Archiv für Oktober 2019
Fundstrat’s Tom Lee: 99% of USD is Speculative, Why Discredit Bitcoin?
Bitcoin critics say that the cryptocurrency should never be regarded as a means of exchange because it’s mostly used for speculation. Fundstrat’s Thomas Lee disagrees with this statement, saying that most of the US dollars are used for speculation as well. Almost 99% USD Activity is Speculation Venture capital firm Castle Island Venture recently interviewed…Weiterlesen
Bitcoin Ownership in UK is Surprisingly Low, New Survey Reveals
A survey by cryptocurrency blog Crypto Radar is showing a high bitcoin apathy in the U.K. for people of retirement age. 67.5% of U.K. Citizens Have No Interest in Bitcoin According to the details of the survey as published by Crypto Radar, only 5.3% of the 2,500 participants owned Bitcoin. Of this number, more than…Weiterlesen
XRP Volume Lower Than EOS, Still in Top 3
Ripple’s XRP had a dismal year so far. Volumes reach around $1.6 billion per day, a comparatively weak result for a top 3 coin. Low Volumes Among Top Coins XRP saw its volumes sink even below those of EOS, which trades at $2.6 billion per day. The asset, however, remains near the top. The asset…Weiterlesen
What Another Fed Rate Cut Means For Crypto?
For the third time this year, the US Federal Reserve has cut interest rates amid a global economic slowdown. Crypto markets did not react to the news but the outlook for the global economy is darkening as another recession looms. What does all of this mean for crypto though? Third Cut This Year This week…Weiterlesen
John McAfee’s $1M Bitcoin Prediction Mirrors 2013-2014 Bull Market
The extremely bullish prediction of John McAfee that Bitcoin (BTC) will reach $1 million in 2020 could be based on how the asset’s price action developed during the 2013-2014 boom. Bitcoin Rose on Mt. Gox Activity Back then, BTC picked up in earnest, posting its first-ever four-digit price. Bitcoin price moved up from the $100…Weiterlesen
Libra: Should Zuckerberg Thank Xi for Creating FOMO?
Last week, Chinese President Xi Jinping praised blockchain while the congress passed a new cryptography law in a bid to develop a state-backed digital currency. Crypto enthusiasts expect that China’s revival will convert into a big hope for Libra amid general FOMO. Primitive Ventures Co-Founder, Dovey Wan, claims that the comments made by Chinese president…Weiterlesen
Why Bitcoin Mining is Still a Very Lucrative Venture
Bitcoin prices are still extremely volatile and, as we saw at the weekend, experience wild swings in both directions. This trend is likely to continue until distribution evens out and is not as ‘top heavy’. BTC mining, on the other hand, has had a much smoother ride in recent years. Cumulative Bitcoin Mining Revenue Tops…Weiterlesen
Is China’s Blockchain Future A Brave New World Or Orwellian Dystopia?
Last week, China’s President Xi Jinping nailed his colors firmly to the blockchain post, urging accelerated adoption of the technology. The announcement excited investors in Bitcoin and tech stocks, but the first ‘official’ output is slightly more ominous. China’s Communist Party (CCP) has released a decentralized app (dApp) for members to pledge their allegiance to the…Weiterlesen
Ethereum Network Not Rolled Back After DAO Hack
The Ethereum (ETH) network was not really rolled back after the DAO hack, explained the project’s co-founder, Vitalik Buterin. Instead, the record was altered in the state of the DAO. The “Surgical Intervention” Did Not Roll Back General Transactions Innocent users did not see any of their transactions invalidated and rolled back, explained Buterin. Instead,…Weiterlesen
China Digital Currency Will Replace SWIFT: Huang Qifan
China’s plans to create a sovereign digital currency might be aimed towards eradicating the need for U.S.-controlled payment systems like the Society for Worldwide Interbank Financial Telecommunications (SWIFT). SWIFT and CHIPS Systems Have No Future Speaking at the Bund Financial Summit in Shanghai, Huang Qifan the vice chairman of the China Center for International Economic…Weiterlesen