February 27, 2020

Lebanon Fights for Separation of Money and State as Residents Use Bitcoin to Evade Capital Controls

February 27, 2020 boss

Mass unrest in Lebanon due to allegations of political corruption and heavy handed capital controls has carried over into the new year, with reports pointing to a notable uptick in bitcoin trading from the embattled nation. As residents seek to preserve as much value as they can while government falters, some traders are calling for a separation of money and state, thinking it is high time to put financial power back into the hands of the people. Also read: Bank Closures and Withdrawal Restrictions Anger Lebanese Citizens Mass Unrest Over…

You Won’t Like Square Enix’s PS5 and Xbox Series X Plans

February 27, 2020 boss

You Won’t Like Square Enix’s PS5 and Xbox Series X Plans Square Enix, the studio behind games like Tomb Raider, won’t be developing exclusive next-gen PS5 and Xbox Series X titles from scratch. Published: February 27, 2020 7:26 AM UTC New Square Enix games will be optimised for both current and next-generation consoles for a while yet. | Source: Shutterstock.com Square Enix has confirmed that it doesn’t have any plans to make games that are only available on PS5 and Xbox Series X. Any Square Enix games exclusively available for…

You Won’t Like Square Enix’s PS5 and Xbox Series X Plans

February 27, 2020 boss

Price of Bitcoin Drops After $150 Million Liquidated on BitMEX

February 27, 2020 boss

Today the cryptocurrency market saw a huge drop in the price of Bitcoin (BTC). According to the data analytics provider Skew on Feb. 26, over $150 million worth of Bitcoin was liquidated on the trading exchange BitMEX, the most seen since the new year began. Millions of dollars of long and short positions caused the value of the cryptocurrency to fall to $8,580, a decrease of more than 6%. $150mln+ liquidations on BitMEX today – highest in 2020 pic.twitter.com/WO7aKyNhcI — skew (@skewdotcom) February 26, 2020 Though the price of Bitcoin…

Everyone Should Have 1% of their Assets in Bitcoin

February 27, 2020 boss

Chamath Palihapitiya, the billionaire chairman of spaceflight company Virgin Galactic, has recommended that everyone hold Bitcoin (BTC) as a form of crisis insurance. Speaking on CNBC’s Squawk Box, Palihapitiya said he believes that “everybody should probably have 1% of their assets in Bitcoin.” Palihapitiya said that Bitcoin comprises a “fantastic hedge,” as every other financial instrument is correlated […] except Bitcoin, which is fundamentally uncorrelated.” “When you see the amount of leverage the financial industry is running, and you think about all these dislocations and all these exogenous things that…

Iranian General Calls for use of Crypto to Evade Sanctions

February 27, 2020 boss

This week an Iranian general called for a unique way to bypass the sanctions on his country enforced by the United States. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps, called for Iran to use cryptocurrencies to evade the economic sanctions. According to the Telegram channel of Coinit.ir, a crypto news organization based in Iran, the general addressed a crowd on Feb. 26 (translated from Farsi): “We are demanding the creation of a more sophisticated mechanism to bypass sanctions. To circumvent sanctions, we must develop solutions such as the…

Sorry Bears, Bitcoin Daily Chart Suggests a Strong Bounce Is More Likely

February 27, 2020 boss

Bitcoin started a major downside correction from the $10,521 yearly high against the US Dollar. BTC price declined below $9,000, but it is still in a larger uptrend above $8,000. Bitcoin started a major correction from well above the $10,000 level against the US Dollar. The price is down more than 15% from the high and it recently traded below $9,000. There was a break below a key bullish trend line with support at $9,580 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair is…

Dow Futures Collapse as Trump Fails to Calm Coronavirus Alarm

February 27, 2020 boss

Dow Futures are down despite Trump’s call for calm in the markets. As the presidents remarks become increasingly divorced from reality, investors seem to be ignoring his commentary. Is Covid-19 the needle that pops Trump’s massive stock market rally? U.S Markets may crater when trading opens on Thursday as the United States confirms its first case of coronavirus with no direct link to China. The disease, which is now spreading rapidly around the globe, has infected over 82,000 people and killed 2,800. Dow futures are down 1.01%. S&P and NASDAQ…

Bitcoin Erases February’s Gains, BTC Price Sinks Below $8,700

February 27, 2020 boss

The sharp correction that has rocked the crypto market since Feb. 23 continued through Feb. 27 as Bitcoin (BTC) price dropped nearly 8% to a daily low at $8,531. Markets pricing in Coronavirus impact At the opening bell, equities markets recovered some of the losses of the previous two days but at the time of writing Dow Jones futures, S&P 500 futures and Nasdaq futures all dropped 1.32%, 1.33% and 1.31%, respectively, with investors increasingly concerned about the economic impact of the Coronavirus, which is now present on every continent…

Ethereum Community Comes out Against Controversial ProgPoW

February 27, 2020 boss

Opposition continues to grow against implementation of the controversial Programmatic Proof-of-Work (ProgPoW) proposal in the Ethereum community. ProgPoW is an ASIC-resistant PoW algorithm meant to replace ETHhash, the current hashing algorithm for the platform. First mooted two years ago, it suddenly reemerged as a concrete plan set for the middle of this year following a call of core developers on February 21. Leading stakeholders filed a petition on Github on Feb. 26 to register their disapproval with the decision. Authored by ETHBoston Organizer Justin Leroux, the petition claims the change…