Day: October 2, 2019

æternity Teams Up with Uruguay Can to Track Cannabis Production on the Blockchain

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Open-source blockchain for building decentralized applications æternity is creating a supply chain management platform for the cannabis trade south of the equator alongside Uruguay Can, one of South America’s leading cannabis production companies. advertisement In December 2013, Uruguay became the first country in the world to completely legalize the production and sale of marijuana. With a population of only 3.4 million nestled between two neighbouring giants, Brazil and Argentina (with populations of 208 and 43 million respectively), Uruguay has been an innovator in both recreational and medical marijuana throughout the…

Altcoin Platform Coinexchange.io Closes For Financial Reasons

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Altcoin trading platform Coinexchange.io has announced that it is shutting down due to financial difficulties. In an official announcement on Oct. 1,  the platform noted that the closure was purely a business decision and is not connected to any security breach or other incident. No longer economically viable Coinexchange.io is currently seeing daily traded volumes of roughly $700,000, according to CoinMarketCap, and supports over 500 altcoins. The platform stated: “Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level…

Bitcoin Price to Hit $90,000 After May 2020 Halving, Predicts Germany’s Top Bank

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One of Germany’s biggest banks, Bayern LB, has just published a report where it pitched Bitcoin against gold, with a very bullish conclusion. According to the Munich-based bank, Bitcoin price will hit $90,000 by 2020, more than 4 times its current all-time high and per the report, the bank believes that Bitcoin will do much better than gold, especially after the upcoming halving next year. In the report titled “Is Bitcoin outshining gold?”, Bayern LB considers the stock-to-flow (SF) ratio. The SF is simply a method used to analyze certain…

Popular Airport Bar in New Jersey Allows Payments in Cryptocurrency

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Terminal One, a very popular bar in Elizabeth, New Jersey has stepped up its payment portfolio to include a cryptocurrency option that will allow customers to pay for their drinks in digital currencies. A Litecoin merchant ambassador, Jon Moore, posted a tweet in which he held out a sticker of cryptocurrencies, Bitcoin(BTC)trade and Litecoin (LTC)trade, that will be accepted at Terminal One. The bar happens to be a really popular destination for many passersby mainly because of its proximity to the Newark International Airport. From October 2nd, these customers will…

Ex-Google Product Manager Joins Multicoin Capital as Investment Principal

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Blockchain and cryptocurrency investment firm Multicoin Capital hired a former Google product manager as one of its new investment Principals. In a blog post published on Oct. 1, managing partner Kyle Samani said that Tony Sheng would help secure new deals for the firm while also working with existing portfolio members. Crypto market offers “tremendous alpha” “The crypto market is still very young, and there is tremendous alpha to be captured in many ways. Things are only just starting to get interesting,” he summarized, adding: “With the all the right…

BitTorrent’s Decentralized File Sharing Protocol BTFS Launches Its Mainnet

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BitTorrent’s decentralized file sharing protocol BitTorrent File System (BTFS) has launched its mainnet. The project seeks to become what developers describe as “the world’s largest and first scalable decentralized storage system.” According to a blog post published on Oct. 1, BTFS released various new features for the occasion and rolled out 3,000 new nodes. The post summarized:  “As October approaches, with BTFS integrated into the world’s largest P2P network, BitTorrent, BTFS has completed its official launch of the mainnet, representing a new starting point for BTFS and a big step…

No Plans for Physically Settled BTC Contracts

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The Chicago Mercantile Exchange (CME) Group has no current plans to launch physically settled Bitcoin (BTC) contracts, a senior executive has said. Tim McCourt, its global head of equity index and alternative investment products, told MarketsMedia on Oct. 1 that all new contracts or products are driven by customer demand. CME’s new options will be settled in BTC futures CME has been trading BTC futures since December 2017 and recently revealed plans to launch options in the first quarter of 2020, pending regulatory review. Its current Bitcoin futures contracts are…

Ripple Senior Executive: Facebook Libra Crypto Project Is a Walled Garden

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In a recent CNBC interview, Ripple’s senior vice president of customer success Marcus Treacher has described Facebook’s Libra crypto project as a “walled garden,” meaning a closed system. He also added that in contrast with Facebook Libra, Ripple (XRP)trade is no walled garden; however, the social media giant’s entry into the crypto world is a really good thing for the domain. The term ‘walled garden’ had been used in past for companies like Apple and Facebook which are known for having very tight control over the whole ecosystem of their…

Facebook’s Libra Backers Fear It Could Taint Their Image Among Regulators

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Visa, Mastercard, PayPal and Stripe are unsure whether they wish to become paid-up participants in Facebook’s Libra digital currency. As Bloomberg reported on Oct. 2 citing “people familiar with the matter,” the four payment giants have reservations about the plans.  Sources: Facebook “oversold” regulator support The companies formed part of the cohort which originally said they wished to act as nodes for Libra, subject to a fee of $10 million.  Libra has since sparked a major backlash from regulators worldwide and the four now share concerns their own reputation could…

Bitcoin Price (BTC) Remains Vulnerable Below $8,500

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Bitcoin price struggled to climb above $8,500 and declined recently against the US Dollar. The price is currently trading below $8,300 and it could continue to decline towards $8,100. There was a break below an ascending channel with support near $8,275 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline further towards the $8,100 or $8,000 support in the near term. Bitcoin price is struggling to continue higher above $8,400 and $8,500 against the US Dollar. BTC must stay above $8,000 to start…