Bitcoin still has some room to climb before setting a new all-time high in the price per BTC. However, the current market cap of Bitcoin is now currently larger and more valuable than it was back when the cryptocurrency traded higher. Here’s an explanation of how the leading cryptocurrency by market cap set a new record before a new peak price was set. Bitcoin Achieves Milestone New Record All-Time High Market Cap Last night, Bitcoin price spiked to well over $18,000, potentially putting in a short-term peak after a breathtaking…
Day: November 18, 2020
ETH 2.0 benefits will come faster than people expect, Vitalik says in AMA
Ethereum co-founder Vitalik Buterin recently answered a number of community questions as part of an “ask me anything,” or AMA, session on Reddit. During the AMA, hosted by the Ethereum Foundation’s ETH 2.0 research team, Buterin said that he expects noticeable network improvements sooner rather than later. “TLDR: merge happens faster, PoS happens faster, you get your juicy 100k TPS faster,” Buterin said on Wednesday as part of the foundation’s fifth AMA on ETH 2.0. Ethereum’s network has suffered periods of high congestion at various points over the years, depending…
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Bitcoin’s Rally Could Be Caused by a Supply Crunch in China
Bitcoin’s price surge may be driven as much by a drying up in supply as by an increase in demand. That’s because Chinese miners are struggling to sell their crypto in ways that would quickly get them much-needed cash in the face of a government crackdown on local exchanges. “The lack of supply has fed extremely well to the trendiness of this rally, without any of the large sell-downs typical of miner activity in the past,” Singapore-based trading firm QCP Capital noted in its Telegram channel. QCP’s interpretation of the rally…
Crypto lobby defends self-hosted wallets and P2P from rumored gov’t crackdown
Major players in U.S. crypto lobbying are coming out in defense of non-custodial wallets. On Tuesday, the Blockchain Association released a new report presenting policy options for self-hosted wallets to regulators. On Wednesday, Coin Center published an expert view by Jai Ramaswamy, also defending such wallets. The Blockchain Association is a trade organization for the crypto industry, while Coin Center is a non-profit focused on defending decentralization before policymakers. Both are based in Washington, D.C. Ramaswamy currently works on compliance for Celo parent company, C Labs, and was formerly the…
I'm giving up my war against Bloat…
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Binance files US lawsuit against Forbes and two cryptocurrency journalists
Binance has filed a lawsuit in the state of New Jersey against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett, alleging that an article published under the title Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators was defamatory. Binance is demanding both compensatory and punitive damages. The article, which appeared on the Forbes website on Oct 29 2020, reported that the ‘Tai Chi’ document contained details of a scheme designed to “intentionally deceive regulators” in the United States. According to Forbes,…
Grayscale Surpasses $10 Billion in Crypto Under Management With Over 500,000 BTC in Bitcoin Trust
Grayscale Investments has surpassed $10 billion in cryptocurrency assets under management. About $8.85 billion are held in the Grayscale Bitcoin Trust, which now holds more than 500,000 bitcoins. Over $10 Billion Under Management Grayscale Investments announced Tuesday that it has surpassed a major milestone in cryptocurrency assets under management (AUM), which the total now stands at $10.4 billion. The company offers 10 cryptocurrency products, all of which are single-asset trusts except the Digital Large Cap Fund. Most of the funds are held in the Grayscale Bitcoin Trust (GBTC), which currently…
The Dark Future Where Payments Are Politicized and Bitcoin Wins
Satoshi Nakamoto intended Bitcoin to be used for online payments. But it never caught on as a mainstream payments option. The main hurdle to widespread adoption of bitcoin-as-cash is its wild, and potentially lucrative, price changes. This roller coaster problem isn’t going to disappear. Which means the only way for bitcoin payments to ever go mainstream is if the nation’s reliable payment pipelines, the ones that have knitted it together for decades, stop doing their job. Only then will second- and third-best payments rails like bitcoin be called into play. …
The latest industry to boost DLT adoption amid COVID-19
As the coronavirus pandemic continues to push more people out of their offices, many companies across the globe are adopting decentralized ledger technology to mitigate its effects and remain operational. Emmanuelle Ganne, senior analyst at the World Trade Organization, told Cointelegraph that “The current pandemic, which has a devastating impact on small businesses, is an opportunity to accelerate trade digitalization, to the benefit of SMEs in particular.” Ganne added: “DLTs have the potential to remove many of the inefficiencies that hinder international trade and to slash trade costs, which weigh…