Day: December 11, 2018

Bitcoin’s Future Value More Likely to Be $100 Than $100K

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The former chief economist of the International Monetary Fund (IMF) has characterized Bitcoin (BTC) as “a lottery ticket,” in an article for major United Kingdom daily broadsheet The Guardian Dec. 10. Writing in the midst of the recent crypto market price collapse, current Harvard University Professor of Economics and Public Policy Kenneth Rogoff suggested that the “overwhelming sentiment” among crypto advocates is that the total “market capitalisation of cryptocurrencies could explode over the next five years, rising to $5-10 [trillion].” The historic volatility of the emerging asset class, he conceded,…

Walt Disney Company Cuts Deal with Blockchain-fueled PlayGame.com to Bring Games to Southeast Asian Fans

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About Richard Kastelein Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startupsand has written over 1500 articles on Blockchain technology andstartups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat Ad honorem – Honorary Ph.d –…

Crypto Assets on Gibraltar Blockchain Exchange Can Now Be Insured

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The Gibraltar Blockchain Exchange (GBX), a subsidiary of the island’s stock exchange, is now providing insurance coverage for crypto assets listed on its platform. The firm announced Monday that it has partnered with a local provider called Callaghan Insurance to provide the policy to cover both hot (online) and cold (offline) wallets listed on the GBX Digital Asset Exchange. “This represents an important step in attracting users who require strict assurances around the security of their assets,” said GBX CEO Nick Cowan. The news follows last month’s news that GBX…

Galaxy Digital and Block.One Lead $30 Million Funding Round for US Disruptor Bank

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Cryptocurrency-focused merchant bank Galaxy Digital and Block.One have led a $30 million Series A investment round in U.S. neo-banking platform Good Money. The news was confirmed by a press release Dec. 10. Aiming to balance user ownership with part donation of profits and equity, Good Money provides banking services and a handful of associated financial instruments to U.S. account holders. The investment came mostly via Galaxy and Block.One’s joint Galaxy EOS VC fund, one of several funds under the Block.One umbrella. “Modern banking is a primary driver of so many…

Bitcoin Still Dominates the Crypto Market, the Share to Hit Three-Month High

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Despite falling more than 40% over the past month, Bitcoin’s share of the overall cryptocurrency market has risen to 55.1%. This showcases the extent of the price collapse in alternative coins like Ethereum, EOS and Bitcoin cash, among others. The dominance rate is a metric used to measure the percent market share of a particular asset in the cryptocurrency market. What the development suggests is that traders may be shifting funds from alternative cryptocurrencies into the world’s largest coin by market capitalization – or at the very least, demand for…

Bitcoin Oversold on Weekly Price Chart for First Time in Four Years

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A key long-term bitcoin (BTC) price indicator is reporting oversold conditions for the first time in almost four years. The widely followed 14-week relative strength index (RSI), which oscillates between zero to 100, is currently seen at 29.80 – a level last seen in January 2015. An asset or a cryptocurrency is considered to be oversold if the RSI is holding below 30.00. On the other hand, an above-70 reading indicates overbought conditions. Essentially, the under-30 reading on the 14-week RSI indicates that the recent heavy selling from the highs…

Not Everyone Wants a Bitcoin ETF

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While many traders eagerly await a potential bitcoin exchange-traded fund (ETF), some of the cryptocurrency’s most passionate advocates are lukewarm at best about the prospect of such an instrument. Twitter is flush with users like crypto entrepreneur Jonathan Hamel posting about how an ETF would bring an “epic” inflow of institutional capital to the ecosystem – that is, “billions” of dollars in new investments. But if you talk to early adopters and veteran technologists in the bitcoin community, you’ll hear resounding indifference, if not queasiness. “I don’t think an ETF…

PayPal Delves Into Private Crypto With Internal Token Platform

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With crypto markets falling ever lower many are making an exit from the space. Not all are that quick to jump ship however, and PayPal is among those looking towards cryptocurrencies, albeit private ones, starting with an incentive platform for its employees. PayPal Tokens For Coffee With The Boss The company has launched an internal private blockchain based platform for its staff to trade and exchange tokens while contributing ideas and participating in related programs designed to foster innovation. According to Cheddar the initiative has been built by around 25…

How Stablecoins Are Ruining the Trustlessness of Crypto

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How Stablecoins Are Ruining the Trustlessness of Crypto December 11, 2018 by Bitsonline Guest Contributor November 2018 may well go down as one of the worst crypto trading months of the year, as bitcoin hit an annual low. But it’s not bad news across the board. Stablecoins, for example, have begun to sprout new varieties and grow in prominence. But is that good for the cryptoeconomy? Also see: Thai Lending Platform JFin Coin Partners with R3 and Microsoft Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts This…

Bitcoin Increases 15% Adding $20 Billion to Cryptocurrency Market

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Photo: PEXELS Bitcoin trading peaked at $4,341.44. It was a sudden turnaround from the week of Thanksgiving, especially when considering that at one point is dropped 80% from its highest peak. The recovery was a welcome relief to investors who have seen it drop by as much as 30% over the last 7 days. The increase further fueled other cryptocurrencies by double digits and that saw trading exceed $20 billion a day, based on reports by CoinMarketCap.com. The market increase also saw substantial gains for XRP, which jumped 12% and…