California City Official Uses Bitcoin Cash to Purchase Cannabis

In California, cryptocurrency payments are making headway in the cannabis industry as Berkeley City Councilmember Ben Bartlett became the first elected official to purchase cannabis using a digital asset. On Tuesday, Bartlett utilized bitcoin cash (BCH) and Cred’s LBA token to facilitate the transaction at the Ohana Cannabis dispensary in Emeryville. Also Read: Bitmain Launches Next Gen Miner as Bitcoin Hashrate Touches 100 Exahash BCH and the Universal Dollar Stablecoin Used by an Elected Official to Purchase Cannabis in California Cryptocurrency enthusiasts have long dreamed of the cannabis industry and…

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Three Things To Know About China’s Digital Yuan (Not a Cryptocurrency)

China’s central bank is reportedly making strides towards launching a digital currency (not a cryptocurrency) tied to the yuan. Here are three things to know about the proposed central bank digital currency (CBDC). Financial Monitoring and Control Anyone remotely familiar with China knows that electronic payments are already a huge part of the country’s socio-economic fabric. So, why launch a digital currency in a country where people hardly make cash payments? According to Mu Changchun, an official of the People’s Bank of China (PBoC), the soon to be launched CBDC…

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Bitcoin (BTC) Should Not Mind Altcoins: Ari Paul

Bitcoin (BTC) supporters should be neutral or even friendly to altcoins, but be very skeptical of hard forks, commented Ari David Paul, co-founder of BlockTower Capital. But what is worrying is hard forks that challenge the mining of the SHA-256 algorithm. Ari Paul, who recently joined Hedera Hashgraph, showed a balanced stance toward altcoins in a recent Twitter thread. The comments fall within the discussion of “Bitcoin maximalists”, which came to the forefront as BTC prices far outpaced the performance of altcoins in 2019 markets. 1/ It makes sense for…

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Chinese Police Raid Offices of ‘Well Known Crypto Project’

The police in China have carried out another raid on a cryptocurrency project, sealing up offices belonging to the GXChain (GXC) project. Well-Known 2017 Cryptocurrency Project Targeted by Police Tweeting on Wednesday (September 11, 2019), Primitive co-founder Dovey Wan revealed that the Chinese police has taken action against GXChain. BREAKING Another high profile 2017 ICO project GXChain $GXC just got clamped down by the Chinese police GXChain was a very hot ICO back in the days with ATH market cap over $600M (even now still holds $48M) and considered to…

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Market Outlook: Uncertainty Builds With Thin Trade Volumes and Bitcoin Futures Launch

Digital currency markets have dropped in value over the last three weeks, losing $25 billion since mid-August. Market prices have been creeping downward on thin global trade volume and the last two months of volatility seem to be taking a toll on short-term bullish optimism. Also Read: Bitmain Launches Next Gen Miner as Bitcoin Hashrate Touches 100 Exahash Cryptoconomy Loses $25 Billion in Three Weeks Cryptocurrency market confidence seems to be dwindling as many digital assets have struggled to surpass higher price ranges over the last few weeks. Three weeks…

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Litecoin (LTC) Bleeds Hashes as Miners Abandon Ship

The Litecoin network was a boom-and-bust story in the summer of 2019. Miners started to abandon the coin as soon as the block reward went through a halving on August 5. Litecoin Reward Halving Dispersed Miners The cutoff date for Litecoin mining arrived exactly on August 5, when the block reward fell from 25 LTC to 12.5 LTC. The event, repeating every four years, also caused the price to shortly boom to $140, only to unravel later. LTC currently trades at $71.28. The hashrate dropped off from 523 terashes per…

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Tether Churns Printers Again; Mints 20 Million USDT

Tether, the issuer of the USDT dollar-pegged coin, is running the money printer again, increasing the supply to 4.088 billion USDT. After Bitcoin (BTC) price once again threatened to drop below $10,000, a USDT liquidity injection may boost prices. New USDT Enters Markets Tether once again grew the supply of USDT, after testing the waters with recent coin burns. But after BTC prices responded with significant drops, bots noticed new USDT hitting the markets. New coins came out of the minting wallet, and the Tether treasury moved funds into circulation.…

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The Countdown to Bakkt: Just 7 Days to Go

For most people, a week isn’t a long time. But in the fast-paced world of bitcoin and cryptocurrency, it’s enough to change the face of everything with just seven days left until the Bakkt launch. Seven Days Until the Bakkt Launch As tweeted out by Bitcoin quant expert Plan B, there are just seven business days left until ICE starts to offer physically-settled Bitcoin futures. That means that the Bakkt launch is finally coming to fruition after months of uncertainty and doubt. 7 business days until … Intercontinental Exchange (ICE) is…

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Connecting Cash to the Internet Using Stablecoins

Most often overlooked in the fintech space is the world’s most scalable and private payment system: cash. It is used in every country around the world and despite its much exaggerated demise, according to the G4S Global Cash Report 2018, cash circulation has risen to 9.6% of GDP across developed and emerging market countries since 2000, up from 7%. Cash is still king for now, despite concerted attempts to usurp it. Also read: David Chaum’s Elixxir Invites Smartphone Users to Test Private Messaging The War on Cash Is in Full…

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BitMEX Hires Veteran General Counsel Amid Silence On CFTC Probe

Bitcoin derivatives giant BitMEX has announced it has made a significant addition to its legal team in the form of veteran finance lawyer Derek Gobel.  Derek Gobel Joins BitMEX In a blog post on September 11, the exchange confirmed it had hired Gobel as its new general counsel.  Gobel previously worked for major financial entities including BNP Paribas, which he represented as general counsel for Asia Pacific markets.  “As a growing company, we are always looking to bring on exciting new talent. It is our mission to be as successful…

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