Day: August 18, 2019

3 Gaping Holes in the Limited Supply Thesis Parroted by Bitcoin Shills

boss

Bitcoin may have limited supply, but demand will not be unlimited. Once bitcoin is revealed to be worthless, demand will dry up. | Source: Shutterstock By CCN Markets: As the resident “Bitcoin Skeptic” here at CCN, it’s my job to provide some level – headed arguments about why you should be extremely careful about buying or trading bitcoin, or any other cryptocurrencies. Don’t be a sucker. And ignore hype from the media. Today I’m focusing on the argument that bitcoin’s limited supply will mean that the cryptocurrency is always in…

Shenzhen Special Economic Zone to Include Digital Currency Research

boss

On Aug. 18, the Central Committee of the Communist Party of China outlined the plans for the future development of the Shenzhen Special Economic Zone, including the research and promotion of digital funds and the national cryptocurrency based on the renminbi. According to Chinese news agency STCN: “Mutual recognition of fund products. Promote interoperability with Hong Kong and Macao financial markets and mutual recognition of financial (fund) products. In the promotion of the internationalization of the renminbi, we will try first and explore innovative cross-border financial supervision. Supporting innovative applications…

BTC Premiums, Coinbase Blow, Binance Revival

boss

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Premiums for Bitcoin in Hong Kong and Argentina despite price slump Bitcoin (BTC) briefly veered back into four figures this week — reversing recent gains. It comes amid cooling tensions between the United States and China in their long-running trade war, with Washington deciding to…

Crypto Regulation Outlook in 2019 — What Is the Global Scenario?

boss

As the global investor community starts to become increasingly aware of what crypto has to offer, it appears as though this burgeoning asset class is becoming more and more accepted. This is probably best highlighted by the fact that after experiencing bearish conditions all through 2018 (with Bitcoin even stooping at one point to around the $3K mark), the digital currency market as a whole was able to swiftly regain its former momentum and make an impressive comeback. Since 2016, a number of countries have either banned digital currencies altogether…

Bakkt’s Long-Awaited Bitcoin Futures Get a September Launch Date

boss

Bakkt, a subsidiary of Intercontinental Exchange (ICE), announced this Friday that a launch date for its long-awaited Bitcoin futures has finally been decided: September 23. Bakkt also revealed that it has acquired a New York state trust charter through the New York State Department of Financial Services (NYDFS). The approval is a huge leap in making the company’s promised product of physically settled Bitcoin futures contracts a reality. The blog post states that these Bitcoin futures will be coming to the market on Sept. 23. It has taken Bakkt over…

Coinbase Custody acquired crypto wallet provider Xapo

boss

Coinbase Custody, the U.S.-based crypto exchange Coinbase’s crypto custody service for institutional investors, acquired crypto wallet provider Xapo’s institutional custody business. The transaction value was not disclosed by Coinbase. But Fortune, quoting a person familiar with the matter, said Coinbase paid $55 million, higher than what Fidelity had proposed. The acquisition has grown Coinbase Custody’s Assets Under Custody (AUC) to over $7 billion in Bitcoin (BTC) and crypto assets, which is stored on behalf of more than 120 clients in 14 different countries. In May, AUC had crossed only the $1…

LTC Founder Charlie Lee Discloses Investment in BTC Development Firm Casa

boss

On Aug. 16, Litecoin (LTC) founder Charlie Lee disclosed in a tweet that he is “an investor in Casa,” a Bitcoin (BTC) personal key security firm. He also noted that he has high hopes for the company: “I have the same feeling about Casa today as I had about Coinbase when I joined in 2013 as the 3rd hire. Casa is making Bitcoin easy to use and that is extremely important for this space. Looking forward to great things!” A notable hire The tweet was posted in response to Casa…

Monetization Platform Coil Receives 1 Billion XRP Grant from Ripple Xpring

boss

Coil, a platform that enables publishers to monetize their content, has recently announced that the company has received a grant of 1 billion Ripple (XRP)trade digital coins from Ripple’s project Xpring. This grant’s initial aim is to increase the use cases of XRP as micropayments on Coil’s platform; in addition, the grant will advance Coil’s monetization platform to create the new standard of Web Monetization. Xpring is an initiative started by Ripple to collaborate with interesting blockchain projects around the world in order to boost the adoption of the XRP…

Bitcoin History Part 15: Silk Road Is Born

boss

Silk Road launched in February 2011 as the darknet’s first bitcoin-based marketplace. Within four months, it would be the darknet’s most notorious site whose reputation extended all the way to the U.S. Senate. The origins of the drugs marketplace can be traced back further, however, to a philosophical thread on the Bitcointalk forum. It was only later that the significance of this thread would be fully appreciated. Also read: Bitcoin History Part 14: The 1,000 BTC Poker Game ‘A Heroin Store’ “As a Libertarian, the thing I love most about…

Allegation: Plus Token Crypto Ponzi Scam Stole $3.2 Billion in Bitcoin & Ethereum

boss

A little-known Chinese cryptocurrency Ponzi scheme might be cashing out billions of dollars, which was looted through a scam called “Plus Token” from people from China, Japan and South Korea. Another crypto scam has recently come into the limelight when the venture capitalist Dovey Wan tweeted about Plus Token, a failed Chinese cryptocurrency. According to Wan, this China-based Plus Token is a crypto Ponzi scheme and it might be liquidating portions of a reported $3.5 billion in stolen cryptocurrency via various crypto exchanges. As Wan tweeted, Plus Token is considered…