Barstool Sports founder, Dave Portnoy, posted a video of his meeting with Gemini exchange founders, Tyler and Cameron Winklevoss, on Twitter. Portnoy, also known as Davey Day Trader on Twitter for his stock trading antics, recently invited the Winklevoss twins over to his house to teach him about Bitcoin, via an Aug. 4 tweet. After briefing Portnoy on the basics, the twins guided the Twitter trader through a few purchases on Gemini, using the $250,000 he statedly sent to the exchange before their arrival. The trio even discussed Chainlink (LINK)…
Day: August 13, 2020
Nigerians Using Bitcoin for International Trade Despite Regulatory Uncertainties
Bitcoin (BTC), the world’s flagship cryptocurrency is rapidly gaining traction around the world as a tool for international trade and commerce. Several forward-thinking businessmen in Nigeria are now using the blockchain-based digital currency to scale the hurdles of foreign exchange in the region, according to a report on August 13, 2020. Bitcoin (BTC) Not Just For Criminals It appears the era where Bitcoin, Satoshi Nakamoto’s revolutionary invention is synonymous with money laundering, crime and all-things not so good is gradually coming to an end, as the digital currency is now…
Why A Weekly Close Below 25 Cents Could Spark A Strong Reversal
After reaching above 30 cents last week, XRP has taken a step back to make a decision on where it wants to head next. A textbook doji closed on the weekly, reflecting indecision in the altcoin. According to a candlestick pattern potentially forming on the weekly following the doji, a fall below 25 cents will likely signal a reversal, while a close above could be the last major crash before a new surge to all-time highs. Evening Star Pattern On XRPUSD Weekly If Ripple Drops Below 25 Cents XRP late…
Preston Pysh on Why We’re in a New Era of Bitcoin Accumulation
The prominent podcaster and bitcoin advocate joins The Breakdown to explain why we’re seeing a phase shift in the corporate and institutional relationship with BTC. The Investor’s Podcast Network cofounder Preston Pysh last recorded with The Breakdown on Black Thursday in March. As NLW and Pysh discussed the potential of future currency crises, bitcoin smashed all the way below $4,000. In the five months since, bitcoin has risen 200%. It has attracted the devotion of leading hedge funders such as Paul Tudor Jones II and more recently has become the reserve asset…
First Blockchain National Currency Platform Ready for Central Banks’ CBDC Issuance
The blockchain national currency platform issued by blockchain company Apollo Fintech was finalized and completed on August 12. National Payment Platform to Fuel CBDCs The blockchain-fueled ‘Central Bank Digital Currency’ (CBDC) platform is the first of its kind to exist. Apollo Fintech, who prides itself in “developing world-shaping fintech solutions for a global economy, just announced recently the completion of the platform, dubbed “National Payment Platform”(NPP). This payments system set in place by Apollo Fintech consists of an innovative cashless digital platform. The blockchain-powered system aims to equip central banks with the proper tools to issue their own sovereign stablecoin, otherwise known as central bank digital…
Why Santander Doesn’t Want to Use Ripple for International Payments Yet
Santander, the large scale Spanish bank and one of Ripple’s major partners, is still hesitant to adopt XRP as part of its international payment network, One Pay FX. The company reasoned that the token “was not actively traded in enough markets” to support the company’s banking needs. During an interview with the Financial Times, Cedric Menager, chief executive officer of One Pay FX, explained that Santander wants to provide the “best [user experience] as quickly as possible.” He also said that the bank hopes to “operate in as many currencies…
Ways To Make Your Bitcoin Work For You During Lockdown
Over 214,000 new cases were added to the confirmed list of COVID-19 on August 12. Many countries, including some European ones that had begun to restore a semblance of normalcy, are forced to impose lockdown measures on various degrees. It seems that a full recovery is still far far away. In times of uncertainty and potential inflation, an array of new buyers flock to the so-called hedge assets such as gold and bitcoin. Bitcoin, what once believed by many a bubble, has garnered wider recognition and acceptance globally. Bitcoin has…
Ross Ulbricht Uses Snail Mail to Send Correction for Blog Post on MakerDAO
Ross Ulbricht, the founder of SilkRoad, has issued a short follow-up to his essay on MakerDAO (MKR) and how it could be redesigned and improved. The follow-up amounts to a small correction to an assumption he made earlier about the Maker system. In his essay, he was puzzled that the DAI Savings Rate, a reward for “staking” the stablecoin, was higher than what DAI minters paid as interest rate. Indeed this is not the case as the savings rate is obtained from stability fee payments. Raising it above that level…
Blockchain Bites: Coinbase’s Loans, Ethereum’s Fees, YAM’s Bug
Ethereum users are paying through the nose while miners profit. Coinbase is offering bitcoin-backed loans and nearly a quarter of the Tor Network may be compromised by a crypto-loving scammer. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. At stake The memetic token project which launched on Tuesday and crashed on Wednesday – erasing nearly $60 million in value – announced itself to the world as an “experimental…
Mining Firm Hut 8 Reports 28% Drop in Q2 Revenue Following Bitcoin Halving
Canadian bitcoin miner Hut 8 announced its Q2 2020 earnings Thursday, reporting a sharp drop in revenue. However, the rising value of the firm’s bitcoin holdings helped Hut 8 finish the quarter in the black. The publicly traded company mined 795 bitcoin (BTC) last quarter, a 29% decrease from the 1,116 BTC mined during the prior quarter. As a result, revenue declined 28% to C$9.2 million (US$7 million). Management mainly attributed this to the bitcoin halving that took place on May 11, writing: “The network difficulty decreased subsequent to the…