Day: February 16, 2019

China Crypto Mining Kingpin Issues Crazy Prediction: Bitcoin (BTC) To Hit $740,000

boss

$740,000 Bitcoin? Over the years, a number of zealots for the crypto ecosystem have made ambitious price predictions. Presidential candidate hopeful John McAfee, who founded the cybersecurity company that shares his surname, once told CoinTelegraph among other outlets that $1,000,000 for each Bitcoin (BTC) is just a “conservative bet.” He attributed his call to the potential the U.S. dollar has to collapse, along with the growth of the crypto ecosystem. On the (somewhat) lower end, we’ve had people like Tim Draper remark that $250,000 isn’t out of the realm of…

Bitcoin Is Still 50 Percent Undervalued

boss

This interview has been edited and condensed. The author of the “The Bitcoin Big Bang — How Alternative Currencies Are About to Change the World,” Brian Kelly calls himself an optimist when it comes to the future of the cryptocurrencies. CNBC’s prominent commentator, who is also the founder and CEO of digital currency investment firm BKCM LLC, analyzes markets on an everyday basis and tends to be 50 percent right “trading-wise.” We met with Brian Kelly at the Crypto Finance Conference in Switzerland and talked about Bitcoin ETFs, the next…

How the Marshall Islands Envisions Its National Digital Currency Dubbed ‘Sovereign’

boss

On Jan. 10, 2019, the team behind a national cryptocurrency for the Republic of the Marshall Islands (RMI) — dubbed the Sovereign (SOV) — revealed that the coin is still being actively developed, despite previous disagreements among government officials, as well as reservations expressed by the International Monetary Fund (IMF) and the United States Treasury Department on the subject. The idea behind the SOV project lies in the RMI government’s pursuance of “manifesting our [the RMI’s] national liberty,” as well as the creation of an alternative state currency to the…

CME’s Duffy: Crypto Needs to Brown-Nose Governments to Succeed

boss

Over the past year, crypto has struggled from a price standpoint. Thus, many investors that are looking to “HODL” have sought the light at the end of the tunnel that is institutional participation. But, one Wall Streeter, who has expressed some semblance of support for Bitcoin, recently claimed that this facet of the ecosystem just isn’t there yet. CME CEO “Not Sure” Bitcoin Bottom Since Bitcoin fell off the public’s radar in mid-2018, most incumbents of the legacy world have shut their trap, so to speak, regarding the subject matter.…

Major Automotive Companies Talk Blockchain Standardization

boss

Major Automotive Companies Talk Blockchain Standardization February 16, 2019 by Akshay Makadiya Car manufacturing giants like BMW, GM, and Ford came together to discuss instituting blockchain standardization measures in the automotive industry at the first European colloquium of the Mobility Open Blockchain Initiative (MOBI). If blockchain tech continues to break into the mainstream, such standardization efforts will only grow in the years ahead.  Also read: Bitcoin Block Size: Getting Fatter, But Decrease Chatter Growing We love hearing from our readers. Sound off on our Twitter or Facebook pagesCheck out our insights & interviews with influential…

Crypto Tidbits: Meet JP Morgan Coin, SEC Drops Bitcoin ETF Application

boss

After last week’s price action, the crypto market quieted down. Bitcoin entered a lull, while altcoins followed close behind. Yet, the wheels of the crypto train have continued to spin. Twitter CEO Jack Dorsey revealed that his fintech upstart would eventually integrate Bitcoin’s Lightning Network, JP Morgan launched its own digital asset on a private Ethereum-based chain, a Filipino banking giant launched crypto ATMs, and Chainalysis secured millions amid this market rut. Crypto Tidbits Reality Shares Files Semi Bitcoin ETF, SEC Requests Application Withdrawal: Reality Shares, a California-based crypto-centric investment…

Most Cryptos See Gentle Green Amid Exceedingly Calm Market Picture

boss

Saturday, Feb. 16: Cryptocurrencies are seeing mild price action, with virtually all of the top 20 coins by market cap seeing fluctuations of within 2 percent in both directions on the day, as data from Coin360 shows. Market visualization by Coin360 Top cryptocurrency Bitcoin (BTC) has seen fractional 0.37 percent growth on the day and is trading at $3,631 to press time, according to CoinMarketCap data. On its 7-day chart, the coin has jaggedly traded downward from an intraweek peak of almost $6,700 on Feb. 11 to a low of…

Regulated ETH Futures Would Result in More Robust, Liquid Market

boss

Chicago-based crypto exchange ErisX has filed a comment letter with the United States Commodity Futures Trading Commission (CFTC) in response to the agency’s request for feedback on Ethereum (ETH)’s mechanics and market. The letter, submitted on Feb. 15, sets forth the exchange’s belief that “the introduction of a regulated futures contract on Ether would have a positive impact on the growth and maturation of the market.” As reported, ErisX is a reboot of traditional futures market Eris Exchange, and is expected to begin support for spot trading in Bitcoin (BTC),…

Central Bank Digital Currencies Are a Trojan Horse for Bitcoin

boss

Central bank digital currencies (CBDCs) and Bitcoin could scarcely be more different. One is permissioned, the other permissionless; one centralized, the other decentralized; one is censorable, the other censorship-resistant. Despite their dissimilarities, CBDCs might just be the best driver yet for Bitcoin adoption. Also read: Mobile Gifting Platform Swych Announces Cryptocurrency Support CBDCs Are the Best Thing That Could Have Happened to Bitcoin When JP Morgan unveiled its eponymous stablecoin on Feb. 14, the sound of sniggering could be heard throughout the cryptosphere. Aside from the irony given CEO Jamie Dimon’s…

Digital Currency Group CEO Bullish About Bitcoin but Prophesies Doom for other Cryptocurrencies – BTCMANAGER

boss

There are currently over 2096 cryptocurrencies listed on CoinMarketCap. The founder, and CEO of DCG, however, has said he believes in Bitcoin and believes it could replace gold someday, saying he is bullish about BTC. Barry Silbert thinks a majority of those 2096 crypto assets will fail before you hear about them. Long-Term Believers The former Wall Street investor Barry Silbert, the CEO and founder of Digital Currency group and Greyscale Investment told CNBC on Wednesday, February 14, 2019, he was more bullish on Bitcoin than he had ever been.…