Monthly Archives: August 2020

Bitcoin Futures Data Shows Market Favors Bulls Despite $1.5K Flash Crash

Several key derivatives indicators show investors are still strongly bullish on Bitcoin despite $1 billion in liquidations. The sudden $1,500 drop in Bitcoin (BTC) price on August 2 caused over $1 billion worth of liquidations on futures contracts and also led to a sharp decline in the price of many top altcoins.  This massive figure represents 18% of the total $5.6 billion open interest and undoubtedly caused the exaggerated move down to $10,560. Interestingly, futures open interest recovered half of this loss in less than 48 hours, […]

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Bitcoin Black Friday 2020 Will Host Major Discounts For BTC Payments

Before Bitcoin was a movement, it was a digital currency. While the store-of-value aspect of Bitcoin gets highlighted often, the permissionless payments side often doesn’t receive the attention it deserves. In 2012, Jon Holmquist embraced the Black Friday holiday in order to help Bitcoiners showcase the advantages of their favorite technology, launching BitcoinBlackFriday.com and hacking a mainstream cultural moment into a tool for Bitcoin adoption. In years past, thousands of merchants have participated in Bitcoin Black Friday, offering special discounts for those willing to pay in BTC. […]

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BitBlockBoom Is Bringing Bitcoiners Back Together

Gary Leland is hosting the third installment of the BitBlockBoom conference in Dallas, Texas on August 29, 2020. But this year’s event is decidedly different: this is set to be the first well-attended, in-person Bitcoin event held in the United States since the Covid-19 outbreak began. Because of the unique situation he’s in, Bitcoin Magazine wanted to check in with Gary and understand more about the preparations he’s making to ensure that BitBlockBoom is both a successful and safe event for everyone attending. Flip: I think you’re […]

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Huobi’s COO Thinks Blockchain Regulation Needs to be Better Defined

Huobi’s COO believes lack of defined regulation and infrastructure services are preventing the mass adoption of blockchain technology. Robin Zhu, Huobi Global Group’s COO, told Cointelegraph at a China Great Bay Area International Blockchain Week pre-event interview on August 3 that lack of defined regulations and infrastructure services are preventing the mass adoption of blockchain and crypto. Defined regulation and mass adoption  Zhu explained that, in addition to concerns about hacking, users are put off by the lack of defined regulations, infrastructure services, and user-friendly asset management […]

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Bitcoin Hater Peter Schiff Says Dollar Approaching ‘Wile E. Coyote Moment’

Gold price reached a new all-time high and the same factors behind its rally could also push Bitcoin price higher. Today the price of gold hit a new record-high at $2,008 and the asset is now in the price discovery phase.  The precious metal appears to be rallying due to the declining U.S. dollar and this could also positively affect Bitcoin (BTC) in the medium-term due to the correlation between the two assets. Bitcoin vs Gold price movements. Source: Skew.com In trading, the term price discovery refers […]

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South African Bitcoin Investment Company Faces Fresh Scam Allegations

FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam. The company says it uncovered this after researching into MTI, a firm that claims to have “118,027 members in 192 countries” and ostensibly sees “12,879.70 Bitcoin in trade daily.” The recent findings prompted FX Choice to take action one month before the Texas State Securities Board (TSSB) issued a cease and desist order. TSSB issued its cease and desist order […]

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Congresspeople Call on IRS to Take It Easy on Taxing Staking Rewards

Several of the more crypto-forward members of Congress have asked the IRS to sharpen up its guidance on taxing staking rewards. On Aug. 4, four U.S. congressional representatives wrote to the Internal Revenue Service (IRS) asking the tax authority not to overtax rewards from Proof-of-Stake blockchains.  Explaining the difference in energy consumption between PoS and Proof-of-Work blockchains like Bitcoin’s, Representatives Tom Emmer (R-MN), Darren Soto (D-FL), David Schweikert (R-AZ) and Bill Foster (D-IL) wrote that the IRS may be overestimating gains: “We believe that taxpayers’ true gains […]

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Do You Know The Most Valuable Blockchain Companies?

Ripple ranks the highest amongst companies in the Blockchain sector according to the latest annual ranking from Hurun. Research firm Hurun published a list of global unicorns, or companies worth more than a billion dollars, in 2020. This ranking features all billion-dollar tech startups founded in the 21st century that are not listed yet listed on public exchanges. The report, named “Hurun Global Unicorn Index 2020,â€� shows that there are a total of 586 unicorns globally — up from 494 companies listed in the 2019 ranking. The […]

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‘Robinhood Influencer’ Wants the Winklevoss Twins to Explain Bitcoin to Him

Dave Portnoy, also known as Davey Day Trader, now wants to learn how to buy Bitcoin from the Winklevoss twins. Popular Twitter personality Dave Portnoy, famous for his motto “stocks only go up,â€� now wants to learn about Bitcoin (BTC) from Gemini co-founders Tyler and Cameron Winklevoss. In a Twitter clip extracted from his latest daily show on August 4, Portnoy tells the Winklevoss twins he’d like them to “explain Bitcoin in a way that I would understand,â€� he said. Portnoy stressed that he wants them to […]

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The Human Rights Foundation Awards Grants to Three More Bitcoin Projects

The Human Rights Foundation (HRF) is issuing grants to three more Bitcoin developers. JoinInbox creator Openoms, Zeus creator Evan Kaloudis and Fully Noded creator Fontaine will be gifted 1 bitcoin each, worth over $11,000 at the time of writing, making for a total of over $33,000. This marks the second round of grants from the Bitcoin Development Fund, HRF’s new fund to support Bitcoin projects. “HRF decided to acknowledge and support these three developers and their projects because they are all focusing on making Bitcoin technology more […]

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