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Showing posts from December 31, 2020

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC

A South African High Court recently granted a provisional liquidation order against Mirror Trading International (MTI) following an application for relief by two investors who failed to withdraw their bitcoin. According to a statement released by lawyers of one of the aggrieved investors, this provisional order paves the way for the appointment of a liquidator to take control of MTI’s assets and liabilities. Provisional Order The order by the Cape Town court came after the Financial Sector Conduct Authority (FSCA) reported receiving complaints from investors who failed to withdraw invested funds. The court’s decision also follows reports that Johann Steynberg, the CEO of the alleged online bitcoin scam platform, had skipped the country. At the same time, a statement released by MTI management alleges that Steynberg, who is no longer communicating with fellow executives, blocked his colleagues from accessing the company’s funds. The management team says it is now working with law ...
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Darknet Giant White House Market Drops Bitcoin, Supports Monero Payments Only

The prominent darknet marketplace, White House Market, has dropped bitcoin payments and now accepts monero only. The darknet marketplace administrators detailed that there was an issue with a payment processor blocking Tor exit nodes, but the full transition to monero was always planned. A number of crypto proponents have reported on the darknet marketplace, White House dropping bitcoin ( BTC ) payments in order to exclusively support monero ( XMR ). On December 28, one individual on Twitter wrote: “[One of the] largest darknet markets, White House Market, drops bitcoin support, now only uses monero.” News.Bitcoin.com confirmed the payment system change by visiting the White House market’s onion URL. The White House admins detail the issues with bitcoin ( BTC ) support stemmed from a third party service. “Bitcoin payments are no longer accepted,” the White House admins stressed. “The [third] party exchange API we used (Morphtoken) has suddenly decided to block access from Tor exit ...
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Close, but no cigar! Here are 2020’s worst Bitcoin price predictions

These off the mark 2020 Bitcoin price predictions prove that forecasting BTC’s value is as futile as picking lottery numbers. Pundits and crypto analysts love to issue Bitcoin ( BTC ) price predictions regardless of how volatile the asset class is.  In 2017, there were calls for BTC’s price to hit $35,000–$50,000, and of course, a few brave souls predicted that the price would top $1 million before correcting. No one will forget how John McAfee infamously promised to chomp off his genitals if BTC’s price didn’t hit $1 million by 2020. While some of these lofty estimates are based on fundamentals, others are entirely baseless. Regardless of the analyst’s rationale, a handful of them are so far removed from reality that they have become memes. Let’s review the most outrageous Bitcoin price predictions of 2020. “Guesstimation” attracts attention because nobody follows them up Guessing the future price of cryptocurrencies is so embedded in the community that many analysts don’...
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Bitfinex CTO: Tether Is Registered and Regulated Under FinCEN- USDT Not Next Target of the US SEC

The CTO at Bitfinex Paolo Ardoino has pushed back against rumours that the company’s Tether stablecoin may be the next target of the U.S. Securities and Exchange Commission (SEC). The Bitfinex executive insists that the Tether stablecoin, whose market capitalization has now surpassed $20 billion, is a properly registered and regulated crypto. The Alleged Misinformation Campaign The CTO said while responding to rumours circulating on social media that the USDT stablecoin might fall into a predicament similar to that of Ripple’s XRP token. Immediately after the SEC filed to sue Ripple for allegedly violating the Securities Act, the XRP token’s value tumbled . Additionally, many crypto exchanges that are wary of the implications of the lawsuit have delisted the token. However, in his reply to Ki Young Ju, the CEO at Cryptoquant, Ardoino dismisses the rumours and accuses the former of spreading misinformation. The CTO goes on to claim that the company’s stablecoin adheres to regul...
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US exchanges are suspending or delisting XRP left and right

Binance.US and eToro are the latest exchanges to discontinue XRP trading in America as Ripple faces the SEC's enforcement hammer. Binance.US, the American branch of the global crypto exchange, and crypto-friendly asset trading service eToro are the latest platforms to suspend XRP trading in the U.S. Announcing the news on Thursday, eToro revealed that U.S. customers will not be able to trade XRP on Jan. 3, 2021. Customers with existing trades at the time will have three weeks from that date to close all open positions, the platform added in its statement. For Binance.US, the effective date of its XRP delisting is Jan. 13, 2021. However, the delisting will not affect the claim process for the Spark FLR token airdrop distribution event. Binance.US and eToro now join the likes of Coinbase and Bittrex as major exchanges to halt XRP trading for American traders. Coinbase is also the subject of a lawsuit from a disgruntled trader accusing the platform of knowingly selling XRP as...
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$30K BTC price imminent? This Bitcoin hodler metric hints at the next rally peak

Bitcoin HODLer volume suggests a prolonged correction is not likely, but that could change. Bitcoin ( BTC ) HODLer volume has marked previous tops and the start of bull cycles. As the dominant cryptocurrency heads towards $30,000, HODLer activity could be a useful tool to potentially gauge BTC’s next peak. Since October, as Cointelegraph reported , the HODLing activity of Bitcoin has continuously increased. Fewer HODLers have been moving their holdings, which indicates an overall bullish market sentiment. Bitcoin HODLer volume. Source: Whalemap Why HODLer activity is important to assess Bitcoin market sentiment The term “HODLer” refers to long-time holders of Bitcoin. It is possible to track the activity of HODLers by evaluating addresses that have not moved BTC for several years. If HODLers move their assets when the price of Bitcoin is going up, it might indicate an intent to sell to take a profit on the rally. Conversely, if HODLers move their assets when the Bitcoin price...
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Cover Protocol announces compensation plan following mining contract attack

Cover Protocol will distribute new "coins" to token holders as Binance announces compensation for affected traders. Peer-to-peer coverage market Cover Protocol has published a compensation plan for token holders and liquidity providers affected by the recent hack. As part of the process, the Cover Protocol team took a snapshot at block height 11541218, the last transaction block before the exploit began. Eligible liquidity providers on Uniswap, SushiSwap, and Balancer will receive new COVER tokens based on their share of the liquidity pool on those platforms. Liquidity providers on the first two platforms will also receive a share of the ETH returned by 'white hat' exploiters like Grap.Finance. The compensation plan also revealed that token holders will receive new COVER coins on a 1-to-1 ratio with their initial wallet balance before the hack. Commenting on the reimbursement for coins held on centralized exchanges, Cover Protocol stated: "We are working wi...
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Top 10 crypto and blockchain stories of 2020

Corporations and institutional investors seeking an alternate store of value amid the pandemic crisis drove crypto to new heights in 2020. The COVID-19 pandemic dominated the news in 2020, affecting myriad sectors — health, economics, social justice, politics and trade, as well as the cryptocurrency and blockchain industry. As country after country locked down to halt the virus’s spread, governments seized upon stimulus payments to preserve economic life.  While necessary, these measures raised the specter of global inflation. This, in turn, pushed many traditional investors and institutions to take a new look at cryptocurrencies as an alternate store of value, especially Bitcoin ( BTC ), the top crypto. Following a March 11 dip, BTC went on a tear, reaching record levels by year end. With that as a backdrop, here are 2020’s top 10 stories of the crypto and blockchain world. Bitcoin soars to record heights The world’s oldest and most widely held cryptocurrency shattered price ...
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Gold Bug Peter Schiff’s Understanding of Money is Flawed, Says His Pro-Bitcoin Son

Gold bug Peter Schiff has been publicly confronted by his 18-year-old son, a bitcoin proponent, on the topic of value. Calling his dad’s understanding of money “Flawed,” Spencer Schiff made the statement in defense of TV Personality Max Keiser, who was having an argument with Peter on Twitter. ‘Your Understanding of Money is Flawed’ Gold bug Peter Schiff was confronted by his son, Spencer Schiff, on Monday after he accused TV personality and bitcoin proponent Max Keiser of not understanding the concept of fiat money. “According to Max Keiser, I oppose bitcoin because I’m a fiat addict. In the bizarro world of bitcoin, gold is the new fiat,” Peter Schiff tweeted. “Clearly, Max Keiser doesn’t understand the concept of fiat, or how it differs from legitimate currency or actual money. That explains his bitcoin fixation.” At the time of this writing, his tweet got 354 comments and was liked 877 times and retweeted 67 times. Among those who commented was his son, an 18-year-old bitcoin ...
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CyberGhost VPN Will Shield Your Bitcoin Transactions With a Special 83% off New Year’s Offer

The crypto world is full of malicious hackers and other serious threats to your digital assets. CyberGhost VPN, which is trusted by over 36 million users globally, can help protect your security when making online transactions and payments. The service accepts bitcoin and you can now save over 80% from the regular price with a CyberGhost VPN New Year’s offer . Make Online Security Your New Year’s Resolution The incredible wealth stored in digital assets has attracted to the crypto world some of the smartest hackers out there. They plague both companies and individuals using sophisticated methods such as spear phishing, trojans and SIM-swapping, and security breaches have become the norm. For this reason, maintaining excellent online security is an absolute must for crypto users and having a VPN (virtual private network) is considered a vital tool for achieving this. Using a VPN for encrypting your data when you trade makes it more difficult for hackers to spy on transactions. It al...
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Polkadot's founder looks back on the year, teases Substrate 3.0 in early 2021

Polkadot has recounted its gains in 2020, identifying its dominance of the crypto staking scene among other notable milestones for the year. With 2021 less than 24 hours away, Polkadot creator Gavin Wood says the project has built up a head of steam heading into the new year. In a 2020 roundup published on Wednesday, Wood highlighted Polkadot’s rise to becoming the number crypto for staking based on the volume of staked tokens. According to Stakingrewards.com, over 63% of the 1.02 billion DOT token supply is locked in staking wallets. This percentage amounts to about $5.2 billion in staked DOT “coins” based on the current token price. Indeed, Polkadot is one of the best performing top-10 altcoins in December . Since the start of the month, the DOT token price has gained over 56% and is now the sixth-ranked cryptocurrency by market capitalization. Wood also highlighted the project’s achievements in the area of attaining full decentralization, adding: “With 274 validators, ru...
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Production of $2.7 Million-per-Episode: South Korean Crypto-Related TV Drama Series Is Set to Start in 2021

A major South Korean TV series with crypto and blockchain-related topics is set to launch its production stage at the beginning of 2021, directed by Gemstone Film, in collaboration with firms in China and the United States. South Korean Crypto-Related TV Drama Series ‘Pumping Time’ Is Set to Start in 2021 According to Financial News , “Pumping Time,” the tentative name for the drama series, is planned for a total of 10 seasons with 20 episodes per each one. The producers estimate that each episode will have a duration of 30 minutes. Gemstone Film will allocate an ambitious budget of $2.7 million per episode. Although they didn’t provide full details on the drama series’s stories, the producers gave some hints about the topics to be featured, such as crypto-related frauds, blockchain technologies, and central bank digital currencies (CBDC). K-Play Content financially backs the production, and the producers already hired Choi Wan-kyu, a well-known drama writer in South Korea, who wi...
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The US has already lost the 2020 crypto regulation race to Europe

When it comes to crypto regulation, the United States is falling further behind more progressive and visionary nations. 2020 has been a stellar year for the crypto economy, with more enterprises and institutions than ever before implementing the technology. Big announcements, such as PayPal’s decision to enable its users to buy and sell Bitcoin ( BTC ), have understandably dominated the headlines. However, pivotal regulatory developments across the globe have largely flown under the radar and arguably present even greater significance for crypto in the long term. Related: Will PayPal’s crypto integration bring crypto to the masses? Experts answer The importance of clear regulatory frameworks cannot be overstated, with patchy and insufficient legislation offering a major barrier to enterprises looking to digital assets and distributed ledger technology. It is clear now that a number of jurisdictions in the European Union and Southeast Asia are leading the regulatory race, with cle...
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'Rat poison squared' Bitcoin passes Warren Buffett's Berkshire Hathaway by market cap

Bitcoin sees a fresh surge in trading activity as $30,000 nears and mainstream interest pours in. Bitcoin ( BTC ) has posted its highest transaction volume since early 2018 as data points to more and more investors entering the market. Figures from on-chain analytics resource Digital Assets Data highlights December 2020 as already sparking Bitcoin’s second-largest transaction volumes. BTC transaction volume eyes record At a total of $252.37 billion the remaining 24 hours of December may yet take the tally further still as it rivals December 2017. Bitcoin transaction volume 1-month chart. Source: Digital Assets Data Other indicators, such as the size of unprocessed transactions in Bitcoin’s mempool and network transaction fees , also suggest heightened activity overall. As Cointelegraph additionally reported , wallets containing both large and small balances also continue to increase to never-before-seen levels. Google Trends , meanwhile, has captured the highest levels of s...
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