Last Wednesday, the founder of the mining operation Btc.top announced a proposal that would fund Bitcoin Cash (BCH) development over the course of six months. Over the last five days, the funding plan has been the most dominant conversation within the BCH ecosystem, as supporters debate the merits of the miner’s proposal. This week, BCH community members heard from the developer Imaginary Username, Bitcoin Unlimited’s Peter Rizun, and an opposing mining operation that dislikes the funding plan’s details. Also Read: Bitcoin Cash Miners Plan $6M Development Fund by Leveraging Block…
Day: January 27, 2020
Crypto News Roundup for Jan. 27, 2020
Whether you’re a first-time listener or you’ve heard every episode, we’d like to know what you think about the show. What do you like? What don’t you like? What do you think we’ve totally missed but should be talking about every day or at least every week? 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…
Bitcoin Breaks 7-Month Downtrend But Must Clear These Hurdles to $10K
The price of Bitcoin (BTC) found strong support at $8,200 last week, after which it started to rally toward $8,800 earlier today. Alongside with that, the total market capitalization of crypto found a support at $215 billion and starting to look bullish. Will this mean that the correction is over, and crypto is trending upwards? Crypto market daily performance. Source: Coin360 Bitcoin still in an uptrend since the low at $6,500 Bitcoin is still trending upwards since the low at $6,500, as previous resistance zones have become support. A recent…
Twitter’s Jack Dorsey May Help Bitcoin Price Drive to $100,000
Engineers from Square Crypto want to build a product that will make LN integration easier for the wallet developers. Whether Lightning Network is a good scaling solution or not is defined by adoption rates. So far, it is used mostly by the exchanges and people directly supporting Bitcoin Core. However, Twitter CEO Jack Dorsey thinks that development (and adoption) must flow faster. His revolutionary solution is called Lightning Development Kit (LDK) and is a creation of Jack’s new company. It has already obtained a license on operating as a crypto-to-fiat…
Russian State-Run Tech Firm to Decrease Spending on Blockchain by 50%
Russian government-backed corporation Rostec intends to cut spendings on the blockchain development in the country by at least 50%. According to Rostec’s roadmap, the organization is planning to spend 28.4 billion rubles ($453.2 million) on the development of blockchain technologies in Russia by 2024, instead of initial 55 billion ($877.8 million) to 85 billion rubles ($1.3 billion). The news was reported by domestic news outlet Kommersant on Jan. 27. The corporation detailed that the introduction of blockchain tech into the product labeling system will require 650 million rubles ($10.3 million),…
If You’re a Millennial, Buy Bitcoin
Billionaire investor Tim Draper recommended millennials buy Bitcoin (BTC) during an interview with FOX Business published on Jan. 22. Per the report, Draper believes that Bitcoin is of particular importance to millennials that are looking to set aside enough capital for retirement. He suggested that the traditional banking system is outdated: “You look at Bitcoin and you say ‘Hey, this is great because it’s not my father’s Oldsmobile. Our banking system is the Oldsmobile, is the old Oldsmobile.’” The faults of the banking system Draper also blamed traditional finance for…
Bitcoin Halving Is Getting Closer Boosting Interest, Will BTC Price Rise?
Set for 12 May 2020, the Bitcoin halving is just 105 days away. Bitcoin price is steady at 8K-9K level. However, we should note that the same figure was named last week. Despite the fact that time is going forward, the halving event is not getting closer according to popular countdowns. It may be evidence of the decreased hash rate. Arcane Research, a Norwegian Cryptocurrency analytics company, published a study showing the growing demand among people who search in Google for ‘bitcoin halving’. Google Trends shows that people are doubling…
Bitcoin Ducks Deep Pullback against Euro and One Strong Fundamental Could be Behind It
Bitcoin is looking attractive against the Euro as the European Central Bank signals it will leave negative rates intact. The bitcoin-to-euro exchange rate on January 24 ducked a deep downside attempt after bouncing back from its local support of €7,4577.77. The latest move uphill took the pair up by 6.20 percent, indicating that bulls are still in charge of the bias in euro-denominated markets. The BTC/USD bidding rate is showing an interim recovery | Source: TradingView.com, Coinbase Bitcoin’s bounce against the Euro also followed its supersonic growth in the last…
Israel’s Securities Regulator Asks Private Sector for DLT Proof-of-Concepts
The Israel Securities Authority (ISA) intends to draft regulation for distributed ledger technology-backed (DLT) digital asset exchange platforms, according to ISA Chair Anat Guetta. ISA unveiled the plan at a Jan 20. conference near Tel Aviv, announcing that it seeks to offer a “a complete digital value chain for investors:” digital assets registered, traded and settled using DLT. It is now calling on the private sector to pitch the regulator with proof-of-concept DLT trading systems. “After this stage is concluded, we will create relevant regulation that will make it possible…
Iranian Authorities Have Issued 1,000 Licenses for Cryptocurrency Mining
Iran’s Ministry of Industries, Mining and Trade has issued over 1,000 cryptocurrency mining licenses to domestic operations. According to a report published on Jan. 24 by Iran’s Banking and Economic System Reference Media (IBENA), a member of the Information and Communications Technology (ICT) Guild Organization’s blockchain commission, Amir Hossein Saeedi Nai, informed the public of the number of licenses issued. He explained that before launching a mining operation in the country, entrepreneurs must apply for a license, adding that the government has issued over 1,000 permits so far, and several…