Day: December 27, 2018

National Bank of Kuwait Launches Ripple-Based Cross-Border Payments Product

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The National Bank of Kuwait (NBK) has launched a cross-border remittance product based on RippleNet’s blockchain technology, according to an announcement published Dec. 27. Established in 1952, the NBK is the largest financial institution in terms of assets in Kuwait. Per the bank’s 2017 annual report, the NBK has over $86.3 billion in total assets. The NBK has reportedly become the first financial establishment in Kuwait to implement a remittance product — “NBK Direct Remit” — for international live payments based on RippleNet’s blockchain technology. The product will purportedly speed…

Bitcoin-Supporting Payments Firm Square Named Yahoo Finance’s Company of the Year

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United States-based Bitcoin (BTC)-supporting payments firm Square has been named Yahoo Finance company of the year, according to a report from the media outlet Dec. 18. As Yahoo Finance reports, $26 billion market cap payments company — founded by Jack Dorsey and Jim McKelvey in 2009 — has reportedly seen its stock go up 72 percent through Dec. 14; its shares were up 170 percent through the end of September, before the wider market downturn. As previously reported, Square first announced in November 2017 that it would release a BTC…

Vitalik Buterin: Fan of Bitcoin’s Innovative Tech but Not of its Energy Consumption

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During an interview for a podcast from Blockchain Insider – Vitalik Buterin, very respected and well known creator of Ethereum [ETH – third largest cryptocurrency by market capitalization], added his comments on the functionality and future of Bitcoin and Ethereum. Mr. Buterin praises the leading network’s innovative technology but highlights it having weak-points if set toe-to-toe with PoS. This comes, according to him, due to the level of energy consumption that the network requires to clear transactions as requested. “These two mechanisms are kind of similar because they both use economic…

Vitalik Buterin: Fan of Bitcoin’s Innovative Tech but Not of its Energy Consumption

boss

During an interview for a podcast from Blockchain Insider – Vitalik Buterin, very respected and well known creator of Ethereum [ETH – third largest cryptocurrency by market capitalization], added his comments on the functionality and future of Bitcoin and Ethereum. Mr. Buterin praises the leading network’s innovative technology but highlights it having weak-points if set toe-to-toe with PoS. This comes, according to him, due to the level of energy consumption that the network requires to clear transactions as requested. “These two mechanisms are kind of similar because they both use economic…

If Bitcoin (BTC) Falls Under $3,200, HODLers Should GTFO: Bearish Trader

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Former Bitcoin Short Seller Paints Bearish Picture Recently, Mark Dow, a preeminent hedge fund manager and skilled chartist, took to Twitter on Tuesday to make an unexpected declaration. In a tweet seemingly poking fun at crypto’s zealous bulls, Dow wrote that he would be saying goodbye to his Bitcoin (BTC) short, which he purportedly opened during the asset’s peak in late-2017. In a phone interview with Bloomberg, the ostensible Bitcoin bear made it clear that his tweet wasn’t made in jest, adding that he was “done” with the position. Speaking to the outlet, Dow…

Hundreds of Crypto Projects Show Signs of Plagiarism, Fraud and Improbable Returns

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Recent research by the Wall Street Journal published Dec. 27 revealed that hundreds of cryptocurrency offerings showed signs of fraudulent activity, improbable returns and plagiarism. In the course of its research, the WSJ downloaded “white papers” of 3,291 cryptocurrency projects that announced an initial coin offering (ICO) from three websites — ICOBench.com, Tokendata.io and ICORating.com. A white paper is an informational document issued by a company that describes the company’s position, team biography, and technical specifics of a project, and is designed to be used as a marketing tool for…

Dutch Crypto Firm Libereum Acquires Spanish Soccer Club Elche CF

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Dutch crypto firm Libereum has acquired Spanish soccer club Elche CF for $4.9 million, according to a press release published to the Libereum website Dec. 26. The acquisition marks the first step in the crypto company’s ambitions to purchase a set of international soccer clubs and make its ERC20 token, Liber, a mandatory form of payment in the stadiums of those clubs it owns. Libereum states it secured its purchase of the Segunda División (second division) A club with a bank guarantee of €4.3 million (about $4.9 million) as an…

Many Self-Proclaimed Bitcoin Inventors and Satoshi Clues Were Debunked in 2018

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News It’s been almost a decade since the inception of Bitcoin, a technology created by the infamous and anonymous Satoshi Nakamoto. Over the years, many people have been hunting for Bitcoin’s inventor and Satoshi sightings have increased a great deal since 2016. During the course of 2018 there were numerous so-called Satoshi sightings and a couple of individuals who claimed to be the mysterious creator himself. Also Read: New Information Heightens Satoshi Nakamoto Mystery Satoshis Everywhere 2018 was a crazy year for cryptocurrency enthusiasts and a prolific one for all the loons…

Silver Miller Files Lawsuit Against Creator of Alleged Crypto Ponzi Scheme

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  United States crypto-focused law firm Silver Miller has filed a lawsuit against a purported crypto hedge fund manager who was allegedly operating a fraudulent Ponzi scheme. The court documents were published to the Silver Miller website Dec. 26. The case — which has been filed at the Court of the Southern District of New York on behalf of multiple plaintiffs who invested in the scheme — alleges that Jeremy Spence, alongside a small cohort of accomplices, orchestrated a fake entity called “Coin Signals.” Spence is alleged to have deceptively…

Gold Searches Spike as Bitcoin Price, Stock Market Weaken

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Given that the next generation of investors will come of age having been immersed in the digital world from infancy, many crypto advocates believe that bitcoin or another cryptocurrency asset could one day function as “digital gold,” providing people with an easy-to-access hedge against market uncertainty and central banking malfeasance. Gold Sees Resurgence as Crypto, Stocks Falter But though bitcoin — this year’s crash notwithstanding — ranks as one of the top performing assets of the past several years, it remains firmly in the price discovery phase and consequently serves…