Day: August 28, 2020

Winklevoss Twins Pen Down the Bullish Case for $500k Bitcoin

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The Winklevoss twins —the founders of the regulatory compliant Gemini, are convinced the U.S. dollar is no longer a reliable store of value. Instead, their confidence is on Bitcoin.  Gold and Oil as Store of Value Assets On Aug 27, the Winklevoss twins penned an article detailing why the digital asset may rise to $500k a pop, marking the end of the greenback, oil, and gold as leaders and preferred vehicles of storing hard-earned value. For eons, gold and oil, despite being commodities, were considered assets during which when the economy is…

Digital Currency Group Pledges $100 Million to Bolster Bitcoin Mining Industry

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The firm Digital Currency Group (DCG) is entering the mining industry, as the firm has pledged $100 million into a cryptocurrency mining firm called Foundry. The mining company Foundry was noiselessly founded in 2019 and it aims to offer capital, consulting, and intelligence to digital assets miners. Bitcoin mining is becoming a massive industry and the competition continues to heat up across the world. News.Bitcoin.com has been recently reporting on how mining firms like Marathon Patent Group and Riot Blockchain have been spending millions of dollars on mining rigs manufactured…

What’s the Difference Between Crypto Trading and Casino?

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A lot of people still have some prejudges against cryptocurrencies. They believe that cryptos are the roots of financial evil. However, step by step this myth is being broken. Good things are happening all over the wonderful world of crypto. A lot of great progress has been made lately. But even now there’s still skepticism left about all things to do with crypto (especially with the older generation). Bitcoin=MLM=Casino=PonziCoin. Right? Like all revolutionary inventions, Bitcoin has seen its share of untrustworthiness. However, now things are getting better as there is…

Jared Kushner’s Harvard Classmate Shuts Him Down after NBA Remarks

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Jared Kushner shared his unsolicited opinion about the NBA strike with the world. In his comment, Kushner snidely derided the NBA players for being ‘rich.’ That prompted Professor Chanda Prescod-Weinstein to give him a verbal beatdown — one he’d been begging for since 2016. Jared Kushner still hasn’t learned that it costs nothing to stay quiet. But I’ll bet he learned now. After the unqualified White House aide made an equally unqualified comment about the NBA strike, Dr. Chanda Prescod-Weinstein — Kushner’s former Harvard classmate — delivered a metaphorical two-piece…

Walmart Wanted to Solely Own TikTok in U.S., Partnered with Alphabet, SoftBank

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Before now, Walmart wanted to be sole owner of TikTok U.S., and also partnered with SoftBank and Alphabet for the acquisition. Walmart Inc (NYSE: WMT) has partnered with Microsoft Corporation (NASDAQ: MSFT) in a bid to own the U.S. operations of TikTok. The partnership comes after an initial and failed Walmart attempt to make the TikTok acquisition in partnership with Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) and SoftBank Group Corporation (OTCMKTS: SFTBY). Before now, the Trump administration accused the Chinese-owned video sharing app TikTok of threatening the U.S. national security.…

First Mover: Binance’s Shrinking Trading Spreads and Bitcoin’s Jackson Hole Fizzle

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Price point Bitcoin was rising along with gold and U.S. stock futures early Friday as traders reacted to Federal Reserve Chair Jerome Powell’s plan to let inflation run hot in coming years as the economy heals from the coronavirus-induced recession.  The largest cryptocurrency, seen by some investors as a hedge against inflation, changed hands around $11,451, staying in the range between $10,900 and $12,400, where it has been stuck since late July.  In Asian markets, the Japanese yen jumped on haven buying after Prime Minister Shinzo Abe, who has pursued inflation-boosting policies, said he…

Japan’s SBI Plans to Launch CFD Services for Bitcoin, XRP and Ethereum

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SBI FX Trade will become the first forex exchange firm in Japan to support CFD trading for cryptos, including BTC, ETH and XRP. The latest reports indicate that the Japanese financial giant SBI Holdings wants to launch contract-for-difference (CFD) trading for major cryptocurrencies. Starting on August 31, SBI will begin CFD trading services for crypto assets including Bitcoin (BTC), XRP, and Ethereum (ETH). Based on the official announcement, this new service will be offered via SBI’s foreign exchange-focused arm, SBI FX Trade. SBI also said that the platform is now…

Bitcoin Could Reach $500k If Current Conditions Prevail

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Tyler Winklevoss believes Bitcoin price is headed to $500,000 in the long term if the digital asset continues on the current path. American cryptocurrency and Bitcoin investor, Tyler Howard Winklevoss, also the founder of Winklevoss Capital Management and Gemini cryptocurrency exchange, outlined his thoughts on Bitcoin future market price. According to his analysis that is based on a gold framework to value Bitcoin, Tyler believes BTC market price is poised to trade at $500k if the market conditions prevail. Tyler stated: “If we are right about using a gold framework…

Troubled Crypto AG successor reportedly dismisses 70 employees

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Crypto International, a successor of controversial Swiss company Crypto AG, is reportedly dismissing dozens of employees following a major spying scandal. As many as 70 employees had to quit Crypto International after Crypto AG was found to be selling backdoored products to benefit agencies like the United States Central Intelligence Agency in February 2020. The firm reportedly confirmed the dismissals to Switzerland-centred publication Swissinfo.ch on Aug. 28. Representatives at Crypto International reportedly said that the dismissals were unavoidable because the government recently refused to resume the examination of export applications.…