Bitcoin News 24/7

Posts

Showing posts from March 10, 2021

Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands

Crypto adoption keeps spreading among the real estate industry in Europe, specifically in Spain. Recently, a leading agency in the Canary Islands announced it would start accepting cryptocurrency payments. Firm Praises Bitcoin’s Decentralized Nature According to Digital Sevilla , Piso Barato Inmobiliaria, a Tenerife-based real estate firm, has enabled the feature that allows customers to acquire properties by paying with bitcoin ( BTC ). Although they mentioned the word “cryptocurrencies,” the firm talked mostly about BTC throughout the announcement. Piso Barato Inmobiliaria argues that a group of experts stated that bitcoin is becoming the “primary currency” of exchange globally, and thus, the firm became interested in digital assets. Future owners of properties, through the real estate agency, can purchase any property in Tenerife. The Tenerife-based agency pointed out: The evolution of expert agents in the real estate market has been so constant that buying a flat in Teneri...

Nervous newbies are taking profits while long-term BTC investors hodl strong

Despite short-term Bitcoin trading spiking in January, wallets that have been inactive for at least three years are the largest segment of the BTC holders. Long-term Bitcoin hodlers appear not to be selling despite 2021’s all-time highs, while nervous newbies have been taking profits along the way. According to Unchained Capital’s “Hodlwaves” chart — which visually illustrates the time since BTC wallets were last active on-chain , 2021 has seen an increase in both long and short-term activity. Hodlwaves: Unchained Capital The chart shows the number of coins that have moved in the past 30 to 90 days is at its highest level since 2018. These addresses represent more than 15% and are currently the largest segment of BTC wallets. Bitcoin wallets that have remained inactive for between three and five years are currently the second-largest segment, representing 13.5% of all addresses. These wallets have also steadily expanded in number during 2021, with onlookers speculating the dat...

25% of UK investors would’ve made £1 million by going all-in on BTC in 2020: Survey

A new poll found that a quarter of investors in the U.K. probably should have bet big on Bitcoin in 2020. New research from U.K. think tank Parliament Street revealed that 25% of British investors estimate they would have made £1 million or more ($1.39 million) in profit by investing all their wealth in Bitcoin at the start of 2020. The survey “The Great Cryptocurrency Report” polled 2,000 British investors about their confidence in crypto and general investment plans for 2021. The poll found that 29% of respondents had been encouraged to invest by the outsize returns generated in the latest bull run in which Bitcoin prices have hit $56,000, or £40,000. But on the other side of the ledger, the research found that 31% will not invest in cryptocurrency because they believe they have already “missed the boat”. Investors revealed their price predictions in the survey, with 31% predicting that they expect the price of Bitcoin to hit £50,000, or $69,000, this year, a 23% increase fro...

A St Louis home is being auctioned off as an NFT on Mintable

An NFT representing a 50% share in a St Louis home has been put up for auction on Mintable — but is it as good as a title deed? Investor Ivan Malpica listed a share in a property at 5828 Wise Avenue in St. Louis on NFT marketplace Mintable last night for roughly 42.43 ETH — worth nearly $76,000 at the time of writing. The listing promises "NFT fractional ownership (50%) of this fully gutted rehabbed home," noting the home had been appraised for $138,000 last year and currently generates $1200 in monthly rental income. The listing concludes: "Let's Make History together with the first ever NFT for REAL ESTATE!" Half of this house at 5828 Wise Avenue in St. Louis is up for sale as an NFT Speaking to Cointelegraph, Malpica said the use of an NFT enabled the property to be purchased with cryptocurrency, but it would be legally backed up with the formation of a Limited Liability Company between the purchaser and him showing 50/50 ownership. "The NFT ...

ETC Group Lists Ether ETP on Deutsche Borse’s Xetra, Company’s Bitcoin ETP Now Has $1 Billion AUM

Financial services company Etc Group on Tuesday launched its centrally-cleared ethereum exchange-traded product (ETP) on the Deutsche Borse’s Xetra marketplace . Etc Group Launches Ethereum Exchange-Traded Product The listing follows the success of the firm’s bitcoin ETP , which was launched on the same exchange in June 2020. That bitcoin exchange-traded product now has $1 billion assets under management (AUM), it said. In a press release, London-based Etc Group revealed that the ether exchange-traded product (primary ticker: ZETH), tracks the price of ethereum ( ETH ) and is 100% physically backed by the cryptocurrency. ETPs allow investors to gain exposure to an asset, in this case ether, but without having to buy it directly themselves. Approved by Bafin, the German financial regulator, each unit of ZETH is backed by ethereum stored at custody services provider Bitgo Trust Company, “giving the investor a claim on a predefined amount of the underlying ETH ,” said the company. ...

Ethereum miners plot hash-power ‘show of force’ against EIP-1559

In protest of the upcoming implementation of EIP-1559, some Ethereum miners are organizing to redirect hash power to a 1559-opposed pool for 51 hours. Some Ethereum miners are trying to drum up support for a demonstration of force to show their opposition to the impending implementation of EIP-1559. Amid the backdrop of ever-escalating Ethereum fees , the Ethereum Improvement Proposal seeks to replace the network’s existing bidding-based fee market with a fixed price and burn mechanism. However, EIP-1559 — which is scheduled to go live in July, will significantly impact the revenue of miners. Some analysts estimating Ethereum miners could lose up to 50% of their profits. To signal their opposition to the proposal, some Ether miners are now planning a 51-hour show of force for April 1. Miners intend to direct their hash rate to the 1559-opposed pool, Ethermine, for 51 hours on April 1. Some apparently hope to harness more than 51% of hash rate. For educational purposes, let's...

South Korean Officials Notice a Sudden Rise in Crypto Mining Rigs Imports- Over 41 Shipments Intercepted in 3 Months

Crypto adoption is a hot topic in South Korea, and recent figures have been proving it. However, crypto mining activity is also starting to gather interest across the country, per the latest reports from local media outlets. A Single Rig Should Worth $150 ‘or Less’ to Be Considered for Personal Use According to Kyungin Ilbo , custom officials in one of the biggest ports of South Korea, Incheon, are reporting a boost in mining rig hardware imports. The port is also the most prominent air terminal in the nation. During October 2020 and January 2021, authorities from the Incheon Headquarters Customs had intercepted 41 shipments with mining rigs. Although the number is not so high compared to other countries’ reports, in 2019, South Korea had just one case of crypto mining-related shipment interception. Officials believe that the crypto prices plunge seen in 2019 could be the reason behind the little interest among South Korean crypto miners. However, with the current bull-run, miner...

You’d have $10K now if you’d invested April’s stimulus in Bitcoin — and more with ETH

People who invested their first stimulus check into Bitcoin in April 2020, would now have more than $10,000. A Twitter account named “$1200 Stimulus Is Now Worth” has been tracking how much the first US $1200 stimulus would be worth if you invested in Bitcoin when the funds were sent out from April 15, 2020. The passing of the first $1200 stimulus bill in April last year corresponded with a huge bull run in the cryptocurrency and stock market s. Bitcoin was sitting at $6,848 on April 15, and if you had invested the $1200 stimulus then it would now be worth $10,211 at today's prices of roughly $56,000. The return on investment is 751% You’d have over $10,000 if you bought #bitcoin with your stimulus check. Check https://t.co/jckMs158A2 for live updates. pic.twitter.com/TXp2HnOpEc — $1200 Stimulus Is Now Worth (@BitcoinStimulus) March 10, 2021 And if you’d somehow missed out on investing the first stimulus check into Bitcoin, the second stimulus of $600 rolled out in lat...

True or false? A single NFT can power a European household for 1.5 months

NFTs are coming under scrutiny as more attention is drawn to the carbon footprint of PoW blockchains. The recent boom in non-fungible tokens, or NFTs, has been accompanied with controversy and concern over the technology’s environmental impact due to the computational power required. Out of all transaction types on a blockchain, NFTs are some of the most intensive of them all as they often involve numerous complicated transactions and executions of smart contracts in the minting, bidding, selling, and transferring process. This is sometimes reflected in transaction costs reaching hundreds of times more than that of a simple transaction. Almost 5k is the price to accept a bid on @rariblecom now!! Is it because of ETH high gas fees⛽️ or some type of bug ? Thoughts ? pic.twitter.com/tYoV1ilB85 — Olive Allen (@IamOliveAllen) February 3, 2021 In the past, the impact of such concerns was minimal, however, in recent weeks, some artists and platforms are starting to cancel NFT plans ...

American Home Warranty Company to Accept Crypto Payments, Plans to Add BTC to Investment Portfolio

Following in the footsteps of Tesla, the home warranty company American Residential Warranty (ARW) says it will accept cryptocurrency payments for its services. In addition, the company also plans to acquire and hold bitcoin as part of its strategy “to expand its investment portfolio and boost returns on cash.” In his statement following the announcement, Josh Brauser, the company’s chief revenue officer said that by adopting crypto payments, ARW is demonstrating that it is a “tech-forward company that adapts quickly to emergent technologies.” “As businesses around the world embrace this new era of global currency, at American Residential Warranty we are proud to continue being an innovator in the home warranty space with plans to accept bitcoin payments from our increasingly tech-savvy customers,” added Brauser. Concerning the Boca Raton-based company’s plan to add bitcoin (BTC) to its balance sheet, the statement reveals that ARW, which offers its services in all of the 50 U.S ...

Israeli asset manager doubles its $100M Bitcoin investment in just two months

The firm invested $100M into the Grayscale Bitcoin Trust late last year, it has sold one third and it's holdings are still worth $50M more than the purchase price. Israel's Altshuler Shaham Investment House has doubled its money after tipping $100 million into the Grayscale Bitcoin Trust late last year. It's the only know Israeli institution to have invested this magnitude of funds into Bitcoin so far. The news follows increasing institutional interest in Bitcoin internationally, with reports on March 7 that Chinese tech company Meitu had become the first Hong Kong-listed company to invest $40 million into cryptocurrencies, split between Ethereum and Bitcoin. Israel's Globes publication reported that Altshuler Shaham acquired the GBTC shares in late 2020 when Bitcoin was trading around $21,000. Co-CEO, founder and co-owner Gilad Altshuler told the publication: "The $100 million investment has become $200 million, and of the $200 million we have already sold...

Not just another gas token — Theta’s TFUEL surges 775% in 5 weeks

Theta Fuel price has been on a triple-digit rally since the beginning of February, a signal that the gas token will play an integral role in the rapidly expanding Theta ecosystem. The Theta project has been making waves alongside many other altcoins that are riding this year's bullish wave to new all-time highs . While the main token of the Theta network has been receiving a majority of the attention, the ‘gas’ token of the protocol, TFUEL, has quietly been surging alongside THETA as its importance to the network becomes apparent to savvy crypto investors. TFUEL/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that the price of TFUEL has increased 775% over the past five weeks, going from $0.026 on Feb. 1 to a new all-time high at $0.22 on March 10 as the network underwent a hard fork at 12pm PST. Fundamentals show TFU is more than just a gas token The dual token model rose to prominence in 2017 with the emergence of N...

21shares Launches Bitcoin Cash and Ethereum ETPs on Deutsche Boerse’s Xetra

The cryptocurrency exchange-traded products (ETP) provider 21shares AG, formerly known as Amun, has announced the launch of two new crypto asset ETPs on Deutsche Boerse’s Xetra. The 21shares ETPs will leverage the cryptocurrencies ethereum under the ticker “21XE,” and bitcoin cash under the ticker “21XC.” Bitcoin Cash and Ethereum Exchange Traded Products Listed on Xetra Following the firm’s two bitcoin ( BTC ) exchange-traded products listed last year, 21shares AG is launching two new ETPs for the popular crypto-assets bitcoin cash ( BCH ) and ethereum ( ETH ). Ethereum is currently the second-largest blockchain, in terms of market valuation, while bitcoin cash holds the eleventh position. On February 3, 2021, the Zurich-based investment provider launched an ETP for the crypto asset polkadot (DOT) on the Swiss exchange SIX. The new bitcoin cash ( BCH ) ETP will be called “21XC” and the ethereum ( ETH ) product will be called “21XE.” Both debuted on the Swiss stock market in mid-20...

Much fun, no work: DOGE must ditch meme status to be valued as money

Doge reaching $1 is practically impossible unless the currency witnesses some Bitcoin-level buy-ins in the coming future. There is no denying the fact that Dogecoin ( DOGE ) is by far one of the most polarizing crypto projects in the market today. On one hand, many think of the cryptocurrency as largely being a joke that has long overstayed its welcome; however, there also those people — including many celebrities, business moguls, etc. — who evidently believe it’s a viable financial instrument that will stick around for a long time to come, or at least they are leading people into believing that. For example, the owner of NBA franchise the Dallas Mavericks, Mark Cuban, recently stated that he is fairly confident that DOGE is here to stay and even has the potential to hit a price point of $1 in the near future. This proclamation comes a few days after the Mavericks started accepting Dogecoin as a form of payment. He further revealed that fans were already behind this latest payme...

Ethereum vs. Bitcoin: Did ETH/BTC just bottom as Ether eyes $2K?

The ETH/BTC pair is showing signs of bottoming but further consolidation should not be ruled out. Bitcoin’s ( BTC ) price has been broken past a major resistance level of $52,000 in the past few days and approaching the all-time high region. However, other cryptocurrencies are rallying heavily as well. In the recent months, the market has seen massive surges for Cardano ( ADA ), Polkadot (DOT) and Cosmos ( ATOM ). These altcoins have been seeing impressive gains as Ether ( ETH ) has been facing scalability issues and high network fees . This is resulting in negative sentiment on social media, where some investors and traders are doubting whether a bullish breakout will happen for Ether price. But this is might be exactly the period to become interested in the second biggest cryptocurrency, especially with major upgrades expected for Ethereum in the summer. Ether holds a critical level for continuation ETH/USD 1-day chart. Source: TradingView The USD chart for Ether shows a ...

Grayscale parent Digital Currency Group plans to buy $250M of its own GBTC shares

In a further sign of a shake-up in the institutional market, DCG is eyeing the purchase along with hiring ETF specialists. Cryptocurrency asset manager Grayscale has a new buyer of shares in its Grayscale Bitcoin Trust (GBTC) — its owner. In a press release on March 10, Grayscale parent company Digital Currency Group (DCG) announced plans to purchase up to $250 million of GBTC shares. GBTC to buy "up to $250 million" in shares The move, which comes amid volatile conditions for GBTC, follows plans to hire specialists in the exchange-traded fund (ETF) sphere, signaling a potential diversification by the company. According to the press release, DCG "has authorized the purchase by DCG of up to $250 million worth of shares of Grayscale Bitcoin Trust." "DCG plans to use cash on hand to fund the purchases and will make the purchases on the open market," it adds. DCG did not specifically state the reasoning behind the buyback. Canada ETFs put the cat am...

Bitcoin price focuses on $55K as bulls ignore a surging US dollar

The classic inverse correlation between USD and Bitcoin is nowhere to be seen as all-time highs come closer and closer. Bitcoin ( BTC ) challenged levels within 10% of all-time highs on March 10 as strength in the U.S. dollar failed to dent the bullish trend. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview $56,000 resistance is next BTC price hurdle Data from Cointelegraph Markets and Tradingview tracked a comeback from an overnight correction for BTC/USD on Wednesday, with the pair targeting $55,000. After hitting two-week highs of $54,500 the previous day, Bitcoin improved on its performance to hit $55,700 before encountering a strong band of resistance and heading lower. The latest resurgence underscores new-found strength in the largest cryptocurrency this month, something which continues to take it to within striking distance of historical all-time highs at $58,300. "Beautiful rejection on the $56,000 area for #Bitcoin here. So far, everything fine,...

South Korean Shinhan Bank pilots digital currency platform with LG CNS

South Korean commercial bank Shinhan Bank has built a digital won pilot platform in collaboration with LG CNS. Major South Korean commercial bank Shinhan Bank is looking to collaborate with the country’s central bank on developing a national digital currency. Shinhan Bank has developed a blockchain-based pilot platform for a central bank digital currency, or CBDC, in partnership with LG Corporation’s IT services arm LG CNS, South Korean news agency Yonhap reports Monday. Shinhan Bank and LG CNS created a virtual CBDC model where the Bank of Korea issues a CBDC, while other banking institutions like Shinhan Bank act as financial intermediaries. The bank emphasized that CBDC intermediaries would be an integral part of a digital won ecosystem, stating, “If the Bank of Korea issues a CBDC, an intermediary agency will be necessary for the smooth distribution and use of digital currency.” According to the report, Shinhan Bank’s CBDC system allows individuals and affiliates to use the i...

The number of Bitcoin ATMs in the US rose 177% over the past year

Worldwide, close to 10,000 new Bitcoin ATMs have been installed since March 1, 2020. Since March 1, 2020, the number of new Bitcoin ATMs installed worldwide is nearing 10,000. According to the latest data from Coin ATM Radar, the current number of machines stands at 16,835, a strong 57.5% increase, or 9,683 new machines, as compared with 7,152 last year. Back in Nov. 2020, Cointelegraph had reported a striking year-on-year increase of 80% . As previously, the vast majority of machines continue to be located in the United States, where 81% (13,699 out of 16,835 machines globally) are installed. Within the U.S., growth has been unparalleled, rising by 177% since March 1, 2020, or from 4,945 machines to 13,699 as of March 10, 2021. Canada, the country with the next-highest number of Bitcoin ATMs, clocks in at just 1,268, accounting for roughly 7.5% of machines worldwide. Two of the top countries tracked by Coin ATM Radar, Austria and the United Kingdom, have seen a ...

Nvidia RTX 3060 mines Ether at full power as miners allegedly bypass hash limits

Nvidia's plans to separate gaming and mining demand could be foiled after a custom modification allegedly bypassed the RTX 3060's Ether mining limitations. Nvidia’s attempt to shift Ether ( ETH ) miners away from its new GeForce RTX 3060 graphics card by limiting its hash rate appears to have been short-lived. Screenshots posted by tech leak Twitter account I_Leak_VN show a stack of eight RTX 3060 graphics cards operating at far above Nvidia’s 20-25 MH/s mining limit, while reportedly using Ethereum’s Dagger-Hashimoto mining algorithm. On the same day, a cryptocurrency-focused Facebook group from Vietnam posted a graphic announcing that the RTX 3060 had indeed been bypassed, and could now reach its full power of 50 MH/s thanks to a mod. Breaking Nvidia’s enforced limits on Ether mining was apparently achieved using a custom modification, according to reports on March 10. This flies in the face of a recent announcement by Nvidia’s global director of public relations, Br...

Korean crypto exchanges could soon face fines for gaps in due diligence measures

South Korean financial regulators are developing a penalty regime for Anti-Money Laundering and Know Your Customer violations by cryptocurrency exchanges. South Korean crypto exchanges that don't take extensive data collection and identity verification measures could soon be subject to heavy fines. According to an official announcement Wednesday, South Korea’s Financial Services Commission has come up with a revised proposal for the regulation of virtual assets service providers, or VASPs. The proposal introduces new VASP penalty standards as well as simplifying and integrating existing penalty rules for the industry. As part of the revised proposal, the FSC will be able to fine VASPs for failure to report and record suspicious transactions. Fines will vary depending on the severity and character of violations, from 30% to 60% of the legally approved maximum amount. Penalty relief of 50% or more is available for some small-scale businesses. As part of the proposal, th...