Day: October 16, 2019

US Authorities Analyze Bitcoin Transactions to Shut Down Child Porn Ring

boss

United States law enforcement agencies analyzed Bitcoin (BTC) transactions to locate and subsequently shut down a global child pornography site. Per an Oct. 16 press release, the U.S. Department of Justice announced the shutdown of the largest-to-date child sexual exploitation market called Welcome to Video which was operated by South Korean national, Jong Woo Son. The site offered child pornography videos for sale using Bitcoin. Crypto brings authorities closer to catching criminals To trace Bitcoin blockchain transactions and identify users, IRS-Criminal Investigations (IRS-CI), Homeland Security Investigations and other agencies applied…

Bitcoin Back Below $8K — Is the Macro Bullish Trend Finally Broken?

boss

Bitcoin (BTC) price has continued its multiple-day slide, dropping 5.3% over the past two days and 9.6% from it’s $8,800 high 5 days ago. While Bitcoin bears are celebrating, the price remains range-bound, as can be seen clearly on the daily chart. Bitcoin price has been trading in this range since September 25th, the day after the large drop from $10,000.  Bulls will be looking for a break above the range to signal likely price appreciation, while the bears have their eyes on the bottom for a breakdown and further…

Supreme Court of India Postpones Cryptocurrency Ban Hearing to November

boss

The Supreme Court of India has postponed a hearing that would consider the Reserve Bank of India’s (RBI) ban on providing services to cryptocurrency-related business. In an Oct. 16 session on the ban that prohibits banks and financial institutions from providing digital currency-related services, the court shifted the date of the next hearing to Nov. 12. The date was further extended to Nov. 19 due to national holidays in India, which fall on the initial set date. The Reserve Bank of India against cryptocurrencies In late August, the Supreme Court…

IBM & Google Ex-Director Shifts Towards Credits Blockchain

boss

On October 11, CREDITS.COM announced the addition of a new member in the position of Chief Business Officer. The replenishment in the ranks of the company has become a major event in the market due to previous employee experience. Jennifer Trelewicz, who previously held the positions of Director of the Systems & Technology Laboratory at IBM, CTO of Google Russia, and Director of Risks & Market Data at Deutsche Bank, will now make every effort in developing the blockchain project.     The management of Credits, knowing the strengths and vast knowledge…

Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

boss

California-based luxury electric car manufacturer Karma Automotive has begun accepting digital currency as a means of payment at one of its stores in Newport Beach. Karma Newport Beach now enables customers to pay in Bitcoin (BTC) for new vehicle purchases and related services, according to a company press release on Oct. 15. Announcing the new offering, Karma CEO Lance Zhou said: “We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use. Karma’s flagship store will support our efforts to prove…

Yes, Even Bitcoin HODLers Can Lose Money in the Long-Term: Here’s How

boss

Since dropping from its 2019 high at $13,800, Bitcoin (BTC) has been in a rut which has led to the price retracing roughly 43% to $7,800. Traders would take a more conservative approach and describe the last two months of price action as consolidation which is typical after parabolic advances. With the 2020 Bitcoin halving event approaching, the ultimate question on the minds of most investors revolves around whether or not Bitcoin will reach a new all-time high on the heels of the event and more importantly, when.  While every…

Telegram’s TON Launch and Token Distribution — All the Details to Date

boss

In just the last few months, the entire landscape of the crypto industry has changed. Innovation once came from within, with a number of early influencers earning god-like status among the crypto community. In 2019, the industry is marching to a very different tune, with tech companies expanding their influence out of their respective sectors and into the realm of finance.  Telegram’s Telegram Open Network (TON), powered by its own in-house cryptocurrency, Gram, hoped to be the first token-backed product for mainstream use launched by an established tech firm. Just…

Bitcoin Price Technical Analysis (Oct. 16): Trending Sideways with Negative Sentiment

boss

When looking at the chart below we see that Bitcoin(BTC)trade is currently trading at $8,014. It is also seen that the price is still trading between the channels, with the upper limit at $8,436 acting as resistance and the lower limit is at $7,927 acting as support. Currently the cryptocurrency’s price is around its support level. Therefore, long positions can be taken around the support level for swing trading, keeping the stop-loss near the support, as the price is expected to trade between the channels for some time. Dow Theory…

Dubai Chamber of Commerce Partners with Major Local Bank for Blockchain Solutions

boss

Dubai Chamber of Commerce and Industry (DCCI) has partnered with the major regional bank Emirates NBD by signing a memorandum of understanding (MoU) to boost the development of the blockchain-powered Digital Silk Road initiative. Emirates NBD was the first bank in the region to launch a blockchain pilot in this domain and will dispense trade finance solutions to Digital Silk Road using the latest decentralized ledger technology (DLT). Dubai is planning to become a trade as well as a blockchain hub of the world by 2020, and its government has…

Libra ‘Absolutely Not’ in Jeopardy Without PayPal, Visa

boss

Head of Facebook’s Calibra claimed that the recent withdrawal of the seven firms from the Libra Association has no impact on the project. Dropouts will still be able to work with Libra In an interview with Yahoo Finance on Oct. 15, Calibra’s David Marcus argued that Facebook’s cryptocurrency project is “absolutely not” in jeopardy after PayPal, Visa, Mastercard, Stripe, eBay, Mercado Pago and Booking quit the Libra Association. Marcus emphasized that companies outside the formal association will still be able to offer services on the platform: “One thing that is…