Day: February 18, 2019

Bullish Sentiment for Bitcoin As Long Bets Near 11-Month Highs

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Bullish bets on bitcoin, the world’s largest cryptocurrency by value, reached 11-month highs on Monday, according to the data from the cryptocurrency exchange Bitfinex. The number of long positions on bitcoin’s US dollar-denominated exchange rate (BTC/USD) jumped to 38,237 BTC at 04:10 BTC – the highest level since March 30, 2018 – and were last seen at 36,176 BTC. While long positions have risen by 35 percent in the last three weeks, short positions have remained largely unchanged. As a result, the long-short ratio, a barometer of market sentiment, has…

Bitmain Announces New 7nm Bitcoin Mining Chip With 29% More Efficiency

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On Feb. 18, mining rig manufacturing giant Bitmain Technologies announced its next-generation 7nm ASIC chip for mining SHA-256 cryptocurrencies like BTC and BCH. According to Bitmain, the mining chip, called the BM1397, is more efficient when mining proof of work (PoW) coins and the new chips will be installed in the latest Antminer series of devices. Also Read: Orca Pool Mining Operation Aims to Defend Altcoins and Forks From Attacks The Next Generation 7nm Chip From Bitmain Technologies Bitmain has announced a new mining chip that claims to be more effective…

Short-Term Crypto Bear Calls For ‘Melt Your Face Off” Bitcoin (BTC) Rally

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Next Bitcoin Rally Could Return 32x  While many investors have been enamored with Monday’s short-term rally, which has seen Bitcoin (BTC) run by 8% to near the ever-important $4,000 level, some analysts have kept their trading mindsets static. Financial Survivalism, a self-proclaimed “financial revolution prepper,” recently remarked that in the long-term, the flagship cryptocurrency could “melt our faces off” with a jaw-dropping rally. In a recent tweet, the seeming anti-establishment figure claimed that while the last cycle returned 16x, as BTC ran from ~$1,200 to $20,000, the next cycle could…

Short-Term Crypto Bear Calls For ‘Melt Your Face Off” Bitcoin (BTC) Rally

boss

Next Bitcoin Rally Could Return 32x  While many investors have been enamored with Monday’s short-term rally, which has seen Bitcoin (BTC) run by 8% to near the ever-important $4,000 level, some analysts have kept their trading mindsets static. Financial Survivalism, a self-proclaimed “financial revolution prepper,” recently remarked that in the long-term, the flagship cryptocurrency could “melt our faces off” with a jaw-dropping rally. In a recent tweet, the seeming anti-establishment figure claimed that while the last cycle returned 16x, as BTC ran from ~$1,200 to $20,000, the next cycle could…

Iota Foundation Partners With Incubator Nova to Fund Startups Using Blockchain

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The Iota Foundation, the company behind the cryptocurrency Iota (MIOTA), announced its partnership with startup incubator Nova through a press release shared with Cointelegraph on Feb. 18. According to the release, the partnership aims to fund new startups employing Iota’s platform through the “Iota Cofoundery” program on Nova’s website, which focuses on the early stages of startup development and seed funding. The program also grants the selected startups access to Nova’s mentoring program and tech startup team, reportedly consisting of over 20 startup consultants specialized in technology. Nova has reportedly…

German Government Consults Industry About Blockchain Technology

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The German government is consulting companies and industry groups that could become stakeholders in the country’s blockchain development, Reuters reports on Feb. 18. The unnamed companies and groups have reportedly been invited to supply recommendations from this week onwards. Reuters also cites unspecified government sources saying that it is still unclear if those recommendations will translate into regulation in the near future, but concrete results are currently being sought. According to the article, about 170 startups in Berlin are involved with blockchain or distributed ledger technology (DLT), and startups in…

In a 30-Minute Video, Victim Lays Out How He Lost $400K in Crypto on QuadrigaCX

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Since the QuadrigaCX story has crossed paths with the world’s largest business and crypto news outlets, seemingly little attention has been given to this debacle’s victims. Outlets, such as Bloomberg, CNN Business, among others, refer to the creditors as a “they,” making it tough to remember that there are crypto investors behind each lost dollar. But, the fact of the matter is that there are thousands, if not tens of thousands of victims, who are wallowing and sulking, as many lost thousands in fiat and Bitcoin holdings. Yet, some have…

Indonesia’s Commodity Futures Regulator Releases Regulation for Crypto Futures Market

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Indonesia’s commodity futures regulator has established a legal framework for operating crypto and digital assets futures markets, according to an official press release published on Feb. 18. The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti), which operates under Indonesia’s Ministry of Trade, has officially required multiple entities involved in crypto futures trading to seek regulatory approval and apply for registration before legally operating in Indonesia. The news follows the recent release of legislation that officially recognizes Bitcoin (BTC) and other digital assets as trading commodities. The Bappebti first greenlighted crypto…

CFTC Commissioner Brian Quintenz Suggests Creation of Crypto Self-Regulatory Organization

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United States Commodity and Futures Trading Commission (CFTC) commissioner Brian Quintenz has suggested that participants in the cryptocurrency industry should create a self-regulatory structure. Quintenz made his remarks during a Bipartisan Policy Center panel held on Feb. 12. More precisely, Quintenz said that because of the CFTC’s lack of crypto statutory oversight capability, he suggested that crypto “platforms come together to form some type of self-regulatory structure where they can discuss, agree to, implement, and hopefully examine or audit.” According to Quintenz, such an organization could carry out audits concerning…

Bitmain Announces Energy-Efficient ASIC Chip for Mining Bitcoin and Bitcoin Cash

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Chinese mining giant and ASIC hardware producer Bitmain has announced its next generation 7nm (nanometer) ASIC mining chip, according to a press release published on Monday, Feb. 18. The new mining hardware, BM1397, is designed for mining cryptocurrencies that use the SHA256 algorithm for their proof-of-work (PoW), such as Bitcoin (BTC) and Bitcoin Cash (BCH). BM1397 requires less power for mining cryptocurrencies, representing a 28.6 percent improvement in power efficiency in comparison with the company’s previous 7nm chip, BM1391. The new chip will be used in new Antminer models —…