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Showing posts from February 20, 2021

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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Chinese Tea Retailer Joins the Crypto Mining Industry After Hiring Two Roles to Lead Its ‘Bitcoin Business Plan’

A Chinese tea retailer is looking to make its inception into the bitcoin mining business. Publicly-listed Urban Tea announced the expansion of its operations by appointing two executives to pursue its crypto plans. Urban Tea Praises Cryptocurrencies’ Widespread Popularity Per the announcement , Urban Tea Inc. hired Fengdan Zhou as the company’s new chief operating officer and Dr. Yunfei Song as an independent director. The tea retailer expects the new roles to lead the “company’s critical strategic expansion in blockchain and cryptocurrency mining.” Zhou will look forward to implementing the bitcoin ( BTC ) business plan of the firm. Her experience includes having worked in blockchain data centers across Southeast Asia and managing crypto mining farms. Moreover, she has expertise in crypto hardware wallet development, the announcement details. Also, Dr. Song comes from an academic background, specifically being a scientist at the Chinese Academy of Sciences. In fact, his expertise...
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Blockchain tech will bridge the gap between DApps and enterprises

It is crucial that traditional enterprises join the decentralized ecosystem to bring added security and legitimacy to the industry. Blockchain technology is revolutionizing the way we interact, transact and share information, with many experts predicting it will be the most disruptive technology in the next decade . After little structural innovation since the 19th and 20th centuries, decentralization has brought industries such as finance, media and technology closer to transparency, freedom from intermediaries and heightened efficiency . Traditional enterprises rely on a centralized closed-door structure. In contrast, decentralized finance projects are being built with the ethos that governance should be decentralized and democratic . Transitioning society to decentralized platforms can make many services safer, more accessible and more transparent than ever before. The increasing interest in the space speaks to a collective desire to have more control over critical elements of ou...
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Elon Musk Says Holding Bitcoin Is Less Dumb Than Cash, Disputes Peter Schiff’s Claims About Money and BTC

Tesla and Spacex CEO Elon Musk has clarified his position on bitcoin. Emphasizing that he is an engineer, not an investor, Musk says that bitcoin “is simply a less dumb form of liquidity than cash.” Musk also disputed gold bug Peter Schiff’s claims about bitcoin and commented on the price of the cryptocurrency. What Elon Musk Thinks About Bitcoin The CEO of cryptocurrency exchange Binance, Changpeng Zhao, was interviewed by Bloomberg Thursday after the demand for dogecoin on his exchange soared. He commented on Elon Musk’s enthusiasm towards the meme cryptocurrency during the interview. “I’m surprised that Elon’s so gung-ho on dogecoin,” Zhao began, noting that “This is a decentralized, free world and anybody can like anything. He [Musk] can like dogecoin for any reason he likes.” Emphasizing his strong belief that Musk is not associated with dogecoin, the Binance CEO pointed out that Musk’s electric car company, Tesla, bought $1.5 billion of bitcoin, not dogecoin. Musk saw the in...
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Day Trader Dave Portnoy Disturbed by Bitcoin Price — Vows to Never Buy BTC Again

Day trader Dave Portnoy has admitted that he is an idiot when it comes to bitcoin after the price of the cryptocurrency continually hit all-time highs. He panic-sold his bitcoins when its price was just around $11,000 and has now vowed to never buy the cryptocurrency again. Dave Portnoy Regrets Panic-Selling Bitcoin at $11K American day trader and founder of Barstool Sports blog Dave Portnoy admitted Thursday that he is an idiot when it comes to bitcoin and said that he will never buy the cryptocurrency again. Portnoy bought his first bitcoin on Aug. 13, 2020, when the Winklevoss twins, who are his neighbors, went to his home and personally walked him through how to buy bitcoin on their cryptocurrency exchange Gemini. Portnoy invested $200K in BTC that day when the price of the cryptocurrency was around $11,172, according to markets.Bitcoin.com. He subsequently bought two other cryptocurrencies: chainlink and orchid. However, when the price of some of his cryptocurrencies topple...
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Exchange tokens benefit as centralized exchanges battle with DeFi platforms

Exchange tokens catch a boost as governance and high yields attract fresh inflows and CeFi begins to merge with DeFi. Fresh institutional and retail investor inflows into the cryptocurrency market have led to bull market conditions for many top tokens from blue-chips like Bitcoin ( BTC ) and Ether ( ETH ) to more recently established DeFi projects like AAVE and Synthetix (SNX). Exchange tokens are another easily overlooked sub-sector of the market but they have been performing exceptionally well in 2021 as increases in trading volumes results in a larger pool of fees to collect when the exchange’s native token is used for settlement. Native exchange tokens are also typically used as the base pair for funding new listings and token buybacks. Here are three of the top-performing exchange tokens in 2021 that continue to see upside potential as new investors flood into the market. Similar to the experience of CryptoKitty users in 2017, the decentralized finance community has discover...
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Decentraland celebrates 1 year anniversary with virtual party

The virtual world is celebrating in style with "live" DJ sets and a new club reveal User-owned virtual world Decentraland is celebrating its one-year anniversary true to form with a virtual party open to all.  “Relive the past 12 months of events, competitions, exhibitions, gatherings and more with messages from the community and the results of the #DCLFilmClub promo video contest screened for all,” read the party’s announcement blog post. Attendees will receive a Proof Of Attendance Protocol NFT, and will get the first look at The White Rabbit, an in-game club. Community members are also pitching in on the effort, with one land rental service offering legendary item giveaway to celebrate. DJ and crypto aficionado RAC posted on Twitter that he’d be performing a “live” DJ set: playing a special set in less than 1hr! happy bday @decentraland https://t.co/OxORgmIemm pic.twitter.com/Tgwv6WXmJY — RAC (@RAC) February 20, 2021 While the project has been open to inves...
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Polkadot (DOT) gains 42% ahead of its long-awaited parachain auctions

Polkadot price pushes to new highs over growing excitement for the upcoming parachain auctions and increased interoperability they will support. In the early hours of Feb. 20 Polkadot (DOT) trading volume began to see a significant increase which helped propel the multichain protocol to a new all-time high of $42.28.  Data from Cointelegraph Markets and TradingView shows that DOT hit a swing low at $29.36 on Feb.19 before experiencing a 44% breakout which took the price to a new 2021 high. DOT/USDT 4-hour chart. Source: TradingView Excitement continues to build in the Polkadot ecosystem ahead of the upcoming parachain auctions which will allow the Polkadot network to connect with other established networks like Bitcoin and Ethereum. The mechanism by which data is transferred between different blockchains is called “cross-chain message passing-lite,” and is currently being finalized during the Rococo phase of the project’s roadmap. Once the code has been fully audited it...
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Bill Gates Neutral on Bitcoin but Says Cryptocurrency Is an Innovation the World Can Do Without

Microsoft founder Bill Gates is no longer a bitcoin bear. He has now taken a neutral stance on bitcoin as an investment. However, as an innovation, he says that cryptocurrency is one that the world would be better off without because it allows for certain criminal activities. Bill Gates Changes His Mind About Bitcoin Bill Gates spoke about bitcoin and cryptocurrency in two separate interviews Thursday. One was with CNBC where he was asked what he thinks about bitcoin “in the context of climate change seeing how bitcoin takes an enormous amount of energy to digitally mine.” Gates simply replied: I don’t own bitcoin. I’m not short bitcoin. So, I’ve taken a neutral view. “Bitcoin can go up and down just based on the mania or whatever the views are, and I don’t have a way of predicting how that will progress,” Gates continued. The Microsoft founder added: “I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does...
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Thanks a trillion Bitcoin, Binance Coin goes parabolic, NFT mania: Hodler’s Digest, Feb. 14–20

The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week Bitcoin hits $57,500 And $1-trillion market cap signals its here to stay Bitcoins price continued to smash records this week, surging by more than 20% and hitting highs of $57,505.23 at one point. But the most significant milestone came when BTCs market cap exceeded $1 trillion for the very first time. This is a feat that took the likes of Amazon and Google decades to achieve, with Bitcoin cementing its status as a major global asset in just 12 years. BTC even managed to overtake Tesla and Tencent as bullish momentum shows no signs of slowing down. ...
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3 key factors that propelled Ethereum to $2,000 for the first time ever

Ether price is attempting to conquer $2,000 as the Ethereum blockchain is seeing increasing demand. The price of Ether ( ETH ) is surging past $2,000 with strong momentum while gaining a bit of ground on Bitcoin ( BTC ) in the last 24 hours.  There are three key reasons behind the explosive rally of Ether, namely the rapid growth of DeFi, the hype around ETH after the CME futures listing, and the decreasing amount of BTC and ETH on exchanges. ETH/USDT 4-hour price chart (Binance). Source: TradingView.com CME futures listing institutional hype Ether hitting $2,000 for the first time ever follows the launch of CME ETH futures earlier this month , which primarily target institutional investors.  Prior to the listing, there was a popular narrative that the CME listing would cause the price of ETH to decline significantly, because the CME Bitcoin futures listing in 2017 coincided with the local BTC top at the time. However, ETH has continuously rallied since, breaking pas...
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Ravencoin (RVN) gains 865% as interest in tokenized securities grows

The recent controversy over traditional brokerages restricting stock purchases cast a positive light on tokenized securities and boosted interest in projects like Ravencoin. Ravencoin (RVN) price has rocketed higher in February as a fresh wave of buying volume lifted the token's price by more than 800% in the past 20 days.  Data from Cointelegraph Markets and TradingView shows that RVN rose from $0.016 on Jan.29 to a new all-time high of $0.189 on Feb. 19 on top of a record $1.28 billion in 24-hour trading volume. RVN/USDT 4-hour chart. Source: TradingView A scroll through the project’s Twitter feed shows an increase in activity from the account beginning on Jan. 27, when the project tweeted , “Stock markets are transforming. Ravencoin is here for those who want to build services or issue assets.” Traditional financial markets were under pressure at the time thanks to r/Wallstreetbets and its squeeze of GameStop shorts which subsequently led to brokerage firms briefly su...
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Bitcoin skeptic debates Bloomberg analyst in latest Cointelegraph Crypto Duel

Economist Frances Coppola and senior commodity strategist at Bloomberg Mike MgGlone clash on everything Bitcoin. In a recent video debate, Bitcoin skeptic Frances Coppola debated Bloomberg senior commodity strategist Mike McGlone on the economics of Bitcoin, market manipulation and predictions for 2021.  Coppola is skeptical that Bitcoin will ever succeed as a store of value because of its high volatility which, according to her, is a direct consequence of the asset’s fixed supply rate. “With a fixed rate of increase of supply (...) the only thing that can adjust to changes in demand is price”, she explained. Demand fluctuations mean Bitcoin's volatility is here to stay. McGlone, on the other hand, thinks that the fixed supply of Bitcoin will lead the volatility to decline over time. “The simple rules of markets is you have supply and demand. Both are uncertain. That's what creates volatility”, he explained. “If you have a certain supply schedule, that means 50 percent of...
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Elon Musk says BTC, ETH prices “high” while dunking on Peter Schiff

While Musk said Schiff "might as well" have crypto in lieu of gold deposit statements, he did warn that digital currency valuations may be running hot While his electric car company announced a Bitcoin purchase weeks ago, Elon Musk finally became a true Bitcoiner last night by engaging in a time-honored cryptoTwitter pastime: dunking on Peter Schiff.  Yesterday morning Schiff, the noted gold bug and Bitcoin skeptic , posted a Tweet thread in which he criticized Elon Musk’s comment that Bitcoin is a flawed currency, though still better than fiat alternatives: According to @elonmusk "Bitcoin is almost as BS as fiat money." So Musk regards both #Bitcoin and fiat as BS. I agree, I just think Bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. #Gold is not BS. It's real money and better than both! — Peter Schiff (@PeterSchiff) February 19, 2021 Schiff noted that, “as an engineer” the Tesla founder should know the di...
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Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well. While financial incumbents are giving people with savings accounts a measly 0.35% to 0.60%, digital currencies can give people 1-17% or even more by leveraging certain tactics. Crypto Returns That Outpace the Savings Account You may have heard the term “make your money work for you” in the past, and that’s what savings accounts do if they earn a percentage of interest over time. Certainly, a person can be a bit riskier and invest in stocks and such but with a savings account, the money simply sits there and accrues a return over a period of time. The more money held, the more interest an account will get but these days banks don’t like giving interest. We can see that some of the top banks in the world will only give 0.35% to 0.60% returns according to the best savings account rates on bankrate.com ...
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