Day: June 8, 2019

With the Rise of IEOs, Investing in Altcoins Can Be Brilliant

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By CCN: It’s unpopular to say this in some sectors, but it can be brilliant to invest in altcoins. If you’d bought up a ton of Binance Coin when it was first offered, for example, you’d have made your investment back plus many hundreds of percent by now. This can be the same for upcoming IEOs as it was during the ICO boom. Functionally, the only difference is the backing of the exchanges themselves, which implicates them as much as it credits them. IEOs are gaining popularity among investors. |…

Bitcoin Was Never Cypherpunk, and Satoshi Nakamoto was Never Meant to Be Anonymous, Craig Wright Says

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Craig Wright is determined to make the world accept him as the creator of Bitcoin and the man behind the identity of Satoshi Nakamoto. But instead of signing the genesis block (something the community has agreed to accept as irrefutable proof of his identity) he thought it would be better to write a post removing the cypherpunk roots from its creation In an article published on his official website, Wright says he emailed Gavin Andresen in 2011 explaining that Bitcoin was never a cypherpunk thing and he did not support…

If Bitcoin Hits This Key Level, It’s Going to Make a Run for $40K: Tom Lee

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By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if it can capture enough momentum. In an interview with Binance CFO Wei Zhou, Lee laid out his bullish case. Lee and Zhou agree that once bitcoin regains the $10,000 level, it will be “fast and…

If Bitcoin Ban Bill in India Passes, Privacy Crypto Assets Could Boom: Binance CEO

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Yesterday, the Bitcoin (BTC) and crypto asset community woke up to a harrowing tidbit of news from Bloomberg Quint. An article, which cited a “draft bill”, revealed that regulators in India, from multiple financial and judiciary agencies, revealed that those who involve themselves in the “sale, purchase and issuance of all types” of crypto assets, including Bitcoin, could lead to a ten-year jail sentence and/or fine. At the same time, the Reserve Bank of India and its partners have purportedly also proposed the creation of a “Digital Rupee” to fill…

Vancouver Wants to Ban Bitcoin ATMs Due to Money-Laundering Concerns

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The Vancouver government is not very happy with the evolution of crypto in the locality, and the growing concern that digital currencies may facilitate money laundering operations has prompted the authorities to propose a ban on Bitcoin ATMs. According to the Vancouver Police Department, the lack of regulations and the growing adoption of cryptocurrencies have turned Bitcoin ATMs into an “ideal money-laundering vehicle”. This opinion has been gaining strength over the last few months. Back in February, Sergeant Alvin Shum wrote a report to the Vancouver Police Board warning about…

Bitcoin Price Dips Back Under $8K as Top Cryptos See Moderate Losses

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Saturday, June 8 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark. Market visualization courtesy of Coin360 Bitcoin is down nearly 3% on the day, trading around $7,870 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 8%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported yesterday, cryptocurrency investment products and research firm CoinShares estimates that 74.1% of bitcoin mining is powered by renewable energy in…

Crypto Tidbits: SEC Still Wary of Bitcoin ETF, Facebook Crypto Inbound, Binance to Launch Stablecoin

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Another week, another round of Crypto Tidbits. While price action wasn’t all too hot, with Bitcoin losing its strides above $8,000 to tap $7,450, the underlying industry still saw a flurry of developments. Some positive, some negative. On the positive, Apple quietly added a Bitcoin symbol to its developer kit repertoire; Facebook is nearing the launch of its digital asset, slated to be a massive on-ramp to true cryptocurrencies; and a report revealed that much of the crypto asset mining industry is backed by renewable energies. On the other side…

Weiss Crypto Ratings Downgrades EOS Due to Centralization Concerns

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United States-based financial research firm Weiss Ratings announced that it has downgraded its rating of cryptocurrency EOS because of the blockchain’s “serious problems” with centralization. Weiss announced the report in a tweet published on June 7. In the tweet, Weiss Ratings claims that the cryptocurrency in question has severe centralization issues and that “their event last week did anything to alleviate that,” evidently referring to an event hosted by EOS developer, Block.one on June 1. Weiss decided to lower EOS’ technology score, given the development. The tweet also hinted that…

Crypto Analytics Firm Coin Metrics Acquires Bletchley Indexes

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Cryptocurrency analytics company Coin Metrics announced that it has acquired digital asset index firm Bletchley Indexes and plans to launch crypto smart beta indexes. The announcement was made in a blog post published on June 7. Per the announcement, the acquired company will be rebranded to Coin Metrics Bletchley Indexes (CMBI). The newly acquired firm — following the relaunch — “will leverage Coin Metrics’ on-chain and market data expertise to expand the family of indexes to include such smart beta indexes based on key network metrics.” Furthermore, all of Bletchley’s…

Is It A Case Of Murphy’s Law For BTC Supporters?

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Bitcoin drop 7.4 percent Reserve Bank of India could get a boost with the latest draft bill proposing more stringent measures against crypto investors and developers. Yesterday’s FUD that India’s legislators are proposing a ban of cryptocurrency mining, trading or holding did expose RBI’s underbelly. Such punitive steps often trigger rebellion in a Streisand effect, popularizing Bitcoin and cryptocurrencies. All in all, BTC is down 7.4 percent from last week’s close. Bitcoin Price Analysis Fundamentals The prospect of another “private currency” surpassing government issued fiat is a nightmare for central…