Facebook is set to go through another round of extreme questioning as it goes ahead with the plans to launch its controversial cryptocurrency Libra. The tech giant will face representatives of twenty-six central banks, including the Federal Reserve and the European Central Bank (ECB, in Basel, Switzerland, on Monday. The high-profile interaction would see global regulators dictating their...
Money managers are hungry for yield. Crypto continues to outperform just about any other asset class making this nascent market a hot-bed for alternative prediction solutions. And social media algos are front and centre of that speculation. Cryptocurrency prices, like foreign exchange, are largely decentralized providing plenty of opportunities for smart programmers to profit from the difference...
Watch the story of bitcoin told by CCN Tv. How it all started and the rise and fall of our beloved crypto-currency; Bitcoin!
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Let’s have a chat with Addy Crezee, CEO of Blockshow, where we are going to talk all about Cryptocurrencies.
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On June 30, according to a cryptocurrency trader, a single investor on Bitfinex placed a 20,000 BTC short order, betting more than $200 million that the bitcoin price would go down in the near term. Overnight, the bitcoin price fell from $11,900 to $10,765 as the valuation of the crypto market dropped by well over $20 billion within a span of hours. Unexpected drop, is a swift recovery for...
Grab your mine hats and antidepressant pills because we’re going to go on a gold heart bitcoin journey.
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With the rise of cryptocurrency, it makes sense bitcoin investors are in the crosshairs of not one but two government agencies, DOJ and IRS. Let’s watch my take on this
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By CCN: There are countless reasons why bitcoin and cryptocurrencies rank among the biggest bubbles in history and the dumbest places to put your hard-earned money. Bitcoin Investors Don’t Consider Volatility Bitcoin return or cryptocurrency return compared to stock market return means nothing unless one considers volatility. Volatility is risk. The fatal mistake investors make is that they...
By CCN.com: Whichever way you slice it the technical picture continues to look more and more bullish for Bitcoin. There is a distinct dip-buying pattern in BTC/USD, and the latest trough has been bought once again today. SFOX’s monthly cryptocurrency volatility outlook is here, and once more the fundamentals are bullish for the 4th straight month. The three cornerstones of SFOX’s outlook are...
A total of $38.06 billion have entered the emerging cryptocurrency economy in the past week. The cryptocurrency market cap, which combines the worth of all crypto assets in circulation, shot up towards circa $185.62 billion this Monday, up 28.58-percent from its weekly low. The surge began when dominant crypto asset bitcoin settled for a volatile upside action on April 2. The asset’s 23...
Another major cryptocurrency exchange has gone dark, and bitcoin traders once again fear that it is using “maintenance” to cover up a crippling hack. This time, the medal goes to CoinBene, one of the largest cryptocurrency exchanges according to CoinMarketCap.com. Per self-reported data, the platform enjoys over $780 million in daily trades through assorted cryptocurrencies including...
“Satoshi planted the seed of Bitcoin in the absolute moment of despair in the 2008 financial crisis and that wasn’t a mistake. That was a clear shot across the bow of central banks,” Dan Held, the co-founder of Interchange said in an interview to BLOCKTV. Held, who has been part of the San Francisco crypto community since its earliest days, is currently busy laying the...
Should banks design their own cryptocurrencies? According to Agustin Carstens, general manager of the Bank for International Settlements, the answer is a definitive “no.” Crypto Isn’t Cool? Carstens has never been a fan of crypto, having likening bitcoin to a “bubble,” a “Ponzi scheme” and an “environmental disaster” in the past. At a speech in Dublin, Carstens explained his fear of...
Visa Inc. is seeking a full-time technical product manager in Palo Alto, California. In a job posting to SmartRecruiters, the global card giant said it is looking for someone who is “passionate about the intersection of payments and cryptocurrency,” and “deeply familiar with permissionless blockchain technology.” With the additional job requirement of “a close...
The BitcoinTalk forum lost a third of its referrals from the bitcoin community in February, according to available traffic data from website analytics firm SimilarWeb. The old message forum was created by Satoshi Nakamoto in 2009. The very first bitcoin transaction was negotiated on the BitcoinTalk forum– 10,000 BTC for some pizza. But February referrals from several cryptocurrency websites and a...
North Korea has Cryptocurrency. A lot of it. In a piece from Nikkei Asian review, it was reported that experts have testified to the UN that Kim Jong Un’s regime is sitting upon more than half a billion US dollars’ worth of Crypto. Clearly, there are plenty of reasons why the sanctions beleaguered nation would want to put in such a big effort to amass such a horde of coins. As the rest of the...
Suspicious financial transactions filed by Japan-based cryptocurrency exchanges increased ten times over the previous year, according to the National Police Agency. The central enforcement body said Feb 28 that 7,096 out of the total 417,465 suspected money laundering cases mentioned the use of cryptocurrencies in 2018. In the period between April and December 2017, the agency had reported 669 of...
In a rare comment from Elon Musk on cryptocurrency, the Tesla and SpaceX founder said that Bitcoin “is quite brilliant.” He continued: “Paper money is going away and crypto is a far better way to transfer value than pieces of paper, that’s for sure, but it has its pros and cons.” Musk also gave Ethereum props on the ARK Investment podcast Tuesday (listen here):...
It’s time institutional whales put their money into cryptocurrency according to major investment management firm Cambridge Associates. IT’S TIME TO ‘BEGIN EXPLORING’ SAYS CAMBRIDGE ASSOCIATES The Boston-based consultancy only advises major institutions who manage more than $300 billion worth of clients’ assets. Cambridge was quoted in Bloomberg on Monday as saying: “Despite the challenges, we...
Cryptocurrency market started the week with an impressive rally, rising from $120.91 billion to as high as $126.391 billion in a day. At 0900 UTC, the global crypto market cap was valued at 126.30, up 4.45% from Sunday’s low, with all the top 10 coins trending into their green territories. Bitcoin, the index’s leading cryptocurrency, posted 3.01% gains according to 24-hour adjusted...
“S**t f**k, I agree with Nouriel,” said one cryptocurrency enthusiast in reference to NYU economist and vocal bitcoin bear Nouriel Roubini. Agreeing with Nouriel Roubini for a cryptocurrency lover was an unbelievable thing. The global economist called bitcoin “a mother of all scams and bubbles” before the US senators. He wrote elaborative anti-cryptocurrency reviews for...
By CCN.com: The South African Reserve Bank has released a consultation paper to regulate cryptocurrencies in the region. However, the government is seemingly introducing banking-like features to the crypto-markets, going against the very ethos of what Bitcoin stands for. The bank chooses to call cryptocurrencies as crypto “assets” over the former term, deeming the distinction makes it easier for...
Taxpayers in Chile are reportedly going to have to pay taxes on cryptocurrency earnings this year, as the country’s Internal Revenue Service (Servicio de Impuestos Internos, SII) has included a section for cryptoassets in a form that has to be filled on taxpayers’ Annual Income Tax Returns. According to local media, last year the country’s government ruled cryptocurrencies aren’t subject to Value...
Brazilian President Jair M. Bolsonaro has recently revealed through social media his administration has shut down a project that would see Brazil launch an “indigenous cryptocurrency.” The revelation came as he was criticizing the “BNDES black box” referring to contracts associated with the National Bank for Economic and Social Development, a federal public company associated with the Ministry of...
Non-accredited investors are finding it challenging to access investment opportunities in public-traded companies, said Paul Smith. The President and CEO of CFA Institute, an association of investment management professionals, said that public market capital has been on a decline in the US and European markets. He explained that many new ventures decide to run initial public offering rounds when...
Oásis Supermercados, a Brazilian supermarket chain located in Rio de Janeiro, has recently started accepting cryptocurrency payments after asking a local exchange for information, and training its employees on how to do it. According to local news outlet Portal do Bitcoin, the chain’s clients in Rio de Janeiro will now be able to pay for their things using Bitcoin, Bitcoin Cash, and Litecoin...
The latest football team to embrace cryptocurrency is the Brazilian football club Atletico Mineiro, who are amidst launching a crypto token for fans called ‘Galo Coins’. The relationship between the crypto industry and football is at an all-time-high as sports and crypto are a match made in heaven. As crypto looks to gain wider traction in the mainstream, nothing is more mainstream than football...
The Venezuelan government is reportedly going to present its oil-backed cryptocurrency, the Petro, to the Organization of Petroleum Exporting Countries (OPEC) as a unit of account for oil. According to local news outlet Telesur, the country’s petroleum minister and the president of state-run oil and natural gas company PDVSA, Manuel Quevedo, stated that Petro transactions will begin in the “first...
Bitcoin Cash on Thursday jumped more than 25 percent against the US Dollar owing to strong fundamentals. Bitmain, one of the world’s largest digital miners and also the most energetic backer of BCH tokens, yesterday applied for its long-planned IPO round. If accepted, the Beijing company will go public on the Hong Kong Stock Exchange (HKEX). The application, however, is in draft-state. It...
Over the past 24 hours, major cryptocurrencies like Ethereum, Ripple, Bitcoin Cash, EOS, and Litecoin have fallen by 1 to 4 percent while bitcoin price remained above $7,200. The stability of Bitcoin in the $7,200 range despite the price drop of major digital assets in the global market allowed the weekly price chart of BTC to demonstrate a possibility of a break out in the short-term. Meanwhile...
In the past 24 hours, the Bitcoin price has recovered from $6,800 to $7,000, as buy pressure in the higher region of $6,000 prevented a further fall to mid-$6,000. As bitcoin price rebounded and averted a large drop to $6,500, most tokens and small market cap cryptocurrencies recovered, pushing the valuation of the cryptocurrency market to $227 billion. WaltonChain Spikes 30% Internet of Things...
The Banco Central de Venezuela, Venezuela’s central bank, has recently launched an Android app to help the country’s residents convert the country’s old fiat currency, the bolivar, to the new Petro-pegged Bolivar Soberano – the Sovereign Bolivar. The app, first spotted by Bloomberg, is called “Calculadora Soberana” (Sovereign Calculator) and doesn’t do particularly complex math, as it pretty much...
Over the past 24 hours, tokens such as VeChain, Ontology, and PundiX recorded 50 percent gains against the US dollar, as the crypto market recovered and Bitcoin showed stability. VeChain recorded the biggest jump in value on August 17, spiking by over 50 percent against the US dollar, becoming the best performing digital asset this week. What Does the Strong Performance of Tokens Mean? In a bear...
Bitmain, the biggest crypto conglomerate in the global market, is expected to conduct one of the largest initial public offerings (IPOs) in history, alongside Visa and Facebook. $18 Billion IPO Throughout July, Bitmain, the Chinese crypto and blockchain corporation, touted its plans to initiate an IPO valued at $15 billion. It invested in multi-billion dollar cryptocurrency exchange Circle and...
Fred Schebesta, a 26-year old entrepreneur who co-founded comparison website Finder.com, wants to open a crypto bank in Australia. Schebesta believes that interest in cryptocurrency is growing and soon people will need an institution which can fulfill their crypto needs. Bitcoin is Not a Bubble In an interview with Australian news website News.com.au, Schebesta said that he didn’t care much...
On July 31, the price of bitcoin fell by 4 percent, from $8,150 to $7,800, as both major cryptocurrencies and small market cap tokens plummeted in value. Within hours after its 4 percent drop, the price of bitcoin rebounded from $7,800 to $8,150, demonstrating an instantaneous recovery from its relatively large drop. However, other major digital assets and tokens failed to recover, falling by...
Kim Dotcom has embarked on a project to create its own cryptocurrency that will enable direct monetisation by content creators rather than depending on third parties and intermediaries. The digital publishing industry is confronted with the outcry of fraud and poor remuneration for publishers among other vices. The bulk of these problems are blamed on the opaque nature of the industry due its...
The volume of bitcoin, the most dominant cryptocurrency in the global market, has risen by two-fold in the past week, supporting the recent mini bull rally of the crypto market. Last week, CCN noted that the low volume of bitcoin is a concern for the short-term trend of the market. For instance, on July 9, the volume of bitcoin was lower than that of Tether (USDT), a widely traded stablecoin...
Ivorian footballer Didier Drogba is the latest celebrity to join the long list of athletes who have endorsed cryptocurrencies this year. According to Russian news outlet RT, Drogba is the official ambassador for the cryptocurrency-based social networking platform All.me. Drogba explained that he believed in the project “a lot” and even wore a shirt with All.me’s logo to show his...
The cryptocurrency market has dropped by $5 billion over the past 24 hours, from $282 billion to $277 billion. Most major cryptocurrencies including Bitcoin have declined by 1 to 2 percent but did not demonstrate any major movement on both the upside and downside. Bitcoin and Ethereum outperformed the top 10 cryptocurrencies with a slight loss of 0.8 percent, while Ripple, Bitcoin Cash, EOS, and...
The cryptocurrency market has recorded a decline of over $25 billion overnight, after an abrupt bitcoin sell-off was recorded on June 10. Analysts have attributed the recent correction to a variety of factors but the market seems to have dropped due to a simple reason: a drop in volume and demand. Low Volume Since last week, despite the stability in the cryptocurrency market and the optimistic...
The cryptocurrency sector has produced many multi-billion dollar companies over the past nine years. Most notably, Coinbase, Binance, Bitmain, Bitfinex, UPbit, Bithumb, and Canaan have evolved into billion dollar juggernauts, competing against major conglomerates in regions like the US, South Korea, and Japan. San Francisco-based Coinbase now has over 20 million users, nearly as many as asset...
Earlier this week, I wrote on social media that it costs significantly less energy to produce cryptocurrencies like bitcoin and Ethereum. The responses were, “that’s not true, once fiat money is created, no additional energy is required.” Perhaps a better way to phrase the statement was to replace energy with resources, as fiat currencies do require significantly more resources than...
Since December 17, the bitcoin price has been on a continuous decline, falling from $19,900 to $5,980 at its yearly low. While the bitcoin price has seen two mid-term recoveries and corrective rallies, both failed to test two major support levels at $12,000 and $10,000. Market Manipulation Theory Recently, a group of cryptocurrency researchers and traders suggested that the bitcoin price has...
As CCN reported yesterday, on May 24, the bitcoin price dipped below $7,250 as a massive sell-off from the $7,700 mark intensified. After three consecutive sell-offs within a 24-hour period, the price of bitcoin dropped from $7,900 to $7,250, eventually stabilizing at $7,400. Bear Market The cryptocurrency sector is in a short-term bear cycle. In a highly volatile period like this, positive...
The bitcoin price has dropped below the $7,300 mark as the valuation of the cryptocurrency market declined by more than $25 billion, from $350 billion to $325 billion over the past 24 hours. Within the past three days, within merely 72 hours, the valuation of the cryptocurrency market sharply dropped from $390 to $333 billion, losing more than $57 billion. At its previously weekly low, the...
According to Toshi Times, Jose Dakak, the principal shareholder of Argentinian bank Banco Masventas, has stated that the bank will drop out from the global financial network SWIFT and begin utilizing the Bitcoin blockchain network to settle international payments. Can Bitcoin Replace SWIFT? Through a strategic partnership with Bitex, a cryptocurrency payment service provider based in South...