Day: September 27, 2019

The Reasons Why Blockchain Is Not Quite Ready for Facebook’s Dreams

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Many people have heard of blockchain technology, but few know what to make of it. Some people will tell you that it’s the next big thing, poised to disrupt almost every industry under the sun and reshape the world, affecting everything from real estate to education to the very structure of modern democracy. Others will assert that blockchain is technically advanced and theoretically interesting, but overhyped and impractical.  NYU professor, former senior economist for international affairs in the Clinton White House’s council of economic advisers and Nobel Prize winning economist…

Libra’s Major Flaw Is That It’s a ‘Walled Garden’

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The major flaw in Facebook’s planned cryptocurrency, Libra, is that it’s a closed system — akin to a “walled garden.” That’s the argument made by Marcus Treacher, Ripple’s senior vice president of customer success, in a CNBC interview published on Sept. 27. “Walled garden” strategies and the antitrust pushback The “walled garden” metaphor has notably been used in the past to refer to commercial strategies pursued by tech giants such as Apple, who endeavor to retain complete control over the software, apps and accessories related to their proprietary devices. This…

Bitcoin Keeps Bleeding and Drops Below $8,000, Further Losses Possible

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Bitcoin price has dropped below the $8,000 and analysts believe that the $7,500 zone is now vulnerable but the cause for this abrupt and sharp drop is yet to be determined conclusively. Just when it seemed like it could not get worse for the Bitcoin HODLERS, the BTC price plunges further. According to data from Messari, BTC dropped below a key support level of $8,000, touching the $7,800 mark. As we published earlier, the BTC price plunged by over $1,000 to settle below $8,500. Now another support has been breached.…

Crypto Exchange Binance Launches Dedicated Staking Platform

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Major cryptocurrency exchange Binance has launched a dedicated staking platform, according to a company announcement published on Sept. 26. The new service will enable Binance users to deposit their token holdings and earn staking rewards, but without having to set up their own nodes to fulfill minimum staking amounts and/or time lengths. Staking vs. mining cryptocurrencies In blockchains that use a Proof-of-Stake (PoS) system — as opposed to Proof-of-Work (PoW) like in Bitcoin — nodes in the network engaged in validating blocks, rather than mining them.  A deterministic algorithm selects…

Block.one, EOS Parent, to Open New Headquarters in Washington D.C.

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Block.one, a software engineering company and the creator of the cryptocurrency EOS (EOS)trade, announced that it will be opening its operations headquarters for the US operations in Arlington, Virginia due to its proximity to its fourth international base in Washington D.C. region. Block.one specializes in developing blockchain software and is the company behind the popular blockchain software EOSIO and the seventh-largest digital currency EOS, established in 2018. The company announced that it will be adding more opportunities for employment and making room for engineering department, information technology, digital security, development…

Bitcoin Cash City Conference Success Wrap-Up

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So many firsts from the Bitcoin Cash City Conference – what a huge success and a proud feather in the cap of North Queensland. As the largest cryptocurrency conference ever held in Australia, Townsville situated in sunny North Queensland worked its magic, fielding a beautiful setting, turned on some perfect winter tropical weather, and went on to supply an unparalleled Bitcoin Cash experience harnessing the city’s extraordinary Bitcoin Cash merchant adoption from which the Bitcoin Cash City and conference rightly gets its name. Together with the premium ticket including a…

Binance Helped UK Police Investigate Criminal Involved in $50 Million Fraud

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Binance, the top crypto exchange by trading volume, has said it helped British police bust a cybercriminal who sold phishing tools that resulted in the theft of millions of pounds. In a blog post on Thursday, Binance chief compliance officer Samuel Lim said that the exchange had worked with the Metropolitan Police Service’s Cyber Crime Unit in the investigation of a Bulgarian individual who was suspected of developing and selling scripts for phishing campaigns that targeted users of over 50 services. The scripts allowed other criminals to obtain personal details from users of…

When to Sell Bitcoin? ‘Never’ — Mark Yusko Says BTC Like Amazon Stock

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Bitcoin (BTC) is a buy and it has never been the right time to sell it, serial investment manager Mark Yusko has told mainstream media viewers. Yusko on Bitcoin: All indicators rising Speaking to CNBC in an interview on Sept. 27, the founder, CEO & chief investment officer of Morgan Creek Capital Management compared Bitcoin’s ten-year history to Amazon.  He was responding to concerns from regular cryptocurrency host Melissa Lee over the Bitcoin price, which fell below $8,000 on Thursday. For Yusko, while the price of Bitcoin can go up…

Software Engineer Reveals Oracle Creation Platform for Bitcoin Cash

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On September 23, Bitcoin Cash (BCH) developer Gabriel Cardona revealed a project called Oracles.cash, a platform he constructed at the Wyohackathon. The application allows anyone to launch oracles on the BCH chain for things like prediction markets, trust-less wagers, and BCH contracts tethered to real-world events. Also read: Bitcoin Cash Acceptance and Community Growth Ramp Up BCH Developer Launches Oracles.cash: Verifiable Multi-Sourced Facts This week the BCH software developer and the creator of Bitbox, Gabriel Cardona, announced the launch of a new project he designed at the Wyohackathon in Wyoming.…

Bitcoin Price Slips Below $8000, CME Bitcoin Futures Manipulation Suspected

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Arcane Research has found a systematic pattern of shorting just before the CME Bitcoin Futures settlement every month, since January 2018. Thus, the speculations of manipulation are being weighed-in. This week has turned to be a major disappointment for Bitcoin investors as Bitcoin price lost 20% by now. Earlier on Wednesday, September 25, Bitcoin lost $1500 in flash crash going below $8500 and striking panic in the market. Since then the bears have held a dominant position over the bulls. Slipping downwards further, Bitcoin breach the support of $8000 and…