According to BTCC co-founder Bobby Lee, bitcoin price could reach $200,000 in a very short space of time from now. Bitcoin Will Exceed $20,000 Speaking to Yahoo Finance UK, the founder of China’s first bitcoin exchange platform declared that the bitcoin price could continue to reach greater heights. According to Lee: We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000…
Read MoreDay: September 14, 2019
Distrust of the Bolivar Prompts Venezuelans to Seek Sound Money
There’s a small team of committed researchers and activists called the Ryver Bitcoin Cash group surveying Venezuelans, and giving them educational resources about the benefits of bitcoin cash. The Venezuelan country has been suffering from rapid inflation and many people distrust the sovereign bolivar. Unfortunately, most Venezuelans are not getting any exposure to digital currency use cases, and according to Ryver’s community manager, Sofia Corona, some people spreading the crypto message are doing it all wrong. Also Read: Developer Reveals Token Reward Platform Fueled by Bitcoin Cash 88% of Venezuelan…
Read MoreCrypto Inflation Figures Show Why Bitcoin is King Above Others Like ZEC and XRP
The high inflation figures for altcoins like ZCash (ZEC) and XRP are providing yet another basis for the “bitcoin is king” argument. Indiscriminate Dumping Hurting Altcoin Value Tweeting on Friday (September 13, 2019), economic and crypto analyst, Alex Krüger highlighted the relationship between high inflation figures and poor price performance for certain altcoins. Crypto inflation rates, as measured by @viewbasecom. There is a disproportionate percentage of $ZEC and $XRP pouring into the market. No wonder these tokens are the worst performers of 2019, down 25% and 30% in dollar terms,…
Read MoreHow Prime Brokerage Will Affect Crypto Markets
Prime brokerage firms are coming for crypto in what’s likely to be a race of winner-takes-almost-all. Goldman Sachs is synonymous with institutional wealth and power, even to those who’ve never purchased a financial product in their life. Like the eponymous tower it occupies in Jersey City, Goldman Sachs dominates the prime brokerage trade. What will happen when crypto gains its own Goldman Sachs – an institutional investment company whose AUM grant it unprecedented sway? Also read: Crypto Facilitates Money Transfer for Restricted China Prime Brokerage Is Coming for Crypto Prime…
Read MoreGerman Gov’t Approves ‘Bundes-Chain’ to Combat Libra Cryptocurrency
The German government will approve its proposed blockchain strategy this September which reportedly blocks projects like Facebook’s Libra cryptocurrency. Germany Readies Anti-Libra Response According to Spiegel, Germany’s federal cabinet will approve its blockchain strategy announced back in June 2019. While the move signals the country’s intent to be a part of the emerging global economy, the government-run ‘Bundes-chain’ might sound the latest death knell for Libra in Europe. Thomas Heilmann of the center-right Christian Democratic Union (CDU) says Germany’s legislative coalition already has a standing agreement to prevent the operation…
Read MoreHacker Steals 30,000 EOS Through Gambling dApp Loophole
An attacker has made off with at least 30,000 EOS by exploiting gambling dApps on the network. By congesting the network with rented resources, the attacker was able to guarantee a winning outcome every time. Anatomy Of A Crime As pointed out by community members on Twitter, the attacker managed to steal over 30k EOS by manipulating winning conditions in gambling dApps. They first rented a massive amount of CPU and NET at EOS’s REX resource exchange. By staking CPU and NET for themselves and the attacked contract, the attacker was able…
Read MoreNature Abhors a Vacuum: Why Trump’s Proposed Negative Rates Bode Well for Bitcoin
In a recent tweet, U.S. president Donald Trump delved into an explosive, all-caps-loaded mini-rant about the necessity of getting “interest rates down to ZERO, or less.” The bombastic politician stressed the need for America to refinance its debt, trailing off with some superficially conservative speak about the U.S. and its “great currency, power, and balance sheet,” and calling the Fed “boneheads” for refusing to inflate credit bubbles further. Sycophantic support of the leader aside, negative interest rate policies (NIRP) are slowly but surely gaining prominence worldwide, setting everyone up for…
Read MoreCrypto Facilitates Money Transfer for Restricted China
Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal to send or receive over $50,000 in fiat money without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that transferring money can be difficult. In spite of bitcoin’s somewhat precarious legal standing within the nation, Chinese are nonetheless finding a ready avenue of non-draconian, free market exchange in all things cryptocurrency, using these channels to prosper even…
Read MoreLocal.Bitcoin.com Gathers 56K Accounts and $200M Worth of Trades Initiated
Three months ago, Bitcoin.com launched its over-the-counter BCH marketplace on June 4. Since then, Local.Bitcoin.com has aggregated more than 56,000 accounts, hundreds of bustling users every day and thousands of BCH trade offers. Also Read: Plans to Build $50M Bitcoin Cash Tech Park Revealed 56,000 Local.Bitcoin.com Accounts and Growing Over the last few months, the peer-to-peer marketplace Local.Bitcoin.com has seen steady growth when it comes to registered accounts and liquidity. At the time of publication, the noncustodial trading platform has more than 56,000 accounts stemming from cities and towns all…
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