Day: September 2, 2018

TOM LEE: Ether futures might not be so good for Ether but and a good thing for Bitcoin

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Cboe is telling its trading firm clients that it is getting close to launching a market for ether futures, but that might actually be a bad thing for the cryptocurrency, one expert says.  Tom Lee, the notorious bitcoin bull who has a $25,000 price target for the coin, told Business Insider that ether futures could hurt ether and actually benefit its larger rival, bitcoin.  That’s because the launch of ether futures would provide an easy way for ether bears to bet against the coin. Futures, which give investors a way…

2.1 Million Transactions Cause No Surge in Fees

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The Bitcoin Cash (BCH) network experienced over 2.1 million transactions on September 1 as a result of the recently launched BCH stress test, according to data from BitInfoCharts. Bitcoin Cash transactions historical chart. Source: BitInfoCharts The “stress test” is a community driven test of the BCH mainnet and its services, according to the BCH stress test website. The test aims to process “millions of minimum fee transactions” within 24 hours in order to prove the Bitcoin Cash blockchain’s capacity and scalability, as well as to provide data for developers and…

BTC/USD Surges Towards Wedge Resistance

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Bitcoin price on Sunday continued to stick to its uptrend path, recording as much as 4 percent gains against the US Dollar. The BTC/USD began the Asian trading session with a small upside push in continuation of the overall bullish momentum. As the day progressed, there was visibly a weaker selling sentiment towards the interim resistance targets. The European session confirmed it by forming higher highs towards 7425-fiat, followed by a feeble bearish correction attempt. As we now enter the US session, the BTC/USD is attempting a rerun towards the…

New Study Highlights the Many Positives of Bitcoin Mining

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It’s become fashionable in public circles to bash Bitcoin on account of its energy consumption. Virtually every week, mainstream media (MSM) attacks bitcoin mining, painting alarmist pictures of a planet burning due to the ‘wasteful’ design of Proof of Work. The reality is less cut-and-dried. Bitcoin’s defenders have been hitting back lately, with one new study highlighting the many positives of PoW. Also read: Ludicrous Headlines About Bitcoin Mining Will Kill Us All The Case Against Proof of Work “It’s become popular today to dismiss Bitcoin’s Proof-of-Work as wasteful and bad…

Bithumb Re-Ups Sign-Ups, But Their ‘Airdrop Season’ May Be Affecting BTC More

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Bithumb Re-Ups Sign-Ups, But Their ‘Airdrop Season’ May Be Affecting BTC More September 2, 2018 by William Peaster Some in the cryptoverse have noted that BTC/KRW trades have seen a sharp uptick upon Bithumb, South Korea’s leading cryptocurrency exchange, re-opening new user registrations on September 1st. On the flip side, others have argued the spike is from Bithumb’s now ongoing “Airdrop Season,” which would be, well, a less sexy explanation than the metaphorical “dam” breaking over new traders signing up.  Also see: Big Blockin’: Bitcoin Cash Stress Test Day Produces 15…

Tom Lee: CBOE Ethereum Futures May Hurt ETH, But Benefit Bitcoin (BTC)

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BTC Could Rise As A Result of Ethereum Futures Even in a market downturn, development in this nascent industry rages, with firms continually releasing innovative products and services that could change the future of crypto. And as reported by Ethereum World News previously, the CBOE, the foremost US-based options exchange, is just months away from launching Ether futures that will be based on Gemini markets. This news immediately sparked speculation about the effect this vehicle would have on the market, with many optimists noting that this futures contract should help to propel…

Both Eminem and Yahoo Finance Embrace Bitcoin in Wins for Crypto Adoption

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Top Stories This Week Yahoo Finance Integrates Bitcoin, Ethereum, and Litecoin on iOS App Yahoo Finance has integrated BTC, ETH, and LTC on its iOS app this week, with a version briefly appearing and disappearing on its desktop version despite Yahoo noting that the desktop, mobile web, and Android version won’t be available for several weeks. A Yahoo Finance press release notes that users that wish to trade crypto on Yahoo Finance will have to link a broker account via integrated third party service TradeIt. “Operation Cryptosweep” Produces More Than…

How Venezuela Came to Be One of the Biggest Markets for Crypto in the World

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Venezuela has been living with hyperinflation since at least 2014. Its national currency — the Venezuelan bolívar — hit an official inflation rate of 57.3 percent in February 2014, while independent currency analysts were reporting that, by that September, the real inflation rate had already topped 100 percent. In other words, the bolívar (VEF) was depreciating rapidly in value, and ordinary Venezuelans needed something to fill the void it had left as a one-time viable means of exchange. By definition, hyperinflation is a state in which, as described by the…

Dogecoin Drops 35 Percent as Dogethereum Sentiment Wears Off

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Dogecoin today fell as much as 35 percent from its highest peak since March. The DOGE/USD yesterday established the intraday high near 0.00692-fiat after rising by more than 70 percent in just two days. Just before the yesterday’s close, the pair had undergone a bearish correction towards 0.00540-fiat. The Sunday’s trading session began on a bounce back from the said low, jumping as high as 0.0066-fiat. However, sellers began to take control during the mid-Asian, early-European session near the top. As a result, just before the beginning of the US…

Japan’s financial watchdog adds more requirements for aspiring digital currency exchanges

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The Financial Services Agency (FSA), Japan’s financial watchdog, has added more requirements for aspiring digital currency exchanges to fulfill before they can be cleared to operate in the country. The new requirements which will form part of the registration process have been increased four times with respect to the FSA’s previous requirements. Now, applicants will have to correctly answer close to 400 items as part of the screening process. Some of the new requirements include the need for those applying to be registered as cryptocurrency exchanges to provide “minutes of…