March 24, 2020

‘Only Fools are Choosing Bitcoin’ Says Gold Bug Peter Schiff

March 24, 2020 boss

“Only fools are choosing Bitcoin” over gold, according to renowned gold proponent Peter Schiff. In a March 24 tweet, Schiff expressed his negative view of the intellectual capabilities of Bitcoin (BTC) investors. He wrote: “Only fools are choosing Bitcoin. So far this year gold is up over 7%, while Bitcoin is down 3%. Gold is only 2% from its 2020 high, while Bitcoin is 35% below its 2020 high!” Schiff also pointed out that during the 2008 financial crisis, gold fell by about 25% and reached a new high in…

Why India Has the Potential to Lead the P2P Finance Revolution

March 24, 2020 boss

India’s cryptocurrency ecosystem has been in limbo since the country’s central bank barred banks from dealing with cryptocurrency exchanges in 2018. As of March 4, the Supreme Court of India has done away with those restrictions on crypto, allowing the second-most populous country — and the most populous democracy — a path to digital-currency freedom. The lifting of the ban by the Supreme Court will open new opportunities for India in terms of investments, the economy and the market as a whole. After the Reserve Bank of India restricted financial…

Your Favorite Privacy-Minded Browser Is Teaming Up With Binance

March 24, 2020 boss

Brave has partnered with Binance to bring in-browser crypto trading to its 13 million users. The Binance Widget allows Brave users to make crypto trades without leaving the browser. Branden Eich, CEO of Brave Software explained the rationale behind this partnership in an interview with Cointelegraph: “Our focus has always been on our users. This time, it’s about making crypto more usable by more people. We already have 1.6 million users who are crypto-savvy, they have signed up for the BAT Rewards Program; now they’ll be able to make crypto…

Both Kik and SEC Seek Summary Judgement in $100 Mln ICO Case

March 24, 2020 boss

Canadian messenger firm Kik is seeking pre-trial summary judgment in its legal dispute with the United States Securities and Exchange Commission (SEC) over the company’s $100 million initial coin offering (ICO) in 2017. On March 20, Kik submitted a memorandum of law requesting the summary judgment from the court, asserting that the SEC had failed to demonstrate that its KIN tokens comprised unlicensed securities. Kik expects legal victory with summary judgment Referring to its public sale as a token distribution event (TDE) rather than an ICO, Kik argues that its…

Bitcoin Price Gains 7% in 24 Hours as Wall Street Bets on $2T Bailout

March 24, 2020 boss

Bitcoin (BTC) jumped over $100 as Wall Street opened on March 24, markets broadly gaining amid hope of the United States agreeing a $2 trillion coronavirus rescue package. Cryptocurrency market daily overview. Source: Coin360 BTC price steadies as stocks bounce Data from Coin360 and Cointelegraph Markets showed BTC/USD circling $6,700 at press time on Tuesday — up 7% on the day. Stock markets reversed Monday’s losses — the Dow Jones opened up 6.1%, while the S&P 500 was 5.3% higher. Bitcoin 1-day price chart. Source: Coin360 The week had begun…

YouTube Scam Impersonates Ripple CEO Garlinghouse for Fake XRP Airdrop

March 24, 2020 boss

Despite YouTube’s many aggressive actions against cryptocurrency-related content, the world’s most popular video-hosting website is apparently having trouble discovering a major scam account involving crypto. On March 23, the crypto community spotted a bogus YouTube account impersonating Brad Garlinghouse, CEO of major blockchain company Ripple, in order to promote a fake airdrop scam. Video containing fake XRP airdrop description was uploaded on YouTube on March 19 The apparent scam account has around 277,000 subscribers and contains only one video, which promotes a fake giveaway in the third-biggest cryptocurrency, XRP. Uploaded…

Russian Ministry Wants to Test Crypto and Blockchain in Regulatory Sandboxes

March 24, 2020 boss

Amid regulatory uncertainty for cryptocurrencies in Russia, a federal ministry introduced legislation that would legalize crypto and blockchain within a special regulatory environment. The Ministry of Economic Development of the Russian Federation has reportedly prepared a draft law that would allow the testing of cryptocurrency and blockchain developments within a special regulatory sandbox. Sandbox to unlock blockchain and crypto testing in eight industries According to a March 24 report by local news agency Izvestia, the draft law was introduced to the State Duma — the lower house of the Federal…

Crypto Mining Crunch Time – Bitcoin Halving Less Than 50 Days Away While Global Economy Shudders

March 24, 2020 boss

On or around May 13, the BTC network will see a block reward reduction as miners will go from getting 12.5 coins per block to 6.25 coins following the halving. The last time the protocol’s block reward halved was on July 9, 2016, and the global economy looked a whole lot different back then. This time around, while BTC miners see reward reductions the world’s financial system has been crumbling and the digital asset’s value is much lower than it was four weeks ago. Also read: Countdown to Block Reward…

Alipay Patents Reveal More Details About China’s Forthcoming CBDC

March 24, 2020 boss

In the past month, Chinese payments platform Alipay has disclosed a number of patents relating to and revealing more details of China’s planned central bank digital currency (CBDC), the digital yuan. According to a report in local media outlet Interchain Pulse on March 23, Alipay is set to play an integral part in the major functions of the currency when it is launched. Alipay to be a secondary issuer of China’s CBDC The first patent, published Feb. 21, revealed that Alipay is likely to be involved as a third-party operating…

Alipay Patents Reveal More Details About China’s Forthcoming CBDC

March 24, 2020 boss