Day: August 15, 2019

Bitcoin Price Shows Signs of Recovery as Altcoin Market Stays Red

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Thursday, Aug. 15 — Bitcoin (BTC) is seeing some upward movement as Ether (ETH) and XRP continue to slump. Market visualization. Source: Coin360 Bitcoin is trading at $10,407 at press time, representing a 0.82% price increase on the day. Bitcoin has ranged from just under $10,000 to over $12,000 this month and had most recently been on a downward streak. However, after bottoming out around $9,700 today, BTC has turned around to retake the $10,000 barrier and push beyond. Bitcoin 7-day price chart. Source: Coin360 The number two cryptocurrency, ETH,…

Crypto Mining Company CoinMine Secures $2.5 Million in Seed Round

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Cryptocurrency mining company CoinMine has received a fresh injection of funds from a $2.5 million seed round led by the investment company M13. Coinmine announced the successful fundraiser in an official blog post on Aug. 15. As part of the announcement, Coinmine said it will continue to support more cryptocurrencies and ship out “over-the-air” updates.  The company offers a product called Coinmine One, which is an all-purpose cryptocurrency mining computer that costs $700. The announcement also included a shoutout to previous investors, who include familiar names such as Coinbase Ventures…

Bitcoin Is a ‘Chaos Hedge, or Schmuck Insurance‘

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Morgan Creek Capital CEO Mark Yusko called Bitcoin (BTC) a “chaos hedge, or schmuck insurance,” in an interview with CNBC Fast Money on Aug. 14. Yusko made the comment while explaining the folly in paying too much heed to the daily price movements of BTC. Should we park the narrative of Bitcoin price’s correlation with global turmoil? The interviewer noted that people had been making a big thing of BTC’s recent bull run and apparent correlation with global turmoil. As the turmoil appeared to have gotten worse, and Bitcoin had…

How Much Money Have You Earned If You Started Bitcoin Early?

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Ever wonder how it feels like to become a bitcoin millionaire? Apparently, people who took the risk approximately 5 years ago are now enjoying the benefits of their investment in an unexpected way. Just to give you a preview, the worth of digital coins reached an all-time record of nearly $20,000 in December 2017. Less than a year after, it’s value has dropped to about $6,400, based on digital-currency site CoinDesk, whose Bitcoin Price Index tracks costs from several key exchanges, which is understandable considering its fluctuating nature. Even though…

Binance to Resume US Operations Within Two Months, Predicts CEO CZ

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Changpeng Zhao, CEO of major cryptocurrency exchange Binance, has predicted that Binance will resume crypto-to-fiat operations in the United States within the next two months. Navigating U.S. regulation Zhao, also known as CZ within the crypto community, made his prediction in an interview with online news outlet Cheddar published Aug. 15. When asked about Binance’s return to operations in the U.S., Zhao said:  “I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but…

Samsung Adds Bitcoin Support to Its Blockchain Keystore

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On August 13, Samsung, the South Korean multinational conglomerate, published the company’s new Blockchain Keystore SDK for developers and the latest release supports Bitcoin Core (BTC). The version follows Samsung’s previous Keystore release which only supported ETH and the ERC20 standard. Also Read: Exploring the SLP Token Universe Built on the Bitcoin Cash Chain Samsung Quietly Adds BTC Support to Its Blockchain Keystore Cryptocurrency advocates were pleased to notice that Samsung (OTCMKTS: SSNLF) had finally added BTC support to the company’s Blockchain Keystore software development kit (SDK). The news came…

Alibaba Files US Patent for Blockchain Domain Name Management System

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Chinese online retail giant Alibaba has applied for a United States patent entitled “Domain Name Management Scheme for Cross-Chain Interactions in Blockchain Systems.”  Alibaba filed its latest application on Aug. 15 in a continuation of an application filed in November 2018. According to the filing, Alibaba intends to patent a system that uses what they call a “unified blockchain domain name” (UBCDN) in order to denote and share information. In the system, Alibaba proposes to use a computing system to generate a UBCDN message which contains a blockchain domain name…

Court Denies Craig Wright’s Motion for Judgment in Kleiman V. Wright

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Judge Bruce Reinhart has denied a motion from Craig Wright in the ongoing Kleiman V. Wright saga. Wright apparently filed for a judgment on the pleadings in a two-pronged attack — neither of which met with sympathy from the court. The court issued its decision on Aug. 15. As stated in the court document, Wright presented a factual attack, which was that the court lacked subject matter jurisdiction. For his facial attack, Wright argued that Kleiman’s estate failed to properly specify the citizenship of its parties. These attacks were aimed…

Why the Inverted Yield Curve Failed to Boost Bitcoin’s Price

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Wednesday’s yield curve inversion should have been bullish for bitcoin since it’s a major recession indicator, but the BTC price fell. Market observers explain why. | Source: Shutterstock By CCN Markets: The inverted yield curve on Wednesday should have been a catalyst in moving the bitcoin price higher. That’s because it signaled a recession, which tanked the stock market. It was just about a week ago that the bitcoin price rose in the wake of macroeconomics that sank the stock market. Observers cheered that finally the crypto was being seen…

Why the Inverted Yield Curve Failed to Boost Bitcoin’s Price

boss

Wednesday’s yield curve inversion should have been bullish for bitcoin since it’s a major recession indicator, but the BTC price fell. Market observers explain why. | Source: Shutterstock By CCN Markets: The inverted yield curve on Wednesday should have been a catalyst in moving the bitcoin price higher. That’s because it signaled a recession, which tanked the stock market. It was just about a week ago that the bitcoin price rose in the wake of macroeconomics that sank the stock market. Observers cheered that finally the crypto was being seen…