Day: October 15, 2021

‘Thank God for Bitcoin,’ Cynthia Lummis says on US debt limit raise

Amid the United States President Joe Biden signing legislation to raise the government’s debt limit to $28.9 trillion, Senator Cynthia Lummis said that Bitcoin (BTC) is a blessing of God. Senator Lummis gave a speech to the Senate on Thursday, providing her perspective on how digital currencies like Bitcoin could potentially help countries like the U.S. address the looming crisis when the state runs out of cash. Lummis said that one of the reasons she had become so interested in non-fiat digital currencies like Bitcoin is because they are not…

DOJ investigating cryptocurrency Tether for bank fraud: Report

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io CNBC’s Kate Rooney covers bitcoin’s moves on news that Amazon is hiring for a crypto-related role and other big headlines in the space. For access to live and exclusive video from CNBC subscribe to CNBC PRO: The Justice Department is investigating possible bank fraud by executives of Tether Ltd. stemming from actions during the early days of its stablecoin cryptocurrency, according to Bloomberg News. The probe has implications for the cryptomarket. Tether’s stablecoin is the third largest digital asset by market cap,…

Polygon can hit $3.50 in Q4 as MATIC’s 20% weekly rally triggers bull flag setup

Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag. In detail, bull flags are bullish continuation patterns that emerge when the price consolidates following a strong move higher. In doing so, the price tends to trend lower while leaving behind a sequence of higher lows and lower lows. A breakout occurs when the price closes above the flag’s upper trendline (or resistance). In other words, the price can rise by as much as…

ETC Group Releases Bitcoin Cash Report Praising High Usage and Vibrant Development – Bitcoin News

ETC Group, an ETF issuer company, released a report last month about the evolution of Bitcoin Cash in the years after the hard fork that created it. While the company acknowledged the asset price is lagging compared to its older sibling, it praised the crypto on other aspects like development and actual usage. Bitcoin Cash has improved regarding these two metrics, likely helped by the inclusion in several important platforms such as Paypal. Bitcoin Cash Examined by ETC Group ETC Group, a financial services company based in London,…

Belarus Introduces Special Electricity Tariff for Miners

Belarus has classified crypto miners in the same electricity-tariff grouping as data centers, according to a directive jointly issued by the Ministry of Energy and Ministry of Anti-Monopoly. The directive, issued Sept. 27 and made public on Thursday, adds two groups of customers to the previous rankings. One of those groups is: “Organizations processing data, providing services for information storage and related activities, including mining and data centers.” The group is further divided into five sub-groups, depending on how much electricity they use, from 25 million kilowatt hours to 500…

I Tried Mining Bitcoin For a Week

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I Tried Mining Bitcoin For a Week Richard’s channel (CRAZY content coming soon): Zero to Making $100k Per Month at 18 I Biaheza Story: My Dropshipping Course: This video is no shape or form financial advice, it is strictly intended for entertainment purposes only. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Bank of Russia to assess Bitcoin holdings volumes as $36M leave banks

The central bank of Russia is trying to evaluate the amount of Bitcoin (BTC) held by local investors amid a massive amount of money not returning to banks following the pandemic-fueled withdrawals. According to Elizaveta Danilova, head of the central bank’s financial stability department, the Bank of Russia is polling local cryptocurrency investors to estimate cryptocurrency investment volumes in Russia. “We need to work both on data and raising public awareness about the risks of such investments, which are backed by nothing,” Danilova said in a Reuters interview published on…

Charlie Lee Sums Up Litecoin’s 10 Years History. Part Five: Conflict Of Interest

It’s great that the founder decided to give us one more chapter of Litecoin‘s story. Let’s tie up loose ends and wrap this whole series with a bow on top. As it turns out, Charlie Lee returned to his job at Coinbase. Was the company more supportive this time around? Plus, as we warned you last time, at one point Lee sold all of his LTC. What were his reasons to do that? Did he have a plan? And, more importantly, did the plan work?  Related Reading | Charlie Lee…

Japan will prioritize simplicity in CBDC design, says central bank executive

While Japan’s CBDC plans are still in the research stage, Shinichi Uchida, an executive of the Bank of Japan (BOJ) has said simplicity will drive the central bank’s design thesis for the digital yen. According to Reuters, Uchida made this known during a speech delivered on Friday calling for modalities to be put in place to ensure the CBDC co-exists with existing private payment channels. For Uchida, vertical integration of the digital yen within the private sector payment matrix will require a simple CBDC design. Part of this simple design…