Day: June 15, 2018

Crypto News | Walmart Creating a Bitcoin-Powered Electrical Grid

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Walmart Creating a Bitcoin-Powered Electrical Grid – In many ways, blockchain technology is going to provide the world with a lot of good. However, the technology does have a couple of downsides. While there is an increasing concern over the energy consumption of blockchain, companies around the world are trying to reduce this problem’s severity.  The latest company to venture into solving this issue is retail behemoth Walmart. Walmart Creating a Bitcoin-Powered Electrical Grid  On Thursday, word broke that Walmart had won a patent for the development of a Bitcoin-powered electrical…

Quantstamp Defends QSP, Says Dollars, Ether Accepted Out of ‘Necessity’

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A week after Quantstamp community members began accusing the smart contracts auditing startup of undermining the value of its $65 million token, the company responded with a statement on Thursday. As previously reported by CoinDesk, for at least the past week, Quantstamp token holders have been alleging that the company misled them by accepting U.S. dollars and ether, rather than its token, QSP, as payment for its auditing services. According to the company’s published materials, customers are meant to trade QSP to pay for, receive and improve verification services within…

Bitcoin Price Watch | BTC/USD Shows Signs of Reversal, Back Above $6,500

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Bitcoin price bounced backed slightly on Friday morning amid a market-wide crypto recovery, settling above the $6,500 price level. A reversal is likely the result of a decision handed down yesterday by the Securities and Exchange Commission (SEC), which ruled that Ethereum is not a security. The price of Ethereum also shot up by 10% in response to the SEC decision. Previously, investors had been put off by reports in May that regulators were debating whether Ethereum, the world’s second-largest cryptocurrency by market capitalization, could be considered an equity. Even…

‘Gut-Wrenching’ Bitcoin Price Decline Driven by Futures Traders: Fundstrat

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The bitcoin price has experienced a “gut-wrenching” decline in 2018, and Wall Street strategy firm Fundstrat believes it has finally identified the reason why. Writing in a recent note to clients, Fundstrat founder Tom Lee stated that the bitcoin price tends to decline leading into futures expiration dates, suggesting that these products are a major driver of bitcoin’s movements. “Bitcoin sees dramatic price changes around CBOE futures expirations. This was something flagged by Justin Saslaw at Raptor Group. We compiled some of the data and this indeed seems to be…