Day: June 26, 2018

Facebook Reverses Cryptocurrency Ad Ban

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Facebook Reverses cryptocurrency ad ban: Facebook banned crypto advertising on its platform back in January of this year. This was a blanket ban on all ads crypto-related necessary to protect its users from illegitimate promoters. It caused controversy. In the ever-swaying battle for and against cryptocurrencies, it seemed that all the major social media platforms had gotten together like twittering school girls to leave cryptocurrencies out in the cold. Google, Facebook, Twitter, Instagram, and Bing, had all banned advertising of any sort of cryptocurrency. If Facebook is starting to ease on…

Robinhood Crypto | Is a Crypto Wallet on the Verge of Being Made?

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Robinhood Crypto: Rumors are circulating the crypto industry this Tuesday morning. Normally, we see rumors of exchanges adding certain cryptocurrencies – but today, things are a little different. Robinhood Crypto: Looking for Crypto Engineers – Why? The week has only just kicked off, and yet, we’re already seeing speculation regarding the future of Robinhood, a stock and crypto trading app. On June 26th, Robinhood posted a job advertisement. Specifically, Robinhood announced that it is actively seeking multi-skilled crypto engineers. But why? The advertisement makes a reference to the creation of a…

Korea’s Exchange Hacks: What the Country’s Crypto Scene Is Saying

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The past two weeks have seen two South Korean exchanges get attacked and robbed, sparking commentary and critique among the country’s local cryptocurrency community. It began with the Coinrail hack on June 9. At the time, the popular South Korean cryptocurrency exchange tentatively announced a “cyber intrusion” that saw the loss of $40 million worth of cryptocurrencies. The exact number and amount of tokens taken from the exchange have yet to be confirmed by the company itself, though a third-party firm assisting Coinrail gave a few estimates in a blog post the following day.…

Nobel Economist Naysayer Robert Shiller Calls Bitcoin A ‘Social Movement’

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Robert Shiller, the Nobel Prize winner in economics who has called bitcoin a bubble, has observed that bitcoin is a social movement and its popularity in the U.S. varies based on geography, according to Bloomberg. He called it a non-rational response to new information. Speaking on Bloomberg TV with Guy Johnson and Tom Keene, Shiller, an economics professor at Yale University, said bitcoin is more popular on the West Coast than the East Coast, due to Silicon Valley’s interest in the technology. ‘Epidemic Of Enthusiasm’ Shiller, who predicted both the…

A ‘Visa Cryptocurrency’ Might Only Be Worth $3 Billion: Napkin Math

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Critics of the Bitcoin community’s decision to pursue a development path that prioritizes the coin’s utility as a store of value often allege that a payments-first focus is necessary to create a “base level of demand” for a cryptocurrency. However, writing on Twitter, BitGo co-founder Ben Davenport makes the case that the payments use case creates an almost negligible base level of demand since the network’s users would only need to hold the token as long as necessary to execute a desired payment. Davenport was responding to Civic CEO Vinny…

Jack Ma Launches Blockchain Remittance to Philippines, Bashes Bitcoin

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Alibaba Group’s affiliate, Ant Financial Services, is on the way to cutting the cost of remitting money to close to zero using blockchain technology. This is according to the online retail giant’s co-founder, Jack Ma, who said this during the launch of a blockchain-based money transfer service between Hong Kong and the Philippines. The remittance service will be operated by AlipayHK, a Hong Kong-based joint venture of Ant Financial as well as CK Hutchison Holdings, and GCash, a service of the Filipino telecommunication services firm, Globe Telecom Inc. Standard Chartered…

Bitcoin Price Building Relief Rally, But Resistance Hurdles Await

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Bitcoin (BTC) narrowly missed scaling a key resistance level on Monday, but remains on the hunt for a corrective rally, the technical studies indicate. The cryptocurrency flashed signs of bearish exhaustion yesterday, having defended the $6,000 mark over the weekend. As discussed, a close (as per UTC) above $6,250 (Doji candle high) yesterday would have likely set the tone for a stronger corrective rally. While prices did reach a high of $6,341 yesterday, BTC closed (as per UTC) at $6,247. So, technically speaking, the short-term bull doji reversal is yet…

A New Business Model Is Shaking Up the Crypto Exchange Rankings

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The recently introduced “trans-fee mining” revenue model is starting to change the cryptocurrency exchange landscape, despite some criticism of the method from industry insiders. According to CoinMarketCap, two exchanges have just shot to the top of the 24-hour trading volume rankings after rolling out trans-fee mining for users. The data shows that 24-hour trading volume on Singapore-based CoinBene is now almost $2 billion, while on Hong Kong’s Bit-Z the figure is close to $1.5 billion – both well ahead of the $1 billion in volume posted by the previous leader, Binance.…

Bitcoin Price Watch: BTC/USD Could Break Higher

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Key Points Bitcoin price traded with a positive tone and is currently below the $6,300 resistance against the US Dollar. There is a significant bearish trend line in place with resistance at $6,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to break the $6,290 and $6,300 resistance levels to gain traction in the near term. Bitcoin price is about to make the next move against the US Dollar. BTC/USD may perhaps accelerate gains above the $6,300 resistance if buyers take control.…

Ethereum Classic Price Analysis: Can ETC/USD Continue Higher?

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Key Highlights Ethereum classic price managed to gain traction and moved above the $15.00 resistance against the US dollar. There is a connecting bearish trend line formed with resistance at $15.90 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is likely to break the $15.90 and $16.00 resistance levels to move in the bullish zone. Ethereum classic price is gaining momentum against the US Dollar and Bitcoin. ETC/USD may perhaps break the $16.00 resistance to continue towards $18.00. Ethereum Classic Price Trend After a…