Monthly Archives: November 2020

Bitcoin chose decentralization and immutability over payments, says Fidelity

Fidelity Digital Assets has published its response to commonplace criticisms of Bitcoin. “Bitcoin has failed as means of payment” is one of the prevalent criticisms of Bitcoin (BTC) that Fidelity Digital Assets is seeking to rebut. In a blog post published on Nov. 13, the firm took on six “persistent” criticisms, including Bitcoin’s volatility, environmental wastefulness and use in illicit activities. Regarding the coin’s purported failure as a means of payment for everyday transactions, Fidelity’s argument is that this criticism fails to understand Bitcoin’s core purpose. The […]

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Citibank analyst makes tentative $318K Bitcoin prediction for December 2021

However improbable this seems, it would represent the “weakest” major rally so far, at a 102 times increase from low to high. A recent Bitcoin (BTC) technical analysis prepared by CitiFX for its institutional clients points to a potential high of $318,000 sometime in December 2021. As highlighted by Twitter commentator Alex on Nov. 14, the exact figure is of little value over such a long time frame. However, the analysis does suggest that Bitcoin “price is likely to continue to go up, and a lot.” Describing […]

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$2.3B in Bitcoin exchange outflows dwarfs the amount of new BTC mined

Bitcoin exchange reserves dropped from 2.5 million to 2.355 million in the past month as around 145,000 BTC, worth $2.35 billion, moved out of exchanges. From Oct. 15 to Nov. 15, Bitcoin (BTC) exchange outflows dropped from 2.5 million to 2.355 million, the lowest levels since August 2018. Approximately 145,000 BTC, worth $2.35 billion at a price point of $16,200, moved out of exchanges. Bitcoin exchange reserves since January 2018. Source: CryptoQuant In the same period, Bitcoin miners mined around 27,000 BTC, equivalent to around $437.4 million. […]

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Citibank Executive Says Bitcoin Will Trade at $318,000 by End of 2021

Citibank Group’s Global head of Citifxtechnicals product, Tom Fitzpatrick expects to see the price of bitcoin peaking at $318,000 by end of 2021. Although he concedes that his prediction might seem improbable, Fitzpatrick argues that such a surge will still be the weakest rally for the digital asset when compared to other assets such as gold. He also adds that bitcoin is all about the”unthinkable rallies followed by painful corrections.” Bitcoin will see huge price swings before finally settling at the predicted price suggests Fitzpatrick. Similar Trends […]

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Crypto firms still not widely adopting ‘travel rule,’ says FATF deputy

David Lewis, executive secretary and G20 deputy at the Financial Action Task Force, says crypto firms still have a long way to go before they’re compliant. In 2019, the Financial Action Task Force asked jurisdictions worldwide to adopt its regulatory guidelines for virtual assets. At the V20 conference today, held online, David Lewis—executive secretary and G20 deputy at the organization—gave an overview of how implementation and business response have gone so far. The FATF is an intergovernmental organization tasked with combating money laundering. Its 2019 directives for regulating crypto, […]

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Kyrgyzstan’s central bank developing draft law for cryptocurrency industry

Solid crypto regulations would be a long time coming for Kyrgyzstan. The central bank for the Central Asian country of Kyrgyzstan is working on a draft law to regulate the cryptocurrency industry in the country. According to an announcement on Nov. 13, the National Bank of the Kyrgyz Republic is developing a draft law that would regulate cryptocurrency exchanges in consultation with industry stakeholders. The bank stated that the draft law would regulate the sale and purchase of cryptocurrencies with the aim of tackling fraudulent cryptocurrency schemes […]

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DealDefi Network Presale is Now Open to the Public

PRESS RELEASE. The DealDefi network is a scalable heterogeneous blockchain for lending/borrowing & marketplace decentralized finance. The DealDefi Network prides itself in four major unique features; – Minimum or no gas fee on transactions, decentralization, privacy and fast/instant transactions. The DealDefi Network team is known and has a lot of experience in blockchain and cryptocurrency projects having been involved in successful and existing projects. “Our slogan is Effectiveness and Transparency in Defi” were the words of the CEO & Co-Founder Eng. Joshua Patrick during a live AMA […]

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Stocks boom, dollar gloom: 5 Things to watch in Bitcoin this week

Bitcoin is holding above $16,000 amid mixed feelings about the chances of all-time highs appearing this bull run. Bitcoin (BTC) begins a new week with stocks rising and the U.S. dollar falling — all while trading back above $16,000. What’s next for price action? Cointelegraph takes a look at the factors which could shape how Bitcoin moves in the coming days. Stocks near all-time highs while USD sinks This week’s macro environment feels somewhat different to the last — stocks are gaining, boosted by a major Asian […]

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BCH Collectibles: RPG Blockchain Game Built on Bitcoin Cash Completes Flipstarter Campaign

In the near future, a non-fungible token collectible game is coming to the Bitcoin Cash ecosystem. The project dubbed “Enter the Sphere” aims to bring its NFT collectible universe to Bitcoin Cash by leveraging the Simple Ledger Protocol (SLP). Last week the team behind the project successfully raised 101 BCH ($24k) in order to kickstart the NFT experience. Last year a number of software engineers invoked the Simple Ledger Protocol (SLP) which allows the creation of permissionless tokens on the Bitcoin Cash (BCH) network. Since then, over […]

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MIT cybersecurity experts do not trust blockchain-based voting systems

“I haven’t yet seen a blockchain system that I would trust with a county-fair jellybean count, much less a presidential election.” While certain parties in the United States continue to challenge the integrity of the election process, a group of researchers is advocating against using Internet-based and blockchain-based voting systems in the future. According to a Nov. 16 report from researchers at the Massachusetts Institute of Technology’s Computer Science and Artificial Intelligence Laboratory, relying on blockchain voting technology is not a reliable means of promoting greater turnout […]

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