As the COVID-19 pandemic swept across the globe, history seemingly repeated itself as familiar public health strategies were gradually implemented from one jurisdiction to the next. From recommendations of social distancing to lockdowns, such measures have disrupted even the most benign day-to-day activities, prompting small but meaningful changes in how we work, live, pay and play. From QR code payments to mobile wallets, the appeal of cashless payment methods has increasingly been institutionalized even in Southeast Asian markets where cash has historically reigned as king. The move is promising, considering…
Day: July 25, 2020
Tron Obstructed Legitimate Attempts to Claim Its $1 Million Twitter Hack Bounty
There is more to Tron’s bounty on the Twitter hackers than the company is willing to talk about. An anonymous source contacted this Cointelegraph reporter, asking to be put in touch with Tron to collect the company’s $1 million bounty for identifying the people responsible for last week’s Twitter hack. Cointelegraph extended the courtesy of connecting this source with Tron after examining the highly credible evidence that was on offer. It was surprising to then observe Tron representatives make every excuse to avoid a source who had come forward with…
S&P 500 Falls while Gold Price Breaks Records on U.S.-China Tensions
The compounding economic uncertainty due to the rising COVID-19 cases and the growing tensions between the U.S. and China have caused the gold price to soar higher taking them at their record-high levels of 2011. On Friday, July 24, the S&P 500 (INDEXSP: .INX) closed the week 20 points lower on the rising tension between two global economic giants – U.S. & China. This was the first time that the S&P 500 has closed the week lower than it started, over the last month, meanwhile, the tendencies in gold price…
Us Federal Court Ruling — Bitcoin Is a Form of Money
A US Federal Court said Friday that bitcoin is a form of money covered under the Washington D.C., Money Transmitters Act (MTA). The court made this conclusion as it denied a motion to dismiss criminal charges against Larry Dean Harmon, the operator of an underground bitcoin trading platform. In December 2019, a federal grand jury in the District of Columbia indicted Harmon for conspiracy to launder monetary instruments, in violation of state laws. However, Harmon moved to dismiss citing “failure to state an offence.” Harmon’s move forced the court to…
Ether Price Nears $300 as Bitcoin, DeFi Tokens Fuel New Bull Run
Ether (ETH) price has shown an incredibly strong performance this week, rising more than 22% since the start of the week and currently less than one dollar away from setting a new high for 2020. Crypto market weekly price chart. Source: Coin360 As reported by Cointelegraph, the upcoming Ethereum 2.0 upgrade and the explosive growth of the decentralized finance (DeFi) sector are being attributed to the current bullish sentiment surrounding the second-biggest cryptocurrency by market capitalization. The strong upside move began on July 21 when the Bitcoin (BTC) price surged…
Governments to Incorporate CBDC into Retail, Wholesale
Cypherium CEO is a massive advocate for ensuring CBDCs are interoperable and he has developed a framework to ensure CBDCs achieve their full adoption and global innovation. Central bankers around the world are more and more coming around to CBDCs, digital form of fiat money, mainly inspired by Bitcoin. Tech nowadays presents a convenient vessel through which they can shape the future of payments. That actually means that CBDC issuance is not so much a reaction to cryptocurrencies and private sector ‘stablecoin’ proposals, but rather a focused technological effort by…
Bitcoin (BTC) Needs to Follow Through or Risk a Head-Fake – Bollinger
In summary: John Bollinger has warned that Bitcoin needs to keep moving up or risk printing a head-fake. Bitcoin is having a hard time breaking and holding the important $9,600 price level. However, recent news developments from Visa, Mastercard, Paypal and the OCC, might provide fuel for a continual push-up. The inventor of the popular charting indicator of Bollinger Bands, John Bollinger, has warned that Bitcoin (BTC) needs to maintain its upward momentum or risk printing a head-fake. Mr. Bollinger made the comments via the following Tweet and around the…
Bitcoin Just Closed Above a 3-Year Trendline Formed At 2017’s $20k High
Bitcoin is finally moving higher after weeks of boring consolidation. In the past seven days, the asset has rallied around 4.5%. A small performance, sure, but one impressive when considering how stagnant large-cap cryptocurrency market has been over recent memory. From a macro perspective, this recent price action may not seem to be of much importance. Yet an analyst says that the recent rally has allowed Bitcoin to accomplish a critical technical feat that could lead to more upside. Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions…
Twitch Levels-Up to Unlock Bitcoin Discount
Amazon-owned streaming platform Twitch appears to be ramping up its crypto strategy. The site, which focuses primarily on video game livestreaming, is now offering users a 10% subscription discount when paying with cryptocurrency through the platform’s payment processor, BitPay. BitPay’s chief marketing officer, Bill Zielke, told Cointelegraph that out of the thousands of merchants the company works with, Twitch is the first major global brand to offer a crypto-based promotion. Zielke added: “We are seeing more online merchants interested in using crypto as a promotional payment form, which is exciting…
Illegal Crypto Mining is Booming in the Republic of Abkhazia
The Republic of Abkhazia is witnessing a surge in crypto mining activities despite crypto-related activities being illegal since 2018. Customs have reported that mining hardware worth over $589,000 has crossed the border over the past six months. According to Nuzhnaya Gazeta, importing crypto mining rigs remains legally permissible. Importers are required to pay taxes equal to 1% of the hardware’s worth and a VAT of 10%. The largely unrecognized state in the South Caucasus, which is considered by several countries as an “autonomous republic” of Georgia, states that they’ve earned…