Month: October 2019

Swiss Crypto Bank Gets Approved for Singapore Banking License

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Swiss-based cryptocurrency bank Sygnum has received the go-ahead to offer banking services in Singapore. Sygnum: license is “important milestone” In a blog post on Oct. 31, Sygnum, which gained a Swiss banking license in August this year, can now proceed with its first product for the Singapore market. Sygnum was the first Swiss company to win the title of cryptocurrency bank and will target accredited investors and institutions with a multi-manager fund, which will also debut in its home jurisdiction. Long on the cards, the Singapore documentation comes in the…

Veteran Regulator Tells Sichuan to Tap Hydropower for Blockchain

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A veteran Chinese regulator has told those tasked with steering the strategic development of Sichuan province to tap surplus hydropower for the blockchain industry. Jiang Yang —  former vice-chairman of the China Securities Regulatory Commission — advised strategists that: “Sichuan should study further about how the province’s cheap hydropower resources can attract digital currency-related businesses.”   Yang’s remarks were noted in an Oct. 30 report from South China Morning Post. Use cryptocurrency mining to absorb excess output Sichuan, located in south-western China, has a protracted rainy season and is thus the…

Bitcoin Futures and Bakkt Platform: Everything You Should Know

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We all know stories of how someone bought a cryptocurrency and then lost everything. It happens not because of a leap in course, but because of the unreliability of cryptocurrency exchanges. Therefore, Bitcoin futures, which public exchanges launched not so long ago, have become a popular tool for earning money among investors. In this article, let’s go deep into Bitcoin futures, define their peculiarities and find their alternatives. About Futures The future is a forward contract for buying or selling an asset in the future at a certain price. After…

‘Should I Bring My Ramp?’ Tony Hawk to Speak at SF Bitcoin Conference

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Bitcoin (BTC) has cemented Tony Hawk as one of its long-term fans as the skateboarding legend prepares to speak at a major conference. Hawk HODLing BTC for at least 5 years Accepting the invitation to next year’s Bitcoin 2020 conference in San Francisco, Hawk confirmed previous statements he made about being a Bitcoin investor. “Looking forward to it! I’ve been riding the Bitcoin transitions for over 5 years now. Which reminds me… should I bring my ramp?” he responded in a tweet on Oct. 31. Hawk has given mixed hints…

11 Years Ago Today Satoshi Nakamoto Published the Bitcoin White Paper

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Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or group pseudonymously identified as Satoshi Nakamoto. A revolutionary text Bitcoin: A Peer-to-Peer Electronic Cash System — published on Oct. 31, 2008 —  outlined a tamper-proof, decentralized peer-to-peer protocol that could track and verify digital transactions, prevent double-spending and generate a transparent record for anyone to inspect in nearly real-time.  The protocol represented a cryptographically-secured system — based on a Proof-of-Work algorithm —  in which Bitcoins (BTC) are “mined” for a reward…

Financial System Blind to Crypto’s Deflationary Impact, Says Analyst

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Investment strategist William Peets has pointed to a widespread underestimation of the deflationary impact of cryptocurrencies such as Bitcoin and blockchain for global finance. Peets is currently CIO and portfolio manager for digital asset strategies at Passport Capital.  In an Oct. 30 interview with Real Vision Finance, he said that blockchain represents a generational change in technology with profound implications for the existing financial system — something that most have been too slow to recognize. Redressing macro imbalances Finance is ripe for disruption by crypto and blockchain, Peets said, noting…

Bitcoin (BTC) Price Likely Positioned For Next Rally

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Bitcoin price is holding the key $9,000 support area against the US Dollar. The price is facing a couple of short term resistances near the $9,200 and $9,400 levels. This week’s followed major bearish trend line is active with resistance near $9,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to rally if it breaks the $9,200 resistance and the $9,320 pivot level. Bitcoin price is showing a lot of positive signs above $9,000 against the US Dollar. Overall, BTC is likely…

Binance.US Cryptocurrency Exchange to List NEO and ATOM

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The United States-focused wing of leading cryptocurrency exchange Binance will add support for Neo (NEO) and Cosmos (ATOM). Binance.US announced on Oct. 30 that it will add full trading support for the two tokens on Oct. 31, both of which are among the top-20 tokens by market capitalization according to Coin360. Per the announcement, users can already start depositing funds before trading commences at 9:00 p.m. EST tomorrow.  Cosmos provides a blockchain-based platform that works as a mediator between different blockchains. It launched its first ecosystem hub in March 2019…

Ethereum (ETH) Losing Pace, Could Dip To $175 Before Higher

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Ethereum price is under pressure and it could slide towards the $175 support against the US Dollar. Bitcoin is currently correcting higher and it recently tested the $9,000 support area. There was a break below a key bullish trend line with support near $186 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently consolidating near $182 and it could decline towards the $175 support. Ethereum price is struggling to continue higher versus the US Dollar, similar to bitcoin. ETH price might revisit the $175 support…

10th-Largest Indian State to Release Policy for Blockchain and AI

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The Indian state of Tamil Nadu is reportedly working on a state-level policy for blockchain technology and artificial intelligence (AI). On Oct. 31, local news outlet The Times of India reported that Tamil Nadu, the 10th-largest state in India, is working on separate policies for blockchain and AI which could be released as soon as the next 10 days. Tamil Nadu’s blockchain and AI policies are expected to establish ground rules on how the state government can apply the emerging technologies for service delivery and solving governance issues. Santosh Misra,…