Day: July 29, 2020

Bitcoin Cash Rally Reaches $300 and Technicals Indicate Further Upsides

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Bitcoin cash price rallied over 8% and it broke the $250 and $260 resistance levels against the US Dollar. BCH is likely to continue higher above the $300 barrier. Bitcoin cash price is gaining momentum above the $260 pivot level against the US Dollar. The price traded close to the $300 level and it is currently consolidating gains. There is a short-term contacting triangle forming with resistance near $295 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to accelerate further higher if…

Gold ‘Harder to Confiscate’ Than Bitcoin as Searches Spike

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Bitcoin (BTC) loses to gold when it comes to how easy it is to transport and confiscate, says Peter Schiff. In a tweet on July 29, the gold bug and infamous Bitcoin skeptic claimed that it was easier to move and preserve ownership of the precious metal. Gold is “absolutely transportable” “Gold is absolutely transportable and harder to confiscate than Bitcoin,” Schiff wrote. The comment caused an instant backlash, with BTC proponents immediately highlighting gold’s shortcomings.  In addition to being physically bulky and therefore harder to transport, gold has long…

93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday

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Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm Glassnode revealed that when the price of bitcoin (BTC) is over the $11,000 range, 93% of bitcoin in circulation becomes profitable. At the time of publication, BTC has been struggling to hold that momentum as the price has shifted below the $11k range a couple of times…

US Health Department COVID-19 Tracking System To Use CIA-Backed Palantir Technologies – Blockchain News, Opinion, TV and Jobs

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In what was regarded as a highly political move, the U.S. Department of Health and Human Services (HHS) recently took over control of COVID-19 reporting by hospitals from the Center of Disease Control (CDC) and government contractor and big data analytics giant Palantir was awarded the bulk of the project’s blockchain needs without competitive bidding, according to an investigative report at Ledger Insights. The US Health Department FAQ leaves few clues about what blockchain protocol is being deployed and how Palantir is integrating its controversial technology.  According to reports online,…

Aussie Exchanges Partner With Crypto Tax Firm as ATO Eyes Traders

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Crypto taxation software provider Koinly has announced a partnership with three Australian digital asset exchanges to simplify their clients’ tax reporting. Coinjar, Cointree and Swyftx announced support for Koinly on July 29, allowing the exchanges’ customers to automatically feed trading data to Koinly via csv or API, and access detailed capital gains reports. “Even though there is a lot of guidance around cryptocurrency taxes, it is simply too difficult to calculate taxes by hand especially if you traded on multiple exchanges,” asserted Koinly founder Robin Singh. Increased scrutiny from regulators …

Tel Aviv Stock Exchange Launches Blockchain Securities Lending Platform – Blockchain News, Opinion, TV and Jobs

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The Tel-Aviv Stock Exchange (TASE: TASE) announces the first-ever launch in Israel of a Central Blockchain Securities Lending Platform, an innovative and groundbreaking financial technology. Orly Grinfeld, EVP and Head of Clearing at TASE stated: “The Tel Aviv Stock Exchange is proud to present this first-of-a-kind lending pool, a safe, cutting-edge and state of the art platform. The Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform. TASE is a global financial innovation leader, and strategically pursues the…

Gavin Wood’s Ethereum Blockchain Challenger Polkadot Raise$43.3m in Quiet Private Sale – Blockchain News, Opinion, TV and Jobs

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According to a Bitcoin address associated with Polkadot made public yesterday, the Web3 Foundation and Parity Technologies were flooded with some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million in a quiet 72-hour token sale this week. Founded by Ethereum architect and co-founder Gavin Wood, Polkadot is a network protocol that allows arbitrary data — not just tokens — to be transferred across blockchains. Polkadot claims to be a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible and say the protocol can transfer data across…

DataArt and IntellectEU Join to Bring DAML Protocol and Smart Contracts to R3’s Corda – Blockchain News, Opinion, TV and Jobs

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Open-source blockchain protocol DAML smart contracts are now available on R3’s Corda after system integrators DataArt and IntellectEU teamed up to deliver native integrations that allow developers to run DAML applications on Corda Open Source and Corda Enterprise. DAML on Corda joins the power and simplicity of DAML for smart contracts and multi-party workflows with the flexibility and broad adoption of the built-for-business and popular Hyperledger Corda DLT platform. Distributed ledger technology platforms like Corda offer a powerful way to deploy distributed, multi-party applications across all kinds of business domains…

Ripple (XRP) Just Broke $0.24 And Indicators Suggest A Test of $0.25

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Ripple traded to a new monthly high above $0.2400 against the US Dollar. XRP price is currently up over 8% and it is likely to continue higher towards $0.2500. Ripple started a strong increase above the $0.2250 and $0.2320 resistance levels against the US dollar. The price traded to a new monthly high at $0.2411 and settled well above the 100 hourly SMA. There is a crucial bullish trend line forming with support near $0.2260 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could…

DeFi Makes Legacy Fintech Obsolete

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Kain Warwick, founder of DeFi derivatives platform Synthetix, argues that projects built on Ethereum can finally deliver on many of the promises that fintech failed to. Despite ten years of development, Warwick said the fintech sector has been hamstrung by “trying to build overlays for the legacy infrastructure.”  They faced issues with a lack of interoperability between the “siloed” systems of financial institutions, regulatory barriers to innovation, and the vast expenses associated with mainstream compliance regimes. He said: “The promise of fintech over the last ten years has run up…