Wednesday, July 8

Tag: Cryptocurrency News

Bitcoin S2F Model Creator Reveals 4 Reasons Why He First Bought BTC
Crypto News

Bitcoin S2F Model Creator Reveals 4 Reasons Why He First Bought BTC

Bitcoin (BTC) was the top choice of famous analyst PlanB thanks to its scarcity and zero likelihood of negative interest rates. In a series of tweets on July 7, the creator of Bitcoin’s stock-to-flow price model explained what drove him to buy the cryptocurrency. PlanB: “Most people are asleep” on BTC PlanB has become well known as an outspoken BTC supporter. His price model has undergone several incarnations, and currently predicts a Bitcoin price of $288,000 by 2024. So far, stock-to-flow has tracked Bitcoin’s metamorphosis with almost 100% accuracy. Before he created it, however, PlanB was eyeing macro factors and an exit from fiat currency. He wrote on Twitter: “Why I bought #bitcoin in 2015-2016 (before the model):  - 46M millionaires in the world, only 21M BTC  - can't us...
CFTC Is Waiting on SEC to Allow Futures Trading of More Digital Assets, Says CFTC Chairman
Crypto News

CFTC Is Waiting on SEC to Allow Futures Trading of More Digital Assets, Says CFTC Chairman

In a July 7 interview with predecessor Jim Newsome, current Chairman of the Commodity Futures Trading Commission (CFTC) Heath Tarbert ran down a list of pending concerns standing between cryptocurrencies and the long-awaited promised land of regulatory clarity. Securities regulation and the CFTC’s purview Tarbert was careful to outline the distinction between the work of the CFTC and its elder brother regulator, the Securities and Exchange Commission, or SEC.  The determination of whether a digital asset is a security is “the sole province of the SEC,” Tarbert explained. “If their determination is that it’s not a security then we can start taking it under our own purview.”  He continued: “Once you start seeing more clarity on whether something is or is not a security, you wil...
Binance Expands Fiat Gateway to Support 15 New National Currencies
Crypto News

Binance Expands Fiat Gateway to Support 15 New National Currencies

Major cryptocurrency exchange Binance has added support for deposits in 15 additional fiat currencies to its platform. According to a July 7 announcement, Binance added support for the United Arab Emirates dirham, Australian dollar, Canadian dollar, Swiss franc, Czech koruna, euro, British pound, Hong Kong dollar, Danish krone, Hungarian forint, Mexican peso, Norwegian krone, New Zealand dollar, Polish złoty and Swedish krona. Binance added the new currencies through a partnership with crypto asset and fiat money institutional custodian Etana Custody. Binance CFO Wei Zhou told Cointelegraph that users can transfer the funds via SWIFT wire transfer, adding, "After linking Binance accounts to Etana accounts, Binance users can wire funds directly from their bank accounts to Etana, and then...
Gavin Wood: ‘Governance is Critical’ for Crypto Ecosystem
Crypto News

Gavin Wood: ‘Governance is Critical’ for Crypto Ecosystem

Gavin Wood, the co-founder of Ethereum and Parity Technologies, says crypto-economic systems act like “nation-states” of the internet, running on governance as a type of parliamentary democracy.  Wood joined the Unitize conference on July 6 to talk about how blockchain governance essentially acts as laws for these nation-states that need to be able to adapt to stay relevant.  “We haven’t really thought about how blockchain can be used as a means of actually evolving the rules of the blockchain,” the Ethereum co-founder said. “Decentralization in crypto prevents the corruption of these rules.” Screenshot of Gavin Wood speaking at Unitize on July 6 Wood emphasized that in order for these blockchain nation-states to survive, they had to interact with others, and governance was the ...
Gibraltar Watchdog Grants License to Belarusian Crypto Platform
Crypto News

Gibraltar Watchdog Grants License to Belarusian Crypto Platform

The Gibraltar Financial Services Commission, or GFSC, issued a new distributed ledger technology license to the Belarus-based cryptocurrency platform, Currency.com, on July 6. According to the announcement, the platform will be allowed to use DLT to store or transmit value belonging to others in connection with the provision of dealer and custody services thanks to the license granted by the GFSC. Jonathan Squires, CEO of Currency.com, gave some insight into the company’s intentions for the license: “Our operations in Gibraltar are part of our commitment to expanding across the globe, offering a blockchain-backed, highly regulated and secure service designed to give customers the flexibility they’ve been looking for. The Gibraltar Financial Services Commission is composed of sharp-minde...
Customer Service Is Key, According to OKEx’s CEO
Crypto News

Customer Service Is Key, According to OKEx’s CEO

OKEx CEO Jay Hao recently noted customer service as a pivotal aspect of business, as part of an interview with Cointelegraph’s Jeffrey Albus.  “I think definitely customer service is crucially important,” Hao said. “After all, the customer is king.” The crypto space is still young The crypto industry arguably began with the inception of Bitcoin more than 10 years ago. As part of a young sector, many crypto and blockchain companies are still finding their sea legs in their products, services and offerings, while others look to perfect their operations. Customer feedback can be a crucial part of such development.  “Without customers’ feedback or suggestions, or anything like that, we would miss a lot of things,” Hao explained. Without customer input, It’s like living it a bubble&...
Brock Pierce Jumps Into 2020 US Presidential Last Minute
Crypto News

Brock Pierce Jumps Into 2020 US Presidential Last Minute

Brock Pierce, entrepreneur, crypto venture capitalist and child star, has announced his USA Presidential run on Twitter July 5. His tweet stated that: “I, Brock Pierce, am running for President of the United States of America.” Pierce’s campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). His website, sparse on details, does not say if he is seeking a nomination in a political party or if he is running as an Independent. Source: Cointelegraph
UNICEF Crypto Fund to Invest $100K in Humanitarian Blockchain Projects
Crypto News

UNICEF Crypto Fund to Invest $100K in Humanitarian Blockchain Projects

Over the past four years, the United Nations International Children’s Fund has been investing in startups applying open-source technology, hoping to make the world a better place, but is looking to step up its game even further now. Cecilia Chapiro, an investment advisor at UNICEF Ventures, told Cointelegraph that UNICEF had launched its innovation fund in 2016 with the goal to support emerging technologies being built in developing countries. Since then, UNICEF has invested in over 50 startups across 35 countries. “We invest in technologies that have the potential to influence billions of people, especially children in emerging countries,” Chapiro said. According to Chapiro, UNICEF identified blockchain as one of the technologies that could make a global impact. As such, UNICEF invested...
Casa Releases Results on Server Implementation Test
Crypto News

Casa Releases Results on Server Implementation Test

Crypto custody firm Casa released results from its test to find a new way to connect to the Bitcoin network and found ElectrumX had the best bang for the buck. Casa founder and cypherpunk Jameson Lopp noted the custody firm recently rewrote its backend infrastructure to support Electrum based on the tests. The company chose three different server implementations for the test: ElectrumX, Electra and Esplora Electrs. It discounted three other servers, Electrum-Server, Electrum Personal Server and Bitcoin Wallet Tracker as they felt these were not designed for high performance. For the testing, Lopp said Casa wanted to understand the performance characteristics of each implementation. They ran a list of 103,000 addresses with more than 100 transactions as their main data set for the test. It...
The Most Famous Financial Pyramids in the Crypto World
Crypto News

The Most Famous Financial Pyramids in the Crypto World

In addition to the obvious advantages in the form of anonymity, accessibility, ease of use and low cost of transactions, cryptocurrencies have some serious drawbacks that impede their global adoption. The main one is the connection between crypto and crime. Everyone who has studied this topic even superficially knows that Bitcoin (BTC) still remains a popular payment method among scammers and criminals on the darknet. Cryptocurrencies are very convenient tools for money laundering, evading taxes and cheating investors.  Today, I will talk about the most famous cryptocurrency pyramids, from which millions of investors suffered and whose activities amounted to billions of dollars in losses. These companies worked on Ponzi schemes, named after an Italian fraudster of the early 20th cent...