Day: July 20, 2019

Bitcoin Exchange Wex (Formerly BTC-E) Chief Arrested in Italy: BBC

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BBC Russia has it that former Wex Exchange (formerly BTC-E) operator Dmitry Vasilyev has been detained in Italy. Some may recall the curious price discrepancies on Wex not so long ago, which raised red flags across the industry. The Wex/BTC-e Connection The belief was that the exchange wanted to attract deposits to capture money for nothing. Once the deposits were made, it was believed, withdrawals would be held up – this is the reason for the higher price, as people expect to be able to cash out a higher rate.…

Nouriel Roubini Pens an Anti-Crypto Letter, Calls Financial Regulators to Wake Up

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Professor and renowned economist Nouriel Roubini, also known as Dr. Doom due to his gloomy predictions, penned down a long anti-crypto letter on July 16, calling on the U.S. financial regulators and other regulators to wake up from their slumber concerning crypto. According to Roubini, every civilized country operates stringent financial laws for good reasons. Creating a means to circumvent these laws only allows for fraudulent acts at the detriment of investors. Despite the multitude of fraudulent cases erupting every now and again in the crypto market, he argues that…

Full House: Crypto Cards Show a Strong Hand in 2019

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Until recently, cryptocurrency debit cards appeared to fall short of expectations. Despite many failed efforts in recent years, crypto debit cards are enjoying a second wind thanks to a surge in crypto prices over the summer. With some of the crypto world’s biggest names launching crypto debit cards, Cointelegraph takes a look at the latest updates in the burgeoning payments sector.  What are cryptocurrency debit cards and how do they work?  Cryptocurrency debit cards are almost exactly the same as the bank card you carry around every day in your wallet,…

Bitcoin Price (BTC) Signaling Bullish Continuation To $11K

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Bitcoin price rallied recently above the $10,000 and $10,200 resistance levels against the US Dollar. The price climbed towards the $10,800 resistance and recently started consolidating gains. There is a contracting triangle forming with resistance near $10,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could accelerate towards $11,000 and $11,200 if it clears the $10,800 resistance. Bitcoin price is showing a lot of positive signs above the $10,400 support against the US Dollar. BTC is currently preparing for more upsides and it could…

Bitcoin Cash Milestones: Delivered Code, Upgrades and Platform Development

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Bitcoin Cash (BCH) platform and protocol development have seen a lot of delivered code and projects over the last two years. The upgrades will help Bitcoin Cash scale to the masses, and many of the added features are protocol developments that are unique to BCH. Also read: Indian Government Breaks Silence on Crypto Regulation BCH Infrastructure and Blockchain Development In less than two weeks, BCH fans around the world will be celebrating the anniversary of the blockchain split that occurred on August 1, 2017. Since then there’s been a lot…

KPGM to Work With Microsoft, Tomia and R3 on Blockchain Telecom Solutions

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Business advisory firm KPGM has partnered with tech companies Tomia, Microsoft and R3 to create a blockchain-based settlements solution for the telecom industry, in anticipation of 5G network services. KPMG announced the partnership and product plans in an official blog post on July 16. As per the report, the planned blockchain solution intends to make use of smart contracts in order to reduce disputes between carriers and mobile operators. Such smart contracts would reportedly include critical information for this purpose, by providing details such as correct rates, destination and bilateral…

7 Unorthodox Ways to Mine Bitcoin

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Bitcoin isn’t crazy – in fact it might just be the soundest monetary system this generation has ever known. Some of the techniques miners have devised to extract it, however, are extremely unorthodox, ranging from the ingenious to the downright crazy. Here are seven of the strangest attempts at extracting bitcoin ever conjured. Also read: Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint Bitcoin Mining Takes Many Forms The process of adding bitcoin transactions to a newly created block and propagating it to the network is known as mining. To…

Chiliz to Provide Official Crypto of Football Club AS Rome via Socios

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Italian football club AS Roma will join blockchain-based voting platform Socios through a partnership with sports and entertainment blockchain firm Chiliz. In an official announcement published on July 19, Chiliz revealed that AS Roma is joining Socios, a sports platform powered by Chiliz, in order to launch an AS Roma fan token. The dedicated tokens are set to provide fans with the right to vote in certain club-delegated decisions. The post further explains that “the more fans vote and interact with the club through the app, the more rewards they…

No Official Ban on Cryptocurrencies in India Yet

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India’s Minister of State for Finance Anurag Thakur has said that there is no law in India expressly prohibiting the use of cryptocurrencies. Local media outlet Inc42 reported Thakur’s statement on July 19,  The statement came during a recent exchange between a Member of Parliament (MP) and Thakur inside of Rajya Sabha — the “Council of States” or upper house of Indian legislature. MP Dharmapuri Srinivas reportedly asked Thakur about whether cryptocurrency was actually illegal. Srinivas apparently followed up his first question on legality with others on information and enforcement,…

Cryptocurrency is Part of the Global Currency War, Says Federal Reserve Branch Head

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Cryptocurrency has found itself on the center stage of the global political sphere over the past several weeks, which first began when Fed Chair Jerome Powell compared Bitcoin to gold. Shortly after this, US President Donald Trump shared his thoughts on BTC, which sparked what appears to be a regulatory crackdown on the nascent markets. Now, the President of the St. Louis Federal Reserve is noting that cryptocurrencies are the newest entrants to the ongoing global currency competition, which means that, in his view, crypto is increasingly becoming a competitor…