Day: October 14, 2018

As Petro Launch Looms, Venezuela’s Bolivar Eyes 1,400,000% Inflation

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Based on findings from the International Monetary Fund (IMF), the annual inflation rate for Venezuela could reach as high as 1.37 million percent by the end of 2018. Inflation estimates for the country have risen several times this year as Venezuela struggles with policies and production — and prepares to launch its Petro cryptocurrency No Stranger To The Headlines Venezuela has made headlines many times throughout 2018 in its current struggle with inflation. CNN reports the cause of such inflation as the result of “years of excessive government spending on…

“99 Percent of Cryptocurrencies are Worth Zero”

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The interview has been edited and condensed. Nouriel Roubini is a New York-based economist that famously predicted the 2008 financial crisis when only a few considered there might be a threat to the existing course of events at the time. A Harvard alumnus and now a professor at NYU Stern School of Business, Mr. Roubini has always been critical of the crypto and blockchain industry. Oct.11, 2018 he testified at the Congressional hearing on Capitol Hill, Washington D.C., warning U.S. senators about “the mother or father of all scams and…

Bitcoin Markets Comprise Imminent Alternative to Foreign Exchange

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A report authored by researchers from the Henryk Niewodniczanski Institute of Nuclear Physics has found that Bitcoin is maturing. The report, courtesy of the Polish Academy of Sciences in Krakow, concludes that Bitcoin carries “concrete potential of imminently becoming a regular market” and “an alternative to the foreign exchange.” Also Read: Research: Corporations Fail to Deliver on Blockchain Hype, Scalability a Top Concern Polish Researchers Seek to Assess Maturity of Bitcoin Markets The study, which is “Based on 1-min price changes recorded since year 2012,” assesses “the fluctuation properties of the…

Crypto Market Keeps Its Balance After Recent Sell-Off, Bitcoin Above $6,300

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Sunday, October 14: crypto markets keep their balance after the recent sell-off this week, with most of the 20 top coins by market cap slightly in the green. Fluctuations on the markets in both directions have for the most part been no more than 1 percent, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) has seen slight growth over the past 24 hours, having strengthened to above the $6,300 threshold. At press time, the major cryptocurrency is trading at $6,331, slightly down from its intraday high around…

Ran Neuner Thinks BTC’s Price Will ‘Explode,’ While Research Predicts Market Will ‘Implode’

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Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week CNBC’s Ran Neuner Claims Bitcoin’s Price Is Set To “Explode” Ran Neuner, crypto analyst and host of CNBC’s show Cryptotrader, said this week that the price of Bitcoin is “about to explode.” In a series of tweets, the trader predicted that a notable…

Why Mastercard’s Multi-Blockchain Might Be a New Step In the Patent Race

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On October 9, American financial services giant Mastercard was granted a patent for a method to partition a blockchain so that it can store multiple transaction types and formats. The filing published by the U.S. Patent and Trademark Office (USPTO) reveals the details of the new system — not the first of the kind for Mastercard. Why would you need to partition a blockchain? Simply put, different blockchains store their transactions in different blocks — say, Bitcoin (BTC) uses one kind of system to record data on its blockchain, while…

Why Mastercard’s Multi-Blockchain Might Be a New Step In the Patent Race

boss

On October 9, American financial services giant Mastercard was granted a patent for a method to partition a blockchain so that it can store multiple transaction types and formats. The filing published by the U.S. Patent and Trademark Office (USPTO) reveals the details of the new system — not the first of the kind for Mastercard. Why would you need to partition a blockchain? Simply put, different blockchains store their transactions in different blocks — say, Bitcoin (BTC) uses one kind of system to record data on its blockchain, while…

Bitcoin Cash Developers Are Building Tools for Better BCH Fungibility

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On Oct. 12 the Bitcoin Cash developer Chris Troutner published a new shuffling protocol concept called Tokenshuffle, a platform that aims to anonymize BCH transactions. Meanwhile, the Cashshuffle project has recently outlined the platform’s roadmap and accomplishments so far. Over the past few months the focus on bitcoin cash fungibility and tools that make blockchain obfuscation possible has become a popular trend among BCH proponents. Also read: BCH Devcon Streamlines Bitcoin Innovation in San Francisco The Tokenshuffle Idea Chris Troutner Privacy is a pretty big deal to cryptocurrency proponents and it…

China Threatens Overseas Tax Havens, Will Investors Flock to Crypto

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Since early 2018, the government of China has tightened policies targeting millionaire investors in the country holding their wealth overseas to avoid large taxes, and it may lead local investors to alternative assets like crypto. Chinese investors rely on the Swiss offshore banking industry, Hong Kong real estate market, and foreign stock markets to hoard millions of dollars worth of properties, assets, and cash outside of mainland China. But, local financial authorities have started to crackdown on investors that amass significant wealth in overseas markets. Will Investors Move to Crypto?…

Bear Market Sees Bitcoin Volume Approaching Yearly Low Once Again

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Earlier today, on October 14, the price of Bitcoin experienced an abrupt increase from $6,300 to $6,410 within minutes. The unexpected rise in the Bitcoin price led traders to be optimistic about the short-term trend of the crypto market, as analysts previously stated that for the dominant cryptocurrency to demonstrate signs of recovery, it will need to first rebound to the range of $6,350 to $6,400. However, in the past 12 hours, the price of Bitcoin fell back to $6,300, falling below the $6,300 mark to around $6,220. Tether-Enabled Exchanges…