Day: November 10, 2020

Bitcoin Holding Companies Will Come Under Scrutiny from Biden Administration, Says Ripple CEO

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Ripple CEO Brad Garlinghouse is once again taking aim at Bitcoin (BTC) mining energy consumption, predicting that the changing political landscape in the United States may affect companies holding the largest crypto by market capitalization. Meanwhile, Ripple itself has experienced some difficulties with operating in the country owing to the lack of clarity about the regulatory status of the XRP token. Climate Change Policy Reversal May Affect Bitcoin Tweeting on Monday (November 9, 2020), the Ripple chief declared that U.S. President-elect Joe Biden will create policies that will lean heavily…

Nic Carter: The Case for Bitcoin Banking (Despite Cred)

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The crypto lender Cred recently filed for bankruptcy, after apparently suffering significant losses in its loan portfolio. While the final details of the insolvency have yet to be determined, the postmortems have already begun to roll in. A number of Bitcoiners have used the occasion to reinforce that eternal doctrine: not your keys, not your coins. And indeed, this is an idea that I am sympathetic to. True ownership of bitcoin requires knowledge of a private key which allows you to spend the UTXOs in question. But it is also…

Why Stablecoins Are More Popular Than Ever

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Stablecoins have seen their utility climb dramatically in recent months, partially thanks to the explosion of innovation in the decentralized finance (DeFi) industry. In the last year, the market capitalization and daily trading volume for most major stablecoins have skyrocketed as demand for price-stable crypto assets increased dramatically at this time. Stablecoins are now used by several million cryptocurrency holders, and account for almost 40% of all cryptocurrency trading volume, while both the number and variety of different stablecoins has grown considerably in recent years – with USD-pegged, BTC-pegged, and a…

OMG Network

OMG is the native cryptocurrency of the OMG Network (OMG), a blockchain network built on top of the Ethereum blockchain that speeds up transaction times and reduces transaction fees by handling Ethereum transactions off of Ethereum’s main network. The open-source project ensures a scalable and secure system for decentralized applications (dapps) and crypto transactions on Ethereum. OMG price The OMG token has a total supply of 140.2 million, all of which were released during the initial launch. According to the project’s initial white paper, OMG was designed as a way…

Blockchain Bites: Billionaire Bullish on Bitcoin, Updates on Fowler’s Crypto Capital Case and More

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Another billionaire investor disclosed his bitcoin bags. The Silvergate Exchange Network added another exchange member. Riot Blockchain, a publicly traded bitcoin mining firm, recorded bumper revenues with plans to expand. Top shelf Billionaire’s bitcoinBillionaire U.S. investor Stanley Druckenmiller, who just weeks ago was said to be shorting the dollar, is long on bitcoin. In a Monday CNBC appearance, Druckenmiller disclosed a bitcoin position significantly smaller than his gold horde. However, he predicts bitcoin will outperform gold in the long run – largely due to millennial and Silicon Valley attraction to…

Weather-tracking blockchain in West Africa, but transparency on a raincheck

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West Africa is home to an estimated 381 million people and counting. Unfortunately, the region was also found to be a hotspot for climate change, which will likely impact crop yields and food production while causing damage to its unique wildlife. At the same time, West Africa is well on its way to becoming the next blockchain hotspot as well, with the region continuing to show interest in cryptocurrency and digital solutions. In 2019, Nigeria ranked as the number one country for Bitcoin searches on Google, which may be linked to…

Bitcoin price outlook still bullish despite drop from COVID-19 vaccine news

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The price of Bitcoin (BTC) has seen extreme volatility in the past 24 hours. After the Dow Jones Industrial Average abruptly rose by more than 800 points, BTC plunged in tandem with gold. Within five hours of achieving a four-day peak at $15,840, the dominant cryptocurrency abruptly plummeted 6.5%. Following the correction of BTC, analysts and traders remain divided on its near-future prospects. The short-term pullback of Bitcoin, which happened within several hours, was beneficial for BTC for three key reasons. First, it neutralized the derivatives market, which is no…

This Historic Trend Shows Bitcoin Could Soon See a 700%+ Rally; Here’s Why

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Bitcoin has seen some choppy price action throughout the past day, with its price mainly consolidating within the lower-$15,000 region as bulls and bears struggle to gain control of its near-term outlook. Where it trends in the near-term will likely depend on whether or not it can continue trading above $15,000. This has been a key support level for the crypto, and so far, each break below it has been met with immense buying pressure. Its recent consolidation has done little to provide insight into its near-term outlook. Until it…

Lebanon to launch digital currency in face of economic and financial turmoil

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Lebanon’s central bank plans to launch a new digital currency in 2021 as part of a broader effort to combat a parallel economic and financial crisis that has engulfed the country. Central bank governor Riad Salameh told a gathering of officials Monday that “We must prepare a Lebanese digital currency project” as a way to shore up confidence in the banking system. “As for the monetary supply in the Lebanese market, it is estimated that there are $10 billion stored inside homes,” Salameh said, according to the state-run National News Agency.…

Airline and Casino Stocks Benefit from Coronavirus Vaccine News

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The expectation of market watchers is that vaccine development would herald a recovery of the global economy. Airline and casino stocks reacted to the news of a potential vaccine for coronavirus on Tuesday. Asia-Pacific markets are the first to feel the impact of the possible development of a vaccine for the pandemic that has affected the industries and had a massive impact on the global economy. On the other hand, stock of companies related to “sit-at-home” have not fared as well with the prospect of things brightening up with a…