Day: December 18, 2019

Whiplash: Bitcoin Slides Below $6,500, Surges Above $7,100 in 8-Hour Span

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Bitcoin traders might need a neck brace right now. That’s because the price of the cryptocurrency took a sharp U-turn in the course of trading on Wednesday. The day started quite dreary for HODLers. Candlesticks slowly and solemnly strode across the bitcoin chart in the upper half of the $6,000 range for much of the early morning hours. Then, at precisely 7:51 a.m. ET, as New York traders were sitting on their desks and sugaring their coffees, another selloff began. On Binance, the largest BTC market, 1,000 bitcoins changed hands…

Oil and Gas Consortium Is 1st to Apply DLT to Industry Balloting

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A group of 10 major global oil and gas firms including heavy-hitters like Chevron and Shell has successfully digitized industry balloting using blockchain. The Oil & Gas Blockchain Consortium (OOC) successfully piloted a blockchain-based system for Authorization for Expenditure (AFE) balloting in partnership with Canadian technology provider GuildOne. According to an announcement on Dec. 18, the AFE balloting proof-of-concept (PoC) is the first initiative of its kind and intends to allow participants to send ballots and make elections digitally using blockchain technology. Digitizing conventional paper-based processes As noted in the…

US SEC Looks to Expand ‘Accredited Investor’ Classification

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The United States Securities Exchange Commission (SEC) has announced that it is looking for ways to expand the classification of “accredited investor,” with potentially major implications for capital formation of firms hesitant to meet full public reporting requirements. The amendments and who gets to be accredited Per a Dec. 18 announcement on the SEC’s website, the regulator is looking for public commentary on amendments to its category of accredited investor. Currently, the SEC’s language defines an accredited investor as an individual with a net worth of over $1 million or…

Bitcoin Stuns Bears — Soars $800 Back Over $7K to Fill Futures ‘Gap’

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Bitcoin (BTC) price is currently in the process of a strong reversal, which has seen the digital asset quickly recover 8.16% to trade slightly above $7,200.  On Dec. 17 the digital asset broke below the $6,800 support level and swiftly commenced a tumble to the $6,450 support where it bounced of the lower support of the long-term descending channel.  Many analysts cautioned that if bulls failed to buy into the dip, a price drop below the $6,400 increased the possibility of a revisit to $5,500 to $5,350. Fortunately for bulls,…

Presenting CoinDesk’s Most Influential 2019

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One of the great things about reporting on the blockchain/crypto industry is the infinite variety of interesting, smart people doing bold, crazy things. From daring entrepreneurs and builders, to inspired thinkers and communicators, this space has no shortage of colorful characters pushing the envelope. It’s in this spirit that we present this year’s Most Influential, a selection of people who did exceptional things in 2019. Whether it was Caitlin Long establishing Wyoming as the “blockchain state,” or Rune Christensen corralling MakerDAO, or David Marcus launching Libra, these people made an…

US SEC Imposes $250,000 Penalty, Requires Return of up to $13M for Unregistered ICO

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The United States Securities and Exchange Commission (SEC) has reached a settlement with New York-based startup Blockchain of Things Inc. (BCOT) for conducting an unregistered initial coin offering (ICO). On Dec. 18, the SEC announced in a press release that the charges were settled in the form of an order that requires BCOT to cease and desist from committing any violation of the registration provisions of the federal securities laws. The blockchain company also agreed to pay a $250,000 penalty, without admitting or denying the findings. According to the SEC’s…

‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019

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From “digital gold” to “stacking sats” to “ETH is money,” 2019 was a year of narrative battlegrounds and meme warfare. And when every narrative is competing for scarce resources and attention, things are sure to get contentious. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source If You Liked This Article Click…

‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019

boss

From “digital gold” to “stacking sats” to “ETH is money,” 2019 was a year of narrative battlegrounds and meme warfare. And when every narrative is competing for scarce resources and attention, things are sure to get contentious. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source

The Year of the Patient Builder and the Persistent Bully

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This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Trent Larson is a software developer in the blockchain industry. These opinions are his and do not necessarily reflect the views of his employer or family. (However, there are many humans who do share these opinions.) 2019 was the year of The Patient Builder and The Persistent Bully. After the exuberance of 2017 with bitcoins selling for nearly $20,000, businesses and ICOs came out…

Non-Economical Reasons Motivate Bitcoin SV Miners

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The motivation driving Bitcoin SV (BSV) miners is non-economic in nature, according to a report released by major cryptocurrency exchange Binance on Dec. 18. Binance Research, the exchange’s research arm, has tried to estimate mining profitability for Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV. Interestingly, the calculations included in the report suggest that BSV miners incurred significant losses and consequently concluded that the miners are not profit-driven. Per the report, from November 2018 to August this year BSV mining profitability was lower than BTC and BCH mining profitability. According…