Day: October 28, 2018

Bitcoin on the Ethereum Blockchain? Welcome to 2019

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We all know what BTC, BCC, and ETH are. But new to the reader may be symbol WBTC – short for “wrapped Bitcoin,” which will essentially be a token on the Ethereum blockchain tied directly to the value of Bitcoin. A combined effort of Kyber Network, Republic Protocol and BitGo, the token will have two important effects on cryptocurrency. First, it will enable Bitcoin to participate in Ethereum smart contracts natively on the Ethereum blockchain. While multiple efforts to initiate smart contracts on Bitcoin’s own chain have historically been undertaken,…

Using ICOs to Maximize ROI

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Starting at the beginning of this year: the entirety of the cryptocurrency market has taken a significant hit with regards to coin value, affecting investors and prolonging the expected launch date of many public ICO token-sales. Amongst those cryptos worst hit is Ether (ETH). The second-largest by means of market capitalization lost upwards of 85% of its value YTD and trades at $207.73 at the time of writing. A massive drop in comparison to its peak of $1,400 in January 2018. The overwhelming negative volatility that has dominated the market…

if Crypto “Remains” Illegal, Adoption Will be Difficult

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At Bloomberg Ideas, an event that features leading experts in various industries, George Mason University economics professor Tyler Cowen stated that if crypto remains illegal, adoption will be difficult to achieve. “If crypto stays illegal, it will be ghettoized, and that will make it harder for it to spread ultimately.” However, in major markets including the US, Japan, South Korea, Singapore, Switzerland, and the UK, the usage and trading of cryptocurrencies are legal, with sufficient regulatory frameworks in place to protect investors in the global digital asset exchange market. Already…

The Chequered Saga of Crypto in China, 2013-2017

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Take a quick look at CnLedger, a Twitter-based Chinese crypto news information source, and a tweet pinned at the top of its profile might come as something of a surprise: Next time people tell you bitcoin is banned in China, show him this pic. pic.twitter.com/MC3Q2yzBcx — cnLedger (@cnLedger) February 8, 2018 On Sept. 30 2018, China’s oldest tech journal, the Beijing Sci-Tech Report (BSTR), announced it would be offering subscriptions payable in Bitcoin (BTC). And Ethereum Hotel, reportedly the “first” Chinese hotel to accept Ethereum (ETH) as payment, is poised…

Economic Development and Trade Ministry Launches State Policy to Legalize Crypto

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  The Economic Development and Trade Ministry of Ukraine has initiated a “state policy” for the classification and legalization of crypto-related activities, Ukrainian state information and news agency Ukrinform reported Oct. 26. The Ministry has reportedly issued an official press release stating that its purpose is to “create understandable conditions for conducting activities in the field of virtual assets and virtual currencies,” and to usher in “adoption of the concept of a state policy” for crypto. To this end, it has proposed establishing legal definitions for key terms, including “virtual…

US Debt is a Death Spiral That Cannot be Undone, Buy Crypto

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Kim Dotcom, a German-Finnish Internet entrepreneur and a renowned investor in crypto, stated that the US economy will inevitably crash in the years to come. If US markets deteriorate in the long-term, as predicted by recognized economists including Peter Schiff and Nouriel Roubini, Dotcom firmly stated that crypto will appeal to investors as a robust and stable store of value alongside precious metals such as gold. “US Empire now pays half a trillion dollars in interest payments per year to service its debt. US debt increases by a trillion per…

Has Bitcoin’s Price Become Immune to the Effect of Expiring BTC Futures Contracts?

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On the 26th of October, Ethereum World News notified its readers of the expiration of Bitcoin (BTC) Futures contracts offered by the CME Group. The BTC Futures contracts were expiring on the same day at 4pm London Time. Some traders have also put forth the idea that they usually expire at 4pm GMT. The difference between the two time zones is one hour but we can observe from this past Friday, that the price of BTC was not affected by the expiring contracts. Evidence of a Stable BTC The following…

Stocks Cleared and Settled Successfully in Bank of Canada Blockchain Trial

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An experiment conducted by Canada’s central bank in conjunction with the country’s payments system, a stock exchange operator, a distributed ledger technology (DLT) firm and a global consulting and professional services firm has demonstrated that it is possible to clear and settle securities efficiently and cost-effectively using blockchain technology. In the trial, the Bank of Canada in partnership with payments system organization Payments Canada, stock exchange operator TMX Group, global consulting firm Accenture and blockchain firm R3 demonstrated the feasibility of an integrated DLT-based securities and payment settlement platform. https://twitter.com/inside_r3/status/1054787035674877952…

Waiting For Bakkt? Bitcoin Volatility on Ice, S&P 500 Shaken, Stirred

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Waiting For Bakkt? Bitcoin Volatility on Ice, S&P 500 Shaken, Stirred October 28, 2018 by Paul de Havilland Investors appear to be waiting for Bakkt to launch its bitcoin futures exchange as bitcoin price volatility sees little movement, in stark contrast to the stock market slump. Also see: Bitcoin Averts Slaughter, Let the Clubbered Tether Burn. Burn Clubbered Tether… Burn! Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Waiting for Bakkt On October 22nd, ICE Futures US Inc. issued a press release announcing bitcoin futures trading would…

Will BTC Fail to Recovery by 2018’s End?

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Over the past 11 days, the Bitcoin price has remained stable in the range of $6,300 to $6,500, struggling to initiate a major movement on the upside. The volume of Bitcoin has declined substantially over the last 72 hours from $3.6 billion to $3.1 billion on CoinMarketCap, by nearly 20 percent. Trading activity in the cryptocurrency exchange market has generally subsided, as investors have started to avoid taking high-risk, high-return trades in a period of uncertainty. Support and Resistance Merging: Where is Bitcoin Headed to Next? Since early August, for…