Day: July 10, 2019

Youtuber With 22M Subs Features Pro-Bitcoin & -Crypto Entrepreneur

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Bitcoin Exposed to Millions Over the past few months, Bitcoin (BTC) has slowly entered back into the mainstream consciousness. Mainstream media outlets are covering this budding space once again; and consumers, mom & pop investors, and their ilk have begun to eye crypto assets after 2018’s brutal collapse. This was perfectly encapsulated in a recent episode of “Off The Pill” podcast by Ryan Higa, an American social media star that became popular on Youtube earlier this decade. Over the course of his career, he has amassed over 20 million subscribers…

Facebook Crypto Products Not Coming to World’s Biggest Markets

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Contrary to the beliefs of many crypto critics, Facebook’s Libra will not be a Bitcoin killer. In fact the new digital coin from billionaire Zuckerberg et al may not even be available to some of the world’s largest markets. India Still Hates Crypto, Libra Included The world’s largest social media company has no plans to launch its Calibra crypto wallet in India. Top government officials are still very anti-crypto in all forms, especially those created and controlled by multi-billion dollar US tech monopolies. Speaking to Bloomberg, a Facebook spokesperson effectively…

China Must Take Precautions Against Libra Trend

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The former governor of the People’s Bank of China (PBoC) says “China should take precautions” against the trend represented by Facebook’s Libra cryptocurrency. Twitter-based Chinese crypto news source CnLedger reported on Xiaochuan Zhou’s remarks on July 9. Zhou notably served as PBoC governor between 2013 and 2018, a period which saw Beijing pursue its notorious onslaught of anti-crypto regulations — including the historic blanket criminalization of initial coin offerings (ICOs) and exchange crackdown. CnLedger reports that Zhou characterized Libra as representative of the global trend in cryptocurrencies — singling out…

Regulators SEC & FINRA Explain Crypto Custodian Regulation and Approval

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The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have explained in a joint statement that there are a number of questions that need to be answered before crypto companies will be approved as broker-dealers. The statement issued on Monday covered a number of different factors that affect the approval process of a broker-dealer application by a company that deals in digital assets, including custody and whether the assets are treated as securities under the Securities Investor Protection Act (SIPA) of 1970. Investor protection and…

EU Central Bank Won’t Add Bitcoin to Reserves — Says Its Not a Currency

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The European Central Bank (ECB) doubled down on its dismissive stance on bitcoin (BTC) July 9, refusing to recognize it as currency in a Q&A session. Responding to a private query as part of its regular interactive Twitter program, which it administers under the hashtag ‘#AskECB,’ the bank said it had no plans to add bitcoin to its reserves. “Bitcoin is not a currency, it rather is an asset and it is very volatile,” officials wrote quoting chief economist, Philip Lane.  The response continues the ECB’s underwhelming reaction to cryptocurrency…

Goldman Sachs Ramps Up Development of New Secret Crypto Project

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A new job listing from investment banking giant Goldman Sachs reveals apparent intentions to pursue digital asset development at an unprecedented pace.  The listing, now live, seeks a Digital Asset Project Manager under the aegis of the bank’s GS Accelerate in-house incubator program. In a summary of the role, the bank indicates that the future hire will be expected to “develop comprehensive road maps for distributed ledger technology (DLT) development,” “foster a deep understanding of relevant products, technology, and markets,” and “maintain and iterate a complex project planning document with…

Who’s the Bitcoin Bag-Carrying Man Leaving Deutsche Bank?

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The Famous Bitcoin Bagholder Yesterday, the Financial Times published a surprising image: a Bitcoin bag-carrying, nice suit-clad man purportedly leaving the London Deutsche Bank building. While the story that accompanied was focused on the collapse of the massive institution, once one of the larger banks in global finance, many focused on the Bitcoin tote. Questions like “who’s the guy?” and “why is he carrying a bag sporting the enemy of central banks out of a bank?” were brought up. Here are some answers. Firstly, the guy is not a fired…

China to Accelerate Development of State-Issued Cryptocurrency

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Facebook’s Libra has already created a deep impact on regulatory bodies across the United States and Europe. Now, according to a new report, China is also concerned about Libra as it can bring instability to the financial system of the authoritarian state, which pushes it to advance its research of its own state-based cryptocurrency. The People’s Bank of China (PBOC) is going to play a major role in the efforts to develop the country’s own cryptocurrency. The PBOC has been studying digital currencies since 2014 and exploring ways to encounter…

Every Wondered Why Satoshi Nakamoto Chose 21M as the Limit for Bitcoin?

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As we inch closer to the next Bitcoin halving, it’s necessary to think about the specific design of the coin as done by Satoshi Nakamoto. Specifically, why was 21 Million the set figure for Bitcoin mining? Bitcoin was the first fully decentralized digital asset to hit the market. Created a decade ago by Satoshi Nakamoto, it’s currently the world’s biggest cryptocurrency with a market cap of $219 billion and almost 70% dominance at writing time. Satoshi put a lot of thought and work into creating Bitcoin but a decade later, there…

Bitcoin Price (BTC) Hits $13K: Dips Remain Attractive To The Bulls

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There was an upside extension above the $12,800 and $13,000 resistances in bitcoin price against the US Dollar. The price even traded close the second bullish target of $13,200 (as discussed yesterday). There is a major bullish trend line forming with support near $12,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). Dips remain supported if there is a downside correction towards the $12,700 or $12,500 level. Bitcoin price climbed further higher and broke the key $13,000 resistance against the US Dollar. BTC is currently consolidating…