Day: November 20, 2018

Hoskinson: Satoshi Did “An Amazing Thing”…But There Are Lessons to Learn

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Charles Hoskinson is best known today as a co-founder of both Ethereum and IOHK, where he leads the research, design and development of Cardano. But before these projects, there was Bitcoin. Back in 2013, he was the founding chairman of the Bitcoin Foundation’s education committee and established the Cryptocurrency Research Group. In an interview with Bitcoin Magazine during the recent StartEngine Summit, Hoskinson began by saying that he views Bitcoin as a series of experiments to try and realize two key concepts: “Can we achieve a decentralized form of value…

Just the Facts: An Unembellished Examination of Ross Ulbricht’s Arrest

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The Let’s Talk Bitcoin Network hosts several podcasts for regular discussion topics in the world of blockchain and cryptocurrency, including the popular weekly show What Bitcoin Did. As a special event, however, What Bitcoin Did has partnered with the campaign to free Ross Ulbricht to host a detailed analysis of Ulbricht’s arrest and imprisonment, Railroaded, on the LTB Network. Peter McCormack, the host of What Bitcoin Did, has worked closely with the #FreeRoss campaign in the past, having interviewed Lyn Ulbricht multiple times. For this series, however, McCormack took a…

Huobi Group Sets Up Communist Party Committee in Beijing

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As part of its desire to forge deeper ties with the Chinese government, Huobi Group, the parent company of digital asset platform Huobi, has formed a Communist Party committee in China, according to an announcement by the company. The new branch was established by a Huobi subsidiary, Beijing Lianhuo Information Service, and will reside in the Haidian District of the municipality of Beijing. Per reports on the South China Morning Post, the Beijing Lianhuo was established earlier this year, wholly owned by Huobi founder and chief executive Li Lin. Lin,…

Federal Election Commission Gives Green Light for Political Mining Pool …

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The U.S. Federal Election Commission (FEC) has given tacit permission for mining pools to donate to political campaigns. The FEC released a memo on their website on November 13, 2018, to provide background information to a formal meeting that would take place on November 15. In it, they addressed a recent request filed by OsiaNetwork LLC for the FEC’s advisory opinion. OsiaNetwork filed this request on September 10, 2018, asking for confirmation on the “permissibility of OsiaNetwork’s business plan.” With little other information publicly available about this startup, it seems…

Bitcoin Price Analysis: Another Red Day Pushes BTC Into Deeper Support Test

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Bitcoin has tumbled again today as the market continues to see further downward movement shortly after breaking two areas of market support. So far, bitcoin is down 15% on the day — 25% in 1 week: Figure 1: BTC-USD, Daily Candles, Downward Continuation This drop below support is starting to display hallmarks of market capitulation. After most of the sellers got out of the market earlier this year, bitcoin managed to consolidate sideways for about 9 months in the form of a descending triangle. Last week, after several tests of…

New Cryptocurrency-Based ETP Arrives in Switzerland

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Amun AG, a startup in Zug, Switzerland, has received a license from Swiss authorities to offer a new cryptocurrency exchange-traded product (ETP). An ETP is a blanket term to denote a security that derives its price from an underlying asset (e.g. a currency, commodity, stock) and is traded on a regulated stock exchange. It could refer to a number of exchange-traded investment options, including exchange-traded funds (ETF), exchange-traded commodities (ETC) and exchange-traded notes (ETN). Anum has referred to the instrument only as an ETP, and it’s unclear at this time…

Op Ed: It’s Time to Reject Mediocrity, #ExitFiat and Embrace Bitcoin

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When the towers in New York fell, I became obsessed with economics. I wanted to follow the money to understand what happened on that dreadful day. During that time of inquiry, I found myself very interested in Austrian economic theory. Soon enough, I realized that the reserve banking system was systemically corrupt. How can you have money based only on debt? How can central banks print debt out of nowhere and demand interest for that? It was a question that caused me to create the world’s first website where people…

US Regulator Issues Cease and Desist Order to Russian ICO Mimicking Liechtenstein Bank

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Securities Commissioner Karen Tyler of North Dakota, U.S., has issued a cease and desist order against a Russian Initial Coin Offering (ICO) that posed as Liechtenstein Union Bank, according to a Monday, Nov. 19 press release. The state Securities Department’s ICO Task Force conducted an investigation and found out that the website of the fraudulent ICO mimicked Union Bank Payment Coin (UBPC) — an existing token launched by Union Bank in Liechtenstein back in August. As per the regulator, the project’s website claimed to become the “world’s first security token…

Bitfinex Activity, Tether-BTC Price Relation Under Scrutiny from US DoJ, Sources Claim

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The U.S. Department of Justice (DoJ) has focused its investigation crypto market manipulation on whether or not Tether (USDT) was used to artificially inflate Bitcoin (BTC) prices during last year’s momentous rally, Bloomberg reports Nov. 20. Bloomberg cites three unnamed sources “familiar with the matter” who allege that the DoJ has “honed in” on the triad of Bitcoin, Tether, and its affiliated crypto exchange Bitfinex — the latter two of which share a CEO, Jan Ludovicus van der Velde. The sources have reportedly alleged that the DoJ is looking into…

Bitcoin’s Price On Pace to Post Worst Month Yet in 2018

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Bitcoin’s drop to 13-month lows has likely put the cryptocurrency on the path to post its worst monthly loss of 2018. The leading cryptocurrency is currently trading at roughly $4,700 – down roughly 26 percent from the monthly opening price of $6,320 – according to CoinDesk market data. As of now, November is the second-worst month of 2018, the first being March with a 32 percent price drop. November, however, would take the top spot if prices find acceptance below $4,200, pushing the monthly loss above 32 percent. Indeed, BTC…