Global Crypto War Is Heating up – Iran Next in Line With Its Own Gold-Backed Coin

Control of the U.S. dollar and the global financial system that depends on it gives the American government an incredibly powerful tool in shaping international affairs. As such, it is not surprising that its geopolitical rivals around the world will try to exploit the invention of cryptocurrency to take the USD down a peg. The latest example comes from Iran that now wants to create a digital token backed by gold. Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque Central Bank of Iran Approves Gold…

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Tor Project Bitcoin Donation Fund Raises 65% on First Day

The group behind internet privacy project, Tor, has launched a bitcoin donation fund as part of their fight against web censorship and surveillance. Tor Teams Up With Bitpay The web privacy advocates aim to raise $10,000 in a two-week crowdfunding campaign which will go towards the fight against internet censorship. The Tor project enables users to access the internet privately and anonymously while circumventing government censors and firewalls. This is facilitated through the Tor Browser which is a modified version of Firefox that can bypass ISP filters and access an…

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Overview: Facebook Libra Project US Senate Hearing

Earlier today Facebook Libra met with US Senators from the Senate Banking Committee. Here are a few highlights of note from the hearing. Facebook Libra Meets with Lawmakers Again Today Facebook answered questions from concerned US lawmakers on the Senate Banking Committee. As previously covered by Bitconist, lawmakers are worried that Facebook’s Libra cryptocurrency could operate outside the regulatory oversight of authorities and also function as a safe haven for illicit criminal activity.  When questioned about the intricacies of the cryptocurrency, Calibra head David Marcus said that Facebook will only…

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How to Create and Airdrop Your Own Token to Your Friends

Roughly a year ago, the Simple Ledger Protocol (SLP) debuted on the Bitcoin Cash (BCH) network, giving anyone the ability to mint, store, receive, and send SLP tokens. Since then there’s been a ton of tokens created on the BCH network as the simplicity of the system outpaces tokens built on alternative chains like ERC20s and sending the tokens is far cheaper than most networks as well. The following walkthrough describes how to create SLP tokens and airdrop them to your friends and family in a short space of time.…

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Bitcoin Has Found A New Admirer In House Rep. Kevin McCarthy

House GOP Leader Kevin McCarthy says he “likes Bitcoin” and suggested that the government should “start using blockchain”.   Is Facebook Building a Shadow Bank? Since revealing the concept for it’s new Libra cryptocurrency, Facebook has again become a topic of deep discussion and contention. Various governments around the world have expressed concern over the company operating what some have labeled a shadow bank and many are resorting to using the age-old trope that cryptocurrency facilitates illegal activity as a defense.  There are hardly any lawmakers issuing commentary supportive of Libra…

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96% of Bitcoin SV Transactions Come from a Weather App, Report

A weather app is generating 96 percent of total transactions on the Bitcoin SV blockchain, according to CoinMetrics. The Massachusetts-based data analytics firm said in a report published today that “Weather SV” wrote a majority of transactions on the Bitcoin SV blockchain. It arrived at the conclusion after studying OP_RETURNS, a script that allows users to write arbitrary data onto a public ledger. CoinMeterics noted that Weather SV was using the maximum OP_RETURNs to record information on the BSV ledger. “On July 14th, over 96% of BSV transactions included an OP_RETURN,” found…

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India May Ban Bitcoin And Cryptocurrencies Except ‘Digital Rupee’

India is preparing to do the impossible by banning cryptocurrencies such as Bitcoin in any form, a newly leaked document revealed this week. Alleged Draft Law ‘Prohibits’ Bitcoin & Crypto Uploaded to sharing site Scribd by local blockchain and tech lawyer, Varun Sethi, the document allegedly shows the preliminary text of a new law designed to “prohibit the use of cryptocurrency.” The event adds fuel to existing speculation that India’s government and central bank wish to outlaw the use of cryptocurrencies beyond their control. If the document is genuine, it…

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Bitpoint Plans to Refund $30 Million to Hack Victims

Japanese crypto exchange operator Bitpoint pledged to compensate the victims of the recent hack. The company plans to refund about $30 million worth of cryptocurrency. About 50,000 Clients Affected by the Hack On Tuesday, Bitpoint published an update on its website, revealing the amounts of stolen crypto. Also, President Genki Oda held a press conference on the same day, apologizing for the situation. He unveiled that about 50,000 Bitpoint users saw their crypto funds stolen. On Friday, we reported that Bitpoint announced that it had lost 3.5 billion yen worth…

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Bitcoin Price Analysis: Bullish Falling Wedge Remerges

Over the last 6 Days Bitcoin has seen a 25% pull-back to visible range support around $9,800 from the recent high of $13,200. During this pull-back, another falling wedge has formed visible on all timeframes and could propel price levels back up towards visible range highs over the coming weeks.  Bitcoin 4 Hour Analysis On the 4 Hour chart, we can see the two falling wedges that have formed within the same price range as each other. Maxx Momentum indicator also shows similarities as momentum turns red throughout the later…

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UK Chancellor Gives British Government Opinion On Libra

UK Chancellor of the Exchequer, Philip Hammond, appeared on CNBC’s Squawk Box this week giving the UK government’s perspective on Facebook’s Libra ‘cryptocurrency’. Libra Could Both Transform And Harm the UK U.K. Chancellor of the Exchequer @PhilipHammondUK explains why governments are so worried about Facebook’s Libra $FB #btc #bitcoin pic.twitter.com/SYFggQVncw — Squawk Box (@SquawkCNBC) July 15, 2019 When Hammond was questioned as to his ‘take’ on Libra, he was quick to emphasise its potential, both positive and negative. It’s potentially a positive, transformative step, but it also has the potential…

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