Day: September 25, 2019

Bakkt, Technicals or Trump? 3 Theories on Bitcoin’s Sudden 13% Drop

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Bitcoin (BTC) is down over 13% on the day, inviting competing interpretations as to what could have triggered the top coin’s downward turn. As of press time, Bitcoin is circling the $8,400 mark — signaling a hefty 17.8% loss on the week. Bitcoin 24-hour chart. Source: Coin360 Is Bakkt to blame? Among the most popular theories among cryptocurrency commentators is the market’s disappointment at the apparently tepid uptake of Bakkt’s just-launched, physically-settled Bitcoin futures contracts among institutional clients. The contracts — which break the mold by being settled in Bitcoin,…

McAfee Hints Institutional Money Won’t Bring Bitcoin Revolution

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In a tweet posted Monday, September 23, Libertarian presidential candidate and crypto rebel John McAfee wrote: “BAKKT goes live today. It is institutionalized and monitored … if you are “initiated” into crypto, then you certainly won’t use it and will spend time luring the new users into the Unlimited Crypto World.” The maverick anti-politician raises an important point. The real revolution of crypto is individuals using it autonomously, privately and freely, not in institutionalization or mainstream adoption alone. Also Read: Market Update: Low Volumes and Uncertainty Shake Crypto Traders The…

Bitcoin Cash now Available on Luno

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Luno, the blockchain-based digital currency firm with a presence across the world, announced the integration of Bitcoin Cash (BCH) into their platform, this according to news published by thenews.asia on September 25, 2019. Luno Landing According to the company, the decision was made based on the performance of Bitcoin Cash, which has proven to be a safe and convenient asset for daily transactions, whilst also considering that some users already had a Bitcoin Cash wallet activated on their accounts. Luno’s decision comes after collecting feedback from its users, which was…

Bitcoin Price $8K Bounce Now Aligns Perfectly With Stock-to-Flow Chart

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Bitcoin (BTC) escaped a fresh dip to $7,500 on Sept. 25, avoiding the worst scenario analysts had warned about before its major crash. Cryptocurrency market daily overview. Source: Coin360 Bitcoin circles $8.3K halving prediction Data from Coin360 showed the largest cryptocurrency paring some losses between $8,000 and $8,500 on Wednesday.  Previously, BTC/USD had bottomed out below $8,000 on some exchanges, capping a nightmarish 12 hours in which the pair shed almost 20%.  Previously, one trader warned markets were set for a dive to $7K-levels.  Bitcoin seven-day price chart. Source: Coin360…

Coincheck Owner Monex to Pay Out Dividends in Bitcoin to Shareholders

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Japan’s financial giant Monex Group, owner of cryptocurrency exchange Coincheck, will be granting Bitcoin (BTC) as a mid-term shareholder benefit in 2019. In addition to the existing shareholder benefits, the new dividends will be paid out to those who hold the company’s shares as of Sept. 30, 2019, as a mid-term shareholder benefit for the 2019 fiscal year, Monex Group announced in a press release on Sept. 24. Coincheck account holders For shareholders who hold Coincheck accounts, Monex Group will give the equivalent of 500 Japanese yen ($4.65) in Bitcoin,…

Bitfinex Registers a Big Win in the Tether Stablecoin Court Case

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The Appellate Division of the New York Supreme Court said that Bitfinex won’t have to continue turning the documents of its Tether use to the New York Attorney General’s office (OAG), for now. Its a big win for cryptocurrency exchange Bitfinex on the long going Tether stablecoin case as the Appellate Division of the New York Supreme Court puts a stay on the filing by attorney general Letitia James in April 2019. Bitfinex currently shares leadership with stablecoin coin issuer Tether. James earlier accused Bitfinex of taking undue advantage of…

SEC Delays Decision on Wilshire Phoenix Bitcoin ETF

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The US Securities and Exchange Commission (SEC) has delayed its final verdict on the Bitcoin exchange-traded fund (ETF) that is backed by investment firm Wilshire Phoenix. The rule change proposal is currently being evaluated. The U.S. Securities and Exchange Commission (SEC) again delayed its decision about Bitcoin exchange-traded fund (ETF) proposed by New York-based investment-management firm Wilshire Phoenix. As per the public filing, SEC needs to assess the proposed rule change to allow NYSE Arca in order to deal with shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Arca…

Aeternity Blockchain Will Be Used to Track Cannabis in Uruguay

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Decentralized application (DApp)-focused blockchain Aeternity will be used to track the supply chain of Montevideo-based medical and recreational cannabis producer Uruguay Can. Aeternity announced in a press release published on Sept. 25 that it is creating a supply chain management platform for the partner combining the Internet of Things and DApps. Aeternity Americas CEO Pablo Coirolo explained: “We want to be the first to offer a business-level solution in partnership with leading technology providers and cannabis producers, processors and distributors. […] æternity technology is ideal for tracking the entire cannabis…

Bitcoin Will be Accepted by France’s 30 Major Retailers in 2020

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30 famous brands will launch support for Bitcoin payments in France. Among them are sportswear giant Decathlon, sneakers emporium Foot Locker, cosmetics store Sephora, design company Moustache and more. Crypto payments seem to have achieved mainstream use: in France, 30 famous brands are going to launch support for Bitcoin payments. By early 2020, over 25,000 sales points will allow their customers to make purchases in Bitcoin. Among the retailers that will support the initiative are sportswear giant Decathlon, sneakers emporium Foot Locker, cosmetics store Sephora, furnishings retail chain Conforama, design…

Google’s Quantum Computer Breakthrough Not a Risk to Bitcoin, Says Dev

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A well-known cryptographer has poured cold water on fresh fears that recent advances in quantum computing could endanger Bitcoin (BTC) security.  Bitcoin versus Google’s “quantum supremacy” In a Twitter discussion on Sept. 24, ex-Bitcoin Core developer Peter Todd led the criticism, which followed claims from Google it had achieved “quantum supremacy.” In a paper seen by the Financial Times, the tech giant said it had created a computer that solved an equation which would otherwise take 10,000 years in just 3 minutes 20 seconds.  “To our knowledge, this experiment marks…