Day: July 21, 2020

Bitcoiners Are Not Looking for a Store of Value, Gold Bug Peter Schiff Says

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A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one of the most commonly touted use cases surrounding the coin.  “I buy gold as a way to store my wealth, as a conservative place to keep liquidity, as opposed to keeping it in dollars or some other fiat currency,” Schiff told interviewer Peter McCormack, host of the What Bitcoin Did podcast, during a July 17 episode. “I do think that when people are buying Bitcoin, they’re…

Bitcoiners Are Not Looking for a Store of Value, Gold Bug Adam Schiff Says

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A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one of the most commonly touted use cases surrounding the coin.  “I buy gold as a way to store my wealth, as a conservative place to keep liquidity, as opposed to keeping it in dollars or some other fiat currency,” Schiff told interviewer Peter McCormack, host of the What Bitcoin Did podcast, during a July 17 episode. “I do think that when people are buying Bitcoin, they’re…

Grayscale Moves to List Bitcoin Cash and Litecoin Trusts for OTC Traders

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Grayscale Investments has announced that its digital asset funds Bitcoin Cash Trust and Litecoin Trust have cleared a regulatory hurdle in their march to begin being quoted on over-the-counter markets. Nikhilesh De contributed reporting Disclosure 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 blockchain startups. Original

China Considers Implementing Blockchain Tech in Equity Trading Centers

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The China Securities Regulatory Commission, or CSRC, recently issued a letter approving five regional equity markets. They will include equity centers in Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen. These and other regions received authorization to begin experimenting with a blockchain pilot in early July. Blockchain and equity trading According to Beijing Local Financial Supervision and Administration, the next step for the CSRC is to guide Beijing Equity Trading Center to carry out the blockchain pilot. The trading center in Beijing has allegedly built a “relatively perfect infrastructure” for equity registration,…

Bitcoin Will “Bring Pain” to Altcoins as It Recaptures Market Dominance

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Bitcoin has seen some notable upside today that has put a firm end to its multi-week bout of trading between $9,000 and $9,300. The cryptocurrency is now flashing some signs of strength as buyers attempt to propel it past its crucial near-term resistance at $9,500. It appears that this latest movement higher has come about as a result of investors rotating their altcoins profits into BTC, as most of the benchmark cryptocurrency’s smaller counterparts are starting to reel lower. Although it remains a speculative possibility, today could mark a shift…

Market Wrap: Bitcoin Briefly Pops Above $9,400 as Global Stocks Rally

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Bitcoin hit its highest price point in almost two weeks as stocks climbed. Bitcoin (BTC) trading around $9,371 as of 20:00 UTC (4 p.m. EDT). Gaining 2.2% over the previous 24 hours. Bitcoin’s 24-hour range: $9,149-$9,439 BTC above 10-day and 50-day moving average, a bullish signal for market technicians. Bitcoin trading on Coinbase since July 19.Source: TradingView Bitcoin stakeholders were delighted to see green flashes on their screens next to the world’s oldest cryptocurrency Tuesday.  Prices on the world’s most valuable cryptocurrency went as high as $9,439 around 7:00 UTC…

Analyst Who Predicted Bitcoin’s 40% October Rally Warns of BTC “Head Fake”

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Bitcoin price this morning broke through a short-term downtrend line making up the top of a symmetrical triangle pattern. The currently unconfirmed breakout also caused the “first lift” in the Bollinger Band squeeze resulting from dwindling volatility. This lift is normally a sign of the Bollinger Bands expanding and an explosive move beginning. However, the technical indicator’s creator and financial analyst John Bollinger, is warning of a potential “head fake” in BTCUSD. The last time the analyst made such a call, a historic, record-setting 40% pump followed. Lift Begins In…

Over 7M Americans Own BTC But Hold None In Retirement Accounts

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Ryan Radloff, CEO of custody solution Kingdom Trust, recently explained a vast number of Americans do not hold Bitcoin (BTC) in their retirement accounts.  “There’s 7.1 million Americans that have already made the leap to buy Bitcoin or take the dive into our industry so to speak, and have a retirement account, but don’t have Bitcoin in their retirement account,” Radloff told Morgan Creek Digital co-founder Anthony Pompliano in a July 18 interview.  People have more to spend on Bitcoin in their retirement accounts Retirement accounts allow the public to…

Ethereum ‘Flippens’ Stablecoins to Become the Most Used Blockchain

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For the last month Bitcoin (BTC) price has traded in a tight range and trading volume has been relatively flat. Meanwhile, several tokens on the Ethereum network have been topping the price charts, especially the Decentralized Finance (DeFi) tokens. New data from Messari shows that Ethereum has just surpassed Bitcoin as the network that settles the most value per day. This means that the dollar value on the transactions of both Ether (ETH) and its tokens is now higher than that of Bitcoin. Ethereum vs Bitcoin daily settlement value. Source:…

Why Did LocalBitcoins Give Up Their Users’ Privacy?

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Elena Tonoyan, the COO at LocalBitcoins, explains how the oldest peer-to-peer Bitcoin exchange has been stepping up the fight against criminal activities on the platform. As of 2019, LocalBitcoins has been cited as the exchange receiving the most criminal funds for three years in a row, according to a report by CypherTrace. The results for 2020 will be much different, assures Tonoyan, referring to the stringent KYC/AML procedure adopted by the exchange in September last year. Results already appear to be visible. Citing recent data, Tonoyan claims that volumes sent…