Day: November 2, 2019

Bitmain’s New IPO Attempt in Jeopardy as In-Fighting Goes Public

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In 2017, Bitmain ruled the roost and all eyes were on China, but 2018 was a barren year for cryptocurrency. Prices plummeted. Companies crumpled. The long-awaited initial public offerings of two crypto mining titans, Bitmain and Canaan Creative, failed at the final hurdle as the crypto winter humbled even the most ambitious crypto companies.  But not for long. After biding their time in the shadows, following months of rumors and tumultuous events, the two hardware behemoths are filing to go public in the United States.  Bitmain bites back  Founded only…

Former US Congressman Ron Paul Receives His First Bitcoin

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Former Texas Republican congressman and presidential candidate Ron Paul received his reportedly first Bitcoin (BTC) from Bitcoin Foundation board member and Bitcoin wallet startup Ballet Crypto founder, Bobby Lee, on Oct. 28. Ron Paul now owns a gold plated Bitcoin wallet Lee publicly announced the gift he had given to Paul on Nov. 2, noting that the coin has been loaded into a gold-plated Bitcoin wallet produced by his company Ballet Crypto. He added that extra care has been given to customizing the wallet to better suit the former congressman:…

Weak Dollar Can Upend Bitcoin Stock-to-Flow Model

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The creator of the highly popular Stock-to-Flow model for forecasting the Bitcoin (BTC) price says he would be happy if it stays valid for the next 12 years. PlanB: Stock-to-Flow not until 2140 In a Twitter exchange beginning on Nov. 1, the account known as PlanB said the tool, which has proven to be extremely accurate, was not designed to last forever.  “I normally don’t deploy statistical models 120+ years out into the future. I would be happy if the model holds for 1 or 2 or maybe 3 more…

United States National Debt Hits 23 Trillion — Over $1M Per Bitcoin

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The United States national debt is now over $23 trillion, according to website U.S Debt Clock. It is also worth noting that the debt per United States citizen is $69,724 and that the debt to gross domestic product ratio is 106.65%. The milestone has been pointed out on Nov. 1 by Bitcoin advocate Twitter personality Rhythm, who also said that every dollar of U.S. national debt is, in fact, a reason to buy Bitcoin (BTC). Another user presented another interesting take adding: “That’s more than $1,000,000 debt per 1 Bitcoin.”…

Ripple CEO: 50% XRP Transaction Boost Due to MoneyGram and Other Remittances

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Do virtual currencies really threaten existing digital payment systems and traditional financial institutions? Or can they co-exist and help to bolster both ecosystems? If you are familiar with the global crypto ecosystem, I am positive you must have heard of a rumor making rounds recently, suggesting that the recent spike in Ripple’s XRP prices is as a result of the pull by MoneyGram. People familiar with the matter believe the continued increase in Ripple (XRP)trade transactions in Mexico is most likely attributed to the partnership with MoneyGram. Curiosity level raked…

WEF’s Mining Blockchain Initiative Aims for ‘Industry-Wide Trust’

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Last week, the World Economic Forum teamed up with seven major mining and metals firms to develop responsible sourcing and sustainability practices using blockchain. Specifically, the “Mining and Metals Blockchain Initiative” will include building an inclusive blockchain platform, which will ostensibly help to increase “transparency, efficiency or improve reporting of carbon emissions” across the industry. So, is blockchain a truly good fit for mined resources? Blockchain in the mining industry: from theory to practice The WEF’s blockchain initiative announcement seems well-calculated, given that the organization has focused on the technology…

Binance.US Now Lets Users Buy Cryptocurrency With Debit Cards

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  Customers of the United States-based branch of major crypto exchange Binance, Binance.US, can now purchase cryptocurrencies using their debit cards. In a blog post on Nov. 1, Binance.US announced that the exchange will now offer its customers the possibility to purchase cryptocurrencies with a debit card, joining existing U.S. dollar on-ramp and off-ramps, including the automated clearinghouse (ACH) and bank wire. Binance.US also announced that in its first 30 days since launching, the exchange jumped to $15 million in daily trading volume, while increasing its token listings from seven…

French High School Students Will Learn About Bitcoin And Crypto

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France is about to introduce an educational module to its high school curriculum that covers Bitcoin (BTC) and cryptocurrencies. In June, the French Ministry of National Education amended its study plan to incorporate the world’s largest cryptocurrency. French educators are expected to teach an introductory course that will assist students in understanding the impact Bitcoin has on the French and global economies. The ministry further provides teachers with three educational explainer videos that address questions such as “Is Bitcoin the currency of the future?”, “Can Bitcoin replace the Euro?” and “Do…