Day: March 13, 2020

Bitcoin Bottomed in ‘Final Capitulation’ but $5K Dip Likely: Tone Vays

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Bitcoin (BTC) likely bottomed when it hit $3,700 this week but will likely dive below $5,000 one more time, says Tone Vays. In the latest edition of his Trading Bitcoin YouTube series on March 13, the veteran trader described the week of mayhem for Bitcoin which culminated in 60% daily losses as the capitulation he’s been waiting for. Vays: “All signs point to final capitulation” Introducing the episode on Twitter, he summarized: “All Signs Point to this being the final capitulation of the 2 year Bear Market.” Traditionally conservative about…

Coronavirus Crashes Crypto – Blockchain News

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Sharing is caring! The cryptocurrency market has had an apocalyptic crash over the past 48 hours, with the coronavirus Covid-19 triggering a massive selloff in global markets.   According to writer Trevor Smith at Bitcoinist.com, a massive dump by Plus Token scammers kicked off the crash after dumping 13,000 Bitcoin over the weekend which sparked the initial sell-off. Plus Token closed down the operation in June of 2019 withdrew over $3 Billion dollars in Cryptocurrencies (Bitcoin, Ethereum and EOS) and left the message, “Sorry we have run“.  Bitcoin lost half its…

Blockchain Africa Conference Showcases How Tech Can Change the Continent

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Impressive use-cases of blockchain technology have come to the fore after the conclusion of the 2020 Blockchain Africa Conference in South Africa. The event went ahead as planned in early March despite the global coronavirus pandemic that has made headlines around the world. The viral outbreak led to keynote speaker Charles Hoskinson, founder of Cardano, cancelling his trip to South Africa due to travel restrictions. The event also suffered a drop-off in attendance due to fears around the virus, but there were still over 230 delegates present on day one…

Council employee fined £400 for illegally deleted audio file

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A council employee has been fined £400 for an offence under the Freedom of Information (FOI) regulations. Nicola Young, town clerk of Whitchurch Town Council, was convicted under Section 77 of the Freedom of Information Act (FOIA) of deliberately obstructing records with the intent to prevent disclosure. As part of her responsibilities as town clerk, Young was entrusted with the role of ‘proper officer’ whose responsibility it is to handle FOI requests to the council. One such request was submitted by an individual who asked for a copy of the…

CoinDesk Takes Consensus 2020 Virtual

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With the COVID-19 pandemic worsening throughout the world, CoinDesk is taking immediate action on Consensus 2020. As the organizers of Consensus and Blockchain Week NYC, our goal has always been to bring the community together to educate, grow, and create meaningful connections in a safe location. It is no longer possible to do that in a physical location.  Nonetheless, we are seizing an opportunity to make the most of this otherwise extremely difficult situation. Consensus 2020 will now be a completely virtual experience, where attendees from all over the world…

Crypto Lending Firm Blockfi Adds Support For Buying Cryptos With Cash

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Cryptocurrency-backed lending startup Blockfi added support for buying cryptocurrencies such as Bitcoin with cash on the platform. The purchase can be made by sending cash through wire transfer. Blockfi said the customer can send US Dollar wires to the platform to purchase stablecoin in the form of Gemini Dollars (GUSD), and begin earning up to 8.6 percent on USD-denominated assets. Currently the default Stablecoin for BlockFi Wire purchases is GUSD, each of which is backed by one USD. The USD deposit will appear in the form of GUSD in the…

Ethereum Co-Founder Pronounces 20th Century World Order Dead

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Ethereum co-founder and founder of Cardano, Charles Hoskinson, pronounced “the economic order of the 20th century” dead in a recent YouTube livestream.  By “the economic order of 20th century”, Hoskinson means a centralized hierarchical economy that was built through “a series of treaties” made by a few great powers, this economy was built for the times  “when information was not instantaneous”, and when most people were willing to accept “big brother’s” dictum. Hoskinson said that the recent market downturn was caused by the incongruence of the hierarchical order created by…

Bitcoin Paints V-Shape Recovery after Crashing to $3.8K; More Pain Coming?

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Highlights: Bitcoin plunges to $3.8K for the first time since April 2019. The cryptocurrency’s deep dive came alongside a massive liquidation spree on the BitMEX crypto exchange. The price recovered by $2,000 but left the market in further distress, especially amidst the rising Coronavirus risks on global financial markets. Bitcoin fell to its 10-month low this Friday the 13th as liquidation went rampant on crypto derivatives exchange BitMEX. Sam Bankman-Fried, the CEO of Hong Kong-based crypto derivatives exchange FTX, alleged that BitMEX failed to liquidate an adequate number of bitcoin tokens…

DeFi Skepticism, Decentralization, Tax Define London Blockchain Week

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The final stage of London Blockchain Week looked as if it would be the latest victim to the coronavirus crisis. Many of the events that had initially been set to take place physically were held online. Others were canceled outright. But the jewel in the crown of blockchain week in London, CryptoCompare’s Digital Asset Summit, went ahead as planned.  Rumors swirled that there would be poor attendance and mass dropouts from panelists. Many of the week’s previous events had suffered from coronavirus fears, and venues were often half-empty. The massive…

CFA Franc Collapse and Eco Inadequacy

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It has been nearly two decades since the world saw the introduction of a new multinational currency bloc that would alter the balance of global power. Just like the euro, a new currency is taking shape that can compare in scope and vision. Only this time, it’s happening in Africa, and shockingly it’s not digital. The West African Monetary and Economic Union state countries are currently in transition to adopt a new currency that will be used in a single market across a dozen or more West African countries —…