Day: September 17, 2020

Vinay Gupta: Ecological Sanity Is Compatible With Human Freedom

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In the early days, Bitcoin proposed a simple model of how the world could be transformed: The free market was going to produce inflation-proof money with strong privacy features, which could be used to avoid taxes. Over time, people would sell their dollars, replace them with cryptocurrency and the State would wither away to be replaced with an anarchic paradise. Vinay Gupta is CEO of Mattereum, an Ethereum-based physical asset management platform. He coordinated the Ethereum launch process and first worked in cryptocurrencies in the 1990s. This essay is part…

Ethereum Rallies Into Resistance: Here’s Why Bulls Are Comfortable

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Ethereum rallied more than 5% and it broke the key $370 resistance against the US Dollar. ETH price is struggling to clear the $390 resistance and it is currently correcting lower. Ethereum started a strong increase after forming a key double bottom pattern near $355. The price is up over 5% and it surpassed the $370 barrier and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH/USD (data feed via Kraken). The pair…

‘Price of Tomorrow’ author says Bitcoin is a ‘lifeboat’ amid financial turmoil

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Renowned entrepreneur and author, Jeff Booth, has endorsed Bitcoin as a ‘“must have” investment in times when central banks are exacerbating the escalating debt problem. The comments came in a tweet thread discussing the notion that central banks believe they can somehow escape a massive debt problem by exponentially adding more debt. 6) In my humble opinion – Bitcoin is a “must” Not just for your wealth but as a lifeboat. Please do your own research. Follow @PrestonPysh @johnkvallis @RaoulGMI @APompliano @Breedlove22 @princey1976 @PeterMcCormack @MartyBent @LynAldenContact — Jeff Booth (@JeffBooth)…

FinCEN announces sweeping money laundering regulations overhaul

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The U.S. Financial Crimes Enforcement Network (FinCEN) has announced it will be changing the anti-money laundering (AML) and counter-terrorist financing (CTF) rules within the financial sector. The announcement stated that FinCen will be seeking public feedback on forthcoming regulatory proposals intended to modernize and strengthen rules governing the reporting and monitoring requirements of financial institutions. The new policies seek to address “the evolving threats of illicit finance, such as money laundering, terrorist financing and related crimes” which suggests that crypto firms and exchanges will be firmly in the sights of…

Bitcoin Price Holds Strong Above $10,800: A Firm Case for Upside

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Bitcoin price climbed further higher above the $11,000 resistance against the US Dollar. BTC is currently correcting gains, but dips are likely to remain supported near $10,800. Bitcoin extended its upward move above the $10,900 and $11,000 resistance levels. The price is now forming a strong support above $10,800 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $10,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to resume its upside as long…

13,000 DeFi users have already claimed Uniswap’s new UNI token

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Decentralized finance (DeFi) platform Uniswap’s governance protocol token UNI went live on Ethereum earlier today. The community showed immediate support for the new token with Uniswap’s Twitter announcement garnering over 1.2 thousand likes in the first 90 minutes. 150 million UNI, or 15% of the token’s supply, is now available to be claimed by anyone who has used the platform. Synthetix founder Kain Warwick called the move a “galaxy brain move,” adding that this will be “the best token distribution we have ever seen.” With the news going viral, 13,000…

Bitcoin ATMs surge by 87% in past year to surpass 10,000 globally

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The total number of Bitcoin ATMs has now passed 10,000 worldwide. According to Norwegian financial services company AksjeBloggen, the number of Bitcoin ATMs (BTMs) has jumped 87% in the past year, from the 5336 recorded in September 2019. In 2020 alone, nearly 3,900 new ATMs were added. Monitoring resource CoinATMRadar shows there are currently 10,014 ATMs in 71 countries allowing users to buy and sell Bitcoin (BTC) and altcoins for cash.  “2020 has witnessed a surge in the number of ATMs supporting digital coins,” stated the AksjeBloggen report. “3,885 new…

MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase

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On Tuesday, the NASDAQ-listed business services company MicroStrategy bought $175 million worth of Bitcoin. This came just weeks after the company siphoned $250 million into the leading cryptocurrency, citing its ability to act as a reserve asset better than U.S. dollars. At the time, company chief executive Michael J. Saylor said: “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.” This was a stark reversal from Saylor’s…

Binance immediately lists Uniswap’s new token as excitement mounts

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Unfazed by the controversy over its Sushiswap listing, Binance announced support for Uniswap’s new UNI token around 90 minutes after the DeFi platform’s governance token went live on Ethereum. Over the next four years, one billion UNI tokens will be distributed, with 15% being immediately available for historic users of the platform to claim today. In total, 60% will go to community members, while the remaining 40% going to team members, investors, and advisors with a vesting period of up to 4 years. After four years, the token will settle…

Bitcoin Miner Outflows a Grave Sign for BTC Despite $11,000 Breakout

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Bitcoin has seen some intense strength throughout the past several days, with the cryptocurrency marching from lows of $9,900 to highs of over $11,000 that were set today. This strength is somewhat unique in that BTC is the only major cryptocurrency currently marching higher, as most others are stuck within consolidation phases or downtrends. Ethereum, for instance, is still trading well below its key $380 resistance level, with each attempt to surmount it resulting in strong selloffs. The weakness seen by ETH – relative to that seen by the benchmark…