Day: July 23, 2019

Theresa May Coin, Like the UK Prime Minister, is Spiraling to an Exit

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Almost a year after Theresa May had succeeded David Cameron as the UK Prime Minister, a cryptocurrency named for her was launched. But more than two years after it came into existence, the Theresa May Coin seems to have reached the end of the road as the PM nears the sunset of her reign. Like the Prime Minister, the mineable cryptocurrency held much promise but has delivered little and is now on its deathbed. Currently, the Theresa May Coin has a market capitalization of under $19,000 down from a peak…

Sorry, I Don’t Want to Pay for More Bombs: Bitcoin as a Hedge Against Funding War

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After nearly two decades of U.S.-led coalition bombs falling on the Middle East, peace in the region still has not been achieved. Now the United States is once again bolstering military forces, this time in Saudi Arabia. Meanwhile, taxpayers in multiple countries are being forced to pay for these ill-fated and unethical campaigns, with little to no say in the matter. Bitcoin and cryptocurrency provide a means, however, to store and move value in peaceful ways, in lieu of donating to the murder of strangers overseas. Also Read: Privacy Is…

Venezuela Sets New Bitcoin Volume Record Thanks to 10,000,000% Inflation

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Venezuelans traded more bolivars for Bitcoin (BTC) than ever before last week, but the statistics say more about fiat than cryptocurrency.  Yet another Bitcoin volumes record for Venezuela Data from Coin Dance, which tracks trading activity on P2P exchanges Localbitcoins, Paxful and Bisq, confirmed the seven days to July 20 were Venezuela’s biggest on record. During that period, users on Localbitcoins alone generated volumes of over 57 billion bolivars, beating the previous all-time high of 49 billion, which appeared in the previous week.  As Cointelegraph reported, Venezuela’s currency continues to…

Bitcoin (BTC) Loses $10,000 Support… Again: What’s Next?

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Bitcoin Falls Under $10,000 Bitcoin has continued to crack under pressure. As of the time of writing this, BTC has dipped under the auspicious $10,000 price point, falling to four digits for the umpteenth time in a matter of weeks. As of the time of writing this, Bitcoin is trading at $9,960 — as it continues to flirt with five digits — and has found itself down 5.4% in the past 24 hours. This data comes courtesy of CoinMarketCap.com. Most altcoins also have losses in the 5% range, going to show…

Iran Legalizes Crypto Mining Within Days of a Chinese Plea for ‘Better Conditions’

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Iran is legalizing crypto-mining, giving a boost to this activity which was already booming despite the unfavorable position of the authorities. According to the Iran Chamber of Commerce, Industries, Mines and Agriculture, the government decided to give the green light to this activity, promoting a series of legal reforms that put an end to a period of uncertainty, misunderstandings, persecutions and contradictory statements among officials. Iran Mining: From Threat to Business Opportunity Iran is one of the countries where crypto-mining is the most profitable. due to cheap electricity prices and…

Korean Crypto Platform ICON Launches Decentralized Passport Service

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Korean crypto platform ICONLOOP has been busy despite the prolonged lull in altcoin activity. The latest development from the project is a blockchain-based self-sovereign identity authentication service. ICON Keeps Up Crypto Innovation Many crypto projects have fallen by the wayside as the prolonged altcoin winter keeps token prices on the floor. Some, however, have shrugged off market matters and soldiered on with their projects. South Korean ICONLOOP is one of those blockchain startups that keeps on innovating and its latest offering is an identity authentication services based on the blockchain.…

Robinhood Tops $7.6B Valuation Raisings $323M from DST, Sequoia, and Ribbit Capital

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Robinhood, the stock trading app, has achieved a Series E valuation of $7.6 billion after a successful $323 million funding round led by DST Global, Ribbit Capital, Sequoia, NEA, and Thrive Capital. Robinhood, the free stock trading app, on July 22 announced a staggering $323 million funding round led by DST Global. The latest Series E financing has valued the Menlo Park-headquartered firm at around $7.6 billion. The funding process moved the valuation of Robinhood up from its  Series D valuation of over $5 billion. According to the company, Thrive…

Winklevoss Book ‘Bitcoin Billionaires’ Author Joins Hit Showtime TV Series

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Bestselling author of “The Accidental Billionaires” Ben Mezrich is poised to bring a crypto savvy flair to the hit U.S. TV show “Billions.” In a tweet published on July 22, Mezrich quipped he was “taking the Acela straight to Hollywood, baby!” and joining as a consulting producer for Billions’ upcoming fifth season. The book behind The Social Network Mezrich’s nonfiction bestseller “The Accidental Billionaires: Sex, Money, Betrayal and the Founding of Facebook” had prominently featured Bitcoin permabulls Cameron and Tyler Winklevoss — whose early involvement in Facebook’s inception turned out…

Iran Legalizes Crypto Mining Within Days of a Chinese Plea for ‘Better Conditions’

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Crypto mining is now an official industry in Iran. | Source: Shutterstock Iran is legalizing crypto-mining, giving a boost to this activity which was already booming despite the unfavorable position of the authorities. According to the Iran Chamber of Commerce, Industries, Mines and Agriculture, the government decided to give the green light to this activity, promoting a series of legal reforms that put an end to a period of uncertainty, misunderstandings, persecutions and contradictory statements among officials. Iran Mining: From Threat to Business Opportunity Iran is one of the countries…

Bitcoin Price Clings to $10K But Now Below ‘Neutral Area,’ Says Trader

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Bitcoin (BTC) price slid back under $10,000 July 23 after a period of sideways action broke down to send the largest cryptocurrency back to four figures. Market visualization. Source: Coin360 Bitcoin price swirls around five figure mark Data from Coin360 showed BTC/USD trading just below the barrier once again Tuesday, having failed to find support. At press time, the price fluctuated within $50 of $10,000. Previously, the pair traded in a narrow range around $10,300, on Monday dropping to those levels after circling $10,600 over the weekend. The latest downturn…