Month: August 2019

Chinese Central Bank ‘Crypto’ Not Launching in November: State Media

boss

The Global Times claims that China’s central bank has refuted recent reports of its plans to launch a state-backed cryptocurrency this November. The Global Times is China’s national English language tabloid, under the People’s Daily — the official newspaper of the Communist Party of China (CPC). Its editor-in-chief, Hu Xijin, is perceived to have close links to the Chinese authorities and is closely watched by financial market participants globally.  On Aug. 28, the paper posted via its official Twitter handle that: “Refuting media reports of launching a state-backed cryptocurrency in…

Trader Fears Bitcoin Price Crash as Crypto Bloodbath Continues

boss

Bitcoin and the wider crypto market are taking an absolute beating on Thursday. | Source: Shutterstock Following an abrupt drop from $10,277 to $9,700 in the bitcoin price on August 28, the dominant crypto asset has continued to demonstrate weakness in its short term trend. The bitcoin price has dropped by more than $1,000 in the past three days (source: coinmarketcap.com) In the past 12 hours, the bitcoin price has declined from $9,750 to $9,320 across major crypto exchanges including Bitstamp and BitMEX. Alternative crypto assets in the likes of…

Trader Warns Bitcoin Price Dip to $8k as Bloodbath in Crypto Continues

boss

Bitcoin and the wider crypto market are taking an absolute beating on Thursday. | Source: Shutterstock Following an abrupt drop from $10,277 to $9,700 in the bitcoin price on August 28, the dominant crypto asset has continued to demonstrate weakness in its short term trend. The bitcoin price has dropped by more than $1,000 in the past three days (source: coinmarketcap.com) In the past 12 hours, the bitcoin price has declined from $9,750 to $9,320 across major crypto exchanges including Bitstamp and BitMEX. Alternative crypto assets in the likes of…

Bitcoin Bleeds Out Entire Crypto Market Losing Billions in Price Within Minutes

boss

Bitcoin and a few major altcoins have shocked the market as they have shed significant weight in a considerably short time. Right now, the crypto market prices have lost billions and there is no pointer to a bull run in the near future. The entire crypto market has been in a free fall of sorts for more than a few hours now. On Wednesday the 28th of August and in less than an hour, Bitcoin price plunged more than 5% losing more than $500 to just a little above $9,600.…

US Banking Giant PNC Starts Using RippleNet for Cross-Border Payments

boss

PNC — the United States’ eighth-largest bank, with almost $400 billion in assets — has become the country’s first to start using the RippleNet blockchain network for cross-border payments. Fintech Futures reported on Aug. 29 that PNC Treasury Management is now offering RippleNet-based cross-border payments solutions to its commercial clients, claiming that the blockchain solution will give them: “The ability to receive a payment from an overseas buyer against their invoices instantly, transforming the way they manage their global account receivables and allowing them to better manage their working capital.”…

Bitcoin ‘Failed Safe Haven Test’ After 7% Drop, Peter Schiff Gloats

boss

Bitcoin (BTC) has shown it is not a safe haven asset, gold bug Peter Schiff has said after the largest cryptocurrency dropped 7% in daily trading. In a tweet on Aug. 28, Schiff, who has become increasingly known as a Bitcoin naysayer, claimed BTC/USD dipping below $10,000 once again on Thursday put pay to theories it functioned as a hedge against fiat volatility. Schiff: Bitcoin “failed safe haven test” “Bitcoin has again failed the safe haven test. On Friday, as escalating trade tensions sent global stock markets plunging, investors sought…

What is Algorand ? | CCG

boss

Algorand (ALGO) is a new cryptocurrency that is trying to address the three biggest issues plaguing the crypto space – decentralization, security, and scalability. Currently, a crypto project can’t improve two features without compromising the third one. Eg. Bitcoin is fully decentralized and secure but has notable scaling problems. On the other hand, while Ripple is secure and scalable, it is highly centralized. Algorand aims to provide a decentralized network for fast (1,000 TPS), secure, and cost-effective transactions. Plus, it will also allow users to efficiently tokenize assets with maximum…

Bitcoin and Ether Market Update: August 29, 2019

boss

Total crypto market cap lost $13.4 billion of its value since Monday, August 26 and now stands at $249 billion. Top ten coins are all in red for the last 24 hours with Binance Coin (BNB) and Litecoin (LTC) being the worst performers with 17.2 and 10 percent of loses respectively. At the time of writing bitcoin (BTC) is trading at $9,602 on the Bitstamp daily chart, while ether (ETH) dropped to $169 and Ripple’s XRP fell to $0.252. BTC/USD Bitcoin remained relatively flat on Sunday, August 25, 2019, and…

BiboxEurope’s Temporarily Suspended Insta-Buy Following Huge Unexpected Demand Now Back Online

boss

The recent introduction of BiboxEurope’s credit card Insta-Buy feature has received a great response from the cryptocurrency community. The feature, that went live on August 20,2019 attracted huge user demand, which caused all the bitcoins and ethers allocated to the Insta-Buy feature to run out in no time. However, the service now stands restored. The unexpected demand, during the first day of the feature launch, caught BiboxEurope unprepared, forcing them to suspend the service temporarily. According to the company, they had allocated a total of 52 BTCs and 276 ETHs…

Bakkt to Open Its Warehouse for Physical Storage of Bitcoin on Sept. 6

boss

The Bakkt Warehouse will provide the safe and secure of physical Bitcoin tokens in a regulated environment starting from September 6th. The Warehouse facility is specifically designed for its physically-settled Bitcoin Futures contracts. Intercontinental Exchange‘s (ICE’s) Bakkt platform has already started some initial preparations as it is set to launch its Bitcoin Futures contracts in the next month on September 23. In its latest announcement on Twitter, Bakkt announced that its Warehouse will start offering customers secure storage of their physical Bitcoin tokens. Bakkt’s Twitter announcement reads: “On Sept 6,…