podcasts. Price Watch: Bitcoin is up 5.46% this week to $6,500 after a somewhat tumultuous week. On Monday, we reported that despite Bitcoins Continued
The post Sharding, True USD Launches and More Custody Players: This Week in Crypto appeared first on CCN
U.S. law enforcement agencies have started their money laundering investigations of Danske Bank, Denmarks largest bank, according to the Wall Street Journal. Citigroup and Deutsche Bank have been implicated. Danske Bank is also currently under investigation by Denmark and Estonia and its CEO reportedly ignored warnings of suspicious transactions.
The Wall Street Journal reported on Friday, September 14, that The [U.S.] Justice Department, Treasury Department, and Securities and Exchange Commission [SEC] are each examining Danske Bank after a confidential whistleblower complaint was filed to the SEC more than two years ago, citing a person familiar with the matter. According to the person and the documents the news outlet has reviewed:
U.S. law enforcement agencies are probing Denmarks largest bank over allegations of massive money la...
This week a blockchain researcher named Alex Lebed published a code review on the new stablecoin, the gemini dollar, created by the Gemini Trust cryptocurrency firm. According to Lebeds study, gemini dollar accounts can be frozen by the exchange, and the tokens can be turned into non-transferable assets.
The latest tether (USDT) competitor, the gemini dollar (USDG) created by the cryptocurrency exchange owners the Gemini Trust, has had a code review this week. A post written by Alex Lebed details that exchanges new stablecoin creation has some interesting central...
A bill that leaves crypto-to-crypto trade outside of the scope of government regulation has been filed in the Ukrainian parliament. The draft has been signed by 23 members of...
Smart contracts on two EOS gambling platforms have been hacked in the last four days to the tune of more than a quarter of a million dollars, with another platform paying out $600,000 to one user in an unusual-looking jackpot which EOSBet insists was simply luck. DEOSGames Hacked $24,000 Stolen We are back up Continued
The post Two EOS Gambling Platforms Fall Prey to $260,000 Hack appeared first on CCN
We were able to sit down with Ethereum and ConsenSys Founder Joseph Lubin last week at TechCrunch Disrupt SF and talk to him about some of the projects that ConsenSys is working on. [Editors Note: This interview has been edited for clarity] CCN: What is ConsenSys? Joseph Lubin: ConsenSys is a venture development studio with Continued
The post Interview: Joseph Lubin, Co-Founder of Ethereum & ConsenSys appeared first on CCN
The following opinion piece on Canonical Transaction Ordering (CTOR) was written by Jonald Fyookball the lead developer of Electron Cash.
Canonical Transaction Ordering (CTOR) is one of the planned changes for the November 2018 Bitcoin Cash protocol upgrade. There has been quite a bit of discussion in the Bitcoin Cash community about this change.
Also read: Philippines Okays PDAX Crypto Exchange
I had previously
published an article explaining in simple terms what the change
Although that article satisfied some readers and convinced them that CTOR is not dangerous, others were still critical and wanted to know if the change is necessary.
The questions on many peoples minds are: Why do we need CTOR? Why do we need it now? And are there other proposals that could accomplish the same thing?
I attempt to answer those questions
CTOR is part of a comprehensive technical roadmap designed to help Bitcoin Cash become peer to peer electronic cash for the entire world. More specifically, there is a clear and major benefit in CTOR which is that of faster block propagation. There are also some additional minor benefits. ...
As crypto prices downward streak rages on, comparisons to dot-com bubble ramp up
The World Economic Forum has outlined more than 65 blockchain use cases for environmental protection in a recent report
Williams %R, a technical analysis oscillator that demonstrates oversold or overbought conditions of an asset, is demonstrating highly oversold conditions for Bitcoin. As Olga Kharif at Bloomberg reported, the Williams Percent Range (WPR) of Bitcoin is hovering at around -83 percent. In WPR, -80 to -100 percent is considered oversold and -0 to -20 percent Continued
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The European Central Bank (ECB) is not issuing a digital currency any time soon, according to President Mario Draghi.
Hes argued that the blockchain technology is not mature enough for such a level of responsibility and physical cash remains widely used within the monetary union.
In a letter sent to Mr. Jons Fernndez, Member of the European Parliament, ECB President Mario Draghi said the central bank is analyzing the consequences of issuing a Central Bank Digital Currency and explained why there are no plans to launch one.
First, the technologies which could potentially be used to issue a central bank digital currency, such as distributed ledger, have not yet been thoroughly tested and require substantial further development before they could be used in a central bank context.
In 2016, the use of physical cash within the Euro monetary system accounted for 79 percent of all payments at point of sale and for 54 percent of the total value of those transactions. Non-cash payments have grown 7.9 percent in 2017, according to ECB research.
A number of countries have announced their plans to launch national cryptocurrencies or already conducted initial coin offerings (ICOs) to introduce a state-backed digital token.
In late February, Venezuela launched Petro, an oil-backed currency, which was automatically banned by the United States. Iran followed suit and announced it will implement the countrys first cloud-based digital currency to counter the international sanctions it faces ever since U.S. President Trump exited the nuclear deal.
China is also moving towards the launch of a national cryptocurrency, although the country is known to have a very strict policy regarding cryptocurrency trading. In June, Russian Central Banks Deputy Chair Olga Skorobogatova said: regulators of all countries agree that its time to develop national cryptocurrencies, this is the future.
Coincidentally or not, most countries who have announced national cryptocurrencies are run by authoritarian governments not keen on transparency. In June, Bitcoin developer...
September 15, 2018 brings the post-industrial financial world to a ten-year milestone. Lehman Brothers Holdings Inc. was officially shuttered on this day in 2008, rocking the entire planet. The event occurred just 110 days before a revolution its collapse helped to spawn: Bitcoin. A little-known economic philosopher, Ludwig von Mises, tried to warn many years ahead about the perils of allowing politicians to issue and steer money.
Investment banks successfully captured levers of government regulation, both sectors preying upon the need for housing, and together they created a moral hazard, leading to what is known as malinvestment, as predicted by a cranky, marginalized mid 20th century economist, Ludwig von Mises.
This is what happens when governments control money.
The phenomenon may have also helped hasten Satoshi Nakamotos white paper to be made flesh, as in early January of the following year, the Bitcoin network mined its first block. While the cryptocurrency phenomenon was founded in direct opposition to Wall Street and its finance system, what a difference ten years has made. Almost all happy talk the community engages in at present can be categorized as Wall Street worship: crypto enthusiasts now work to be absorbed into the very system predeces...
Just days after French soccer giant Paris Saint-Germain football club (PSG) announced its own cryptocurrency, complete with an initial coin offering (ICO), Brazils Ava Football Club has come up with a similar plan. Announced Wednesday, Ava FC has partnered with blockchain-based sports investment ecosystem SportyCo and football investment platform Blackbridge Sports to raise funds worldwide through the ICO, Continued
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The former CEO of a cryptocurrency company has been sentenced to prison time and ordered to pay $9 million in restitution due to his companys role in a major Ponzi scheme that cost hundreds of investors millions of dollars. The hearing comes as the U.S. government and regulatory agencies step up their crackdown on cryptocurrency-related fraud.
A District Court Judge in Connecticut sentenced 33-year-old Josh Garza to a 21-month prison sentence followed by six months of house arrest for his role in a Ponzi scheme based around the issuance of a cryptocurrency called PayCoin which entitled investors to a portion of another companys mining profits.
The scheme was conducted between May of 2014 and January of 2015 through four companies owned by Garza. These companies sold the rights and access to cryptocurrency mining operations and allowed investors to buy a portion of these operations through PayCoin and Hashlets, which claimed to give investors the rights to a portion of the profits from the mining operations.
John Durham, the U.S. District Attorney for Connecticut, spoke about the scheme, saying that hashlet customers, or investors, were buying the rights to profit from a slice of the computing power owned by the companies.
Although the operation seems legitimate on the surface, Garza made multiple claims that should have raised red flags for investors, including the guarantee that the price of the virtual currency wouldnt drop below $20 per unit, because the company would prop the price using their $100 million digital currency reserve.
After pleading guilty for defrauding investors and committing wire fraud, Garza was ordered to pay full restitution to all the investors that had lost their entire investments after the operations were found to be illegitimate. The judge required that Garza pay all the investors a total of $9,182,000 in restitution and was sentenced to 21 months in prison.
This past week, a New York federal judge ruled that Initial Coin Offerings (ICOs) fall under the umbrella of securities offerings, opening up the gates for the Securities and Exchange Commission (SEC) to move to shut down fraudulent, or potentially fraudulent, ICO operations.
The ruling came about in a case regarding a man who has defrauded ICO investors by claiming, and providing falsified evidence, that the virtual currency was physically backed by diamonds and real estate....
This is why we cant have nice things. A few months ago, cybersecurity pioneer and noted provocateur John McAfee took to Twitter to implore his followers to flood Securities and Exchange Commission (SEC) Chairman Jay Claytons office with emails and calls. McAfee wanted them to demand that Clayton to whom he affectionately referred as Continued
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Crypto markets see another upswing after yesterdays decline, 17 out of top 20 coins by market cap in the green, Bitcoin above $6,500
Cryptocurrency prices are back on the mend after a great majority of digital assets plunged last week losing 10-20 percent or more in value. Since then, the digital currency economy has regained some strength bouncing back from a low of US$186 billion to $205 billion on Saturday, September 15.
Last week, as BTC/USD and ETH/USD short positions (bets against the cryptocurrencys price) stacked up reaching all-time highs, many traders were unsure of the outcome. Then, throughout much of the week, a good portion of digital assets except bitcoin core (BTC) lost significant value, bringing BTC market dominance close to 60 percent. However, 48 hours later cryptocurrencies like ethereum (ETH) rebounded in value and spiked 20 percent, bitcoin cash jumped over 15 percent and BTC prices saw a minimal 5 percent lift. This has led to BTCs market dominance among 1900+ coins down to 55 percent. All of the consecutive rises in value pushed the entire crypto-economy up over $19 billion leading to todays overall ...
Bitcoin on Saturday crossed above the $6,500-mark but lacked further upside momentum near the psychological resistance. The BTC/USD kickstarted the day forming higher lows towards 6475-fiat. The Asian trading session witnessed consolidated action within a narrow range defined by 6520-fiat to the upside and 6477-fiat to the downside. A breakout action appeared only during the early European Continued
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The Satoshi Revolution: A Revolution of Rising Expectations
Section 4: State Versus Society
Chapter 10, Part 4
Crypto and the New Cold War
History is written by the
Success is a great deodorant.
The winning side of a war writes the narrative; politicians, cultural leaders, educators, and the media create the facts that school-children know. The losing side can struggle for decades to crack open a window onto inconvenient truths and a more complete picture. Unimportant facts do not fare much better in textbooks. Marginalized nations and groups are overlooked or selectively noted according to their relevance to the winner-loser framework. Things get lost. Average people get lost, because history revolves not only around victors but also around kings and queens, presidents and generals. Average people are faceless subjects or cannon fodder.
The historical parallel to the crypto revolution is called the revolution of rising expectations. The term refers to a condition in which even a slight increase in freedom and economic well-being make people believe they can improve their lives. They can benefit their families and future through action. The phenomenon rocked marginalized nations after World War II, from the Far East to Latin America and Africa, and it sparked political revolutions. The new order was often unpleasant, but that does not makes the phenomenon less remarkable.
Nothing in living memory has destabilized the world as thoroughly as World War II, and its aftermath. It wrecked industrialized nations that had anchored Europe; the world map was redrawn; America became the dominant empire; communism became a bloc; and the Cold War defined foreign policy until the fall of the Soviet Union in 1991. The destabilization was more than political. It was also economic, social, and cultural, because the fa...
Fundstrat, a Wall Street-based investment firm led by Tom Lee, reported that the hashpower of Bitcoin has doubled since May. Despite BTC bear market, hashpower doubled since May to 57 EH/s Even with upgrades to existing equipment, implies almost 1GW of new power consumption vs 5.2GW in May 18. Breakeven now $7300 ($5300 cash Continued
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Is the ICO bloom falling off of its rose? ICO funding has fallen to just over $300 million, taking it to where it was in May of 2017, researcher Autonomous Next reported. The fall in the crypto markets capitalization could be pushing the trend, particularly Ethereum, the foundational platform for a large number of ICOs. Continued
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You may not know his name, but nearly every time you browse the internet, chances are youre running into technology the founder of Brave Browser and its native cryptocurrency token BAT created.
Eich stepped down from Mozilla and is now focusing his efforts on developing the Brave Browser as CEO of Brave Software.
According to Eich, the current internets current monetization system is mature, but troubled, suggesting that the human attention economy through the Basic Attention Token will eventually replace the need for fund-raising through sites like Patreon or through traditional programmatic digital advertising exchanges.
The Basic Attention Token is an ERC20 token on Ethereum designed to be a unit of account of human attention in a reformed and private system of internet advertising and anonymous contributions. This system could replace the current web digital ad system which has a number of problems, Eich explained.
Eich says the current $200 billion global advertising industry is inefficient due to the scale of the web. Because publishers and other websites rely on ad exchanges, excessive fees are involved due to so many middlemen having a hand in the process. Worse, Eich says, are the prominence of malware distributors who buy cheap ad spaces and put cuddly disguised exploit-kit loaders and fake ads.
You also get the counterpart abuse which is ad-fraud where fake publishers, fake humans played by bots, take ad-...
Cryptocurrency exchange Bitfinex is working on a project to launch a decentralized trading platform and weve got all the details here. Also in The Daily, Bitpanda adds Zcash to its offerings, Bitvo launches technical analysis tools, and Monex makes executive changes at Coincheck.
Bitfinex, the sixth largest crypto exchange by daily trading volume, has announced it will launch a decentralized trading platform. According to a post on Twitter, the new exchange, called Eosfinex, will facilitate a highly scalable network of peer-to-peer value exchange, unconstrained by borders and built around a foundation of transparency, speed and integrity.
In a blog post, Bitfinex notes that the platform, to be launched in the upcoming months, will be a high-performance, decentralized exchange built on Eos.io technology. The Hong Kong-based company explains that Eosfinex will be centered on three pillars: decentralization, trust, and performance. The team hopes to deliver complete decentralization through a trustless peer-to-peer trading experience.
EOSfinex will facilitate a highly scalable network of peer-to-peer value exchange, unconstrained by borders and built a...
Earlier this week, the crypto market seemed to be initiating a strong corrective rally, as Bitcoin breezed past $6,500. However, in the past 24 hours, the crypto market demonstrated a slight decline in value from $204 billion to $198 billion, as small market cap cryptocurrencies and tokens struggled to maintain momentum. While the crypto market Continued
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We cant confirm for sure yet, but we are seeing a lot of reports coming from Asia about what seems to be the first Lyra2REv2 ASIC miner called DAYUN Zig Z1 getting released. A 28nm-based ASIC miner that is capable of producing 6.8 GHS Lyra2REv2 hashrate with about 1200 Watts of power usage (176.5 W/GH efficiency) is apparently already available for sale with a price range of about $8000-9000 USD. This would mean that profitability for GPU mining coins like Monacoin (MONA), Vertcoin (VTC), Verge (XVG) and others using the Lyra2REv2 algorithm will start dropping further making them unprofitable to be mined with GPUs really soon. It is interesting to note that none of these popular Lyra2REv2 coins is showing significant change up in their network hashrate lately, meaning that either these devices are just getting out of production now and on sale, or they are being produced just now
From Uzbekistans pro-crypto laws to Kazakhstans blockchain plans and more: Heres how cryptocurrencies are treated in Central Asia
A few days ago the Bitcoin Interest (BCI) fork of Bitcoin has successfully switched to the ProgPoW algorithm, becoming the first crypto coin to actually utilize this new algorithm. ProgPoW is a proof-of-work algorithm designed to close the efficiency gap available to specialized ASICs. It utilizes almost all parts of commodity hardware (GPUs), and comes pre-tuned for the most common GPU hardware utilized in the Ethereum network. The design goal of ProgPoW is to have the algorithms requirements match what is available on commodity GPUs, so if the algorithm were to be implemented on a custom ASIC hardware there should be little opportunity for efficiency gains compared to a commodity GPU. This all means that in theory the ProgPoW algorithm will not see ASIC mining hardware, due to no opportunity to get much faster speeds compared to what a GPU is capable of delivering. This essentially means that ProgPoW should in theory be a really ASIC-resistant proof of work algorithm
If you are interested in more details you can check the official BCI website, and miners would most likely be interested in the mining software, pools and a Bitcoin Interest mining calculator in order to see what is the current mining profitability of your GPU rigs. Here you can also find a BCI Block Explorer to see how are things progressing with the Bitcoin Interest blockchain. You might also be interested in the Bitcoin Interest GitHub repository for the official wallets, miners and so on. BCI is currently being traded on a couple of exchanges including Bitfinex, Stocks.Exchange, HitBTC, Exrates and Trade Satoshi.
BCI Mining Pools:
Crypto markets have remained steady as we enter the weekend. No more gains have been made but they havent dumped again either. Total market capitalization has remained above $200 billion for the time being.
Bitcoin has not moved in 24 hours and is still trading at $6,530. It could go back up to $6,600 and either bounce off the resistance level or make a break out. Technical indicators are siding with bearish momentum at the moment. Ethereum has maintained its gains and has added another 4% today to take it to just above $215.
Altcoins are mostly in the green this morning according to Coinmarketcap. The top ten sees Monero out in front with an 9% gain to $122, while Litecoin is up 7% to $58 and Bitcoin Cash has lost out slightly. Further down the list things are pretty flat, Binance Coin is up 5% and Zcash 6%. Nano is doing well today also with a gain of 14% to $2.67.
Todays FOMO champion is Tezos which is pumping 25% on the day to trade at $1.62. On the week XTZ has climbed 38% from $1.23 and volume has surged from $2 million to nearly $7 million on the day. Tezos mainnet launch is imminent and Monday will see it go live;
Have a great weekend, everyone, because mainnet arrives Monday!
Tezos Foundation (@TezosFoundation) September 14, 2018
This is driving weekend momentum and Gate.io is getting most of the trade with over 70%. Tezos has made almost 40% on the month when most other altcoins have crumbled. After Tezos and Nano, Maker, Aurora and MOAC are the only other altcoins in double figures at the moment with the three tokens up 10 12 percent on the day.
Total crypto market capitalization has crept up about one percent on the day and is currently at $202 billion. Trade volume however as cooled off dropping from $14 to $11 billion. Bitcoin dominance is also falling back a little and is now down to 55.6%.
More on Tezos can be found here: https://www.tezos.com/...
Crypto industry unicorn Coinbase has aggressive growth plans for its newly opened New York office, which caters to institutional clients.
BMW Group financial services has announced its partnership with blockchain startup Bloom in a bid to streamline its customer journey and user experience, per a Medium post. Bloom helps to make the traditional lending process easier hence helping to reduce the risk that consumer data is exposed to. Individuals can secure their data on their Continued
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The government of Mexico has published provisions regarding cryptocurrency. The Bank of Mexico will decide which cryptocurrencies are legal and fintech companies must gain approval from the central bank to operate in the crypto space.
The Mexican government published a circular containing new legislation for the fintech industry on September 10 in the official gazette of the federation. It includes provisions for cryptocurrencies.
According to the president of the...
Amid crypto's war on ASICs, the Grin community is taking a new approach shut them out for a limited time with consistent hard forks.
Despite an overwhelming sense of bearishness in both the sentiment surrounding bitcoin and the price itself, there are many developments set to occur in the next 18 months that could kick off another bull run. Improvements to the bitcoin infrastructure seem to be happening at a pace never before seen in the space. However, the price has not responded to the fundamentals Yet.
There is no doubt about it, 2018 has been something of a reality check for many bitcoin enthusiasts. The exuberance of last years epic bull market seems to have largely given way to pessimism, and market sentiment surrounding the space is less optimistic than it ever has been in the memory of many participants.
However, as one Twitter user points out, bitcoin achieved its $20,000 all-time high without many of the developments that have occurred, been announced, or are expected to come in the next twelve months or so:
#bitcoin hit $20K last year..
without Goldman Sachs
without Morgan Stanley
without the #lightningnetwork
Relax the next rally will be bigger than you can ever anticipate.
Conan O'Bitcoin (@ConanOBitcoin) September 14, 2018
There is certainly a lot to be optimistic about in bitcoin right now. The number one cryptocurrency has grabbed the attention of some of the traditional financial industrys largest institutions and where once was scepticism, intrigue can now be found.
In the remainder of 2018 and going forward into 2019, there are many events upcoming that could well spark a bull run that will likely dwarf those all before it.
Firstly, there is the...
Medici Ventures, a blockchain/crypto specific division of Overstock.com, has acquired Bitsy.com in an effort to finally merge the worlds of online retail with decentralized, digital cash facilitated by the Bitsys new biometric wallet. The Crypto Winter, assuming it ends at some point, might be best defined by what companies in the space did to prepare for the future, to consolidate and increase relative positions as others retreated.
Overstock CEO Patrick Byrne announced, Bitsy sets a new standard for cryptocurrency wallets. It is a game-changer because it gives users the freedom that bitcoin has always promised. This new Bitsy wallet has extraordinary advantage in convenience versus anything currently on the market. In addition to setting a new standard for cryptocurrency wallets, integrating with Bitsy will allow Overstock to take the next step in its cryptocurrency journey by allowing the company to offer bitcoin for sale directly from the retail website.
As the press release elaborated, in addition to its acquisition, Bitsy has commenced the limited beta launch of a digital wallet service that creates a simple, secure, and convenient bridge between traditional fiat currencies and cryptocurrencies.
A gambling application that is based on the EOS blockchain has had a flaw in its smart contract system exploited. Hackers were able to make off with $200,000 worth of EOS due to the vulnerability.
Those behind todays attack exploited a weakness in one of the EOSBet platforms smart contracts. Following the incident, the service was taken offline whilst developers tried to pinpoint exactly how such an attack was possible.
According to a report by TheNextWeb, an EOSBet spokesperson has stated:
 A few hours ago, we were attacked, and about 40,000 EOS was taken from our bankroll This bug was not minor as was stated previously, and we are still doing forensics and piecing together what happened.
They added that the service should resume full functionality relatively quickly and that the incident was caused by a fault within the coding of one of their games. In addition, it appears that the hackers were able to target numerous games with the same code.
It seems that those behind the attack were able to trick the EOSBets transfer funds function by using a fake hash. The discovery was first made public by a member of the EOSBet Reddit community. The post by user thbourlove showed the code used to exploit the vulnerability. This was responded to by the platforms official Reddit account:
Yep, we were hacked. But we also have this exact assertion that you do. I would be careful, its a bit deeper than you think.
It seems that those responsible for the attack have attempted to make the transfers off the platform to the attackers wallet appear legitimate by creating an account that looks very similar to that of the official EOSBet wallet. They received small transactions from a number of accounts accompanied by the following message and other similar ones:
Memo: Please refund the illegal income eos, otherwise we will hire a team of lawyers in China to pursue all criminal liability and losses to you. Eosbet official eos account: eosbetdicell.
Taking a leaf out of the Twitter-bot scammers playbook of spreading ill gotten gains thinly across many wallets, the fake account then sent out many small amounts of EOS tokens to several accounts with this message:
A phishing scam which stole over $800,000 worth of XRP from dozens of victims in South Korea and Japan has been busted in a joint operation between the Seoul police cybercrimes division and the FBI. Two people have been arrested so far in relation to the operation, a computer programmer and his employer, according to Continued
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On September 13 the Money Button launched, allowing people the ability to integrate a Bitcoin Cash-powered payment button into any website or application. This week we tested the Money Buttons user interface with a website to see how easy it is to add a digital currency payment button.
Africa is often lauded as the next big thing for cryptocurrency adoption and development. But could poor internet access and connectivity slow down progress? A new report by the International Telecommunications Union (ITU) shows that it will cost $450 billion to connect 1.5 billion people most of them in Africa to the internet. African governments spend almost three times less than the global average on broadband connectivity. Then there is also the issue of low education levels, and high cost of internet-capable devices against low incomes. All these factors could combine to slow down the cryptocurrency revolution in Africa, a revolution that rides on reliable internet connectivity.
Also read: New French Law Sets Out Guidelines For ICOs
The debate about whether cryptocurrency can work in Africa could now be replaced by whether or not the continent of 1.2 billion people can possess the necessary infrastructure and technical know-how to allow virtual money to flourish unhindered....
Billionaire investor Tim Draper suggests that total crypto market capitalization will reach $80 trillion during the next 15 years
There are low time frame recoveries but it looks likely that our previous Cardano price analysis and subsequent price predictions remain true. This is despite the flurry of positive price boosting Cardano news which should naturally lift prices above its all-time-lows and main support at 7 cents. If anything, Cardano has a bearish outlook thats unless there is a high-volume break and close above 7 cents later today.
Its true that there is a positive correlation between altcoins including Cardano and Bitcoin. Dominating at more than 55 percent at the time of press, the founder of Cardano, Charles Hoskinson told Mpho Dagada that was it not for Bitcoin, we would not have Cardano, a platform that wants to change the way smart contracting is executed.
Thanks to the Cypriot Crisis in late 2012-2013, the event propelled the Bitcoin prices from almost zero to $250 giving it a pass to the media which in turn funneled as these investors keen on exploring the amazing technology and digital money.
The banking crisis in Cyprus did create problems but it was instead a platform for Charles Hoskinson to be a force in the crypto space which made him possible to create IOHK, Dan Larimer of EOS and Vitalik Buterin of Ethereum.
Since then, Cardano as an idea has been evolving. Currently, the team is even talking of developing solutions that continue to be problematic in the Bitcoin ecosystem. That of UTXO, or Unspent Transaction Output.
Besides, the platform under the Byron Stage is planning on Marlowe, a templating language platform with smart contracting capabilities. Marlowe will work together with Plutus, another of Cardanos blockchain language that allows smart contract compilation via Haskell.
Technically, ADA is the biggest loser in the top 10 dropping by 18 percent on a week over week basis. What this means is that last weeks solid candlestick is still a shadow for recent bullish events and could hamper recovery.
In any case anyway, last week remains an important candlestick in our analysis. It was a bearish engulfing bar breaking below 9 cents and retesting ADAs ATLs at 7 cents.
The level as we have seen in previous...
This week, FINRA debuted its regulation of the U.S. crypto market, while the SEC targeted crypto hedge funds in an apparent first. Here whats to come
According to a recent tweet, the Tezos Foundation will launch its mainnet on Monday, September 17
Just recently Josh Garza was sentenced to 21 months of prison and six months of home confinement for his role in the many Ponzi scams like Gaw Miners, Zen Miners, Hashlets, and of course the controversial Paycoin that appeared in 2014. Back then lots of people were scammed by Garzas schemes but he had a bunch of help bolstering his fraudulent ideas. Unfortunately, mainstream media and a slew of other online publications did a really good job in assisting Garzas pump-n-dump schemes and the Paycoin scam.
Like Mark Karpeles and Paul Vernon, Joshua Homero Garza is an infamous character thats been known for a lot of fraudulent cryptocurrency-related scams. Garza the controversial cryptocurrency executive and a few other associates are now paying for their crimes, but if it wasnt for mainstream media and other online publications his scams probably wouldnt have gone as far as they did....
Abra, a mobile cryptocurrency investing app, has added native bitcoin cash (BCH) support, allowing users to deposit and withdraw BCH directly, Abra announced on its website. Anyone who held BCH in Abra previously can now withdraw it to a hardware wallet or use it to make a payment on a merchant site. The app also Continued
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Samsung SDS will develop a blockchain platform for Koreas customs agency in order to fight customs fraud and forged documents
Recent developments show that fundamentals in the crypto sector are improving, but will prices follow? Lets find out
The altcoin market is stabilizing and poised to add more over the weekend due to specific candlestick formations in EOS, Litecoin, IOTA and Tron. Thats on top of favorable altcoins news that continues to trickle. Of all the coins under our review, Stellar Lumens price is slow to pick up and still trading below 25 cents. However, the general shift in momentum could aid thrust altcoin prices back towards profitability in the short to medium term.
Lets have a look at these charts:
EOS New York (@eosnewyork) September 13, 2018
A three percent drop of EOS price in the last day is nothing new and usually happens after periods of high volatility. On Sep 13, in the face of high market participation, EOS prices surged hitting the $5.5 buy trigger and positioning EOS coin for further gains.
Thats was expected yesterday but instead a lower time frame consolidation meant our previous EOS price analysis remains in loss making territory but today we might see higher highs.
Regardless, we keep in mind that any dip bel...
Cryptic Labs, a commercial blockchain research lab has announced the addition of two Economics Nobel Prize winners to its team. Dr. Eric S. Maskin and Sir Christopher Pissarides will provide their unique insights on incentive mechanisms, game theory and macro-economic policies to its Economics Advisory Board. Research Portfolios and New Roles Dr. Maskin, the Adams Continued
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Much has been made in recent days about how Gemini dollar (GUSD), a USD-pegged stablecoin created by the Winklevoss-founded Gemini cryptocurrency exchange, can help regularize cryptocurrency as a mainstream asset class. However, decentralization hardliners may be dismayed by the details of this grand bargain. GUSD Smart Contract Gives Gemini Broad Control Writing on tech publication Continued
The post Gemini Can Freeze its USD-Pegged Cryptocurrency at Any Time: Researcher appeared first on CCN
In a surprise move, tokenized project Cofound.it has elected to cease operations. The project, whose CFI token traded on Bitfinex, has decided to call it a day after reflecting on the changing market and the downturn that has turned once vibrant projects into barely going concerns. Onlookers will be watching to see whether Cofound.its decision will inspire other projects to follow suit, or go down in crypto history as an isolated case.
2018 hasnt been kind to tokenized projects. Even those that have secured listing on major exchanges, Cofound.it included, have struggled to gain traction and secure adoption. In a frank and forthright blog post, the Cofound.it team explains, The core idea of Cofound.it was to create an alternative VC ecosystem built around crowdfunding, democratisation and transparency. Instead, the larger ecosystem developed and...
A recent survey shows that almost twice as many millennial men invest in digital currency as women
Chen Min, the former chief chip maker at Bitcoin mining chip
developer Canaan Creative, is turning her attention to Ethereum.
Announcing her venture at the Ethereum Classic Summit in Seoul,
South Korea, Chens new company, Linzhi, will focus on building
cryptocurrency mining devices, and its first official products are
a series of application-specific integrated circuit (ASIC) miners
designed specifically for Ethereum and Ethereum Classic.
Ethereum ASIC miners are relatively new. The first group arrived five months ago in April by way of Bitcoin mining giant Bitmain. Known as Antminer E3s, they were first shipped out last July and cost approximately $800 per unit. The first batch sold out almost immediately despite several selling limits, including Bitmains one unit per user principle, and restrictions on shipping to both Taiwan and China. The company had been touting its new technology since early February.
Susquehanna analyst Christopher Rolland was one of the first voices to break the news. Rolland explained, During our travels through Asia last week, we confirmed that Bitmain has already developed an ASIC for mining Ethereum, and is readying the supply chain for shipments in [Q2 2018].
Unfortunately, the Ethereum community has posed several problems for Bitmain by seeking to halt the use of ASICs, which they believe cause centralization and prevent fair competition in the mining arena. Recently, a developer put forth an Ethereum improvement proposal (EIP) suggesting an Ethereum Network hard fork that would ultimately prevent the utilization of ASICs in Ethereum mining.
In addition to this EIP impediment, Bitmain faced criticism for the release of its latest chip, the Antminer X3, which was built to mine Monero. The currencys founder, Riccardo Fluffypony Spagni, claimed that the chip would be rendered inoperable by the time it was ready for release given that Monero was scheduled for a hard fork that would make it immune to ASICs.
Furthermore, Monero would undergo biannual changes that developers asserted would discourage both the centralization of mining and the use of ASICs when mining the currency. Prior to selling t...
Two US-based crypto behemoths, Coinbase and BitGo, will continue to facilitate growing demand for Bitcoin from institutional investors by operating as trusted custodians. Earlier this week, BitGo was approved by South Dakota regulators to create and operate a crypto custody solution, while Coinbase established a new office in New York exclusively to handle institutional demand Continued
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Tether, despite questions surrounding its finances, remains the dominant stablecoin. Following a recent announcement, is that starting to change?
With new regulation on cryptocurrency set to be released in the next few days, the Philippine crypto community holds its breath
All petitions against the crypto banking ban by the Reserve Bank of India (RBI) are supposed to have been heard by the countrys supreme court on September 11. However, the court has been busy every day this week and has postponed the RBI ban hearing.
The Supreme Court of India was supposed to hear all petitions regarding the crypto banking ban by the countrys central bank on Tuesday, September 11. The RBI issued a circular banning all regulated financial institutions from providing services to crypt...
Ethereum researcher and developer Vlad Zamfir has created the first successful proof-of-concept of second-layer scaling solution Sharding with developers Tim Beiko and John Marling. At ETH Berlin, one of the worlds largest Ethereum hackathons, Zamfir said in an interview with Rachel Rose OLeary at Coindesk that Ethereum developers will be able to run the proof-of-concept Continued
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Starting Monday, the beta phase for the Tezos blockchain will be over.
ICO regulation proposed by French minister of economy and finance accepted by government
In a recent interview, Sonny Singh, the chief commercial officer (CCO) of Bitpay, Inc, shared his outlook for the cryptocurrencies, emphasizing his optimism for the bitcoin markets, whilst also espousing a grim outlook for altcoins.
When asked if the cryptocurrency markets have seen the low of the bear season, Mr. Singh stated: Its hard to say I think right now the markets are looking for some defining moment or catalyst,  and right now you are just seeing rumors that someone might do something.
But I think next year you are going to see the big entrants become real, Mr. Singh continued, where you see, Goldman does launch a trading desk, Fidelity does launch a bitcoin product, Square offers bitcoin processing for merchants, Blackrock launches an ETF. So all of that will then become real, and you will se...
Japanese Fintech heavyweight SBI Holdings plans to launch a
Ripple-powered mobile payment application called MoneyTap. In a
shared with his followers, Takashi
Okita, CEO of SBI Ripple Asia shared the web page of the new payment application,
which promises to offer "easy bank transfer application" without
The exact launch date for the mobile app is uncertain, but the site gave an estimated timeline for the release of both the iOS and Android versions for Autumn of 2018.
Earlier this year, SBI Ripple Asia, a joint venture between SBI and Ripple, announced plans to create a "groundbreaking smartphone application" based on Ripple's blockchain technology which will allow bank customers to settle transactions instantly.
MoneyTap is expected to "provide on-demand payments" to Japanese customers through its consortium. The project is currently supported by the Japan Bank Consortium (JBC), a collection of 61 Japanese banks members brought together by SBI Holdings and SBI Ripple Asia. Some of these banks, namely, SBI Net Sumishin Bank, Suruga Bank and Resona Bank, will reportedly have priority to offer the service to its customers after launch, while the other banks will have access to the technology down the road.
The payment app hopes to increase the flexibility of domestic payments in Japan and eliminate the current time constraints imposed by traditional banking systems.
Once it goes live, the application will allow Japanese customers to conduct domestic transactions round the clock. In addition, the mobile app will eliminate "existing banking and ATM fees" that are currently applied to domestic transfers in Japan, making transfers faster and cheaper for consumers.
When the project was first announced, Okita stated his excitement, heralding that the mobile app and Ripples blockchain will "improve payments infrastructure in Japan."
Together with the trust, reliability, and reach of the bank consortium, we can remove friction from payments and create a faster, safer, and more efficient domestic payments experience for our customers, he added.
Emi Yoshikawa, director of joint venture partnerships at Ripple, added to Okitas excitement.
Were proud to provide this production-ready technology that not only improves the international payments experience, but also have applications for domestic payments infrastructure.
Can bitcoin be used for social good? If anyone thinks so, its
Ray Youssef, the CEO of peer-to-peer bitcoin platform
A successful entrepreneur in the crypto and blockchain space, Youssef comes from humble beginnings and understands the importance of maintaining control over ones finances. Marred by memories of homelessness and extreme monetary strain, Youssefs journey to build Paxful was an arduous one.
When my mother got divorced and lost her home that she had put so much into, I went into higher gear, he explained in an interview with Bitcoin Magazine. My first two startups were successful, but then I had 11 failed projects in a row. I took risks and kept taking them until my savings were gone, and I was so busy working on Paxful, trying to get it to work, that when I lost my apartment I went for walks at night and slept in a new place when my friends couldnt bunk me.
Youssef says things took a positive turn when he and his business partner chose to get serious about entering the crypto scene. A fellow bitcoin enthusiast told us about how you could sell bitcoins and make a profit, he says. That encounter made him look more closely at the world of peer-to-peer bitcoin trading.
We didnt know its potential back then we just saw that it worked for us and we wanted to make it even easier for other people to do the same, whether to start a business online or just get extra rent money.
Today, Paxful is a peer-to-peer online bitcoin platform that connects BTC purchasers with sellers. Currently, the site offers over 300 ways to purchase bitcoin including credit and debit cards, PayPal, Western Union transfers and even Amazon gift cards.
Buyers start out by finding an offer they like. They then work one-on-one with an experienced seller who guides them through the purchase process via online chat. Once everything is set, they pay the seller directly from a selected account to receive their coins.Every seller is verified to offer customers the highest level of safety, and Paxful will soon implement KYC in an effort to further protect buyers.
Once his marketplace was ready, Youssef convinced his closest friends to give it try. Things began to grow from there, but his big break came from a phone call he would receive one fortuitous morning:
I left my personal mobile number on the website to help people directly, but no one ever called until one lady desperately in need of bitcoins called me at 4 a.m. yelling at me in pain and claiming that she was down to her last $13. I believed her, and the crying baby in the background was the icing o...
According to LongHash, every year, more than $87.3 billion is spent on mining gold. In contrast, less than $4.3 billion is used to mine Bitcoin. Essentially, gold mining requires 20 times more energy and cost in comparison to Bitcoin mining, despite the narrative that has been circulating since the surge in the price of Bitcoin Continued
The post Mining Gold Requires 20x the Energy of Bitcoin Mining appeared first on CCN
The survey also found that roughly 25 percent of millennials are interested in investing in cryptocurrencies over the next year.
Lead application developer at Lightning Labs Tankred Hase joined the company in January 2018 and was assigned to oversee the apps redesign. Speaking with Bitcoin Magazine, Hase explains that the application preceding the current design was very much a prototype and built before his time with the company.
Sprint methodology refers to a five-day process in which critical business questions are resolved through designing, prototyping and testing ideas with customers. According to Hase, this is what caused the team to simplify the interface and make it easier to understand for those who are new to crypto. He says that the updated interface is less cluttered than other bitcoin wallets, tacking design and UX cues from more mainstream payment apps like PayPal or Venmo.
To make a payment, all a user must do is paste a bitcoin address or a Lightning invoice into the payment screen. The app then takes the appropriate next steps for the customer.
Were working on making the routing of payments more reliable, and I think this process will keep us busy for some time since this is a fundamentally hard problem, Hase said. Once we have solved it, many of the technical details that are still visible to the user today will hopefully disappear, or at least be available only under advanced settings. This should make things much more seamless for newcomers and non-technical users, Hase stated.
Im really optimistic that this will allow us to make bitcoin and Lightning more accessible, he continued.
One of the main issues surrounding the Lightning app is that its a hot wallet, meaning a users private keys are stored in the wallet and not in offline cold storage. Thus, the application is vulnerable to cyber theft. Looking to mitigate the risk of such events, Hase says the maximum amount of BTC the wallet can hold is limited to 0.16, m...
While Ethereum consolidates its growth, the wider crypto market is seeing dispersed corrections
Financial services giant Mastercard has invented a blockchain system that it believes can simplify business-to-business (B2B) transactions in a high-volume enterprise environment. That system is outlined in a series of three patent applications filed by the New York-based multinational firm in March, made public on Thursday by the US Patent & Trademark Office (USPTO). Writing Continued
The post Mastercard Thinks Blockchain Can Simplify B2B Transactions in New Patent appeared first on CCN
The startup behind Brave Browser has filed regulatory complaints against Google over the "massive" amount of user data exposed in online advertising.
Based on blockchain technology, most cryptocurrencies have an
open and public ledger. While this is required for these systems to
work, it comes with a significant downside: Privacy is often quite
limited. Government agencies, analytics companies and other
interested parties lets call them spies have ways to analyze the
public blockchains and peer-to-peer networks of cryptocurrencies
like Bitcoin, to cluster addresses and tie them to IP addresses or
other identifying information.
Dissatisfied with Bitcoins privacy features, several cryptocurrency projects have launched with the specific goal to improve on them over the years. And not without success. Several of these privacycoins are among the most popular cryptocurrencies on the market today.
However, as detailed in this months cover story, Bitcoins privacy features have recently seen significant improvements as well and are set to further improve over the coming months and years. This miniseries compares different privacycoins to the privacy offered by Bitcoin.
In part two: Monero
Monero (XMR) is a privacy-focused cryptocurrency. It is based on the innovative CryptoNote protocol which was first used in Bytecoin, but that project was secretly 80 percent premined. Without any such premine, Monero launched in 2014 (initially as Bitmonero), in effect as the honest implementation of the CryptoNote protocol.
While created by the pseudonymous developer thankful_for_today, this founder quickly wanted to take Monero into a direction the brand new community did not agree with; he was subsequently fired weeks after launch when the project was forked. Monero has since been led by a core team of about half a dozen developers. The best-known and visible of the group is Riccardo Fluffypony Spagni though Spagni is not as active in Monero development as he used to be. Most of the other core team members are pseudonymous.
XMR is accepted as payment on several dark net markets, for better or for worse, making it one of few altcoins that has found a non-niche use case beyond trading. Down from a top-...
Bitgo, a cryptocurrency security and custody company, has been granted regulatory approval to provide its storage services to the United States. Specifically, Bitgo will target U.S.-based institutional investors with its Bitgo Trust Company.
The South Dakota Division of Banking has approved Bitgo Trust Company as a public South Dakota Trust Company allowing the company to offer its cryptocurrency custody services to institutional investors in the United States.
Mike Belshe, the chief executive officer of Bitgo, stated: Custody has been the missing piece of cryptocurrency market infrastructure and this gap has kept institution...
U.S. CFTC Chairman J. Christopher Giancarlo has said that crypto needs the do no harm approach that regulators gave the early Internet
Bitcoin on Friday broke above its psychological resistance level near $6,500 and formed higher highs towards $6,600. The BTC/USD kickstarted the Asian trading session with an impressive rally from 6462-fiat to 6595-fiat. However, the pair failed to sustain the upside momentum near the new resistance and retraced back towards 6400-fiat. As it happened, BTC/USD made Continued
The post Bitcoin Price Intraday Analysis: BTC/USD in Near-term Rising Wedge appeared first on CCN
A blockchain-based platform aims to allow everyone with a smartphone to become a reporter and to earn by creating or watching content. Users can upload the footage of a newsworthy events and sell it to the media via a blockchain-based auction system #SPONSORED
Ethereum developers have confirmed an upcoming upgrade will activate on Ropsten around October 9.
Bitsy cryptocurrency wallet begins testing with Bitcoin
For the past nine months, the cryptocurrency market has seen steady declines, forcing most altcoin prices down 80 percent or more from their all-time highs. Even bitcoin, digital gold, has shed 68 percent from its mid-December peak. However, the wind, says billionaire Galaxy Digital founder Mike Novogratz, is about to shift. Writing on Twitter, Novogratz, Continued
The post Mike Novogratz Says the Cryptocurrency Market Has Found a Bottom appeared first on CCN
US-based cryptocurrency exchange Bittrex is reportedly launching a crypto exchange in Malta at the beginning of next month. Bittrex says the new platform will allow them to list coins a lot faster. It will operate within the regulatory framework established by the European Union and the Maltese government.
Bittrex has confirmed that it will open a branch in Malta on Oct. 1, as part of its global expansion plans, the Investor reported on Friday, September 14. Bittrexs co-founder and CEO, Bill Shihara, said at the Upbit Developer Conference on the South Korean Jeju Island:
We are now planning to launch Bittrex MaltaThis will allow us to list tokens a lot faster.
Ether's recovery from 13-month lows is being backed by daily trading volume not seen for a year.
Bitcoin bull Tim Draper has predicted that the market capitalization of cryptocurrencies will increase by four hundred times in the coming one and a half decades. Equating the current state of the crypto market to the early days of the internet, Draper, however, warned that the prices of bitcoin and other cryptocurrencies will first have Continued
The post Crypto Market Cap to Hit $80 Trillion in 15 Years: Bitcoin Bull Tim Draper appeared first on CCN
European Central Bank sees no need for an EU-wide digital currency, due to need for further research and growing demand for cash
The chief of the European Central Bank, Mario Draghi, said Friday that the institution has "no plans" to issue a digital currency, Reuters reports.
A top executive at one of the oldest and largest cryptocurrency payment processors said that he firmly expects bitcoin to rebound within the next year but that altcoin prices may never again see their early-2018 peaks. Sonny Singh, chief commercial officer at BitPay, said during an interview with Bloomberg that his firm has never been
The post Bitcoin Will Rebound, But Altcoins are Never Coming Back: BitPay Exec. appeared first on CCN
U.S. Attorneys Office District of Connecticut has announced Homero Joshua Garza (Josh Garza) has been sentenced to 21 months of imprisonment, followed by three years of supervised release, the first six months of which [Mr. Garza] must spend in home confinement, for his role in his companies purported generation and sale of virtual currency. The so-called stablecoin founder was also ordered to pay restitution of more than $9 million. After sentencing, he was released on bond, having been also ordered to report for incarceration at the start of next year.
Slightly more than four years ago, nearly a lifetime in the crypto space, Mr. Garza, 33, is alleged, over an eight-month period, to have through GAW, GAW Miners, Zen Miner, and Zen Cloud, companies he founded and operated, defrauded victims out of money in connection with the procurement of virtual currency on their behalf, according to a press release from the US Attorney from Connecticut....
New research from fintech analysts Juniper House has found that blockchains traction with large enterprises has risen by 11% this year
Medici Ventures, Overstocks blockchain technology company, has invested an undisclosed sum in a Utah based company called Bitsy that specializes in bridging cryptocurrencies with fiat. The investment marks one of several that Medici Ventures has made in recent years as its parent company, under the leadership of CEO Patrick Byrne, continues to tout blockchain technologys
The post Medici Ventures Latest Blockchain Investment Bridges Fiat With Crypto appeared first on CCN
Bitsy, a Medici Ventures portfolio firm, wants to spur crypto adoption with the launch of an ultra-simple, beginner-friendly wallet.
EF Hutton now wants to issue its own crypto tokens in addition to its crypto exchange and research pledges
Australias newly-elected Prime Minister Scott Morrison is pushing his agenda of backing blockchain technology to disrupt and bring much tougher competition to the big banks and other sectors in the country. Speaking to reporters within weeks of being sworn in as Australias newest prime minister, Scott Morrison was asked [full clip below] about his position on
The post Nerdy Australian PM Pushes Blockchain Agenda to Take On Big Banks appeared first on CCN
A former cryptocurrency entrepreneur will spend time behind the bars of a Federal prison after pleading guilty to defrauding customers of $9.2 million. According to court documents, Hartford Federal Court sentenced Homera Joshua Garza, 33, the former CEO of a now-defunct GAW Miners mining company, to a statutory minimum of 21 months in a federal Continued
The post GAW Minerss Josh Garza Gets 21-Month Prison Term for Defrauding $9.2 Million appeared first on CCN
South Korea's Customs Service is looking to adopt Samsung's blockchain tech to launch a decentralized exports clearance system.
Over the past week, Citigroup and Morgan Stanley have doubled down on their plans to offer tradable instruments and products around Bitcoin.
Alistair Milne, the chief information officer at Altana Digital Currency Fund, stated that the increasing interest towards cryptocurrencies as an asset class by banks and regulated financial institutions is crucial, as it demonstrates the rapidly growing demand for Bitcoin from institutional investors.
Goldman, Citibank, ICE. Now Morgan Stanley. All launching Bitcoin products and services because theres no institutional demand. Institutional money took the hedge fund industry from $300 billion to $6 trillion, Milne said sarcastically, implying that banks are seeing solid demand from institutions.
The wave of banks and regulated financial institutions entering the cryptocurrency sector by offering Bitcoin products was initiated by Goldman Sachs in mid-2018.
In June, Goldman Sachs CEO David Solomon publicly said that the bank has been clearing futures around Bitcoin on behalf of its clients.
We are clearing some futures around Bitcoin, talking about doing some other activities there, but its going very cautiously. Were listening to our clients and trying to help our clients as theyre exploring those things too. Goldman Sachs must evolve its business and adapt to the environment.
The positive attitude towards crypto by Goldman Sachs dated back to late November, when former chairman and CEO Lloyd Blankfein stated that it is arrogant to dismiss Bitcoin due to the lack of central authorities governing the asset because there exists a chance that the consensus currency could gain mass adoption.
A five dollar gold coin was worth five dollars because it had five dollars worth of gold in it. Then they issue paper money that is backed by gold in the treasury. Then one day, they issue paper money that does not have the backing of gold. There was no pledge that if you turn it in, Ill give you five dollars of gold. It is fiat money. I say this piece of paper is worth five dollars and so therefore it is five dollars and a lot of people did not take that for a long time. But, now they do without question. You move a little bit further and you get bitcoin that is not a fiat currency so I dont trust, it and I dont like it. On the other hand, if it works, I say maybe it was a natural progression from hard money to digital money,...
Despite a $200 pullback from eight-day highs today, bitcoin's recovery looks intact on technical charts.
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