Monthly Archives: May 2020

Mining Sector Sees Extreme Volatility Amid Coronavirus and Crash During Q1

TokenInsight reports that Q1 2020 saw significant hash rate volatility and some mining farms fell into negative performance. Crypto research firm, TokenInsight, has published a report covering the crypto mining industry during the first quarter of 2020. The report emphasized swings in Bitcoin (BTC)’s hash rate and the phasing out of older ASIC models. However, volatility has had a greater impact on Chinese miners — with Antminer S9s becoming unprofitable during March. Miners using old ASICs are impacted by price crash The report describes BTC hash rate […]

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Charlie Shrem: BitInstant Was the Netscape of Crypto

Speaking to Cointelegraph, Charlie Shrem discussed why Coinbase’s launch was Bitinstant’s deathknell. In an exclusive interview with Cointelegraph, crypto pioneer and BitInstant co-founder, Charlie Shrem, offered his perspective on the early days of crypto. Despite missing some of the comradery from Bitcoin’s (BTC) infancy, Shrem stated that Bitcoin’s early adopters could have better recognized that crypto was much bigger than a new technology to “have fun and experiment with.” Charlie Shrem on the early days of crypto When asked what lessons the contemporary digital asset landscape can […]

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Bitcoin Rally Above $9K Stalls as Sellers Push BTC Back to Key Support

Bitcoin price rallied to $9,000 but the TD9 on the daily timeframe and lack of volume show traders are reluctant to buy at these levels. Bitcoin (BTC) price briefly broke above $9,000 as bulls appear to be in the process of trying to quietly move the price above the resistance level. Since Friday trading volume for the top-ranked cryptocurrency on CoinMarketCap had been virtually non-existent as the price traded sideways between $8,750-$8,850 for the majority of the day but the weekend is bound to bring about a […]

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Bitcoin Sextortion: Scams Using Email, Videos, Passwords to Extort BTC

Millions of people worldwide have received sextortion scam emails in 2020 asking for bitcoin. These bitcoin sextortion schemes sometimes include recipients’ passwords to make the threat more real. The authorities have advised what to do if you receive a bitcoin sextortion email. Bitcoin Sextortion Scams Proliferate Globally The number of people targeted by bitcoin sextortion scams in 2020 has increased rapidly. According to an analysis by British security company Sophos, millions of people recently received sextortion scam emails in the week it analyzed. “In fact, the number […]

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Africa: COVID-19, Gold Demand and the Gold-Backed Stablecoin Opportunity

The third decade of the third millennium is returning humanity to the gold standard, but this time it will be backed with decentralized ledger technology. When markets are bleeding, investors turn to gold.  The celebrated precious metal and former reserve standard of the world’s monetary system is valuable for several reasons, but primarily because it is scarce. So scarce, that supply-chain problems with physical gold delivery are manifesting as demand surges amid the COVID-19 financial chaos. Why is gold so popular amid market turmoil? It’s the classic […]

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Coinbase: Bitcoin Is Superior to Gold

Coinbase published a report arguing that disruptions during the pandemic highlight Bitcoin’s advantages over gold. A report published by leading U.S.-based crypto exchange, Coinbase, has argued that Bitcoin (BTC) offers a distinct advantage over gold. They state that Bitcoin is afforded these advantages by its lack of dependence on physical supply chains. While the report’s authors assert that “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” Coinbase advances that gold’s recent supply squeeze, resulting from the impacts of the coronavirus pandemic, […]

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OmiseGO’s Parent Company Changes Name to SYNQA

Omise Holdings, parent company of OmiseGo, now goes by the name SYNQA. Asian fintech company Omise Holdings, now goes by the name SYNQA.  “Forging into 2020, this new corporate identity reinforces their position as a holding company with a portfolio of companies and as the go-to partner in Asia for all fintech and innovation matters,” an April 30 statement from SYNQA said.  OmiseGo conducted its ICO in 2017 Omise, under Omise Holdings, garnered significant funds for its OmiseGo payment solution during the great crypto boom several years back. The […]

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Bearish TD9 Sell Signal Hints at Correction After 40% Bitcoin Price Rally

Bitcoin just flashed a TD9 sell signal on the daily timeframe and a confluence of factors are likely to lead to a post-halving sell-off. The Bitcoin (BTC) price rose to as high as $9,065 on May 1, after peaking at $9,481 the previous day. The 35% increase in the price of BTC within nine days led a highly accurate sell signal called the TD9 to spark. TD9, a sell sign that is a part of the TD9 Sequential system, is triggered when the price of an asset […]

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Binance Pooling Up Mining Game Amid Centralization Concerns

Does Binance’s venture into mining threaten the integrity of blockchain systems? This week marked the launch of Binance Pool, a mining platform powered by one of the world’s largest cryptocurrency exchanges. Coming less than a month after Binance’s CEO Changpeng Zhao confirmed rumors of this forthcoming addition to his brainchild company’s product family, the announcement paints the new mining pool as the bridge between “traditional mining and financial services.” The lowest fees in the market and seamless integration with a full suite of Binance’s financial products are […]

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Latin American Markets Post Record P2P Volume in April

While Localbitcoins trade volumes have receded globally since the platform’s KYC overhaul last year, Latin American trade has continued to surge. Amid declining global volume, Localbitcoins.com continues to comprise a hub for Latin American peer-to-peer (P2P) trade — with Argentina, Chile, and Venezuela posting record volume over recent weeks according to Coin.dance. This past week saw Localbitcoins trade between Bitcoin (BTC) and the Mexican peso spike by 71%. As such, the week of April 25 saw roughly $430,000 worth of BTC change hands in Mexico — comprising […]

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