Day: August 21, 2019

Easing Central Bank Policies Could see Investor Influx to Bitcoin Instead of Gold

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While investors agree that the current monetary policies from central banks will spell doom for the market, there is no consensus on which asset takes primacy as a hedge against the coming uncertainties. Mark Mobius of Mobius Capital Partners recently told Bloomberg, that rising bitcoin interest will only fuel the need to buy “hard asset” like gold. Monetary Policies Aiding Bitcoin Haven Asset Argument Speaking to Bloomberg on Tuesday (August 20, 2019), the veteran investor became the latest to fault the easing monetary policies of central banks across the globe.…

SegWit Creator Pieter Wuille Introduces Miniscript, a New Bitcoin Smart Contract Language

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Recently Peter Wuille introduced a new smart contract language for the Bitcoin code called Miniscript. Peter, who is known for creating the SegWit code, says he has been working on this for about a year. In recent news, Peter Wuille, the creator of SegWit has come out with a new work. This time it is a completely new programming language called Miniscript, which is meant for creating smart contracts on the Bitcoin network. Peter posted this new idea on the Bitcoin developer mailing list on Monday, this week. In general,…

Bitcoin Becoming the Better Option as U.S. National Debt Hits $22.5 Trillion

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Need convincing reasons to purchase Bitcoin? President Trump signed a financial agreement that increases the US national debt by about $22.5 Trillion.  To some people, Bitcoin is money, while to some people Bitcoin can be multiple things depending on how it is utilised. A long term investment, a trading vehicle for short term profits, a form of virtual money, or as per the recent hedge against government initiate economic hardships. The United States Increasing Debt According to the statistics conducted by usdebtclock.org, the average national debt for the US has…

Bitcoin Price Back Under $10K Closer to ‘Ideal Buy Zone,’ Says Trader

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After failing to reclaim the $11,000 threshold yesterday, Bitcoin (BTC) price has dropped again to four figures. After the biggest cryptocurrency rapidly dropped $700 in minutes earlier today, the bearish movement continued as Bitcoin dipped below $10,000 price mark. Market visualization | Source: Coin360 At press time, Bitcoin is trading at $9,983, down 6.5% over the past 24 hours. Over the past 7 days, Bitcoin is down around 4.3% percent after reaching an intra-week high of $10,929 on Aug. 19. Bitcoin 7-day price chart | Source: Coin360 The latest drop…

WordProof and WORBLI Partner To Bring Online Content Transparency Using Blockchain Technology

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Enterprise Blockchain platform WORBLI has partnered with online content startup WordProof and now, via WORBLI’s platform, WordProof’s users are able to timestamp their content, enabling true ownership, trust and proof of content authenticity. advertisement WORBLI CEO and Co-founder Domenic Thomas mentioned: “With the recent impetus from blockchain technology, we now have the unprecedented ability to have truths immutably recorded and digitally stored safely. This immutability will become the standard and anyone not subscribing to this standard will eventually see the trust in their content diminish.” WordProof claims they are at…

Tether Plans to Issue CNHT — A Chinese Yuan-Pegged Stablecoin

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Stablecoin operator Tether plans to issue a Chinese yuan-backed stablecoin, local industry media ChainNews reports on Aug. 21. Tether to issue a renminbi-pegged stablecoin Bitfinex shareholder Zhao Dong informed the outlet that Tether — the stablecoin operator behind leading stablecoin USDT — plans to issue a new stablecoin in the near future. The stablecoin in question would be backed by Chinese yuans held in offshore accounts under the CNHT ticker. Dong also reportedly said that his digital asset management platform RenrenBit will be the first to invest in the project.…

Bitcoin Could Get Stuck in $8k-20k Range Endlessly: Bloomberg Analyst |

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Bitcoin could get remain stuck in a price range defined by $8,000 as support and $20,000 as resistance, believes Mike McGlone of Bloomberg Intelligence. The senior commodity strategist on Tuesday said bitcoin price is in an “extended hibernation” state because more people are storing the cryptocurrency like gold instead of trading it on the spot markets. In a longer run, such a sentiment would lead to a reduction in bitcoin’s otherwise wild volatility. That would limit the cryptocurrency’s price fluctuations and would bind it inside a range. Excerpts from his…

SegWit Creator Introduces New Language for Bitcoin Smart Contracts

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Bitcoin Core developer Peter Wuille has introduced new Bitcoin (BTC) smart contract programming language dubbed Miniscript. Wuille, a creator of major Bitcoin network upgrade SegWit, announced the Miniscript project website on the mailing list message for Bitcoin developers on Aug. 19. As noted in the statement, Miniscript was developed and implemented by Wuille, Andrew Poelstra and Sanket Kanjalkar at Canadian blockchain tech firm Blockstream Research. Wuille claimed that the project took the developers around a year, and it has now reached the stage where it needs to get more attention.…

New York Supreme Court Rules the Attorney General has Jurisdiction over Bitfinex

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iFinex (the parent company of Bitfinex and Tether) filed a motion in July to dismiss the lawsuit against the company as the New York Attorney General (NYAG) Letitia James doesn’t have jurisdiction over them in this case. On August 19, the Supreme Court dismissed the motion and ruled that the NYAG has jurisdiction over the cryptocurrency exchange Bitfinex. The Supreme Court Judge Joel M. Cohen ordered the NYAG to continue her investigation of the company over the allegations of fraud and violation of securities laws. Moreover, Bitfinex and the stablecoin…

Australia’s Biggest Bank Says Its ‘BioTokens’ Can Help the Environment

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The Commonwealth Bank of Australia is currently prototyping blockchain tokens meant to enable landowners, environmental groups, developers and governments to invest in sustainable development. Commonwealth Bank’s “BioTokens” The bank announced in a press release published on its website on Aug. 21 that it is working on “BioTokens,” enabling sustainable investments co-developed with BioDiversity Solutions Australia.  Per the report, the project is part of broader developments meant to support regional businesses across the country — and enable the creation of crypto assets representing biodiversity credits for New South Wales Government’s Biodiversity…