Day: November 17, 2018

Central Banker in Europe’s False Arguments Against Bitcoin

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Twitter Facebook LinkedIn Benoît Cœuré, a member of the Executive Board of the European Central Bank, condemned Bitcoin (BTC), describing it a bubble, ponzi scheme, and an environmental disaster. “Lightning may strike me for saying this in the Tower of Basel — but bitcoin was an extremely clever idea. Sadly, not every clever idea is a good idea. I believe that Agustín Carstens summed its manifold problems up well when he said that bitcoin is ‘a combination of a bubble, a Ponzi scheme and an environmental disaster,’” Cœuré said, at…

ICO Performance in Q3 2018 Saw ‘Overall Disappointment,’ Study Shows

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Initial Coin Offering (ICO) performance was in part characterized by “overall disappointment” in the third quarter of 2018, according to a study from ICO analysis firm ICORating published Nov. 15. As the report states, Q3 2018 saw 597 ICOs raise over $1.8 billion, a notably lower value than the over $8.3 billion reportedly raised in the previous quarter. A similar decline in investment has been reported in traditional Venture Capital (VC) funding for blockchain projects. In the report, the decline in funding is accompanied by a median return on investment…

Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’

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Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’ November 17, 2018 by Akshay Makadiya Powerhouse chip maker Nvidia just released its third-quarter financial figures, reporting a decline in revenue amid waning demand for its graphics processing units (GPUs) from crypto miners. The downturn in crypto mining left Nvidia with unsold GPUs, negatively impacting its fiscal 2019 third-quarter revenues. Also read: Fork Wars: 66% of Bitcoin Cash Miners Now Backing Satoshi Vision Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Nvidia Shares Nosedive With Crypto Hangover The Santa Clara,…

The Daily: New Woe for ICOs, Bitcoin Cash Trading Resumes

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In Saturday’s edition of The Daily, we examine Q3’s figures for initial coin offerings, and ponder where they go from here in the wake of fresh SEC scrutiny. We also take a look at how exchanges are reacting to the Bitcoin Cash fork. Some platforms have already enabled deposits and withdrawals, while others are waiting till the dust has settled. Also read: SEC Settles Charges With Two ICO Issuers Exchanges Respond to the Bitcoin Cash Fork In the build-up to the Bitcoin Cash (BCH) hard fork on Nov. 15, cryptocurrency…

Industrial-Scale Adoption of Blockchain Likely in 1-2 Years, Says CEO of Russia’s Largest Bank

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Twitter Facebook LinkedIn Industrial-scale adoption of blockchain technology will surge in the next year or two. That’s the prediction of bitcoin advocate Herman Gref, the CEO of Sberbank — Russia’s largest bank and the third-largest bank in Europe. Gref said the hype surrounding blockchain has waned a bit, but its many uses will be applied in the near future. In other words, blockchain has moved beyond theory and is ready to be put into practice. “The hype surrounding the technology has passed, and it has entered a stage of industrial development,”…

Industrial-Scale Adoption of Blockchain Likely in 1-2 Years, Says CEO of Russia’s Largest Bank

boss

Twitter Facebook LinkedIn Industrial-scale adoption of blockchain technology will surge in the next year or two. That’s the prediction of bitcoin advocate Herman Gref, the CEO of Sberbank — Russia’s largest bank and the third-largest bank in Europe. Gref said the hype surrounding blockchain has waned a bit, but its many uses will be applied in the near future. In other words, blockchain has moved beyond theory and is ready to be put into practice. “The hype surrounding the technology has passed, and it has entered a stage of industrial development,”…

Crypto Experts Slash Bitcoin Price Predictions: Fact is, No One Knows

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The recent crash in the crypto market has led Wall Street investors to slash their Bitcoin price prediction by half. Tom Lee, the co-founder of Fundstrat Global Advisors, lowered his year-end expectations to $15,000 from $25,000. Lee’s prediction came after BTC broke below its so-called bottom at $6,000. Before the crash, the said level was considered to be a break-even point for miners. Based on that, Lee estimated that BTC price should be at least 2.2 times higher than the break-even point. Otherwise, mining Bitcoin will be worthless in a…

Festive, Free Automated Trading Bot Can Be Set Up in 10 Minutes

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A cloud trading software platform argues the public has the chance to take advantage of volatility in the cryptocurrency marketplace through automated trading – “maximizing their opportunities” and enabling their assets to appreciate. Trade Santa says its cloud software platform is designed to automate simple strategies relied upon by thousands of traders around the world. Its bot is free to use, and the company hopes to ensure capitalizing on fluctuations in cryptocurrencies doesn’t need to be a full-time job. The team behind the Santa Bot says it takes about 10…

Oxfam Formally Launches Blockchain Platform for Rice Farmers in Cambodia

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Twitter Facebook LinkedIn Oxfam has launched a blockchain project for farmers dubbed BloCRice, which seeks to increase the bargaining power of farmers by digitally connecting every player in the supply chain on one platform, local Cambodian news outlet reports. Based on the report, the new platform will leverage on smart contracts to build digital agreements between organic farmers and exporters of rice in Cambodia and their buyers in the Netherlands. Solinn Lim, country director of International charity Oxfam in Cambodia, was quoted by the news outlet saying: “BlocRice promotes the…

Russia’s Tretyakov Gallery Develops Blockchain Project

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Art It Up: Russia’s Tretyakov Gallery Develops Blockchain Project November 17, 2018 by Vladimir Litvinov The Tretyakov Gallery is launching Russia’s first major blockchain project in the arts domain. If fruitful, the meld could inspire other galleries to follow suit. Also read: Bitcoin Group SE Looks to Buy Up German Bank in Frankfurt Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Why Not Art? Dubbed “My Tretyakov,” the project allows private individuals or companies to make a donation, which in turn contributes to the digitization of the…