Day: November 16, 2019

Dow Jones Industrial Average above $28000, Bitcoin Disappoints

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Traditional markets and indexes are currently hitting new records. In one such first-ever milestone, the Dow Jones Industrial Average rallied to a record 28,000 plus levels on Friday. The rally comes amidst waning tensions in the U.S.-China trade war with the hope of reaching a trade deal between the two economic powerhouses. On Friday, November 15, Dow Jones’s 30-stock average climbed 222.93 points at 28,004. In just the last four months, the Dow Jones price index has surged by 1000 points. Some of the top-performing stock during the same period…

OneCoin’s Konstantin Ignatov Confesses to Fraud in the Crypto Ponzi Scheme

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The brother Ruja Ignatova, Konstantin Ignatov, has confessed to his involvement in the crypto fraud of OneCoin. He pleaded guilty to multiple charges such as fraud and money laundering. Authorities have concluded that over $4 billion was fraudulently raised internationally in what appears to have been a cryptocurrency Ponzi scheme. The organization behind OneCoin that is based in Bulgaria denies all allegations and remains operational. Ignatov was arrested in March, from the Los Angeles International Airport. After which, he signed a plea deal file on October 4th that was later…

The aBey Foundation Introduces new Crypto-Enabled Credit Card Technology

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Speaking at BlockShow Asia 2019, aBey Foundation co-founder Dr. Ciprian Pungila announced aPay, a payment system that lets the cryptocurrency community use its assets for daily payments via credit card integrations. aPay users can send their cryptocurrencies to the platform and gain access to three different credit cards that operate with UnionPay, Mastercard, and Visa. They can therefore use their cryptocurrencies for daily payments. Based on new blockchain technology developed by the aBey Foundation, aPay promises to be a speedy blockchain that introduces new architecture and high-performance computing that would…

Ether (ETH) Looks to Break Nearly 2-Year Bear Market Against Bitcoin

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This past week, Bitcoin (BTC) price had many investors biting their nails as the top crypto asset turned bearish and is currently fighting to stay above crucial support at $8,300.  Meanwhile, altcoin investors are growing increasingly bullish sentiment wise and a number of lesser-known altcoins rallied impressively throughout the week. Ether price (ETH) is also heating up and the ETH/BTC pair is continuing to flash bullish signals.  Crypto market data daily view. Source: Coin360 The Nov. 15 drop from $186.59 brought Ether price below the ascending trendline and below the…

Stablecoins ‘Pose Risk to Financial Stability’ Warns Federal Reserve

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Stablecoins could “complement” other payment systems and improve conditions for consumers, but need constant checks, says the United States Federal Reserve. In its November 2019 Financial Stability Report released on Nov. 15, the Fed highlights stablecoins and their potential impact on the U.S. and beyond. Fed: Unregulated stablecoins “pose risks” Rather than dismissing the phenomenon, officials eye potential use cases for the future but insist any stablecoin must adhere to regulatory demands.  “Innovations that foster faster, cheaper, and more inclusive payments could complement existing payment systems and improve consumer welfare…

These 4 Facts Show How ‘Boring’ Bitcoin Is Crushing the Stock Market

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Analytics company Blockforce Capital published the October edition of its in-depth crypto markets overview on Nov. 11. Packed with information, the report provides a surplus of data on the overall state of the cryptocurrency markets, noting that Bitcoin (BTC) still outpacing traditional markets. Bitcoin gets boring in November but… November has thus far been rather uneventful if not boring with regards to price action. However, Bitcoin has had an eventful October. Last month started off slow but ended with Bitcoin skyrocketing from $7,300 to $10,500.  Shortly after, the asset quickly…

Artificial Intelligence Will Enable the Future, Blockchain Will Secure It

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Speaking at BlockShow Asia 2019, Todalarity CEO Toufi Saliba posed a hypothetical question to the audience: “How many people would take a pill that made you smarter, knowing they can be controlled by a social entity?” No one raised their hand, and he was unsurprised. “That’s the response that I get, zero percent of you,” he continued. “Now imagine at the same time the pill has autonomous decentralized governance so that no one can control or repurpose that pill but the host – yourself.”  This time hands were raised in…

Bitcoin Cash Hard Fork Sees Miners ‘Waste’ Money on 14 Invalid Blocks

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Bitcoin Cash (BCH) miners appear to have wasted money mining 14 blocks on the wrong chain after the altcoin underwent a hard fork.  According to data from monitoring resource Fork Monitor on Nov. 15, Bitcoin Cash, which itself forked off from Bitcoin (BTC) in 2017, successfully split in two once again on Friday. BitMEX: Miners are “wasting resources” Despite being broadly cleaner than its previous hard fork attempts, it soon became apparent that a large section of miners had not upgraded to the new chain.  In total, miners spent resources…