Day: February 11, 2019

Bitcoin Needs To Reach At Least $7,000 to Save the Mining Industry: Analyst

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The economics of Bitcoin (BTC) is a touchy subject. Case in point, debates regarding the subject matter are the catalyst for some of the project’s leading forks. And while discourse regarding the subject has dissipated, especially as Craig Wright and Roger Ver have gone on their merry way, the long-term sustainability of Bitcoin’s consensus mechanism has recently come under fire. Filb Filb, a leading crypto asset researcher, looked to bring rational thought and numbers to a facet of this non-parley on Sunday, releasing a Twitter thread on mining fees and…

Bank of Spain Warns Citizens Against Crypto Given Lack of Local Regulations

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Spain’s central bank has issued a reminder to citizens warning of the risks involved in transacting unregulated cryptocurrencies. The Bank of Spain’s notice, issued Feb. 10, followed an official blog post published two days earlier, which had outlined the institution’s stance on cryptocurrencies, their characteristics, and their legal status in Spain and the wider European Union. Both documents underscore the fact that Spain has not yet passed any legislation in regard to cryptocurrency, and that crypto exchange platforms and other companies in the sector are thus neither supervised not authorized…

Rio Carnival to Feature Bitcoin This Year

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Imperatriz Leopoldinense, a prominent Brazilian samba school, has chosen money as the theme of its performance during the 2019 Carnaval do Rio de Janeiro, which will be held in the week of March 2 – 9. Its dancers will tell the history of money, from the first metal coins and paper bills to modern day cryptocurrencies. Also read: Localbitcoins to Introduce New User Verification Rules Samba School Chooses Money as the Theme of Its Show The samba school is betting on Bitcoin to impress the spectators at Marquês de Sapucaí…

Major Philippines Bank Union Bank Launches Two-Way Crypto ATM: Report

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Major Philippines bank Union Bank is launching the country’s first two-way cryptocurrency ATM, local media outlet Philstar reported Feb. 6. The move will reportedly let customers buy and sell cryptocurrencies for cash via the ATM as part of the bank’s “sandbox” — a framework for conducting experiments in a controlled environment. The report did not specify which digital currencies will be supported in the experiment. According to Philstar, the system complies with current regulations and is the result of a collaboration between Union Bank and the country’s central bank, Bangko…

Fight or Flight? How Laws and a Lack of Trust Affect Bitcoin Trading

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Fight or Flight? How Laws and a Lack of Trust Affect Bitcoin Trading February 11, 2019 by Paul de Havilland Legal clampdowns are proving effective at preventing the use of crypto. But what appears to be a key driver of the peer-to-peer, decentralized use of bitcoin is a lack of trust in fiat currencies. A comparison between bitcoin trading, in localbitcoins.com volume, shows that the lack of trust in fiat drives crypto adoption, whereas laws against it drive people away… usually. Also read: A Scrum, The Lightning Network, and the Return…

Crypto Pioneer Mark Jeffrey is Sure that Bitcoin will Reach $250k, and Here’s Why

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Photo: Mark Jeffrey / Facebook Jeffrey remarked that cryptocurrencies are much like the early Dotcom industry, echoing remarks made by a number of analysts, such as Meltem Demirors. Yet, he noted that this budding space is compressed time-wise in comparison to Dotcom, explaining that development in this space is four to five times faster than Internet-enabled digital technologies. Thus, crashes and rallies are only accentuated and amplified. He said: “This is very much like the dotcom boom and bust cycle that we saw in the late 1990s, early 2000s. We’ve…

Crypto Pioneer Mark Jeffrey is Sure that Bitcoin will Reach $250k, and Here’s Why

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Photo: Mark Jeffrey / Facebook Jeffrey remarked that cryptocurrencies are much like the early Dotcom industry, echoing remarks made by a number of analysts, such as Meltem Demirors. Yet, he noted that this budding space is compressed time-wise in comparison to Dotcom, explaining that development in this space is four to five times faster than Internet-enabled digital technologies. Thus, crashes and rallies are only accentuated and amplified. He said: “This is very much like the dotcom boom and bust cycle that we saw in the late 1990s, early 2000s. We’ve…

Binance Coin Surged 75% in 1 Month While Crypto Market Stagnated, What’s Behind its Rally?

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Since January 14, the price of Binance Coin (BNB) has increased from $5.54 to $9.7, by more than 75 percent against the U.S. dollar. In the same time frame, the valuation of the crypto market dropped slightly by $3 billion from $124 billion to $121 billion. BNB has outperformed the rest of the crypto market by a substantial margin and has become a top 10 cryptocurrency for the first time in its history after recording a 6 percent gain on the day. The valulation of the Crypto Market is Down…

New Platform Enables Trades Across 200 Tools and Runs Educational Crypto Show

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A cross-market platform called LH-Crypto says its service gives traders the opportunity to transact across a plethora of cryptocurrencies and 200 other financial instruments — including forex on fiat currencies, precious metals, shares and commodities. Its beta version also enables users to participate in margin trading — a feature that it says helps distinguish its ecosystem from crypto exchanges. Not without risks, margin trading via LH-Crypto means members can make deals using sums 100 times larger than their account balance. Traders can receive funds in cryptocurrencies or fiat — and if they…

FDA Commissioner Suggests Using Blockchain for New Supply Chain Open Pilot

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The Commissioner of the United States Food and Drug Administration (FDA) has suggested the use of blockchain for an open pilot scheme for the pharmaceuticals industry. The pilot focuses on improving supply chains and was announced in a notice published Feb. 8. The Pilot Project Program Under the Drug Supply Chain Security Act (DSCSA Pilot Project Program), which aims to ingratiate industry players with emerging innovative technologies, will accept applications through March 11. The move is an initial step in the development of a digital supply chain platform specifically geared…