Monthly Archives: October 2020

Bitcoin futures impact price more than spot markets: Wilshire Phoenix

The information in the report appears to confirm what many in the industry already believed to be true. A new report from investment firm Wilshire Phoenix claims that the Chicago Mercantile Exchange’s, or CME’s, cash-settled Bitcoin futures trading products affect Bitcoin’s price even though they do not directly involve actual real Bitcoin (BTC). “The findings of Wilshire Phoenix indicate that CME Bitcoin Futures contribute more to price discovery than its related spot markets,” said an Oct. 14 report from Wilshire Phoenix, adding: “A leading futures market suggests […]

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OECD calls out countries for their inconsistent rules on crypto taxation

The report suggests giving preferential tax treatment to PoS over PoW-based crypto assets. A study of cryptocurrency taxation regimes from around the world by the Organization for Economic Co-operation and Development, or OECD, found that global crypto taxation laws are highly inconsistent. Source: OECD Report. The way crypto assets are defined vary greatly by jurisdiction. Cryptocurrency is most commonly defined as a “financial instrument or asset”, followed by a “commodity or virtual commodity.” In the U.S., the asset class remains mostly undefined for tax purposes. Source: OECD […]

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Why didn’t the Kucoin hack or legal action against BitMEX seem to impact Bitcoin?

Bitcoin may have solidified a price base due to big player purchases. BitMEX recently faced major U.S. legal action, and KuCoin suffered a significant hack, all inside a several-day span — but why did these events not affect Bitcoin’s price in a more negative way? Aleks Svetski, CEO of Bitcoin investment app Amber, said it has to do with a number of factors, including big players buying Bitcoin (BTC). “Bitcoin’s price is a function of global demand vs a strict, immutable supply and diminishing schedule,” he told […]

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YearnSwap Is All Set to Introduce Its Decentralized Ecosystem

LONDON, United Kingdom, — YearnSwap.org – Is all set to launch its Decentralized protocols (Lending, Yield Farming, Staking) for public access, YearnSwap aims to provide an Ecosystem with many prominent features available in the market today. With this launch YearnSwap has stepped closer to its goal on creating an ecosystem where users will be able to enjoy all the decentralized Features such as “Staking, DE-FI, Yield Farming, Lending, YearnSwap Exchange etc.” in a Hassle freeway. “YearnSwap would lead to rival against Uniswap, and overcome it, once the […]

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Despite Legal Turmoil, BitMEX Research Shows Us How Not To Use Brain Wallets

This article originally appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! BitMEX has been dominating the cryptocurrency news cycle lately, for reasons that it would rather avoid. On October 1, the U.S. Commodity Futures Trading Commission (CFTC) charged the exchange with facilitating unregistered trading, and the District of New York filed criminal actions against its founders, Arthur Hayes, Ben Delo and Samuel Reed. Reed, BitMEX’s CTO, was arrested and subsequently released on […]

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Price analysis 10/14: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

Bitcoin and most major altcoins are sustaining above their immediate support levels, increasing the possibility that the uptrend will resume. The bond yields across most developed economies have dropped sharply since the central banks unleashed a slew of measures to counter the economic crisis caused by the COVID-19 pandemic. This could pose a challenge to the institutional investors who rely on the traditional 60/40 portfolio allocation between equities and fixed income instruments.  This week Fidelity Digital Assets also released its Bitcoin Investment Thesis report which details how […]

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Trezor claims new “phishing proof” desktop wallet

The desktop app reportedly provides “more robust protection” than Trezor’s browser-based wallet. Crypto wallet provider Trezor has launched a new desktop app called Trezor Suite for its hardware wallet. According to an Oct. 14 blog post, Trezor’s parent company Satoshi Labs claimed its desktop app  provides “more robust protection” than its browser-based wallet, and said they have eliminated the risk of phishing attacks that often target crypto users. “People have the right to privacy and security online but few know how to achieve it,” stated the Trezor blog. […]

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JPMorgan says Bitcoin slightly overvalued as a commodity

Referring to Bitcoin as a commodity seems to show a maturing view of the asset. Multiple JPMorgan Chase experts analyzed Bitcoin’s current price when compared to other commodities, and noted that the asset could see selling pressure ahead.  “The JPMorgan strategists said they calculated an intrinsic value by effectively treating Bitcoin as a commodity and looking at the marginal cost of production,” according to an Oct. 14 article from India’s BloombergQuint media outlet — a partnered entity involving Bloomberg and Quintillion Media. The article added: “Bitcoin faces […]

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Cornell University shared a surprising revelation about this blockchain paper

The dissertation was written at an important moment in Bitcoin’s history. A Ph.D. dissertation On Scalability of Blockchain Technologies has become the most downloaded dissertation at Cornell University in the past eight years. The paper was penned by Adem Efe Gencer in 2017, under the direction of computer scientists Emin Gün Sirer and Robbert van Renesse. When the university asked Sirer about the paper, he praised the work: “Dr. Gencer’s thesis represents a tour de force in the burgeoning area of blockchains and cryptocurrencies. It unveiled a brand […]

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Another ‘Sleeping Bitcoin’ Block Reward from 2010 Was Caught Waking Up After Ten Years

Another 2010 block reward was spent on Wednesday morning (ET) adding to the great number of ‘Satoshi era’ or so-called ‘sleeping bitcoins’ waking up in 2020. The block reward with 50 bitcoins was created on November 11, 2010, and transferred in block 652,669 after ten years. During the last few weeks, news.Bitcoin.com has been leveraging multiple tools to crawl the BTC blockchain, in order to research a great number of old coins that have moved this year. The term ‘Satoshi era’ refers to the period when Satoshi […]

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