Ryan Sean Adams, founder at Mythos Capital, made a case for a trillion dollar Ethereum market cap. And it’s all about decentralized finance (DeFi). DeFi refers to decentralized applications or platforms that allow investors to engage in traditional financial services by using Ethereum as collateral. Users can receive loans, trade derivatives, make payments, and more in a peer-to-peer manner without centralized entities. The trillion dollar case for ETH A bullish case for ETH as economic bandwidth powering a trustless economyhttps://t.co/fbzClLCAVi@0x_Lucas crushed it on this thought experiment Thread: — Ryan Sean…
Day: January 20, 2020
London-Listed Argo Blockchain Reports 10-Fold Increase in Bitcoin Mining Revenue in 2019
Bitcoin mining form Argo Blockchain says it took 10 times more revenue in 2019 than in the previous year. In a press release posted on the London Stock Exchange website on Monday, Argo said, for its first full year of operations, it generated £8.5 million (just over $11 million) in revenue, compared with £760,000 ($985,720) in 2018. The firm listed on the main Market of the London Stock Exchange in August 2018. The figures are unaudited, with the firm expecting to file audited earnings in April. According to the announcement,…
Bitcoin, Ether, and XRP Weekly Market Update January 20, 2020
The total crypto market cap added $20.2 billion to its value for the last seven days and now stands at $237.1 billion. The top 10 currencies were all in green for the same time frame with Bitcoin SV (BSV) and Bitcoin Cash (BCH) being the best performers with 63 and 24 percent of gains respectively. By the time of writing bitcoin (BTC) is trading at $8,635 while ether (ETH) moved up to $164. Ripple’s XRP is trading at $0.231. BTC/USD Bitcoin moved up to $8,185 on Sunday, January 12 and…
Libra Professes Independence from Facebook with Own 5-Member Committee
With what appears a great sense of fulfillment, Facebook’s Libra team has announced that an independent committee, tagged the Technical Steering Committee (TSC), has been formed within the organization to oversee technical activities in Libra. Speaking for the Libra Association, Micheal Engle, writes that the Libra Association is poised to reassure regulators and the genera public that the Libra cryptocurrency project is, in fact, independent of any organization. As opposed to the general belief that Libra would be monetize and managed solely by Facebook, the recent blog post from the…
Peter Schiff Lost Bitcoin after His Crypto Wallet Failure
An outstanding American investment broker and Euro Pacific Capital CEO Peter Schiff has lost Bitcoin. The loss resulted from the failure of his crypto wallet. On Sunday, Schiff wrote on his Twitter account his password was no longer valid. I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was…
How Is the Biggest CO2 Polluter Becoming Leading World Solar Panels Producer
Society is now witnessing the implementation of digital currencies, AI and blockchain technology worldwide. These new digital technologies require a high consumption of electric energy, which is currently produced with coal and fossil fuels that adversely impact the environment. A global shift toward green energy will require the removal of the technological, infrastructural, regulatory and tax policy barriers. In a series, my articles evaluate the tax, digital technology and solar policies (including space power satellites) of the top-CO2-emitting countries. For the last three decades, China has been on an economic…
ASIC Gives Australian Fintech Firm the Nod to Launch Bitcoin Fund
The Australian Securities and Investment Commission (ASIC), the nation’s financial watchdog, has given the Raiz micro-investing app, the approval to add a Bitcoin fund to its list of investment services. Raiz says it would invest 95 percent of clients’ money in exchange-traded funds (ETFs), while the remaining 5 percent will be pumped into bitcoin (BTC), according to a Micky report on January 20, 2020. Australia Gets First Functional Bitcoin Fund Raiz Invest Australia was launched in 2016 as Acorns. It has now been given the chance to launch a Bitcoin…
Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue
China-based RenrenBit, a peer-to-peer cryptocurrency lending and wallet startup, has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019. The startup, founded by well-known Chinese over-the-counter trader Zhao Dong, who’s also an investor in Bitfinex and Binance, published an unaudited income statement on Monday as part of its commitment to revealing financial data when it raised $21 million in a token sale last year. In addition, the 35-member team posted an unaudited balance sheet that shows, as of Dec. 31, it was holding about $168…
Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue
China-based RenrenBit, a peer-to-peer cryptocurrency lending and wallet startup, has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019. The startup, founded by well-known Chinese over-the-counter trader Zhao Dong, who’s also an investor in Bitfinex and Binance, published an unaudited income statement on Monday as part of its commitment to revealing financial data when it raised $21 million in a token sale last year. In addition, the 35-member team posted an unaudited balance sheet that shows, as of Dec. 31, it was holding about $168…
The Same Indicator That Flashed Before Bitcoin’s 30% Drop in Nov 2019 Just Hit Again
The Fear and Greed Index (FGI) for crypto is currently neutral at 53. The last time it was at this level, a 30 percent drop occurred for bitcoin in November 2019 from $9,400 to $6,410. The signaling of the indicator follows a swift six percent drop from $9,100 to $8,500, which happened in less than five minutes. Scenario for a significant pullback in the short-term Since late last month, the bitcoin price has increased from $6,410 to $9,200. It achieved a 42 percent rally within 33 days, recording such a…