Day: January 8, 2021

Michael Casey: Bitcoin’s Long Road to Gold

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I won’t do that again. Money Reimagined goes on break for three weeks, and what happens?  Bitcoin soars 82%. More than 54,000 Americans die of COVID-19. And, oh yeah, an insurrection happens in Washington, D.C. On the second, the numbers speak for themselves: a heartbreaking failure of human organization. On the third, I’m too gobsmacked to speak anyway. So, today we discuss the first. I want to show how bitcoin’s volatility is not a problem for its long-term viability, as some critics claim. You’ll note a new format to parts…

Blockchain Bites: Bitcoin’s Rich List, Coinbase’s Latest Acquisition

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Ripple tried to settle with the SEC before the watchdog’s XRP-related lawsuit. The “bitcoin rich list” has more names than ever. Grayscale reports an uptick in interest from pension funds and Coinbase makes an acquisition to beef up its institutional bitcoin offerings. It has been a huge news day, so buckle up. Top shelf Frontrunning actionRipple tried to settle charges of conducting $1.3 billion worth of unregistered securities transactions when selling XRP to exchanges and the public, before the U.S. Securities and Exchange Commission (SEC) sued in December, CEO Brad…

DeFi integration and layer-2 tech back Matic Network’s (MATIC) 92% rally

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The exponential growth of the decentralized finance sector increased activity on the Ethereum blockchain, and this has resulted in slow transaction times and incredibly high fees.  In the last month, Ether (ETH) price has also rallied more than 100%, and gas fees are on the rise again as demand for ETH and a resurgence in the DeFi sector accelerates. Matic Network intends to solve the DeFi and decentralized applications scalability problem by using layer-two technology for off-chain computing. Multiple sidechains can be used simultaneously, and each is secured by a…

Bitcoin Now Larger Than Facebook’s Market Cap — ‘Money Network More Valuable Than Social Network’

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The surge in bitcoin’s price on Friday has propelled the cryptocurrency past Facebook’s market cap. Next, bitcoin stands to flip Tesla, Google, Amazon, Microsoft, and then Apple. Bitcoin Surpasses Facebook in Market Cap Bitcoin’s frequent rise past all-time highs this week has made the size of the cryptocurrency larger than Mark Zuckerberg’s Facebook. The price of bitcoin broke another all-time high early Friday morning, reaching $41,970. At the time of writing, BTC stands at $41,147; its market cap is about $770 billion while Facebook’s market cap is approximately $752 billion.…

Bitcoin bull run could end if institutions go under, Komodo exec speculates

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Famous for its volatility, Bitcoin’s price constantly waffles both north and south. While it recovered quickly from its pandemic-induced drop in March 2020, going on to break record highs, that doesn’t mean the asset is bulletproof against a similar event in the future. The director of business development for smart chain platform Komodo, Jason Brown, recently weighed in on what could possibly cause another COVID-19-style price decline for Bitcoin (BTC). “I think such a scenario is unlikely given the current uptrend in institutional adoption,” Brown told Cointelegraph. “On the other…

Warp Finance adds Chainlink oracles to protect against flash loans

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Warp Finance, a DeFi lending protocol that suffered an $8 million flash loan exploit shortly after release, is now gearing up for a relaunch that will include an integration with oracles by Chainlink. The inclusion of Chainlink oracles reportedly serves as protection against similar exploits. Flash loan exploits use a feature that allows borrowing an unlimited amount of funds, as long as it is also returned within the same Ethereum block. According to the team, security experts determined that the root cause of the exploit was an exploitable price oracle.…

Cryptocurrency Mining with next-gen gaming pc worth it?

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video, I wanted to share with you guys my mining performance with my pc workstation! and to show you if it is worth it or not! 00:00 intro 00:50 the market in the past 24h 04:00 my workstation and gaming pc 05:50 mining eth 07:20 my monthly results mining eth and mining calculator! 10:20 CPU mining VRSC monthly 14:55 how mutch I mine with my PC in $ 16:50 how much gaming pc costs? 18:40 how fast I pay my…

Bloomberg Report: $50k May Be Bitcoin’s Next Stop with a Base at $20k

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Summary: $50k may be Bitcoin’s next stop Bitcoin’s old all-time high of $20k is now its base Bitcoin is attracting traditional gold investors as it is the digital version of the precious metal Bitcoin as an asset is maturing as seen through accumulation and a reduction of the premium rate on GBTC The team at Bloomberg have released their 2021 January crypto outlook report in which they forecast that $50k is Bitcoin’s likely next stop. According to the report, Bitcoin’s old all-time high of $20k is acting as its base…

Charity’s Centralization Problem: How Can Blockchain Help?

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They call it the charitable-industrial complex: a system where money for development, for humanitarian needs, and for improving the lives of billions is controlled through a top-down process, run by U.S. charities and shaped by U.S. tax rules and regulations. Join Michael Casey and Sheila Warren as they speak with Matthew Davie the Chief Strategy Officer of Kiva and Alpen Sheth Senior Technologist of Blockchain at Mercy Corps. The first Money Reimagined podcast episode of 2021 dives into the problems this creates. Can we get away from this top-down, centralized…

As gold crashes, Jim Cramer says money is ‘all going to crypto’

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As the price of gold plunged on Friday, CNBC’s Jim Cramer said the rise of crypto may partly explain the sudden disinterest in the precious metal — a potential sign that the mainstream has flipped the script on Bitcoin (BTC) and digital assets.  When asked why gold isn’t rallying amid the political chaos on Capitol Hill this week, Cramer said the market is either not as chaotic as it seems or that all of the money is going into cryptocurrency: either it is not as chaotic out there so gold…