July 2, 2019

City of Dublin Ohio Plans to Launch Bitcoin Cash-Based SLP Token

July 2, 2019 boss

On July 1, Joshua Green, CEO of the Bitcoin Cash (BCH) implementation Bitcoin Verde, told the BCH community that the local government from Dublin, Ohio plans to mint a token using the Simple Ledger Protocol (SLP). The unnamed SLP token will be used for city events, redeemed for city-branded swag, discounts, and can be given to volunteers who help Dublin prosper. Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque Dublin Ohio Plans to Launch a Token Using the Simple Ledger Protocol on Top of Bitcoin…

$515 Million in Bitcoin Spent on Illicit Activity This Year Representing 1% of Total BTC Activity

July 2, 2019 boss

Recent research by Chainanalysis suggests that the amount of bitcoin (BTC) spent on illegal transactions this year could hit a record high of $1 billion, even as the ratio of illegal to legal transactions is shrinking, according to a report by Bloomberg on July 1. As per the report, the total flat value of BTC spent on illegal activity so far this year is thought to be $515 million. The research suggests that by the end of the year, this figure will double to reach $1 billion. However, the amount…

Dr. Doom Bashes Bitcoin as Monumental “Tangle in Taipei” Debate Nears

July 2, 2019 boss

Bitcoin Critic Sharpens Axe Ahead of Debate As of the time of writing this, a monumental event in the history of Bitcoin (BTC) is about to take place. Dubbed “The Tangle in Taipei”, a debate slated to take place at 9:00 am on July 3rd at the Asia Blockchain Summit, Arthur Hayes of BitMEX will face off against Nouriel “Dr. Doom” Roubini. The former is expected to convince the career market cynic, the latter, that Bitcoin has value and has staying power in today’s ever-changing financial climate. Roubini, however, seems…

Dr. Doom Bashes Bitcoin as Monumental “Tangle in Taipei” Debate Nears

July 2, 2019 boss

Advocacy Groups Call on Congress to Stop Libra Development Until July Hearings Take Place

July 2, 2019 boss

Over 30 advocacy groups have appeared as signatories on a request that Congress and regulators implement an official moratorium on Libra development, as per the letter published on July 2. The letter was also addressed to Facebook, with Mark Zuckerberg himself cc’d, and asked that the social media giant wait until Congress and regulators have scrutinized a detailed presentation of the proposed stablecoin-esque virtual currency. The letter includes a number of questions that the signatories say need answers before Libra can proceed, including the following: “The plan for Libra makes…

CNBC Trader Acknowledges Bitcoin (BTC) as Uncorrelated Hedge, Joins Bloomberg Economist

July 2, 2019 boss

Bitcoin Continues to Gain Traction as Safe Haven Throughout its short history, Bitcoin (BTC) has been seen as anything but centralized, sovereign, and censorable. The crypto asset was created by a pseudonymous individual, is secured by a global group of miners, and is backed by no government, traditional finance system, or common entity. And as a result, many have looked to Bitcoin and its brethren — other digital assets — as a much-needed escape hatch from fiat and government overreach. Simply look to the fact that it was released in the wake of the…

First Successful Blockchain-tracked Shipment from South Korea to the Netherlands

July 2, 2019 boss

Samsung SDS, Dutch bank ABN AMRO and the Port of Rotterdam have jointly conducted a proof-of-concept (PoC) shipment from South Korea to the Netherlands in which they tracked a container exclusively using an interoperable blockchain platform, according to a report by The Maritime Executive on July 1. According to the announcement, the container was tracked via the blockchain platform “DELIVER,” which allowed for the shipment to be instantly financed, fully tracked, and conducted paperlessly. According to Port of Rotterdam CFO Paul Smits, the traditional process of shipping is usually paper-heavy…

Bitcoin and Black Market Fiat: Hyperinflation Crushes Venezuela as Global Devaluation Ramps Up

July 2, 2019 boss

Venezuela is being crushed by staggering hyperinflation as a sharply divisive political crisis has the economy in ruins. Some are seeking refuge in alternatives to the national currency, like foreign fiat and crypto. The situation also calls into question the long-term trajectories of other, less volatile economies. National banks globally have been consistently struggling to balance fiat value against interest rate policy now for decades. Also read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque Soaring Inflation in Venezuela Hyperinflation in Venezuela has been projected by the…

Facebook’s Stablecoin Libra Unlikely to Become Mainstream

July 2, 2019 boss

Financial services firm Jefferies’ recent survey indicates that American users will hardly use Facebook’s forthcoming stablecoin Libra due to a lack of trust, The Block reported on July 1 In the survey, which included over 600 respondents, four in five people reportedly chose “Unlikely” or “Very unlikely” when asked whether they would purchase Libra. 45% of the respondents explained their unwillingness to buy the coin as due to a lack of trust in Facebook, unless the company has no access to their transaction data. Nearly 40% of those surveyed reportedly…

Bitcoin Reigns Supreme on the Dark Side of the Internet, Report Claims

July 2, 2019 boss

Citing research by crypto security firm Chainalysis, Bloomberg reported on July 2, 2019, that the use of bitcoin (BTC) for dark web transactions could exceed $1 billion figure for the year 2019. $515 Million Worth of BTC Already Spent Cryptocurrencies and the dark web share a long and significant past. The use of digital currencies, especially those designed with a focus on privacy like Monero (XMR) and Zcash (ZEC) is quite prevalent in the underbelly of the Internet. Now, a report by blockchain security firm Chainalysis posits that the use…