Day: April 2, 2019

No, Bitcoin Didn’t Surge Because of a Stupid April Fool’s Joke

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The 23 percent rally that sent the bitcoin price to its four-month high did not start with an April Fools’ Day joke. It is wise for analysts and financial professionals to look for clues behind any unnatural price action. It took bitcoin only one hour to break a plethora of strong resistance levels and claim $5,023 as its session high. Many analysts on Twitter showed their lack of awareness about the price movement. Some looked for answers in technical patterns, while others merely refuted bitcoin’s upside move as April Fools’…

‘Augur Scam’ Sparks Centralized Vs. Decentralized Debate on Reddit

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According to a Reddit thread on March 19, traders on Augur, a decentralized oracle and peer-to-peer protocol for prediction markets, are being scammed. The Reddit user claims that “some people” in the Augur community are exploiting a design element of the Augur protocol by purposefully creating invalid markets through ambiguous wording. This allows them to profit by gaming the system, rendering Augur “unusable.” Augur’s co-founder, Joseph Krug, took to Twitter to explain that, admittedly there is a problem, but downplayed the extent of its effect on the network. “Some people,”…

Pakistan’s Central Bank Aims to Issue Its Own Digital Currency by 2025

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Jameel Ahmad, the deputy governor of the State Bank of Pakistan (SBP), the nation’s central bank, declared that the institution aims to issue a digital currency by 2025, Pakistani YouTube news channel Public News reported on April 1. English-language local media Dawn also reported today that Asad Umar, Pakistan’s finance minister, prompted the official’s statement during a ceremony celebrating the launch of Electronic Money Institutions (EMIs) on Monday, April 1. According to Dawn, the minister asked the federal investigation agency and the central bank to ensure that the new system…

PayPal Invests in Digital Identity-Focused Blockchain Startup in Apparent First

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In an apparent first, global online payments firm PayPal has made an investment in a blockchain startup — one that focuses on leveraging the technology to give users more control over their digital identities. The news was reported by Forbes on April 2. The investment comes as part of an extension to a Series A funding round in the startup — called Cambridge Blockchain — that first raised a total of $7 million in May 2018. While neither PayPal nor Cambridge Blockchain have disclosed the size of the payments giant’s…

Bitcoin Price Pounds Toward 5-Month High

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The bitcoin price finally broke above an extended resistance channel to establish a new yearly high above the psychologically-significant $5,000 mark. Coinbase data shows that BTC/USD spiked during the early Asian trading session, surging almost 23 percent in just two hours to $5,120. The rally accompanied substantial volume, confirming a positive breakout scenario for the cryptocurrency. It also negated some portion of the losses caused by the notorious bitcoin cash hard fork, which prompted the previous crash in November last year. BITCOIN PRICE JUMPS UP TO 23-PERCENT | SOURCE: COINMARKETCAP.COM…

Puerto Rico Sees New Crypto Bank Accept First Client Deposit

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Puerto Rico-based cryptocurrency trading platform San Juan Mercantile Exchange (SJMX) has launched banking operations via a new subsidiary, the company announced in a press release on April 2. SJMX, which exists as a membership-based exchange for digital asset traders, is seeking to expand the scope of its operations for institutional investors. The new venture, dubbed San Juan Mercantile Bank & Trust International (SJMBT), received a banking license from Puerto Rican regulators last month. With the receipt of its first deposit, the bank is now officially open for business, offering institutional…

Does Ripple Control XRP? ‘Absolutely Not’, Insists Ripple CTO

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One of the issues casting a shadow on the XRP cryptocurrency is just how decentralized it is. After all, Ripple owns the lion’s share of XRP’s supply and relies on the cryptocurrency to power its cross-border payment products. Ripple CTO David Schwartz, however, insists that the blockchain startup is not pulling the strings on the cryptocurrency. Schwartz participated in a Quora session, saying in response to a question on whether XRP is controlled by Ripple: “Absolutely not. The XRP Ledger is open source technology with a robust community of developers,…

Does Ripple Control XRP? ‘Absolutely Not’, Insists Ripple CTO

boss

One of the issues casting a shadow on the XRP cryptocurrency is just how decentralized it is. After all, Ripple owns the lion’s share of XRP’s supply and relies on the cryptocurrency to power its cross-border payment products. Ripple CTO David Schwartz, however, insists that the blockchain startup is not pulling the strings on the cryptocurrency. Schwartz participated in a Quora session, saying in response to a question on whether XRP is controlled by Ripple: “Absolutely not. The XRP Ledger is open source technology with a robust community of developers,…

Bitcoin Buy Volume Reaches Record High on Binance, Intense Demand

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The Bitcoin trading volume on Binance established a historic high as the asset price jumped more than 15-percent within an hour. The global cryptocurrency exchange posted its best four-hour timeframe volume statistics this Tuesday, reporting as high as 49,103 buy orders alongside 5,655 sell orders. The latest upside wave broke the record of the October 15 trading session, in which the buy volume had touched 40,315 and sell order was mere 5,331. $BTC buy volume at an all time high on Binance. pic.twitter.com/inxCpaEM7J — Galaxy (@galaxyBTC) April 2, 2019 The…

Bitcoin Cash Markets and Network Gather Strong Momentum in Q1

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The first quarter of 2019 has ended and things are starting to look much better for digital assets this year. Bitcoin cash (BCH) prices touched all-time highs for 2019 during the end of Q1 and the network’s overall strength has improved a great deal since the fork last year. Also read: Broken Phone? Don’t Sweat It — Restore a Bitcoin Wallet in Minutes Bitcoin Cash Action Q1 2019 Q1 is finished and the BCH chain and market value have both improved over the last three months. For instance, the price…